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Daily Crunch: Facebook brings news sharing back to Australia
5 days ago | By Tech Crunch
The Facebook-Australia news battle seems to have reached an end, Android gets an update and Lucid Motors is going public via SPAC. This is your Daily Crunch for February 23, 2021.
The big story: Facebook brings news sharing back to Australia
Last week, Facebook responded to the Australian government's proposed law requiring internet platforms to strike revenue-sharing agreements with news publishers by blocking news sharing and viewing for users in the country. But with the government amending the law, Facebook said it will restore news sharing in the “coming days.”
Among other things, the...
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Lucid Motors is set to go public with a $24 billion valuation. It probably couldn't have happened without billions in Saudi money
5 days ago | By Business Insider
Summary List Placement Somewhere out there, there's a graveyard of Tesla rivals - metal skeletons of electric cars that tried and failed to challenge Elon Musk.
Lucid Motors probably would've been one of them, had it not been for Saudi Arabia.
After struggling for years, Lucid Motors was saved by a $1.3 billion investment from Saudi Arabia's sovereign wealth fund in 2019. The huge sum gave the Saudi fund a 67% stake in the company, according to Wired Middle East.
Flash forward to today and Lucid Motors is set to go public with the largest-ever SPAC deal, pocketing $4.4 billion at a...
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