• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
NewslettersData Sheet

How Tech Business Interests and Politics Could Clash in India—Data Sheet

By
Aaron Pressman
Aaron Pressman
and
Adam Lashinsky
Adam Lashinsky
Down Arrow Button Icon
By
Aaron Pressman
Aaron Pressman
and
Adam Lashinsky
Adam Lashinsky
Down Arrow Button Icon
August 26, 2019, 9:13 AM ET
Add Fortune on Google for similar content.

This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here.

There’s a reason the business world is agog about India. Its economy grows at more than twice the rate of the United States, it has 1.3 billion people, and some of the smartest minds in tech hail from or call India their home. Not a day goes by without some evidence of vibrancy:

* Aaron has published a short article about the remarkable rise of Reliance Jio, which he dubs India’s “wireless wonder.” The mobile-phone arm of the energy and insurance conglomerate has more than 300 million subscribers despite having started up just three years ago. That can’t happen anywhere else in the world.

* Amazon has invested in Future Retail, an Indian bricks-and-mortar chain. This is a potentially important move because the government of Prime Minister Narendra Modi changed the rules on foreign e-commerce companies just before his re-election this year. It is unclear if Amazon will be able to up its stake in Future to stay relevant in India.

* It has been almost exactly a year since Walmart spent $16 billion for a controlling stake in Indian e-commerce company Flipkart. Bloomberg reported recently that PhonePe, a payments startup inside Flipkart, plans to raise capital at a valuation of as much as $10 billion—an unexpected bonus for Walmart.

All this is happening against the backdrop of Indian leader Modi’s blatantly authoritarian move to re-make the political order in Kashmir, a formerly semi-autonomous region of India where Muslims are in the majority. It’s a microcosm of the China story: There’s so much damn money to be made that multinational businesses will look the other way as long as they possibly can.

***

As a too-frequent flier, I so enjoyed this lovely and erudite essay by the Danish writer Morten Hoi Jensen, “Air Travel Hasn’t Lost Its Magic.” I plan to try to embrace his cup-half-full thinking next time I need a dollop of calm while traveling hither and yon.

Adam Lashinsky

On Twitter: @adamlashinsky

Email: adam_lashinsky@fortune.com

NEWSWORTHY

Just stop talking. After a few too many controversies, Google is tamping down political discussions among its employees. In new community guidelines, the company says workers should "avoid conversations that are disruptive to the workplace or otherwise violate Google’s workplace policies.”

Just stop talking, the sequel. Tech stocks were particularly hurt on Friday by President Trump's tweet that he was ordering all American companies out of China. AMD lost 7%, Nvidia, Apple, and Qualcomm 5%, Intel and IBM 4%. And what happens on Monday is anybody's guess, as stock futures gyrated wildly before the market opened on competing tweets from Trump and Chinese officials about the state of trade talks. Also, Qualcomm is bouncing back 2% pre-market, as a federal appeals court on Friday partially stayed a lower court ruling against the company in the antitrust case filed by the Federal Trade Commission.

Out to pasture. A few years ago, the question was who wouldn't have a mobile wallet app and/or phone pay service. Now we're in the consolidation phase. Mega-bank JP Morgan Chase is killing its mobile pay app, Chase Pay.

No binge for you. Some more details have leaked about Disney's upcoming streaming service, some appealing, some less so. The $7-a-month Disney Plus service will allow four simultaneous sign ons and include 4K HDR video quality, CNET reports. But episodes of original series will be dribbed and drabbed out weekly, not all at once, Netflix-style.

Shelf stocking shenanigans. An investigation by the Wall Street Journal of toys and other items listed on Amazon's web site found thousands for sale by third party sellers that were improperly labeled, had been deemed unsafe, or were banned by federal regulators. Amazon said it moves quickly to protect customers when concerns arise about items listed for sale. In other Amazon controversies, major book publishers including Penguin Random House and Simon & Schuster sued the company on Friday for copyright infringement over a new captioning service for Audible audiobooks that relies on an A.I. program to generate text in real time. Audible said the captioning is an educational feature designed to improve literacy and "is not and was never intended to be a book.”

