Silicon Valley - Page 3

The CEO of Silicon Valley Bank (SVB) sold $3.57 million of company stock just two weeks before the technology sector’s primary financial institution collapsed on Friday, according to federal filings.

Treasury Secretary Janet Yellen said during a House Ways and Means Committee hearing Wednesday that the government continues to monitor the Silicon Valley Bank crisis. 

The bank is reportedly looking to sell itself to a larger financial institution.

Tech giant Google recently laid off thousands of employees, and the cuts didn’t stop there. The tech giant has laid off a team of robots trained to clear trash and perform other cleaning duties.

Google workers are feeling psychologically shaken after the company announced plans to lay off 12,000 of its workforce amid a general slump in the tech industry.

Prosecutors say disgraced Silicon Valley star and Theranos CEO Elizabeth Holmes is living in a $13,000-per-month estate and showing “no remorse” after being sentenced to more than 11 years in prison for deceiving investors in the failed startup that promised to revolutionize blood testing.

On average, 1,600 tech workers have been laid off every single day in 2023 according to a recent report. The ongoing Silicon Valley slump has caused the tech Masters of the Universe including Facebook, Amazon, and Salesforce to lead the way in cutting high-paid tech employees.

Comedian Bill Maher and billionaire Mark Cuban — both leftists who backed Joe Biden — had a discussion during Sunday’s episode of Maher’s Club Random podcast about how insufferable and “pretentious as fuck” people are in San Francisco.

Silicon Valley giants including Facebook and Twitter are full of former members of the U.S. intelligence community, according to reports from Mint Press and the Daily Mail. These employees are often found in the “trust and safety” or “misinformation” departments of tech companies — the sections tasked with platform censorship.

The lobbying arm of Silicon Valley’s tech investors, represented by billionaire Mark Zuckerberg’s FWD.us, admits it is “extremely unlikely” that an amnesty for millions of illegal aliens can pass the lame-duck Congress.

Food delivery service and gig economy darling DoorDash is laying off 1,250 of its employees in what the CEO says is part of a broader cost-cutting initiative.

Contracting firms that employ shuttle bus drivers and other service workers that support Facebook (now known as Meta) say they will need to slash a significant number of workers in the wake of Mark Zuckerberg implementing relaxed policies that allow his employees to work from home.

A woman was beheaded by a sword-wielding assailant on a residential street in the Silicon Valley town of San Carlos, California, on Thursday in front of horrified onlookers. The man was later arrested, with police receiving counseling.

Disgraced Theranos founder Elizabeth Holmes, who was recently found guilty on four counts of fraud and conspiracy after she duped investors with her blood-testing startup, is requesting a new trial.

A federal judge declined to overturn a jury’s guilty verdict against disgraced Theranos founder Elizabeth Holmes on Thursday, reports Associated Press.

Snap, the company behind social media platform Snapchat, is laying off approximately 20 percent of its more than 6,400 employees, according to sources.

Apple employees have reportedly begun petitioning against the tech giant’s plans to demand workers return to offices for three days a week starting next month. Apple employees have mounted repeated protests against returning to the office. The employee group “Apple Together” labeled the woke company racist, writing that returning to the office “will make Apple younger, whiter, more male-dominated, more neuro-normative, more able-bodied, in short, it will lead to privileges deciding who can work for Apple, not who’d be the best fit.

Apple will attempt to get its employees to go back into the office after trying for over a year to no avail. This time, the company has set a September 5 deadline for corporate employees to be in the office at least three days a week. Last time the woke giant attempted to get its workers back into the office, it was branded as racist for trying.

Snapchat’s parent company Snap is reportedly in the early stages of planning layoffs, according to two sources.

Republicans think a “red wave” is inevitable in November. But the Democrats still have one big advantage: the ever-tightening grip of Big Tech censorship, which will be used to prevent undecided voters from encountering even the most mainstream conservative news in the runup to the next election. Republicans will have a strong message — but what if voters are prevented from hearing it?

Google has announced a two-week hiring freeze at the company following a recent memo to employees revealing that there would be a slowing of their hiring process for the remainder of the year. The company-wide memo encouraged workers to “be more entrepreneurial” and work with “more hunger.”

U.S. technology companies have shied away from doing business with the U.S. military because they fear losing access to the Chinese market, according to Palmer Luckey, who founded the virtual reality hardware firm Oculus and now runs Anduril Industries, a defense startup.

More than 70 cities and towns across America have implemented incentive programs aimed at drawing businesses and remote workers away from Silicon Valley and other coastal hubs, and are enjoying increased success since the pandemic, reports the Wall Street Journal. 

Facebook (now known as Meta) has reportedly told managers to identify employees for layoffs, with CEO Mark Zuckerberg recently saying the company is experiencing “one of the worst downturns” in recent history.

The CEO of software company ReadyTech, John Woodward, has been arrested in connection with the 1992 murder of computer engineer Laurie Houts in Mountain View, California, the heart of Silicon Valley. Woodward has faced trial twice in the murder, with both trials ending in hung juries. Authorities believe that new DNA techniques have finally provided the evidence needed to prove their case.

Google CEO Sundar Pichai recently told staff in a memo that the company will be slowing hiring and to “be more entrepreneurial” and work with “more hunger.”

Current French President Emmanuel Macron is alleged to have “secretly” worked to make arrangements beneficial to big tech transport firm Uber, reports have claimed.

Tech workers are not interested in the idea of going into an office all day after experiencing remote work in the wake of the Chinese coronavirus pandemic.

Vishal Garg, the embattled CEO of Better.com, recently informed laid-off employees in a leaked video that the company “probably pissed away $200 million,” resulting in layoffs. Garg infamously laid off 900 people via Zoom meeting weeks before Christmas last year.

The British government has claimed they will give free speech a “trump card” status in an effort to combat woke cancel culture, despite the fact it is currently legislating to increase censorship online.

The Ministry of Defence demanded earlier this week that YouTube remove footage of a Russian prankster prank calling their Defence Secretary.

Employees at the digital mortgage lender Better.com reportedly learned that they have been laid off when their severance checks suddenly appeared in their payroll app. Last year the company’s bumbling CEO, Vishal Garg, faced massive backlash after laying off other employees via a mass Zoom meeting.

Republican Joe Kent is running on a populist platform for a seat in Congress but first, he’s got to win his Washington state GOP primary against incumbent Rep. Jaime Herrera Beutler and her corporate donors.

Peloton has faced a number of crises in recent months, now the company is facing yet another as details of a plan to conceal the internal corrosion of exercise machines referred to internally as “Project Tinman,” are made public. One outraged employee who came forward said: “It was the single driving factor in my beginning stages of hatred for the company that I had spent the previous year and a half falling in love with.”

Sir Nick Clegg, the discredited deputy prime minister turned Silicon Valley bigwig, has been promoted by Facebook’s parent company to a senior global position under the direct supervision of tech billionaire Mark Zuckerberg.

Six unions in Santa Clara County, which includes portions of Silicon Valley, united this week to oppose a mandate requiring county employees to receive a booster shot for the coronavirus vaccine, citing the likelihood of staff shortages.