What we’re reading (12/2)
“VCs Are Pouring Money Into The Wrong Education Startups” (Wired). “[T]hough the year is not yet complete, VC investments in education technology during 2020 are already at $9.7 billion, more than twice the amount in all of 2019. This striking increase suggests that investors see enticing opportunities in the education landscape that will endure beyond the pandemic. But a more reliable assessment requires a closer look at the nature of these new investments. Do they suggest that investors see, in the wake of Covid-19, new opportunities for radical changes in education? In a word, no. A closer look at recent venture capital activity indicates that early-stage investments—those more likely to target risky and innovative startups—have actually declined since the onset of the pandemic. Instead, venture capital's focus on education technology is entirely concentrated in later-stage investments that support relatively mature companies.”
“The Covid Pandemic Could Cut Business Travel by 36%—Permanently” (Wall Street Journal). “Even if Covid-19 vaccines become widespread, business travel is likely to be changed by the pandemic. Travel budgets have been slashed and some meetings will remain virtual; conferences and conventions may be crimped. But by how much?…Guesses aside, a look at data suggests between 19% and 36% of all air trips are likely to be lost[.]”
“Trump Threatens To Veto Major Defense Bill Unless Congress Repeals Section 230, A Legal Shield For Tech Giants” (Washington Post). “President Trump on Tuesday threatened to veto an annual defense bill authorizing nearly $1 trillion in military spending unless Congress opens the door for Facebook, Twitter and other social media sites to be held legally liable for the way they police their platforms.”
“Retail Cornerstones Fall In Britain, Pushed By Fast Fashion And Pandemic” (New York Times). “[A]s Christmas lights flicker above the sidewalks in Britain’s downtowns and as the busiest shopping period of the year begins after a monthlong lockdown in England, the nation is watching two of its largest retailers fall. They have about 25,000 employees between them. More bankruptcies are expected, as the lockdowns have relentlessly exposed the retailers that have failed to pick up on customers’ willingness to shop online.”
“What Janet Yellen’s Nomination As Treasury Secretary Means For U.S. Policy On China And Trade” (CNBC). “Yellen has in the past acknowledged concerns about Chinese industrial practices. Her policy stance on China is less known, but she has supported open trade and the international trading system — an indication that she, like many on Biden’s team, would be a moderate voice.”
