Name: Larry Page's Air Taxi Startup Sues Rival Archer Aviation
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Larry Page's Air Taxi Startup Sues Rival Archer Aviation

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ShareShareEndeavor, an entertainment company that owns several businesses including the Ultimate Fighting Championship ( UFC)  sports league, has filed for an initial public offering (IPO) once again after abandoning an earlier effort in 2019. Endeavor has sought to go public again after it abandoned earlier efforts to do so due to unfavorable market conditions. It has made some notable changes as it's seeking an IPO for the second time, including the nomination of Tesla and SpaceX CEO Elon Musk to its board of directors. According to its S-1 filing , Endeavor brought in $3.48 billion in revenue for 2020, down from $4.57 billion the previous year. The revenue drop over the year isn't surprising as the 2020 pandemic negatively affected live entertainment activities, particularly the UFC live events for Endeavor. Endeavor's major businesses are the UFC sports league and talent and marketing agencies WME and IMG. Its three primary business segments are sports leagues, talent representatShareMusic mogul Scooter Braun has sealed a deal to sell his media company Ithaca Holdings to HYBE, a South Korean entertainment company that's home to the mega-popular boy band BTS.  HYBE will buy 100% of Braun's Ithaca Holdings through its wholly-owned subsidiary HYBE America. With its purchase, it'll take over Ithaca's two main businesses which are  SB Projects , a music management and marketing firm whose clients include Justin Bieber and Ariana Grande; and record label Big Machine Records . Braun pulled together a deal to buy Big Machine Records for $300 million in 2019. His company Ithaca Holdings financed the purchase with an investment from private equity firm Carlyle Group, which's now exiting all of its stake in the company to HYBE. Braun's deal to buy Big Machine Records famously saw him spar with pop star Taylor Swift who launched her storied career at the record label. Swift complained of Ithaca buying Big Machine Records which included the masters of hShareJapanese investor SoftBank has made a big bet in the biotech world, this time on a publicly-traded genetic testing company named Invitae (NYSE: NVTA). SB Management, a SoftBank subsidiary, led a $1.2 billion convertible bond investment for Invitae that gives the company ample cash to further its growth initiatives. SB Management is SoftBank's asset management group that owns billions of dollars in global stocks. It's separate from SoftBank's famed $100 billion Vision Fund that also makes big bets on global companies. By leading a $1.2B investment in Invitae, SoftBank has added the company to its list of major biotech public holdings which also include Canadian antibody developer AbCellera, 4D Molecular Therapeutics Inc, and DNA-sequencing company Pacific Biosciences of California Inc. Invitae is a genetic testing company offering test services for diseases in a range of areas, including neurology, pediatric genetics, and reproductive health. The company's appeal lies inShareMicrosoft has won a big contract to equip the US Army with special versions of its HoloLens augmented reality (AR) headsets following a $480 million prototyping contract that was declared successful.  After successful prototyping, Microsoft's deal to equip the US Army with HoloLens AR headsets has moved into the production phase, with an order for over 120,000 units of the device. It's a supply contract potentially worth $21.9 billion over the next 10 years, Microsoft confirmed to CNBC . In its press release , the US Army confirmed its order of HoloLens AR headsets for its infantry and stated that the program is aimed "to deliver next-generation night vision and situational awareness capabilities to the Close Combat Force (CCF) at the speed of relevance." It implies that the HoloLens headsets will see their use in the warfront. The program under which the US Army has sought Microsoft's HoloLens is dubbed "Integrated Visual Augmentation System (IVAS)." IShareIt's been reported that Pinterest, the famous social bookmarking site, is holding talks to buy VSCO, a popular photography app with a social aspect. Pinterest has held talks to buy the popular photo app according to The New York Times . Though not confirmed, Pinterest is an ideal suitor in a case where VSCO is seeking to sell to another company. Both companies overlap very much, being in the social media space with a focus on high-quality images and videos. As to price, Pinterest can very much afford VSCO thanks to a large cash balance of nearly $700 million as of the end of 2020 and a market value of $49 billion if shares are used to finance the purchase.  