Food delivery apps in China faced a backlash after a report went viral showing tough conditions for delivery riders working for Ele.me and Meituan, the two biggest delivery apps. The report, first published in Chinese magazine Renwu and seen more than 1 million times, according to the South China Morning Post, detailed how drivers risked their lives to meet tight deadlines. Ele.me, which is...
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Google, Nvidia and Microsoft Offer What VCs Can’t
Welcome back,Amid all the hype for generative artificial intelligence, some venture capitalists have refused to join the fray. These young companies need so much capital and so much computing resources, the VC skeptics say, that they’ll have little chance of competing against Google, Amazon and other big tech companies that may soon have similar products.Our recent reporting this week was a...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.