Week in Review: Most popular stories on GeekWire for the week of May 4, 2025
Get caught up on the latest technology and startup news from the past week. Here are the most popular stories on GeekWire for the week of May 4, 2025.
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Most popular stories on GeekWire
Statsig lands $100M at $1.1B valuation, aiming to unify product development as AI upends industry
We have a new unicorn. Four years after it was founded by a former Facebook engineering leader, Statsig has raised $100 million at a $1.1 billion valuation, accelerating its efforts to unify product development tools as AI reshapes how software behaves and gets built. … Read More
Lawmaker behind controversial 'Tesla tax' explains why Washington is targeting EV credits
Critics of a Washington tax that would largely impact Tesla accuse the state's Democratic lawmakers of taking punitive action against Elon Musk, dubbing it the 'Tesla tax.' The state leader behind the controversial legislation says that's patently false. … Read More
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4 minutes ago
- Yahoo
Tesla's Texas robotaxi launch: Expect it to be 'low-key'
Tesla's (TSLA) robotaxi will tentatively launch in Austin, Texas, on June 22, according to CEO Elon Musk. CFRA analyst Garrett Nelson thinks this launch will be more of a "low-key" event compared to its big "Cybercab" debut last year. IN the video above, you can hear more of Nelson's take on the launch and why he thinks the stock has some near-term headwinds. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. What are you expecting from this robo taxi launch? Yeah, thanks for having me. We think it's going to be a lot more low-key than the robo taxi day that Tesla held in Los Angeles last October, which was on a Hollywood movie set, very different type of production. I think this is going to be much more low-key. October or sorry, June 22nd is a Sunday, which is very unusual to have a major product launch, but I don't think that's a coincidence. So, I think it's, you know, expectations are high coming into this, but I think the key is really what happens in the three to six months following this event. So, initially, it's only going to be maybe a dozen or so model wise with the most recent version of full self-driving installed on them, operating in a geofenced area of Austin with the vehicle being supervised remotely as well. So, I think a lot of people are going to say, well, why is this so special? You know, what is Tesla doing here that Waymo isn't already doing with the robo taxis that they are operating in Austin. And I think people are going to look at the size of the geofenced area. Waymos is 37 square miles. How quickly they can expand that geofenced area, and then how quickly they can increase the number of vehicles on the roads and also then expand to other markets. What is the time framing for that scaling that would lead you to then raise your own rating and expectations on the stock? Well, Elon Musk thinks they can have maybe a thousand or so on the road by the end of this summer. It seems a bit optimistic, but we'll see. Our main concerns with this stock right now are number one valuation, given this really dramatic rebound since their first quarter earnings release in April. The stock is up, you know, about 100 points from when they reported earnings, only six or seven weeks ago. So, it's valuation at north of 110 times our EPS estimate for next year, but also ongoing market share losses across their three major markets of China, Europe, and the US. That has continued. You look at the China data, Tesla sales were down 15% in May. Meanwhile, total EV sales were up 38% in China. So, in Europe and the US, it's kind of a similar story. So, those near-term issues really concern us here. We know we're right around the corner from their second quarter deliveries report, which will happen in about three weeks. I don't think that's going to be a great release. And so there's some major near-term challenges and valuation being an issue for us also. In addition to the Big Beautiful Bill, in which Tesla will be losing their tax credits, not only on EVs, but for energy storage and solar products as well.
New York Post
4 minutes ago
- New York Post
Elon Musk's Tesla sues former Optimus robot engineer for allegedly stealing trade secrets
Elon Musk's Tesla is suing one of its former engineers for allegedly stealing trade secrets related to its highly anticipated Optimus humanoid robot. The defendant is Zhongjie 'Jay' Li, who cofounded the humanoid robot startup Proception Inc. after working at Tesla from Aug. 2022 to Sept. 2024, according to the complaint filed in San Francisco federal court on Wednesday. The lawsuit alleges Li, who worked on 'advanced robotic hand sensors—and was entrusted with some of the most sensitive technical data in the program,' downloaded Optimus files onto two smartphones. 3 A former engineer is accused of using Optimus technology to create his own startup. REUTERS Li started Proception less than a week after leaving Tesla and the startup claimed to have built humanoid robot hands with a 'striking resemblance' to Optimus just five months later. 'Rather than build through legitimate innovation, trial, and technical rigor, Defendants took a shortcut: theft,' the lawsuit says. 'They misappropriated Tesla's most sensitive materials, sidestepped the laborious process of development, and launched a company based not on original discovery, but on stolen work.' Tesla is seeking unspecified 'compensatory and exemplary damages' against Li, as well an order barring Li and his associates from using any of the company's trade secrets. The company also requested a jury trial in the case. Proception is based in Palo Alto, Calif., according to its LinkedIn page. Li lists himself as founder and CEO of the startup, which he says is 'tackling one of the most challenging and exciting humanoid projects of our time.' Li did not immediately return a request for comment on the lawsuit. In the suit, Tesla's attorneys said that successfully building an advanced robotic hand is 'among the most challenging' tasks in robotics. 3 Elon Musk has said Optimus is key to Tesla's future. AP 'Although Tesla does not disclose the precise year-over-year investments in Optimus, the research and development costs are in the billions of dollars,' the lawsuit says. 'Such an ambitious project demands unparalleled expertise and substantial time and financial commitment to achieve even incremental progress.' Musk has repeatedly described Tesla's Optimus robot as key to the company's long-term health and growth. The billionaire specifically touted Optimus's advanced robotic hand during the company's earnings call in January. 3 The Optimus humanoid robot is still in production at Tesla. Stanislav Kogiku/SOPA Images/Shutterstock 'My prediction long-term is that Optimus will be overwhelmingly the value of the company,' Musk said at the time. Bloomberg was first to report on the lawsuit.
Business Upturn
6 minutes ago
- Business Upturn
Ahmedabad Air India crash: Here's how 1 person (Ramesh Kumar) survived the tragic plane crash
In a rare and miraculous escape, Ramesh Kumar, a passenger on the ill-fated Air India flight AI-171, survived the devastating crash that occurred shortly after takeoff from Ahmedabad airport on Thursday. The London-bound flight, carrying 242 passengers and crew, crashed into a densely populated residential area, causing multiple fatalities and injuries. Kumar, seated on 11A, reportedly jumped out of the aircraft through the emergency exit moments before the crash. Ahmedabad Police Commissioner GS Malik confirmed, 'The police found one survivor in seat 11A. He is currently undergoing treatment at a hospital.' In response to the tragedy, the Tata Group, which owns Air India, has extended heartfelt condolences and announced a comprehensive support package for affected families. Chairman of Tata Sons, N Chandrasekaran, said, 'No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured.' As part of the relief measures, the Tata Group has pledged ₹1 crore compensation for the families of each victim. The conglomerate will also bear all medical expenses for the injured, ensuring access to proper treatment and rehabilitation. Additionally, Tata has committed to supporting the development of hostel infrastructure at B J Medical College in Ahmedabad, strengthening the region's healthcare education system. Rescue operations are ongoing, and authorities continue to provide assistance on the ground. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
