Anthony Levandowski, the star self-driving car engineer who was at the center of a trade secrets lawsuit, has filed a motion to compel Uber into arbitration in the hopes that his former employee will have to shoulder the cost of at least $179 million judgment against him.
The motion to compel arbitration filed this week is part of Levandowski’s bankruptcy proceedings. It’s the latest chapter in a long and winding legal saga that has entangled Uber and Waymo, the former Google self-driving project that is now a business under Alphabet.
The motion represents the first legal step to force Uber to stand by an indemnity agreement with Levandowski. Uber signed an indemnity agreement in 2016 when it acquired Levandowski’s self-driving truck startup Otto . Under the agreement, Uber said it would indemnify — or compensate — Levandowski against claims brought by his former employer Google.
In Uber’s view the stakes are at least $64 million, according to the ride-hailing company’s annual report filed with the U.S. Securities and Exchange Commission . Although Levandowski, who was ordered in March 2020 to pay Google $179 million, is clearly shooting for more.
“For much of the past three years, Anthony ceded control of his personal defense to Uber because Uber insisted on controlling his defense as part of its duty to indemnify him. Then, when Uber didn’t like the outcome, it suddenly changed its mind and said it would not indemnify him. What Uber did is wrong, and Anthony has to protect his rights as a result,” Levandowksi’s lawyer Neel Chatterjee of Goodwin Procter said in an emailed statement to TechCrunch.
Levandowski was an engineer and one of the founding members in 2009 of the Google self-driving project, which was internally called Project Chauffeur. The Google self-driving project later spun out to become Waymo, a business under Alphabet. Levandowski was paid about $127 million by Google for his work on Project Chauffeur, according to the court document filed this week.
Levandowski left Google in January 2016 and started Otto, a self-driving trucking company, with three other Google veterans Lior Ron, Claire Delaunay and Don Burnette. Uber acquired Otto less than eight months later.
Before the acquisition closed, Uber conducted due diligence including hiring outside forensic investigation firm Stroz Friedberg to review the electronic devices of Levandowski and other Otto employees, according to the recent court filing. The investigation discovered that Levandowski had files belonging to Google on his devices, as well as indications that evidence may have been destroyed.
Uber agreed to a broad indemnification agreement in spite of the forensic evidence, which would protect Levandowski against claims brought by Google relating to his previous employment. Levandowski was worried that Google would attempt to get back any or all of the $127 million in compensation he had received.
That forecast didn’t take long to come true. Two months after the acquisition, Google made two arbitration demands against Levandowski and Ron. Uber wasn’t a party to either arbitration. However, it was on the hook under the indemnification agreement, to defend Levandowski.
Uber accepted those obligations and defended Levandowski. While the arbitrations played out, Waymo separately filed a lawsuit in February 2017 against Uber, for trade secret theft. Waymo alleged in the suit, which went to trial and ended in a settlement, that Levandowski stole trade secrets, which were then used by Uber. Under the settlement, Uber agreed to not incorporate Waymo’s confidential information into their hardware and software. Uber also agreed to pay a financial settlement that included 0.34% of Uber equity, per its Series G-1 round $72 billion valuation. That calculated at the time to about $244.8 million in Uber equity.
Meanwhile, the arbitration panel issued an interim award in March 2019 against each of Google’s former employees, including a $127 million judgment against Levandowski. The judgment also included another $1 million that Levandowski and Ron were jointly liable for. Google submitted a request for interest, attorney fees and other costs. A final award was issued in December.
Ron settled in February with Google for $9.7 million. However, Levandowski, disputed the ruling. The San Francisco County Superior Court denied his petition in March, granting Google’s petition to hold Levandowski to the arbitration agreement under which he was liable.
As the legal wrangling between Google and Levandowski and Uber played out, the engineer faced criminal charges. In August 2019, he was indicted by a federal grand jury with 33 counts of theft and attempted theft of trade secrets while working at Google. Last month, Levandowski reached a plea agreement with the U.S. District Attorney and pleaded guilty to one count of stealing trade secrets.
Levandowski’s lawyers argue that when the final judgment was entered against him, Uber reneged on its indemnification agreement. Levandowski said he was forced to file for Chapter 11 bankruptcy because Uber has refused to pay.
“While Uber and Levandowski are parties to an indemnification agreement, whether Uber is ultimately responsible for such indemnification is subject to a dispute between the Company and Levandowski,” Uber said, using similar language found in its annual report filed with the SEC.
Even if Levandowski’s legal team is able to convince a judge to compel Uber into arbitration, that doesn’t mean the outcome will be positive. Arbitration could take months to play out. In the end, Levandowski could still lose. But the filing allows Levandowski to speak out — albeit using legalese — and share details of his employment at Google and Uber. Among those are details about what Uber knew (and when) about Levandowski’s activities in recruiting Google employees as well as information he had downloaded onto his laptop, and discovered during the forensic investigation.
The first cracks between Uber and Levandowski appeared in April 2018, based on a timeline in the court document. It was then that Uber told Levandowski it intended to seek reimbursement for expenses used to defend him in the arbitration, according to claims laid out in the motion. Uber told Levandowski at the time, that one reason it was seeking reimbursement is because Levandowski “refused to testify at his deposition through an unjustifiably broad invocation of the Fifth Amendment.” Levandowski had used the Fifth Amendment in the deposition during the arbitration with Google.
Uber never requested Levandowski waive his Fifth Amendment rights and testify during the arbitration, according to the court document. Levandowski said that he immediately alerted Google and the arbitration panel that he was willing to testify and offered to make himself available for deposition before the arbitration hearing.
Startups across the nation and around the world are looking for ways to relieve shortages of much-needed personal protective equipment and sanitizers used to halt the spread of COVID-19.
While some of the largest privately held technology companies, like SpaceX and Tesla, have shifted to manufacturing ventilators, smaller companies are also trying to pitch in and relieve scarcity locally.
Supplies have been difficult to come by in some of the areas hardest hit by the outbreak of the novel coronavirus, and the shortfalls have been made worse by a lack of coordination from the federal government. In some instances local governments have been bidding for supplies against each other and the federal government to acquire needed personal protective equipment.
On Sunday, New York’s governor Mario Cuomo pleaded with local governments to not engage in a bidding war. In fact, Kentucky was outbid by the Federal government for personal protective equipment.
“FEMA came out and bought it all out from under us,” Kentucky governor Andy Beshear told a local newspaper. “It is a challenge that the federal government says, ‘States, you need to go and find your supply chain,’ and then the federal government ends up buying from that supply chain.”
Against this backdrop local startups and maker spaces are stepping up to do what they can to fill the gap.
