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Technology

Tesla Held Responsible in Autopilot Crash: $200M in Punitive Damages Awarded

A federal jury in Miami found Tesla partially responsible for a fatal 2019 crash involving Autopilot. The plaintiffs were awarded $200 million in punitive damages. The crash, which killed Naibel Benavides Leon and injured Dillon Angulo, was attributed to both the driver and Tesla's Autopilot system. The jury assigned two-thirds of the blame to the driver and one-third to Tesla. The verdict marks a significant legal decision against Tesla regarding its driver assistance technology. Tesla plans to appeal the verdict, citing errors of law and irregularities at trial.

Business and Finance

Windsurf's Google Deal Aftermath: VC Windfall and Employee Discontent

The acquisition of Windsurf by Google for $2.4 billion has stirred controversy in Silicon Valley, particularly regarding the distribution of funds. While VCs (Greenoaks, Kleiner Perkins, General Catalyst) and the co-founders (Varun Mohan, Douglas Chen) benefited significantly, many of Windsurf's 250 employees were left without a payout.

Google split the payment into two $1.2 billion portions: one for investors and one for employee compensation. Investors saw returns of about 4x their original funding. Greenoaks made approximately $500 million on their $65 million investment, and Kleiner Perkins returned about 3x its invested capital.

Approximately 200 Windsurf employees not hired by Google did not receive a payout, despite the company retaining over $100 million in capital. This decision has drawn criticism, with some suggesting the funds could have been used to compensate all employees. Some Google-hired employees had their stock grants revoked and vesting timelines reset.

Vinod Khosla criticized Windsurf's founders for not sharing the proceeds with the team. Following the Google deal, Windsurf's remaining entity was acquired by Cognition, allowing all remaining employees to benefit financially. Cognition reportedly paid $250 million for Windsurf’s IP and product.

Social Media

Instagram Limits Live Feature to Accounts with 1,000+ Followers

Instagram now requires users to have a public account with a minimum of 1,000 followers to go live.

This change restricts the live feature, previously available to all users regardless of follower count or account privacy.

The new requirement aligns Instagram with TikTok, which also mandates 1,000 followers for live streaming, while YouTube requires only 50 subscribers.

Instagram states the move aims to improve the overall Live consumption experience, potentially by limiting lower-quality streams and saving on hosting costs.

Users have expressed displeasure, with some requesting the change be reversed.

Social Media & Charity

TikTok Introduces 'TikTok Pro' with Charity Support in Europe

TikTok has launched 'TikTok Pro' in Germany, Portugal, and Spain, featuring the 'Sunshine Programme.'
Users earn 'virtual sunshine' by engaging with charity content and inviting new users, which TikTok then converts into donations to charitable organizations.
'TikTok Pro' offers the same content as the standard app but excludes live streams, shopping features, and ads, focusing on charitable support.

Cybersecurity

International Operation Dismantles BlackSuit Ransomware Infrastructure

A joint U.S.-European operation led by German prosecutors has seized the infrastructure of the BlackSuit ransomware gang. The operation, conducted on July 24, involved seizing the gang's servers and systems, securing considerable amounts of data to identify those responsible. The servers were switched off, effectively halting the ransomware malware. BlackSuit had targeted 184 victims worldwide, including several in Germany. The gang's leak site on the dark web is now displaying a seizure notice. The operation included help from ICE’s Homeland Security Investigations unit and Europol. BlackSuit has targeted U.S. cities and organizations in various industries. In 2024, CISA warned that the gang was rebranding from Royal to BlackSuit.

Energy Efficiency

Pearl Edison Partners with Utilities to Simplify and Reduce Costs of Home Energy Efficiency Upgrades

Pearl Edison, a Detroit-based startup, is collaborating with utilities to streamline and reduce the cost of home energy retrofit projects like installing solar panels and heat pumps. They have raised $3.3 million in seed funding from New System Ventures and Commonweal Ventures.

The company partners with utilities to identify potential customers for energy upgrades and creates a white-labeled website to facilitate sign-ups. Pearl Edison uses data to generate guaranteed price quotes and sends workers to verify plans before finalizing the design.

By working directly with utilities, Pearl Edison aims to reduce customer acquisition costs and offer homeowners savings on energy efficiency upgrades. They currently have programs with DT Energy in Michigan, Duquesne Light in Pittsburgh, and the city of Ann Arbor, Michigan, and plan to add more utility partners this year.

Venture Capital & Gender Equality

Women's Advancement in Venture Capital: A Decade of Progress

A recent report by All Raise indicates significant progress for women in venture capital. Women now hold 18.6% of top roles at leading VC firms, doubling the percentage since 2018.
The report highlights that many women received promotions last year, and investors are actively seeking to back underrepresented founders (75% of investors).
While few women lead mega-funds ($3 billion or more), there's a rise in women-led solo ventures. Over 100 women-led funds launched in the past decade, with nearly 180 firms raising $5.3 billion in 2023.