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Uber profitable again, SBF guilty, Biden's AI EO + Motive's John Habeck | E1842
This Week in Startups
Guilty Verdict and the End of the Crypto Era
S.B.F. Sam Bankman-Freed was found guilty on all charges for stealing $8 billion from customers. He faces multiple charges including wire fraud, securities fraud, commodities fraud, and money laundering conspiracy. Extradited from the Bahamas, other charges will be settled in a different court case. Sentencing is on March 28th, 2024, with a possible 115-year prison sentence. Judge Kaplan seemed annoyed at S.B.F. during the trial. This marks the end of an era for cryptocurrencies. Additionally, WeWork goes bankrupt, making it an extraordinary week with significant events happening within five days of each other. It's like poetry that things happen in threes, and now Uber is profitable.
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