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The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital. "GM agreed to let us collect the ground truth data in their factories," Foundation said in the document. "GM has never invested in Foundation Robotics and has no plans to do so," spokesman Darryll Harrison said in an emailed statement. The contents of the document were confirmed by someone with direct knowledge of Tribe Capital. Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment.

Persons: General Motors —, Darryll Harrison, cofounders, Mike LeBlanc, LeBlanc, Sankaet Pathak, Arjun Sethi, Sethi, Pathak Organizations: Synapse, General Motors, Robotics Labs, CNBC, GM, Menlo, Tribe, Foundation, Foundation Robotics, Robotics, New Foundation Foundation, Cobalt Robotics, McKinsey, Tribe Capital Locations: Mexico

☆ Elon Musk dropped his Open AI lawsuit, but he isn't done with Sam Altman and the AI race yet
▼ + stars: | 2024-06-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewElon Musk might have withdrawn his lawsuit against OpenAI and its cofounders on Tuesday, but he certainly isn't giving up on winning the AI race just yet. Musk cofounded OpenAI with its current CEO, Sam Altman, but left its board in 2018. Shortly after the announcement, Musk threatened to prohibit Apple devices at his companies. "If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies," Musk wrote in an X post. Related storiesRepresentatives for Musk and OpenAI did not immediately respond to requests for comment from BI sent outside regular business hours.

Persons: —, Elon, OpenAI, Musk, Sam Altman, Altman, David Hoffman, BI's Grace Kay, Tesla, it's Organizations: Service, OpenAI, Microsoft, Business, Apple, Musk, BI, University of Pennsylvania, Tesla Locations: Altman's court

☆ Elon Musk drops lawsuit against Sam Altman and OpenAI
▼ + stars: | 2024-06-11 | by ( Erin Snodgrass | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

Elon Musk withdrew his lawsuit against OpenAI and two of its cofounders this week. The Tesla CEO sued the AI startup in March, alleging the company had abandoned its nonprofit mission. Musk cofounded OpenAI along with Sam Altman and Greg Brockman in 2015. AdvertisementElon Musk dropped his lawsuit against OpenAI and two of its cofounders, Sam Altman and Greg Brockman, on Tuesday, CNBC reported. Musk sued the hotshot startup and two of its co-founders in March, accusing Altman and Brockman of betraying OpenAI's initial mission to benefit humanity.

Persons: Elon Musk, OpenAI, Musk, Sam Altman, Greg Brockman, —, Tesla, Altman, Brockman, OpenAI's Organizations: Service, CNBC, Wednesday, Business Locations: San Francisco

☆ Starbucks' Howard Schultz talks Steve Jobs screaming at him and wishing he'd trademarked the latte in a new podcast
▼ + stars: | 2024-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +10 min

Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.

Persons: —, Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan

☆ 2 former Instagram staffers left their jobs to create a new social-media app that's grabbed the tech world's attention
▼ + stars: | 2024-05-31 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Advertisement"We always have loved this idea of a super simple product that's really just for you and your friends," Sharp told BI. "There's not any real public discovery surface inside of Retro," Sharp said. Advertisement"What's most important to us is that we build a sustainable business, whether that's venture scale or not," Sharp said. "You can complete your feed in Retro," Olson said. Courtesy of Retro"There are a few places where we've chosen comfort over — or perhaps to the detriment of — the growth of the product or the business," Olson said.

Persons: —, Nathan Sharp, Sharp, Ryan Olson, Olson, that's, Mike Krieger, Kevin Systrom, Sam Lessin, A16z's Andrew Chen, Adam Mosseri, Retro's, It's, Olson didn't, you'd, Marissa Mayer's Organizations: Service, Retro, Business, Lone Palm Labs, Retro's, Facebook, Meta, Instagram Labs Locations: Silicon

☆ A wave of AI 'acquihires' is coming. Here's who could be looking for deals.
▼ + stars: | 2024-05-30 | by ( Rebecca Torrence | Riddhi Kanetkar | ) www.businessinsider.com time to read: +8 min

