PACIFIC for April 16: SoftBank goes hard

What's New: The Top 100 Venture Capitalists ...

Posted: Apr 16, 2018 4:47 PM
Updated: Apr 16, 2018 4:47 PM

What's New: The Top 100 Venture Capitalists per CB Insights: 1. Bill Gurley, Benchmark ... 2. Steve Anderson, Baseline ... 3. Joshua Kopelman, First Round ... 4. Alfred Lin, Sequoia ... 5. Brian Singerman, Founders Fund ... 6. Jeffrey Jordan, Andreessen Horowitz ... 7. Rob Hayes, First Round ... 8. Ravi Mhatre, Lightspeed ... 9. Mary Meeker, Kleiner Perkins ... 10. Jeremy Liew, Lightspeed ... First-time appearances: 41. Shawn Carolan, Menlo ... 79. Albert Wenger, Union Square ... 80. Meyer Malka, Ribbit ...

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What's Next: NYT's Jack Nicas: "Investors, bankers and analysts said they expected a wave of initial public offerings to bring some of the most highly valued and recognizable start-ups to the public market over the next 18 to 24 months..."

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Today's PACIFIC

Good morning. We'll keep it short.

The Week Ahead:

- Netflix: Earnings are today. My colleague Jordan Valinsky says Netflix is expecting a 40% increase in sales and a 60% jump in profit compared to a year ago, plus 7.5 million new subscribers since last quarter.

- AT&T-DOJ: AT&T CEO Randall Stephenson and Time Warner CEO Jeff Bewkes are expected to testify this week in defense of their $85.4 billion merger.

- Cybersecurity: The RSA Security conference kicks off today in San Francisco. Microsoft and others plan to announce a new "Tech Accord" to protect users, while an new IBM Harris survey shows only 20% of Americans trust tech companies with their data.

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Tokyo Drift: SoftBank shakes VCs

What's Next: SoftBank's $100 billion Vision Fund has radically driven up financing for startups and forced other VCs into unwanted bidding wars. And it is just getting started: So far, Softbank has invested just over one-third (roughly $36 billion) of its fund.

The Shake Up:

- WSJ's Eliot Brown: The cash injection is "causing deep-pocketed global investors -- and some US venture firms -- to arm up in response. ... Sequoia Capital ... is in the process of raising up to $13 billion, including an $8 billion fund for late-stage companies."

- Saudi Arabia and Abu Dhabi, the two primary backers of the fund, are also increasing direct investments into Silicon Valley startups.

- More than 100 US startups raised at least $50 million each in Q1 of this year, the highest number on record, according to Pitchbook.

The Latest:

- SoftBank investment Ola has unveiled plans to deploy 1 million electric vehicles across India. We wonder how that news is going over at Softbank's other big auto investment: Uber.

- SoftBank has expressed interest in Tronc, per Axios' Dan Primack.

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What Bill Gates is reading

The Economist launches Open Future: "Amid anger over inequality, immigration and cultural change, basic elements of the liberal credo, from globalization to free speech, are assailed from right and left. ... So we have launched Open Future, an initiative to remake the case for liberal values and policies in the 21st century. ... The initiative will culminate in a global event, the Open Future Festival, held simultaneously in Hong Kong, London and New York on Saturday September 15th."

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The Ad Game: WPP post-Martin Sorrell

Valinsky emails:

Martin Sorrell's decision to step down as CEO of WPP has raised fears about the longterm strategy for the world's largest ad agency. The move comes two weeks after WPP launched an investigation into alleged misconduct by the 73-year-old:

- WPP shares are down nearly 7%.

- Sorrell to staff: "As I look ahead, I see that the current disruption we are experiencing is simply putting too much unnecessary pressure on the business."

- Bloomberg's Joe Mayes: "[T]he sprawling network of agencies faces its biggest challenges since the global financial crisis. ... His departure ... puts into sharp focus WPP's omissions in grooming a successor ... even with shareholders long flagging the issue."

- Egyptian telecom magnate Naguib Sawiris: "He's created a success story that is very difficult to replicate. ... This is not the kind of guy you can replace and think the next CEO will do a good job."don and New York on Saturday September 15th."

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El Segundo Times: L.A. Times to move

Some quick local news: New Los Angeles Times owner Patrick Soon-Shiong abruptly announced Friday that he is moving the paper from its historic art deco building in downtown Los Angeles to the westside suburb of El Segundo.

Staffers I spoke with over the weekend said the news had left the newsroom stunned and anxious about what it would mean for the identity of the paper, as well as their daily commute.

