Google's Star Engineer Is Now Its Enemy Number One

February 24, 2017

Feb 24: In 2013, Anthony Levandowski was the star of Google's self-driving car project. The tall, swaggering engineer was featured in a long New Yorker story about the search engine willing the impossible technology into reality.

EngineerLess than four years later, he is Google's enemy number one.

On Thursday, Waymo, the Alphabet Inc. company formed from Google's self-driving project, filed a blistering lawsuit accusing Levandowski of taking incredibly valuable intellectual property from Alphabet to his current company, Uber Technologies Inc.

Waymo's lawsuit hinges on a series of alleged moves from Levandowski in the days leading up to his departure from Alphabet in January 2016. His web searches, downloads and access to an external drive left behind digital footprints. When exposed, they were closely scrutinized by his former employer --which is now citing them as central to its lawsuit, a rare intellectual property claim from Alphabet.

The legal case also deepens a growing rift between the two companies, which are becoming bitter rivals in mapping, autonomous vehicles and -- potentially -- Uber's core business of ride-hailing services.

At the center of it all is the six foot seven Levandowski

The prodigious engineer has spent much of his career chasing a dream of placing robotic cars on the road. While at the University of California at Berkeley, he entered a self-driving motorcycle in the 2004 DARPA Grand Challenge, a historic event for the young field.

He also started 510 Systems, a robotics firm building lasers for autonomous vehicles. The startup once ran a stunt with a self-driving pizza car. Levandowski started at Google in 2007, working on its Street View unit, where he played an instrumental role in building its mapping hardware to fit on cars.

After being recruited to its secretive car project, he continued to work on 510 Systems, according to two people familiar with the situation. Google eventually acquired the startup as it pushed deeper into self-driving technology.

Years later, Waymo would detail how Levandowski had secretly plotted his next startup, Otto, while also working for Google. Uber acquired Otto in August for $680 million.

According to Waymo's suit, Levandowski installed "specialized software" on his corporate laptop, in December 2015, loading it with 14,000 confidential files about lidar technology, vital to autonomous driving. "Levandowski took extraordinary efforts to raid Waymo's design server and then conceal his activities," the suit reads.

In January of last year, he began telling Alphabet colleagues about plans to "replicate" its technology at a competitor. The suit says he visited Uber's San Francisco headquarters on January 14, 2016 and the next day he formed a company that would become Otto.

Less than two weeks later, he resigned from Alphabet without notice.

Alphabet's lawsuit comes after a wave of significant departures from its car unit, which has still not delivered a commercial service despite years of work.

Some workers may have had additional impetus to leave. At the onset of its car project, Google set up a pay system that would reward early employees greatly upon departure, as Bloomberg News reported earlier. "Notably," Waymo's lawsuit reads, "Otto announced the acquisition [by Uber] shortly after Mr. Levandowski received his final multi-million dollar compensation payment from Google."

Levandowski was among the first to exit.

In a statement, Uber said: "We take the allegations made against Otto and Uber employees seriously and we will review this matter carefully." Levandowski didn't respond to phone calls seeking comment. "We did not steal any Google IP,'' Levandowski told Forbes last year in comments that were republished Thursday. Just want to make sure, super clear on that. We built everything from scratch and we have all of the logs to make that-just to be super clear.''Uber placed him atop their nascent autonomous vehicle efforts in July. The next month the company unveiled plans to bring self-driving cars to Pittsburgh.Waymo's suit caps a horrendous week for Uber, which is reeling from damning public charges of sexual harassment in its ranks. The company's culture has been slammed and Eric Holder, a former U.S. attorney general, has been hired to investigate.Former Google colleagues described Levandowski as "very driven," with a personality similar to Uber Chief Executive Officer Travis Kalanick.That's a comparison Kalanick made himself when he announced the acquisition of Otto."I feel like we're brothers from another mother," he said at the time.

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Agencies
June 22,2020

Chennai, Jun 22: Commuting the death sentence to life imprisonment for five convicts, the Madras High Court on Monday set free Chinnasamy, the main convict, who had also been sentenced to death in the Udumalpet Shankar honour killing case.

A Division Bench comprising Justice M. Sathyanarayanan and Justice M. Nirmal Kumar also dismissed the appeal by the state police against the acquittal of three persons by a lower court.

The Bench ordered the five convicts sentenced for life to undergo a jail term of not less than 25 years.

In 2016, V. Shankar, who had married C. Kausalya, was killed by a gang in Udumalpet in Tamil Nadu. The gang also injured Kausalya in the attack.

It was alleged the parents of Kausalya -- Chinnasamy, Annalakshmi -- were against the marriage.

P. Pandidurai, the uncle of Kausalya at the behest of Chinnasamy and Annalakshmi had hired a gang to kill Shankar.

The gang killed Shankar in broad daylight in a public place and Kausalya too got injured in the attack as she tried to save her husband.

The Principal District and Sessions Court in Tiruppur had convicted and sentenced to death six accused persons -- Chinnasamy, P. Jagadeesan, P. Selvakumar, M. Manikandan, M. Mathan alias Michael and P. Kalaithamilvaanan.

The court also sentenced two other accused, K. Dhanraj for life and Manikandan to a five year jail term, while acquitting Annalakshmi, Pandidurai and Prasanna.

The convicts had filed an appeal against their sentence in the Madras High Court while the police filed an appeal against the acquittal of three persons.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
June 9,2020

Soon, you may be able to withdraw cash from an ATM without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the COVID-19 pandemic.

The ‘contactless' solution, currently under demo at interested banks, enables a customer to perform all the steps required to withdraw cash from an ATM using the mobile app itself. 

The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. 

This includes entering the amount and mPIN required to dispense the cash from the ATM machine. 

According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming.

"The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd.

With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software.

AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. 

The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. 

This is how the solution works.

Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen.

Next, confirm the amount by clicking on ‘proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done.

"The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies.

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