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A former Apple employee has been sentenced to three years in prison and over $30 million for a fraud scheme. Dhirendra Prasad pleaded guilty to the scheme last year and was sentenced earlier this week. Prasad and two others partook in schemes like double billing Apple for parts, defrauding the company of over $17 million. Charges of tax evasion and money laundering were dropped at his sentencing after he pleaded guilty in November. He is also required to pay another $8 million in forfeitures, along with $17.4 million in restitution to Apple and $1.8 million to the IRS, totaling just under $33 million in penalties.
Dhirendra Prasad, a former Apple employee who defrauded the company of more than $17 million, was sentenced to three years in federal prison and ordered to pay more than $19 million in restitution, federal prosecutors have announced. Prasad pleaded guilty to conspiracy to commit fraud and conspiracy to defraud the United States in 2022. Prasad, 55, worked at Apple from 2008 to 2018 as a buyer in the company's Global Service Supply Chain unit. Along with two other co-conspirators, who owned two companies that were Apple suppliers, Prasad conspired to double-bill Apple for parts it already owned or had purchased. "Prasad was given substantial discretion to make autonomous decisions to benefit his employer," federal prosecutors and Internal Revenue Service investigators said in a statement on Wednesday.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Gil Amelio, an entrepreneur who briefly served as the CEO of Apple Computer in the 1990s, is listing his home in Reno, Nev., for $10.75 million.
Apple has told teams that maintain its corporate retail group that they must apply for new roles. It signals another cost-cutting measure by Apple, which has so far stopped short of broad layoffs. Apple is cutting roles within its corporate retail division, telling staff they must reapply for jobs within the company or else they will be let go. Employees in Apple's Development and Preservation teams, which handle construction and maintenance of the company's retail stores, were told they must reapply for roles, according to a person familiar with the matter. Apple has so far stopped short of the layoffs, unlike Meta, Alphabet, and Amazon where tens of thousands of staff have so far been cut.
A union said five workers at Apple stores in two states were fired illegally. The Communications Workers of America union filed two Unfair Labor Practice charges. It was the first unfair labour practice charge filed by the CWA against Apple for alleged unlawful termination of workers for union organizing. No one working at Apple should be interrogated, intimidated, or silenced for trying to organize and win our fair share." It is unlawful for any companies to retaliate against workers for union activity, according to the NLRB.
Apple is reportedly planning to reveal its mixed reality goggles in June — its next major product. The iPhone company is reportedly planning to reveal the futuristic goggles, the company's first major new product since the Apple Watch, in three months at a June event. Executives at Apple have also reportedly questioned the headset's prospects to make a big splash at its initial release, per Bloomberg. The company has reportedly been working on the headset for seven years, and has missed deadlines in 2019 and 2022 for its planned release. Apple is reportedly working on a version that costs $1,500 — half of what the initial headset costs — that will come out within two years of the first launch.
Ex-Apple engineer John Burkey told NYT that voice assistant Siri may never be as robust as ChatGPT. Generative AI tools like ChatGPT threaten to make voice assistant tech obsolete. John Burkey, an ex-Apple engineer who was tasked to improve Siri in 2014 and left the company in 2016, said that Siri's clunky design makes it difficult to add new features. Burkey's views on Siri come as the wildly popular AI chatbot ChatGPT — which now runs on GPT-4, its most advanced language model yet — threatens to make voice assistant tech obsolete with its impressive capabilities. Siri users have even taken notice, expressing their frustrations on Reddit with questions like "Why is Siri so stupid" and "is Siri getting dumber each year."
At the time of the email, Musk was battling a cave rescue diver who was suing him for defamation. Before grabbing some ice cream — I'll probably get cookies and cream — let's dive into today's tech. The tech world was thrown into chaos as Silicon Valley lost faith in its go-to bank, SVB Financial. If startups are worried the bank can't give them all their money back, then they might pull their accounts. Investors are sinking millions into startups like MARZ and Runway to bring AI tech to film and TV.
At the time of the email, Musk was battling a cave rescue diver who was suing him for defamation. Before grabbing some ice cream — I'll probably get cookies and cream — let's dive into today's tech. The tech world was thrown into chaos as Silicon Valley lost faith in its go-to bank, SVB Financial. If startups are worried the bank can't give them all their money back, then they might pull their accounts. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.
