Bonjour, Viva Technologists!
It’s day deux of the expo, the last reserved for “professionals.” On the third and final day of the conference, organizers open the doors to the general public. If you thought the Porte de Versailles was crowded before, think again.
The sun will be scarce today, and there might be rain in the afternoon, but if you’re mostly wandering around the expo center it won’t really matter, will it? Expect a high of 19°C (66°F).
What to watch for today
Playing by the rules. Margrethe Vestager speaks about “Innovation in Europe—Making it Happen.” The European competition commissioner will appear on the main stage, a short stroll from the sprawling conference booth(s) run by Google, which her directorate recently slapped with a $1.7 billion fine for alleged unfair practices in the online advertising market. (Awkward.)
Presidential walkabout. Paul Kagame of Rwanda and Macky Sall of Senegal have a fireside interview on Stage One. Afterwards, they plan to take a stroll through the show floor, likely perusing their respective countries’ stands in the Africa Tech section. While nothing has been announced yet, expect signings of tech-related deals and partnerships.
How to raise a unicorn. Israeli execs will reveal the secrets of the country’s entrepreneurship factory in a panel modestly dubbed “Israel’s Miracle Machine.” The CEO of London’s controversial fintech firm Revolut, among other startup types, will discuss “Building Unicorns Outside Silicon Valley.” Roxanne Varza of Paris mega-incubator Station F will discuss “Diversifying Entrepreneurship” alongside fellow entrepreneurship gurus.
Best of the rest. Michael Gronager, CEO of Chainalysis, a blockchain company that actually makes money, will speak on a panel about “Are Cryptos Worth the Hype?” (Bitcoin, incidentally, has more than doubled in price so far this year.) On the main stage, Garry Kasparov, chess grandmaster and Russian opposition politician, asks, “Can AI Be Evil?” And if you wanted to know whether things inside Reddit, the company, are as lively as they are on Reddit, the website, the company’s vice president of people is on a panel about “How to Build a Strong Company Culture.”
Party planner. If you can blag your way onto the yacht “Le Diamant Bleu,” you’ll spend the evening cruising up and down the Seine with France’s minister for the digital economy, Cédric O. Lucky you!
What everyone is talking about
The third way. French president Emmanuel Macron, and his considerable entourage, snarled up an already crowded expo center during his morning walkabout yesterday. When he got on stage at the Dôme de Paris, he pitched his vision for a tech sector that is innovative and competitive, but also “democratic and driven by the common good.” This is shorthand for stricter regulations on data privacy and antitrust issues, contrary to the US model that’s “completely steered by big private sector players,” as Macron put it, and China’s top-down, state-run alternative.
Speaking of China, directly after Macron held court, Alibaba founder Jack Ma took the stage and offered a starkly different worldview. Chinese companies “solve the problems, then think about rules and laws.” By contrast, angsty Europeans think first of rules and laws, he said. “I worry about the worries of Europe,” he added.
This may go down well with some laissez faire-minded tech execs, but is out of step with the tilt towards populist, protectionist attitudes in large pockets of Europe. (It is also somewhat out of step with the reality in China.) Ma’s message—“what are they worried about?”—may have landed better in Palo Alto than Paris.
More highlights from yesterday
The day in Huawei. On the main stage, Huawei chairman Ken Hu predictably didn’t mention Donald Trump’s latest shot at the company, which will restrict its access to US technology and, potentially, its ability to do business at all. He instead mentioned the telecom giant’s (ahem) five R&D centers in France, and its plans to spend nearly $40 million in Paris alone. For his part, Macron said yesterday that France has no intentions of blocking Huawei.
Tapping into African tech. Vivatech has made itself a key stop for anyone who’s serious about investment opportunities in African tech, tapping into Francophone Africa’s budding digital scene. African startups accounted for less than 0.5% of the most conservative estimate of global venture funding last year. More than 75% of those investments were concentrated in Kenya, Nigeria, and South Africa—Francophone African startups have barely made a dent. The country stands from Algeria, DR Congo, Morocco, and Senegal (among others) are optimistic about changing that, and you won’t meet many founders as eager to tell their stories in all of the expo center.
Chart interlude
Executives and opinion leaders think Shanghai is about as likely as San Francisco to spawn the next global tech giant, according to a new survey by EY. They also put 9 other cities ahead of Paris, including Berlin, London, and Mumbai.
Seen and heard
“We can be late to that meeting.”—conversation between a US government advisor and a colleague, adopting the “America First” approach to scheduling.
“You treat your startup as your baby… and of course you don’t want to hear that your baby is ugly.”—Eriko Suzuki, general partner at Fresco Capital.
If you think some elements of French culture are impervious to change, check out the delicious vegan foie gras by Jay & Joy at the LVMH stand, made with cashews (somehow).
“We’ve got some dancers who are gonna do some crazy stuff on stage now, if you want to stay and chill for five minutes.”—emcee on the main stage, during set changes.
The future is wiggly:
News from around the world
I.M. Pei died at 102. The Chinese-born architect, whose most famous works include the pyramid at the Louvre, Hong Kong’s Bank of China building, and Doha’s Museum of Islamic Art, passed away at his home in New York.
China’s answer to Starbucks priced its IPO. Beijing-based Luckin Coffee raised $561 million after pricing its shares at $17, the top end of an indicative price range. It begins trading on the Nasdaq today.
Donald Trump announced a broad new immigration plan. Few practical details were revealed about the proposal, which would focus on clearing immigration for highly skilled and educated workers, but restrict it for extended families. Congress members and immigration experts give the idea little chance of passing.
Matters of debate
India needs to start talking to boys about sex. Many Indian men don’t understand what consent means or that it needs to be sought.
“Angry Birds” marked the beginning of the end of privacy. The free mobile game made people comfortable with giving away their information online.
Creativity isn’t necessarily what drives innovation. Companies function best when they employ lots of conscientious people.
Surprising discoveries
A $91 million giant steel rabbit broke art-world records. The Jeff Koons sculpture is now the most expensive artwork by a living artist.
Americans in Austria can get passport help at McDonald’s. The fast-food chain has agreed to provide a 24-hour hotline to the US embassy.
Timor-Leste wants to be the world’s first “plastic-neutral” country. It is securing funding for a new chemical recycling plant that breaks down plastic waste and allows it to be used again.
Our best wishes for an inspiring day. Please send any news, tips, antitrust probes, and the best boulangeries in the 15th arrondissement to us, Jason and John. Special thanks to Yinka Adegoke, Quartz Africa editor, for additional reporting. The best way to keep up with the news while you’re on the go is the Quartz app for iPhone and Android.