4.2 • 365 Ratings
🗓️ 8 July 2024
⏱️ 6 minutes
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0:00.0 | Hello and welcome back to Equity Tech Grunches flagship podcast about the business of |
0:15.1 | startups. Today is July 8th, 2024. I'm Becca Scutak and this is our Monday show where we take a |
0:21.2 | look at the weekend and get you ready for the week ahead. |
0:24.0 | We're coming off the July 4th holiday weekend and are ready to get back into it. |
0:28.1 | While you may have been off last week, Equity was here, so make sure you go check |
0:31.4 | out Kirsten's interview with VC John McNeil. |
0:34.0 | But first, today's show. Today we're going to be talking about an update on Fisker's bankruptcy, |
0:39.2 | what Open AI's data breach means for people working with AI startups and CEDVC are now turning to new |
0:45.3 | pro rata funds. |
0:46.9 | All sounds pretty interesting so let's get started. First up today we have an update on a story we've been tracking for quite a while now and that would be Fiskers slide into bankruptcy. |
0:59.4 | The update this week is that Fisker asks its bankruptcy court to sell its EVs at an average of $14,000 each, a little bit lower than the $70,000 starting price, many of them once were asking for. |
1:11.0 | Now we told you late last month that after months of |
1:13.7 | product issues, recalls, and lawsuits the EV startup founded by famed designer |
1:18.0 | Henric Fisker had filed for Chapter 11 bankruptcy protection. The company has |
1:22.3 | an estimated assets of $500 to $1 billion and |
1:25.4 | liabilities of between $100 million and $500 million according to the filings which |
1:29.8 | are some pretty large ranges if you think about it. |
1:33.0 | Also according to the court documents, |
1:34.6 | Fisker reported between 200 and 999 creditors, |
1:38.8 | another big range, including SAP, Adobe, Salesforce, and Ances. |
1:44.0 | Last week, Fisker announced that it had a willing buyer for its remaining inventory of all electric |
1:48.6 | ocean SUVs and has asked its Delaware bankruptcy court judge overseeing the case to approve the sale. |
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