Four years ago this past summer my family and I decided to move to New York, and as I prepared, I called my best friend in Manhattan, the journalist John Heilemann. If anyone could present me with the key to our new city, it was John – he was connected to everything and everyone worth knowing in New York.
But much to my surprise John had something different in mind when I rang to pick his brain. In short, he had an idea for a new kind of company, one he’d been bouncing off of our mutual friend Fred Wilson. John wanted to totally rethink video-based news for what we came to call the “post-linear” information ecosystem – in other words, for a world dominated by Twitter, TikTok, Instagram, and of course the emerging world of streaming.
Mark Zuckerberg is in a crisis of leadership. Will he grasp its opportunity?
It seems like an eternity, but about one year ago this Fall, Uber had kicked its iconic founding CEO to the curb, and he responded by attempting a board room coup. Meanwhile, Facebook was at least a year into crisis mode, clumsily dealing with a spreading contagion that culminated in a Yom Kippur apology from CEO Mark Zuckerberg. “For those I hurt this year, I ask forgiveness and I will try to be better,” he posted. “For the ways my work was used to divide people rather than bring us together, I ask for forgiveness and I will work to do better.”
More than one year after that work reputedly began, what lesson from Facebook’s still rolling catastrophe? I think it’s pretty clear: Mark Zuckerberg needs to do a lot more than publish blog posts someone else has written for him.
Well, Walmart vs. Amazon is all about big business – a platform giant (Amazon) disrupting an OldBigCo (Walmart and its kin). Over the past two decades, Amazon bumped Walmart out of the race to a trillion-dollar market cap, and the OldCo from Bentonville had to reset and play the role of the upstart. The Token Act levels the playing field, forcing both to win where it really matters: In service to the customer.
Now that the other shoe has dropped, and Uber’s CEO has been (somewhat) restrained, it’s time for the schadenfreude. Given Uber’s remarkable string of screwups and controversies, it’s cominginthick, in particular from the East coast. And while I believe Uber deserves the scrutiny — there are certainly critical lessons to be learned — the hot takes from many media outlets are starting to get lazy.
Here’s why. Uber does not reflect the entirety of the Valley, particularly when it comes to how companies are run. As I wrote in The Myth of the Valley Douchebag, there are far more companies here run by decent, earnest, well meaning people than there are Ubers. But of course, the Ubers get most of the attention, because they confirm an easy bias that all of tech is off the rails, and deserves to be taken down a notch.
The ever-present debate around whether Silicon Valley will retain its crown as the most important tech hub got fresh fuel this past week, first from a piece by Adam Lashinsky (yes, it will), and then from a Financial Times report (sub. required) seemingly refuting his conclusion (no, New York wins!).
The research behind the FT report claims the most entrepreneurial cities in the US are, in order, New York, Boston, Providence, and then San Francisco. The FT headline – “How New York stole Silicon Valley’s crown” – leads one to believe that somehow the research was comparing Apples to Big Apples. Of course, it was doing nothing of the sort. In truth, the FT‘s uncharacteristic clickbait compared Salesforces to sandwich shops.