But the tech giant's play underscores the market's demand for tech talent — and venture capitalists expect a wave of "acquihires" to hit the AI ecosystem later this year. M&A dealmaking among AI startups is already off to a strong start this year, with 55 exits recorded in Q1 of 2024, per Crunchbase data. AdvertisementThe majority of AI startups are overpriced, said Konstantin Vinogradov, general partner at Runa Capital. AI startups with revenue in the single-digit millions that raised money at unicorn valuations, Dash said, might not even have that option. Those deals don't make sense for buyers, he said, which could lead Big Tech companies or other AI startups to poach their talent instead.

Persons: —, Inflection's, Ayangar, Konstantin Vinogradov, Somesh Dash, overshadowing, Shmuel Chafets, Sivesh Sivakumar, Shaun Johnson, Naveen Rao, Sivakumar, Johnson, PhotoRoom, Aravind Srinivas, Mike Smeed, Chafets, Dash, they'll Organizations: Service, Microsoft, Business, Investors, Runa, Big Tech, Apple, Target, Ventures, Accenture, Boston Consulting Group, Intuit, Nike, American Express, Safeway, InMotion Ventures, Disney, Netflix Locations: OpenOcean, Snowflake, Databricks

☆ Here's the 22-slide pitch deck that got Atropos Health $33 million for its generative AI bot for doctors
▼ + stars: | 2024-05-28 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

A new generative AI tool can create those studies in minutes. That directive informed Atropos' development of ChatRWD, which Atropos Health launched in beta form in October to 75 customers. Atropos says it's the first generative AI tool to create publication-grade studies from clinical data in minutes. AdvertisementAtropos' $33 million Series B funding follows Atropos' $14 million Series A in August 2022, bringing the company's total funding to $54 million. See the 22-slide pitch deck Atropos Health used to raise $33 million in Series B funding.

Persons: —, Brigham Hyde, Valtruis, Jim Breyer's Breyer, Laurene Powell Jobs, Nigam Shah, Saurabh, Hyde, Atropos, Green Button, Green, Johnson, Johnson's Janssen Organizations: Service, Business, Atropos, Cencora Ventures, McKesson Ventures, Merck GHI Fund, Presidio Ventures, Stanford University, National Institutes of Health, Atropos Health, pharma Locations: Geneva, Arcadia

☆ Pro League Network raised $2.2 million to bring gambling to obscure sports like CarJitsu and slapfighting. Read its 20-page pitch deck.
▼ + stars: | 2024-05-27 | by ( Ashley Rodriguez | Tiara White | ) www.businessinsider.com time to read: +4 min

Read previewPro League Network has raised $2.2 million to commercialize niche sports like slapfighting, CarJitsu, and streetball, and allow people to bet on them. This story is available exclusively to Business Insider subscribers. Advertisement"We're solving a problem," Yucatonis told Business Insider. "The portfolio appeals to them because they're placing a bet on different properties," Salvaris said. Business Insider has viewed the full version.

Persons: —, Mike Salvaris, Bill Yucatonis, Yucatonis, Roger Ehrenberg, Chris Grove, Kevin Garnett, Salvaris, PLN, it's Organizations: Service, League, Business Locations: Missouri, East

☆ Neighborhoods have really dumb names these days
▼ + stars: | 2024-05-26 | by ( Matt Turner | Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This was after Sam Altman tried to hire her to voice the AI bot, and she declined. OpenAI paused the voice, saying a different actress was behind it, and that the voice was cast before Altman reached out to Johansson. That one of the AI voices sounds a great deal like a Hollywood star who declined to work with OpenAI is purely coincidental . Also read:Fine Art Photographic/Getty Images; Jenny Chang-Rodriguez/BIWelcome to DumBroCities on the rise have a weird trend these days: Really dumb neighborhood names.

