Weekly Roundup: Travis Kalanick sued by Benchmark, Snap and Blue Apron sink after Q2 earnings

Weekly Roundup: Travis Kalanick sued by Benchmark, Snap and Blue Apron sink after Q2 earnings

click photo for more information
Weekly Roundup: Travis Kalanick sued by Benchmark, Snap and Blue Apron sink after Q2 earnings
From Ubers former CEO Travis Kalanick getting sued by his companys lynchpin investors at Benchmark to Googles struggles with a recently fired employee over a gender diversity screed that went viral, its been a wild week in tech. Meanwhile, Snap and Blue Apron both reported disappointing earnings something we discuss in this weeks episode of […]

From Ubers former CEO Travis Kalanick getting sued by his companys lynchpin investors at Benchmark to Googles struggles with a recently fired employee over a gender diversity screed that went viral, its been a wild week in tech. Meanwhile, Snap and Blue Apron both reported disappointing earnings something we discuss in this weeks episode of the Equity podcast. From the boardroom to the trading floor, here are the stories that took Silicon Valley by storm this week.

This post exists primarily as the Weekly Roundup weekend newsletter. Sign up here to have it delivered to your inbox every Saturday.

1. Benchmark sues former Uber CEO Travis Kalanick

Benchmark, the Silicon Valley venture firm and early investor in Uber, has sued former CEO Travis Kalanick. The suit alleges that Kalanick committed fraud, breach of contract and breach of fiduciary duty. Both Kalanick and Benchmark hold Uber board seats. Benchmark accuses Kalanick of being selfish by packing Ubers board with loyal allies, and that the ousted CEO broke the law by trying to pave the way for his own return.If successful, the Benchmark lawsuit could kick Kalanick off the board of directors, makinghis return impossible.

2.Googles Sundar Pichai cancels internal meeting following firing of the employee behind gender diversity memo

After Google fired the employee behinda controversial memo on gender diversity that went viral within the tech industry,CEO Sundar Pichai cancelled a company town hall meeting where discussions about gender diversity were set to take place. Some employees fear that they may become harassment targets if they were to express unpopular opinions. In an email to employees, Pichai wrote, Googlers are writing in, concerned about their safety and worried they may be outed publicly for asking a question in the Town Hall.

3. Snap sinks as Q2 growth and revenue fall short

SnapsQ2 earningsreport was another failure on a long, downward path for the social media company as user growth slowed under the pressure of Instagram, reported TechCrunchs Josh Constine. It looks like Snaps cool factor may be wearing off, and the company will need a lot more than dancing AR hot dogs to fix its problems.

4. Blue Apron stock crashes after the companys first earnings report

Snap wasnt the only tech company having a really bad week. With Blue Apron, The problem quickly became getting customers to stick around and keep buying meals. This time around, the company was able to improve the health of its customer base as they are spending more money and buying slightly more meals, but it still has to show that it can grow that base even as it starts to pull back on marketing, writes TechCrunchs Matthew Lynley.

5. Coinbaseraises $100M led by IVP at $1.6B valuation

Bitcoin reached a record high valuation of $3,000 per coin to complete a rollercoaster week that began with the long-awaited split of the cryptocurrency. Now the most established wallet and exchange service, Coinbase announced a Series D funding round. The startup has been in the right place at the right time to capitalize on the excitement in the industry. In other cryptocurrency news,Filecoin, the much-anticipated cryptocurrency that will eventually power a distributed file storage system, opened its record-breaking ICO for accredited investors after raising $52 million from advisors.

6. SoftBanks Vision Fund backs Flipkart in record India tech investment

Flipkart confirmedthat SoftBank has invested in its business, viaits $100 billion Vision Fund, as part of anextension to the $1.4 billion financing roundannounced in April. The Vision Fund is buying a mix of primary and secondary sales, but the size of the investment is not disclosed. But we do know that the deal is the largest private investment in an India-based tech company, and it makes the Vision Fund one of the largest shareholders in Flipkart.

