The Inflation Reduction Act, which President Joe Biden signed into law Tuesday, says that if automakers want their electric vehicles to be eligible for tax credits, they’ll need to have final assembly in North America. The law, which takes effect immediately, ends credits for about 70% of the 72...
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QuotaBook, a Seoul-based equity management platform, has raised $11 million in funding led by Elefund, with participation from Access Ventures, Hana Securities and South Korean fintech company Viva Republica. Some of its previous backers, including Draper Associates and Capstone Partners, joined...
American Airlines will buy up to 20 jets from Boom Supersonic, an aircraft maker that aims to commercialize supersonic, and super-fast, flight. Boom’s Overture four-engine jets promise speeds of up to Mach 1.7 over water, which is twice the speed of today’s fastest commercial aircraft —...
If you’ve used a smart voice assistant such as Alexa, Siri and whatever-Google’s-smart-assistant-is-called, you’ll probably have noticed that the tech is getting smarter every day. Google can wait on hold for you, Siri can speak in a gender-neutral voice and Alexa can read you bedtime...
From ‘literally zero’ experience to $100M, this VC is raising his second climate tech seed fund
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If you ask me, climate tech investor Contrarian Ventures isn’t so contrarian anymore. The five-year-old firm is targeting $100 million for its second seed-stage fund, and it’s doing so smack in the middle of a climate-tech dealmaking boom. So, if anything, it’s trendy. But when the...
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SAIC Mobility Robotaxi, an arm of state-owned Chinese automaker SAIC aiming to launch a commercial robotaxi service, raised $148 million (RMB 1 billion). The funds will be used to scale its robotaxi service in China, which it will operate in partnership with autonomous vehicle company...
It was the fundraise heard around Twitter. Adam Neumann, the infamous entrepreneur behind WeWork, raised a stunning $350 million from Andreessen Horowitz for a yet-to-launch real estate company called Flow. The investment gave Neumann’s latest venture a more than $1 billion valuation, as...
Meta loosely outlined how it plans to brace its platforms for the upcoming U.S. midterm elections Tuesday, starting with political ads. In November, the nation will decide a number of key congressional and gubernatorial races in the midst of worsening political polarization that the social network...
Eric Velasquez Frenkiel had a seemingly simple thought when visiting his family in the Philippines, impressed by the cashless economy that had formed. Instead of sending money to his family once a year – a costly, fee-heavy affair – why can’t he just leave his credit card there? As with many...
President Joe Biden signed the climate-and-energy-focused Inflation Reduction Act into law today, a turn of events that just a few months ago seemed impossible. The move will undoubtedly bolster the United States’ stance in the next round of climate negotiations. And by the end of the decade,...
As digital tracking wanes, companies turn to online communities for direct access to customers
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As regulation and platform policies make it more difficult to track people across the internet, it has forced companies to rethink how to understand and get to know their customers. If they can’t stalk them surreptitiously, how can they gain a full understanding of their needs and wants? The...
Analyzing data generated within the enterprise — for example, sales and purchasing data — can lead to insights that improve operations. But some organizations are struggling to process, store and use their vast amounts of data efficiently. According to an IDC survey commissioned by Seagate,...
Faraday Future, maker of the long-delayed FF91 EV, re-upped its commitment to raising funds while reporting Tuesday that its second-quarter operating losses more than quadrupled. The company posted an operating loss of $137 million for the second quarter, compared with $28 million for the year-ago...
NASA engineers have completed final tests of the Space Launch System (SLS), clearing the way for the mega moon rocket to roll out to the launch pad today instead of Friday as originally planned. The space agency was able to move up the date for the rollout — when a transporter-crawler moves the...
Walmart’s last-mile delivery service business, Walmart GoLocal, has topped 1 million deliveries in its first year, the retailer today revealed. The company offered a brief update on the state of its newer delivery business during its Q2 earnings call on Tuesday, where it noted that GoLocal had...
Ever since technology stocks began getting repriced in late 2021, we kept hearing that the correction would eventually trickle down to private startups. Each quarter brought its share of answers on how the venture capital slowdown would shape up. Would it impact late-stage deals first? Yes. Would...
Roku announced today that it added 14 new linear channels through its Live TV Guide on its free streaming hub, The Roku Channel, including several new local news streams. Viewers can now access three NBC local news channels, San Diego, Boston, and San Francisco Bay Area, as well as LX News, a news...
Netflix lost almost a million subscribers in the last quarter, and the streaming giant expects to shed hundreds of thousands more this year. Does that mean consumers are suffering from “subscription fatigue?” Or are there just more options to choose from as studios set up new platforms (and...
This cycle of tech layoffs has been consistent yet highly nuanced. No two layoffs are the same, both when comparing two separate companies which happened to have cut a fifth of staff in the same hour, or when highlighting that the same entity has cut staff twice in a short time span. On Equity, a...
VC firms love growth, and despite predictions of winter settling in across the cryptoverse, the global crypto wallet forecast is anything but chill. Estimates expect that the crypto wallet market will grow by $686.05 million between 2022 and 2026. Phantom, one of the top Solana-focused wallet...
Meta rolls out new Reels features on Instagram and Facebook, including an ‘Add Yours’ sticker
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Meta announced today that it’s launching new Reels features for Instagram and Facebook. Most notably, the company is rolling out an “Add Yours” sticker for Reels on both social networks. The sticker allows users to respond to other users’ Reels with their own following a prompt or a...
Supply chain shortages and high gasoline prices have forced consumer packaged goods companies to manage trade more effectively over the past year to compete with other brands. Add in a worker shortage, and some brands are finding third parties they relied on are “dropping the ball when it comes...
Reentering society after years in prison is difficult for many reasons, among which perhaps the most prosaic is simply that it’s hard to get a job — and what training and transition programs exist are far from sufficient. Emerge Career hopes to change that with an improved in-facility training...
Amazon and data measurement firm Nielsen have sealed a three-year deal for measuring the ratings of Prime Video’s “Thursday Night Football” (TNF). Nielsen said that this would be the first time that the firm will include a streaming service and its live streaming program in its National TV...
Oracle now monitoring TikTok’s algorithms and moderation system for manipulation by China’s government
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Oracle has begun auditing TikTok’s algorithms and content moderation models, according to a new report from Axios out this morning. Those reviews began last week, and follow TikTok’s June announcement it had moved its U.S. traffic to Oracle servers amid claims its U.S. user data had been...
This is the sort of thing I definitely would have been all over when I still traveled a bunch for work. Twelve South has long been the go-to for MacBook stands and the like, and today the company introduced a clever addition to the family: the collapsible/portable Curve Flex. The stand collapses...
Apple has been reluctant to cut jobs in the face of the economic downturn like Microsoft, Tesla and other major tech companies, but it apparently isn't immune to the pressure. Bloombergsources claim Apple has laid off roughly 100 contract recruiters to reflect changes in the company's "current...
When social audio app Clubhouse launched in May of 2020 (with a $100 million valuation), it took off like a rocket ship fueled, in large part, by pandemic restrictions that made it difficult for people to gather and talk in person. By April 2021, it raised a Series C funding round (led by...
When it comes to crime, illicit activity is still abundant regardless of crypto volatility, according to a new Chainalysis report. “Cryptocurrency transaction volumes this year for both illicit and legitimate entities are tracking behind 2021 through July,” the report stated. “Overall,...