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Your news for Wednesday, August 22, 2018 |
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Google has been sued by a San Diego man, who says the tech giant invaded his privacy and that of others by storing location data even when the function was turned off. Napoleon Patacsil says Google's practice violates the California Invasion of Privacy Act, and the state's constitutional right to privacy. He's asking for unspecified damages from Google, along with an order forbidding the search engine giant from storing location data without permission. (St. Louis Post-Dispatch)
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First, Slack bought the intellectual property to Atlassian's HipChat, which had been one of its chief rivals. Then, no less than Microsoft recognized Slack as a major rival to the Microsoft Office suite in an official regulatory filing. Now, Slack can add one more to its win column, as it takes in a whopping $427 million in an investment round led by Dragoneer Investment Group and General Atlantic, with participation from T. Rowe Price, Wellington Management, and others, including its existing roster of investors. (Business Insider)
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SoftBank-backed construction unicorn Katerra was founded on the ambitious promise that Silicon Valley could fix the building industry with a super-efficient company that did everything — from design to construction — using prefabricated parts built at a factory. That premise helped the Menlo Park-based startup raise $1.1 billion to date, at a $3 billion valuation. But insiders say the company has seen a revolving door of executives, many of whom know little about the construction industry. (San Francisco Business Times)
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Facebook has begun to assign its users a reputation score, predicting their trustworthiness on a scale from zero to one. The previously unreported ratings system, which Facebook has developed over the past year, shows the fight against the gaming of tech systems has evolved to include measuring the credibility of users to help identify malicious actors. (Spokesman-Review)
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Puerto Rico had $74 billion in bond debt and $49 billion in unfunded pension liabilities as of May 2017, according to a debt investigation report issued Tuesday by the Financial Oversight and Management Board for Puerto Rico. (Pensions & Investments)
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Google has been sucking up consumer data in surprising ways—such as when browsers are in "incognito" mode—according to a new report. (Ad Age)
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Federal prohibition has given rise to a number of dedicated funds that are looking to capitalize on the "short window" of opportunity before institutional investors start writing checks. Investors who are patient and willing to take on the risk stand to make huge gains. (Business Insider)
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Once upon a time, if you wanted to start a small business, you needed a whole bunch of stuff. You needed an office or store, office equipment, staff and a website. Now, it’s possible to run many small businesses entirely from the one device you probably already have in your pocket – your smartphone. (Chicago Sun Times)
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Workplace chat software maker Slack Technologies continued its fervent pace of fundraising with a $427 million round of investment. The deal, led by private equity firms Dragoneer Investment Group and General Atlantic, values the business at about $7.1 billion, the San Francisco-based company said on Tuesday. (Ad Age)
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Microsoft Corp. has detected and seized web domains created by cyber-attackers linked to the Russian military, in a potential attempt to manipulate and disrupt the U.S. midterm elections. (Ad Age)
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Twenty-two states ask appeals court to bring back net neutrality (TechCrunch)
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Lyft and Aptiv complete 5,000 self-driving rides in Las Vegas (Engadget)
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