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The DoJ announced it is pursuing criminal charges against Huawei, the world’s largest telecom giant.
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The Hustle
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Sponsored by
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Holy Hua-camole: The US is pursuing criminal charges against Huawei
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
On Monday, a grand jury
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
charged
</a>
the world’s largest telecom giant with conspiracy to steal trade secrets, attempted theft of trade secrets, obstruction of justice, and 7 counts of wire fraud.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The indictments follow a 2014 T-Mobile civil suit accusing Huawei of stealing trade secrets related to a robotic phone-testing device known as “Tappy.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The Chinese company
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
denied
</a>
any wrongdoing and expressed its frustration for not getting the chance to help clear its name of the charges following the arrest of its CFO in Vancouver, B.C.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Sh*t’s gettin’ spicy
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
At the end of last year, Huawei Technologies CFO (and the company founder’s daughter) Meng Wanzhou was arrested in Canada, allegedly
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
violating US sanctions on Iran
</a>
under charges of a “fraudulent financial scheme.” She still faces extradition to the US.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The story less talked about is ‘Tappy’: From 2012 to 2014, T-Mobile partnered with Huawei and gave it partial access to its phone testing robot. But the DoJ
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
alleges
</a>
Huawei tasked its engineers working with T-Mobile to take photos, measure the robot, and even steal a part.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The US further
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
alleges
</a>
that, aside from emails that illustrate these actions, Huawei implemented a “bonus program” in 2013 that incentivized employees to steal competitors’ secrets.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Real life? Or John Grisham novel?
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The US government has
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
long fought
</a>
to keep Huawei out of the market, citing in 2005 that “industrial espionage” is part of China’s strategy for technological development.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Since then, US agencies and lawmakers continue to warn that Huawei poses a major security threat (due to alleged ties to the Chinese government).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
There’s only one problem: As of now, “substantial evidence” of these emails doesn’t
<em>
substantially
</em>
exist.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Conspiracy? Wei hope not.
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
As
<em>
TechCrunch
</em>
reports, some believe the absence of proof points to the fact the US is worried that China’s role in building out 5G infrastructure could promote spying in the future.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Bottom line: Tensions between US and China have spiraled considerably over the last year, and this only lands the rock further down the hill. If found guilty, Huawei could be faced with a fine of up to
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$5m
</a>
.
</p>
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<td align="center" id="link" style="font-family: 'Courier New',courier,monospace; font-size: 26px; line-height: 120%; padding: 15px 0; text-align: center;">
Let’s see those emails
</td>
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<tr id="news1">
<td>
<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Brand on the run: Equinox doubles down on the treadmill trend
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Inspired by the runaway success of its treadmill classes, the luxury fitness brand Equinox
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
launched
</a>
a whole new type of treadmill studio called ‘Precision Run.’
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Like all the rest of Equinox’s offerings, ‘Precision Run’ will be exhausting, extravagant, and expensive. But the treadmill business is on the incline across the board: Fitness brands like Orangetheory and Barry’s Bootcamp are also jumping on the tread train.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Treadmills just got trendy
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
At Equinox, ‘running’ class is about as far from your experience in middle school phys-ed as you can imagine.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Equinox joggers run on customized Woodway treadmills to the beat of efficiency-maximizing music under performance-enhancing lights while sipping CBD-infused water and breathing oxygen-enriched air.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After launching as a class in 2014, Precision Run soon became Equinox’s most popular exercise offering. Classes, which cost $36 a pop, last for around 50 minutes and include 30-40 runners.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The next SoulCycle?
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Equinox’s 135 locations sell out of all 500 Precision Run classes per week.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, since treadmill classes are the fastest-growing type of exercise class (increasing in popularity by
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
82%
</a>
last year, according to ClassPass data), Equinox hopes that standalone studios will bring in more runners -- and more dollars.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The first Precision Run studio will open this spring in Manhattan, with a location in LA to follow.
</p>
</td>
</tr>
<!-- START LINK -->
<tr>
<td id="link" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0 40px;">
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Run and done
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<td>
<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Billd, a startup that offers short-term construction loans, raised $60m
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Billd, the Austin fintech startup that works with materials suppliers across the US to extend short-term loans to contractors, announced it has raised
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$60m
</a>
in a Series A funding round.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Billd will use the capital raised to “expand product capabilities” and scale operations.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Construction is expensive
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Although New York City building costs are the
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
highest in the world
</a>
at over $362 per square foot, funds for building materials and labor are notorious for not coming through on time.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Construction suppliers usually expect payment for building materials within 30 days, which, as
<em>
VentureBeat
</em>
notes, is far shorter than the average 60 to 90 days it takes for contractors to receive payment for their work.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Billd’s solution is 120-day terms: Contractors get a range of financing options on material orders, which suppliers can approve the same day while getting upfront payments from Billd on behalf of the contractor.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
More like Bob the Build-ers
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The construction industry is hot right now: Analysts estimate the global construction industry to be around
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$10T
</a>
, so it’s no surprise that investors are eager to construct deals.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In 2018, North American construction startups raised $220.7m, up 348% YoY, and, according to CB Insights, architecture, engineering, and construction companies attracted $1.38B in investment last year.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
“The construction industry has by far some of the worst supply chain [financing] of any industry,” Billd CEO Chris Doyle said. “Billd provides subcontractors solutions so they can take that extra project, grow their business, and simplify their process.”
