BUZ INVESTORS GOOG Accuses Uber Alphabet Inc (NASDAQ:GOOGL), which owns Google and its driverless car subsidiary, Waymo, is waging a legal war against ride sharing giant Uber.

$GOOG Accuses Uber Of Stealing Its Driverless Car Secrets

Google is suing Uber to try and block former Waymo engineer from working on self-driving car projects

BUZ INVESTORS  GOOG Accuses Uber  Alphabet Inc <span data-recalc-dims=(NASDAQ:GOOGL), which owns Google and its driverless car subsidiary, Waymo, is waging a legal war against ride sharing giant Uber." width="300" height="200" srcset="https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/04/google-car.jpg?resize=300%2C200 300w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/04/google-car.jpg?resize=768%2C512 768w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/04/google-car.jpg?resize=1024%2C682 1024w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/04/google-car.jpg?w=1280 1280w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/04/google-car.jpg?w=1920 1920w" sizes="(max-width: 300px) 100vw, 300px" />

BUZ INVESTORS  GOOG Accuses Uber  Alphabet Inc (NASDAQ:GOOGL), which owns Google and its driverless car subsidiary, Waymo, is waging a legal war against ride sharing giant Uber.

Waymo said it has evidence that Uber stole its trade secrets and wants a judge to bar the head of Uber’s autonomous driving unit from ever working on the project again. Bloomberg has some more details on the new development in the case:GOOG Accuses Uber



 

Alphabet Inc.(GOOG)– NASDAQ




 GOOG Accuses Uber

Alphabet Inc.’s Waymo made the request Friday as a federal judge weighs whether to issue a court order that may impede Uber in the race to market autonomous-driving vehicles. U.S. District Judge William Alsup in San Francisco said last month that Waymo has a strong case that its former engineer, Anthony Levandowski, downloaded thousands of confidential files before he left the company to launch his own self-driving startup, Otto, that was acquired by Uber for $680 million.

Levandowski had an obligation to protect Waymo’s intellectual property before leaving to join Uber. Now a judge must decide how best to keep further harm from occurring.

While the court case may seem trivial to many, the race to provide the first fleet of self-driving cars is very real. Tens of billions of dollars will likely flow to the winner — be it Google, Uber, Tesla, or another company.

Waymo said it has “finally learned” of a project designed by Levandowski while he was in possession of Waymo’s files. Uber has hidden the code-named design from the court, according to the filing. The name is redacted in the filing.

“They were hiding a device,” Waymo wrote, “which Uber only revealed to Waymo after one of its engineers was forced to admit it existed.”

Uber spokesman Matt Kallman said the code-named device was an abandoned project that never reached a prototype. Far from keeping it secret, Uber made it available to Waymo to inspect and photograph as part of court-ordered information sharing, he said. Waymo’s emphasis on the unnamed device represents a strategic pivot by Waymo and a retreat from its original claims, he said.

Uber is fighting the case so far without testimony from Levandowski, who wasn’t named as a defendant, but has said he’s at risk of being criminally prosecuted and has asserted his constitutional right to protect himself from self-incrimination.Like up on FACEBOOK


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Buz Investors Alphabet Self-driving Car Unit Alphabet's self-driving project Waymo is seeking an injunction to block Uber from using self-driving operations.

Alphabet Self-driving Car Unit Seeks Injunction Against Uber

Alphabet Self-driving Car Unit Seeks Injunction Against Uber

Buz Investors Alphabet Self-driving Car Unit Alphabet's self-driving project Waymo is seeking an injunction to block Uber from using self-driving operations.

Buz Investors Alphabet Self-driving Car Unit Alphabet’s self-driving project Waymo is seeking an injunction to block Uber from using self-driving operations.

The motion for the injunction comes a few weeks after Waymo filed a lawsuit against Uber and the head of its self-driving division Anthony Levandowski accusing of theft of a key technology system.

Levandowski had joined Uber when the ride-hailing service acquired his startup, Otto, last year.



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Alphabet Self-driving Car Unit

 

Waymo alleges that Levandowski stole the company’s proprietary design for its laser-based radar system. According to Waymo, before Levandowski left Google he downloaded 14,000 “highly confidential” files to an external hard drive, including the design for the company’s lidar circuit board.

