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Donald Trump's closest Silicon Valley ally, Peter Thiel, is reportedly abandoning the president's re-election campaign

Peter Thiel is backing away from supporting Trump's re-election campaign, sources told the Wall Street Journal. Thiel has been Trump's most high-profile ally in Silicon Valley. Sources said Thiel thinks Trump's re-election campaign is doomed to fail becuase of the economic damage done by the coronavirus pandemic. Visit Business Insider's homepage for more stories. Donald Trump's most vocal supporter in Silicon Valley, Peter Thiel, has reportedly lost faith that Trump can win the 2020 election...
Tags: Facebook, Mark Zuckerberg, Senate, US, Trends, Paypal, Hawaii, House, Peter Thiel, Silicon Valley, Donald Trump, Wall Street Journal, Palantir, Journal, Trump, Department of Health and Human Services


A Facebook recruiter filed a federal complaint alleging the company is biased against Black employees and job candidates (FB)

A Facebook recruiter and two rejected job applicants filed a complaint Thursday with the Equal Employment Opportunity Commission accusing the company of discriminating against Black workers, as first reported by The Washington Post. The three workers, all of whom are Black, alleged that Facebook has a pattern of "racial discrimination in hiring, evaluations, promotions, and pay" for Black employees and job applicants. "There may be Black Lives Matter posters on Facebook's walls, but Black work...
Tags: Apple, Google, Facebook, Mark Zuckerberg, Washington Post, Trends, Unilever, Silicon Valley, Naacp, Donald Trump, The Washington Post, Black, Business Insider, Zuckerberg, Equal Employment Opportunity Commission, Anti Defamation League


Palantir has raised more than $500 million in fresh funding as the secretive and controversial startup works toward a possible IPO

Palantir said it sold more than $500 million in stock to private investors and hopes to sell about $400 million more.  The company was said to be preparing for a September IPO, and it's unclear how the new funding affects those plans.  As a data-analytics company cofounded by a Trump confidant that works with US immigration agencies, the startup has also found itself in controversy.  Visit Business Insider's homepage for more stories. Palantir, the secretive data-analytics company cofounded b...
Tags: US, Trends, Bloomberg, Peter Thiel, Silicon Valley, Palantir, Securities And Exchange Commission, Trump, Valley, Joe Lonsdale, Customs Enforcement, Slack Palantir


Trump administration pays Peter Thiel-backed startup hundreds of millions of dollars to build a virtual border wall

Silicon Valley military contracting startup Anduril has been awarded a contract with US Customs and Border Protection to build a "virtual" wall as a means to monitor crossings in the US. As first reported by the Washington Post, the system will use surveillance towers to detect movement and artificial intelligence to distinguish between humans and other objects, like animals. A price was not disclosed, but Anduril execs told the Post that the deal was worth several hundred million dollars. The...
Tags: Facebook, Post, Washington Post, US, Trends, Peter Thiel, Silicon Valley, Customs, Border Patrol, Lotr, Tolkien, Palmer Luckey, Trump, Border Protection, J R R Tolkien, US Customs


The Trump administration has hired a military contracting firm backed by Trump adviser Peter Thiel to build a virtual border wall

Silicon Valley military contracting startup Anduril has been awarded a contract with US Customs and Border Protection to build a "virtual" wall as a means to monitor illegal crossings in the US. As first reported by the Washington Post, the system will use surveillance towers to detect movement and artificial intelligence to distinguish between humans and other objects, like animals. A price was not disclosed, but Anduril execs told the Post that the deal was worth several hundred million doll...
Tags: Facebook, Post, Washington Post, US, Trends, Peter Thiel, Silicon Valley, Customs, Border Patrol, Lotr, Tolkien, Palmer Luckey, Trump, Border Protection, J R R Tolkien, US Customs


QuestDB nabs $2.3M seed to build open source time series database

QuestDB, a member of the Y Combinator summer 2020 cohort, is building an open source time series database with speed top of mind. Today the startup announced a $2.3 million seed round. Episode1 Ventures led the round with assistance from Seedcamp, 7percent Ventures, YCombinator, Kima Ventures and several unnamed angel investors. The database was originally conceived in 2013 when current CTO Vlad Ilyushchenko was building trading systems for a financial services company and he was frustrated by t...
Tags: Startups, TC, Open Source, Cloud, Y Combinator, Enterprise, Developer, Funding, Tech, Silicon Valley, South America, Databases, Cto, Marc Andreessen, US EU, QuestDB


