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California Judge Strikes Down Uber-Backed ‘Gig Worker’ Law Passed By Voters

By Amir Efrati
· · Source: The Information

In a surprise decision, a California state judge on Friday struck down Proposition 22, a voter ballot initiative passed by a wide margin last fall to give gig workers more benefits without categorizing them as employees. Uber, DoorDash and many other gig-economy companies that bankrolled Prop 22 to the tune of hundreds of millions of dollars will now be forced to go back to court to try to...

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The Briefing Google Policy
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Alphabet's Mountain View headquarters. Photo by Bloomberg.
Google’s legal department has its hands full these days, given numerous antitrust lawsuits filed both by the Justice Department and individual states targeting different parts of its business. Our scoop today—about how a bipartisan group of senators is putting together a bill to force Google to divest its ad tech operations—will only add to the lawyers’ workload. Where is this all heading?...
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Exclusive
Tiger Global, Alkeon Slash Startup Valuations Amid Public Stock Selloff
By Berber Jin and Kate Clark
For more than a year, startup founders have watched in awe and some trepidation as hedge funds and other large investors flooded private startups with big checks, pushing up valuations and making it easier than ever to raise money.
Snowflake CEO Frank Slootman (left) and Databricks CEO Ali Ghodsi. Photos by Snowflake, Bloomberg. Collage by Mike Sullivan
Exclusive Cloud
Snowflake vs. Databricks: How Onetime Friends Became Fierce Cloud Rivals
By Kevin McLaughlin
A few years ago, Snowflake and Databricks were up-and-coming cloud software startups that were so friendly, their sales teams regularly passed customer leads to each other.
Pinterest headquarters office in San Francisco. Photo by Bloomberg
Exclusive Entertainment E-commerce
Pinterest Has Lost at Least 7 Senior Execs in Recent Weeks
By Jessica Toonkel and Sahil Patel
Pinterest has lost at least seven senior executives in roles ranging from creator marketing to corporate development in recent weeks as the online scrapbooking app grapples with a drop in U.S.
Photos by AP; Bloomberg
Enterprise Markets
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By Aidan Ryan
A sharp sell-off in tech stocks over the past few months has caused investors a lot of pain—but could be the trigger for more mergers.
Art by Mike Sullivan
Exclusive Venture Capital Startups
Tech’s Great Headhunter Shortage: Employers Shower Recruiters With Better Pay, Benefits
By Mark Matousek
In the middle of 2020, not long after the Covid-19 pandemic began sparking layoffs across the country, Joe Price watched as eight members of the recruiting department at an automotive software company he worked for lost their jobs.
Art by Shutterstock; Mike Sullivan
Opinion Crypto Economy
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By Eswar Prasad
By plenty of standards, Bitcoin is a failure. Transactions on the Bitcoin blockchain take at least 10 minutes to process, which would make it cumbersome for day-to-day transactions if its wildly fluctuating price hadn’t already rendered it useless as a means of exchange.