Former Apple exec Michael Gartenberg has an iPad Pro and has owned various iPads over the past decade. His iPad used to be his constant travel companion, more used than his laptop — but not anymore. He says the iPad is at an intersection between failure and ongoing success, and Apple must pay attention. So iPad users, like myself, are paying a premium for hardware that is far more advanced than the software we are able to run on it. If Apple wants to continue to succeed with the iPad, it will need to address these challenges head-on.
A startup founded by former Apple Inc. executives unveiled a new investment round of $100 million and partnerships with OpenAI , creator of ChatGPT, as well as Microsoft Corp.Humane Inc., founded by Imran Chaudhri and Bethany Bongiorno , plans to launch a product this spring that incorporates artificial intelligence into a consumer device.
March 8 (Reuters) - Humane Inc, a startup founded by former Apple Inc (AAPL.O) employees, said on Wednesday it has raised $100 million and will release its first products this spring. Sam Altman, OpenAI's founder and a previous Humane investor, participated in funding round on Wednesday, the company said. Humane also said that Microsoft Corp (MSFT.O), which has built a massive cloud computing infrastructure specifically for AI, took part in the funding round. Humane said it will partner with Microsoft's cloud to bring Humane's software services platform to market. Reporting by Stephen Nellis in San Francisco Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
Apple backs new music startup
  + stars: | 2023-03-08 | by ( ) www.reuters.com   time to read: +1 min
March 8 (Reuters) - Apple Inc (AAPL.O) is backing a music startup launched by one of its former executives. The company, called Gamma, is the brainchild of former Apple Music Global Creative Director Larry Jackson and veteran music executive Ike Youssef. "The artists shaping today's culture not only create music, but also video, film, podcasts, fashion, and more," Jackson said in a statement Wednesday. It also plans to collaborate with Todd Boehly's Eldridge, whose investments include the Los Angeles Dodgers, which is a major backer. Reporting by Dawn Chmielewski in Los Angeles; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
Right now its roughly $5 billion-in-revenue ads business largely consists of search ads sold within the App Store. We asked more than a dozen advertising industry insiders and former Apple advertising staffers to identify the most important executives building Apple's advertising business. Teresi's ascent coincides with the explosive growth of Apple's ad business in recent years. A former Yahoo and Quantcast staffer, Crawford first joined Apple in 2011 to work on global operations for iAd. Lauren Fry - Apple TV+ ad salesApple hired Fry, a TV and video ad sales veteran, in February this year, The Information reported.
LARS MORAVY, VICE PRESIDENT, VEHICLE ENGINEERINGThe former Honda (7267.T) engineer joined Tesla in 2010. PETE BANNON, VICE PRESIDENT, HARDWARE ENGINEERINGThe former Apple engineer leads a team that creates the Full Self-Driving hardware. He has served as senior vice president for powertrain and energy engineering since October 2019. FRANZ VON HOLZHAUSEN, SENIOR DESIGN EXECUTIVEThe former director of design for Mazda North America joined Tesla in 2008. LAURIE SHELBY, VICE PRESIDENT, EHS&S (Environmental, Health, Safety, and Security)Shelby joined Tesla in 2017.
The firm's CEO, Nir Bar Dea, said in a memo that it would lay off employees and restructure. Bar Dea had been a rising star at Bridgewater, which has transitioned leadership in recent years. Former co-CEO Mark Bertolini is also stepping out of the role and returning to Bridgewater's board as an independent director, leaving Bar Dea as sole CEO. "Over time, we expect this platform to produce the next round of growth in the business," Bar Dea wrote. 'Finding a home'As far as high finance executives go, Bar Dea has an unexpected background.
Domatic's founders walked Insider through the pitch deck they used to raise seed capital. When smart home products began to take off in the early 2010's, Baldwin became obsessed with Nest cameras and security systems. "There's a parallel universe where I had gone to Nest," to help develop its products, Baldwin said. "This is sneaking the smart system into the building" through the wiring, Baldwin said. Wong and Baldwin walked Insider through the pitch deck they used to raise the round.
