Good morning! This is the tech news you need to know this Wednesday.
1. Tinder’s founders have filed a bombshell $2 billion lawsuit claiming the former CEO ‘groped and sexually harassed’ an executive at a company party. The lawsuit alleges that the former Tinder CEO and IAC Chairman Greg Blatt harassed Rosette Pambakian, Tinder’s vice president of marketing.
2. Tesla has been hit with a third securities fraud lawsuit in the wake of CEO Elon Musk’s ‘funding secured’ tweet. A complaint filed alleges that some investors purchased Tesla stock “at artificially inflated prices and suffered significant losses and damages once the truth emerged” that Musk had not secured the funding necessary to convert Tesla into a private company.
3. The world’s biggest tech companies are at serious risk of losing out on the $32 billion market Indian ecommerce market. India’s government is drawing up new policies that would favour domestic ecommerce startups over foreign competitors such as Amazon, Facebook, and Google.
4. Some members of Tesla’s board are hiring lawyers to protect themselves in the ongoing fallout from CEO Elon Musk’s public declarations about taking the company private. Fellow board members are also urging Musk to cool it with the social media posts about a go-private deal.
5. MoviePass has less than three months left before it runs out of cash. The company burned through more than $219 million in the first six months of the year, and said it now has $26 million in cash on hand, and another $25.4 million on deposit at its merchant bank.
6. Apple could launch smart glasses in 2020 and an Apple Car in 2023, according to an analyst with strong track record. Respected TF Securities analyst Ming-Chi Kuo suggested the new services could take Apple’s valuation to $2 trillion.
7. Tinder and Match Group were a poor match from the beginning, according to the lawsuit filed by the dating app’s founders. As well as harassment, the lawsuit alleges that the management of Match Group and its corporate parent IAC repeatedly reneged on formal agreements and shorted the founders of money and ownership.
8. Apple is reportedly arguing that buildings at its headquarters are worth just $200 so that it can reduce its tax bill. In a 2015 appeal, Apple claimed that a “cluster of properties” around Apple Park was worth $200, rather than the $1 billion figure alighted on by Santa Clara County’s tax assessor.
9. A Twitter engineer has said he’s deleting the app from his own phone in a protest of CEO Jack Dorsey’s policies. Jared Gaut criticised leadership’s attempts to remain neutral – an apparent reference to Twitter’s decision not to ban conspiracy theorist Alex Jones.
10. Twitter has suspended Alex Jones’ ability to tweet, but not from the platform altogether. Jones can read his posts but can’t interact with any other users or post.
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