According to Verge, Gary Brown, a forensic security engineer with Google, said that Levandowski downloaded those files using his personal laptop, which made it easy to track.

“When an employee’s device interacts with a Google service or is active on a Google network, those interactions and activities can be recorded in logs that identify the device (by its unique identifiers) and/or the interaction or activity (for example, downloading files from a secure repository),” Brown said.

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Buz Investors Chances of an Uber IPO When it comes to public relations, you really can’t do much worse than Uber Technologies Inc.

What Are the Chances of an Uber IPO in 2017

Will Uber IPO in 2017?

Buz Investors Chances of an Uber IPO When it comes to public relations, you really can’t do much worse than Uber Technologies Inc.

Buz Investors Chances of an Uber IPO  When it comes to public relations, you really can’t do much worse than Uber Technologies Inc. The Uber valuation, ahead of its eventual initial public offering (IPO), now sits at a monstrous $66.0 billion, while the Uber IPO date is still very much in the air.

But, even with all the gaudy numbers and accompanying IPO excitement, all Uber can ever seem to do in the public’s eye is, well, mess up. People should be wondering “will Uber IPO in 2017?” not “Jeez, what did Uber do wrong now?



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Chances of an Uber IPO

Before we get into the particulars of the potential Uber IPO 2017, lets recap some of the colossal and calamitous missteps that the company has made on the public relations front, and why that could be important in the run-up to a public offering. (Source: “As Uber Melts Down, Its CEO Says He ‘Must Fundamentally Change‘,” The Atlantic, March 1, 2017.)

What would happen if we weren’t a part of that future?” asked Travis Kalanick in a 2016 interview about autonomous cars. “If we weren’t part of the autonomy thing? Then the future passes us by basically, in a very expeditious and efficient way.” (Source: “Travis Kalanick on Uber’s bet on self-driving cars: ‘I can’t be wrong’,” Business Insider, August 18, 2016.)

Basically, that’s what Uber could be facing if it faces the worst-case scenario as a result of these legal proceedings.

What’s even stranger is that not too long ago in 2013, Google and Uber were looking like they were going to march hand-in-hand into the autonomous car future as allies, not mortal enemies. Google invested $258.0 million in Uber back in 2013; quite a departure from their current relationship. (Source: “The inside story of the rise and rise of Uber,” TechCrunch, February 7, 2017.)

First you have the issue of duplication. While Uber was first in the market to popularize ride-sharing as an app (and has benefited greatly due to that initiative), competitors like Lyft are increasingly making a claim on Uber’s market share. And, all things being equal, if consumers are faced with a choice between the vilified Uber or the more personable Lyft, it’s not hard to imagine who they’ll be hailing. (Source: “Uber’s books still top secret, but its biggest weakness isn’t,CNBC, June 8, 2016.)



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Buz Investors Uber Trump FaceOff In the latest round of Uber IPO news, Uber Chief Executive Travis Kalanick pledged $3.0 million to help drivers impacted by the Donald Trump immigration order after facing public backlash over Uber’s decision to continue running its services despite a taxi strike at Kennedy International Airport.

Will Uber Trump FaceOff Impact Uber IPO and Uber Stock?

Will Uber Trump FaceOff Impact Uber IPO and Uber Stock?

Buz Investors Uber Trump FaceOff In the latest round of Uber IPO news, Uber Chief Executive Travis Kalanick pledged $3.0 million to help drivers impacted by the Donald Trump immigration order after facing public backlash over Uber’s decision to continue running its services despite a taxi strike at Kennedy International Airport.

Buz Investors Uber Trump FaceOff In the latest round of Uber IPO news, Uber Chief Executive Travis Kalanick pledged $3.0 million to help drivers impacted by the Donald Trump immigration order after facing public backlash over Uber’s decision to continue running its services despite a taxi strike at Kennedy International Airport.

Travis Kalanick posted on his Facebook page that Uber would create a $3.0 million legal defense fund to help drivers affected by the Trump immigration order. The fund is created to help drivers with immigration and translation services. He also said that the ride-hailing company will provide 24/7 legal support to drivers stuck outside the country and compensate them for lost earnings. (Source: “Uber fights immigration order — and #DeleteUber hashtag — with $3-million legal fund for drivers,” Los Angeles Times, January 29, 2017.)