Persons: —, Andrew Caballero, Reynolds, Isabel Fernandez, OpenAI's, Spike Jonze, Scarlett Johansson, Samantha, Sam Altman, OpenAI, Altman, Johansson, Sundar Pichai, Vincent Sandoval, Getty, Henrik Sorensen, Tyler Le, Larry Ellison, it's, Tera Vector, Juanma Hache, Abanti Chowdhury, they're, Andrea Chronopoulos, — isn't, Jenny Chang, Rodriguez, — Lindsay MacMillan, Goldman Sachs Organizations: Service, Business, Pujol, Hollywood, Tera, Sciences, BI FI, Goldman Locations: Guadalajara, Mexico, DumBro Cities, Denver

☆ Emory students won a $10,000 prize for their AI tool. Then the university punished them.
▼ + stars: | 2024-05-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

Read previewEmory University students created an artificial intelligence-driven study tool last year. The business school highlighted them on social media. Emory said the duo violated the school's honor code, because students could use Eightball in ways that would breach it. But in October, Emory told the developer that he may have violated the honor code, per Craver's lawsuit. In November, Emory told Craver that it was weighing five honor code violations for him.

Persons: —, they'd, Emory, Benjamin Craver, haven't, cofounders, Craver, Ben Organizations: Service, Emory University, Business, Emory, Student Locations: Spanish

☆ It's shaping up to be a tough summer for the stock market, but Nvidia could help salvage things
▼ + stars: | 2024-05-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we examine how this summer is shaping up to be tough for the stock market . Stocks are on track to either remain flat or turn negative going forward , according to two market vets Jennifer spoke to. The pessimism about stocks' future is due to a few factors. Some Nvidia employees are considered to be millionaires SOPA ImagesThere is, however, one company that could salvage things: Nvidia. As the key chipmaker in the space, a win for Nvidia is a win for everyone betting on AI being the future.

Persons: —, Jenny Chang, Rodriguez, Jennifer Sor, Stocks, Jennifer, It's, Jerome Powell, BI's Linette Lopez, Warren Buffett Scott Morgan, Warren, Berkshire Hathaway, Goldman Sachs, Michael Burry, John Paulson, Alyssa Powell, Gen Zers, Instagram, Vincent Sandoval, Getty, Henrik Sorensen, Tyler Le, Larry Ellison, it's, aren't, Cash, Bill Lee, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, New York Knicks, NBA, Business, Getty, Fidelity, Hamptons, Nvidia, Reuters, Berkshire, JPMorgan, Meta, Sciences, Apple, The Locations: Montauk, Berkshire, New York, London

☆ Robots and AI are being used to help women get pregnant. Is this the future of IVF?
▼ + stars: | 2024-05-18 | by ( Blake Dodge | ) www.businessinsider.com time to read: +21 min

There, a startup called Conceivable Life Sciences is automating the IVF lab from start to finish. Conceivable Life SciencesEleven women so far have become pregnant with help from one or more of these Conceivable robots. Conceivable Life Sciences"No baby, no fee"Today, IVF demand is surging, despite the treatment being slow, uncertain, and expensive. Conceivable's future IVF lab. Conceivable Life SciencesFrom prayer to AIHalf a continent away, a physician was growing frustrated by the constraints of his job.

Persons: —, robotically, embryologist Jacques Cohen, Cohen, Joshua Abram, Conceivable's, Abram, Lora Shahine, Emma wasn't, Emma, Alan Murray, Murray, — embryologists, that's, Alejandro Chávez, Badiola, REI, didn't, Conceivable's cofounders, Dr, REIs, What's, Langham, Conceivable's cofounders tinker, Tesla, Brian Bixon, Gerardo Mendizabal, Ruiz, Bixon, Carla Patricia Barragan Álvarez, OBGYNs, aren't, Eduardo Hariton, Hariton Organizations: Service, Business, Sciences, BI, New York City, pipettes, Life Sciences, San, Langham Hotel, Quest Diagnostics Locations: Guadalajara, Mexico, New York, Seattle, pipettes, Petri, San Francisco, London, Abram, Mexico City

☆ 'MoviePass, MovieCrash' showcases the catastrophic behind-the-scenes story of the movie-ticket subscription app
▼ + stars: | 2024-05-16 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +1 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe upcoming HBO documentary, "MoviePass, MovieCrash" chronicles the meteoric rise and fall of the movie-ticket subscription company MoviePass. This story is available exclusively to Business Insider subscribers. (Both Lowe and Farnsworth were charged with securities fraud in 2022 and are awaiting trial.) "MoviePass, MovieCrash" is produced by Assemble Media and Mark Wahlberg's Unrealistic Ideas ("McMillions").

