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That's 0.34% of Uber's equity. That really puts Uber's valuation in perspective...
https://techcrunch.com/2018/02/09/uber-settles-lawsuit-with-waymo/
Uber settles with Waymo for $245M
Posted 6 years, 10 months ago
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Comments
Can someone explain to me what this was about
Waymo is an Alphabet (Google) company which is developing self driving cars. So, think of it as Google's autonomous vehicle (AV) division.
In 2016, one of the top engineers at Waymo left the company to form his own company, which was quickly bought by Uber to start their own AV division. For $600M in stocks I might add.
But it turns out this engineer took proprietary stuff from Waymo with him to form his new company. That's illegal on its own. But it is also alleged that he colluded with Uber in doing so.
In other words, Uber knowingly and deliberately came up with a plan to steal software from Waymo. And succeeded.
Allegedly.
That was helpful, thanks.
This article gives a great quick summary!
don't blame them for settling. Who knows what a jury would have decided. and I think Uber is just trying to move on from their sordid past at this point, post-Kalanick...
I would settle a lawsuit for 0.34% of my net worth any day. Actually I think that means they'd have to pay ME.
Well, that ended quickly. I was hoping to see some crazy action. We were all just getting into it.
I mean, come on. I wanted Travis being beaten up by the Google lawyers, and then Larry and Sergei getting grilled by Uber lawyers. We were waiting for a show down!!!!
seriously. no juicy stories. i guess both parties just wanted to move on. more it dragged the worse, and remember all other competitors (Mercedez, Toyota, etc.) were staring at it too. It wouldn't have done them any good to drag this out.
Just like everybody else, I have no idea if that's a lot or not. I'd like to know by looking at the reactions of these people. you know...like did Uber executives go, "oh crap." or wer ethey like, "sweet, we got away."
They must have talked this over out of court. not technicnally but this was too easy.
Wow that was fast! I thought this would get dragged out forever.
no kidding. didn't take a week. I think both sides had all the facts and discoveries done. pretty much ready going in.
Chump change.