For about 18 months, between mid-2021 and early 2023, I may have been one of Silicon Valley’s youngest—and poorest—angel investors. How? By passing the test to become a licensed investment adviser, then registering my own advisory firm. This allowed me to bypass the longstanding rule that only the wealthy—people with a net worth of at least $1 million or an annual income of more than $200,000—could invest in startups. Through... Read more ›
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Comcast is considering spinning off its cable channels into a new company owned by its existing shareholders, Comcast president Michael Cavanagh said on Thursday, in a sign of how the decline of the cable universe is prompting big entertainment companies to rethink their business ... Read more ›
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Sequoia partner Shaun Maguire has risen to prominence over the past year for his friendship with Elon Musk, which has helped the firm get in on highly-coveted rounds in SpaceX and X. Through X, Sequoia also stands to get a stake in xAI, Musk’s artificial intelligence lab. Maguire’s latest bet is on Decart, a startup that one day hopes to compete with xAI, as well as other firms developing large... Read more ›
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DoorDash struck a marketing partnership with Lyft, under which customers of both services can get discounts, a sign that both companies are trying to improve their ability to compete with Uber which owns both a ride-hailing and a restaurant food delivery service. The announcement coincided with ... Read more ›
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Uber lifted revenue 20% to $11.2 billion in the third quarter, as higher advertising revenues in its Uber Eats delivery service offset weakening gross bookings on its ride-hailing operation. Uber forecast a slightly higher rate of growth in its gross bookings in the fourth quarter. The ... Read more ›
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Will Microsoft, Google and Meta's outsize investments in artificial intelligence produce outsize profits? Perhaps, but shareholders realized this week they'll have to wait longer to find out. September quarter reports from several big tech companies showed that while their business and consumer customers spent more on conversational AI services such as ChatGPT in the third quarter, it's far from going gangbusters. And what growth is being achieved may be offset... Read more ›
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Peloton Interactive has appointed a former Apple and Time Warner Cable executive, Peter Stern, as its new CEO, effective Jan. 1. Stern succeeds Barry McCarthy, who stepped down in May after two year stint at the fitness firm. Stern has long experience in subscription businesses, which is now ... Read more ›
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Danger, danger! That’s the message Wall Street sent Meta Platforms tonight, as investors sold off shares in the company in the wake of its predictably healthy third-quarter earnings result. They perhaps weren’t thrilled that Meta plans to lift capital expenditures significantly again next year, on top of a projected increase this year of as much as 43%.Meta’s habit of spending tens of billions on unproven new technologies has been a... Read more ›
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Online retailers are battling the rise of “refund groups” that carry out scams on a large scale, often coordinating through apps like Telegram, as I reported this morning. One of the most interesting aspects of this trend is how fraudsters, rather than trying to keep scams under wraps, are eager to broadcast them online. So how did we get here? To start, personal finance “finfluencers” and other creators often gain... Read more ›
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Google paid artificial intelligence startup Character.AI $2.7 billion in cash as part of a deal to license the startup’s technology and hire its co-founders and employees, including former Google researchers Noam Shazeer and Daniel De Freitas, the company said in a regulatory filing. The payout ... Read more ›
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Cryptocurrency exchange Coinbase reported its fourth straight quarterly profit and announced a stock buyback of up to $1 billion, showing the company is delivering on its promise of steadier profits even during crypto market swings. Revenue rose nearly 80% to $1.2 billion year-on-year in ... Read more ›
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Microsoft said Wednesday its revenue rose 16% to $65.6 billion in the third quarter—1 percentage point higher than in the second quarter—as its Azure cloud computing unit grew at the same rate as the previous quarter. Azure revenue rose 33% year over year, which CEO Satya Nadella attributed to “ ... Read more ›
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Volvo Wednesday said it had taken ownership of a joint venture with troubled battery maker Northvolt because Northvolt had not made promised payments to fund the joint venture, in the latest sign of Northvolt’s distress. The joint venture had planned to build a battery factory in Gothenburg, ... Read more ›
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Super Micro shares fell 33% to just over $33 after the company, which makes servers for data centers, said accounting firm Ernst & Young had resigned as its auditor over concerns about its accounting practices. Demand for the Nvidia artificial intelligence chips that power Super Micro’s ... Read more ›
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Crypto exchange Kraken said in a blog post Wednesday that it’s cutting an unspecified number of jobs to reduce organizational layers, even as it’s grown to generate “north of” $1 billion in net revenue. Kraken also announced that Arjun Sethi, co-founder of Tribe Capital and a Kraken board ... Read more ›
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Meta Platforms, the owner of Facebook, Instagram and WhatsApp, on Wednesday reported third-quarter revenue of $40.6 billion, up 19% from a year earlier. Growth slowed from the second quarter, when Meta posted annual revenue growth of 22%. The company again increased its estimate for capital ... Read more ›
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Elon Musk’s artificial intelligence startup xAI has discussed raising $5 billion from investors at a valuation of about $45 billion, according to a person familiar with the discussions. Investors are expected to include a mix of returning backers, including Valor Equity Partners. Existing investors Sequoia Capital, Andreessen Horowitz and Vy Capital are also in talks to invest, according to a second person, who has invested in xAI. Another investor that... Read more ›
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Shares of Reddit were trading up 42% to around $116 a share on Wednesday, as investors applauded the social media firm’s strong third quarter earnings report. Reddit shares have now risen 241% since its IPO in March. The company reported 68% higher revenues, and its first-ever net profit, ... Read more ›
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Dropbox and Miro said Wednesday that each would lay off around a fifth of its employees, signs that enterprise-focused software businesses are still contending with weak demand. “We continue to see softening demand and macro headwinds in our core business,” Dropbox CEO Drew Houston said in a ... Read more ›
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The European Commission is set to launch a formal investigation into Temu, Bloomberg reported Wednesday. The EU on Oct. 11 requested Temu share information on how it addresses and prevents the sale of counterfeit, unsafe or illegal products on its site, and Temu’s responses did not sufficiently ... Read more ›
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10.06.2026 14:53
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