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6 mentions found


☆ US startups are having a bad year. Relief isn’t coming
  + stars: | 2023-07-18 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
Across the country, in Silicon Valley, the situation isn’t quite as good. For decades Silicon Valley has been a dominant contributor to the US economy and an integral part of the country’s culture. Bankruptcy filings…less so.”Pitchbook and The National Venture Capital Association’s most recent report on the industry also takes a pessimistic view of the situation. What it means: While startups are certainly far from extinct, there has been a serious culling in Silicon Valley that will likely continue on for some time. Just 19% of venture capital deals were made with startups based in the Bay Area this year; that’s down from 22% in 2020.
Persons: haven’t, Tom Loverro, IVP, Pitchbook, ”, dealmakers, Goldman Sachs, Morgan Stanley, they’ll, they’re, Elizabeth Warren, Tesla, Elon Musk, Ramishah Maruf, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, CNN’s Justin Gamble, Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Venture, National Venture Capital, Goldman, Center for Research, Bank, SEC, Twitter, Securities and Exchange, AmeriCorps, CNN Locations: New York, Silicon Valley, Silicon, Massachusetts, America
☆ Elizabeth Warren asks SEC to investigate Tesla
  + stars: | 2023-07-17 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
New York CNN —Democratic Senator Elizabeth Warren asked the SEC to investigate Tesla and its board of directors to determine whether they violated securities laws after CEO Elon Musk took over Twitter last year. Warren wrote that that disorder has spilled over into Musk’s management of one of the most influential electric car companies in the United States. “Tesla is publicly owned, and Mr. Musk and the Board have responsibilities to shareholders and the public in their management of the company,” Warren wrote. “These close relationships may explain the board’s persistent inability or unwillingness to address the concerns posed by Mr. Musk’s actions,” Warren wrote. Last December, the Democratic senator wrote Tesla shareholders may be hurt by its CEO’s ownership of Twitter in a letter to company chair Robyn Denholm.
Persons: Elizabeth Warren, Tesla, Elon Musk, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, Cathie Wood, “ Mr, Tesla’s, –, It’s, Robyn Denholm, missive Organizations: New, New York CNN, Democratic, SEC, Twitter, Securities and Exchange, Oppenheimer, Co, Wall, Audi, GM, Tesla, CNN Locations: New York, Massachusetts, United States
☆ Elon Musk says the US has been 'harmed' by having Elizabeth Warren as a senator after she wrote a scathing letter to Tesla's board
  + stars: | 2022-12-20 | by ( Beatrice Nolan | ) www.businessinsider.com   time to read: +2 min
Elon Musk has lashed out at Sen. Elizabeth Warren after she wrote a letter to Tesla's board. Musk said on Twitter that the US had been "harmed" by having Warren as a senator. Responding to a Twitter user who posted about the senator's letter, Musk said: "The United States has definitely been harmed by having her as a senator lol." On Sunday, Warren wrote to Tesla's board saying Musk's Twitter takeover had "raised questions about possible violations of securities or other laws." Instead, he responded to a Twitter user who said only Blue subscribers should be able to vote in policy related polls.
☆ Senator Warren, Tesla investor turn up heat over Musk's Twitter role
  + stars: | 2022-12-19 | by ( David Shepardson Hyunjoo Jin | David Shepardson | Hyunjoo Jin | ) www.reuters.com   time to read: +4 min
Investors have urged Musk to step down as Twitter CEO and punished Tesla stock, which is down nearly 60% this year and hit a fresh two-year low on Monday. On a Twitter poll from Musk on Sunday asking whether he should step down as Twitter CEO, 57.5% of 17.5 million people voted "yes." Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a big Tesla bull, said last week that he would run for Tesla board and had notified Tesla. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk had "abandoned Tesla and Tesla has no working CEO." "The whole situation is just weird, and weird is being kind," said Matthew Tuttle, CEO of Tuttle Capital Management.
☆ Sen. Warren warns Tesla board that Musk may have failed to meet his legal duties due to Twitter takeover
  + stars: | 2022-12-19 | by ( Lauren Feiner | ) www.cnbc.com   time to read: +4 min
Sen. Elizabeth Warren, D-Mass., wrote to the chair of Tesla's board Robyn Denholm expressing concern that CEO Elon Musk has failed to meet his legal duties since buying Twitter for $44 billion. "This use of Tesla employees raises obvious questions about whether Mr. Musk is appropriating resources from a publicly traded firm, Tesla, to benefit his own private company, Twitter," Warren wrote, adding that it could violate Musk's "legal duty of loyalty to Tesla." She also suggested the arrangements could violate legal requirements to make public employment agreements with executive officers, which Warren said Tesla has not done. Warren added that the debt Musk took on to buy Twitter could also create conflicts, like incentivizing him to have Tesla overpay for Twitter advertising to infuse it with cash. WATCH: Twitter is now Elon Musk's company — Here's how experts responded to the news
☆ Elizabeth Warren is concerned Elon Musk is treating Tesla like a 'plaything' amid his Twitter takeover
  + stars: | 2022-12-19 | by ( Grace Kay | ) www.businessinsider.com   time to read: +4 min
Sen. Elizabeth Warren wrote to Tesla's board, raising questions over Elon Musk's Twitter purchase. The senator told the board it must ensure Elon Musk does not treat Tesla as a "private plaything." Some Tesla investors have expressed concern that Twitter has become a distraction for Musk. Warren cited reports that Musk has brought in dozen of Tesla employees to assist in his Twitter takeover, saying it could violate the billionaire's "legal duty of loyalty to Tesla." Musk later took aim at Warren, calling her "Senator Karen" and saying she reminded him of a "friend's angry mom."
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