Hyperbole and cheap headlines are the name of the game in self-driving cars, and today was a good example. GM said Honda would invest $2.75 billion in the efforts of its Cruise division, which is trying to develop robotaxis in San Francisco. In reality, Honda agreed to invest $750 million now and add $2 billion over the next 12 years. Moreover, GM’s regulatory filing says some of that money may...
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Bitcoin After Inflation; Games Build Bridge to DeFi
Bitcoin prices got a lift after the Federal Reserve said on Wednesday that it was keeping interest rates near zero on Wednesday, despite rising inflation. The cryptocurrency is currently just under $40,000, an increase of 4.1% over the past 24 hours, a sign that at least some investors still see value in bitcoin as an inflation hedge.But Fed Chair Jerome Powell also said at a news conference...
Microsoft Acquires Spending Management Startup Suplari
Facebook’s Revenue Jumps 56% to $29 billion
FTC Chair Claims Big Tech Promote Fraud
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Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry
Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full Truck’s CEO over dinner and arranged a $110 million investment in the same round, according to a person familiar with the matter.