Reuters Travis Kalanick, Uber's ousted founder, will soon be in direct competition with his previous company after raising $400 million from Saudi Arabia for his new food-delivery startup, according to The Wall Street Journal. Travis Kalanick's net worth is $3.2 billion, according to Forbes. Kalanick keeps his personal life fairly under wraps, but he spends much of his fortune on real estate and travel. He has no clear ventures into philanthropy. Visit Business Insider's homepage for more...Business Insider
Combined VR/AR headset for 2022 to be followed by "lightweight" AR glasses in 2023.arstechnica.com
Uber reported third-quarter earnings Monday that beat Wall Street expectations for revenue but also showed a $1.1 billion loss. Shares fell as much as 7.4% in early trading Tuesday on the news. Uber has struggled to win over investors without turning a profit, but CEO Dara Khosrowshahi said Monday the company expects to profit in 2021. In addition, Uber's post-initial public offering lockup expires on Wednesday, which could send shares down further, according to Wedbush analyst Daniel...markets.businessinsider.com
Japan's Toshiba Corp posted its highest quarterly profit in two years on Wednesday and said it will buy out three of its listed subsidiaries as the industrial conglomerate moves on from accounting scandals and a management crisis.U.S.
News from around the web.SI.com
GE makes the LEAP engines used for the 737 Max, which has been grounded worldwide following two deadly crashes in the past year.CNBC
WeWork WeWork added a record number of desks in the third quarter, showcasing ousted CEO Adam Neumann's high-growth strategy, per an earnings presentation reviewed by Business Insider. Companies with more than 500 employees continue to make up a bigger share of WeWork's overall member base, a major focus for the company's new leadership. Overall, the company lost $1.3 billion in the third quarter, compared with $500 million in the third quarter of 2018. For more stories on WeWork, click...Business Insider