The Week in Tech: Business Is Booming Despite Backlash

Each week, era reporters and columnists from The New York Times overview the week’s news, presenting evaluation and maybe a joke or approximately the most critical developments within the tech industry. Want this newsletter in your inbox? Sign up here.

Hello, pals. I’m Kate Conger, a tech reporter in The Times’s San Francisco bureau. It has been some other earnings news week, this means that we’re mastering precisely how great deal money the nearby tech groups earned in 2018.

The news might not marvel you: Everyone in Silicon Valley remains raking in coins. Apple is u. S. A .’s most treasured public corporation once more, after briefly dropping the title to Amazon. Facebook has shattered its own tremendous records for earnings and revenue, in spite of growing scrutiny of its commercial enterprise practices.

And a flock of corporations is about to sign up for the tech giants in the public marketplace. Slack, the place of business chat app that I compulsively check in the course of my day, has filed for its preliminary public imparting. It’s now in line behind Uber and Lyft for a 2019 debut on Wall Street. Airbnb and Pinterest are likely to follow, bringing a fresh wave of cash to one of the most high priced areas in the United States.

New wealth and tech is not anything new, of the route. But it’s miles first rate that tech groups have accomplished so nicely in a tough year for the industry.

Executives from Google, Facebook and Twitter have been called to Washington to reply to lawmakers’ issues about political bias, privacy violations, and immoderate market strength.

New wealth and tech is not anything new, of the path. But it is wonderful that tech organizations have completed so nicely in a difficult year for the industry.

Executives from Google, Facebook and Twitter were known as to Washington to reply to lawmakers’ worries about political bias, privateness violations, and immoderate marketplace energy.

In Europe, antitrust concerns are on the upward thrust. In 2017, Google paid what become a file exceptional of $2.7 billion. Last yr, Google became fined again, this time for $5.1 billion.

Just this past week, Germany introduced that it might crack down at the manner Facebook collects and combines statistics on its customers as they browse the net. British doctors advocated that mother and father limit their youngsters’ exposure to screens and social media, while my co-employee Brian X. Chen wrote about “bait apps” that trick kids into spending money online.

The tech industry’s honeymoon with the relaxation of the world appears to be over. Except when it comes to creating wealth.

Share