20 Apple patents spanning wearable tech, VR, and autonomous driving that reveal its most promising ambitions for the future, according to Bank of America experts

Apple has made in-roads on expanding into new markets like digital healthcare, but Bank of America analysts say investors remain concerned about the tech giant's lack of innovation.  To figure out how the Silicon Valley stalwart is planning to capitalize on emerging technology, the analysts analyzed patent filings and narrowed the list down to the top 20 most promising applications.  The filings, both approved and pending, cover everything from virtual reality to autonomous cars, and build upo...
Tags: Apple, Amazon, Trends, Bank Of America, Silicon Valley, Apple Watch, Goodyear, Apple Watches, Wamsi Mohan Ruplu Bhattacharya, Ziv Isreal


Palmer Luckey's military contracting startup Anduril is now worth $1.9 billion

Anduril announced Wednesday it's raised $200 million in new funding. The startup military contractor, founded by Oculus designer Palmer Luckey, is now valued at $1.9 billion, nearly double its valuation at its last funding round in September. VC firm Andreessen Horowitz led the round. Anduril plans to use the funds to continue developing its surveillance, drone, and artificial intelligence technologies and to augment its workforce. Visit Business Insider's homepage for more stories. Anduril, ...
Tags: Facebook, California, Ipo, Softbank, US, Trends, Hillary Clinton, Silicon Valley, CBP, Andreessen Horowitz, Customs, Donald Trump, Palmer Luckey, Trump, Troy Wolverton, Luckey


California governor says 70% of state must stop going to movie theaters, bars, and indoor restaurants as COVID-19 cases continue to surge

California Gov. Gavin Newsom announced an order directing bars, restaurants, and movie theatres to close in 19 counties, including Los Angeles. The directive affects more than 70% of the state's population and comes as the state has set new records for daily infections over the past week. California was quick to shut down on March 19 toward the beginning of the pandemic, but experts say it reopened too soon. Visit Business Insider's homepage for more stories. California is directing bars and...
Tags: California, US, Los Angeles, Trends, Silicon Valley, Santa Clara, Gavin Newsom, Newsom, Holly Secon, Anthony Facui, San Francisco Bay Area But California


Student-led accelerator Envision is shaking up which startups get funded

Meet Envision, a new startup accelerator. The group, built and run by a collection of students and recent graduates, just closed the application process for its first cohort of startups. Its goal isn’t merely to find some companies and give them a boost, however. According to Annabel Strauss and Eliana Berger, two co-founders of Envision, it’s to shake up the diversity stats that we’ve all come to know. “We started Envision because we believe in a future where womxn, Black, and Latinx founder...
Tags: Fundings & Exits, Startups, TC, Tech, Diversity, Silicon Valley, Berger, Ryan Hoover, Envision, Strauss, Alexia Tsotsis, Lerer Hippeau, Techcrunch Include, Rough Draft Ventures, Annabel Strauss, Eliana Berger


San Francisco now has the 3rd-most billionaires of any city in the world, beating out London, Moscow, and Beijing

San Francisco is now the third city in the world with the most billionaires, per a new Wealth-X report. The tech hub gained two billionaires in 2019, bringing its total billionaire count to 77. San Francisco beat out cities including London, Moscow, and Beijing. New York is No. 1, with 113 billionaires. Visit Business Insider's homepage for more stories. San Francisco's pool of billionaires has ballooned just a bit more in the past year, according to a new report. The Wealth-X Billionaire Cen...
Tags: Amazon, Hong Kong, Elon Musk, New York, US, Los Angeles, San Francisco, Trends, Tech, Tesla, Beijing, New Zealand, Silicon Valley, Jeff Bezos, Jack Dorsey, Kiwi


In a new lawsuit, California accuses Cisco of allowing 2 managers to harass a fellow Indian employee from the 'untouchable' caste (CSCO)

Cisco has been accused of allowing two managers to harass an Indian employee because he's from a lower caste known as "untouchables," according to a federal suit filed by the California Department of Fair Employment and Housing. The suit, which was filed Tuesday, accuses the tech giant for failing to stop the managers from a higher Indian caste from mistreating their fellow Indian employee because he is a Dalit, known as the "most disadvantaged" caste in Indian society. The employee "was expec...
Tags: Facebook, California, India, Trends, Cisco, Silicon Valley, Sap, San Jose California, Chuck Robbins, Blum, California Department of Fair Employment, Business Insider Cisco, SecureDrop Claim, Robyn Blum


