The Supreme Court announced several technology-related rulings, LG will shut down its smartphone business and we will take a deep plunge into the StockX story. This is your daily crunch for April 5, 2021.
Big story: Supreme Court sides with Google in Oracle suit
The US Supreme Court today announced some decisions related to technology. In one, it overtook Oracle’s win in its copyright battle with Google, requiring Google to pay Oracle $ 8 billion to incorporate pieces of Oracle’s Java software language into the Android mobile operating system.
Justice Stephen Breyer wrote, “In reviewing that decision, we hold, for the sake of argument, that the material was copyrighted.” “But we believe this issue constitutes a fair use for copying here. Therefore, Google’s copying did not violate copyright law.”
In addition, the court pronounced a ruling that then-President Donald Trump had violated the First Amendment by circulating critics on Twitter. In his opinion on the case, Justice Clarence Thomas argued that companies such as Facebook and Google “are on the communications network below, and they take information from one user to another” and can therefore be regulated similarly to telecommunications carriers.
LG is shutting down its smartphone business worldwide – LG said it would focus its resources in “growth areas” such as electric vehicle components.
The Labor Relations Board’s favor with Amazon employees over the firing – Emily Cunningham and Maran Costa were among the company’s most vocal critics on staff – before being fired last year.
Spotify has opened a second individual playlist for sponsors after Discover Weekly in 2019 – Repeat On is now open to advertising sponsors.
Startup, Funding and Venture Capital
Swiggy of India has assessed $ 5B in a new fund of $ 800M – Swiggy is preparing to expand its business after cutting its workforce to navigate the epidemic.
Leaf company, co-founder of Knotel, describes investor Newmark as ‘a staring horse’ – a property acquired by startup, investor and commercial real estate brokerage Newmark, filed for bankruptcy earlier this year.
Byju acquired Indian tutor Aakash for around $ 1B – Aakash is a 33-year-old chain of physical coaching centers.
Additional crisis advice and analysis
StockX EC-1 – Now valued at $ 2.8 billion, StockX has facilitated more than 10 million transactions.
Chinese startups rush to bring alternative proteins to people’s plates – 2020 may be the dawn of alternative proteins in China.
(Extra Crunch is our membership program that helps founders and startup teams move forward. You can sign up here.)
What happens to your NXT and crypto assets after you die? – A new study has found that only one in four consumers have someone in their life who knows all their passwords and account details.
Epidemic to fuel more than half of all smartphone users in the US by 2025, fueled by contactless mobile payments – according to a recent report by analyst firm eMarketer, mobile payment usage increased by 29% last year in the US
Start your engine, ClearTips is (virtually) headed to Detroit – Mark April 15 on your calendar!
Daily Crunch is the roundup of ClearTips among our biggest and important stories. If you want to have it delivered to your inbox every day at 3 pm in the Pacific, you can subscribe here.