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Uber Trump FaceOff

In contrast, Uber rival Lyft was praised by social media over its clear and timely response to the Trump immigration order. Lyft co-founders issued a statement titled “Defending Our Values” and pledged $1.0 million to the American Civil Liberties Union (ACLU). (Source: “Defending Our Values,” Lyft, January 29, 2017.)

As investors look forward to equity offerings from technology players like Uber, Airbnb, Inc., and Snap Inc. in the year 2017, uncertainties surrounding the policies of the Trump administration are casting a shadow over the technology sector. Expectations are high from Uber stock’s offering, and any negative news at this time may not be good for the company.

Moreover, there are certain financial challenges that could make the Uber IPO face certain headwinds this year. Although the ride-hailing service has clocked in impressive growth, it still loses money. Uber lost about $2.8 billion last year, according to the technology news web site, The Information. Expansion in countries like India is turning out to be costly. (Source: “Uber may encounter rough IPO ride,” Reuters, December 20, 2016.)

 


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Uber Stock: This One Number Could Be Huge for an Uber IPO

Uber Stock: This One Number Could Be Huge for an Uber IPO

Uber Stock: This One Number Could Be Huge for an Uber IPO

  • Buz Investors Huge for an Uber IPO  Uber Technologies Inc. has possibly one of the most hyped initial public offerings (IPOs) ever. Some are putting valuations of the company past $69.0 billion (others are more reserved, pegging it at a mere $30.0 billion).
  •  (Source: “An Expert in Valuation Says Uber Is Only Worth $28 Billion, Not $62.5 Billion,”Bloomberg, August 17, 2016.)
  • If and when Uber stock does go public, the Uber IPO would almost certainly be the IPO of that year, if not the biggest stock market event of the year. But there’s more to the tale of Uber stock, and that’s revenue.

Huge for an Uber IPO

Buz Investors Huge for an Uber IPO  Uber Technologies Inc. has possibly one of the most hyped initial public offerings <span data-recalc-dims=(IPOs) ever. Some are putting valuations of the company past $69.0 billion (others are more reserved, pegging it at a mere $30.0 billion)" width="300" height="200" srcset="https://i2.wp.com/investorsbuz.com/wp-content/uploads/2016/12/Uber-Stock-300x200.resized.jpg?resize=300%2C200 300w, https://i2.wp.com/investorsbuz.com/wp-content/uploads/2016/12/Uber-Stock-300x200.resized.jpg?w=640 640w" sizes="(max-width: 300px) 100vw, 300px" />

Huge for an Uber IPO   Uber Technologies Inc. has possibly one of the most hyped initial public offerings (IPOs) ever. Some are putting valuations of the company past $69.0 billion (others are more reserved, pegging it at a mere $30.0 billion). (Source: “An Expert in Valuation Says Uber Is Only Worth $28 Billion, Not $62.5 Billion,”Bloomberg, August 17, 2016.)

 

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Huge for an Uber IPO

In the first nine months of 2016, the company lost significantly more than $2.2 billion. In the third quarter alone, Uber lost more than $800.0 million, and that does not include its Chinese operation. Uber exited the Chinese market in August. (Source: “Uber’s Loss Exceeds $800 Million in Third Quarter on $1.7 Billion in Net Revenue,” Bloomberg, December 19, 2016.)

But the loss is offset by the money that the company is raking in. Uber generated about $3.76 billion in net revenue in the first nine months of 2016, and is on track to exceed $5.5 billion by the end of the year. The company has also experienced slow growth, partly due to exiting China, the world’s most populous country. Uber struck a deal with Didi Chuxing to leave the market in exchange for 17.5% of the Chinese company. Didi then invested $1.0 billion in Uber as a result of the deal.




Uber AI: What Does Uber Want to Do With Artificial Intelligence?

Uber AI: What Does Uber Want to Do With Artificial Intelligence?

Uber AI: What Does Uber Want to Do With Artificial Intelligence?

