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Rani Molla

Bezos-backed EV company teases $25,000 trucks ahead of Tesla earnings, where low-cost Model Ys expected to be delayed

Slate Auto, the stealth electric vehicle company backed by Amazon founder Jeff Bezos, has recently been pretty loud about its ~$25,000 Tesla competitor. It’s apparently planted a number of concept versions of the new vehicle on California streets, including this one ridiculously wrapped in pink and blue spotted by The Autopian and advertising what appears to be a fake business for driving babies around until they fall asleep.

“It’s a marketing tactic that teases the secretive startup’s strategy to sell a ‘Transformer’-like vehicle,” according to TechCrunch, which uncovered the company last month. TechCrunch added that other versions of the truck look like a hatchback or a pickup truck.

The vehicle is expected to be formally unveiled at a launch event at Long Beach Airport on April 24.

EV publication Electrek called the move a “masterstroke of marketing,” since Tesla, which reports earnings today, scrapped plans for its long-awaited $25,000 vehicles. Now even lower-cost versions of existing models are expected to be delayed.

To us, this seems like just the latest volley in a battle of egos between billionaires.

“It’s a marketing tactic that teases the secretive startup’s strategy to sell a ‘Transformer’-like vehicle,” according to TechCrunch, which uncovered the company last month. TechCrunch added that other versions of the truck look like a hatchback or a pickup truck.

The vehicle is expected to be formally unveiled at a launch event at Long Beach Airport on April 24.

EV publication Electrek called the move a “masterstroke of marketing,” since Tesla, which reports earnings today, scrapped plans for its long-awaited $25,000 vehicles. Now even lower-cost versions of existing models are expected to be delayed.

To us, this seems like just the latest volley in a battle of egos between billionaires.

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Meta projected 10% of 2024 revenue came from scams and banned goods, Reuters reports

Meta has been making billions of dollars per year from scam ads and sales of banned goods, according internal Meta documents seen by Reuters.

The new report quantifies the scale of fraud taking place on Meta’s platforms, and how much the company profited from them.

Per the report, Meta internal projections from late last year said that 10% of the company’s total 2024 revenue would come from scammy ads and sales of banned goods — which works out to $16 billion.

Discussions within Meta acknowledged the steep fines likely to be levied against the company for not stopping the fraudulent behavior on its platforms, and the company prioritized enforcement in regions where the penalties would be steepest, the reporting found. The cost of lost revenue from clamping down on the scams was weighed against the cost of fines from regulators.

The documents reportedly show that Meta did aim to significantly reduce the fraudulent behavior, but cuts to its moderation team left the vast majority of user-reported violations to be ignored or rejected.

Meta spokesperson Andy Stone told Reuters the documents were a “selective view” of internal enforcement:

“We aggressively fight fraud and scams because people on our platforms don’t want this content, legitimate advertisers don’t want it, and we don’t want it either.”

Per the report, Meta internal projections from late last year said that 10% of the company’s total 2024 revenue would come from scammy ads and sales of banned goods — which works out to $16 billion.

Discussions within Meta acknowledged the steep fines likely to be levied against the company for not stopping the fraudulent behavior on its platforms, and the company prioritized enforcement in regions where the penalties would be steepest, the reporting found. The cost of lost revenue from clamping down on the scams was weighed against the cost of fines from regulators.

The documents reportedly show that Meta did aim to significantly reduce the fraudulent behavior, but cuts to its moderation team left the vast majority of user-reported violations to be ignored or rejected.

Meta spokesperson Andy Stone told Reuters the documents were a “selective view” of internal enforcement:

“We aggressively fight fraud and scams because people on our platforms don’t want this content, legitimate advertisers don’t want it, and we don’t want it either.”

$350B

Google wants to invest even more money into Anthropic, with the search giant in talks for a new funding round that could value the AI startup at $350 billion, Business Insider reports. That’s about double its valuation from two months ago, but still shy of competitor OpenAI’s $500 billion valuation.

Citing sources familiar with the matter, Business Insider said the new deal “could also take the form of a strategic investment where Google provides additional cloud computing services to Anthropic, a convertible note, or a priced funding round early next year.”

In October, Google, which has a 14% stake in Anthropic, announced that it had inked a deal worth “tens of billions” for Anthropic to access Google’s AI compute to train and serve its Claude model.

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