Why the search leader’s antitrust deal fell apart ... The more Europeans rely on Google, however, the more they’ve come to fear it, making it an easy target for politicians. Last November members of the European Parliament voted 384 to 174 for a symbolic proposal to break up the search giant into two separate pieces—its monolithic search engine and everything else. In Spain, Google has been forced to shut down Google News over copyright issues. In Germany, it has stopped collecting images for its Street View navigation service because of privacy concerns. The memory of Stasi secret police surveillance in the former East makes such issues especially sensitive. More recently, Google has been forced to comply with an EU “right to be forgotten” ruling and to remove embarrassing items from its search database at the behest of users. ... Critics now draw from a wealth of evidence about the decision-making inside the Googleplex during this period, owing to perhaps the strangest twist in the entire case. Earlier this year every other page of a staff memo written by the Federal Trade Commission’s Bureau of Competition was mistakenly included in the response to a Freedom of Information request made by the Wall Street Journal. The 169-page FTC document quotes liberally from internal e-mails and memos, during the time when Google’s partners were noticing many of these changes to the search engine—and what they contained seemed incriminating.
Under Cheng, Didi has expanded in just four years to 400 Chinese cities. The service lets users digitally hail and pay for taxis, private cars, limousines, and commuter buses. Cheng says 80 percent of all taxi drivers in China now use Didi to find passengers. So many people use the app, it can be difficult to get a cab during rush hour without it. Investors recently valued Didi at $35 billion, making it one of the most valuable private companies in the world. Uber, with operations in almost 500 cities on six continents, is worth $68 billion. ... Cheng was born in Jiangxi province, a landlocked region in eastern China famous for being the cradle of Mao Zedong’s Communist revolution. His father was a civil servant, his mother a mathematics teacher. He says he excelled at math in high school but during his college entrance exams neglected to turn over the last page of the test, leaving three questions blank. He got into the Beijing University of Chemical Technology, less prestigious than the upper-echelon schools. ... it turned out that Didi had a few advantages over the competition. Some were copying Uber’s U.S. strategy of working with limousine and town car chauffeurs. But there are far fewer black cars than yellow cabs in China. ... Instead of imitating competitors and giving away smartphones to drivers, an expensive proposition for a capital-strapped startup, they focused on providing their free app to younger drivers who already had phones and were likely to spread the word about Didi.
They were assigned perhaps the most urgent rescue mission in business today: Repurpose Wal-Mart’s historically underachieving internet operation to compete in the age of Amazon. ... Lore cuts an unusual figure at the Bentonville headquarters, which he now visits once a month on a private company plane, and in the geeky hallways of San Bruno and Sunnyvale, Calif., where most of Walmart.com’s engineers work. He’s a former bank risk manager and longtime New Jersey resident who’s a fan of Bruce Springsteen and of figuring out ways to simplify the routines of daily life. He recently ditched his Tesla and uses only Uber, for example, and he visits the same sushi restaurant near his office four times a week, always ordering the salmon sashimi. He also spends time on customer-pleasing contrivances that, in the parlance of Silicon Valley, do not scale. He recently devoted a 12-hour day to recording a thousand variations of a video greeting for new Jet customers. Now when customers sign up, Lore welcomes them by their first name. ... He’d like to extend Jet’s sensibility and business model to Walmart.com, the second-biggest e-commerce destination in the U.S., according to ComScore Inc. ... Wal-Mart has a lot riding on Lore. Last year he received $244 million in pay, 10 times that of his boss, Doug McMillon, Wal-Mart’s CEO. His project could determine the future of Sam Walton’s legacy and the eventual success of McMillon.
- Also: Barron's - The Amazoning of American Retail 5-15min
- Also: Bloomberg - Why the Retail Crisis Could Be Coming to American Groceries < 5min
- Also: Bloomberg - The Long, Hard, Unprecedented Fall of Sears < 5min
- Also: Bloomberg - Mall Owners Fighting Online Stores Turn to Concerts, Food Trucks < 5min