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EV startups are burning through cash. Can they attract more investment?
In September 2020, Hindenburg Study introduced its report on Nikola, saying it was “an intricate fraud.” The firm acknowledged a truck appearing to cruise down a desert street under its personal electrical power in a online video was not. The SEC released an inquiry. Eventually, Trevor Milton, Nikola’s founder, was convicted of fraud. Nikola settled with the SEC for $125 million. In 2021, J Cash Exploration posted a report contacting Faraday Upcoming “nothing but a bucket to obtain funds from U.S. traders and pour it into the black hole of personal debt designed by its founder.” A enterprise spokesperson explained “the substantive allegations of inaccurate disclosures” in the report “ended…
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SVB Collapse Rattles Travel Startups
As the Biden administration attempts to allay panic in the U.S. banking procedure adhering to final week’s collapse of Silicon Valley Bank, analysts following the vacation tech sector say begin-ups might have some limited-time period money challenges, but the threat of longer-phrase implications has eased. The next-largest financial institution failure in U.S. background, the Federal Deposit Coverage Corp. took manage of SVB, which performs with a significant part of U.S. and U.K. startups, on Friday adhering to a run on deposits. That led to a “serious scramble” for Silicon Valley companies, Vacation Tech Consulting president and founder Norm Rose explained. “Any time you won’t be able to withdraw your revenue…
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China’s Automotive Slowdown: Tesla And The EV Startups (NASDAQ:TSLA)
Xiaolu Chu Introduction The sales year started off with a whimper. First, the covid stimulus package for the auto industry – a cut from June 1-Dec 31 of the car sales tax from 10{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} to 5{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} – expired. Those planning to buy cars in early 2023 instead made their purchases last year. In addition, the Chinese central government has been winding down its incentives for New Energy Vehicles (NEVs) for several years. They, too, expired at the end of 2022. That pulled planned NEV sales from 2023 into 2022, over and above the impact of the covid tax cut. In other words, electric vehicle (“EV”) sales in late 2022 were…
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Telehealth startups sent sensitive health data to big tech companies
Open the website of Workit Health, and the path to treatment starts with a simple intake form: Are you in danger of harming yourself or others? If not, what’s your current opioid and alcohol use? How much methadone do you use? Within minutes, patients looking for online treatment for opioid use and other addictions can complete the assessment and book a video visit with a provider licensed to prescribe suboxone and other drugs. But what patients probably don’t know is that Workit was sending their delicate, even intimate, answers about drug use and self-harm to Facebook. advertisement A joint investigation by STAT and The Markup of 50 direct-to-consumer telehealth companies…
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