What we know (and dont) about Goldman Sachs Africa VC investing

Goldman Sachs is investing in African tech companies. The venerable American investment bank and financial services firm has backed startups from Kenya to Nigeria and taken a significant stake in e-commerce venture Jumia, which listed on the NYSE in 2019. Though Goldman declined to comment on its Africa VC activities for this article, the company has spoken to TechCrunch in the past about specific investments. Goldman Sachs is one of the most enviable investment banking shops on Wall Street, generating $36 billion in net revenues in 2019, or roughly $1 million per employee. It’s the firm that always seems to come out on top, making money during the financial crisis while its competitors were hemorrhaging. For generations, MBAs from the …

Facebook says government demands for user data are at a record high

Facebook’s latest transparency report is out. The social media giant said the number of government demands for user data increased by 16% to 128,617 demands during the first half of this year compared to the second half of last year. That’s the highest number of government demands it has received in any reporting period since it published its first transparency report in 2013. The U.S. government led the way with the most number of requests — 50,741 demands for user data resulting in some account or user data given to authorities in 88% of cases. Facebook said two-thirds of all the U.S. government’s requests came with a gag order, preventing the company from telling the user about the request for …

Twitters political ads ban is a distraction from the real problem with platforms

Sometimes it feels as if Internet platforms are turning everything upside down, from politics to publishing, culture to commerce, and of course swapping truth for lies. This week’s bizarro reversal was the vista of Twitter CEO Jack Dorsey, a tech CEO famed for being entirely behind the moral curve of understanding what his product is platforming (i.e. nazis), providing an impromptu ‘tweet storm’ in political speech ethics. Actually he was schooling Facebook’s Mark Zuckerberg — another techbro renowned for his special disconnect with the real world, despite running a massive free propaganda empire with vast power to influence other people’s lives — in taking a stand for the good of democracy and society. So not exactly a full reverse then. In …

China attacks Apple for allowing Hong Kong crowdsourced police activity app

Apple’s decision to greenlight an app called HKmaps, which is being used by pro-democracy protestors in Hong Kong to crowdsource information about street closures and police presence, is attracting the ire of the Chinese government. An article in Chinese state mouthpiece, China Daily, attacks the iPhone maker for reversing an earlier decision not to allow the app to be listed on the iOS App Store — claiming the app is “allowing the rioters in Hong Kong to go on violent acts” (via The Guardian). HKmaps uses emoji to denote live police and protest activity around Hong Kong, as reported by users. The former British colony is a special administrative region of the People’s Republic of China that’s been able to …