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Posts filtered by tags: Wall Street Journal[x]


 

Founders Fund confirms $3 billion in new capital across two funds

Founders Fund, the investment firm led by its controversial co-founder Peter Thiel and partners Keith Rabois and Brian Singerman, has closed on $3 billion in new capital across two investment funds, TechCrunch confirmed. News of the firm’s latest fundraising close was first reported in Axios. The firm’s $1.2 billion Founders Fund VII closed in December and follows on the heels of a $1.3 billion Fund VI, which closed in 2016. The firm’s first growth fund, which raked in $1.5 billion, closed on Mo...
Tags: TC, Tech, Paypal, Peter Thiel, Airbnb, Wall Street Journal, Founders Fund, Thiel, Dan Primack, Keith Rabois, Banister, Rabois, Stripe Inc, Brian Singerman, Fund VII, Singerman Thiel


The life and career rise of billionaire Meg Whitman, the former eBay CEO leading a new streaming serve called Quibi

Meg Whitman, 63, is one of Silicon Valley's most storied CEOs. In her decades-long career, Whitman has been credited with turning around eBay and making major changes at Hewlett-Packard. Now, she's leading a new streaming platform called Quibi. Here's what you need to know about Whitman, a Princeton University graduate whose among the richest self-made women in the US. Visit Business Insider's homepage for more stories. Meg Whitman, now in her third iteration of being a tech CEO, is a veteran...
Tags: Google, Facebook, Twitter, Hollywood, California, Ebay, Boston, US, America, Los Angeles, Trends, Netflix, United Kingdom, New York Times, Hasbro, Silicon Valley


Leaked memo: A key Google Cloud president is leaving his role amid a reorganization that will see 'a small number' of positions eliminated (GOOG, GOOGL)

Google Cloud Industry Products and Solutions president Tariq Shaukat will be leaving his role amid a reorganization that will see "a small number" of positions eliminated, according to a memo sent to employees last week. You can read the full memo below. Shaukat held a crucial role within Google Cloud, helping hone its appeal to larger customers in regulated industries like biotechnology or finance. While he's leaving Google Cloud, he's exploring opportunities within the larger Google structur...
Tags: Google, Microsoft, Trends, Wall Street Journal, Amazon Web Services, Looker, Tariq, Industry Solutions, Google Cloud, Kurian, Tariq Shaukat, Shaukat, Enslin, Thomas Kurian, Robert Enslin, Thomas Kurian Google Cloud


Uber and Lyft Are Creating Traffic, Not Reducing It

The Wall Street Journal remembers how five years ago, Uber's co-founder "was so confident that Uber's rides would prompt people to leave their cars at home that he told a tech conference: 'If every car in San Francisco was Ubered there would be no traffic.'" He was wrong. Rather than the apps becoming a model of algorithm-driven efficiency, drivers in major cities cruise for fares without passengers an estimated 40% of the time. Multiple studies show that Uber and Lyft have pulled people away ...
Tags: New York City, San Francisco, Tech, Silicon Valley, Wall Street Journal, Stanford University, Science Advances, University of Kentucky, San Francisco County, Ubers, Fred Turner, Lyfts, Lyft Bruce Schaller


WeWork is bringing in a new CEO as it tries to right the ship — here's everything that's going on inside the coworking giant

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.  WeWork has announced real-estate veteran Sandeep Mathrani as its new CEO, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted. It's also seen a big board shakeup.  Marcelo Claure will stay on as chairman, according to The Wall S...
Tags: Google, New York, Mexico, Stanford, Wall Street, Softbank, Israel, US, America, San Francisco, Trends, Kanye West, Brooklyn, Aol, Italy, Brookfield


EU Judge Raises Prospect of Increasing Multibillion Fine Against Google

Alphabet's appeal against a multibillion-dollar fine for alleged anticompetitive behavior by its Google unit risks backfiring after a European Union court floated the prospect of increasing the fine (Warning: source paywalled; alternative source), rather than scrapping it. The Wall Street Journal reports: In a surprise twist Friday at the end of a three-day hearing, one of five judges on the panel said the EU's General Court has the power to increase the $2.6 billion fine, levied in 2017, if it ...
Tags: Google, Tech, Basf, Eu, European Union, Wall Street Journal, Christopher Thomas, EU s General Court, Colm Mac Eochaidh, Mac Eochaidh, European Court of Justice Read