  • Buz Investors Uber AI Artificial Intelligence (AI) is one area that has been attracting lot of attention from the top technology companies for a while now. Uber Technologies Inc.has become the latest company to be bitten by the AI bug.
  • Uber’s Chief Product Officer Jeff Holden posted on Monday that the company has opened “Uber AI Labs,” a new division dedicated to cutting-edge research in artificial intelligence and machine learning.
  • And he had something more exciting to announce: Uber has acquired the AI research startup Geometric Intelligence, whose 15 members will form the initial core of the AI Labs team. (Source: “Founding Uber AI Labs,” Uber Technologies Inc., December 5, 2016)

Uber AI

Uber AI: What Does Uber Want to Do With Artificial Intelligence?

Uber AI With this acquisition, Uber is on its way to compete with four tech giants that have invested heavily in AI: Alphabet Inc (NASDAQ:GOOG, GOOGL), Amazon.com, Inc (NASDAQ:AMZN), Facebook Inc(NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL). It looks like Uber is transforming itself from a ride-hailing company to a company that is into self-driving cars and trucks, and even flying automobiles. Uber has been experimenting with its self-driving cars in Pittsburgh, and has also acquired a self-driving company called Otto Motors.

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Uber AI

As the work of Geometric Intelligence progresses, the team is likely to work in tandem with Uber’s autonomous car group in Pittsburgh, as well as with groups working on traffic prediction in San Francisco and Palo Alto. According to the founders of Geometric Intelligence, their team will tackle everything from machine vision to natural language understanding. (Source: “Uber Buys A Mysterious Startup To Make Itself an AI Company,” Wired, December 5, 2016).

Also, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk released a software platform called “Universe” that lets AI agents improve their computer skills. “OpenAI,” the billion-dollar project of Musk and Y Combinator’s President Sam Altman, was initiated with the objective of reducing the potential harms of artificial intelligence by democratizing it.

 




Uber News: EU Court to Decide Whether Uber Is a Tech Company

Uber News: EU Court to Decide Whether Uber Is a Tech Company

Uber News: EU Court to Decide Whether Uber Is a Tech Company

  • Buz Investors Uber News Uber Technologies Inc. will appear in the European Court of Justice on Tuesday to defend its business practices, in what is fast becoming the Groundhog Day of Uber news stories.
  • The U.S.-based ride sharing app has faced these accusations again and again. Critics argue that it not a technology platform, but a transport company. More to the point, they say that Uber gets an unfair advantage over traditional taxis by using this sleight of hand.
  • Local taxi companies and their allies in municipal governments are working to either ban or cripple ride sharing apps. (Source: “Uber is going to Europe’s top court in a fight that could have huge implications for the app economy,” Business Insider, November 28, 2016.)

Uber News

Uber News: EU Court to Decide Whether Uber Is a Tech Company

Uber News  This particular case started in Spain. Barcelona’s main taxi operator filed charges saying that Uber was running an illegal taxi service, but the judge was unsure how to rule. The Spanish court kicked the case up the chain to a higher authority: the European Court of Justice.

That’s where we are with today’s Uber news. If the case goes against Uber, it could cripple its business across the entire continent. Moreover, it would provide a roadmap for similar litigation being carried out in other jurisdictions.

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Uber News

The company certainly thinks it knows the answer. By its accounting, all it does is link drivers to passengers. Customers open the “Uber” app and plug in their destination. Uber drivers in the area can see the request, and choose whether to accept. They ferry the passengers from point A to B, and that’s it.

Uber settles the payment automatically.

To supporters, this looks a lot like a technology platform. A vast majority of the company’s payroll is devoted to software engineers that designed and maintain this platform, a fact which should, in theory, support the argument that it’s a technology company.

Uber Technologies Inc.: Will there be an Uber IPO in 2017?

Uber Technologies Inc.: Will there be an Uber IPO in 2017?

Uber Technologies Inc.: Will there be an Uber IPO in 2017?

  • Uber Technologies Inc. is not publicly traded, and therefore not obliged to disclose its financial performance, but it organizes a quarterly conference call with some investors. These include some big names in the world of finance, such as Goldman Sachs Group Inc (NYSE:GS).
  • The latest call does not suggest that investors can expect an Uber initial public offering (IPO) in 2017 or anytime soon
  • That’s because the U.S.-based (but global) smartphone-app-based ride-sharing service managed to lose some $1.27 billion in the first half of 2016. (Source: “Uber Loses at Least $1.2 Billion in First Half of 2016,” Bloomberg, August 25, 2016.)

