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Former TuSimple co-founder calls on courts to block asset transfers to China

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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.

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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.

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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.

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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.

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This article was originally published on : techcrunch.com

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Uber customers can now earn Delta Skylile from rides or deliveries

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Members of Delta Skys within the United States can now start earning points after they go along with Uber or order via Uber Eats as a part of the recently announced exclusive partnership between each corporations.

The reference to Delta was designed to further adapt the large riding at airports, which was historically a lucrative segment for Uber. The riding company also announced on Tuesday plans to expand the brand new product to the airport at a reasonable price to Atlanta at successful launch in New York.

The game at Uber airport appears at a time when market uncertainty, lower consumer trust and increased borders control lead many Americans to Reverse expenditure on travel This 12 months.

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Perhaps such uncertainty signifies that now, greater than ever, customers given prices must find ways to play the system. Uber customers who joined the waiting list will have the option to attach their accounts from Tuesday and everybody else can start Thursday.

Here’s how Uber users with memberships of Delta Skyles can accumulate miles after connecting their accounts:

  • Uber Je: 1 mile per dollar spent on orders over USD 40.
  • Airport rides: 1 mile per dollar spent on Uberx rides on the airports.
  • Premium rides: 2 miles for dollar spent on Uber Comfort or Uber Black.
  • Uber Reserve: 3 miles for a dollar spent on Ubers reserved prematurely.

Uberr, riders cannot arrange miles by booking on the airport, but Uber spokesman said that the shopper would get skymes from a journey, which supplies the best prize.

In addition to the flexibility to get miles, Uber and Delta, they integrate in other ways. Customers who buy a flight using the Fly Delta application will have the option to cope with Uber reserve reservation in order that they can reserve a ride to the airport airport. And this 12 months, Skymile members who log in to Wi -Ifi during their flights will receive a 30% discount on reserving Uber for pickup after they land.

(Tagstotransate) delta

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This article was originally published on : techcrunch.com
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Palantir Exec defends work in the company’s immigration supervision

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One of the founders of the Y startup accelerator Y Combinator offered this weekend the Palantir Data Analytical Company that doesn’t describe the controversial analytical company, running the company’s director to supply a broad defense of Palantir’s work.

Then it appeared forward federal applications He showed that American immigration and customs enforcement (ICE) – the task of conducting the aggressive strategy of the deportation of the Trump administration – pays Palantir $ 30 million for creating What does this call the immigration system operating systemSo immigration to assist ICE resolve who to direct to the deportation, and likewise offer “real -time visibility” in self -complacency.

Y founding father of Combinator Paul Graham divided the headlines about the Palantir contract on the subject of XWriting: “It is now a very exciting time in technology. If you are a first -rate programmer, there is a huge number of other places where you can work, and not in a company building infrastructure of a police state.”

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In response, the global business head of Palantir Ted Mabrey wrote that “he is looking forward to the next set of employees who decided to submit a request to Palantir after reading your post.”

Mabrey didn’t discuss the details of the current work of Palantir with ice, but said that the company began cooperation with the Internal Security Department (in accordance with which ICE works) “in an immediate response to the assassination of agent Jaime Zapata by Zetas in an effort called Fallen Hero surgery. “

“When people live because of what you built and others were not alive, because what you built was not good enough yet, you develop a completely different view on the meaning of your work,” said Mabrey.

He also compared Graham’s criticism with protests on the Google Maven project in 2018, which ultimately prompted the company to stop the work of drone photos for the army. (Google then signaled that he again became more open to defense works.)

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Mabrey called everyone interested in working for Palantir to read the latest book CEO Alexander Karp “The Technological Republic”, which claims that the software industry must rebuild its relationship with the government. (The company was Recruitment at university campus With signs declaring that “the moment of counting arrived west”)

“We employ believers,” Mabrey continued. “Not in the sense of the homogeneity of religion, but in the internal ability to imagine in something greater than you

Graham then Pressed Mabrey “To publicly commit himself on behalf of Palantir, so as not to build things that help the government violate the US constitution,” although he confirmed in one other post that such a commitment “would not have legal force.”

“However, I hope that if (they make a commitment) and a Palantir’s employee is one day asked to do something illegal, he will say” I didn’t join for it “and refused,” wrote Graham.

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Mabrey in turn compared Graham’s query In order for “or” you promise to stop beating a trick in court, but he added that the company “has made so many ways from Sunday”, ranging from the commitment to “3,500 thoughtful people who polish only because they believe that they make the world a better place every day because they see their first hand.”

(Tagstotransate) palantir

This article was originally published on : techcrunch.com
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Congress has questions about 23andme bankruptcy

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Low-angle view of logo on facade of personal genomics company 23AndMe in the Silicon Valley town of Mountain View, California, October 28, 2018. (Photo by Smith Collection/Gado/Getty Images)

3 The leaders of the Energy and Trade Committee said that they’re investigating how 23ndme’s bankruptcy can affect customer data.

Representatives of Brett Guthrie, Gus Biliakis and Gary Palmer (all Republicans) He sent a letter On Thursday, Joe Selsavage, Joe Selsavage, ask a variety of questions about how 23andme will serve customer data if the corporate is sold.

The letter also says that some customers have reported problems with deleting their data from the 23ndme website, and notes that corporations directly for consumption, reminiscent of 23andme, are generally not protected by the Act on the portability and accountability of medical insurance (Hipaa).

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“Considering the lack of HIPAA protection, a patchwork of state regulations covering genetic privacy and uncertainty related to customer information in the case of transmitting the sale of company or clients data, we are afraid that this best -confidential information is threatened with a player,” representatives write.

23andme, which has decided to violate data For $ 30 million last 12 months, he applied for bankruptcy in Chapter 11 in March, and the co -founder and general director Anne Wojciki said he was resigning from the corporate’s private bidder.

(Tagstotransate) 23andme

This article was originally published on : techcrunch.com
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