Daily Crunch - Trump bans transactions with ByteDance and Tencent

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Friday, August 07, 2020 • By Anthony Ha

Trump escalates his campaign against Chinese tech companies, Facebook extends work from home until the middle of 2021 and Netflix adds support for Hindi. Here’s your Daily Crunch for August 7, 2020.

Trump signs orders banning US business with TikTok owner ByteDance and Tencent's WeChat Both orders will take effect in 45 days, but its specific impact is unclear since Secretary of Commerce Wilbur Ross will apparently not identify what transactions are covered until then. This comes after Trump had already said that he was banning TikTok unless the app is sold to an American owner. (Specifically Microsoft, which has acknowledged that it’s in acquisition talks.) TikTok hit back against the order by saying that it was "issued without any due process" and would risk "undermining global businesses' trust in the United States' commitment to the rule of law." Read more Image Credits: Win McNamee / Getty Images

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The tech giants Facebook extends coronavirus work from home policy until July 2021 — Facebook has joined Google in saying it will allow employees to work from home until the middle of next year as a result of the coronavirus pandemic. Netflix's latest effort to make inroads in India: Support for Hindi — Netflix has rolled out support for Hindi, a language spoken by nearly half a billion people in India. Judge says Uber, Lyft preliminary injunction ruling to come in 'a matter of days' — Lyft argued that reclassifying drivers as employees would cause irreparable harm. Image Credits: Getty Images

Startups, funding and venture capital The rules of VC are being broken — The latest episode of Equity discusses “rolling funds” and how they could change the VC landscape. Mashroom raises £4M for its 'end-to-end' lettings and property management service — The startup pitches itself as going "beyond the tenant-finding service" to include the entire rental journey. Wendell Brooks has resigned as president of Intel Capital — Anthony Lin, who has been leading mergers and acquisitions and international investing, will take over on an interim basis. Image Credits: Mashroom

Advice and analysis from Extra Crunch How to pick the right Series A investors — It's important for founders to get to know the people coming onto their board, and Jake Saper of Emergence Capital has some thoughts on how to do that. IoT and data science will boost foodtech in the post-pandemic era — Three "must-dos" for post-pandemic retail grocers: rely on the data, rely on the biology and rely on the hardware. Survey: Tell us what you think of Extra Crunch — Like Extra Crunch? Don’t like Extra Crunch? Tell us why! (Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.) Image Credits: MirageC / Getty Images

Everything else Civic tech platform Mobilize launches a census hub for the 2020 count's critical final stretch —The new site, GetOutTheCount.com, will amplify nonprofits’ census efforts and collect them in one place. Federal judge approves ending consent decrees that prevented movie studios from owning theaters — U.S. District Court Judge Analisa Torres cited the rise of streaming services like Netflix as one of the reasons for her decision. Image Credits: Photo Illustration by Justin Sullivan/Getty Images / Getty Images

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