What Elon Wants | New York’s VC Moment | DoorDash Bursts Into Europe

Plus: Tesla Had 5 Founders, Why Only Two Got Really Rich?

Good morning.

Tesla shares kept sliding after Elon Musk's Twitter poll, but there might be method in this apparent madness. We’re also looking at why New York is becoming a hotspot for venture capitalists and DoorDash’s $8 billion Europe move. Don’t miss this story looking at what happened to the three Tesla cofounders who didn’t become billionaires.

In The News Today

Google’s attempt to challenge a $2.8 billion antitrust fine for favoring its own shopping services in search results was rejected by Europe’s second-highest court.

A first draft agreement emerged from COP26 negotiations. It mentions the need to reduce emissions by 45% by 2030 and phase out coal as well as fossil fuel subsidies—but lacks details on finance for countries most vulnerable to climate change.

Top Take-Aways

With a tweet, Elon Musk wiped billions from Tesla's valuation and his own net worth—but selling shares of the electric automaker may be more a question of need, rather than want, for the PR-savvy CEO.

Democrat lawmakers are confident Congress will pass the $1.75 trillion Build Back Better Act, a key bill needed to fund President Joe Biden's social safety-net and plans to tackle climate change, as soon as next week.

An underground hacker-for-hire operation targeted thousands of Gmail, Protonmail and Telegram accounts belonging to anyone on whom their paymasters want to spy—including Belarusian presidential candidates, journalists, and even a string of IVF clinics.

New York is having a VC moment. Pandemic work flexibility and red-hot deal flow in sectors like fintech, crypto and digital health have West Coast firms from Andreessen Horowitz to Lightspeed, Threshold and many others hiring New York-based investors like never before.

DoorDash, the U.S.’s largest food delivery company, has accelerated plans to expand its food delivery business into Europe with a $8 billion all-stock takeover of Finnish startup Wolt. 

Meta said it will no longer allow ads to target users on the basis of personal information such as race, political affiliation or sexual orientation, as campaigners against climate misinformation urge Facebook’s parent company and other tech giants to adopt a common definition of falsehoods about climate change.

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Amazon-backed electric truck startup Rivian reportedly priced its initial public offering at a higher-than-expected $78 per share.

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If you’re struggling to improve employee retention, it’s time to act quickly and thoughtfully. Here are five strategies that will help you succeed in today’s war for top talent.

There is a lot to be said for building strength, extending adaptability and learning new capabilities—but “resilience” may be losing its meaning. Here’s some thinking that goes beyond the clichés.  

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