Mark Zuckerberg's network effects nightmare

Hello and welcome back to Trending, Business Insider's weekly look at the world of tech. I'm Alexei Oreskovic, Business Insider's West Coast Bureau Chief and Global Tech Editor. If you want to get Trending in your email inbox every Wednesday, just click here. This week: Tech's "surge" of goodbyes and Facebook's network effects nightmare The tech business thrives on newness — new products, new features, new speeds. Even when the new stuff is really just old stuff with a new name, you can be s...
Tags: Apple, Google, Amazon, Facebook, Mark Zuckerberg, Microsoft, Yahoo, Ipo, Softbank, US, Trends, CMO, Tesla, Netflix, Missouri, Aol


This public spreadsheet lists Black founders who have raised VC, and the investors backing them

Finding out how many Black founders have successfully raised venture capital, and which venture capital firms invested in their startups hasn’t been an easy task, historically. Venture capital data is often diceable by stage, say, or by startup type. But if you wanted to know how many Black founders a particular firm had invested into, that information has been hard to come by. Until now, that is. Earlier this year, a group called People of Color in Tech compile what it called “the most comprehe...
Tags: Fundings & Exits, Startups, TC, US, Tech, Silicon Valley, Norman, Black, James Norman, People Of Color In Tech, Juneteenth People of Color in Tech, Sefanit Tades


VCs no longer value a founding team's background as much as profitability, and that could be yet another blow to waning founder-friendly terms in Silicon Valley

According to a Pitchbook survey out June 25, investors valued a founding team's background less than they did in November 2019. The change coincided with an increased reliance on economically-resilient traits, such as business model and path to profitability, the study found. The shift is just the latest in the tectonic changes taking place in Silicon Valley, particularly in relation to the power balance between founders and venture capital investors that fund them. Many speculated that the cu...
Tags: Facebook, Boston, Trends, Atlanta, Reid Hoffman, Silicon Valley, Marc Andreessen, Pitt, Russ Wilcox, PitchBook, Wilcox, Twitter Google, Carolyn Pitt, Peter Thiel Tesla, Elon Musk Max Levchin


European tech: What startups can expect in Belgium, the Netherlands, and Luxembourg

Silicon Valley has largely dominated the narrative around technology startups and even though the American region is still king, it’s refreshing to see just how far Europe has come in recent years. If you’re an entrepreneur, investor, or working in European tech, you’ll benefit from knowing the basics of the landscape to get a better sense of where the next opportunity might arise. Much has been written about technology hotspots such as London — renown for its fintech capabilities — and Paris — ...
Tags: Startups, Europe, London, Paris, Luxembourg, Silicon Valley, Belgium the Netherlands, Growth Quarters


Dear Sophie: Is immigration happening? Who can I hire?

Sophie Alcorn Contributor Share on Twitter Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: What does the Supreme Court’s DACA decision mean for employers...
Tags: Work, Startups, Column, Supreme Court, California, Government, US, America, Tech, Policy, Silicon Valley, Talent, Lawyers, Hiring, Trump, USCIS


Elon Musk called Jeff Bezos a copycat — again — over Amazon's Zoox acquisition. Here are 9 other rivalries that have formed between some of the world's biggest tech CEOs.

While there are many close friendships among tech CEOs in Silicon Valley, there are plenty of feuds, too.  Some appear to be friendly rivalries — like Salesforce CEO Marc Benioff and Oracle CEO Larry Ellison — but others have become more contentious.  Tim Cook and Mark Zuckerberg, for example, have been openly feuding for years, while Elon Musk and Jeff Bezos have made digs at each other over outer space.  Visit Business Insider's homepage for more stories. Silicon Valley is a breeding ground...
Tags: Apple, Amazon, Facebook, Mark Zuckerberg, Twitter, Spacex, Elon Musk, Cook, Jobs, Instagram, Microsoft, Steve Jobs, Washington, Time, San Francisco, Trends


SoftBank-backed companies laid off more than 16,800 people in 2020 as the pandemic ravages startups

