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☆ Rivian's head of software says the company is not trying to be like Tesla regarding automation
▼ + stars: | 2024-11-04 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Rivian Chief Software Officer Wassym Bensaid says the future of cars will be hands-free. Related storiesA $5 billion investment from Volkswagen announced in June could help the struggling EV company deliver on its cheapest model yet, the R2, priced at $45,000 and set to launch in 2026. In January, Goldman Sachs analysts said Rivian's software is "a key part of the value proposition and monetization opportunity" for the company. "Software is, really behind the scenes, pervasive throughout the entire company," Bensaid told BI. "And we see Rivian as a tech company.

Persons: Wassym Bensaid, Bensaid, —, we're, robotaxis, wasn't, RJ Scaringe, EVs, Scaringe, Kleiner Perkins, Tesla, Rivian, We're, Goldman Sachs Organizations: Service, Business, Rivian, TechCrunch, CSO, EV, Motors, Volkswagen, Tesla Locations: Irvine , California, San Francisco

☆ 'Father of the iPod' says Apple's staggered AI rollout is smart — and 'doesn't require nuclear power'
▼ + stars: | 2024-11-01 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Tony Fadell said Apple's staggered rollout of its AI features is smart. Apple Intelligence features became available Monday with iOS 18.1. Apple's AI features launched on iPhones with the release of iOS 18.1 on Monday. "People were like, 'I downloaded it,' and they were like, 'Apple's AI is meh,'" Fadell said. AdvertisementDuring Apple's earnings call on Thursday, CEO Tim Cook talked more about Apple's AI strategy, which plans to release additional Apple Intelligence features in December.

Persons: Tony Fadell, Fadell, Apple's, —, Apple, Siri, Tim Cook, Cook Organizations: Apple Intelligence, Service, Apple, Google, Microsoft, Big Tech, Constellation Energy, Amazon, Amazon Web Services Locations: SMRs, Australia, Canada, Ireland, New Zealand

☆ Amazon's cloud unit records highest profit margin in at least a decade
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Amazon said revenue in its cloud unit increased 19% in third quarter, just missing analyst estimates. AWS leads the cloud infrastructure market over Google and Microsoft and is an important source of profit for Amazon. On Tuesday Alphabet said revenue from Google Cloud, which includes cloud applications as well as infrastructure, totaled $11.35 billion, up 35%. Microsoft said Wednesday that revenue from Azure and other cloud services grew 33%. Google Cloud reported an operating margin of 17%.

Persons: Matt Garman, Oracle, Garman, Databricks, Naveen Rao Organizations: Amazon Web Services, Tech, Amazon, Revenue, Google, Microsoft, AWS, CNBC, TechCrunch Locations: Laguna Beach , California

☆ Tesla's self-driving mode is 'a bit stressful' to use, the cofounder of a robotaxi company backed by Amazon says
▼ + stars: | 2024-10-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

AdvertisementThe cofounder of Zoox, an Amazon-backed robotaxi company, said he sometimes feels nervous when using Tesla's so-called Full Self-Driving mode. FSD is a key piece of Tesla technology that will be critical for the company's fully autonomous vehicle and robotaxi visions. Levinson said part of the problem with Tesla's approach to autonomous driving is its reliance on cameras. Related storiesNot everyone is a skeptic of Tesla's autonomous driving vision. AdvertisementLike Waymo, Zoox uses a combination of LiDAR, radar, and cameras for its autonomous driving system.

Persons: Jesse Levinson, —, FSD, Tesla, Elon Musk, Levinson, Musk, Tesla's, it's, Andrej Karpathy, Karpathy, Zoox Organizations: TechCrunch, Service, Traffic, Administration, Waymo, PACE, Tesla, Las Locations: San Francisco, California, Texas, Market

☆ GM CEO Mary Barra says there's so much EV competition in China that it's driving a price war that isn't sustainable
▼ + stars: | 2024-10-30 | by ( Lloyd Lee | Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China. It's not sustainable for EV manufacturers like GM, Barra said. AdvertisementGeneral Motors CEO Mary Barra said there are so many companies trying to sell EVs in China right now that it's driving a price war that isn't sustainable. "You have to look at what the sustainable business is because the situation that is there right now is not sustainable," Barra said. In China specifically, GM sold 14% more vehicles in the third quarter than in the second.

