PACIFIC for April 16: SoftBank goes hard

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

Posted: Apr 16, 2018 5:47 PM
Updated: Apr 16, 2018 5:47 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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Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1097128

Reported Deaths: 17438
CountyCasesDeaths
Marion1437882222
Lake712531225
Allen65537867
Hamilton50147482
St. Joseph48760639
Elkhart39461538
Vanderburgh34221495
Tippecanoe30237271
Johnson27179463
Hendricks25845379
Porter25014381
Madison20656444
Clark19898275
Vigo18764308
LaPorte16857260
Delaware16425291
Howard16408311
Monroe16379217
Kosciusko13936163
Hancock12841185
Bartholomew12686188
Warrick11995189
Wayne11879265
Floyd11869225
Grant11701235
Morgan10252188
Boone9675120
Noble9069121
Henry9002165
Marshall8907146
Dearborn881799
Dubois8710139
Shelby8054128
Cass8014127
Lawrence7922182
DeKalb7591106
Huntington7448108
Jackson743893
Gibson7002118
Montgomery6910123
Harrison685296
Knox6827113
Steuben654186
Miami6477107
Whitley642260
Putnam631982
Clinton618976
Wabash6060108
Jasper601791
Jefferson5689103
Ripley549192
Adams532381
Daviess5003116
Scott480378
Wells471799
White468767
Greene461799
Clay457462
Decatur4529109
Jennings439666
Fayette435694
LaGrange419290
Posey403244
Washington384154
Randolph3818107
Fountain368362
Spencer355846
Fulton355572
Starke348772
Owen346276
Sullivan344954
Orange324470
Jay318650
Rush298332
Carroll289438
Franklin286744
Perry283253
Vermillion280458
Tipton247365
Parke246330
Pike244144
Blackford218044
Pulaski205658
Newton179052
Brown171850
Crawford167929
Benton163217
Martin150819
Switzerland145112
Warren132216
Union117816
Ohio91413
Unassigned0585

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1683472

Reported Deaths: 26483
CountyCasesDeaths
Franklin1766331826
Cuyahoga1641462636
Hamilton1122641528
Montgomery794721387
Summit702171199
Lucas618431017
Butler55878803
Stark525841170
Lorain41058639
Warren35404412
Mahoning35095769
Lake31445493
Clermont30711362
Delaware26682182
Trumbull26664611
Licking26200335
Medina25291351
Fairfield24173287
Greene24051369
Clark21653387
Portage20709280
Richland20587336
Wood19626246
Allen18542320
Miami17031348
Columbiana16502331
Muskingum16416206
Wayne15432304
Tuscarawas14086357
Marion13054194
Erie12423198
Ashtabula12314225
Scioto12235182
Pickaway12070151
Ross11487223
Hancock11256173
Geauga10666174
Lawrence10504171
Belmont10259231
Huron9588155
Jefferson9462225
Union939175
Sandusky9068166
Seneca8692156
Knox8618169
Washington8613156
Athens827396
Darke8270179
Ashland7840147
Auglaize7741115
Shelby7337132
Defiance7210114
Crawford7082150
Brown7052115
Fulton7016111
Logan6857108
Mercer681697
Guernsey680283
Highland6615117
Madison641389
Clinton6388106
Williams628798
Preble6171139
Putnam6089120
Jackson572396
Champaign568286
Perry558879
Coshocton5552103
Ottawa553599
Morrow506464
Fayette483170
Hardin477899
Gallia462978
Pike459076
Van Wert454691
Adams4514109
Henry424976
Hocking401493
Holmes3939137
Wyandot367973
Carroll351578
Paulding319349
Meigs302457
Monroe231860
Noble216447
Morgan210138
Harrison205152
Vinton183937
Unassigned05
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The warming trend is expected to continue through Thursday before cooler air returns to the Midwest.
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