In as we speak’s ExchangeWire information digest: the US bans tech companies from constructing in China for the subsequent 10 Years; Microsoft backs controversial entrepreneur Travis Kalanick’s CloudKitchens startup; and tech companies in South-east Asia launch the area’s first anti-counterfeit consortium.
US bars tech companies from constructing services in China
American Tech firms in receipt of federal funding might be unable to construct “superior expertise” services in China for the subsequent decade, in response to the Biden administration.
The ban falls below the US authorities’s USD$50bn (£43bn) plan to bolster the nation’s semiconductor trade because the nation struggles in opposition to a worldwide microchip scarcity. The transfer is Washington’s newest crackdown on tech companies’ potential to commerce with China; simply final week, tech giants Nvidia and AMD noticed their shares drop as the federal government introduced necessary new licenses to promote AI chips to China.
Microsoft invests in Uber-founder’s newest enterprise
Microsoft has invested in CloudKitchens, the “darkish kitchen” start-up led by Uber co-founder and former CEO Travis Kalanick. The funding from Microsoft has enabled the startup to supercharge its world growth, growing its workforce to 4,000 throughout the US, Latin America, the UK, and the Center East.
The tech large beforehand funded round USD$100m (£86m) in Uber again in 2015, nevertheless Microsoft is certainly one of few firms to put money into Kalanick’s latest enterprise, because the entrepreneur’s exit from Uber in 2017 was marred by moral scandals and administration failings.
Lazada, HP, and extra launch South-east Asia’s first anti-counterfeit group
Tech giants in South-east Asia have banded collectively to sort out fraud in e-commerce. The South-east Asia e-Commerce Anti-Counterfeit Working Group launched on Wednesday (seventh September) because the area’s first e-commerce anti-counterfeiting syndicate.
Companies concerned embrace AliExpress, Lazada, and HP. All members are committing to collaborating with stakeholders to fight the gross sales of counterfeit items on-line, along with supporting one another in defending customers and mental property rights.
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Truth of the Day
USD$2.7bn (£2.3bn) – the web price of Uber co-founder Travis Kalanick as of September 2022.