Persons: Mary Barra, Barra, —, she's Organizations: EV, GM, Service, General, TechCrunch, European, BI, China EV, Benz Locations: China, San Francisco

☆ Exclusive: AI startup Attention just raised $14 million to bring its natural language processing tech to sales calls
▼ + stars: | 2024-10-22 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

AI startup Attention raised a $14 million Series A funding round from Alven, Eniac, and Frst. The startup uses AI and natural language processing to glean data and next steps from sales calls. AdvertisementNew York-based AI startup Attention, which uses natural language processing to fill out customer relationship management (CRM) programs and generate action items from sales calls, just raised a fresh round of funding. Late-stage startup Gong, which also records sales calls, raised $250 million in Series E funding in 2021 at a $7.25 billion valuation. And 11x.ai, which is building AI sales reps, raised a $50 million Series B last month from a16z, TechCrunch reported.

Persons: —, Anis Bennaceur, Matthias Wickenburg, Bennaceur, Wickenburg, Swipecast Organizations: Service, French VC, Eniac, Liquid2 Ventures, Ventures, TechCrunch Locations: Alven, New York, a16z

☆ The rise and fall of 23andMe
▼ + stars: | 2024-10-20 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

2024: Wojcicki responds to consumer concernsWojcicki said she would not consider "third-party takeover proposals." Steve Jennings/Getty Images for TechCrunchThe company's reputation took another hit in September when an SEC filing said Wojcicki "would be open to considering third-party takeover proposals." "Accordingly, in order to update my prior statement and avoid any confusion in the market, I am no longer open to considering third-party takeover proposals for the Issuer." The Atlantic reported that the sale of 23andMe could also mean the potential sale of user data. A 23andMe spokesperson told BI that Wojcicki "has publicly shared she intends to take the company private, and is not open to considering third-party takeover proposals."

Persons: Wojcicki, Steve Jennings, Wojcicki's, Anne Organizations: Getty, SEC, Electronic Frontier Foundation

☆ Chief, the networking group for executive women, has laid off staff
▼ + stars: | 2024-10-20 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Chief, a networking and growth organization for executive women, has cut staff. AdvertisementChief, a networking organization for women in executive positions, has cut staff across the company in a restructuring effort. Chief describes itself as the nation's largest network of senior executive women. In April 2023, Chief laid off 14% of its staff during what the founders called in an email to staff a "challenging macroeconomic environment," TechCrunch reported at the time. "Our vision remains the same — to build the most powerful network of executive women and maximize their leadership impact," the spokesperson said.

Persons: —, Carolyn Childers, Lindsay Kaplan, CapitalG Organizations: BI, Service, Business, TechCrunch Locations: London

☆ Exclusive: The cofounder of GroupMe and Splice is taking on the $180 billion supplement industry with new startup SuppCo
▼ + stars: | 2024-10-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +7 min

Steve Martocci, cofounder of GroupMe, Blade, and Splice, is back with a new consumer health app. His startup, SuppCo, helps people find trusted supplements and track their health progress. The startup, called SuppCo, just raised a $5.5 million seed round co-led by Union Square Ventures and True Ventures, and including BoxGroup and Compound. SuppCoBuilding consumer trustMartocci first started taking supplements after GroupMe sold to Skype, when he was struggling with his health and weight. He clarified that SuppCo will never sell its users' data, and won't rely on ad revenue or notch partnerships with supplement companies.