Feb 24 (Reuters) - Former Apple executive Trip Hawkins, who founded the company behind the best-selling sports videogame franchise "FIFA", is joining a Web3 startup, looking to take on top blockchain games like Axie Infinity. The founder of Electronic Arts (EA.O) will join as co-founder and security chief of Games for a Living (GFAL), Hawkins told Reuters in an interview. Interest for Web3 gaming has risen over the past year as it is touted to attract more cryptocurrency users. Hong Kong-based blockchain gaming developer Animoca Brands, which backs popular NFT game Axie Infinity, raised more than $500 million in 2022. "Web3 is the bridge to the metaverse," Hawkins said on Thursday.
Last year, the company hired several Google staff to do "instrumental" work on ChatGPT. Data from LeadGenius and Punks & Pinstripes shows that a number of the company's 200-plus employees came from Alphabet, the parent company of Google and AI research lab DeepMind. OpenAI currently employs about 59 ex-Google employees and about 34 former Meta staff, according to the data. Data from Lead Genius and Punks & Pinstripes shows ex-Google staff make up a large portion of the company's staff. The Information previously reported that OpenAI hired several Google employees to do "instrumental" work on ChatGPT in the months leading up to its November launch.
Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.
Washington CNN —Apple has illegally imposed rules on its employees that prohibit them from discussing their wages and engaging in other protected activity, according to investigators at the National Labor Relations Board. The findings by NLRB agents determined that “various work rules, handbook rules, and confidentiality rules at Apple” are unlawful because they “reasonably tend to interfere with, restrain, or coerce employees” who attempt to assert their labor rights, NLRB spokesperson Kayla Blado told CNN Tuesday. The NLRB does not have the power to impose penalties, but can force employers to implement “make-whole remedies,” according to its website. According to Bloomberg, the cases in question were brought by two former Apple employees, one of whom cited an email from CEO Tim Cook vowing to crack down on information leaks at the company. Apple pushed back at those claims in a filing with the NLRB.
A federal agency said it found evidence that Apple executives and company policy broke labor laws. The decision stems from cases filed by former employees who say Apple violated their rights. The NLRB will prosecute if Apple doesn't settle with former employees who have raised complaints. The federal agency confirmed to Insider that it found merit that charges concerning statements by high-level executives at Apple, as well as company policies, violated the National Labor Relations Act. According to Bloomberg, the federal agency's assessment stemmed from cases brought by two former Apple employees, Ashley Gjovik and Cher Scarlett.
Tesla staged a video showing its self-driving capability, according to a company engineer's testimony. Tesla's director of Autopilot software, Ashok Elluswamy, revealed the information in a deposition in July 2022. Tesla has come under increasing scrutiny recently for its self-driving technology. Musk, however, posted that video on Twitter in 2016 as evidence that Tesla could drive itself. In footage that didn't make it into the final video, according to TechCrunch, the test car crashed into a fence in Tesla's parking lot, Elluswamy said in his deposition, according to Reuters.
A Tesla engineer said a car crashed into a fence while filming a video promoting self-driving, Reuters reported. Elon Musk promoted the 2016 video as an example of a Tesla "driving itself" at the time. The engineer said that the car crashed into the fence while trying to park itself. In 2016, the electric-car maker announced its Full Self-Driving (FSD) software as an enhancement to Autopilot using the video "Full Self-Driving Hardware on All Teslas" to promote its capabilities. The National Highway Traffic Safety Administration is investigating Autopilot and its potential connection to several accidents.
The previously unreported testimony by Elluswamy represents the first time a Tesla employee has confirmed and detailed how the video was produced. The car is driving itself.”Elluswamy said Tesla’s Autopilot team set out to engineer and record a “demonstration of the system’s capabilities” at the request of Musk. It was to portray what was possible to build into the system,” Elluswamy said, according to a transcript of his testimony seen by Reuters. When asked if the 2016 video showed the performance of the Tesla Autopilot system available in a production car at the time, Elluswamy said, "It does not." Elluswamy said drivers could “fool the system,” making a Tesla system believe that they were paying attention based on feedback from the steering wheel when they were not.
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