SoftBank-backed companies are laying off thousands of employees globally as they struggle to find paths to profitability. In the first full week of 2020, four companies – Oyo, Rappi, Getaround, and Zume – laid off a combined 2,600 employees.  In the last year, other SoftBank-backed companies including WeWork, Uber, Wag, and Fair have also cut their ranks dramatically.  SoftBank also saw significant executive turnover in the beginning of the year. If you work at a SoftBank-backed company, Busin...
Tags: Asia, Hong Kong, Japan, UK, New York, London, Australia, La, China, Ipo, India, Softbank, Israel, US, America, Los Angeles


Meet Material, a security startup emerging from stealth with $22 million from the likes of Andreessen Horowitz and the CEO of Dropbox that protects email messages even after an account is hacked

Material, an email security startup, is emerging from stealth mode Tuesday with $22 million in funding, including from a round led by legendary tech VC Andreessen Horowitz. The company takes a unique new approach to protecting email: it assumes your account will be hacked and protects the most sensitive information. The startup was launched after leaked emails changed the 2016 presidential election and the cofounders realized there was no product to address an email hack.  The product asks use...
Tags: Facebook, San Francisco, Trends, Munich, Hillary Clinton, Silicon Valley, San Jose, Andreessen Horowitz, Mars, Redwood City, Casado, Martin Casado, Chris Park, Alex Rice, Abhishek Agrawal, Ryan Noon


Meet Material, a security startup emerging from stealth with $22 million from the likes of Andreessen Horowitz and the CEO of Dropxbox that protects email messages even after an account is hacked

Material, an email security startup, is emerging from stealth mode Tuesday with $22 million in funding, including from a round led by legendary tech VC Andreessen Horowitz. The company takes a unique new approach to protecting email: it assumes your account will be hacked and protects the most sensitive information. The startup was launched after leaked emails changed the 2016 presidential election and the cofounders realized there was no product to address an email hack.  The product asks use...
Tags: Facebook, San Francisco, Trends, Munich, Hillary Clinton, Silicon Valley, San Jose, Andreessen Horowitz, Mars, Redwood City, Casado, Martin Casado, Chris Park, Alex Rice, Abhishek Agrawal, Dropxbox


Tech employees are selling referrals online to job candidates for under $50 to help them get hired at Google, Facebook, and other industry giants

A website is allowing prospective tech employees to anonymously purchase a job referral from existing tech workers for $20 to $50 apiece. Rooftop Slushie, created by the makers of techie chat favorite Blind, has hosted 11,000 referral transactions since it was launched in 2019. Facebook and Google referrals are the most popular. The "vendors" are established employees at companies like Amazon, Google, and Twitter who can become verified on the website and vet candidate submissions before accep...
Tags: Google, Amazon, Facebook, Hbo, Trends, Silicon Valley, Kim, Gizmodo, Blind, Slushie, Google Facebook, Google Amazon, Amazon Google, Nelson Big Head Bighetti, Seth King, Melia Russell


Tesla celebrates its 10th year as a public company today. Here are the most important moments in its history. (TSLA)

On June 29, 2020, Tesla celebrates its 10th year anniversary of going public. In 2010, Tesla offered 13.3 million shares at $17 per share. The company has permanently changed how the public perceives electric cars. Visit Business Insider's homepage for more stories. Tesla celebrates its 10th anniversary of going public on June 29. It's been a long 10 years, full of ups and downs. But it's fair to say that in 2020, Tesla has succeeded in putting electric cars on the radar for many buyers who o...
Tags: Spacex, Elon Musk, China, Trends, Tesla, United States, New York Times, Shanghai, TSLA, SEC, Silicon Valley, Sam Altman, Epa, Nevada, Mars, Nikola Tesla


Former high-flying VC Michael Rothenberg now faces criminal charges alleging 'multiple schemes to defraud' his investors

The former high-flying San Francisco venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund. The US attorney's office in Northern California announced the charges on Friday after investigations by the FBI and the IRS criminal-investigations unit. A whistleblower came forward about Rothenberg's business dealings in 2016. In a settlement with the Securities and Exchange Commission, he was barred from ...
Tags: US, San Francisco, Trends, Fbi, SEC, Silicon Valley, Irs, Drew Olanoff, Securities And Exchange Commission, Northern California, Rothenberg, Michael Rothenberg, Olanoff, Office for the Northern District of California


