“China’s attack on tech”
Since a few months back the Chinese government has been waging a regulatory war on the countries tech giants, costing investors as much as $1trn! Tencent’s WeChat had to stop sign-ups to focus its energy on “relevant laws and regulations”. The $100bn tutoring industry has basically been told to go non-profit. But what is really going on here??
For one, Mr Xi’s immediate goal may be to humble tycoons and give regulators more power but the underlying ambition (some claim) is to maintain long-term growth for China. As well as take stronger positions in some key industries. There is a “Made in China 2025” policy.
The Economist has a few great article’s in the recent issue summarizing and discussing.
RELATED ARTICLE: Xi Jinpings assault on tech will change Chinas trajectory
IKEA becomes an energy company?
Ingka Group, the owner company of IKEA recently announced that they will start selling renewable energy to end customers. It will initially be offered to the Swedish market where Ingka has teamed up with Svea Solar who will buy the renewable electricity on the nordic power exchange. Svea Solar also produces the solar panels sold at IKEA stores. This is seen as a step towards IKEA’s goal of becoming climate positive, as end customers’ consumption of IKEA products is said to account for 20% of their total climate footprint.
RELATED ARTICLE: Ikea starts selling renewable energy households Sweden
Should WFH pay less?
Big tech companies are experimenting on what working from home permanently could mean for your salary. 5-15% pay cuts says Google!
Our compensation packages have always been determined by location, and we always pay at the top of the local market based on where an employee works from
a Google spokesperson said. Facebook and Twitter have also reduced pay for people who move to cheaper locations. Very interesting trend to follow! Will this mentality spread to other companies?
RELATED ARTICLE: Pay cut google employees who work home could lose money