Uber is “selling” its self-driving car development unit to a rival autonomous vehicle developer, Aurora Innovation, and shaving off 15% of its total annual cash burn in the process. The move, in which Uber will invest $400 million in Aurora for a minority stake, mirrors a deal Uber struck in offloading its failing scooter-rental business to an existing rival in that field, a startup called Lime,...
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What a Brazilian Steakhouse Says About the Tech Economy
Hi, welcome to your Weekend.One of my favorite tech memes is the “We’re so back” post, the kind that pokes fun at the industry returning to the good old days of expensive perks and wine-soaked dinners.I had a real-life “We’re so back” moment this week when I attended a bacchanalian feast thrown by Bain Capital Ventures at Fogo de Chão in San Francisco. Bain Capital’s private equity arm...
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