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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. Snapchat--arguably, the most visible "unicorn" startup in Southern California--had been valued at $15 billion in its last fundraising round.

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Why not share your liquidity success with those who got you there?

Berkonomics

Some companies, especially those financed by angel or VC investors, have good, formal stock option plans with properly priced options set to reward all employees and managers in the event of a corporate sale. And those that are total write-offs in which no one except perhaps the bank and lenders receive anything.

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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. When asked in an interview with the Hollywood Reporter , co-CEO Ted Sarandos didn’t say whether he would meet the group’s demands. brb walking out.

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As Quibi reportedly seeks another $1 billion, Fiction Riot fills the programming slate for its rival service

TechCrunch LA

The Los Angeles-based company has already launched a beta version of its streaming service, Ficto , and yesterday announced a host of new shows that will appear on the app later this year. Michael Scott is simultaneously writing a pilot for linear television. Feist novels have sold over 20 million copies.

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Southern California needs to find its hub for it to develop its own tech ecosystem

TechCrunch LA

Recognizing the tens of billions of dollars that the Southern Californian region leaves on the table, because it hasn’t taken its rightful place in the American technology industry, a new group called the Alliance for Southern California Innovation has just released a report to analyze how SoCal can work to assume its pole position.

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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. deals (1,796 companies) during the third quarter that ended September 30, according to the inaugural “Venture Monitor” report released today.