An EU judge told Google it's landed on Monopoly's 'Go to Jail' square and reportedly threatened to increase its $2.6 billion antitrust fine

An EU judge has just slammed Google, saying that it's landed on "Go to Jail, do not pass go" in Monopoly terms. According to Politico, Judge Colm Mac Eochaidh said: "It is perfectly apparent that [Google] promoted [its] own and demoted others." Google is currently contesting a €2.4 billion ($2.6 billion) fine first imposed by the EU in June 2017, with the EU claiming Google had abused its dominance over other shopping comparison services. A Wall Street Journal reporter also tweeted midday Frid...
Tags: Google, Trends, Eu, Wall Street Journal, Valentina Pop, Thomas Graf, Colm Mac Eochaidh, Eochaidh, Politico Judge Colm Mac Eochaidh, Pop Eochaidh


Jeff Bezos’ $165M mansion deal shatters Los Angeles sales record

Bezos bought the Beverly Hills estate from Hollywood mogul David Geffen in an off-market deal without the involvement of any agents.
Tags: Amazon, Hollywood, Technology, Listings, Lifestyle, Los Angeles, Radio, Beverly Hills, Jack Warner, Jeff Bezos, Wall Street Journal, Warner Brothers, David Geffen, Bezos, News Brief


Amazon cloud boss Andy Jassy shares the important lesson the company learned from launching its failed Fire Phone (AMZN)

On Wednesday at the Goldman Sachs Technology and Internet Conference, Amazon Web Services CEO Andy Jassy spoke about what Amazon learned from launching the now-shuttered Amazon Fire Phone. When it was released in 2014, sales were disappointing and Amazon had to close its operations, but Amazon was still able to learn from the team it hired, its plans, its customer conversations, and its technology. Jassy says that Amazon encourages employees to try new things, which was how AWS started. Visit ...
Tags: Apple, Google, Amazon, Microsoft, San Francisco, Trends, Tim Cook, Wall Street Journal, Google Photos, Amazon Web Services, Alexa, Andy Jassy, Amazon Fire Phone, Goldman Sachs Technology and Internet Conference, Jassy


Jeff Bezos buys lavish Beverly Hills estate for record $165m – report

Amazon founder purchases nine-acre estate once owned by Warner Bros president, Wall Street Journal saysJeff Bezos has set a new property price record in Los Angeles with the purchase of a $165m Beverly Hills estate, the Wall Street Journal reported.The Amazon founder’s purchase of the home from the media mogul David Geffen is the largest amount paid for a single-family Los Angeles-area home. The nine-acre estate originally belonged to Jack Warner, the late former president of Warner Bros Studios...
Tags: Amazon, Real Estate, Technology, Internet, Los Angeles, E-commerce, US news, Beverly Hills, Jack Warner, Warner Bros, Jeff Bezos, Wall Street Journal, Napoleon, David Geffen, Bezos, Josephine


Catching up on China’s tech influence operations in America

It’s been a dizzying few weeks following all the China news emanating from Washington DC these days. While a “phase one” trade deal with China has been signed and appears to be moving forward as of a month ago (we covered the origins of this trade war extensively on TechCrunch in 2018 and 2019), it has also become clear that the Trump administration and its various agencies are aggressively targeting China on a variety of fronts. Here’s what’s been happening with startup funding, Huawei, univers...
Tags: Google, Verizon, Asia, UK, Wtf, Justice, Saudi Arabia, Government, China, Germany, Softbank, America, Tech, Intel, Policy, Harvard


WhatsApp seized on US allegations against Huawei to defend encryption against the government's demands for backdoors

Earlier this week US officials accused Chinese tech giant Huawei of spying for the Chinese government by using telecoms backdoors designed for use by law enforcement. WhatsApp seized on the story as an example of why it shouldn't build backdoors in its encrypted messaging for law enforcement. WhatsApp and its parent company Facebook have been fighting off US government demands to build methods for law enforcement to infiltrate encrypted messaging. Visit Business Insider's homepage for more sto...
Tags: Apple, Facebook, China, US, Trends, Fbi, Louisiana, Huawei, Wall Street Journal, Journal, Business Insider, Electronic Frontier Foundation, Trump, Cathcart, Will Cathcart