What Soon Shiong is telling staff: The move puts the Times closer to Silicon Beach and to Los Angeles International Airport, which is the gateway to the world.

What staffers are telling us: This is a radical cost-saving measure that could kill morale.

Bonus for the DTLA crowd: "Potential 2020 hopeful Eric Garcetti makes debut in Iowa" by the AP's Thomas Beaumont and Bill Barrow.

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Dub Shot: NBA Playoff watch

Three things we learned from NBA Playoffs opening weekend:

1. James Harden is unstoppable. He had 44 points last night and was 7-of-12 from 3-point range. Charles Barkley, last night on TNT: "Harden, to me, might be the most unguardable player I've ever seen."

2. OKC's hopes rest on Westbrook and George. The Ringer's Jonathan Tjarks: "Everything in Oklahoma City depends on Westbrook and George, since the mix around them is far from ideal."

3. The Milwaukee-Boston series is the new "Game of Thrones." Binge that.

Tonight: Heat vs. 76ers at 5pm, Spurs vs. Warriors at 7:30pm. TNT.

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What Next: Jon Caramanica reviews Beyonc- at Coachella.

See you tomorrow.

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Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 22947

Reported Deaths: 977
CountyConfirmedDeaths
Hennepin7695581
Ramsey2698110
Stearns199512
Nobles14963
Anoka128963
Dakota120249
Olmsted58210
Washington57630
Kandiyohi4761
Rice4232
Clay41625
Scott3832
Todd2960
Wright2801
Mower2311
Sherburne2222
Carver1892
Benton1733
Steele1490
Blue Earth1261
Martin1265
St. Louis11714
Freeborn1020
Unassigned9410
Pine890
Nicollet827
Winona7815
Carlton730
Cottonwood690
Watonwan640
Otter Tail630
Goodhue603
Polk592
Crow Wing591
Chisago541
Itasca548
Dodge460
Le Sueur441
Meeker440
Chippewa441
Morrison410
Jackson390
Douglas390
Lyon380
Murray360
Becker360
Isanti320
McLeod300
Waseca250
Rock220
Mille Lacs191
Wabasha170
Fillmore171
Pennington170
Swift170
Sibley150
Beltrami140
Brown142
Cass132
Faribault130
Wilkin113
Norman110
Kanabec111
Pipestone100
Marshall90
Wadena80
Pope80
Aitkin70
Koochiching70
Yellow Medicine60
Lincoln50
Mahnomen51
Renville50
Big Stone40
Red Lake40
Redwood40
Clearwater30
Traverse30
Lac qui Parle30
Grant30
Houston20
Roseau20
Hubbard10
Lake10
Kittson10
Stevens10

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 18559

Reported Deaths: 506
CountyConfirmedDeaths
Polk3930118
Woodbury267232
Black Hawk172443
Linn94176
Marshall88215
Dallas87517
Buena Vista7020
Johnson6078
Muscatine54941
Wapello5456
Crawford4892
Tama40026
Scott35210
Louisa34210
Dubuque33418
Jasper25816
Pottawattamie2348
Sioux2130
Washington1858
Wright1450
Allamakee1204
Plymouth1191
Warren1160
Story991
Mahaska918
Poweshiek898
Bremer676
Henry671
Clinton601
Des Moines591
Boone570
Taylor490
Guthrie463
Cedar461
Clarke450
Benton391
Monroe385
Jones360
Iowa350
Shelby340
Clayton323
Osceola320
Buchanan320
Webster321
Marion310
Hamilton290
Madison271
Fayette260
Cerro Gordo251
Monona240
Cherokee240
Lee240
Winneshiek230
Davis200
Grundy190
Lyon190
Jefferson190
Harrison190
Floyd181
Sac170
Dickinson160
Mills160
Hardin160
Hancock160
Humboldt150
Butler150
Delaware150
Appanoose143
Ida140
Keokuk140
Greene130
Clay130
Howard120
Audubon121
Emmet120
Lucas120
Cass110
Jackson110
Page110
Winnebago110
Franklin100
Pocahontas100
Carroll90
Van Buren90
Kossuth90
Chickasaw80
Adair80
Union70
Adams70
Montgomery60
Mitchell50
Ringgold40
Fremont40
Palo Alto30
Worth30
Calhoun20
Wayne10
Decatur10
Unassigned10
Rochester
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Austin
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Feels Like: 61°
Charles City
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Feels Like: 61°
Lingering showers Thursday AM will turn to sunshine by the afternoon
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