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Thanks for reading Newley’s Notes, a weekly* newsletter in which I share my WSJ stories, posts from my blog, and various interesting links.
*Okay, make that mostly weekly! I have been traveling and generally busy in recent weeks, and thus have missed sending these missives out on occasion. But I shall endeavor to do better.
What I wrote in The Wall Street Journal
– Uber Rival Grab Gains Ground in Southeast Asia – a look at how Singapore-based Grab, an Uber competitor operating in six Southeast Asian countries, is doing in its battle with the U.S. behemoth. The story begins:
SINGAPORE—Uber Technologies Inc. is locked in major tussles with local rivals in China and India, but a homegrown upstart is also grabbing an advantage in the race for another Asia prize.
A startup called Grab is winning ride-hailing turf in Southeast Asia—home to 600 million people, almost double the population of the U.S. The startup serves more cities in the region than Uber and, according to mobile-app analytics firm App Annie, is beating the world’s most valuable startup in the race for users here.
Click through for a graphic and photos. There’s also a video online here; you may recognize the narrator’s voice.
– Indian Internet Startups Face Money Crunch – The story begins:
Investors’ enthusiasm for Indian startups continues to wane.
Private-equity and venture-capital funds raised by Internet companies in the world’s second-most-populous country fell 56% to $528 million in the three months ended June 30.
That is a sharp drop from the $1.19 billion raised in the previous quarter and $1.3 billion a year earlier, according to a research report from Jefferies India.
What I wrote at Newley.com
– Why You Shouldn’t be Surprised When England Lose – I posted this item a few hours before they kicked off against Iceland…and promptly lost. From the post:
Here’s why you shouldn’t be surprised that the England national team aren’t more successful than they are.
Are you ready?
Here it is:
They’re actually not a global footballing power.
(Between the loss and Brexit, “This has been the worst week to be English since the Second World War,” as one Briton told The WSJ.)
5 items that are worth your time this week:
1) Speaking of which, Englishman John Micklethwait, editor-in-chief of Bloomberg News, reflects on Brexit:
The great sweep of economic history is a series of “rises” and “falls”—from the fall of Rome to the rise of China. The intriguing episodes that spark the “what ifs” of history come lower down—when a medium-size power suddenly reverses an inevitable-seeming trajectory. That’s what Britain did under Margaret Thatcher and her successors: a crumbling country unexpectedly overturning years of genteel decline to become Europe’s most cosmopolitan liberal entrepôt. My fear is this revival ended on June 23, 2016.
2) Meanwhile, Sohrab Ahmari’s recent “Illiberalism: The Worldwide Crisis” – written, as it happens, before Brexit even occurred – is worth a read. It begins:
According to the bland conventional wisdom, Americans frustrated by the failure of the establishment to address issues like immigration and economic inequality have turned to an unlikely pair of political outsiders, a New York developer-turned-reality-TV-star and a Vermont socialist, to set things right. This account is true as far as it goes, but it is also hopelessly parochial and inadequate to the scope of the changes afoot. Trumpism (and Bernie Sanders-ism) are but the American symptoms of a global phenomenon: the astonishing rise of illiberal movements of the far right and far left.
3) Amazon is said to be run by super-smart analytic types who live and die by spreadsheets. But here’s a look at a decidedly right-brained group within the tech titan: the Amazon Book Reviewers team.
4) “The History of Urbanization, 3700 BC – 2000 AD” is a video charting, in just over three minutes, the rise of global cities through the millennia. Very cool.
5) This amazing collection of photos of Fourth of July fireworks packaging makes me miss America so much.
Have a great week!
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- By Me Today: Uber Hits Roadblocks in Southeast Asia
- By Me Monday: How Singapore’s Grab is Battling Uber Here in Southeast Asia
- Uber Agrees in Principle to Exit Southeast Asia for Stake in Rival
- Scoop Mon. With Colleagues: Indonesia’s Go-Jek in Talks to Raise $1 Billion
- By Me Last Week: GrabTaxi Is Becoming Grab