August 1, 2017 / Fortune Asia / Volume 176 / Number 2 / THE GLOBAL 500

FEATURES

#DefeatUber
By MICHAL LEV-RAM
Scandals at Uber have given Lyft a chance to catch up in the ride-sharing race. Could a bold bet on driverless cars help the smaller startup take the lead?
PAGE NO. 32

500

THE FORTUNE GLOBAL 500

Globalization Bites Back
By JEFF JOHN ROBERTS
U.S. tech companies have soared to the top ranks of the Fortune Global 500 in recent years, but could foreign regulators put an end to a great growth story?
PAGE NO. 57

You’ve Never Heard of HNA Group
By VIVIENNE WALT
Here’s why you will. The $53 billion Chinese conglomerate already owns a company near you.
60

India’s Marathon Man
By CLAY CHANDLER
Can a distance-running fanatic whip Tata, India’s biggest and most complicated company, into better shape?
68

F1 The List
The world’s 500 largest corporations.
F11 Winners and Losers
F12 Notes
F13 How the Companies Stack Up
F15 Ranked Within Countries
F21 Index
77

DEPARTMENTS

FOREWORD
6 Ideas Know No Borders
The worldwide spread of innovation is inevitable, as our Global 500 list shows.
By CLIFTON LEAF

BRIEFING
9 Digital Currency Gets Its Biggest Test Yet
Advocates say it could change the way we use money and fund companies. Critics see a bubble. This year, we may find out who’s right.
By ROBERT HACKETT

12 Setting Big Hairy Goals-and Missing
Even successful CEOs succumb to the temptation of shooting for unreachable targets.
By PHIL WAHBA

13 It’s Time to Worry About Italian Debt
Italy’s gargantuanbankbailout raisesthestakesforanoverburdened state.
By GEOFFREY SMITH

14 As Oceans Rise, Insurers Flee
Natural disasters, increasingly common, are causing economic ones too.
By BETH KOWITT

15 First the Cold War, Now the Flame War
With GIFs, hashtags, and snark, @Ukraine brings the heat to the Internet.
By LINDA KINSTLER

16 The 10 Best Workplaces for Millennials
Here’s where the largest generation in the workforce is finding career bliss.
By CHRISTINA AUSTIN

FOCUS

INVEST
17 Where Bulls Are China-Shopping
Hundreds of domestic Chinese stocks are becoming more accessible to U.S. investors. But which ones can weather a potential slowdown?
By LUCINDA SHEN

TECH
19 Facebook’s Secret Weapon
One of the social network’s longest-serving employees leads the charge in signing up the next billion users.
By VALENTINA ZARYA

22 Just Call It Silicon Coast
Startups and Fortune 500 companies alike are rapidly setting up offices with skilled employees just across the border in Vancouver.
By CLAY DILLOW

VENTURE
26 Data Won’t Make You Fit
But that doesn’t mean the dream of the ”quantified self” is over.
By LAURA ENTIS

28 Learning Not to Lead
Foursquare’s Dennis Crowley recounts the moment he realized he was no longer the right person to lead the company he cofounded.
As told to POLINA MARINOVA

PASSIONS

29 A Sanctuary From Terror
Paris’s luxury tourism industry is rebounding after years of disruption from terrorism, fractious politics, and increased competition.
By LINDSEY TRAMUTA

FORUM
31 A Blind Eye to the Truth
Unconditional support contributed to Silicon Valley’s success-and some of its worst missteps.
By ERIN GRIFFITH

BACK PAGE

LAST BYTE
104 Cities of Gold
The rich are getting richer-especially in the U.S.: mapping the nation’s millionaire households.
Text by BRIAN O’KEEFE; graphics by NICOLAS RAPP

CORRECTIONS
”Tesla Makes a U-Turn in China” (June 15) incorrectly reported that Studebaker had entered bankruptcy in the 1960s; it also misidentified the date that Studebaker produced its last U.S.-made car. Fortune regrets the errors.

ON THE COVER: ILLUSTRATION BY MUOKKAA STUDIO

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