Daily Tech Snippet: Monday, January 30
- Silicon Valley’s Ambivalence Toward Trump Turns to Anger: Mr. Trump’s executive order late on Friday temporarily blocked all refugees while also denying entry to citizens of Iran, Iraq and five other predominantly Muslim countries. The directives struck at the heart of Silicon Valley’s cherished values, its fabled history and, not least, its embrace-the-world approach to customers. Two worldviews collided: the mantra of globalization that underpins the advance of technology and the nationalistic agenda of the new administration. In response, a significant part of the tech community went to the barricades. Netflix’s chief executive, Reed Hastings, wrote on Facebook that Mr. Trump’s actions “are so un-American it pains us all” and that “it is time to link arms together to protect American values of freedom and opportunity.” Brian Chesky, the chief executive of Airbnb, made the same point. “We must stand with those who are affected,” he wrote on Twitter. Sergey Brin, a Google founder who immigrated from the Soviet Union when he was 6, seemed to take that suggestion literally, attending an impromptu protest on Saturday evening at San Francisco International Airport. When some of the demonstrators realized that the 10th-richest man in America was with them, they asked for selfies. He good-naturedly obliged.
- Just Dial Q3 profit rises 6%, revenue grows 8.5%: Online local business search engine Just Dial Ltd recorded a 6% rise in net profit for the quarter ended 31 December 2016, weighed down by higher costs. The company posted a profit of Rs 27.4 crore for the third quarter compared with Rs 25.9 crore a year earlier, it said in its earnings statement. Net profit, however, was lower than the Rs 29.62 crore the company had recorded for the quarter ended September. Operating revenue for the third quarter grew 8.5% to Rs 180.27 crore from Rs 166.2 crore a year earlier. Total expenses climbed to Rs 165.2 crore from Rs 142.65 crore. Just Dial, founded by Mani, is one of the few digital businesses to get listed on stock exchanges; it floated its initial public offering three years ago. Its stock price peaked at Rs 1,800 two years ago but has slumped since then. It now has a market cap of Rs 2,581 crore.
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