Former high-flying VC Michael Rothenberg now faces criminal charges alleging 'multiple schemes to defraud his victims'

Former high-flying San Francisco venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund. The US Attorney's office in Northern California announced the charges on Friday, after investigations by the FBI and the IRS criminal Investigations unit. A whistleblower came forward about Michael Rothenberg's business dealings back in 2016. In a settlement with the SEC, he was barred from the investment busine...
Tags: US, San Francisco, Trends, Fbi, SEC, Silicon Valley, Irs, Securities And Exchange Commission, Northern California, Northern District of California, Rothenberg, Michael Rothenberg, Olanoff, Drew Olanoff Olaniff


An animator built a miniature version of IBM's iconic 1401 computer system from scratch. Take a look.

A Montreal-based creator modeled a miniature replica of IBM's iconic 1401 computer system. Nicolas Temese told Business Insider that the scale model includes everything from the setup at the time: a punchcard reader, tape drives, a query console, a central unit, and a line printer. Temese said his model is going to be displayed in Silicon Valley's Computer History Museum, which also showcases a working, real-size 1401 computer system. Visit Business Insider's homepage for more stories. Nicola...
Tags: Google, Instagram, Trends, Ibm, Silicon Valley, Montreal, Montreal Canada, Mountain View California, Computer History Museum, Arvind Krishna, Nicolas Temese, Temese


$36 billion Stripe just launched a portal to help customers adapt their businesses to online retail during the coronavirus pandemic

On Monday, the $36 billion online-payments company Stripe launched a new customer portal for its billing product to help customers with managing subscription and billing details. It also added direct bank debit support for customers in Australia, Canada, Malaysia, and the UK. Stripe says that while some of its customers, such as Amazon, Slack, and Zoom, are seeing a surge in demand amid the pandemic, other customers have had to figure out how to adapt their businesses to the world of online re...
Tags: Amazon, UK, Trends, Silicon Valley, Stripe, Cto, Dyett, Eliot Horowitz, Australia Canada Malaysia, Amazon Slack, James Dyett


Mark Zuckerberg's net worth dropped nearly $10 billion in just a week as an advertiser boycott sinks Facebook's share price. Here's how the CEO makes and spends his fortune.

Advertisers including Verizon, Honda, and Ben & Jerry's are boycotting Facebook over the social network's lack of hate-speech moderation. The boycott is sinking both Facebook's share price and CEO Mark Zuckerberg's net worth. Zuckerberg has a net worth of $82.3 billion, making him the fourth-richest person in the world. Zuckerberg drives an affordable car and wears basic clothes, but appears to splurge on real estate, buying houses and then buying the surrounding properties for privacy.  Zu...
Tags: Facebook, Mark Zuckerberg, Europe, Yahoo, Minneapolis, US, America, San Francisco, Trends, Eu, Bloomberg, Palo Alto, Harvard, Ford, Paris, Athens


Construction's digital transformation is speeding up. Here are 10 contech startups to watch.

The pandemic has hit the construction tech space hard, leading to layoffs at SoftBank-backed Katerra and a pause on ProCore's plans for an IPO. But those short-term challenges may lead to long-term gains, with $265 billion in annual profits up for grabs according to McKinsey. Spending on construction technology has actually increased by 50% since the pandemic began by of the companies that McKinsey surveyed. The construction industry, which is notoriously old-school, is embracing technology th...
Tags: Google, Amazon, Australia, Softbank, Trends, Bloomberg, Citigroup, SEC, Silicon Valley, Goldman Sachs, Autodesk, Norway, Greylock Partners, Khosla Ventures, Bain, Atomico


Extra Crunch expands into Romania

Extra Crunch is now live in Romania. That adds to our existing support in Europe in Austria, Belgium, France, Germany, Italy, the Netherlands, Poland, Spain, and U.K.. There’s been reason to be bullish on Romania’s technology sector for some time. A TechCrunch op-ed called the country the “ Silicon Valley of Transylvania ” in 2016, noting that the number of startups in the country had grown by 20% from 250 to 300 in a year.  The country’s rich pool of developer talent (bullish notes on that...
Tags: Startups, TC, Europe, Media, Tech, Romania, Silicon Valley, Payments, Crunchbase, Transylvania, Extra Crunch, AWS DocSend Typeform Zoom



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