socalTECH

NOVEMBER 7, 2022

According to the U.S. Department of Justice, $3.3 billion worth of stolen Bitcoin was recovered from "a single-board computer that was submerged under blankets in a popcorn tin stored in a bathroom closet". The stash was located by the Los Angeles office of the Internal Revenue Service (IRS). The US DOJ said that the Bitcoin was stolen from Silk Road by defendant James Zhong, who pled guilty to wire fraud on November 4th.

Los Angeles 203

Los Angeles Services Angel 203

Startup Professionals Musings

NOVEMBER 7, 2022

After many years in business, working in large companies as well as startups, I’m no longer surprised at why mature and successful companies struggle with introducing innovative new ventures as the market and environment changes. Their track record is dire, with only twelve percent of the companies in the Fortune 500 from fifty years ago still even in business today.

Incubator 143

Incubator Seed Funding Metrics Customer 143

socalTECH

NOVEMBER 7, 2022

New York- and Los Angeles-based Xeal, a developer of electric vehicle (EV) charging technology, said last week that it has raised $40M in a Series B funding round. The funding was led by Keyframe Capital, and also included ArcTern Ventures, Moderne Ventures, Ramez Naan, plus Nexus Labs, Wind Ventures, and Alpaca VC. Xeal says it also received $10M in a credit line from Bridge Bank.

Venture Capital 113

Venture Capital Los Angeles Capital Funding 113

socalTECH

NOVEMBER 7, 2022

Has the purchase of Twitter by Elon Musk, for $44 billion, put the rest of his companies at risk? A report by Wired says that Elon Musk Is Overloaded, with the recent purchase and obsession with Twitter threatening Tesla, SpaceX, The Boring Company, and Neuralink.

Report 113

Report SpaceX Company Companies 113

Advertiser: Aggregage

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.

Company

socalTECH

NOVEMBER 7, 2022

Santa Monica-based game publisher Activision said today that it has hit $1 billion in revenue in just the first 10 days of the release of its latest title, Call of Duty: Modern Warfare II. The company said the revenue exceeded the previous record, which it set in 2012 in 15 days with its earlier title, Black Ops II. The company said that people have played more than 1 billion matches across PlayStation, Xbox, and PC so far on the new title.

Activision 113

Activision Santa Monica Company Companies 113

socalTECH

NOVEMBER 7, 2022

Another attempt by Rocket Lab to catch a rocket falling back from space--part of its plans for reusability--has failed, despite a successful launch of a payload into space. Rocket Lab did not say what went wrong with the helicopter catch, but it did successfully deliver the MATS satellite (Mesospheric Airglow/Aerosol Tomograph and Spectroscopy) into space for its client.

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