Persons: —, MoviePass, Stacy Spikes, Spikes, Hamet Watt, Mitch Lowe, Ted Farnsworth, Lowe, Farnsworth, Mark Wahlberg's Organizations: Service, HBO, Netflix, Business, Helios, Matheson Analytics, Media

☆ An AI-powered adtech startup wants to automate the busy work in ad operations. Read the pitch deck it used to raise $3 million.
▼ + stars: | 2024-05-16 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Thousands of ad operations professionals log in daily to several different adtech platforms, setting campaigns live, tinkering with budgets and targeting, and producing reports. AdvertisementThe no-code platform allows users to use natural-language prompts to configure different "autopilots" across the various platforms they use. An ad-operations professional at a streaming company might use PilotDesk to automate tasks related to managing orders, campaign tracking, and post-campaign reporting. Check out the key slides from the pitch deck that helped PilotDesk secure $3 million in seed funding.

Persons: —, PilotDesk, Joe Hirsch, Hirsch, Phil Herget, Herget Organizations: Service, Business, Google, Labor, Ardent Venture Partners, Roster Capital, Ardent

But while the company's profile in the industry has stayed constant and swaggering, behind the curtain, its business has been increasingly troubled, 10 insiders told Business Insider. Creator economy professionals mingled beneath glowing jellyfish and coral light fixtures inside Jellysmack's creator lounge during VidCon 2023. "As a startup in the ever-evolving creator economy, we are constantly testing and adapting our business model," the Jellysmack spokesperson told BI in a statement. Advertisement"The world was falling apart with the pandemic, but early Jellysmack felt like a dream," the second former staffer told BI. BI viewed two Jellysmack contracts and an email exchange between Jellysmack and one of its creator clients to verify the practice.

Persons: —, SoftBank, lanyards, Jellymack, Jellysmack, YouTubers, Brad Mondo, Meta, Michael Philippe, Jellysmack cofounders Swann Maizil, Robin Sabban, Nathan Guetta, Condé Nast, Youri Hazanov, Sean Atkins, hasn't, Snapchat —, Amanda Perelli, JellyFi, deprioritize, that's, it's, Ollie Forsyth, They've Organizations: Service, Business, Facebook, influencers, BI, YouTube, Disney, Comcast, Keli, Big Tech, cryptocurrency, MTV, HBO, Copyright Capital, SoftBank, Productions, OKA Media, Network Media LLC, Crime, Star, Spotify, Crime Network Locations: VidCon, SoftBank

☆ A new crop of startups wants to help solve loneliness among millennials and Gen Z. Here's how they're connecting strangers and making money.
▼ + stars: | 2024-05-10 | by ( Lauren Johnson | Sydney Bradley | ) www.businessinsider.com time to read: +10 min

Plus, the pandemic and the shift to working from home have made millennials and Gen Z lonelier than ever, thanks in part to doomscrolling. "I believe the conventional 'make friends' apps too closely mimic the dating model, which can feel awkward and high-pressure for making friends," he said. The group hosts "reading parties" at bars and event spaces with the goal of helping people connect through reading. Dinner With Friends, a group that throws dinner parties, has worked on sponsored events with brands like Bumble and Geneva. Dinner With Friends founder Anita Michaud said brands typically either sponsor entire dinners or provide products — like canned cocktails — for the dinner parties.

