Musk and Yaccarino Share Power at X, but There Are Tensions

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.6 • 1.6K Ratings

🗓️ 15 July 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When Linda Yaccarino became CEO of X, the social media company’s owner Elon Musk said the pair would divide responsibilities. But about a year into her tenure at the company she’s learning the pitfalls of sharing power with the billionaire. WSJ reporter Alexa Corse joins host Zoe Thomas to discuss. Plus, the top 100 national-security startups win few government contracts. We’ll explain what that means for companies and the venture-capital backers. Sign up for the WSJ's free Technology newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:15.0	Learn more at Anthropic.com slash Claude.
0:19.0	Welcome to Tech News Briefing. It's Monday, July 15th. I'm Zoe Thomas for the Wall Street Journal.
0:28.0	The US government has spent $22 billion in recent years on technology from the top 100 national security startups.
0:36.8	That's actually a relatively small portion of the overall contract spending by the government.
0:42.1	And it's less than half of what venture capitalists
0:44.8	have invested in those same companies. We'll explain what's behind that. And
0:49.4	then ex-C CEO Linda Yacharino keeps running into a problem.
0:54.0	She doesn't always have the final say.
0:56.0	We'll tell you about a deal where that problem was on display. But first, a report released last week from the nonprofit Silicon Valley Defense Group
1:11.0	has new numbers on the amount of money the federal government is spending
1:14.7	on technology from top national security startups.
1:18.2	The group started a decade ago with the aim of bringing more startup innovation to the Defense
1:22.3	Department. According to the Defense Department.
1:23.2	According to the report, the top 100 venture capital-backed national security startups
1:28.1	have raised a combined $53 billion in private funding since their inception.
1:34.0	Those same startups have collectively earned $22 billion in revenue from federal awards.
1:40.0	Traditional defense contractors like Lockheed Martin and Boeing receive hundreds of billions of dollars in awards each year.
1:46.7	Here to tell us more is our reporter Heather Somerville.
1:49.9	Heather, what has the defense department said about this report?
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