When tech's overlords can't protect themselves from their own creations, we're all in trouble
Welcome to this week's edition of Trending, the newsletter where we highlight BI Prime's biggest tech stories. I'm Alexei Oreskovic, Business Insider's West Coast bureau chief and global tech editor.
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This week: When tech's overlords can't keep safe, what hope is there for the rest of us?
The captains of the tech industry are rubbing shoulders with world leaders and other grandees in Davos, Switzerland this week. But the usual business of schmoozing among guests is very likely tinged with a dash of paranoia, what with all the talk in the air of Russian spy-plumbers and hacking from the House of Saud. If you're an up-and-coming exec at Davos, swapping WhatsApp messages with the friendly potentate you sat next to at breakfast is no longer the obvious stroke of good fortune it once seemed.
And with Jeff Bezos' infected phone now Patient Zero in a scary new strain of cyber-trickery, it's easy to imagine other Davos habitués nervously re-tracing all their past interactions for potential exposure.
It's an ironic twist for an event in which privacy and trust in the digital age are at the top of the agenda. The reality is that the so-called Fourth Industrial Revolution - be it due to insufficient regulations, ignoble incentives or a mix of other factors - is such a chaotic free-for-all right now that even the people leading it don't know how to stay safe anymore.
To the extent that tech execs are willing to publicly acknowledge this untenable state of affairs, we hear a lot of pleas for government oversight (see Google CEO Sundar Pichai's recent call for AI regulations), government leniency (see Facebook's argument that it must be left alone lest China take over), and sundry self-serving press releases.
At a private party at Davos on Wednesday, Sheryl Sandberg affirmed that technology has thrust us into a "clearly new and much more complicated age." Between comments about how Facebook is "democratizing access for small businesses," Sandberg announced a new "privacy checkup" tool for the social network's 2 billion users. That's a nice step but somehow I don't think this check-up tool would have detected the germ that spread through Facebook's WhatsApp and leaked Jeff Bezos's intimate selfies.
Meet the startup class of 2020
Each year Business Insider Chief Tech Correspondent Julie Bort polls the insiders of the venture capital world to get their thoughts on startups, particularly which startups are on a trajectory to take off in the coming year.
Obviously VCs love to talk their book. So Julie lets them cite one of their portfolio companies - after all, they wouldn't be backing a company they didn't believe in. But each VC must also name one startup in which they have no financial stake or any other interest.
The result is a fascinating list of startups working on everything from robotics to AI-powered IT to smart mattresses (no, not IPO-bound Casper).
Whether you're an engineer searching for the next hot startup to join or an industry insider trying to get a feel for the lastest trends, these 72 startups provide a good snapshot of what Silicon Valley is bullish on right now.
Read Julie's full story here:
72 startups that will boom in 2020, according to VCs
Inside the Brex A-Team
Brex has emerged as one of the past year's big success stories. The San Francisco company, founded by two Brazilian entrepreneurs, took the simple idea of providing a credit for other startups and turned it into an organization with hundreds of employees, valued at $2.6 billion. Brex, which even has its own restaurant in San Francisco's South Park neighborhood, has expanded its menu of financial products in a quest to offer an alternative to traditional banks.
Megan Hernbroth and Melia Russell mapped out the top execs leading the charge at Brex. These are the dealmakers and product managers responsible for new products like Brex Cash. If Brex succeeds in its ambitious mission, these are the folks that will make it happen.
Read the full story here:
Meet the 13 power players of fintech unicorn Brex as it tries to unseat traditional banks and credit card companies in 2020
Here are some of the latest tech highlights:
eBay lays off at least 200 employees as restructuring continues under interim CEO
And more good reads from across the BI newsroom:
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- Alexei