Persons: —, they've, Danial Hashemi, Sydney, Z, millennials, Cliff Lerner, Lisa Oreshkina, Saneblidze, Tom Worchester, Andreessen Horowitz, Victor Pontis, Luma, Liz Chick, Gen, Mira Hobbs, ReCreate's Chick, Anita Michaud, Peter Boyce II, Boyce, Maitree Mervana Parekh, Marlon Nichols, they're, it's, Ben Bradbury Organizations: Service, Business, Sydney Bradley, Big Tech, Tech, Timeleft, Reading, Facebook, VC, Wine, Bumble, New, Acrew, MaC Venture, Reading Rhythms Locations: New York City, Los Angeles, New York, Brooklyn, Squarespace, Lisbon, Amsterdam, London, San Francisco, Geneva

☆ I'm a Palestinian startup founder. I wanted to do my part for my home country, but now we have to leave.
▼ + stars: | 2024-05-03 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +9 min

The Palestinian startup sceneOur business is based in Ramallah, where Raya lives. If starting a company in Ramallah could benefit the community by creating jobs and further building on the small startup scene there, we wanted to try. When "The Middle Frame" goes through a hard time in the future, we can look back at that screenshot. In the future, when our business is stable in a different market, we could maybe have a smaller operation in the Palestinian market. The Palestinian startup ecosystem needs more examples of successful startups in the wider region to support the startups in Palestine and more investment bodies to support the early-stage startups.

Persons: Mohammad Alnobani, Alnobani, —, We'd, Raya, creatives, We're, I'd, I've, We've, Raya's, we've, it's Organizations: West Bank, Hamas, Service, Young, Palestine, Israel, Getty, UAE Locations: Gaza, Alnobani, Ramallah, Palestinian Territories, Amman, Jordan, Jerusalem, Belfast, Palestinian, Israel, Saudi Arabia, Nablus, Qatar, London, Boston, East, North Africa, it's, Egypt, Europe, Ramallah —, Dubai, Jordanian, Iran, UAE, Palestine

☆ Email startup Beehiiv just raised $33 million to build a big ad business and differentiate itself from rival Substack
▼ + stars: | 2024-05-02 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The firm closed a $33 million round of Series B funding, with the bulk of the money going toward building out its advertising business, CEO Tyler Denk told Business Insider. With the new round of funding, Beehiiv hopes to make $5 million from ads in 2024, he said. AdvertisementBeehiiv acquired the email ad platform Swapstack and launched its ad network that places ads in newsletters during the third quarter of 2023. Beehiiv's Denk said that Beehiiv has a "difference in philosophy" on ads than Substack does.

Persons: —, Tyler Denk, Beehiiv, Denk, Boston Globe Media's, Beehiiv's cofounders, Substack, Jesse Singal, Beehiiv's Denk Organizations: Service, Business, NEA, Sapphire, Lightspeed Venture Partners, Boston Globe, Morning, Netflix

☆ Elon Musk had a 'hilarious' way of asking if an ex-Twitter exec wanted to work for him
▼ + stars: | 2024-04-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elon Musk had a strange way of phrasing a job offer to a former Twitter exec. Beykpour said Musk asked if he wanted to "swipe right" and "hang out and work on the product." During one of their conversations, Musk asked if Beykpour would be interested in continuing to work on product at Twitter. Musk asked Beykpour to "swipe right on whether you want to be here," the Periscope cofounder said. He used the swipe right, swipe left Tinder metaphor and I thought that was kind of hilarious coming from him," Beykpour said.

Persons: Elon Musk, Kayvon Beykpour, Musk's, Beykpour, Musk, —, Parag Agrawal, Elon Musk's, Getty, Noam Galai Beykpour, Walter Isaacson, Isaacson, Elon, I'm, I've Organizations: Twitter, Service Locations: Elon

☆ 6 psychological mistakes business leaders make, including 'crossing the net'
▼ + stars: | 2024-04-29 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

Dr. Matthew JonesMost of Jones' clients work in tech and often deal with fast-paced work environments and uncertainty. AdvertisementJones shared six of the biggest communication mistakes he's seen business leaders and cofounders make — from how they address conflict to ignoring it until it's too late. They only understand business languageJones said there are three types of languages that all business teams speak: operational, psychological, and archetypal. They don't check in enoughJones said that when business leaders don't normalize listening and giving feedback, it can create rifts between them over time. AdvertisementUnfortunately, that represents the smallest percentage of his business clients; the vast majority "are currently experiencing varying degrees of conflict," he said.

