June 4, 2020
Image: Airtel, Amazon
Good morning! This Thursday, Big Tech's India fight heats up, people want tech to put its money where its mouth is, and SoftBank doubles down on Wirecard. Want Index in your inbox each morning? Subscribe here.
As of 4:31 a.m. PDT: Nasdaq Futures: -0.20% | Euro 600: -0.49% | Nikkei: 0.36% | Hang Seng: 0.17%
When someone asks me what Index is about, I normally say "the business of technology." I don't cover tech culture or policy, leaving that to my much more able colleagues; I simply write about the things that affect how tech companies make money. This week's Black Lives Matter protests fall into that category.
"Tech companies want to have it both ways," Fight for Our Future's Evan Greer told Protocol.
It's not just directly-involved companies under pressure, either.
The already-hot battle for India just got even hotter: Reuters reports this morning that Amazon is in talks to take a $2 billion stake in Bharti Airtel.
And now Amazon's here too. The investment it's discussing would get it a roughly 5% stake in Bharti, India's third-largest provider.
If this deal goes through, it will be notable for its symbolism.
SoftBank is seemingly continuing its WeWork approach of doubling down on questionable investments. Bloomberg reports that Samuel Merksamer, a partner at SoftBank Investment Advisers, is in talks to join Wirecard's supervisory board. That's the same Wirecard that has been accused of accounting fraud, which a KPMG audit said it couldn't rule out. I look forward to seeing how this turns out.