Tue.Sep 18, 2018

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Lyft Launches Scooter Rentals In Santa Monica

socalTECH

Lyft just launched its own on-demand, electric powered scooter program in Santa Monica on Tuesday morning, as the on-demand scooter business continues to heat up. The launch is only the second city for Lyft's service, which also is available in Denver, Colorado. Lyft has some stiff competition in Santa Monica--the home of Bird--which already has scooters from Bird and Lime.

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WaveOptics Expands into Los Angeles

L.A. Business Journal

United Kingdom-based augmented reality firm WaveOptics Ltd. announced Sept. 17 it will open its first United States operation headquarters in Los Angeles.

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Elon Musk Sued By Thai Cave Diver

socalTECH

Technology mogul Elon Musk , the founder and CEO of Hawthorne-based SpaceX , has finally been sued by Thai cave rescue diver Vernon Unsworth, over statements Musk made on Twitter claiming that Unsworth was a "pedo" and "child rapist". Musk--who made the statements after beign shut out of the rescue efforts in Thailand--is being sued for $75,000, the statuatory minimum for defamation.

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Silicon Beach Report Sept. 18: Elon Musk’s Lunar Pick

L.A. Business Journal

SpaceX moon orbit passenger announced; Lyft, Bird scooters go live in Santa Monica’s pilot program; Snapchat to publish CBC news content

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Fair Launches New Adjustable Payments For Cars

socalTECH

Los Angeles-based Fair --a technology-enabled startup which lets people get access to a car with none of the traditional limitations and handcuffs of a lease--is making it even easier for people to get a car through its service, saying it has started to let drivers choose how much they want to spend each month for a vehicle. According to Fair, it has now started letting its car shoppers adjust the start fee and monthly payments on a car, to better fit their budgets.

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Viking Liver Drug Shows Promise for NASH, Shares Soar on Study Data

Xconomy

[ Updated, 2:45 pm ET, see below ] There is another update today in the competitive race to treat nonalcoholic steatohepatitis (NASH), an increasingly common liver disease with no FDA-approved therapies. Viking Therapeutics released preliminary results from a Phase 2 study suggesting its experimental drug might impact some of the disease’s many dangerous effects on the liver.

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15 San Diego Companies Chosen for Defense Innovation Program

Xconomy

A federally funded pilot program will provide 15 local defense contractors with free consulting services and six monthly “boot camp” workshops as part of a regionwide effort to help such companies better prepare to navigate changes in federal defense funding. Technology developed in San Diego for defense purposes has helped to seed the region’s private sector with employees who have skills in fields like cybersecurity, engineering, and biotechnology, as well as spur commercial innovation, accord

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SpaceX Names Passenger For Around The Moon Trip

socalTECH

Hawthorne-based SpaceX has unveiled the name of the person who has booked an around the Moon trip on its BFR rocket on Monday evening, saying that it's Japanese fashion mogul Yusaku Maezawa. According to SpaceX, Maezawa has paid a "substantial" deposit on the trip on the yet-to-launch BFR, the SpaceX manned rocket which is being designed to take a large number of humans to space--and potentially, as far as Mars.

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UiPath Snags $225M To Expand Robotic Workforce for Businesses

Xconomy

Top venture capital firms continue to pour money into software robotics companies that promise to automate monotonous business operations, like processing mortgage applications, that are often performed by humans. New York-based UiPath is the latest such company to score a haul, announcing Tuesday it raised $225 million in a Series C funding round co-led by earlier investor CapitalG —the growth equity investment fund of Google parent company Alphabet—and Sequoia Capital, a new invest

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Intellisense Systems Wins $4.89M USAF Contract

socalTECH

Torrance-based weather sensor developer Intellisense Systems said this morning that it has been awarded a $4.89M contract from the U.S. Air Force, for the company's compact "Micro Weather Sensor" product. The company said its unattended, 3.5 pound sensor is being deployed by the USAF and Department of Defense for real-time situational awareness. The company said the sensor was originally developed for the U.S.

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Biocom Opens New Bay Area Office, Forms Advisory Group

Xconomy

San Diego’s Biocom industry group announced Monday the latest development in its steady northward expansion. Biocom, which promotes and lobbies on behalf of life science companies, said it has opened a new office in the San Francisco Bay Area and formed an advisory board of local executives. The association, which represents more than 1,000 companies and organizations in the industry, primarily in California, said it has 275 members in the Bay Area, a total that it said is “steadily increasing.

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SolarReserve Ramps Up Project In South Australia

socalTECH

Los Angeles-based solar power plant developer SolarReserve says it has just signed a Memorandum of Understanding (MOU) with Heliostat SA, a South Australian company focused on the manufacture and assembly of heliostats and heliostat components, as part of its efforts on a huge solar thermal energy project in Port August, South Africa. Accoridng to SolarReserve, Heliostat SA will manufacture over 12,000 mirror assemblies in South Australia for its Aurora Solar Energy Project.

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Netflix Boosts Board

socalTECH

Netflix has boosted its board of directors, adding the chairman and CEO of major European publisher Axel Springer, Mathias Dopfner , to its board of directors. Axel Springer owns such brands as BILD, DIE WELT, Business Insider, and Politico Europe. Dopfner has been CEO of Axel Springer since 2002, having joined the company in 1998. He also serves on the board of Warner usic Group, and als ohad been on the board of Time Warner.

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Equillium Files For IPO

socalTECH

La Jolla-based Equillium , a developer of treatments for autoimmune and inflammatory diseases, has filed for an IPO on The Nasdaq Global Market. Equillium said it is looking to raise up to $86.25M in its offering, and says it has applied to list as EQ. The IPO is being underwritten by Jefferies, Leerink Partners, and Stifel. Equilium's main backer is Biocom SA, which owns 18.8 percent of the company before its IPO, along with management.

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RA Medical Systems Sets Estimated IPO Terms

socalTECH

Carlsbad-based RA Medical Systems , which is developing cardiovascular and dermatology catheters and excimer lasers, has set its estimated IPO range, saying in a regulatory filing that it is looking to sell 3,333,333 shares of its common stock at between $14.00 and $16.00 per share. The company has filed to trade on the New York Stock Exchange as RAMD.

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Report: Tesla Subject Of Criminal Probe Of Musk Tweets

socalTECH

Tesla Motors , one of the companies run by Los Angeles technology mogul Elon Musk, is reportedly being investigated in a criminal probe by the Department of Justice. According to Bloomberg on Tuesday, the investigation centers around Musk's tweets about taking Tesla private last month, and saying that he had "funding secured" to sell the company at $420 per share.

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