March 29, 2016
Successful empires and kingdoms are good at building infrastructure and sharpening the best ideas. The inscription along the magnificent colonnade above the James A Farley building in central Manhattan, the largest post office in the United States, reads: ‘Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.’ Herodotus wrote the words 2,500 years ago, to describe the ancient Persians – who were always on the lookout for innovative technologies and ideas that made it easier to administer their great empire. Getting messages quickly and reliably from A to B in the ancient world was no less important than it is today. ... The instant communications made possible by recent technological changes should not make us susceptible to the breathless commentary about globalisation as something new. For more than two millennia, news and information, goods and products, ideas and beliefs have flowed through networks linking the Pacific coast of China with the Atlantic coasts of North Africa and Europe, the Indian Ocean and the Persian Gulf with the Mediterranean and Scandinavia. Since the late 19th century, these networks have been known as the Silk Roads. ... We are witnessing the world’s centre of gravity return to the axis on which it spun for millennia. When viewed from the vantage point of the Silk Roads, the familiar narrative begins to quiver, history itself begins to shift. In fact, to understand the world, the best place to look is not in the centre of the West nor in the heart of the East, but on the old Silk Road where the two come together. ... Most scholars have neglected these networks for three reasons. First, they challenge the familiar, triumphalist story of the rise of the West. Second, historians today work in crowded and competitive fields requiring increasingly narrow and precise specialisations. ... Finally, there’s the simple fact that Western scholars’ ability to follow historical connections can be limited by the lack of knowledge of central Asian languages.
While the cash offers can seem too big to refuse, they may also appear to come from the corporate equivalent of deep space, so sparse is the information available on the bidder. ... Anbang is a case in point. The group company, which launched a $13.1bn bid for US hotel operator Starwood Hotels this week, quickly following its offer of $6.5bn for Strategic Hotels & Resorts, has never published an audited financial statement. Neither does it divulge the identity of its ultimate owners, give a full list of its executives or explain how its growing roster of foreign subsidiaries fit within 10 business divisions listed on its website. ... Anbang, which is just 12 years old, astounded the Chinese insurance world in 2014 with successive fundraising rounds that expanded registered capital from Rmb12bn ($1.8bn) to Rmb62bn in less than a year, introducing 31 new investors. This propelled it to first place among insurers, outstripping the likes of China Life and the People’s Insurance Co of China, even though they far eclipse it in terms of premiums. ... A broader concern about China Inc’s acquisition spree stems from questions about why it is happening. Is it being driven by strength, or is it a reflection of the waning vigour of heavily indebted corporations in a slowing domestic market? To a significant degree, analysts say, the exodus of Chinese investment capital is in fact a “quest for cash flow”. ... Data from the 1,627 domestically listed companies, or 58 per cent of the total, that have reported their 2015 earnings show a clear deterioration in fortunes.
He bounces from smart locks, to smart lights, to a smart shower, to smart shoe insoles. It almost backfires when a Samsung representative demonstrating a smart refrigerator reaches out and flips his badge back over, asking, “What are you, press?” But his name doesn’t mean anything to her, and Pichai just casts an amused sideways glance and dives in with questions. “So, what can I ask the fridge?” he wants to know. Various versions of this same scene play out again and again. ... With $74.5 billion in annual revenue last year, Google is by far the largest (and only profitable) business under Alphabet. Indeed, Google has seven different products that more than a billion people use: Search, Gmail, YouTube, Android, Chrome, Maps, and its app and media vending machine, the Google Play Store. ... Google is sprinting to attract its “next billion” users. For the most part, these are people in the developing world; people who will go online, for the very first time, using one of Google’s Android-powered handsets. Which puts Google in the position of being seen as both a corporate NSA and modern East India Company. ... Android was, very literally, made for this moment. Its entire point is to be customized, reconfigured, and personalized for a world full of people across a range of sizes, shapes, configurations, and price points. Sure, signs for the $550 Nexus abound, but you can also score a cheap Android phone in Delhi, like a Lava Atom X, for less than $40 — and that’s without a contract. It will, Pichai thinks, change the status quo not just in India, but the entire world.
Thomas Kelly, the American ambassador here, likes to say that Djibouti today feels like what Casablanca must have felt like in 1940. “All the different nationalities elbowing into each other,” he says. “All the intrigue.” ... About 4,000 soldiers and contractors live here, and they include commandos from Joint Special Operations Command, the team that undertakes the military’s most sensitive counterterrorism operations. After the 2012 attack on the diplomatic mission in Benghazi, Libya, a 150-member rapid response team was established at Camp Lemonnier, assigned to handle future threats to diplomatic personnel abroad. Djibouti is also the U.S. military’s regional hub for drones, and it sends thousands of Predators and Reapers across the region each year.
IN THE 2013 offseason -- coming off a year in which Curry had started 78 games and the Warriors had made the Western Conference semis -- Nike owned the first opportunity to keep Curry. It was its privilege as the incumbent with an advantage that extended beyond vast resources. "I was with them for years," Curry says. "It's kind of a weird process being pitched by the company you're already with. There was some familiar faces in there." ... Curry was a Nike athlete long before 2013, though. His godfather, Greg Brink, works for Nike. He wore the shoes growing up, sported the swoosh at Davidson. ... Nike had every advantage when it came to keeping Curry. Incumbency is a massive recruiting edge for a shoe company, as players often express a loyalty to these brands their NBA franchises might envy. And Nike wasn't just any shoe company. It's the shoe company that claims cultural and monetary dominance over the sneaker market. According to Nick DePaula of The Vertical, Nike has signed 68 percent of NBA players, more than 74 percent if you include Nike's Jordan Brand subsidiary. ... According to Forbes, Nike accounted for 95.5 percent of the basketball sneaker market in 2014. In short, its grip on the NBA universe is reflective of a corporation claiming Michael Jordan heritage and a $100 billion market cap -- all advantages that might explain why Nike's pitch to Curry evoked something hastily thrown together by a hungover college student. ... A PowerPoint slide featured Kevin Durant's name, presumably left on by accident, presumably residue from repurposed materials. "I stopped paying attention after that," Dell says.