A new disclosure shows, again, how badly Tiger’s ‘pray and spray’ fund performed

Posted on December 10, 2024 by Techme101

Tiger Global famously fueled the pandemic-era venture capital boom, investing heavily in a wide range of startups, setting up bidding wars for even the most unproven startup that led to sky-high valuations. In 2021 alone, the hedge fund backed 315 startups, according to PitchBook data. And much of the VC industry was not happy about […]
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US sanctions Chinese cybersecurity firm for firewall hacks targeting critical infrastructure

Posted on December 10, 2024 by Techme101

The U.S. sanctioned a Chinese cybersecurity company and one of its employees for exploiting a zero-day vulnerability in Sophos firewalls to target U.S. organizations. On Tuesday, the U.S. Treasury Department said Guan Tianfeng, an employee of Sichuan Silence, used the vulnerability to compromise approximately 81,000 firewalls in April 2020. The hacking campaign, detailed by Sophos […]
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Oracle shares head for worst day of 2024 after earnings miss

Posted on December 10, 2024 by Techme101

Oracle shares fell on Tuesday following disappointing quarterly results from the database software company.

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Phhhoto’s antitrust claim against Meta is heading back to the courts

Posted on December 10, 2024 by Techme101

A U.S. appeals court has overturned a decision in an antitrust lawsuit against Meta, which was filed in in late 2021 by the long-shuttered social app Phhhoto. In court, the startup alleged that Meta violated U.S. antitrust law by copying its core features and suppressing competition. U.S. District Judge Kiyo Matsumoto in 2023 granted Meta’s […]
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US Senator announces new bill to secure telecom companies in wake of Chinese hacks

Posted on December 10, 2024 by Techme101

U.S. Democratic Senator Ron Wyden announced a new draft bill with the goal of securing American telephone networks and Americans’ communications in response to the massive hack of telecom providers allegedly done by Chinese government hackers.  In a press release on Tuesday, Wyden announced the Secure American Communications Act. The bill would order the Federal […]
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CarDekho SEA raises first-ever outside funding, co-founder says he’s interested in acquisitions

Posted on December 10, 2024 by Techme101

CarDekho SEA, a Singapore-based auto financing service platform, has raised $60 million in equity, valuing the company at over $300 million, from Navis Capital Partners and Dragon Fund. This is its first round of external funding, following a previous investment of $40 million from its parent company, CarDekho Group. The company, the Southeast Asia unit […]
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How Crypto Insiders Turned ‘Debanking’ Into a Political Storm

Posted on December 10, 2024 by Techme101

Concerns that crypto companies are being purposely cut off from the global banking system have become a political cudgel at an opportune moment for the industry.

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Google Makes New Quantum Computing Breakthrough

Posted on December 10, 2024 by Techme101

Google unveiled an experimental machine capable of tasks that a traditional supercomputer could not master in 10 septillion years. (That’s older than the universe.)

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China Investigates NVIDIA for Allegedly Breaking Monopoly Law

Posted on December 10, 2024 by Techme101

China conditionally approved NVIDIA’s acquisition of Mellanox in 2020, but the investigation announcement suggests the AI chipmaker may not be meeting the conditions.

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San Francisco is the most prepared city for new transportation tech

Posted on December 10, 2024 by Techme101

San Francisco is the most prepared city for new transportation technologies like AI, autonomous vehicles, and air taxis, according to an new urban mobility readiness index released Tuesday. The index, created by the Oliver Wyman Forum and the University of California, Berkeley, evaluated 70 global cities on a range of factors such as walkability, air […]
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