Summary: Sam Bankman-Fried took the stand for the last time in his trial for fraud and money laundering. His defense lawyer presented him as a person who acted in good faith. Bankman-Fried emphasized his concern for the leadership in his crypto exchange, FTX. He insisted he was not involved in the day-to-day trading operations. Ted’s…
Summary: It’s been more than a year since Adobe announced its intention to buy Figma for $20 billion, but the deal is still stuck in regulatory limbo. The delay could be due to regulatory concerns about the deal being anticompetitive. Seed deals are becoming more expensive, even as overall volume declines. There is a lesser-known…
Summary: Abhi Ramesh, the founder and CEO of Misfits Market, talks about the challenges he faced while launching the e-commerce site that sells “ugly” produce. Ramesh reveals that he started the business out of his apartment and accumulated credit card debt in the process. He also discusses the experience of acquiring and integrating one of…
Summary: Tesla has won a jury trial in a case where two passengers alleged that its Autopilot system led to a fatal crash. The passengers sought $400 million in damages for the loss of the driver’s life and other injuries. Tesla argued that the crash was the result of human error, not a defect in…
Summary: Houston-based cybersecurity firm Graylog has raised $39 million in a funding round co-led by Silver Lake Waterman, Piper Sandler Merchant Banking, and Harbert Growth Partners. Of the $39 million, $9 million was in equity, and $30 million was in the form of a “flex debt” facility. Graylog offers log analysis tools to detect and…
Summary: Twitter has shut down the Circles feature, which allowed users to post to a small, exclusive audience. Users reported glitches with the feature as early as February, and in May, Twitter apologized for the errors. Some users are concerned about the privacy of their Circle tweets now that the feature is gone. It is…
Summary: Comcast has launched the Comcast NBCUniversal SportsTech Accelerator to support startups that bring innovative technology to the world of sports. The accelerator is not looking for beginner companies, but ones that have already built a product and are working with customers. Comcast invests $50,000 in each company in return for equity. The goal of…
Summary: Google and Match Group have reached a settlement in the antitrust case brought against Google by Match Group, the parent company of dating apps Tinder, Hinge, and more. As part of the settlement, Match Group will be able to implement “user choice billing” by March 31, 2024, which allows users to pay with systems…
Summary: The Federal Aviation Administration (FAA) has completed a safety review of SpaceX’s Starship, evaluating its impact on public health and property. The completion of the safety review is an important step, but SpaceX still needs to await the results of the environmental assessment, which is being conducted in consultation with the U.S. Fish and…
Summary: WeWork is reportedly on the verge of filing for bankruptcy in New Jersey, as the company has been struggling for years and faced further challenges during the COVID-19 pandemic. The company missed interest payments earlier this month and has been granted 30 days to come up with those payments. WeWork’s stock has plummeted over…