Meta’s Reality Labs has reported $45 billion in losses over the past four years due to chaotic management and frequent leadership changes. Further losses are expected as the division struggles in a competitive AR and VR market.
Sectors
UK Astronaut Tim Peake Joins Axiom Space in Bid to Launch All-Brit Mission
Commercial spaceflight company Axiom Space announced this week that they have welcomed retired British astronaut Tim Peake into its professional astronaut pool.
Nokia Phonemaker HMD Launches Project to Make Devices Child-Friendly
HMD, the Finnish phonemaker more known for the redevelopment of the Nokia mobile phone series, announced the launch of its Better Phone project, with an aim to make mobile devices safer and friendlier for children and teenagers.
Elon Musk Says Tesla’s Robotaxi Service to Launch on Oct. 10
Tesla CEO Elon Musk said that the company would be delaying the launch of its long-awaited robotaxi service on Oct. 10, around two months after the planned date.
PA-Based Federal Judge Denies Blocking FTC’s Noncompete Ban
A Pennsylvania-based federal judge ruled to decline calls to block bans on noncompete agreements issued by the Federal Trade Commission, which was a divergence from an earlier decision at a Texas counterpart earlier this month.
Latest News
Chinese flying taxi company EHang has moved closer to launching its commercial air mobility services as China's Civil Aviation Administration begins reviewing its air operator certificate application.
Five days after a global tech outage caused by CrowdStrike, Delta Air Lines is still struggling to recover as it reported over 6,000 flights canceled recently and an estimated financial impact of $163 million.
Donald Trump and the RNC gained a financial edge over Democrats by June, but a historic fundraising surge followed Biden's withdrawal and endorsement of Kamala Harris.
The messaging app Telegram has reached 950 million active users and is expected to have a billion by the end of this year.
Tech billionaire Elon Musk said in a Daily Wire interview that his perspectives regarding gender ideology and population are deeply personal after he had to deal with one of his sons deciding to cut ties with him by changing both name and gender.
Monarch Tractor CEO Praveen Penmetsa recently announced that it has raised $133 million through its Series C funding.
Current software services that are available for coaches are often fragmented and hard to navigate because they aren't created for coaches and sports teams, resulting in greater inefficiencies and higher costs. The current market also lacks the tools they need most, a solution for playbook creation, game planning and film review, and a dedicated community platform that caters specifically to coaches' unique needs. That is where Clipboard Nation comes in.
French private equity firm L Catterton reportedly approached toymaker Mattel with an offer to acquire it, according to several sources quoted by Reuters.
Nvidia is developing a modified version of its new flagship AI chip, the "B20," specifically for the Chinese market to bypass U.S. export restrictions.