Persons: Steve Martocci, —, Martocci, he's, Martocci's, she'd, Nick Michlewicz, Bryan Johnson, Joe, Adam D'Augelli, GroupMe, SuppCo's, Michlewicz, SuppCo, Nick Michlewicz's, what's, Andy Weissman Organizations: Union Square Ventures, True Ventures, Service, East, TechCrunch, Skype, Square Ventures, Ventures, Food and Drug Administration Locations: New York

☆ AI labs are fragmenting because of ego clashes and commercial pressures. It's about to drive a wave of new startups.
▼ + stars: | 2024-10-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

There is an impending wave of new startups spinning out of larger AI labs, per Air Street Capital's State of AI report. AI labs are fragmenting due to ego clashes, philosophical disagreements, and commercial pressures. But as AI labs work towards the sector's holy grail, known as artificial general intelligence, those personalities have clashed — sometimes leading to a very public parting of ways. They are just some of the examples in a long line of AI labs that have fractured away from their juggernaut predecessors to form new startups. The exception would be if AI labs pivot toward building a niche model within a specific vertical, he said.

Persons: —, Ilya Sutskever, Andreessen Horowitz, StabilityAI's, H's cofounders, Sam Altman, Noel Hurley, they're, Nathan Benaich, Samir Kumar, Kumar, Peter J, Liu, Hurley, Benaich Organizations: Service, Sequoia, Black, Labs, TechCrunch, Accel, UiPath, NEA, Founders, Air Street Capital, Literal Labs, Touring Capital, Meta, Google Locations: Capital's, Paris, Sutskever

☆ 46-year-old CEO who runs 2 successful startups: This is my productivity 'cheat code'—it makes me 'much more efficient'
▼ + stars: | 2024-10-10 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Try working two at the same time. So how does Bansal manage to stay healthy and productive while running two fast-growing startups? "It's very ironic that people think, [because] I'm CEO of two companies, I should be the best at multitasking," Bansal says. The next 30 minutes, "I could be with our investors and board on something [at a] much higher business-level kind," he says. "The next 30 minutes, I could be in a customer conversation.

Persons: Jyoti Bansal, Bansal, TechCrunch, he's, that's, I'm, Jason Buechel, Goldman Sachs, Shekhinah Bass Organizations: Startup, Cisco, CNBC, Whole Foods

☆ 23andMe is floundering. Here is how to delete your data.
▼ + stars: | 2024-10-06 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +5 min

Here is how to delete your 23andMe data. A data breach notification filing in January said it took 23andMe five months to realize hackers had stolen the data. Here's how to ask 23andMe to delete your dataUsers who want their personal information removed from 23andMe can opt-out in the "23andMe Data" section in Account Settings. For users who participated in 23andMe Research, their genetic data and self-reported information won't be used in future research projects. "Deleting an account and associated data will permanently delete the data associated with all profiles within the account.

Persons: —, 23andMe, 23andMe's, Anne Wojcicki, Steve Jennings, Wojcicki, James Hazel Organizations: Service, 23andMe, Reuters, Company, Getty, Street Journal, SEC, Electronic Frontier Foundation, Research Locations: Crunchbase

☆ Adam Neumann's new startup is reworking WeWork's old business model
▼ + stars: | 2024-10-03 | by ( Grace Eliza Goodwin | Geoff Weiss | ) www.businessinsider.com time to read: +6 min

Workflow has a different business strategy than Neumann's previous company, Bloomberg reports. Neumann told the outlet that investors at Andreessen Horowitz will help keep him disciplined. Ben Bergman/BI"The lack of community and the disconnection that people feel is even more relevant today" than in the days of WeWork, Neumann told Bloomberg of Workflow. Neumann says he's learned his lessonCritics didn't just zero in on WeWork's business model but also on Neumann's management. We're really not sure that we know the answer, therefore we're taking our time," Neumann told Bloomberg.

Persons: Adam Neumann, Neumann, Andreessen Horowitz, —, WeWork, he's, WeWork's, Insider's Ben Bergman, Ben Bergman, Justin Sullivan, Ben Horowitz, Marc Andreessen, Andreessen, Noam Galai, TechCrunch Neumann, We're Organizations: Bloomberg, Service, Fort, Business, Flow, TechCrunch Locations: Fort Lauderdale, Miami, Atlanta, Nashville, Riyadh, Saudi Arabia, WeWork's

☆ Exclusive: Health startup Roon is raising $15 million from Sequoia to replace 'Dr. Google'
▼ + stars: | 2024-10-01 | by ( Sri Muppidi | Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Health startup Roon is raising $15 million at a $65 million pre-money valuation, BI has learned. AdvertisementHealth information site Roon is raising a new funding round, Business Insider has learned. Roon aims to replace "Dr. Google" with its website and app for consumers to ask their health questions and get expert answers. The company provides accessible medical information to users and partners with trained medical professionals to answer specific medical questions about users' health journeys. Related storiesToday, expert health information isn't always easy to find with a simple Google search.

