Wall Street Journal

Social-media usage is blowing up, but will it crash when real-life invitations start flooding back in?

Google’s parent abandoned plans to develop a “smart city” in a Toronto neighborhood, a controversial project that once embodied the tech giant’s futuristic ambitions. The move is the highest-profile example yet of retrenchment by Alphabet under new Chief Executive Sundar Pichai. The Toronto project, under Alphabet arm Sidewalk Labs, was a favorite of Google co-founder Larry Page, who held the CEO role until December. Sidewalk Labs cited economic uncertainty and pressure on the local real-estate market in the wake of the coronavirus pandemic.

Relations between the US and China, strained for years, have deteriorated at a rapid clip in recent months, leaving the two nations with fewer shared interests and a growing list of conflicts. The Trump administration has moved to involve much of the US government in a campaign that includes investigations, prosecutions and export restrictions.

Business closures and stay-at-home orders have hit the real-estate sector hard. But an obscure corner of the industry is benefiting from people staying at home. Fiber-optic cables are drawing a growing interest from investors. These cables, which transmit data through light and are a crucial component of high-speed internet, aren’t technically real estate.

Every day, tens of millions of Americans rely on the Global Positioning System. A recent decision by the Federal Communications Commission, however, will degrade the effectiveness and reliability of this critical technology. On April 20, the FCC announced its approval of Ligado Networks’ application to create a cellular network by repurposing a portion of radio spectrum adjacent to that used by GPS. The power and proximity of Ligado’s ground emissions on this spectrum will drown out GPS’s space-based signals.