Technology
Former TuSimple co-founder calls on courts to block asset transfers to China
Xiaodi Hou, co-founder and former CEO of autonomous trucking startup TuSimple, urged a California district court to issue a short lived restraining order to prevent the corporate from moving its remaining U.S. assets to China, according to a recent court filing.
Hou, who plans to file for a short lived restraining order in December at his next scheduled court hearing, hopes to stop TuSimple from moving tens of tens of millions of dollars in money to China. As of September, TuSimple had capital of about $450 million. Hou can be asking for expedited discovery of evidence to support his conclusions.
Hou’s statement to the court is the newest escalation in a dispute between TuSimple and a few shareholders over attempts to use investor capital to finance a brand new business in China related to AI-generated animations and video games.
This is the primary time Hou – who was ousted as CEO in 2022 – has publicly accused TuSimple and its leaders of funneling assets to animation and gaming corporations owned by or with Mo Chen, TuSimple’s co-founder and CEO related. management board under the guise of a business axis. Hou also argued that the corporate violated SEC rules by failing to inform shareholders or obtain shareholder consent before changing its business direction or transferring funds to China.
Hou now heads a brand new autonomous trucking startup in Texas
TuSimple, once valued at $8.5 billion after its 2021 IPO, faced setbacks that led to its U.S. company shutting down and delisting from the stock exchange in January 2024. The company’s stated goal was to commercialize its AV technology in China. However, because the yr progressed, TuSimple reduced its workforce, stopped operating autonomous vehicles, and commenced hiring staff to perform AI-based gaming and animation tasks.
In August, shareholders sent a letter to the board after learning that TuSimple was devoting resources to AI-based games and animations. Management responded a couple of weeks later by publicly announcing the creation of a brand new business unit.
This week, Hou urged the court to issue a short lived restraining order after noting a request filed by TuSimple China that signaled the corporate intended to transfer money (or had already done so) from the United States. TuSimple China’s two subsidiaries saw their assets grow to a complete of $150 million last week, according to Hou’s declaration and data in public documents.
“These statements indicate a suspicious increase in the value of assets registered between these two subsidiaries in a single day, which is a precursor to the transfer of a large amount of cash from the US to China,” the statement said. “The most likely scenario is that the filings in China were a preparatory step before TuSimple US transferred the money to its subsidiaries in China.”
Hou added that such large money transfers “are outside the normal course of business” and are comparable to TuSimple China’s “heyday when the company had a large fleet of autonomous trucks in Shanghai” and employed about 700 employees. In September, TuSimple China had roughly 200 employees.
The opportunity for shareholders like Hou to get what they need – which is to liquidate TuSimple in order that they can recoup a few of their losses – is shrinking.
TuSimple is in a gray area when it comes to Securities and Exchange Commission enforcement. Although TuSimple was delisted earlier this yr, the corporate continues to be registered with the SEC and subsequently subject to U.S. scrutiny. Once the cash goes to China, U.S. shareholders may have no way to get well their original investment.
TechCrunch reached out to the SEC to discover whether the agency is investigating TuSimple over shareholder complaints.
TuSimple didn’t immediately respond to TechCrunch’s request for comment.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Technology
It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
Technology
Apple Vision Pro may add support for PlayStation VR controllers
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
-
Press Release9 months ago
CEO of 360WiSE Launches Mentorship Program in Overtown Miami FL
-
Press Release8 months ago
U.S.-Africa Chamber of Commerce Appoints Robert Alexander of 360WiseMedia as Board Director
-
Business and Finance6 months ago
The Importance of Owning Your Distribution Media Platform
-
Business and Finance9 months ago
360Wise Media and McDonald’s NY Tri-State Owner Operators Celebrate Success of “Faces of Black History” Campaign with Over 2 Million Event Visits
-
Ben Crump8 months ago
Another lawsuit accuses Google of bias against Black minority employees
-
Theater9 months ago
Telling the story of the Apollo Theater
-
Ben Crump9 months ago
Henrietta Lacks’ family members reach an agreement after her cells undergo advanced medical tests
-
Ben Crump9 months ago
The families of George Floyd and Daunte Wright hold an emotional press conference in Minneapolis