Alcohol brands are turning their attention to making hand sanitizer to distribute in communities experiencing shortages. 3D printing companies are working on new ways to manufacture personal protective equipment and swabs for COVID-19 testing. And one fast fashion retail startup is teaching its tailors and seamstresses how to make cloth masks for consumer protection.
AirCo, a New York-based startup that developed a process to use captured carbon dioxide to make liquor, shifted its efforts to making hand sanitizer for donations in communities in New York City.
Endless West announced this morning that it would shift production away from its distillery to begin making hand sanitizers. The World Health Organization approved their sanitizers, which the company will produce in its warehouse in San Francisco.
The 2-ounce bottles will be donated to local restaurants and bars that remain open for delivery, so that employees can use them and distribute them to customers. Bulk quantities will be distributed to healthcare organizations and facilities that need them.
Endless West also put out a call for other companies to provide supplies to hospitals and health organizations in the San Francisco Bay Area.
“We felt it was imperative to do our part and dedicate what resources we have to assist with shortages in the healthcare and food & beverage industries who keep the engine running and provide such important functions in this time of immense need throughout the community.” said Alec Lee, CEO of Endless West, in a statement.
Los Angeles-based Bev is no different.
“As an alcoholic beverage company, Bev is very lucky in that we are licensed to purchase ethanol directly from our suppliers, who are doing their part by discounting the product to anyone licensed to purchase it,” said Bev chief executive, Alix Peabody. “Community underscores everything we do here at Bev, and as such, we will be producing hand sanitizer and distributing it free of charge to the homeless and elderly communities here in Venice, populations who largely have insufficient access to healthcare and essential goods like sanitizer.”
Hand sanitizer is one sorely needed item in short supply, but there are others — including face masks, surgical masks, face shields, swabs and ventilator equipment that other startups are now switching gears to produce.
(Photo by PAU BARRENA/AFP via Getty Images)
In Canada, INKSmith, a startup that was making design and tech tools accessible for kids, has now moved to making face shields and is hiring up to 100 new employees to meet demand.
“I think in the short term, we’re going to scale up to meet the needs of the province soon. After that, we’re going to meet the demands of Canada,” INKSmith CEO Jeremy Hedges told the Canadian news outlet Global News.
Markforged is pushing ahead with a number of efforts to focus some of the benefits of 3D printing on the immediate problem of personal protective equipment for healthcare workers most exposed to COVID-19.
“We have about 20 people working on this pretty much as much as they can,” said Markforged chief executive, Gregory Mark. “We break it up into three different programs. The first stage is prototyping validation and getting first pass to doctors. The second is clinical trials and the third is production. We are in clinical trials with two. One is the nasal swab and two is the face shield.”
The ability to spin up manufacturing more quickly than traditional production lines using 3D printing means that both companies are in some ways better positioned to address a thousandfold increase in demand for supplies that no one anticipated.
“3D printing is the fastest way to make anything in the world up to a certain number of days, weeks, months or years,” says Mark. “As soon as we get the green light from hospitals, 10,000 printers around the world can be printing face shields and nose swabs.”
FormLabs, which already has a robust business supplying custom-printed surgical-grade healthcare products, is pushing to bring its swabs to market quickly.
“Not only can we help in the development of the swabs, but we can manufacture them ourselves,” says FormLabs chief product officer, David Lakatos.
Swabs for testing are in short supply in part because there are only a few manufacturers in the world who made them — and one of those primary manufacturers is in Italy, which means supplies and staff are in short supply. “There’s a shortage of them and nobody was expecting that we would need to test millions of people in short order,” says Lakatos.
FormLabs is also working on another piece of personal protective equipment — looking at converting snorkeling masks into respirators and face masks. “Our goal is to make one that is reusable,” says Lakatos. “A patient can use it as a respirator and you can put it in an autoclave and reuse it.”
In Brooklyn, Voodoo Manufacturing has repurposed its 5,000 square foot facility to mass-produce personal protective equipment. The company has set up a website, CombatingCovid.com, where organizations in need of supplies can place orders. Voodoo aims to print at least 2,500 protective face shields weekly and can scale to larger production volumes based on demand, the company said.
STAMFORD, CT – MARCH 23: Nurse Hannah Sutherland, dressed in personal protective equipment (PPE) awaits new patients at a drive-thru coronavirus testing station at Cummings Park on March 23, 2020 in Stamford, Connecticut. Availability of protective clothing for medical workers has become a major issue as COVID-19 cases surge throughout the United States. The Stamford site is run by Murphy Medical Associates. (Photo by John Moore/Getty Images)
Finally, Resonance, the fast fashion startup launched by the founder of FirstMark Capital, Lawrence Lenihan, is using its factory in the Dominican Republic to make face masks for consumers on the island and beyond.
“To contribute to the Dominican health efforts, Resonance is acting to utilize their resources to manufacture safety masks for distribution to local hospitals, nursing homes, and other high-risk facilities as quickly as possible. They have provided user-friendly instructions and material and will pay their sewers who can to make these masks from the security of their homes,” a spokesperson for the company wrote in an email. “Resonance is currently working to share this downloadable platform and simple instructions to their website, so anyone in the world can contribute to their own local communities.”
All of these efforts — and countless others too numerous to mention — point to the ways small companies are hoping to do something to help their communities stay safe and healthy in the midst of this global outbreak.
But many of these extreme measures may not have been necessary had governments around the world actively coordinated their response and engaged in better preparation before the situation became so dire.
There are a litany of errors that governments made — and are still making — in their efforts to respond to the pandemic, even as the private sector steps in and steps up to address them.
Since its inception, Cape Town based crowdsolving startup Zindi has been building a database of data scientists across Africa.
It now has 12,000 registered on its its platform that uses AI and machine learning to tackle complex problems and will offer them cash-prizes to find solutions to curb COVID-19.
Zindi has an open challenge focused on stemming the spread and havoc of coronavirus and will introduce a hackathon in April. The current competition, sponsored by AI4D, tasks scientists to create models that can use data to predict the global spread of COVID-19 over the next three months.
The challenge is open until April 19, solutions will be evaluated against future numbers and the winner will receive $5000.
The competition fits with Zindi’s business model of building a platform that can aggregate pressing private or public-sector challenges and match the solution seekers to problem solvers.
Founded in 2018, the early-stage venture allows companies, NGOs or government institutions to host online competitions around data oriented issues.
Zindi’s model has gained the attention of some notable corporate names in and outside of Africa. Those who have hosted competitions include Microsoft, IBM and Liquid Telecom. Public sector actors — such as the government of South Africa and UNICEF — have also tapped Zindi for challenges as varied as traffic safety and disruptions in agriculture.
