This makes sense, SF benefited a lot from the social/mobile/on demand boom. Silicon Valley is set to benefit more from the AI/ML hype as this as stronger ties to academia, and also older, more academic type engineers who don't get as much value from living in the denser city of SF (that the mobile/social/on demand startups did).
Long term both cities will dominate and I don't see this as a structural change, this just seems like a shift based off of what is popular in VC funding right now.
"If you follow several of the steps I outline in this story (unless you go with Google Voice), you’ll end up with at least three email addresses: your current primary one, one just for your mobile carrier, and one that you use for other sensitive accounts such as online banking or Facebook or Dropbox."
Why not just have all sites that require SMS 2FA (there are a lot, including tele co.s) be directed to a personal google voice number? And also remove the any SMS 2FA from this google and your personal? Wouldn't that solve the issue they are suggesting? Why do you need a third account?
Yes but what you are describing is essentially unsecured debt. The government is guaranteeing your loans, why do you think student loan rates are so much cheaper than credit cards?
The price you pay for that guarantee is that you can't declare bankruptcy. The government is propping up this industry and it has some parallels to the US housing before 08 (encouraging lending to subprime homebuyers)
How can he claim they have poor tech & be secretive at the same time?
Within SDC circle, Hotz's company so far has shown some pretty poor demos. Really poor. I guess the salesmanship will him raise more $$ but its founded in anything but reality
In reality was a reference to the difference between why an acquisition price is reported as so high in the press yet appears on the financial statements as much less. This isn't unique to Cruise. Not a slight at this article.
From an accounting standpoint yes, but in reality they paid about $1B. Half was directly for the company, the other half was golden handcuffs. They are choosing to allocate the second to operating expenses and not acquisitions. To the employees of Cruise, still feels like a sweet billion. For once investors got less and employees got more, which is a refreshing change
How is this any different than Gawker using the legal system as a defense strategy? They print whatever they want, and good luck suing them, they'll wear you out in long legal battles with their deep pockets.
The only difference this time is they picked on a bully with bigger pockets.
I think the biggest thing everyone is glancing over is the wording of the app:
"If you have not formed the company yet, describe the planned equity ownership breakdown among the founders, employees and any other proposed stockholders."
Planned != official, no ? Couldn't cruise claim that the stock was never awarded
So if the issue of stock wasn't in writing for a Delaware company, then his 50% claim is not valid as he was never issued stock? I'm sure #2 is a non issue for Cruise
You should try this for admirals !