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Photo: Chesnot/Getty Images

Intel is paying $900 million to buy Moovit, a data-rich app that helps people navigate cities using multiple modes of transportation from bikes and scooters to public transit and taxis.

Why it matters: The acquisition will help Mobileye, Intel's automated driving subsidiary, expand the breadth of its planned mobility services to include everything from self-driving vehicles and automated fleets to on-demand robo-taxi services.

Go deeper

Ben Geman, author of Generate
Aug 11, 2020 - Economy & Business

Nikola stock surge shows power of corporate buys of electric vehicles

Data: Yahoo Finance; Chart: Axios Visuals

The electric truck startup Nikola Motors' stock surged 22% Monday and the company now has a market capitalization of $17 billion. That's pretty, pretty good considering they have basically no revenue yet.

Driving the news: The bump came after Monday's announcement that the waste management company Republic Services has ordered at least 2,500 electric garbage trucks, with deliveries slated to start in 2023.

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

Erica Pandey, author of @Work
3 hours ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

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