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…
UK Urges Corona Tech Togetherness, Ahead of “Digital Dunkirk”
Downing Street, the residence of British Prime Minister Boris Johnson, teemed with tech luminaries on Wednesday night, as the UK leader urged companies to provide resources to contain the COVID-19 outbreak. The…
Uber Stocks Tumble, as Company Ponders Coronavirus Driver Suspension
Uber’s share price has plummeted almost 10%, as the ride-hail company scrambles for solutions amid the Coronavirus outbreak. Uber is one of a number of firms—including rival Lyft, whose price dropped 11.8%—whose…
Rajeev Misra, Head of SoftBank Vision Fund, Accused of “Honey Trap” Plot
Rajeev Misra, the head of SoftBank’s Vision Fund, has been accused of a sensational plot to blackmail SoftBank’s then-president in 2015. According to a Wall Street Journal exposé, Misra planned to sabotage…
SoftBank-backed Zume Cuts Staff, as Japan Investor Rolls Back Startup Ambition
Robotic pizzamaker Zume is laying off half its staff and will stop making pizzas, its co-founder and CEO has announced. Alex Garden said the California-headquartered firm will now concentrate on its packaging…
Deals of the Week: Hashicorp goes Unicorn, Chinese Coffee Burns Cash and Grab Gets Bumper Funding
Hashicorp: The Young, Hot Startup Worth $1.9 Billion Hashicorp is an open-source software firm that has quickly gained traction. Last Thursday, investors stumped up $100 million that valued the company at $1.9 billion.…
Uber’s London License Appeal Begins Today
Uber’s appeal to overturn a ban on its operation in London begins today. The hearing, which opens at Westminster magistrates court, is expected to last several days, and represents the latest chapter…
Scooter Firm Bird to Hit $2bn Value with Huge Funding Round
Electric scooter startup Bird is on the verge of a $2 billion valuation, as it prepares to close a $300m funding round. The Venice, CA-headquartered company, which has already raised $115m, will…
As May Day Arrives, will Silicon Valley’s Workers Unite?
May Day, also known as International Workers’ Day, is not well observed in the United States. But it is, in fact, an American invention – adopted as a result of the Haymarket…
Uber’s Self-Driving Fatality Must Precipitate Regulatory Crackdown
Yesterday an Uber self-driving car hit and killed 49-year-old Elaine Herzberg in Tempe, Arizona. First, a rant to the media: it doesn’t matter whether Ms Herzberg was homeless or not, or whether…