Here s what s going on in tech on Thursday…
–Chinese electronics giant LeEco has plans to take on Tesla with a new $1.8 billion car manufacturing facility it will build in Hangzhou, China. The goal is to produce 400,000 cars a year.
—Arianna Huffington is leaving the HuffPo for a new wellness media startup called Thrive Global. Regardless of one s thoughts on the HuffPo, it, and Huffington had an impact on how news is reported today.
–Google Ventures founder and leader Bill Maris, is said to be leaving the firm. Google Ventures had about $2.4 billion under management in 2015.–A study from Rand Europe says the U.S. was the No. 1 market for buying illegal drugs online earlier this year. The U.K. is tops in Europe.–No iPhone 7, yet? No problem! One of Apple s biggest wholesalers, in China, is said to already be taking pre-orders for the smartphone. Apple is reportedly planning an event in early September to unveil the next model of the iPhone.–President Obama reads 10 letters from American citizens every night. And yours could be one, if you contact the president via the White House s new Facebook Messenger bot.–Chinese e-commerce giant Alibaba reported record quarterly growth, with revenue from mobile source surpassing desktop revenue for the first time.–Is Pokémon Go passé, already? This No Man s Sky game has become so big, so quickly, that 10 million virtual species were found in one night.—Federal regulators have dealt a big blow to cities trying to compete with big internet service providers.Photo: LeEco Global Head of Corporate Finance and Development Winston Cheng at a LeEco press conference in Hollywood on July 26 where LeEco announced it had acquired VIZIO for $2 billion. LeEco is spending $1.8 billion on a plant to build electric cars and challenge Tesla. (Dan Steinberg/AP Images for LeEco)
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