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- Weekly Tech Recap: A Big Week for Rivian, Without a Doubt
Weekly Tech Recap: A Big Week for Rivian, Without a Doubt
Weekly Tech Recap: A Big Week for Rivian, Without a Doubt
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Rivian, the Irvine-based electric truck maker backed by Amazon, made its opening on Wall Street this week — and it was a big favorite for investors. The company's stock price ended the week up more than 21% from its debut price on the Nasdaq exchange, earning Rivian a valuation of more than $100 billion.Still, some challenges loom over Rivian as production delays push its backlog of orders into 2023 and a gender discrimination lawsuit against the company.
👉 Mustard. Diana Might and David Currant co-founded this social food app that allows users to order from videos featuring food (and pays the creator).
👉 AppliedVR. This L.A.-based startup takes a rather unconventional approach to pain that relies more on manipulating brain function rather than dulling the sensation of pain.
👉 Struum. For $4.99 per month, this L.A. startup aggregates content from 60 smaller streaming providers into an app that tells people where to find media.
➡️ B2U Storage Solutions is taking old electric car batteries and turning them into storage for solar energy.➡️ On its NASDAQ debut this week, Rivian's stock outperformed Ford and General Motors.
🗞 We asked some of L.A.'s top venture capitalists whether the climate crisis has become a factor in the startups they invest in. And 60% of them said yes.
🗞 In a scathing 14-page lawsuit, the former Rivian executive alleges that she started in a lofty role at a luxury auto maker but quickly became ostracized for what she came to see as a "bro" culture that marginalized women.
🗞 It has hardly any revenue, big losses, and a waiting list that stretches to the end of 2023. Here are five things you should know about Rivian.
🗞 The Walt Disney Company's shares dropped as much as 5% in after-hours trading Wednesday after the company missed earnings expectations.
🗞 Need help raising seed capital? Serial entrepreneur and dot.LA co-founder Spencer Rascoff doles out some advice on how to approach investors and pitch them your vision for a company.
🗞 The Santa Monica-based online wine club Winc stumbled on its first day on the NYSE.
🗞As attitudes shift on drugs and mental health, these dotLA Summit panelists say it's time for more psychedelic therapies.
Need a podcast recommendation this weekend? Here are some new pods to keep you company this weekend:
🎙 With only $14,000, Jane Wurwand launched her own skin therapy courses in a small classroom in Los Angeles. On this week's Behind Her Empire, Wurwand talks about how those lessons led to the creation of her company Dermalogica, one of the world's premier skincare brands. Listen on Stitcher, Apple Podcasts, Spotify, iHeart Radio or wherever you get your podcasts.
🎙 Former Zillow executive and serial entrepreneur Spencer Rascoff loves Los Angeles. Listen to his experience at 75 & Sunny as an investor and how he tries to keep dot.LA free from a paywall on this week's LA Venture. Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.
🗞 A pivotal vote to approve a deal between Hollywood crew workers and big tech studios kicked off on Friday (and will stretch through the weekend).🗞 Disney announced on Friday a lengthy list of new movies and shows coming on its streaming platform by 2022, including some "Star Wars" and Marvel spin-offs. 🗞 With cases on the rise, medtech startup Curative is returning to Dodger Stadium to bring free on-site COVID testing.🗞 The former Venice home of celebrated author Ray Bradbury is now a Rivian electric vehicle dealership. Is it the future of auto dealerships?
Check out these upcoming Southern California tech and startup events in November:
Is your organization having an event? Let us feature it in our newsletter! Email [email protected].
Throw me feedback, compliments or questions on this newsletter at [email protected] or on Twitter at @rungomez.