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Last Friday, the Wall Street Journal reported that various mutual funds and private equity firms were writing down the value of their stakes in unicorn startups like Zenefits and Jawbone. Bloomberg's Matt Levine has the clearest explanation of what this means: Private financing markets aren't much different from public markets anymore, and they won't shield companies from market turmoil.
[Matt Levine | Bloomberg View]
Last year, Mercedes, BMW and Audi bought Nokia's Here Maps technology for $3 billion. Now, the Here Maps consortium is looking to add members, like Renault-Nissan, to get more resources to further develop Here's self-driving car applications.
[Ilona Wissenbach | Reuters]
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