Entrepreneurs built mini-empires of short-term rental properties, borrowing against revenue that’s now vanishing under coronavirus lockdowns.
Eliot BrownGood read on the woes of the "upper crust" of the gig-economy: the Airbnb entrepreneurs who bought mini-empires of homes to lease short term. Now they have no income and mounting mortgage bills.
This should be Travis Kalanick’s moment.The Uber co-founder not only sold out of Uber ahead of the pandemic that has cratered that company’s ride-hailing business, but switched his money and energy to a real estate startup that leases space to...
Eliot Brown"Even as Kalanick has grappled with early challenges, he has attempted to broaden CloudKitchens’ business, in part by developing its own food that kitchens in its facilities could potentially prepare and sell. One example is Skinny Bitch Pizza"
Peter Thiel’s data firm Palantir Technologies got an early jump on the coronavirus, recalling staff from abroad ahead of most companies. In recent weeks, it parlayed that knowledge into a growing role helping governments around the world track the...
High-profile cases have stoked class tensions and fed a perception that Covid-19 is a rich people’s problem, especially in countries with high levels of economic inequality.
Eliot BrownPandemic apres ski: Mexico's banking elite jetted to Vail in February. Then they brought COVID-19 home and helped aid its spread
Great read on class struggle, coronavirus and Latin America from @RWhelanWSJ
Is it soda or pop? PEE-can or pick-AHN? Coo-pon or cyu-pon? You likely have opinions on each of these questions -- very strong opinions, opinions you would fight to the death to defend! Joshua Katz, a Ph.D student in the Department of Statistics at...
Eliot BrownSoftBank indeed plans to not buy the $3 B it said it would from existing WeWork investors/early employees
A legal fight sure to follow
Adam Neumann not getting his >$970 M; early employees who have worked there for years and are still there stuck too
Layoffs. Canceled print editions. Weekly papers and small dailies across the country face peril as the coronavirus cuts off ads and live events.
Eliot BrownIt's going to be v v bad for local newspapers
Papers have been living on fumes of a boom-era artificially-high print ad spending market
The biggest of papers (disclaimer: us) have attracted big #s of online subscribers
not working at local level
News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Eliot BrownMasa playing to Adam's insecurities: telling Adam that Oyo was outperforming:
“Your little brother…is really performing faster [and] better than you guys,” he recalled Son telling Neumann. “Let me take you through their deck and how well they’re doing.”
Uber and Lyft said they would ease congestion. Instead they made it worse.
Eliot BrownUber 5 years ago, explicitly: Uber will decrease traffic congestion
Reality today: Uber/Lyft add to traffic congestion
Read my story on this window into Silicon Valley tunnel vision / inability to see bad efffects that are obvious in hindsight
Money from the Japanese tech investor is fueling a price war between three of its own: Uber, Didi and Rappi. Former managers say they were frequently baffled by the amount of money the companies were willing to spend to compete.
Eliot BrownLatin America was Uber's best market
Then came Softbank, which...
-led $4 b into didi
-didi launched an attack on Uber in latam
-price war ensues
-softbank puts $1 b into Rappi (food delivery)
-price war continues
-didi launches food in latam