Mobile News - Week of August 9, 2021





Issue #150 — View online — Suggest a link

The latest news and information about startups and innovations from the mobile world.

Many of you know that I am originally from Hong Kong. Despite all the social unrest, eight Hong Kong companies have now crossed the $1 billion valuation unicorns status.
Collectively, they’ve raised over $5.46 billion in sectors ranging from crypto to logistics. Home to 96 billionaires, Hong Kong has no shortage of funding. Unfortunately, most of the investors come from traditional industries and often invest in startups the wrong way. So I did this talk titled Startup Investing 101 for Angels with FoundersHK.
US employers added 943,000 jobs in July, marking the best monthly performance since August 2020, and the unemployment rate ticked down to 5.4% compared to over 14% in April 2020. The highest rate of U.S. unemployment was 24.9% in 1933, during the Great Depression. 
My favorite writer Matt Levine and my favorite portfolio founder Sam Bankman-Fried (founder of FTX) got together and did a podcast on crypto exchanges and market structure and Tether. Check it out.
We started a new job board for all of our portfolio companies at Race Capital.  Check it out
Here are the top mobile news this week >
  • Statistics - TikTok is the World’s Most Downloaded App
  • Statistics - Xiaomi #1 Largest Smartphone Brand
  • Shein - Chinese fast fashion American Teens Love 
  • White House - App Store Competition Bipartisan Senate Bill 
  • The rise of Sendit - 3.5M downloads in 80 days
  • Tencent - Resumes WeChat Signups
  • Intel - TSMC Wannabe
  • Twitter - Amazon Wannabe
  • Africa - Huawei and Kunlun drive Africa’s fintech revolution

TikTok overtakes Facebook as world's most downloaded app - Nikkei Asia
Xiaomi Becomes #1 Smartphone Brand Globally for First Time Ever
How Shein Became the Chinese Apparel Maker American Teens Love
App Store Competition Targeted by Bipartisan Senate Bill
Sendit gains 3.5M downloads after Snapchat suspends top anonymous apps YOLO and LMK
Tencent Resumes WeChat Signups As Gaming Concerns Persist
Intel to build Qualcomm chips, aims to catch foundry rivals by 2025
Twitter Shopping: Testing the Shop Module
Huawei, Kunlun and China’s tech giants drive a quiet revolution in Africa’s fintech with mobile payment apps and wallets
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