November 1, 2016 / Fortune Asia / Volume 174 / Number 6

SECTION

FEATURES

The Red Tape Conundrum
by BRIAN O’KEEFE
How the wrong kind of regulation is strangling business-and what to do about it. Fortune takes a deep dive.
PAGE NO. 24

Steve Cohen Has Nothing to Prove
by JEN WIECZNER
But he’s going to prove it anyway. In 2013 an insider-trading scandal ended his reign as one of Wall Street’s top hedge fund managers. Today he’s unapologetic and on the verge of returning to the industry, to his critics’ dismay.
38

THE 21ST-CENTURY CORPORATION
The Great Rocket Race
by CLAY DILLOW
Elon Musk’s SpaceX is jousting with a Boeing-Lockheed joint venture for the lucrative business of sending satellites into space. The incumbent faces a daunting two-pronged challenge: Can it slash prices while overhauling a key part of its technology?
46

The PGA Tour Takes on China
by SCOTT CENDROWSKI
Canceled tournaments, bad luck, and so much promise: inside the golf industry’s star-crossed struggle to get Chinese consumers to hit the links.
PAGE NO. 54

How Steve Jobs Became a Billionaire
by LAWRENCE LEVY
Though Jobs’ name is forever tied to Apple, it’s easy to forget that it was Pixar that made him his first billion. In this excerpt from To Pixar and Beyond, we learn more from the man whom Jobs hired as CFO, with the mission to take the scrappy company public.
60

DEPARTMENTS

BRIEFING

9 CLOSER LOOK
Most Americans don’t actually hate trade, business, or globalization. But this campaign season’s tide of populist outrage will last long past November.
By TORY NEWMYER

12 CANADA’S BRAIN GAIN STRATEGY
The U.S. should refashion its immigration laws to look like its northern neighbor’s.
By CHRIS MATTHEWS

13 THE RISE OF THE AILMENT SHOPPER
Beset by health problems, consumers are turning to food as treatment-and spending billions.
By BETH KOWITT

14 WIND ENERGY IS REALLY CHEAP
The first offshore wind farm in the U.S. marks a turning point for the industry.
By KATIE FEHRENBACHER

16 EXECUTIVE READ
Three major releases this fall will help you elevate your thinking, motivation, and creativity in work and in life.

FOCUS

TECH

17 PERSON OF INTEREST
Meet Toni Reid, director of product for Amazon’s Echo devices and Alexa unit.
By LEENA RAO

19 A BOOM WITH A VIEW
Consumer packaged-goods startups are styling themselves like tech companies to fuel growth. They don’t need to.
By ERIN GRIFFITH

20 WATSON: NOT SO ELEMENTARY
A Q&A with David Kenny, general manager of IBM’s cognitive computing system.

Interview by CLIFTON LEAF

EDITOR’S DESK

FOREWORD

6 HOPE FOR THE DAY AFTER
The cloudy political outlook reinforces the need for business leaders to take a larger role in addressing the issues that face our society.
By ALAN MURRAY

PASSIONS

22 10-HOUR LAYOVER? LUCKY YOU
How Icelandair made waiting for connecting flights a thing of beauty.
By ANNE VANDERMEY

BACK PAGE

LAST BYTE

68 TRADING WITH AMERICA
Charting U.S. imports and exports.
Text by TORY NEWMYER; graphic by NICOLAS RAPP

CORRECTION

In ”The Deep-Learning Revolution” (Oct. 1), we incorrectly wrote that Geoffrey Hinton was invited to Microsoft in 2009 by research cohead Peter Lee. In fact, Hinton was invited by Microsoft principal researcher Li Deng, whose group then experimented with neural nets for speech recognition. Lee did not join the company until 2010. Fortune regrets the error.

ON THE COVER: PHOTOGRAPH BY THE VOORHES

[IMAGES]

KENNY: WINNI WINTERMEYER

ｩ Time Inc.