Finance

Browse the latest news about finance in Southern California from dot.LA.
Photo by engin akyurt on Unsplash

As the tech industry reeled last year from a shaky macroeconomic environment, mass layoffs and poor stock performance, investors and venture capitalists began to tighten their purse strings. The proof is in the numbers: global venture funding slid from $681 billion to just $445 billion between 2021 and 2022, according to data from Crunchbase.

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In a brief investor relations call today, Mullen Automotive approved a reverse stock split. The ratio of the reverse split is yet to be determined, but could range from 1-for-2 up to 1-for-25 and will be determined by the company’s Board of Directors. Such a reverse split could help the company raise its share price above $1 and thus avoid delisting on the Nasdaq Stock Exchange.

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Steve Case

When you think of thriving tech scenes, San Francisco and the Bay Area probably come to mind. Steve Case has spent most of his career working to expand the tech scene out of the Bay area bubble.

“I recognize great ideas are everywhere, great entrepreneurs are everywhere,” Case said. “But for a lot of people…they don't really have the opportunity to turn those [ideas] into companies.”

On this episode of Office Hours, AOL Co-founder and Revolution CEO and Chairman Steve Case talks about empowering tech communities through his work at Revolution and his entrepreneurial journey in founding one of the most important contributions to the internet – AOL.

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