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.

Cases: 537828

Reported Deaths: 7010
CountyCasesDeaths
Hennepin1120831667
Ramsey46402845
Dakota40949413
Anoka37022412
Washington24118273
Stearns20436213
St. Louis16304294
Scott15379115
Wright14242124
Olmsted1254095
Sherburne1011078
Carver938642
Clay763489
Rice7373100
Blue Earth674440
Kandiyohi617079
Crow Wing586986
Chisago533848
Otter Tail529373
Benton515896
Mower445032
Winona434149
Douglas430270
Goodhue428271
Nobles395747
Morrison380358
McLeod378354
Beltrami364257
Polk358566
Isanti356859
Itasca356051
Steele344614
Becker341548
Lyon341048
Carlton321052
Freeborn318529
Pine304621
Nicollet297342
Brown288439
Mille Lacs268147
Todd264030
Le Sueur263722
Cass240326
Meeker226037
Waseca225320
Martin208429
Wabasha19793
Roseau192418
Dodge16774
Hubbard166841
Renville166743
Redwood162735
Houston161814
Cottonwood151320
Fillmore15009
Pennington148419
Chippewa143436
Faribault141019
Wadena139120
Sibley131210
Aitkin125836
Watonwan12419
Kanabec124021
Rock120618
Jackson112310
Yellow Medicine108018
Pipestone106925
Murray10119
Pope9816
Swift96918
Marshall83417
Stevens78910
Lake77719
Wilkin75212
Clearwater75014
Koochiching73611
Lac qui Parle72922
Big Stone5544
Lincoln5502
Grant5378
Norman5109
Mahnomen4888
Unassigned48278
Kittson43622
Red Lake3796
Traverse3585
Lake of the Woods2912
Cook1440

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 354126

Reported Deaths: 5789
CountyCasesDeaths
Polk55359596
Linn20099328
Scott18614234
Black Hawk15431306
Woodbury14733219
Johnson1379980
Dubuque12985202
Dallas1080196
Pottawattamie10574158
Story1021947
Warren546586
Clinton529789
Cerro Gordo517586
Webster506091
Sioux502173
Marshall476074
Muscatine452996
Des Moines438064
Wapello4237120
Buena Vista420740
Jasper406070
Plymouth393379
Lee366355
Marion353475
Jones291655
Henry285337
Bremer278060
Carroll277550
Crawford261539
Boone255731
Benton248755
Washington247849
Dickinson237443
Mahaska222449
Jackson216842
Kossuth211161
Clay207525
Tama206170
Delaware200239
Winneshiek191833
Page188720
Buchanan186631
Fayette182541
Cedar182223
Wright178335
Hardin178142
Hamilton176649
Harrison174473
Clayton165255
Butler161834
Mills156920
Cherokee156238
Floyd154242
Lyon153141
Poweshiek152033
Madison151719
Allamakee148951
Iowa144624
Hancock142234
Winnebago135131
Grundy134632
Cass133654
Calhoun133011
Jefferson130435
Emmet127040
Shelby126237
Appanoose125947
Louisa125848
Sac125619
Mitchell125241
Union123732
Chickasaw121815
Humboldt117826
Guthrie116528
Franklin112321
Palo Alto109322
Howard102522
Unassigned10010
Montgomery99437
Clarke97923
Keokuk94230
Monroe92728
Ida88233
Adair83932
Pocahontas83021
Monona80430
Davis79824
Greene76210
Lucas74822
Osceola73316
Worth6958
Taylor64812
Fremont60310
Decatur5889
Van Buren55318
Ringgold53322
Wayne51723
Audubon4909
Adams3264
Rochester/St. Mary'S
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