Venice will activate its Mose flood barrier system today for the first time, as bad weather and particularly high tides are set to hit the canal city. This will be the first real test of the mobile gates, whose construction has been wildly over budget, years late, and riddled with corruption.
Venice, in the northern Italian region of the Veneto, is braced for storms over the weekend and is expected to see
SPACs, or special purpose acquisition companies, are all the rage right now, and people are emerging from all corners to raise them.
Among the latest entrants — and someone who might be of interest to Silicon Valley watchers — is Emil Michael, a former Uber executive and top lieutenant to former CEO Travis Kalanick. Earlier today, Micheal registered plans with the SEC to raise $250 million in an IPO for a blank-check company that will broadly acquire a company in the tech sector.
IPO Edge had reported earlier today that the SPAC might be in the works.
The filing lists as special advisors Alphabet’s former executive chairman Eric Schmidt, and Betsy Atkins, a founder of Ascend Communications and investor who has served on so many boards that last year she wrote a book about it. Indeed, among her other roles currently, she’s on the boards of Volvo, Wynn Resorts, and
Data-mining company Palantir is set to go public on Wednesday when its shares start trading on the New York Stock Exchange. Dubbed the “most secretive” Silicon Valley startup, it has faced criticism for its ties to the Department of Homeland Security and has been accused of complicity in human rights abuses, while other critics have raised concerns that insiders will have excessive control once the company is public.
Here’s why Palantir is attracting investors’ attention.
1. It’s valued around $16 billion, but isn’t profitable
Palantir has never turned a profit, its securities filings show. But the company has reduced its losses over the years. In 2019, it generated revenue of about $743 million, a 25% jump from the previous year. In the first half of 2020, Palantir’s loss shrank to $110 million, from $285 million in the year-before period.
Of course, it’s not unusual for a technology company to continue