Persons: —, Matthew Jones, Dr, Jones, cofounders, it's Organizations: Service, Business, Stanford

☆ I quit a comfortable tech job to launch a startup. I had to sacrifice a lot, but now I make $400,000 and travel all the time.
▼ + stars: | 2024-04-29 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +1 min

Gene Caballero left his stable job at Dell to cofound GreenPal, an on-demand lawn care service. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThis as-told-to essay is based on a conversation with Gene Caballero, a 44-year-old cofounder of GreenPal, based in Nashville. I'm a cofounder of GreenPal, a platform that connects homeowners with lawn care professionals. After purchasing my first home, finding reliable lawn care for myself and my mom was a daunting task.

Persons: Gene Caballero, —, It's, Uber, Airbnb, Bryan Clayton's Organizations: Dell, Service, Business Locations: Nashville, West

☆ Mint Butterfield, teen whose dad cofounded Slack and mom cofounded Flickr, found safe, police say
▼ + stars: | 2024-04-28 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Mint Butterfield, whose parents are major tech founders, was found safe, police said. Butterfield's parents cofounded Flickr, and their father later cofounded Slack. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Their parents, Caterina Fake and Stewart Butterfield, cofounded Flickr in 2004, and Stewart Butterfield went on to confound Slack.

Persons: Butterfield, Slack, —, Sunday . Mint Butterfield, Caterina Fake, Stewart Butterfield, confound Slack, Butterfield's, Jyri Organizations: Flickr, Service, Sunday . Mint, San Francisco Police, Business Locations: California, Bolinas

☆ 2 founders of a crypto mixer charged with laundering funds from the dark web
▼ + stars: | 2024-04-25 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

The cofounders of crypto mixer Samourai Wallet were charged with money laundering. The service anonymized hundreds of millions of dollars for dark web criminals, prosecutors said. AdvertisementThe cofounders of a cryptocurrency mixing service called Samourai Wallet — which rendered crypto transactions anonymous — have been arrested and charged with money laundering, according to an indictment unsealed Wednesday. Rodriguez and Hill were charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. Related storiesThe Samourai Wallet website has been seized.

Persons: Samourai's cofounders, —, — Keonne Rodriguez, William Lonergan Hill —, Rodriguez, Hill, James Smith, haven't Organizations: Service, Prosecutors, Southern, of, FBI Locations: of New York, Portugal, DMs

☆ A 32-year-old who started selling T-shirts in college with $500 upfront shares the 4 strategies he used to build a seven-figure online business from scratch
▼ + stars: | 2024-04-17 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Karthik Shanadi and Luke McGurrin did just that — and they started their brand, Greek House, out of their fraternity house with a slim $500 budget. Since launching Greek House in 2013, the cofounders have added three more apparel brands. Courtesy of Karthik ShanadiIt helped that Shanadi and McGurrin eventually expanded into what he considers a "high barrier niche": licensed merchandise. In 2016, about three years after starting Greek House, they received a notice from a licensing agency.

Persons: —, Karthik Shanadi, Luke McGurrin, Shanadi, McGurrin, Brian Chesky, Threadly, that's, We're Organizations: Service, Business, University of Florida Locations: Portugal, Philippines, India

General Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said Tuesday. Cruise said its "goal is to resume driverless operations," however it did not provide a timeline for doing so. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims. Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market, where the majority of its vehicles operated. In addition to the ceasing of operations, Cruise leadership has been gutted: Its cofounders, including CEO and cofounder Kyle Vogt, resigned and nine other leaders were ousted.

Persons: Cruise, We've, Kyle Vogt Organizations: Motors, GM, Cruise, California DMV, California Public Utilities Commission, Traffic Safety Administration, U.S . Department of Justice, U.S . Securities, Exchange Commission Locations: Phoenix, San Francisco, California

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