Google CEO Sundar Pichai announced Friday that his company is donating more than $800 million in cash and advertising to help stem the spread of the novel coronavirus and ease the impact on small businesses.
Why it matters: It would appear to be the largest donation yet from a tech giant. The ad credits also could help keep business flowing through Google's ad system amid what is expected to be a sharp downturn in advertising.
Now that the coronavirus seems to be under control in China while it spreads elsewhere, China has announced a fresh ban on foreigners coming into the country — a move that could further complicate life for U.S. tech firms that rely on that country for manufacturing.
Why it matters: Many companies — notably Apple, but also Google, Facebook, Fitbit, GoPro and others — design their hardware in the U.S. but manufacture it in China. Typically, new products require close collaboration between U.S. firms and their Chinese manufacturing partners.
For the last couple of years, startups have been preparing for a recession, but the coronavirus pandemic and its effect on the economy are unlike anything they predicted.
Why it matters: Even companies that had recession plans and have been modeling burn rates, cash flow, and dips in business are throwing those projections out the window and taking drastic measures.
Tech giants like Google, Facebook and others are expected to lose billions of advertising dollars this year thanks to economic disruptions caused by the coronavirus pandemic, analysts say.
Why it matters: The losses aren't expected to cripple these companies, but they will put a dent in the otherwise unprecedented growth that several have experienced for the past few years.
Yelp told Axios on Thursday that it is pausing a program designed to raise money for restaurants and small businesses after some owners complained they were signed up without consent and opting out of the program was overly cumbersome.
Why it matters: Small businesses, which make up the bulk of Yelp's market, have been devastated by the novel coronavirus and related stay-at-home orders.Yelp earlier this week said it was partnering with GoFundMe to make it easy for customers to donate straight from Yelp.
Children's privacy advocates on Thursday cited the coronavirus pandemic to urge the Federal Trade Commission to force companies like Google and Disney to turn over details on how they gather and use data to target kids.
The big picture: The groups argue that with more children at home streaming video and relying on online learning, it's vital the agency understands digital media's and ed tech companies' collection and use of data.
After a New York Times tweet on Wednesday suggested that those working from home leave their kids and pets out of work video conferences, Twitter erupted with rebukes.
Why it matters: Most of corporate America is adjusting to working from home right now, with many workers also managing kids who are home from school.
Nintendo's Animal Crossing: New Horizons, released in the U.S. last week, has quickly emerged as a runaway hit pastime for a population trapped in their homes.
The big picture: Success in the video game industry often requires not only a great story and gameplay, but perfect timing. Nintendo's cartoonish simulation game, which allows players to create their own island getaways, appears to have pulled off all three.
Why it matters: Some startups are facing layoffs and shutdowns, and millions of gig economy workers and Airbnb hosts are being strained by the sudden shift in consumer behavior.