Judge once again denies Musk’s $56B pay package

Tuesday, December 3, 2024 Posted by bloggerdaddy

Tuesday, December 3, 2024

Welcome to TechCrunch AM! This morning, we're looking at the frankly insane corporate pay packages going around, firefighters getting artillery support, and a new proposal to curb data brokers. We've also got AI helping you worsen your shopping habits, the names you can't search on ChatGPT, and GM scaling back its battery efforts. Let's go! — Rebecca

TechCrunch Top 3

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1. Judges don't like to repeat themselves: A Delaware judge is upholding her previous decision to deny Elon Musk's $56 billion pay package at Tesla, despite shareholders voting to ratify the deal. Of course, Tesla is going to appeal the decision. Read More

2. Firefighters finally get artillery support: Israeli startup FireDome thinks fighting wildfires is like waging a war, and firefighters need the right kind of support. The company's tech resembles Israel's Iron Dome missile defense system — it keeps watch for embers or small fires and uses a launcher to hurl fire retardant-filled projectiles. Read More

3. Are data brokers above the law? Earlier this year, President Biden signed an executive order to curb the sale of Americans' private data, but data brokers have largely ignored it. Now a federal agency has proposed a new rule designed to rein in those who sidestep the law. Read More

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🎻 I hear miniscule violins: It's been a tough year for Intel, so its departing CEO Pat Gelsinger is only banking $10 million in severance pay. For comparison, WeWork's founder Adam Neumann somehow left the company with well over $400 million, and former Yahoo CEO Marissa Meyer left with a cool $54.9 million. Read More

🛍️ A dangerous game: AI companies are racing to build an agent that can do your shopping for you. Perplexity, for example, recently released one that navigates retail websites for you, finds the products you want, and even checks out on your behalf. Google and OpenAI are also working on similar tech. Read More

🪫 A step back? GM is selling its stake in one of its U.S. battery cell factories to its joint venture partner, LG Energy Solution. The automaker says it has enough capacity and ability to scale at its other two factories that it doesn't really need that one. Read More

☁️ Scrap's on: Microsoft is being sued for allegedly charging customers of Amazon's AWS, Google Cloud Platform, and Alibaba Cloud more for its software than it does for Azure customers. The class-action lawsuit seeks a cool $1.25 billion in damages. Read More

💊 More AI drug discovery: Orakl Oncology's founder Fanny Jaulin says AI is table stakes in drug discovery. Her startup tests variables of each patient on organoids, or miniaturized in-vitro versions of an organ that can be used for trials. Read More

🇺🇸 Hi, I'm Uncle Sam, the DoD's chatbot: Yurts is helping the military in typical Silicon Valley fashion: The startup is working on an AI-powered chat assistant for the Department of Defense, a contract that likely helped Yurts score a $40 million Series B. Read More

Around the web

🤑 Wealth management on the rise: It's been historically difficult for your average Jane to turn their money into more money, but AI is changing the game. Per Crunchbase News, funding to global wealth management startups is on the rise this year, with investment platforms like Public garnering $135 million this week. Read More

🪖 Chip wars: Retaliating against Washington's semiconductor export curbs, China has banned shipments to the U.S. of several "dual-use" minerals and metals used in chip manufacturing and military applications, reports The Financial Times. Read More

🚗 It's Jag-u-are, not Jag-war: Jaguar's rebranding has had everybody scratching their heads, and that extends to the automaker's new concept car. The Type 00 is a two-door coupe with a long hood and fastback rear profile, and it comes in Miami Pink or London Blue, per The Verge. Read More

Before you go

Image Credits: Getty Images

😵‍💫 How to crash ChatGPT: Try typing "David Mayer" into ChatGPT, and you'll crash the chatbot. You can apparently do that with a handful of other male names, too. Why? Maybe these guys all either sued, or demanded that OpenAI keep their names out the chatbot's mouth. Read More