📈 Diverse VCs make more money according to the data, say Paul Gompers and Silpa Kovvali. “VC firms that increased their proportion of female partner hires by 10% saw, on average, a 1.5% spike in overall fund returns each year and had 9.7% more profitable exits”.
🔗 Tim Berners-Lee is “devastated” by how the world-wide-web has evolved, dominated by a few corporations. His new project? To re-decentralize the web and “give people privacy and [...] control of their data”. (See also, The Economist asks "what if people were paid for their data?" Good question to ask but a complicated issue because their are many cases where our data can form part of a public good, and be more valuable for that than by private exploitation by us or an intermediary, like Facebook.)
The value of cities: According to the Brookings Institute, the 300 largest metros in the world accounted for 36% of global employment growth and 67% of GDP growth between 2014-2016, but only 21.9% of population growth. Not only are they the engine of growth, but of disproportionate growth [...] many large cities are pulling away from their surrounding areas.” (Full PDF here.) Reminder, in many recent votes in Turkey, Austria, the US and the UK, there has been a stark division between rural voters (supporting populists) and urban voters.
Cities are becoming increasingly important in policy-making, not least because they are attracting the economic growth described above. This economic growth is being driven and attracting innovation earlier. And so cities are also bumping up against regulatory tensions and other second-order effects of new technologies with regularity.
I love Citymapper: what an innovative firm. They’re updating their multimodal city-navigation app to support many different bike sharing networks, coining the term “floating transport” where “users will drive operators.”
A massive thank you to all of you who connected with me to help me with the China question. I’m still wading through the replies that I got, and I promise to be in touch in the next few weeks.
On Tuesday evening, I am speaking in a debate called Good Work in the Machine Ageat the Royal Society of Arts in London. The event will be streamed, so so tune in if it appeals. It will finish before the France-Belgium semi-final starts, I am assured.