Regifting. VMware is indeed acquiring its sister Dell Technologies company Pivotal Software for $11.71 per share, as we reported on Friday. But what we missed is that $11.71 is the blended price being paid for all share classes. Holders of Class A shares from Pivotal's IPO last year will get $15, the same price charged in the IPO, not a penny less.

FOOD FOR THOUGHT

Without much fanfare or magazine cover story treatment, e-commerce service Shopify has become a quiet tech superstar. The service behind some of the biggest names in social network-powered shopping (like Kylie Jenner), Shopify's stock price is up 176% this year and its $42 billion market cap has surpassed those of much more famous e-commerce peers eBay, Square, Wayfair, and Pinterest. Tim Bradshaw of the Financial Times talked to Shopify CEO Tobi Lütke about what's fed the Ottawa-based company's success.

“There was no ‘powered by Shopify’ anywhere,” said Mr Lütke, who started what would become Shopify in 2004 as a side-project of his online snowboard store. “We built a brand behind other people's brands.” 

Shopify’s absence from the Silicon Valley spotlight has been by design. Germany-born Mr Lütke has long resisted the San Francisco Bay Area’s gravitational pull, calling the costly fight for talent and property there “one of the most pure examples of groupthink gone wrong”. “I’m flabbergasted why anyone would ever consider starting a company in that area at this point,” he said.

IN CASE YOU MISSED IT

Google and Dell Technologies’ New Chromebook Is Designed for Business Users By Jonathan Vanian

No Humans Needed: Chinese Company Uses AI to Read the News, Books By Alyssa Newcomb

Riot Games Settles Sex Harassment, Discrimination Lawsuit By Lisa Marie Segarra

Mastercard CEO: How to Make the Digital Economy Work for Everyone By Ajay Banga

Relocating for a Job? 5 Things to Consider By Anne Fisher

VMware Is Betting Data Center Technology’s Future Involves Google-Created Software By Jonathan Vanian

Show Swapping Is TV’s New Star By Radhika Marya

BEFORE YOU GO

Star architect Frank Lloyd Wright designed some of the most iconic structures of the 20th Century. I didn't realize quite how many, however. Photographer Andrew Pielage is trying to photograph every still-standing Wright building. How many is that? 431. As of this month, Pielage has only captured 68, he tells Fortune. Better get busy.

This edition of Data Sheet was curated by Aaron Pressman. Find past issues, and sign up for other Fortune newsletters.

About the Authors
By Aaron Pressman
See full bioRight Arrow Button Icon
By Adam Lashinsky
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersCEO Daily
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
5 hours ago
Microsoft CEO Satya Nadella on April 23, 2026 in Sydney, Australia. (Photo: George Chan/Getty Images)
NewslettersFortune Tech
Microsoft may cut thousands more jobs in a bid to control costs
By Andrew NuscaJuly 1, 2026
5 hours ago
Image of colored bar charts with one being pushed up.
NewslettersEye on AI
AI is minting billion-dollar companies faster than before
By Beatrice NolanJune 30, 2026
21 hours ago
Meet the only Black woman chair of the board in the Fortune 500
NewslettersMPW Daily
Meet the only Black woman chair of the board in the Fortune 500
By Emma HinchliffeJune 30, 2026
23 hours ago
The VCs betting founders need a village, not a blank check
NewslettersTerm Sheet
The VCs betting founders need a village, not a blank check
By Allie GarfinkleJune 30, 2026
1 day ago
Gulf bond markets extend their rally despite uncertain outlook
NewslettersFortune Gulf Brief
Gulf bond markets extend their rally despite uncertain outlook
By Melissa HancockJune 30, 2026
1 day ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.