Image Credits: Zindi
The startup’s CEO didn’t imagine a COVID-19 situation precisely, but sees it as one of the reasons she co-founded Zindi with South African Megan Yates and Ghanaian Ekow Duker.
The ability to apply Africa’s data science expertise, to solve problems around a complex health crisis such as COVID-19 is what Zindi was meant for, Lee explained to TechCrunch on a call from Cape Town.
“As an online platform, Zindi is well-positioned to mobilize data scientists at scale, across Africa and around the world, from the safety of their homes,” she said.
Lee explained that perception leads many to believe Africa is the victim or source of epidemics and disease. “We wanted to show Africa can actually also contribute to the solution for the globe.”
With COVID-19, Zindi is being employed to alleviate a problem that is also impacting its founder, staff and the world.
Lee spoke to TechCrunch while sheltering in place in Cape Town, as South Africa went into lockdown Friday due to coronavirus. Zindi’s founder explained she also has in-laws in New York and family in San Francisco living under similar circumstances due to the global spread of COVID-19.
Lee believes the startup’s competitions can produce solutions that nations in Africa could tap as the coronavirus spreads. “The government of Kenya just started a task force where they’re including companies from the ICT sector. So I think there could be interest,” she said.
Starting April, Zindi will launch six weekend hackathons focused on COVID-19.
That could be timely given the trend of COVID-19 in Africa. The continent’s cases by country were in the single digits in early March, but those numbers spiked last week — prompting the World Health Organization’s Regional Director Dr Matshidiso Moeti to sound an alarm on the rapid evolution of the virus on the continent.
By the WHO’s stats Wednesday there were 1691 COVID-19 cases in Sub-Saharan Africa and 29 confirmed deaths related to the virus — up from 463 cases and 10 deaths last Wednesday.
The trajectory of the coronavirus in Africa has prompted countries and startups, such as Zindi, to include the continent’s tech sector as part of a broader response. Central banks and fintech companies in Ghana, Nigeria, and Kenya have employed measures to encourage more mobile-money usage, vs. cash — which the World Health Organization flagged as a conduit for the spread of the virus.
The continent’s largest incubator, CcHub, launched a fund and open call for tech projects aimed at curbing COVID-19 and its social and economic impact.
Pan-African e-commerce company Jumia has offered African governments use of its last-mile delivery network for distribution of supplies to healthcare facilities and workers.
Zindi’s CEO Celina Lee anticipates the startup’s COVID-19 related competitions can provide additional means for policy-makers to combat the spread of the virus.
“The one that’s open right now should hopefully go into informing governments to be able to anticipate the spread of the disease and to more accurately predict the high risk areas in a country,” she said.
The impacts of telecommuting, shelter-in-place laws and home quarantines resulting from the COVID-19 outbreak are starting to impact broadband speeds across a number of U.S. cities, a new report has found. According to broadband analysis site BroadbandNow, 88 out of the top 200 most populous U.S. cities analyzed have now experienced some form of network degradation over the past week, compared with the 10 weeks prior, as more people are going online to work from home, video chat and stream movies and TV to keep themselves entertained. In a small handful of cities over the past week, there have even been significant degradations with download speeds dropping more than 40%, compared with the 10 weeks prior.
It’s not necessarily the areas hit hardest by the spread of the novel coronavirus that are experiencing the worst problems.
Cities including LA, Chicago, Brooklyn and San Francisco have seen little or no disruption in download speeds, the report claims. Seattle is also holding up well.
But New York City, now considered the epicenter of the virus in the U.S., saw download speeds drop by 24% last week, compared to the previous 10-week range. That said, NYC home network connections, which have a median speed of nearly 52 Mbps, are managing.
The good news is that in the majority of markets, network speeds are holding up.
But of the 88 out of 200 cities that saw declines, more than two dozen saw dips of either 20% below range or more, the data indicates.
Austin, TX (-44%); Charlotte, NC (-24%); Fayetteville, NC (-22%); Fort Lauderdale, FL (-29%); Hialeah, FL (-21%); Houston, TX (-24%); Irvine, CA (-20%); Jersey City, NJ (-25%); Kansas City, MO (-25%); Lawrenceville, GA (-24%); Littleton, CO (-22%); Marietta, GA (-29%); Miami, FL (-27%); Nashville, TN (-20%); New York, NY (-24%); Omaha, NE (-24%); Overland Park, KS (-33%); Oxnard, CA (-42%); Plano, TX (-31%); Raleigh, NC (-20%); Rochester, NY (-33%); St. Louis, MO (-21%) St. Paul, MN (-29%); San Jose, CA (-38%); Scottsdale, AZ (-32%); Washington, DC (-30%); and Winston-Salem, NC (-41%).
Three cities, in particular, were seeing serious network degradations of over 40%: Austin, TX (-44%), Winston Salem, NC (-41%), and Oxnard, CA (-42%). San Jose, CA was nearing this range, with a drop of 38%.
Internet service providers have been responding to the health crisis by suspending data caps, increasing base-level speeds and extending free access to low-income families during this time. But their ability to keep up with this level of high demand is being tested.
Streaming services, being one of the larger draws on bandwidth, have been lowering the quality of their streams to use less network capacity, as U.S. connectivity needs have grown. Yesterday, for example, YouTube announced it would default to SD connections to tame bandwidth demands. Amazon and Netflix have reduced stream quality in Europe. But despite record levels of network traffic in the U.S., Netflix hasn’t made any commitments to do the same in the U.S. Today, Netflix had an hour-long service interruption impacting some U.S. and European users.
Another area of concern is how well more rural areas will hold up with new stay-at-home and work-from-home orders in place. Often, these markets are only served by legacy technologies like DSL . So far, they’ve held up, BroadbandNow reports, but this could still change.
Seasoned secondary players were expecting it. As the markets began to plummet in recent weeks, shareholders who’d turned down earlier offers to buy this or that holding were suddenly curious to see if those interested parties might still be interested. Alas, it was too late. The market was moving too fast. It still is.
“Up until last week, everyone was calling to get old pricing,” says Hans Swildens, the founder of 20-year-old Industry Ventures in San Francisco, an investment firm that invests in hundreds of venture funds and is also among the industry’s biggest buyers of secondary shares. “It was, ‘Hey, we reconsidered this offer. Could you pay me what the market was paying last month?’ ”
Swildens says that everybody in the secondaries market said no. They had no choice. “It’s almost impossible to buy when you don’t know what numbers you’re buying against. Buyers don’t know how far the [net asset value] of funds will go down. No one wants to buy something for $10 million that might be worth $5 million [in the not-too-distant future].”
Such is the state of affairs in the venture-backed world of startups right now. Though 2020 once promised to be a year of splashy IPOs and long-awaited liquidity for players across the ecosystem — from employees to founders to venture firms to the limited partners that invest in venture firms — it may well be remembered instead as the year that time stood still.