7. Toyota, Intel and others form a big data group for automotive tech

A collection of prominent names in the tech industry, including Denso, Ericsson, Intel and NTT Docomo, have teamed up with Toyota to work on developing big data systems to support self-driving cars and other future automotive advances. The companies have come together to tackle concerns around data usage in connected cars of the future,a critical component to making real-time mapping, driving assistance and other services go from theory to working in practice. Handling the huge volumes of data in a reliable and secure manner is critical, writes TechCrunchs Jon Russell.

Weekend reads

Breastfeeding mothers have a few options when it comes to next-generation breast pumps, but a lot of them are expensive and the market has not been claimed yet. There can be a lot of anxiety surrounding how much youre pumping and how much your baby is feeding. So what does the future look like for breast pumping tech? Read more in How high-tech breast pumps help new mothers reclaim their time.

Apple reported its earnings last week, and with a surprisingly positive report the shares spiked again as Apple signaled a potential huge iPhone release. The jump pushed Apples market cap to over$800 billion. If Apples promise plays out or exceeds what Wall Street hopes for the September quarter, we may soon be asking ourselves whether or not Apple really will fulfill the promise of a company that could hit a market cap of $1 trillion. Read on in How Apple could become a $1 trillion company.

Read more: https://techcrunch.com/2017/08/11/weekly-roundup-travis-kalanick-sued-by-benchmark-snap-and-blue-apron-sink-after-q2-earnings/

15 Things Ambitious Girls Do A Little Bit Differently When Theyre Dating

click photo for more information
15 Things Ambitious Girls Do A Little Bit Differently When Theyre Dating
1. Their relationship will not take up 100% of their life, but they will put 100% into their relationship. It’s important to ambitious girls to have other priorities and things going on outside of their relationship. But that doesn’t mean they won’t give it their all when it comes to being happy with someone. 2. […]

Why Anxiety Is The Plague Of The Modern World

click photo for more information
Why Anxiety Is The Plague Of The Modern World
Anxiety is feeling like a swarm of rats is eating your soul. Depression is feeling like it’s already been eaten. Raise your hand if you spend your time cycling between both. Hey, me too! High five. Sorry my hand is wet — I sweat when I get nervous, and that caused me to drop my […]

Mental health isn’t a fashion trend

click photo for more information
Mental health isn’t a fashion trend
Read more: http://imgur.com/gallery/j26RR

Youve been sitting on the toilet wrong your whole life. This is how to do it right.

click photo for more information
Youve been sitting on the toilet wrong your whole life. This is how to do it right.
We come up with all kinds of reasons why our stomachs feel upset or our digestion is out of whack. But, come to find out, it could all be a matter of improper toilet seat positioning. We take it for granted that we are just supposed to plop right down on the circular porselin commode […]

The results of the latest study about vaccines and autism are in, and they’re not surprising.

click photo for more information
The results of the latest study about vaccines and autism are in, and they’re not surprising.
Here’s the thing about science. Science! Photo from “Maniac”/Wikimedia Commons. It has a mind of its own. And sometimes, it won’t do what you want it to do. At least one anti-vaccine group recently learned this the hard way. Beginning in 2003, SafeMinds, a group that attributes the majority of new cases of autism to […]

This Guy Went Blind Because He Made A Simple Mistake Many People Make Every Night

click photo for more information
This Guy Went Blind Because He Made A Simple Mistake Many People Make Every Night
Contacts have been replacing glasses as the preferred eyewear for those with blurry vision for year. T he CDC is now estimating that over 30 million people worldwide utilize the little things. Some people even wear them for the cosmetic effects they can bring to the table, such as cats eyes, or the full black […]

This Comic Perfectly Explains Why Anxiety & Depression Are So Difficult To Fight

click photo for more information
This Comic Perfectly Explains Why Anxiety & Depression Are So Difficult To Fight
We all experience anxiety and depression at one point or another, but some of us experience these feelings chronically. It can be difficult for those who don’t suffer from these chronic disorders to understand those who do, so they can sometimes say some fairly insensitive things; “Why don’t you just get over it?” or “What […]