Uber is Raising Questions About the Sharing Economy Itself

Uber Technologies Inc.: Will there be an Uber IPO in 2017?

There is no question that Uber has earned its place among once-fellow startup unicorns. Some that immediately come to mind include Facebook Inc (NASDAQ:FB), Tesla Motors Inc(NADSAQ:TSLA), and Alphabet Inc (NASDAQ:GOOG)—against which the company competes in the driverless technology department. Like those companies, Uber has redefined economies of scale, given the sheer disproportion of its ambition. That ambition, as some investors in unicorns that have gone public have found out, do not always translate to profits.

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Even in the make-believe world of Silicon Valley, losing over a billion dollars and still continuing to push growth is a stretch, including in the new technologies sector. According to the web site Gizmodo, Amazon had suffered its biggest loss in 2000, with a $1.4 billion deficit spread over the entire year. (Source: “Why Uber Is Losing Money Faster Than Any Tech Company Ever”, Gizmodo, August 25, 2016.) Such is the contradiction of growing startups. They lose money and their value goes up.

We all know how that ended. That’s the risk for companies like Uber if they go public. Uber’s losses are as impressive as its growth. (Source: Ibid.) But, they tell us, Uber’s model will soon be profitable. Yet Uber has had to leave the market where growth should have been fastest, given that it is also the world’s fastest-growing market for cars: China. Perhaps a better strategy might be to leave the markets or cities where it incurs the highest losses, focusing on growth only in cities where the company makes money.

Uber has made no secret of its goal to move toward a driverless future. Imagine that the company is pursuing this goal while its drivers, self-employed for now, are trying to assert their rights with the company. Now imagine such a pressure cooker of labor relations troubles in a publicly traded company.

 

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Uber IPO: Does Uber-Didi Deal Clear the Way for an Uber IPO in 2016?

Uber IPO: Does Uber-Didi Deal Clear the Way for an Uber IPO in 2016?

Uber IPO: Does Uber-Didi Deal Clear the Way for an Uber IPO in 2016?

Uber-Didi Deal Is an Uber IPO in the Works?

Some have suggested that the chances of an Uber Technologies Inc. IPO (initial public offering) have increased. The opportunity for an Uber IPO—perhaps even an Uber IPO in 2016—has opened up because Uber has sold its Uber China division to competitor Didi Chuxing. The Uber-Didi deal, say analysts, is the right catalyst for the stock to list.

So, will there be an Uber IPO in 2016? That’s the big question.

The sale of Uber China to Didi Chuxing has ended Uber’s loss-accumulating effort to challenge Didi, the ride sharing leader in.

How Does This Bode for an Eventual Uber IPO?

With the China problem out of the way, an Uber IPO would seem to be the next logical step for the famous vehicle-for-hire (ride-sharing) service. Didi Chuxing was Uber’s biggest competitor in the Chinese market and it plans to invest $1.0 billion in Uber Technologies Inc., the mother company itself. Indeed, the company and other shareholders, which includeBaidu Inc (NASDAQ:BIDU), will get a 20% economic stake in the new Didi-Uber China company, while Didi founder Cheng Wei and Uber CEO Travis Kalanick will join each other’s respective boards. (Source: “In Deal With Didi, Uber Frees Itself to Expand in Other Markets,” Bloomberg, August 1, 2016.)

Travis Kalanick has often expressed a desire to keep Uber private as long as possible. In other words, Kalanick will likely hold back from an IPO in 2016. (Source: “Uber IPO uber-unlikely: CEO Kalanick,” CNBC, March 29, 2016.)

Uber has managed to raise some $10.0 billion in the past year and a half, which will be enough to keep it running without having to go to the public markets. It will also maintain the independence and flexibility that a public listing would restrict. Kalanick likes the independence, which is facilitating expansion.

The post Uber IPO: Does Uber-Didi Deal Clear the Way for an Uber IPO in 2016?appeared first on Profit Confidential.