Hedge funds flock to Silicon Valley
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 13 September 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/40cef59a-441b-4b97-bea8-7a3ec838bc4b
Beijing wants to break up Alipay and create a separate app for the company’s highly profitable loans business, Norway’s voters will weigh in on the country’s petroleum production in what’s being called a “climate election,” and a new analysis found that Ireland is failing to keep US Big Tech companies in check. Plus, the FT’s Laurence Fletcher explains why hedge funds are muscling into Silicon Valley and making a record number of deals.
FT survey: The return to the office - are you under pressure to go back?
https://survey.ft.com/jfe/form/SV_4MZ2tuhkW4NghKu
Beijing to break up Ant’s Alipay and force creation of separate loans app
https://www.ft.com/content/01b7c7ca-71ad-4baa-bddf-a4d5e65c5d79
Norway’s oil rises to top of election agenda as climate fears grow - with Richard Milne
https://www.ft.com/content/70b3ec35-6558-4032-9a0c-47c40a6df5a8
Ireland ‘fails’ to enforce EU law against Big Tech
https://www.ft.com/content/5b986586-0f85-47d5-8edb-3b49398e2b08
Hedge funds muscle in to Silicon Valley with private deals - with Laurence Fletcher
https://www.ft.com/content/4935b205-8344-465a-8edf-dc23ec990302
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Monday, September 13th, and this is your FT news briefing. |
| 0:08.6 | Voters in Norway are headed to the polls today, and climate is top of mind. We've got the latest |
| 0:14.0 | news about Beijing's big tech crackdown. Meanwhile, Ireland's data privacy watchdog is under fire for |
| 0:20.4 | going too easy on big tech. Plus, Silicon Valley is famous for venture capitalist backing innovation |
| 0:27.2 | tech startups. Now, another kind of financier is elbowing in. You get the sense that hedge funds |
| 0:32.8 | have moved in a sort of decisive way into this market, and they're here to save us some time. |
| 0:38.5 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:46.4 | In Norway, voters head to the polls today for national elections, and climate is taking center |
| 0:52.8 | stage. This is a country where oil has long been central to the economy, but a dire report |
| 0:58.8 | about the rate of climate change just out from the United Nations has fueled support in Norway |
| 1:03.7 | for more environmentally friendly policies. The FT's Richard Milne has more. |
| 1:09.4 | Climate has lurked in the background in Norwegian politics for a long time, but I think it's fair |
| 1:15.6 | to say that this year's elections was hard to say what they were about really up until this |
| 1:23.0 | report, but this report is sort of really given a vitamin boost to environmentalists. Not |
| 1:29.0 | least, the Green Party, which as you imagine, is very vocal on this. Their membership grew by a |
| 1:34.9 | third in just a couple of weeks, but also there are some smaller parties on both the left and |
| 1:41.7 | right that have picked up support, and it really has become what several leading politicians |
| 1:47.8 | said to me, the climate election. Richard, how dependent is Norway on its oil industry right now, |
| 1:54.0 | and are there plans to scale it back? It's the biggest industry in Norway. It's of declining |
| 2:01.4 | importance in terms of the number of jobs is going down, but it's still the biggest industry. |
| 2:08.4 | It's still very important. It's something that it's hard to scale back. Actually, Norway's oil |
| 2:15.4 | production, which had been pretty consistently declining from sort of 2000 onwards, has actually |
... |
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