</p>
</td>
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
Build it and billd it.
</a>
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<td>
<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Collibra and its data governance competitors are the real winners of GDPR
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Collibra, a ‘data governance’ company that helps tech companies comply with data privacy laws, raised
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$100m
</a>
at a valuation of more than $1B.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Tech giants used to play fast and loose with data. But after Sheriff GDPR rolled into town, tech companies started taking data protection more seriously -- and Collibra has taken off.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
GDP-R you listening now?!
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
When the GDPR
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
went into effect
</a>
last May, tech companies had to start disclosing data breaches to consumers (and alerting consumers to all data collection).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But for businesses like Google that collect mind-numbing amounts of user info, it’s been hard to kick the dirty data habit: Last week, France fined Google for
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$57m
</a>
for failing to manage its data properly.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
As steeper fines loom, tech companies are finally turning to data governance companies for help getting clean and compliant. In Collibra’s recent funding round, Google was a primary investor.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
One company’s crisis is another company’s cash
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Founded in 2008 on the heels of the financial crisis, Collibra got its start helping big banks clean up their financial data.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Today, Collibra and data governance competitors like Informatica, Adaptive Insights, and Okera are growing rapidly thanks to the GDPR.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Last year was Collibra’s best year ever. Collibra, which has 300+ clients in industries ranging from finance to tech, expects demand for data governance to grow in coming years.
</p>
</td>
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Cheers to the gov’nance
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
The economy can be jumpy -- it’s time to care for your cash like an overprotective dad
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Don’t know if you’ve been paying attention, but the economy’s been on a
<em>
wild
</em>
ride as of late. And while we’re definitely in favor of plot twists -- just ask our Netflix account -- it’s not quite as fun when our savings account hangs in the balance.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
So, where should you seek shelter when preparing for an economic winter to arrive?
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Fort Diversification, where the fires are warm and online investing beyond the stock market is easy, thanks to
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
Fundrise
</a>
and their cutting-edge portfolios of private real estate.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Invest in real estate portfolios and maximize your earnings
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
Fundrise’s
</a>
custom real estate portfolios allow you to tap into the performance of private market investing, at a price that doesn’t require a millionaire’s pocketbook.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Their low-fee approach keeps the money where you want it most: invested in a historically stable and high-performing asset -- private real estate.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Plus, diversifying your holdings takes the stress out of investing. So, if one thing comes crashing down, it doesn’t mean the end of your future retirement plans.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Ready to sit back and give your portfolio a whole new dimension of diversification? Pop over to
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
Fundrise’s site
</a>
and take a look.
</p>
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You’ve been funderstruck →
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<em>
<strong>
The finer print:
</strong>
If legal terms and disclaimers are your jam, call
<a style="color: #ed4d1f; text-decoration: none;">
this Fundrise page
</a>
jelly.
</em>
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deals, deals, deals
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Eight Sleep - $250 off any Smart Mattress
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Plus 2 Free Pillows
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<img src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fbecker_20190129224106.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXOoA:Rp6NCpW4LUV1BqxCTSGpMfR3f0k5jR-GnXdPv1XUAvU" style="width: 80px;" width="80"/>
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Becker - 40% off any CPA product
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Over $1,500 in savings
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<img src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Feddie_b_jacket_20190129231733.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXOoA:Rp6NCpW4LUV1BqxCTSGpMfR3f0k5jR-GnXdPv1XUAvU" style="width: 80px;" width="80"/>
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All-Mountain Shell Jacket
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$199
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$79 from Eddie Bauer
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</a>
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Roku TV Wireless Speakers
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<br/>
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$200
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$150 from Roku
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<img src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fcoffee_20190129232350.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXOoA:Rp6NCpW4LUV1BqxCTSGpMfR3f0k5jR-GnXdPv1XUAvU" style="width: 80px;" width="80"/>
</a>
</td>
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Insignia 5-cup Coffee Maker
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Space Force Lieutenant
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5 years, 10 months ago - news@thehustle.co
The DoJ announced it is pursuing criminal charges against Huawei, the world’s largest telecom gia...