venture capital industry
Silicon Valley Tech Workers Are Campaigning to Get ICE Out of US Cities
Even as Big Tech CEOs curry favor with President Trump, Silicon Valley employees are calling on their bosses to use their influence to help stop his immigration policies. The first Trump administration, and the tech industry that stood up to it, are both looking quainter by the day. Here's one example: In 2017, when President Trump issued a series of executive orders instituting a travel ban on foreigners from certain countries (predominantly Muslim-majority ones), people from across the United States vigorously protested the policy. They included some of tech's most elite: Google cofounder Sergey Brin, who joined a demonstration at the San Francisco airport; Amazon founder Jeff Bezos, who wrote a company-wide email outlining "legal options" that Amazon was considering to fight the ban; and Facebook founder Mark Zuckerberg, who took to Instagram to describe his own family's immigrant roots. On Saturday, hours after federal agents shot and killed ICU nurse Alex Pretti in the streets of Minneapolis, several prominent tech executives attended a private White House screening of, a documentary being released by (of course) Amazon MGM Studios. The timing was not lost on the group of Silicon Valley workers who recently launched ICEout.tech The letter, posted following Renee Nicole Good's killing earlier this month, has now been signed by more than 1,000 tech employees. Those workers, who come from across the spectrum of Big Tech companies and startups, are asking that executives use their clout to demand Immigration and Customs Enforcement agents leave American cities, that they cancel company contracts with the agency, and that they speak publicly about ICE's violent and deadly tactics. Worker-led demands like those were commonplace during Trump 1.0, when tech employees at the world's biggest companies often spoke out--internally and externally--about the cruelty of the US administration and the industry's role in facilitating or tempering its most craven policies. Meanwhile, the executives leading those companies have been busy kissing the ring-- over dinner at the White House or with outlandishly expensive documentaries nobody's watching--at every opportunity. Is the dam finally breaking? This week, Silicon Valley leaders including Anthropic heads Dario and Daniela Amodei, OpenAI CEO Sam Altman, and Apple CEO Tim Cook finally spoke out about ICE's outrageous overreach.
The Investors Trying to Fix the Most Toxic Company in Video Games
In July, the California Department of Fair Employment and Housing sued video-game giant Activision Blizzard, alleging, more or less, that the company has a workplace environment from hell. Regulators said a two-year investigation into the company revealed an alcohol-drenched "frat boy" culture that included inappropriate conduct by executives, men openly joking about rape, and a general "breeding ground for harassment and discrimination against women." The company called the lawsuit "truly meritless and irresponsible" (though it seemed to have some trouble figuring out how to respond), and more than 2,000 current and former employees responded by putting their names on an open letter that said, "We no longer trust that our leaders will place employee safety above their own interests." In early August, employees shared their salaries en masse, Bloomberg reported, to pressure the company into confronting pay inequities. One executive, Blizzard head J. Allen Brack, resigned.
SBCVC Joins 30M Seed Round In Chinese Cloud Robotics Start-Up - China Money Network - Daily News on China's Private Equity, Hedge Funds, and Venture Capital Industry
CloudMinds, a cloud robotics start-up founded by the former head of the research division of China Mobile, has raised US 30 million seed financing from SB China Capital (SBCVC), Hon Hai Precision Industry Co., Ltd., Walden International and Kaixuan Capital. Cloud robotics is an emerging field of robotics rooted in cloud computing and cloud storage centered around the benefits of converged infrastructure and shared services. Huang Xiaoqing left the Research Institution of China Mobile last March to launch CloudMinds, according to an article published by Caixin Media. "A robot with similar capabilities of a real human requires a computer system that may be one million times bigger in size than that of a human brain, which means the brain of a robot must be on the cloud," Huang told the Chinese media organization. CloudMinds is targeting to reveal a full-service housekeeping robot in 2025 to service individual families.