Persons: —, Roon, Vikram Bhaskaran, Arun Ranganathan, Rohan Ramakrishna, OpenAI's, Bhaskaran Organizations: Service, Sequoia Capital, SV Angel, Union Square Ventures Locations: Sequoia

☆ Laurene Powell Jobs is betting on these 11 AI startups
▼ + stars: | 2024-09-30 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Laurene Powell Jobs speaks onstage during TechCrunch Disrupt SF 2017. News that Laurene Powell Jobs is investing in a new artificial intelligence "computing device" highlights her growing appetite for AI startups, according to fresh data. The Emerson Collective, Powell Jobs' family office, investment company and philanthropy, has invested in at least 11 AI-related startups since 2022, according to data provided exclusively to CNBC by Fintrx, the private wealth intelligence platform. According to Fintrx, the Emerson Collective has participated in AI funding rounds totaling more than $1 billion. A representative for the Emerson Collective declined to comment.

Persons: Laurene Powell Jobs, Steve Jennings, Robert Frank, Powell Jobs, Fintrx Organizations: TechCrunch, Getty, Emerson, CNBC, Fintrx Locations: New York, San Jose , California, French, Norwegian

☆ Mark Zuckerberg reveals his '20-year mistake'
▼ + stars: | 2024-09-13 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Read previewMark Zuckerberg is opening up about one of his biggest regrets from his two decades of running Facebook, now Meta. But Zuckerberg, with some newfound swagger and a new T-shirt he designed, kicked things off by saying he was done apologizing, TechCrunch reported. "And my guess is if the IPO was a year-and-a-half mistake, I think that the political miscalculation was a 20-year mistake." "Still not my best thing, but getting a bit more comfortable just being me as I get older." As the Facebook cofounder enters his 40s and reflects on his decades at the helm of Facebook, one thing is increasingly clear: Zuckerberg is in his unapologetic era.

Persons: —, Zuckerberg, wasn't, Casey, hasn't, Meta, Newton, — Zuckerberg, GOP Sen, Josh Hawley, He's, Elon Musk Organizations: Service, Chase Center, TechCrunch, Business, Facebook, Meta, GOP, Elon Locations: San Francisco, Newton, Myanmar, Cambridge

☆ The female 'founder mode' double standard
▼ + stars: | 2024-09-07 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +9 min

From the moment Paul Graham dropped his essay on "founder mode," people online analyzed it like a stone tablet found bearing the new commandment of startupdom. But there's one group that has been privately wrestling with "founder mode" since before it had a meme-able name: female founders. Four female founders told Business Insider that a stark double standard prevents them from operating their startups as their male counterparts do. Bumble founder Whitney Wolfe Herd wrote on Instagram that she was "in founder mode for 10 years and got attacked for it every single day." But unlike female founders, he and Neumann, the WeWork founder, enjoy the luxury of being given second chances by investors.

Persons: Paul Graham, Tobias Lütke, Baron Davis, Jessica Lessin, Tim Cook, Satya Nadella, that's, There's, they'll, Amanda E, J Morrison, Julie Products, Adam Neumann, Sophia Amoruso, it's, Whitney Wolfe Herd, Morrison, We've, they're, Clara Brenner, They're, she's, Julie, Christie Horvath, Wagmo's, Horvath, there's, Anna Barber, Barber, Jenny Fielding, Fielding, Elon, Sara Mauskopf, Slack, Musk, Mauskopf, Neumann, It's, Ty Haney, athleisure —, Haney, Graham's Organizations: Service, Founders, Spotify, Urban Innovation Fund, CVS, M13 Ventures, Ventures, TechCrunch

☆ For young, promising venture capitalists, the path to partner has suddenly become much steeper
▼ + stars: | 2024-08-26 | by ( Melia Russell | Sri Muppidi | ) www.businessinsider.com time to read: +8 min

Let's make a dealThere's no one way to get promoted in venture capital. Amanda "Robby" Robson became a partner at Cowboy Ventures at 29 years old, making her the youngest partner in the firm's history. Network your way to a promotionFundraising for venture firms has become increasingly competitive, with dollars concentrated into fewer legacy funds. Firms might be faster to hire or promote young investors who land deals in the desired category. The next day, the fund promoted him to senior associate and Brenner made it LinkedIn-official.