New poll shows Trump being thrashed by Bernie, Biden in 2020, edged out by Dem whippersnappers

click photo for more information
New poll shows Trump being thrashed by Bernie, Biden in 2020, edged out by Dem whippersnappers
Yes, the Daily Mail’s David Martosko was in discussions recently to become the Trump administration’s press secretary, but don’t let that color his advice on trusting PPP’s polls. Actually, following Election Day 2016, it’s probably best that every major political pollster include some sort of “For Entertainment Purposes Only” disclaimer with every new release. Before […]

WHO’S greedy? Bernie Sanders’ complaint about the Koch brothers is ‘mind-blowing’ irony

click photo for more information
WHO’S greedy? Bernie Sanders’ complaint about the Koch brothers is ‘mind-blowing’ irony
With Harry Reid set to retire soon, Bernie Sanders is trying to prove himself worthy of carrying on the Koch brothers obsession: Hilarious, coming from a guy like Sanders. How about a little perspective? And the speed of that spending will only accelerate if Sanders gets his wish list. Why is the federal government so […]

23andMe is finally allowed to tell you if you have the genes for Parkinsons

click photo for more information
23andMe is finally allowed to tell you if you have the genes for Parkinsons
The Food and Drug Administration finally gave 23andMe a long sought-after green light today to sell to consumers genetic tests and their accompanying health risk reports for up to 10 diseases, including late-onset Alzheimers and Parkinsons. In November 2013, the FDA put a moratorium on 23andMes ability to provide any health information associated with its […]

Johnson & Johnson Admits: Our Baby Products Contain Cancer Causing Formaldehyde

click photo for more information
Johnson & Johnson Admits: Our Baby Products Contain Cancer Causing Formaldehyde
Are You Using This Popular But Cancer-Causing Johnson & Johnson Shampoo? Naturally when you buy a product that is specifically marketed and made for babies, you assume that it is of the gentlest, most natural nature and doesnt contain any harsh ingredients that may be sensitive to our young ones. But what if one of […]

British bodybuilder dies of liver cancer due to drinking 6-7 energy drinks daily

click photo for more information
British bodybuilder dies of liver cancer due to drinking 6-7 energy drinks daily
Bodybuilding is perhaps one of the best forms of exercise. It is an anaerobic form of exercise in which the focus is to build muscle. Larger, stronger muscles have many benefits, the main one being you are simply making your own shell stronger so that you can function at a higher level, perform tasks easier […]

Facebook rolls out AI to detect suicidal posts before theyre reported

click photo for more information
Facebook rolls out AI to detect suicidal posts before theyre reported
This is software to save lives. Facebook’s new “proactive detection” artificial intelligence technology will scan all posts for patterns of suicidal thoughts, and when necessary send mental health resources to the user at risk or their friends, or contact local first-responders. By using AI to flag worrisome posts to human moderators instead of waiting for user […]

7 Cool Puzzles That Will Make Your Cat Work For His Food

click photo for more information
7 Cool Puzzles That Will Make Your Cat Work For His Food
Many pet cats are kept indoors for a variety of reasons in conditions that are perhaps the least natural to them. Indoor housing has been associated with health issues, such as chronic lower urinary tract signs, and development of problem behaviors, which can cause weakening of the humananimal bond and lead to euthanasia of the […]

So? Immigration officials say they’ll deport illegal who killed Kate Steinle

click photo for more information
So? Immigration officials say they’ll deport illegal who killed Kate Steinle
Jose Ines Garcia Zarate, the man found not guilty of murdering Kate Steinle, had been in a San Francisco jail before her killing but was released despite a federal request that he be held for his sixth deportation. That’s right — his sixth deportation. But now that he’s been found guilty of possessing a firearm […]
load more posts