Good morning! Here’s the technology news you need to know this Wednesday.
1. Ridesharing startup Sidecar will shut down on December 31. It was an early ridesharing pioneer but failed to compete with Uber and Lyft.
2. Spotify has been hit with a class action lawsuit seeking at least $150 million (£101 million) in damages. Musician David Lowery claims that Spotify hasn’t paid out royalties for music.
3. iPhone shipments could be much lower than anticipated this quarter. A new report claims shipments could be down as much as 10% on expectations.
4. The piracy group that leaked Quentin Tarantino’s new movie and planned to release many other films has shown signs of slowing down. The release group seems to have abandoned its plans.
5. Palantir lets employees sell $425,000 ($286,000) worth of stock per year. The database company was recently valued at $20 billion (£13.4 billion).
6. Google has hired high-profile communications manager Gabriel Stricker to lead the policy and communications team for Google Fibre. Google Fibre is the company’s plan to bring fibre-optic internet to the US.
7. A New York appeals court threw out Facebook CEO Mark Zuckerberg’s lawsuit against the law firms that represented a man who claimed to own 50% of Facebook. Zuckerberg had claimed that the law firms should have known that documents presented by Paul Ceglia were fraudulent.
8. Tesla is now so large that it has a valet parking service for its employees. Tesla’s total headcount went from just 899 in 2010 to 14,000 now.
9. European venture capitalist Brent Hoberman is leaving PROfounders Capital, the VC firm he set up in 2009. He’s hoping to raise his own fund.
10. Apple gave its new chief of hardware $9.6 million (£6.4 million) in stock. Sruoji was awarded 90,270 restricted stock units on October 5.