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Tesla, After Resisting California Virus Shutdown Order, Appears Ready to Comply

Update, March 18: Tesla, after initially resisting a Tuesday order by local authorities to shut down car production amid the coronavirus outbreak, is preparing to reduce staff by about 75% at its main plant, a spokesman for the Alameda County sheriff’s office told  Bloomberg and other outlets. It is unclear why Tesla needs to keep 2,500 workers on site.  Tesla CEO Elon Musk is known for...

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The Investors Who Face Big Losses From the Quibi Collapse
The Investors Who Face Big Losses From the Quibi Collapse

On Wednesday, video startup Quibi told its investors that it will shut down, a dramatic collapse of a digital media startup that launched just six months ago. Now those investors—from Quibi CEO Meg Whitman to Google, Facebook and J.P. Morgan—are facing losses and figuring out what they may recoup from the flop.

Quibi revealed to investors Wednesday afternoon that, after paying ...

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