Certainly, everyone seems stuck in place right now.
While limited partners are largely avoiding their phones, and hoping the venture managers in their portfolio will stop asking for capital, venture firms that didn’t push their portfolio companies to go public are now feeling pressured to produce liquidity somewhere in their holdings, and that’s tougher than ever right now. With some exceptions, cash-rich companies are in no hurry to go shopping (they also have to worry about looking monopolistic). With some exceptions, companies aren’t merging just yet (though expect a lot of this soon).
Now, secondary shops have hit the pause button, too, as everyone on the ground tries to get a better sense of where the bottom might be.
It could take one to three quarters to assess, say those in the know. For one thing, a lot of nontraditional players have propped up the venture market over the last decade, and some, including hard-hit corporations and family offices, might not have the wherewithal to support their venture managers, even if that’s not obvious today.
On the company level, there are also plenty of questions that are unanswerable at the moment. “Right now, everything is on pause in terms of activity,” says Swildens, adding that, “in a month, we’ll know more. Are people going back to work or not? What were Q1 numbers like? How does April look? Did this company miss revenue by 10% or 80%? Did it beat revenue in March or April? For the buy side, in a month, we’ll have data from the companies and the funds, while right now, no one knows how bad it is.”
In the meantime, secondary players are in the catbird’s seat, seemingly, even while they have to sit tight for what insiders say could be one to three quarters.
Chris Douvos, a longtime investor in venture funds, observes that there’s an “immense amount of capital looking for fund stakes,” meaning from outfits like Industry Ventures and roughly 75 other players in the market. “If I’m a VC right now, I’m wondering when [these] investors — folks who have billions of dollars in committed capital and love to buy fund stakes at 65 cents on the dollar — start capitulating, but that’s like six to nine months out when you really see [these transactions] happen.”
Swildens suggests that’s about right. “Sellers have to reset pricing expectations, then buyers have to come up with a price they are willing to pay, and those things have to meet. And that takes one to two quarters.”
What’s happening between now and then are calls, more calls, and endless number-crunching. Some of it is proving dismal, with a lot of those numbers shrinking as revenue slows and sales cycles grow harder. Some of it, around pre-IPO companies, is likely particularly agonizing. “All the boards and CEOs are trying to work out pro forma plans now,” says Swildens. “If they cut spending too much, growth slows too much and they can’t take the company public next year. They can’t cut to the bone, or they can’t list it.”
There are bright spots, however. As Swildens observes, “Everybody is being negatively impacted right now, with the exception of some bandwidth, infrastructure, fintech and edtech investments. For some of these, [this shutdown] has been kind of a good thing. Edtech companies’ prices are probably going to go up with tens of millions of people suddenly signing up for their services.”
Now to hurry up and wait.
The game developer behind Second Life has abandoned its grand efforts for a virtual reality follow-up to its early 2000s hit.
SF-based Linden Lab announced today that they’ve sold off assets related to Sansar to a small, little-known company called Wookey Search Technologies, which will take over development of the title. Linden Lab will continue developing and maintaining Second Life and it sounds like some of its employees will be joining Wookey. The deal was reported by Protocol.
The game studio had already announced layoffs last month.
Though Second Life has remained in the limelight of popular culture, the studio claimed to still be hauling in substantial revenues from the game in recent years. That said, the failure of Sansar is a disaster for Linden Labs which has focused considerable resources on the effort since it first teased the platform back in 2014.
When the title was announced, VR was at the peak of its hype following Facebook’s Oculus VR acquisition. Though Sansar launched in beta with support for both VR and desktop usage, the slow adoption of VR certainly didn’t help the title’s popularity. The studio’s leadership has detailed in interviews that the majority of Sansar’s users are desktop-based.
Given the evident turmoil at the studio, Sansar’s user base will likely be relieved to hear that the studio did their best to give the title a soft landing, though it’s unclear what resources its new acquirer has access to.
There’s a global shortage of available protective equipment (PPE) and medical supplies for use by frontline responders working to fight the spread of the novel coronavirus, and the Frontline Responders Fund wants to channel donations to help address that shortage. The fund, which is seeking public donations via GoFundMe, will use all proceeds to cover the costs of transportation of these crucial supplies to the hospitals, clinics and public agencies that need them most.
Flexport is facilitating the deliveries via their supply chain management platform and services, and are receiving donations via their grant making partner Charities Add Foundation of America (CAF), which facilitates the acceptance of charitable donations for Flexport.org, Flexport’s NGO for social good projects.
Already, Flexport has been taking steps to get equipment where it’s needed most: last week, it got 60,000 surgical masks, 34,000 gloves, 2,000 surgical gowns and 50 thermometers from MedShare to San Francisco’s Department of Public Health. But the organization wants to do more, both for SF and for other cites in that are looking for ways to shore up their own supplies.
“My neighbor is on the board of supervisors and she told me the city really needed help,” Petersen said via email earlier this week. “Naturally our team stepped in and applied our knowledge of supply chains and logistics plus a long standing partnership with MedShare.org to get them PPE quickly. Now we’re scaling that effort to get more supplies for SF as well as other cities and hospitals that are also in desperate need.”
The funds made available through this fundraising effort will go to securing not only PPE, but also “testing kits, thermometers, ventilators and medicines,” according to the project’s GoFundMe page, based on what medical service providers deem to be highest priority in terms of need.
Petersen says that effectively all of his time now is focused on logistics to support these ongoing efforts, and it looks like it’ll remain that way for the foreseeable future.
Other organizations, including Apple, and now SoftBank, have been donating large volumes of N95 respirators, a key piece of frontline protective equipment. Flexport’s work could facilitate continued supply, leveraging their supply chain relationships, to ensure that equipment makes its way to frontline staff as fast as it’s able to be produced.
Donations can be made directly through the fund’s GoFundMe page, and the total raised is sitting at just under $3 million as of this writing – helped in large part by sizeable donations from Silicon Valley leaders including Paul Graham, Jack Dorsey and Ron Conway, as well as celebrities including Edward Norton and Arnold Schwarzenegger.
Following on the heels of several major cancellations of events the past few days, including the SXSW conference in Austin and the tech conference SaaStr, Stanford University, which is located in the heart of Silicon Valley in Palo Alto, California, announced late Friday that the school would cancel in-person classes for the final two weeks of the university’s winter quarter in response to the expanding outbreak of novel coronavirus, or COVID-19.
In a statement posted by the university, Stanford’s provost Persis Drell announced that the university would cancel two weeks of classes leading up to the university’s winter quarter exams, and “to the extent feasible” migrate classes to online formats.