Jeff Bezos buys lavish Beverly Hills estate for record $165m – report

Amazon founder purchases nine-acre estate once owned by Warner Bros president, Wall Street Journal saysJeff Bezos has set a new property price record in Los Angeles with the purchase of a $165m Beverly Hills estate, the Wall Street Journal reported.The Amazon founder’s purchase of the home from the media mogul David Geffen is the largest amount paid for a single-family Los Angeles-area home. The nine-acre estate originally belonged to Jack Warner, the late former president of Warner Bros Studios...
Tags: Amazon, Technology, Internet, Los Angeles, E-commerce, Beverly Hills, Jack Warner, Warner Bros, Jeff Bezos, Wall Street Journal, Napoleon, David Geffen, Bezos, Josephine, Warner Bros Studios Warner


Understanding Airbnb’s new, stubborn lack of profits

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. This morning we’re exploring Airbnb’s march to the public markets. The popular DIY hospitality startup promised last year that it would go public in 2020. That timeline means that its 2019 performance will be included in an eventual S-1 filing, putting the results on public display. Recent news, however, doesn’t paint a perfect picture for the famous unicorn. Indeed, Airbnb’s ...
Tags: Fundings & Exits, Startups, TC, Tech, Airbnb, Wall Street Journal, Unicorn, Wall St, Direct Listing


The US says Huawei has been spying through 'backdoors' designed for law enforcement — which is what the US has been pressuring tech companies to do for years

The US government accused Huawei of spying on people by exploiting telecoms backdoors intended for use by law enforcement, the Wall Street Journal reports. The US has repeatedly accused Huawei of spying for the Chinese government, but this is the first detail it's ever given about how it thinks Huawei does it. Huawei denies the allegation. The US government has been pressuring tech companies like Apple and Facebook to build vulnerabilities for law enforcement to access encrypted devices and me...
Tags: Apple, Facebook, UK, China, Germany, US, Trends, Fbi, Huawei, Wall Street Journal, Journal, Trump, Veale, William Barr, Michael Veale, Digital Rights and Regulation


Facebook will pay Reuters to fact-check Deepfakes and more

Eye-witness photos and videos distributed by news wire Reuters already go through an exhaustive media verification process. Now the publisher will bring that expertise to the fight against misinformation on Facebook. Today it launches the new Reuters Fact Check business unit and blog, announcing that it will become one of the third-party partners tasked with debunking lies spread on the social network. The four-person team from Reuters will review user generated video and photos as well as ne...
Tags: Social, TC, Facebook, Media, Washington, Mexico, Government, Funding, US, Tech, Policy, Wall Street Journal, Baker, Zuckerberg, Reuters, Agence France Presse


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Wednesday. Samsung announced multiple new products during its big Unpacked event, from a new foldable phone, the Galaxy Z Flip, to the $1,400 Galaxy S20 Ultra with 100x zoom. The Korean tech giant announced no fewer than five major new devices during the event, including the company's best shot at Apple's AirPods. The FTC is looking into "hundreds" of potential anticompetitive acquisitions made by Apple, Facebook, Microsoft, and Google-...
Tags: Apple, Google, Facebook, Spacex, Softbank, Samsung, San Francisco, Trends, Tesla, Barcelona, Intel, Nasa, Sprint, Airbnb, Cia, Jack Dorsey


Bill Simmons scores massive sale as Spotify buys his publication, The Ringer, for reported $250 million

Spotify reportedly spent $250 million to acquire The Ringer, an online publication for sports and pop culture, Bloomberg reported. The purchase, which Spotify confirmed last week, is the streaming platform's latest move to grow its presence in podcasting, and follows recent purchases of Gimlet Media, Anchor, and Parcast. The Ringer, which has more than 40 podcast titles, was founded in 2016 by ESPN sports journalist Bill Simmons. Simmons' exact ownership stake in The Ringer isn't known, but th...
Tags: Apple, Spotify, Hbo, US, Trends, Bloomberg, Espn, Daniel Ek, Wall Street Journal, Bill Simmons, Simmons, Lucas Shaw, Gimlet Media Anchor, Bill Simmons Simmons, Gimlet Media Parcast, Ringer Simmons


