Stampede of the unicorns: will a new breed of tech giants burst the bubble?
Five years ago Aileen Lee, founder of Silicon Valley investor Cowboy Ventures, coined the term “unicorn” for a private company valued at more than $1bn.
Shopping, songs, TV, transport … new tech has many sectors in disarray
Netflix has helped change the way we watch television and film, further weakening our reliance on traditional TV schedules and providing a cheaper alternative to a cinema trip.
It invested massively in shows such as The Crown, Stranger Things and House of Cards to drive subscriber growth. It is now spending money on locking in talent, including Grey’s Anatomy creator Shonda Rhimes and Ryan Murphy, the producer behind American Horror Story, to try to ensure its supply of high-quality content.
Without a fair tax on tech, it could be the end of the state as we know it
Alongside the results of last week’s US midterms came the passing of San Francisco’s Proposition C, a measure that will tax firms with an annual turnover of more than $50m (£44m) to raise an estimated $300m extra a year to help address homelessness. Last Tuesday, 60% of voters backed it: though the proposal is now snarled up in a constitutional dispute, its approval marks a big moment for a city whose housing crisis has become a matter of urgency.
Pinterest shares leap 25% in spectacular New York stock exchange debutApril 18, 2019- Uber and Lyft drivers say apps are short-changing wages while raising faresApril 18, 2019
We need action to curb speed on dangerous roadsApril 18, 2019- EU introduces new minimum rights for ‘gig economy’ workers like Uber drivers and Deliveroo ridersApril 17, 2019