In addition, professors are being encouraged by the administration to find ways of delivering functionally equivalent course material through online formats, and all exams for winter quarter are expected to be delivered remotely. The policy takes effect immediately starting with classes this coming Monday, March 9.
Furthermore, the university is canceling its annual Admit Weekend, where newly-admitted prospective freshman visit the palm-lined campus and learn more about the school before making a final decision on where to head for their undergraduate degrees. Tours of the campus have also been canceled.
The university in a separate note today acknowledged that two students are in self-isolation after “possible exposure” to the novel coronavirus. The university emphasized that neither student has affirmatively tested positive for the infection at this time.
The San Francisco Bay Area has seen increasing numbers of potential exposures to the novel coronavirus. Stanford itself has been on the vanguard of responding to the global pandemic, announcing the development of its own test earlier this week to detect the infection.
If you’re an early-stage startup founder with a big vision and even bigger dreams, join us and more than 10,000 other like-minded startuppers at TechCrunch Disrupt San Francisco 2020 on September 14-16. Silicon Valley’s premiere early-stage startup extravaganza focuses on founders, investors and startup experts determined to disrupt and reshape technology.
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Chinese gaming giant Beijing Kunlun has agreed to sell popular gay dating app Grindr for about $608 million, ending a tumultuous four years under Chinese ownership.
Reuters reports that the Chinese company sold its 98% stake in Grindr to a U.S.-based company, San Vicente Acquisition Partners.
The app, originally developed in Los Angeles, raised national security concerns after it was acquired by Beijing Kunlun in 2016 for $93 million. That ownership was later scrutinized by a U.S. government national security panel, the Committee on Foreign Investment in the United States (CFIUS), which reportedly told the Beijing-based parent company that its ownership of Grindr constituted a national security threat.
CFIUS expressed concern that data from the app’s some 27 million users could be used by the Chinese government. Last year, it was reported that while under Chinese ownership, Grindr allowed engineers in Beijing access to the personal data of millions of U.S. users, including their private messages and HIV status.
Beijing Kunlun had agreed to sell the unit by June.
Little is known about San Vicente Acquisition, but a person with knowledge of the deal said that the company is made up of a group of investors that’s fully owned and controlled by Americans. Reuters said that one of those investors is James Lu, a former executive at Chinese search giant Baidu.
The deal is subject to shareholder approval and a review by CFIUS.
A spokesperson for Grindr declined to comment on the record.
Ridesharing company Lyft has advised its San Francisco employees to go home after learning one staff member was in contact with someone exposed to coronavirus, or COVID-19. The team member has not exhibited any symptoms and is in touch with medical professionals, Lyft spokesperson Alexandra LaManna told TechCrunch.
“We are basing every step of our response process on CDC guidance, and out of an abundance of caution are encouraging our San Francisco headquarters employees to work from home for the remainder of this week,” Lyft shared in a statement.
LaManna also said that Lyft HQ will be having an “enhanced cleaning process overnight.”
The response is another in a slew of tech companies sending employees home to limit the chance of coronavirus spreading among staff. Earlier this week, Twitter encouraged all staff members to work from home. Amazon, LinkedIn, Microsoft and Google also advised some staff to work remotely based on fears of exposure.
The ripple effect of COVID-19 on tech doesn’t stop at employees. A number of high-profile conferences have been canceled, including Facebook’s F8 conference and Google’s physical part of Cloud Next. SXSW and Y Combinator Demo Day have not yet disclosed whether or not their independent conferences, which garner thousands of people, will stay on.
Coronavirus has also started to impact the market, with Microsoft citing the outbreak as the reason for having supply-chain issues and an impact on earnings.
Frontline Ventures, based in Dublin and London, has announced a new $80 million fund designed to assist U.S. tech companies expanding into Europe.
The new Frontline X fund — which means the firm now has $200 million under management — focuses mainly on growth-stage B2B companies and invests up to $5 million per company alongside lead investors in later-stage rounds. Frontline X will be led by partners Stephen McIntyre and Brennan O’Donnell.
The firm believes that flawed go-to-market strategies and weak local talent networks means that U.S. companies tend to lose too much money in foregone revenue when they expand into Europe, and the team is aiming to address this.
Ireland has been a crucial landing point, particularly for U.S. tech companies expanding into Europe, in part because of its low tax regime. No doubt, Irish investors are now realizing that with the U.K. leaving the EU, both Dublin and Ireland will become an even more attractive proposition.
Frontline has backed a number of successful companies in Seed Funds I and II, including Britebill (acquired by Amdocs), Logentries (acquired by Rapid7) and Orchestrate (acquired by CenturyLink) . Most recently, Frontline was an early investor in Pointy, which was acquired by Google last month.
Prior to joining Frontline, McIntyre setup Twitter’s European headquarters as the vice president of EMEA, and built its EMEA business. Prior to that he ran a substantial part of Google’s ads business.
O’Donnell joins Frontline X as a partner in San Francisco. He previously held multiple go-to-market leadership roles at Google in the U.S. and Europe and executive roles at Yammer, SurveyMonkey, Euclid and Airtable.
In a statement McIntyre said: “We’ve benchmarked the best of B2B software and seen that, by the time a company goes public, 30% of its revenue should be coming from Europe. But even the biggest names in tech fail to get there because of avoidable mistakes when they land. We’ve learned about international expansion the hard way as operators. The good news is that most of these problems are known and solvable.”
Frontline X already invested in the Series B of TripActions, a company that has gone on to raise from Andreessen Horowitz at a $4 billion valuation; People.ai’s $100 million Series C, together with Lightspeed, Andreessen Horowitz and ICONIQ; and Clearbanc’s $50 million Series B, with Emergence and Highland. The VC has also backed more than 60 companies with recent investments, including TeachCloud, Siren, Cloudsmith and Sweepr.
Ariel Cohen, the CEO of TripActions, commented that Frontline was “a crucial source of go-to-market advice.”
San Francisco is poised to pass a controversial proposition that would almost certainly limit further office space development in the city, perhaps pushing more tech companies and startups to set up their HQs elsewhere.
Prop E‘s passing, which seemed likely Wednesday afternoon following Tuesday’s election, ties office development approval to the city’s ability to meet affordable housing goals, something that the city and its developers haven’t proven themselves all that capable of doing in recent years. Amid skyrocketing rents and a homeless crisis, there’s been ample concerns that the structures in the city are being overstressed, low and moderate income residents are being pushed out and that the influx of tech startup presences is exacerbating the problem.
San Francisco had already been operating under voter-imposed annual limits for new office space via Prop M, a 1986 ballot measure that has limited annual office space allocations to 875,000 square feet of large office space (defined as building with more than 50,000 square feet). Prop E ties this office space maximum to regionally determined affordable housing goals, ones aimed much higher than San Francisco has been able to hit in recent years.