Mastercard given approval to prepare for entry into China’s payments market

After years of unsuccessful attempts to enter China’s massive $27 trillion payments market, Mastercard announced today it has won approval from the People’s Bank of China (PBOC) to begin formal preparation to set up a bankcard clearing institution in China. The news is a significant step towards Mastercard being able to do business in China, where large, domestic players currently dominate. Last year, Mastercard set up a joint venture with NetsUnion Clearing Corp., a clearing house for online pa...
Tags: Finance, China, Tech, Bloomberg, Beijing, Payments, Amex, Wall Street Journal, Mastercard, Pboc, People s Bank of China, Frost Sullivan, People s Bank of China PBOC, Ajay Banga, NetsUnion Clearing Corp, China Instead American Express


The rise and fall of Elizabeth Holmes, who started Theranos when she was 19 and will now stand trial over 'massive fraud' in July 2020

Elizabeth Holmes dropped out of Stanford University at 19 to start blood-testing startup Theranos, and grew the company to a valuation of $9 billion. But it all came crashing down when the shortcomings and inaccuracies of the company's technology were exposed, and Theranos and Holmes were charged with "massive fraud." A California judge has set a August 2020 start date for the federal fraud trial for which, if convicted, Holmes could face up to 20 years in prison. Visit Business Insider's ho...
Tags: Apple, Hbo, Instagram, Abc, California, Washington, Cbs News, Stanford, Singapore, US, San Francisco, Trends, Walgreens, Beijing, Larry Ellison, Bill Clinton


Trump's immigration enforcement agents use cellphone location data to track individuals for detention - WSJ

A commercial database that maps the movements of millions of cellphones is being used by immigration and border authorities to round up undesirable immigrants for detention and deportation. The Wall Street Journal [paywall] published a special report on Friday about how federal agencies under impeached president Donald Trump are exploiting cellphone location data to track individuals for enforcement of Trump's racist immigration policies. “The location data is drawn from ordinary cellphone ap...
Tags: Gadgets, Post, Business, Politics, Technology, News, Immigration, Tech, US news, Dhs, Surveillance, Cellphones, Mobile Phones, Donald Trump, Wall Street Journal, WSJ


Google and other tech giants want Hong Kong alternative after U.S. blocks undersea cable

• 'U.S. tech giants are considering alternatives to Hong Kong as a global data hub after national security officials upended plans for a trans-Pacific internet link to the territory, according to people familiar with the matter.' —- WSJ Alphabet/Google and other U.S. tech giants are reported by the Wall Street Journal on Friday to be working together on alternatives to Hong Kong as a global data hub, after Trump administration officials reversed plans to develop a trans-Pacific internet link t...
Tags: Google, Hong Kong, Post, Technology, News, Internet, World news, Taiwan, Infrastructure, Telecommunications, Philippines, Telecoms, Pacific, Wall Street Journal, WSJ, Trump


Tech giants seek Hong Kong alternative after U.S. blocks undersea cable - WSJ

U.S. tech giants including Alphabet Inc's Google are considering alternatives to Hong Kong as a global data hub after U.S. officials upended plans for a trans-pacific internet link to the territory, the Wall Street Journal reported https://www.wsj.com/articles/tech-giants-seek-hong-kong-alternative-after-u-s-blocks-data-cable-11581100520?mod=searchresults&page=1&pos=1 on Friday citing people familiar with the matter.
Tags: Google, Hong Kong, Money, businessNews, Wall Street Journal, Alphabet Inc


Tech giants seek Hong Kong alternative after U.S. blocks under-sea cable - WSJ

U.S. tech giants including Alphabet Inc's Google are considering alternatives to Hong Kong as a global data hub after U.S. officials upended plans for a trans-pacific internet link to the territory, the Wall Street Journal reported https://www.wsj.com/articles/tech-giants-seek-hong-kong-alternative-after-u-s-blocks-data-cable-11581100520?mod=searchresults&page=1&pos=1 on Friday citing people familiar with the matter.
Tags: Google, Hong Kong, Money, businessNews, Wall Street Journal, Alphabet Inc


