EV startup Canoo recently furloughed dozens of employees without pay and informed the remaining staff of a “mandatory unpaid break” until the end of the year, locking them out of company systems by the end of Friday. The company, facing financial challenges with only $700,000 in the bank last month, announced a reverse stock split and aims to attract more investors. Canoo, founded in 2017, has struggled to sell electric vehicles and has faced executive turnover, raising concerns about its financial viability.
Full Article
OpenAI Weighs 'Nuclear Option' of Antitrust Complaint Against Microsoft
OpenAI is considering filing an antitrust complaint against Microsoft, its largest investor, over potential violations in their contract, amidst tensions related to OpenAI's shift to a public benefit corporation. The dispute includes negotiations on Microsoft's investment terms and the future equity stake, with criticisms arising from figures like Elon Musk and Meta Platforms regarding OpenAI's profit motives. Need More Context? 🔎
Read more