Sequoia Capital told its investors on Friday that some of their personal and financial information may have been accessed by a third party, after a Sequoia employee's email was successfully phished, Axios has learned.
Why it matters: Sequoia is one of the largest and most successful venture capital firms in the world, with portfolio companies like Airbnb, DoorDash, and Robinhood. It also has invested in cybersecurity firms like FireEye and Carbon Black.
Cryptocurrency exchange Coinbase was valued at just over $100 billion in a recent private market share sale ahead of its upcoming public listing, Axios has learned from multiple sources.
Why it matters: Coinbase could go public at a higher initial valuation than any other U.S. tech company since Facebook.
While competitors like GM and Volkswagen are going all-electric, Toyota argues that a mix of hybrids, plug-in hybrids and EVs is better for the environment.
Why it matters: Battery electric vehicles (BEVs) aren't for everyone, and a new analysis shows that even people who own BEVs don't drive them as far as the average gasoline-powered car.
Ford CEO Jim Farley and former California clean air regulator Mary Nichols are heading a coalition of business, tech and policy leaders that hopes to rethink mobility policy in a systemic, interconnected way.
Why it matters: Transportation is undergoing the biggest transformation in a century, but government policies and infrastructure haven't kept pace. The Commission on the Future of Mobility aims to close that gap with research and advocacy.
IBM (NYSE: IBM) is considering a sale process for its Watson Health business, with both private equity and SPACs viewed as options, per multiple media reports.
Why it matters: This reflects how CEO Arvind Krishna is willing to drop weighty baggage as he aims IBM at the cloud, where rivals like Amazon and Microsoft are miles above.
Traffic to Australian news sites within Australia from Facebook links plummeted following Facebook's decision to stop allowing users and publishers to share links on its platform Wednesday, according to data from Chartbeat.
Why it matters: Usually when Facebook's app goes down fully, news traffic will shift to other platforms. But because only link-sharing was restricted, it resulted in people visiting fewer news sites in Australia overall.
A key member of the Federal Reserve's board said climate change is "already imposing substantial economic costs" as she laid out new information about the Fed's approach to the topic.
Why it matters: Lael Brainard's remarks signal the Fed's deepening involvement in the nexus between global warming and the financial system.
Venture capital firms, formed to invest in startups, are increasingly becoming sponsors of SPACs, blank-check companies that bring later-stage businesses into the public markets. It's significant strategy creep, but so far there hasn't been much opposition from venture capital fund investors, known as limited partners.
Be smart: SPACs are similar to VC in spirit and skills, which is how firms are selling it to their own investors.
Short positions in U.S. equities have declined significantly since "meme stocks" like GameStop exploded higher earlier this year, S&P Global Market Intelligence data show.
By the numbers: At the end of January, the percentage of outstanding shares of S&P 500 companies held by short sellers averaged 3.1%, down from 4.1% a year ago.
In contrast to the dwindling confidence of most U.S. consumers, CEOs have not felt as good about the economic outlook as they do now in nearly 20 years.
By the numbers: The Conference Board's latest quarterly reading of CEO confidence rose to its highest since the first quarter of 2004.
Optimism is rising as coronavirus cases recede, vaccinations increase and economists price in a strong recovery for the U.S. economy through 2021 — but beneath blowout retail sales reports and rising GDP expectations, many Americans are still struggling to stay afloat.
Driving the news: A report released today surveying more than 11,000 small business owners and thousands more employees and consumers by Facebook finds that things had only improved slightly in December for most since its last survey in the throes of the coronavirus pandemic in April.
Acast, one of the largest podcast hosting and monetization companies, has acquired RadioPublic, the podcast technology startup founded by nonprofit Public Radio Exchange (PRX).
Why it matters: It's the latest in a flurry of deals around podcast monetization and advertising. On Wednesday, iHeartMedia acquired podcast tech and measurement company Triton Digital from The E.W. Scripps Company for $230 million.
Hybrid-electric aircraft will soon kick off a new era of cleaner air travel, just as the pioneering Toyota Prius heralded the start of the electric car movement 20 years ago.
Why it matters: Replacing small regional planes that run on fossil fuels with hybrid or electric aircraft would help reduce climate-damaging CO2 emissions. It could also make air travel easier and cheaper for people living in smaller cities not served by major airlines.
The United Kingdom's Supreme Court ruled Friday that Uber drivers should be classified as "workers" and not self-employed independent contractors, dealing a major blow to the ride-hailing giant's business model.
Why it matters: Uber has 65,000 active drivers in the U.K., according to the AP. The ruling could have major implications for the gig economy in Britain writ large.
