Benchmark Capital called ousted Uber Technologies Chief Executive Travis Kalanick a “corrosive influence” on the ride-services company in a court filing on Thursday, the latest salvo in a battle between the two over Kalanick’s presence on Uber’s board. The dispute could determine who wields power at Uber as the world’s largest venture-backed company looks for […]
Read moreApple will unveil an updated version of its Apple TV with support for 4K content in September, Bloomberg said on Thursday. The new 4K Apple TV will reportedly be unveiled during the same event that Apple introduces the iPhone 8 and a new Apple Watch. Apple will likely talk more about its new software updates […]
Read moreTesla next month plans to unveil an electric big-rig truck with a working range of 200 to 300 miles, Reuters has learned, a sign that the electric car maker is targeting regional hauling for its entry into the commercial freight market. Chief Executive Elon Musk has promised to release a prototype of its Tesla Semi […]
Read moreStocks of major food retailers collapsed Thursday, erasing at least $10 billion in market value, after Amazon said Whole Foods Market will cut prices on many of its best-selling grocery products in just four days. That’s when Jeff Bezos’ company is set to close its $13.7 billion acquisition of the high-end food retailer, the largest […]
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I got a call Thursday morning from Kathleen Smith, who runs Renaissance Capital, an investment firm that specializes in investing in IPOs and also runs the Renaissance Capital IPO ETF (ticker: IPO), a basket of the largest 60 or so most recent offerings. She had just finished reading the S-1 filing of a proposed IPO […]
Read moreImagine being a tech company with so little profit that you could buy a grocery store and cut prices all while improving your margin. Yes, that’s Amazon. In announcing the upcoming close of its $13.7 billion acquisition of Whole Foods on Thursday, Amazon also said that starting next week, it will offer lower prices on […]
Read moreRobots are going to replace human workers and when they do, the companies that employ them should be taxed. So says billionaire Bill Gates. And now, San Francisco lawmaker Jane Kim thinks so too. In February, in an interview with Quartz, the Microsoft co-founder broached the idea of a “robot tax.” “Right now, the human […]
Read moreWhole Foods customers are one step closer to being able to ask Alexa to order their groceries. Whole Foods shareholders voted Wednesday to approve Amazon’s acquisition bid, and Amazon announced Thursday it would close the deal Monday. But what if you didn’t have to tell Alexa what you wanted? What if instead, she told you? […]
Read moreApple will invest at least $1.3 billion in the first phase of an Iowa data center project, CEO Tim Cook said on Thursday, in speech in that state that emphasized Apple’s push to “build a future for everyone.” Apple, like fellow technology companies Facebook, Microsoft and Google, will build a data center near Waukee, Iowa, […]
Read moreAs Amazon takes its first steps into the health sector, many established players say they have little to fear. As Walgreens CEO Stefano Pessina stressed on a recent earnings call with investors, Amazon has “opportunities around the world and in other categories, which are much, much simpler than health care, which is a very regulated […]
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