In the past decade, SF has built an average of 712 affordable housing units per year, according to the chief economist’s report. In the past twenty years, San Francisco annual affordable housing production has popped above 1,000 units only once. The latest goals, set by a state program, pin annual affordable housing production at 2,042 units per year. With Prop E, if San Francisco fell short of that annual goal, only building one-third of those 2,042 units, they would also only be able to allocate one-third of its 875,000 large space square footage to new large space projects.
Scarcity in office space has been a consistent issue for startups in SF. Last year, Stripe, one of the world’s most highly valued startups, cemented plans to leave San Francisco, citing the scarcity of office space in the city as part of its decision to leave, The San Francisco Chronicle reported.
Prop E’s passage is perhaps the worst institutional political failure I’ve seen in my 23 years in SF.
Prop E is a dumpster fire.
It‘ll reduce $ for affordable housing/transit, cost SF’s general fund billions, push out start-ups/nonprofits & fuel office sprawl (w increased VMT). https://t.co/97p2RZNAPO
— Scott Wiener (@Scott_Wiener) March 4, 2020
Mayor London Breed did not support Prop E, and the city’s own chief economist estimated Prop E would go onto cost the city tens of millions of dollars in revenues and thousands of jobs per year, limiting the city’s GDP growth by tens of billions over the next 20 years. The report didn’t mince words, “By tying future office development to an affordable housing target that the city has never met, the proposed measure is likely to lead to high office rents, reduced tax revenue, reduced incomes and reduced employment across the city’s economy.”
Proponents of the measure have hopes that tying office space allocation to affordable housing production will push major developers in the city to encourage affordable housing rather than standing in its way. The proposition was supported by the bulk of SF’s Board of Supervisors, many of whom have notably taken efforts to limit affordable housing production in their own districts.
Prop E was sponsored by TodCo, an SF organization which owns nearly 1,000 affordable housing units in the SoMa neighborhood, an area that is often the center of the city’s office space development, affordable housing development and homelessness crisis. In an interview with SF Public Press, TodCo’s director of community engagement Jon Jacobo pushed back on the city’s report, saying, “It’s not a doomsday scenario, instead of 50 percent growth, we’re going to get maybe 38 percent growth.”
The vote to pass Prop E currently has the support of 55% of SF voters with 100 of precincts reporting — though there are still a number of mail-in ballots to be counted which could affect outcomes.
Alternative and holistic healthcare seekers in the Los Angeles area have a new service they can turn to in WellSet, the listing platform that launched on Tuesday.
Through the service, customers coming off of the company’s existing waitlist can access its marketplace for finding acupuncturists, massage therapists, functional medicine practitioners, craniosacral therapists, nutrionists, life coaches and holistic therapists.
WellSet will serve up practitioners based on a users’ health concerns, the price, location, and type of practice on offer.
The company takes a 30% referral fee for its first booking and a 3% booking fee for future appointments booked through its platform. It also provides backend services like intake form management, insurance management and other logistical offerings, according to Bukowski.
Meltzer and Bukowski began working on the company two-and-a-half years ago, according to the chief executive. A former Yale-educated architect who worked for the starchitect Zaha Hadid, Bukowski founded the company because of her own experience with the healthcare industry. While in school she suffered through frequent trips to the hospital for what was an undiagnosed “mystery illness”, which she eventually treated holistically.
For the first 10,000 people to sign up for the company’s waitlist, WellSet is offering a $20 credit for the first session booked on the platform, once WellSet launches in their city.
So far the company has roughly 7,000 practitioners on the service and enough providers to launch in at least 5 major markets. Its deliberate rollout strategy will see the company opening its virtual doors in New York and San Francisco in the coming months.
The Los Angeles-based company was founded by Tegan Bukowski, who serves as co-founder and chief executive officer. Sky Meltzer, the company’s executive chairman and co-founder was the former chief executive of the yoga company, Manduka. Rounding out the team is Hanna Madrigan, a former Pinterest employee who now serves as the chief operating officer.
The company is backed by investors including Kleiner Perkins, Broadway Angels, a female-focused Silicon Valley investment firm, Kelly Noonan Gores, a writer, producer and director of HEAL documentary.
There’s a small holistic healing community growing in Los Angeles. Gwyneth Paltrow’s Goop is by far the best funded of these new companies, but startups like Kensho Health are making their presence felt as well.
Increasingly, holistic healing and functional medicine are seen as viable options for certain types of chronic conditions. The Centers for Medicare and Medicaid recently added acupuncture as a reimbursable treatment — opening the door to the possibility that other conditions may be covered by the government and private insurers.
NASA and a clutch of startup and established companies are moving forward with plans to transform mobility in urban environments through the Urban Air Mobility Grand Challenge.
If it’s fully implemented, the new Urban Air Mobility system could enable air transit for things like package delivery, taxi services, expanded air medical services and cargo delivery to underserved or rural communities, the agency said in a statement.
The Grand Challenge series brings together companies developing new transportation or airspace management technologies, the Agency said.
“With this step, we’re continuing to put the pieces together that we hope will soon make real the long-anticipated vision of smaller piloted and unpiloted vehicles providing a variety of services around cities and in rural areas,” said Robert Pearce, NASA’s associate administrator for aeronautics, in a statement.
The idea is to bring companies to collaborate and also give regulatory agencies a window into the technologies and how they may work in concert to bring air mobility to the masses in the coming years.
“Our partnership with the FAA will be a key factor in the successful and safe outcomes for industry that we can expect from conducting these series of Grand Challenges during the coming years,” Pearce said, in a statement.
Getting the agreements signed are the first step in a multi-stage process that will culminate in the challenge’s official competition in 2022. There are preliminary technological tests that will take place this year.
“We consider this work as a risk reduction step toward Grand Challenge 1,” said Starr Ginn, NASA’s Grand Challenge lead. “It is designed to allow U.S. developed aircraft and airspace management service providers to essentially try out their systems with real-world operations in simulated environments that we also will be flight testing to gain experience.”
Partnerships for the challenge fall into three categories:
The Grand Challenge is managed through NASA’s Advanced Air Mobility project, which was established in the agency’s Aeronautics Research Mission Directorate to coordinate urban air mobility activities.
Companies participating in the challenge include:
Data management company Datastax, one of the largest contributors to the Apache Cassandra project, today announced that it has acquired The Last Pickle (and no, I don’t know what’s up with that name either), a New Zealand-based Cassandra consulting and services firm that’s behind a number of popular open-source tools for the distributed NoSQL database.
