The bottom line
▪ China’s tech startups, which once lagged those from Silicon Valley, are catching up. Of the 41 private companies worldwide that reached “unicorn” status in 2017— meaning they were valued at $1 billion or more—15 were Chinese and 17 were American.
The New Yorker
▪ Apple CEO Tim Cook was paid nearly $102 million in 2017 after collecting a huge bonus of company shares based on the iPhone maker’s stock market performance. Cook was paid a salary of $3.06 million, a cash bonus of $9.3 million (up from $5.4 million in 2016), and share bonuses worth $89 million.
▪ Global sales of passenger cars and trucks surpassed 90 million for the first time ever in 2017, suggesting that conventional automobiles remain attractive even as driverless cars and ride sharing get more attention. Chinese drivers purchased more than a quarter of all vehicles globally, up from less than 15 percent a decade ago.
The Wall Street Journal
▪ Amazon shipped 5 billion items to its Prime customers last year. Although the company declined to say how many Prime members it has, it said more consumers paid for Prime benefits in 2017 than in any prior year.
▪ About 82 percent of U.S. homes have broadband internet, up from 76 percent in 2012. The number of broadband homes—94.5 million— has eclipsed the number with traditional pay-TV subscriptions (92.2 million).