FT News Briefing Hedge funds flock to Silicon Valley
Sep 13, 2021
Beijing is planning to break up Alipay, forcing it to create a separate app for its lucrative loans. Norway's elections are heating up as climate concerns take center stage, challenging its oil-dependent economy. Meanwhile, hedge funds are making waves in Silicon Valley, significantly increasing their investments and competing fiercely with traditional venture capitalists. This shift promises to reshape the tech investment landscape, offering new opportunities but also intensifying competition.
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Norway's Climate Election
- Norway's upcoming election focuses on climate change, impacting the country's reliance on the oil industry.
- The UN's climate report has boosted support for green policies, creating a division among voters about the future of oil.
Beijing's Alipay Breakup
- Beijing plans to break up Alipay, Ant Group's financial super app, to curb its data monopoly.
- A separate app for lending and a state-owned credit scoring venture will utilize Ant's user data.
Ireland's Data Protection Scrutiny
- Ireland's data protection watchdog faces criticism for its handling of Big Tech privacy complaints.
- An analysis reveals most complaints against US tech giants based in Dublin remain unresolved, sparking concerns about enforcement.