Persons: —, Dan Miller, Abigail Johnson, Michael Larsen, It's, Clara Brenner, Larsen, Amanda, Robby, Robson, Jill Chase, Chase, Miller, " Miller, Johnson, Jenieri Cyrus, Julie Lein, Brenner, Cyrus Organizations: Service, Business, True, Sapphire Ventures, Cambridge Associates, Urban Innovation Fund, Investors, Google, Cowboy Ventures, TechCrunch, intel, Urban, Northwestern Kellogg, LinkedIn Locations: Northwestern

☆ Wait, there's no way 31% of second graders are actually using X. Right?
▼ + stars: | 2024-08-23 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

But there was one statistic that made my head spin: 31% of 7- to 9-year-olds use the X (Twitter) app. Parents might be the ones actually using X — and Amazon ShoppingI reached out to Qustodio to ask how to interpret this bizarre number. I asked if perhaps this could be because a child was using a device that they shared with a grown-up. But the X app doesn't let you see tweets if you're not logged in, so it's not actually so easy to accidentally surf around. I don't think Qustodio just invented some fake numbers.

Persons: —, Linda Yaccarino, let's, Elon, you'd, Emily Lawrenson, Lawrenson, it's, It's, iPads, Qustodio, TechCrunch, there's Organizations: Service, YouTube, Business, Pew, Tech

☆ Venture capital's new reality check: 'A ton of people looking to get out everywhere'
▼ + stars: | 2024-08-09 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +12 min

PitchBook forecast in a May report that venture firms would raise less than $200 billion in 2024, a 48% drop from the industry's peak in 2021. "They may not see any carry dollars for a long time, maybe into full deployment to the next fund," the growth-stage principal said. AdvertisementBut this type of internal competition, including deal theft and sabotage, has always existed, the growth-stage principal added. 'A ton of people looking to get out everywhere'As the market continues to correct itself, more turnover is likely. "I know a ton of people looking to get out everywhere," the growth-stage principal said.

Persons: —, Michael Moritz, Combinator, they're, Will Champagne, it's, Ellis, Rebecca Zisser, VCs, Junior VCs, there's, Champagne, I'm, inbounds, I've Organizations: Service, Business, TechCrunch, Venture, Bay Area, Big Law, Kirkland, Haize Labs, Area, Junior

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

☆ OpenAI just lost 3 key leaders, report says
▼ + stars: | 2024-08-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewThree leaders at OpenAI have just left the company, according to a report by The Information, which cited a person familiar with the matter. Another cofounder, John Schulman, has left OpenAI to join rival AI firm Anthropic. "I've made the difficult decision to leave OpenAI. On X, OpenAI CEO and serial entrepreneur Sam Altman responded to Schulman's departure. Business Insider reported in May that two employees who worked on safety and governance had resigned in recent months.

Persons: —, Greg Brockman, Peter Deng, John Schulman, OpenAI, Brockman, Schulman, I've, Sam Altman, Deng, Jan Leike, OpenAI's, Leike, Ilya Sutskever, Daniel Kokotajlo, William Saunders Organizations: Service, Business, TechCrunch, Anthropic Locations: OpenAI, Anthropic

☆ The core crew that helped Sam Altman start OpenAI has dwindled from 10 to 2
▼ + stars: | 2024-08-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

"We're grateful for John's contributions as a founding team member at OpenAI and his dedicated efforts in advancing alignment research," OpenAI said in a statement to TechCrunch. (I first met John in a cafe in Berkeley in… — Sam Altman (@sama) August 6, 2024This makes Schulman the eighth cofounder who has left OpenAI since its founding in 2015. — Greg Brockman (@gdb) August 6, 2024Besides Schulman, OpenAI has seen multiple exits among its leadership ranks in recent months. In May, OpenAI co-founder and chief scientist Ilya Sutskever announced his resignation from the company. To be sure, not everyone has left OpenAI on such acrimonious terms.

