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Hackers claim ransomware attack on Los Angeles housing authority

TechCrunch LA

The Housing Authority of the City of Los Angeles, or HACLA, has confirmed it is investigating a cybersecurity incident shortly after the LockBit ransomware gang claimed responsibility for a cyberattack on the agency. LockBit’s claimed attack on HACLA marks the second major cyberattack on a Los Angeles city agency in recent months.

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What Does the Post Crash VC Market Look Like?

Both Sides of the Table

The market was down considerably with public valuations down 53–79% across the four sectors we were reviewing (it is since down even further). ==> Aside, we also have a NEW LA-based partner I’m thrilled to announce: Nick Kim. Probably not and 10x (May 2022) seems more in line with the historical trend (actually 10x is still high).

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Support.com In Merger With Bitcoin Mining Company

socalTECH

Support.com, a publicly led outsourcing company led by Los Angeles resident Lance Rosenzweig, who serves as President and Chief Executive Officer, says it has merged with a bitcoin mining company, Bitcoin Miner Greenidge Generation Holdings Inc.

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How long can Zuckerberg afford to bankroll the AR/VR market?

TechCrunch LA

Hello friends, and welcome back to Week in Review ! This writeup from industry analyst Karl Guttag showcases how Magic Leap has turned away from several of the key technologies it raised billions of dollars to develop with its latest hardware which he nevertheless believes will “blow away” the HoloLens 2 in image quality.

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Timing and why we’re all VCs

TechCrunch LA

Pro tip: take on the mantle of book editor for a major tech publication, and the publishers will mail you books for free. Quality tech news from around the web. Today, the Los Angeles Economic Development Corporation (LAEDC) published its updated economic forecast for LA and the Southern California region.