As Datastax Chief Strategy Officer Sam Ramji, who you may remember from his recent tenure at Apigee, the Cloud Foundry Foundation, Google and Autodesk, told me, The Last Pickle is one of the premier Apache Cassandra consulting and services companies. The team there has been building Cassandra-based open source solutions for the likes of Spotify, T Mobile and AT&T since it was founded back in 2012. And while The Last Pickle is based in New Zealand, the company has engineers all over the world that do the heavy lifting and help these companies successfully implement the Cassandra database technology.
It’s worth mentioning that Last Pickle CEO Aaron Morton first discovered Cassandra when he worked for WETA Digital on the special effects for Avatar, where the team used Cassandra to allow the VFX artists to store their data.
“There’s two parts to what they do,” Ramji explained. “One is the very visible consulting, which has led them to become world experts in the operation of Cassandra. So as we automate Cassandra and as we improve the operability of the project with enterprises, their embodied wisdom about how to operate and scale Apache Cassandra is as good as it gets — the best in the world.” And The Last Pickle’s experience in building systems with tens of thousands of nodes — and the challenges that its customers face — is something Datastax can then offer to its customers as well.
As both Ramji and Datastax VP of Engineering Josh McKenzie stressed, Cassandra has seen a lot of commercial development in recent years, with the likes of AWS now offering a managed Cassandra service, for example, but there wasn’t all that much hype around the project anymore. But they argue that’s a good thing. Now that it is over ten years old, Cassandra has been battle-hardened. For the last ten years, Ramji argues, the industry tried to figure out what the de factor standard for scale-out computing should be. By 2019, it became clear that Kubernetes was the answer to that.
“This next decade is about what is the de facto standard for scale-out data? We think that’s got certain affordances, certain structural needs and we think that the decades that Cassandra has spent getting harden puts it in a position to be data for that wave.”
McKenzie also noted that Cassandra provides users with a number of built-in features like support for mutiple data centers and geo-replication, rolling updates and live scaling, as well as wide support across programming languages, give it a number of advantages over competing databases.
“It’s easy to forget how much Cassandra gives you for free just based on its architecture,” he said. “Losing the power in an entire datacenter, upgrading the version of the database, hardware failing every day? No problem. The cluster is 100 percent always still up and available. The tooling and expertise of The Last Pickle really help bring all this distributed and resilient power into the hands of the masses.”
The two companies did not disclose the price of the acquisition.
Apple Inc. has agreed to pay a settlement of up to $500 million, following a lawsuit accusing the company of intentionally slowing down the performance of older phones to encourage customers to buy newer models or fresh batteries.
The preliminary proposed class action lawsuit was disclosed Friday night and would see Apple pay consumers $25 per-phone, as reported by Reuters.
Any settlement needs to be approved by U.S. District Judge Edward Davila, who oversaw the case brought in San Jose, Calif.
For consumers, the $25 payout may seem a little low as a new iPhone can cost anywhere from $649 to $849 (for a lower-end model). The cost may be varied depending on how many people sue and the company is set to pay at least $310 million under the terms of the settlement.
For its part, Apple is denying wrongdoing in the case and said it was only agreeing to avoid the cost and burden associated with the lawsuit.
Any U.S. owner of the iPhone 6, 6 Plus, 6s, 6s Plus, 7 Plus or SE that ran on iOS 10.2.1 or any of the later operating systems are covered by the settlement. Users of the iPhone 7 and 7 Plus which ran iOS 11.2 or later before Dec. 21, 2017 are also covered by the settlement.
Apple customers said their phone performance slowed down after they installed Apple software updates. The customers contend that Apple’s software updates intentionally degraded the performance of older models to encourage customers to unnecessarily upgrade to newer models or install new batteries.
Lawyers for Apple said that the problems were mainly due to high usage, temperature changes and other issues and that its engineers tried to address the problems as quickly as possible.
In February, Apple was fined $27 million by the French government for the same issue.
As we reported at the time:
A couple of years ago, Apple released an iOS update (10.2.1 and 11.2) that introduced a new feature for older devices. If your battery is getting old, iOS would cap peak performances as your battery might not be able to handle quick peaks of power draw. The result of those peaks is that your iPhone might shut down abruptly.
While that feature is technically fine, Apple failed to inform users that it was capping performances on some devices. The company apologized and introduced a new software feature called “Battery Health,” which lets you check the maximum capacity of your battery and if your iPhone can reach peak performance.
And that’s the issue here. Many users may have noticed that their phone would get slower when they play a game, for instance. But they didn’t know that replacing the battery would fix that. Some users may have bought new phones even though their existing phone was working fine.
Shares of Apple were up over 9% today in a general market rally.
Waymo, the former Google self-driving car project that is now a business under Alphabet, said Monday it raised $2.25 billion in a fundraising round led by Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company.
This is the company’s first external investment, which also included Magna, Andreessen Horowitz, and AutoNation and its parent company Alphabet.
“We’ve always approached our mission as a team sport, collaborating with our OEM and supplier partners, our operations partners, and the communities we serve to build and deploy the world’s most experienced driver,” said Waymo CEO John Krafcik said in blog the company posted Monday. “Today, we’re expanding that team, adding financial investors and important strategic partners who bring decades of experience investing in and supporting successful technology companies building transformative products. With this injection of capital and business acumen, alongside Alphabet, we’ll deepen our investment in our people, our technology, and our operations, all in support of the deployment of the Waymo Driver around the world.”
The round follows a flurry of activity in the past year that illustrated Waymo efforts to ramp up into a commercial enterprise. Much of the activity has focused on mapping and testing its autonomous vehicle technology in new locales such as Florida while continuing to expand its core fleet in Mountain View, Calif., and the Phoenix area.
Waymo has long focused on testing and eventually launching an on-demand ride-hailing service called Waymo One using its autonomous vehicles in the suburbs surrounding Phoenix. In October, Waymo began pulling safety drivers out of some of the vehicles on its Waymo One service.
But here have been other expansions, including a focus on finding new business applications for its autonomous vehicle technology such as delivery and trucking and even a plan to start selling its custom lidar sensors, to companies outside of self-driving cars such as robotics, security and agricultural technology.
In January, Waymo announced that it would begin mapping and eventually testing its autonomous long-haul trucks in Texas and parts of New Mexico.
Waymo has also expanded through acquisitions and partnerships. Waymo acquired in December a U.K. company called Latent Logic that spun out of Oxford University’s computer science department. The company uses a form of machine learning called imitation learning that could beef up Waymo’s simulation efforts. The acquisition marked the launch of Waymo’s first European engineering hub, which will be in Oxford, U.K.
Last spring, Waymo hired more than a dozen engineers from Anki, the robotics startup that shut down in April. The 13 robotics experts includes Anki’s co-founder and former CEO Boris Sofman, who is leading engineering in the autonomous trucking division.