Persons: —, John Schulman, Schulman, Altman, OpenAI, John, … — Sam Altman, — Altman, Wojciech Zaremba, Greg Brockman, Brockman, Ilya Sutskever, he'd, OpenAI's, Jan Leike, Leike, Elon Musk, Musk, Roboticist Trevor Blackwell, Vicki Cheung, Durk Kingma, Pamela Vagata, Andrej Karpathy, Karpathy, Tesla, OpenAI didn't Organizations: Service, Business, Superintelligence Inc, OpenAI, Microsoft, Google, ChatGPT, EV giant's, Business Insider Locations: OpenAI, Berkeley, …

☆ Why Silicon Valley Is Going to War Against the Media, Journalists
▼ + stars: | 2024-07-30 | by ( ) www.businessinsider.com time to read: +21 min

Just 20 years ago journalists covered the tech industry "like it didn't matter, like it was this hobbyist, interesting, plucky thing." The pro-tech media gives tech's main characters the chance to write their way back to the original storyline. Trae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Related storiesTrae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Of the members of the news media I talked to about pro-tech media, some were backhandedly laudatory.

Persons: Mike Solana, Solana, Peter Thiel, —, David Sacks, Jason Calacanis, Chamath Palihapitiya, David Friedberg, Elon Musk, Sam Altman, Tucker Carlson, Donald Trump, There's, Coogan, John Coogan, Andreessen Horowitz, Marc Andreessen, they're, Balaji Srinivasan, Mark Zuckerberg, Donald Trump's, Tyler Le, Sam Bankman, Warren Buffett, Trae Stephens, Andreessen, Palmer Luckey, It's, Dick Lucas, Lucas, Joe Rogan, Kamala, Stephens, Packy McCormick, Taylor Lorenz, Ryan Mac, Kevin Roose, Jesse Singal —, Casey Newton, Casey isn't, Casey, Newton, Erik Torenberg, Anthony Fauci, Ellen Pao, Katherine Maher, George Soros, Joe Biden, Chesa Boudin, Boudin, Gavin Newsom, Palihapitiya, Sacks, Trump, JD Vance, Brian Merchant, Ben Smith, Eric Newcomer, he's, Lulu Cheng Meservey, Balaji Srinivasan's, Zoë Bernard Organizations: Fund, Tech, Founders Fund, Apple, Elon, Elite, Sequoia Capital, Pirate, Penguin Group, Big Tech, Card Industry, Washington Post, TechCrunch, Media, NPR, Google, Disney, Twitter, Republican National Convention, Bloomberg, monetization, San, Business Locations: San Francisco, Substack, Silicon Valley, New York, Silicon, Solana, Miami, Francisco, California, Los Angeles

☆ Bankrupt EV start-up Fisker wants to sell its 3,300 unsold electric vehicles at an 80% discount to a company that rents cars to NYC Uber and Lyft drivers
▼ + stars: | 2024-07-05 | by ( Jack Newsham | ) www.businessinsider.com time to read: +3 min

The company wants to sell just under 3,300 Ocean electric SUVs to American Leasing, lawyers said at a Wednesday hearing reported by TechCrunch. This story is available exclusively to Business Insider subscribers. Even as it prepared to deliver vehicles last year, it was scavenging parts from the personal EVs of the company's CEO and its CFO, Business Insider reported last month. It said selling 200 of the vehicles to American Leasing on an abbreviated timeline would bring in crucial cash to make payroll next month. Some creditors, including people who previously bought Fisker vehicles, are worried that the company will run out of resources to pay its debts and support owners.

Persons: —, Uber, Fisker, Linda Richenderfer Organizations: Service, American Leasing, TechCrunch, Business, Street, US, Office, Justice Department Locations: New York

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