VSCO, a ten-year-old startup, has raised about $90 million in funding and was valued at $550 million from its last funding round. Given that, a Pinterest acquisition would likely be priced in the hundreds of millions of dollars or even over a billion. VSCO is a very popular app with 100 million registered users. of which over twShareYou can say it's a sad day for the smartphone industry, as it just lost one of its major players. That lost player is South Korea's LG Electronics, which has announced  that it's shuttering its mobile phone business worldwide to focus on other sectors. The decision from LG effectively pulls it out of the smartphone business where it worked hard and tried as much as possible to gain a foothold but is apparently not satisfied with its outcome.  Officially, LG Electronics will wound down its mobile phone business on the 31st of July, 2021, meaning no more new inventory of LG smartphones. The company says it'll continue to provide support and software updates for current LG mobile owners for a "period of time", albeit unspecified, that'll vary by region.  LG's smartphone business is known to have lost money for years, so it seems that LG got tired of bleeding cash in a business that's rife with intense competition globally. Rumors flying around is thatShare  Yet again, Jeff Bezos's e-commerce giant Amazon is in hot water with regulators for messing with the wages of its workers, in this case its drivers. The company is set to pay a fresh $8.2 million penalty in a class action settlement for wage violations, as indicated by a court settlement notice  for eight former Amazon delivery driver contractors in the Seattle area in Washington state. The $8.2 million fine is yet another entry into the long list of fines that Amazon will pay as penalties for apparent wage theft, coming just a week after the state of California fined the company $6.4 million  for failing to pay overtime and and offer rest breaks to over 700 contracted delivery drivers in Southern California between 2018 and 2020. Shortly before California's fine, Amazon also agreed to pay a $62 million fine levied by the Federal Trade Commission (FTC)  for pocketing delivery drivers' tips. Tracing back to other years, the company has numerously landed in hot water with rShareThe state of New York led by Governor Andrew Cuomo has moved to launch a "vaccine passport" offering an easy way for residents to share their Covid-19 vaccination or negative test status in accordance with state guidelines. The aim of the app, named Excelsior Pass , is to provide an easy way for organizers of mass gatherings to verify the status of their attendees in order to prevent the spread of the coronavirus. Excelsior Pass was developed by New York state in partnership with IBM, whose blockchain platform forms the basis of the app. It works by having a secure QR code which participating businesses and venues can scan using a companion app to get proof of vaccination or Covid-19 negative test results to permit entry for customers. The Excelsior Pass isn't that complex, being similar to a mobile airline boarding pass. Just as in the case of a boarding pass, New York state residents can either print out their pass or store it on their smartphones using the Excelsior PShareCoinbase, the popular cryptocurrency exchange that's on its way to a blockbuster IPO , has been fined to the tune of $6.5 million by the US Commodity Futures Trading Commission (CFTC) to settle charges of "reckless false, misleading, or inaccurate reporting" and "wash trading" by the crypto exchange. Coinbase has been ordered to pay a $6.5 million civil monetary penalty and cease and desist from any further violations of the Commodity Exchange Act or CFTC regulations, as charged. Coinbase's charges of  " reckless false, misleading, or inaccurate reporting"  stems from allegations of the company failing to disclose to the CFTC as required that it was operating more than one automated trading program and trading through multiple accounts on its own GDAX trading platform (now Coinbase Pro).   The automated trading led to perceived trading and liquidity volumes that were misleading to traders and data brokers and such was illegal. For the charges of &qShare

ShareShareEndeavor, an entertainment company that owns several businesses including the Ultimate Fighting Championship ( UFC)  sports league, has filed for an initial public offering (IPO) once again after abandoning an earlier effort in 2019. Endeavor has sought to go public again after it abandoned earlier efforts to do so due to unfavorable market conditions. It has made some notable changes as it's seeking an IPO for the second time, including the nomination of Tesla and SpaceX CEO Elon Musk to its board of directors. According to its S-1 filing , Endeavor brought in $3.48 billion in...

Larry Page's Air Taxi Startup Sues Rival Archer Aviation

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