The trial of Trevor Milton, the founder of electric truckmaker Nikola Motor accused of fraud and securities fraud, has begun. Prosecutors allege Milton exaggerated the company’s technology which led to huge losses…
Twitter Finally Adds Edit Button
For many years users of the social media platform Twitter have asked for one thing, an edit button. Finally, the company is giving in to the pressure, and will trial the new…
Musk Subpoenas Twitter Whistleblower in Latest Bid to Nullify Takeover Deal
Elon Musk has subpoenaed the Twitter whistleblower who last week accused the company of poor security practices, as he continues to fight to withdraw from his $$44 billion agreement to buy the…
California to Ban Gas-Powered Vehicle Sales by 2035
California moved a step closer to banning the sale of gasoline-only vehicles by the year 2035, in a landmark move in the state’s attempt to take on climate change. Gavin Newsom, the…
Zoom Shares Drop Amid Murky Outlook
Shares of video communications company Zoom fell 16% on Tuesday after the company missed revenue estimates for the second quarter. Zoom reported $1.10 billion in revenue for the three months ending June,…
Streaming Overtakes Cable TV For First Time in United States
TV viewers in the United States are watching streaming services like Netflix and Disney + more than cable TV, according to a report by market measurement firm Nielsen—the first time streaming has…
Adam Neumann Secures $350m for Residential Real Estate Venture
Andreessen Horowitz has confirmed its largest individual investment ever, writing a check of $350 million to Flow, the residential real estate company led by Adam Neumann, the controversial founder of WeWork. Neumann’s…
Rivian Announces Production Ramp Up, $1.7 billion loss
Rivian, the electric vehicle manufacturer which went public in the biggest IPO of last year, has reaffirmed its expectation to deliver 25,000 vehicles this year, as it posted a giant loss in…
Post-Pandemic Travel Boosts Uber and Lyft
Ride-hailing giants Uber and Lyft both reported promising Q2 results this week, as they took advantage of a post-Covid boom in travel. Uber posted its first ever cash-flow positive quarter. The Silicon…
Robinhood to Cut 23% of Workforce, Revenue falls 44%
Online brokerage Robinhood announced plans to lay off 23% of its workforce this week, amid falling revenues. It’s been a miserable week for the company, as its second quarter earnings report revealed…