ACLU says it’ll fight DHS efforts to use app locations for deportations

The American Civil Liberties Union plans to fight newly revealed practices by the Department of Homeland Security which used commercially available cell phone location data to track suspected illegal immigrants. “DHS should not be accessing our location information without a warrant, regardless whether they obtain it by paying or for free. The failure to get a warrant undermines Supreme Court precedent establishing that the government must demonstrate probable cause to a judge before getting som...
Tags: Supreme Court, Russia, Tech, Dhs, United States, Aclu, Homeland Security, CBP, Department Of Homeland Security, Wall Street Journal, Journal, American Civil Liberties Union, China India, Carpenter, Electronic Privacy Information Center, Customs Enforcement ICE


Lights out at General Electric

Lights out at General Electric From all-American conglomerate to crony corporation groveling for government bailouts Frank.holub February 7, 2020 - 10:45am Bill Crosby credits General Electric Co. with powering his family into the middle class starting with his grandmother, Vera Baskin.  Baskin was born in 1888 on a farm in Mississippi, where she grew up with seven brothers. She lived through the Great Depression, moved to Atlant...
Tags: Apple, Facebook, New York, Ge, Mississippi, Obama, Washington, Kentucky, Germany, Boston, New York City, Religion, America, Atlanta, Aig, Harvard


Trump said to propose roughly $3 billion NASA budget boost for 2021

President Donald Trump is set to request a budget of $25.6 billion for NASA for its fiscal 2021 operating year, the Wall Street Journal reported on Friday. It’s looking for nearly $3 billion more than the $22.6 billion NASA had for its current fiscal year, and the bulk of the new funding is said to be earmarked for development of new human lunar landers. This represents one of the single largest proposed budget increases for NASA in a couple of decades, but reflects Trump’s renewed commitment...
Tags: TC, Space, Spacex, Congress, Tech, Nasa, Moon, President, Lockheed Martin, Donald Trump, Spaceflight, Aerospace, Boeing, Wall Street Journal, WSJ, Artemis


Google and Facebook turn their backs on undersea cable to China

Google and Facebook seem to have resigned themselves to losing part of the longest and highest profile internet cable they have invested in to date. In a filing with the Federal Communications Commission last week, the two companies requested permission to activate the Pacific Light Cable Network (PLCN) between the US and the Philippines and Taiwan, leaving its controversial Hong Kong and Chinese sections dormant. Globally, around 380 submarine cables carry over 99.5 percent of all transocean...
Tags: Google, Facebook, Asia, Hong Kong, Spacex, Fcc, Internet, Washington, Government, Senate, China, US, America, Los Angeles, Tech, Taiwan


Facebook’s use of Onavo spyware faces questions in EU antitrust probe — report

Facebook’s use of the Onavo spyware VPN app it acquired in 2013 — and used to inform its 2014 purchase of the then rival WhatsApp messaging platform — is on the radar of Europe’s antitrust regulator, per a report in the Wall Street Journal. The newspaper reports that the Commission has requested a large volume of internal documents as part of a preliminary investigation into Facebook’s data practices which was announced in December. The WSJ cites people familiar with the matter who told it...
Tags: Google, Social, TC, Facebook, Apps, Europe, UK, US, Social Media, Tech, Eu, European Union, Whatsapp, Spyware, United Kingdom, Commission


Coronavirus is suppressing Chinese commerce at a moment when Apple looked to be gaining momentum in the market

Prominent Apple analyst Ming-Chi Kuo downgraded his Q1 2020 iPhone shipments forecast by 10%, reflecting coronavirus containment efforts that have disrupted markets, according to MacRumors. Over the weekend, Apple indefinitely closed its corporate offices and retail stores in China, a market that accounts for approximately 20% of Apple's global revenues, according to The Wall Street Journal. The measure is part of a concerted effort by the Chinese government and corporations to protect workers ...
Tags: Apple, Mexico, China, Trends, Wall Street Journal, Foxconn, Wuhan, Reuters, Reuters Apple, Ming Chi Kuo, Vietnam India, GSMA Intelligence



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