Jan 5, 2017

Awkward: Uber backer invests in their direct competitor

Jeff Chiu / AP

Didi Chuxing, the largest ride-hailing company in China, is leading a $100 million round in 99, a Brazilian taxi-hailing service—and a direct competitor with Uber's operation in Brazil. Didi Chuxing is also getting a seat on 99's board.

The rub: This could get awkward as Didi Chuxing is an investor in Uber, and vice versa. By investing in 99, Didi is effectively backing a company directly competing with its own investment, Uber.

Why it matters: This isn't the first time Didi's new relationship with Uber is complicating things. Didi was already an investor in and strategic partner of Lyft, Uber's main rival in the U.S., as well as an investor in Uber's main local competitors in India and Southeast Asia.

Didi says it wants to "play a global game" but Uber already operates nearly everywhere around the world. It will be nearly impossible for Didi not to compete directly or indirectly with Uber outside its home country. And that can create some problematic conflicts of interest.

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Kyle Daly, Ashley Gold, Sara Fischer

1 hour ago - Technology

Apple's antitrust fight turns Epic

Illustration: Aïda Amer/Axios

Millions of angry gamers may soon join the chorus of voices calling for an antitrust crackdown on Apple, as the iPhone giant faces a new lawsuit and PR blitz from Epic Games, maker of mega-hit Fortnite.

Why it matters: Apple is one of several Big Tech firms accused of violating the spirit, if not the letter, of antitrust law. A high-profile lawsuit could become a roadmap for either building a case against tech titans under existing antitrust laws or writing new ones better suited to the digital economy.

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Courtenay Brown

2 hours ago - Economy & Business

Survey: Fears grow about Social Security’s future

Data: AARP survey of 1,441 U.S. adults conducted July 14–27, 2020 a ±3.4% margin of error at the 95% confidence level; Chart: Naema Ahmed/Axios

Younger Americans are increasingly concerned that Social Security won't be enough to wholly fall back on once they retire, according to a survey conducted by AARP — in honor of today's 85th anniversary of the program — given first to Axios.

Why it matters: Young people's concerns about financial insecurity once they're on a restricted income are rising — and that generation is worried the program, which currently pays out to 65 million beneficiaries, won't be enough to sustain them.

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Margaret Talev

2 hours ago - Politics & Policy

Axios-SurveyMonkey poll: Doubts over fair election results

SurveyMonkey poll of 2,847 U.S. adults conducted Aug. 11–12, 2020 with ±3% margin of error; Chart: Naema Ahmed/Axios

One in four Americans is worried their ballot won't be accurately counted this year, and four in 10 worry mail-in voting could yield less reliable results, according to a new Axios-SurveyMonkey poll.

The big picture: Partisan identification is a massive driver of distrust in both categories — and the stakes are huge this year.