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Report: Fidelity Writes Down Investment in Snapchat

socalTECH

A report Tuesday in the Financial Times said that investment giant Fidelity has written its investment in Los Angeles-based Snapchat by 25 percent, citing data from a Morningstar report. It's unclear why Fidelity wrote down the value of its investment in the disappearing messaging service. READ MORE>>.

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Netflix employees stage a trans solidarity walkout, pose list of demands

TechCrunch LA

At the same time, Los Angeles-based trans activist Ashlee Marie Preston hosted a rally in solidarity with Netflix workers participating in the walkout. They want Netflix to address a list of demands in the categories of content investment, employee relations and safety, and harm reduction. brb walking out.

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

TechCrunch LA

The Facebook parent-company saw its stock price get bludgeoned after a bad earnings report showcased that Apple’s ad-blocking changes are shaving billions off its books and the company’s crown jewel — the Facebook platform — has stopped growing and actually shrank this quarter. Image Credits: Facebook. the big thing.

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Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals

Xconomy

Venture capital activity is gradually easing from last year’s peak, according to a new quarterly report put together by Seattle-based PitchBook and the National Venture Capital Association. VC firms invested $14.99 It was the fifth straight quarterly decline in the number of companies getting VC funding, according to the report.

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The makers of the virtual influencer, Lil Miquela, snag real money from Silicon Valley

TechCrunch LA

Last week, the Los Angeles-based startup led by Trevor McFedries , outed itself as the collective consciousness behind the virtual celebrity Lil Miquela and her less well known contemporaries Blawko22 and BermudaisBae in a choreographed melodrama worthy of Los Angeles’ best reality television. ” That was a lie.

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Timing and why we’re all VCs

TechCrunch LA

When should a VC invest? Start writing down predictions about people, companies, and markets. It’s the only way forward in capitalism, and it’s worth every investment you can make. Theodore Schleifer at Recode reported a rare deep dive into the internal intrigue at a prominent VC firm, in this case Mithril Capital.

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Transportation Weekly: Uber’s spending habits, Tesla Model Y, scooters and AVs in Austin

TechCrunch LA

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. This is where investigative reporting, enterprise pieces and analysis on transportation lives. After five days in Austin for SXSW, I headed to Los Angeles, actually Hawthorne, for Tesla’s Model Y unveiling.