TC Sessions: Mobility is back in San Jose on May 14, and we’re excited to give the first peek of what and who is coming to the main stage. We’re not revealing everything just yet, but already this agenda highlights some of the best and brightest minds in autonomous vehicles, electrification and shared mobility.
We’ve selected the most innovative startups and top leaders from established tech companies working in mobility. This past year saw huge leaps forward, and we’re thrilled to bring the latest and greatest to our stage.
This year, we’re holding a pitch-off competition for early stage mobility companies. More details to come.
Some speakers have already been announced, and more will be added to the agenda in the coming weeks, so stay tuned. In the meantime, check out this early look at the agenda:
9:35 AM – 10:05 AM
Reilly Brennan, Olaf Sakkers and two yet-to-be announced venture capitalists will come together to debate the uncertain future of mobility tech and whether VC dollars are enough to push the industry forward.
10:05 AM – 10:25 AM
10:25 AM – 10:50
Worldwide, numerous companies are operating shared micromobility services — so many that the industry is well into a consolidation phase. Despite the over-saturation of the market, there are still opportunities for new players. Dor Levi, head of bikes and scooters at Lyft, Danielle Harris, director of mobility innovation at Elemental Excelerator and Dmitry Shevelenko, founder at Tortoise will discuss.
10:50 AM – 11:10 AM
Waymo Chief Operating Officer Tekedra Mawakana is at the center of Waymo’s future from scaling the autonomous vehicle company’s commercial deployment and directing fleet operations to developing the company’s business path. Tekedra will speak about what lies ahead as Waymo drives forward with its plan to become a grownup business.
11:10 AM – 11:30 AM
11:30 AM – 11:40 AM
Live Demo. Coming soon!
11:40 AM – 12:00 PM
Argo AI has gone from unknown startup to a company providing the autonomous vehicle technology to Ford and VW — not to mention billions in investment from the two global automakers. Co-founder and CEO Bryan Salesky will talk about the company’s journey, what’s next and what it really takes to commercialize autonomous vehicle technology.
1:00 PM – 1:25 PM
Select, early-stage companies, hand-picked by TechCrunch editors, will take the stage and have 5 minutes to present their companies.
1:25 PM – 1:45 PM
Ike co-founder and chief engineer Nancy Sun will share her experiences in the world of automation and robotics, a ride that has taken her from Apple to Otto and Uber before she set off to start a self-driving truck company. Sun will discuss what the future holds for trucking and the challenges and the secrets behind building a successful mobility startup.
1:45 PM – 2:10 PM
Many micromobility services got off to a rough start with cities in the early days of the industry. Now, operators are making a point to work more closely with regulators from the very beginning. Hear from Spin co-founder Euwyn Poon and Uber Director of Policy, Cities and Transportation Shin-pei Tsay on what it takes to make a copacetic relationship between operators and cities.
2:10 PM – 2:30 PM
2:30 PM – 2:50 PM
Porsche has undergone a major transformation in the past several years, investing billions into an electric vehicle program and launching the Taycan, its first all-electric vehicle. Now, Porsche is ramping up for more. North America CEO Klaus Zellmer will talk about Porsche’s path, competition and where it’s headed next.
2:50 PM – 3:15 PM
Autonomous vehicle developers face a patchwork of local, state and federal regulations. Government policy experts Jody Kelman, who leads the self-driving platform team at Lyft, and Melissa Froelich Senior Manager, Government Affairs at Aurora, discuss how to get your startup back on the road safely.
3:15 PM – 3:35 PM
3:35 PM – 4:00 PM
TuSimple co-founder and CTO Xiaodi Hou and Boris Sofman, former Anki Robotics founder and CEO who now leads Waymo’s trucking unit, will discuss the business and the technical challenges of autonomous trucking.
4:00 PM – 4:20 PM
4:20 PM – 4:30 PM
Live Demo. Coming soon!
4:30 PM – 4:55 PM
Don’t forget to grab your tickets and join us this May.
Presidential candidate Joe Biden is likely to throw a fundraising lifeline to Silicon Valley donors after his commanding South Carolina victory and into the next wave of primaries.
A pro-Biden super Pac, Unite the Country — whose past backers include senior tech figures — is picking up efforts to tap wealthy donors, Treasurer Larry Rasky told CNBC. The group made several ad-buys in Super-Tuesday states (per a February 28 Federal Election Committee filing).
Source: FEC filing
Biden revived his presidential-bid from life-support with a resounding 29 point win over Bernie Sanders in Saturday’s South Carolina primary.
But after flailing in the first three contests — Iowa, New Hampshire and Nevada — the former Vice-President’s campaign has reportedly been running on financial fumes.
The last Federal Election Campaign disclosures before South Carolina’s democratic primary showed Biden with $7.1 million cash on hand, compared to Sanders’ nearly $17 million.
The race to become the Democratic-nominee for president is consolidating, post South Carolina, to a Sanders-Biden match-up — after Mayor Pete Buttigieg and billionaire Tom Steyer dropped out. Mayor Mike Bloomberg, who entered the race late, will be on the ballot for the first-time on Super Tuesday, though its not clear if he’ll shift dynamics between the front-runners.
To capture Sanders, who now leads Biden in the delegate count, Biden will need to close the fundraising gap between himself and the Vermont Senator, who doesn’t accept super Pac funds and has raised a large portion of his total $126 million presidential fundraising haul from small contributions.
Source: NBC News
For Democrats, fundraising is a big focus of campaign efforts in uncontested states (like New York and California) where they are nearly certain to win in the general-election. Areas with affluent residents, such as the Bay Area and Manhattan, have served as piggy-banks for tapping wealthy donors.
But a fundraising push by Biden and surrogates in Silicon Valley could further expose a political rift within big tech: that of founders and senior executives favoring a moderate candidate, while rank-and file workers “feel the Bern” on campaign donations.
FEC data and analysis by the LA Times and the Center for Responsive Politics indicate Bernie Sanders has substantially outperformed all candidates in garnering small-donations from workers in tech companies. By Times reporting, Sanders has raised $1 million, or nearly four-times as much as Biden, in small donations from employees at Google, Amazon, Apple, Microsoft, and Facebook.
This preference divide within big-tech could align with the differences in each candidate’s policy platforms. Biden’s positions are generally milder on initiatives to police and potentially split up big-tech companies, such as Facebook.
Founders and tech-workers in California will have a non-monetary opportunity to express their preferences in voting booths tomorrow — as the Golden State is one of 13 in the super Tuesday primary contest. Those results will roll into more primaries, more fundraising and a decision on the 2020 presidential nominee at the Democratic National Convention in Milwaukee this July.