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WSJ Tech News Briefing

Why EV Startup Fisker Failed to Become the Next Tesla

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 16 May 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

Famed car designer Henrik Fisker set out to build a company that could upend the auto industry. But, Fisker Inc. is struggling to keep its promise to investors and could be close to shutting down. WSJ reporter Sean McLain joins host Zoe Thomas to explain what happened. Plus, cybersecurity threats increased for businesses along with scrutiny of how they handle those attacks, according to a new WSJ survey. Sign up for the WSJ's free Technology newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

We've all felt left out and for people who move to this country that feeling lasts more than a moment.

0:07.0

We can change that.

0:09.0

Learn how it belonging begins with us.org.

0:12.0

Brought to you by the Ad Council.

0:14.0

Welcome to Tech News Briefing.

0:20.0

It's Thursday, May 16th.

0:22.0

I'm Zoe Thomas for the Wall Street Journal.

0:25.0

Nine out of ten companies say cyber security risks rose over the past year.

0:31.0

That figure comes from a new Wall Street Journal survey of

0:33.6

compliance professionals. What do they say needs to change to make their business

0:38.0

safer? David's McGallib, Bureau Chief for Risk and Compliance Journal Journal will join us with some answers.

0:45.1

And then, less than a year after its first vehicle model went on sale, Electric Car Maker

0:50.6

Fisker may be forced to shut down and it's not the only EV startup that finds itself in financial distress.

0:58.0

We'll find out why Fisker and others are struggling to live up to the promises they made to investors.

1:09.0

We're starting with that Wall Street Journal's survey.

1:12.0

According to its findings, cyber security risks shot up substantially.

1:17.0

Nearly all mid-sized companies, that's those with between $50 million and $1 billion dollars in revenue report feeling cyber threats

1:25.0

had increased. The journals surveyed around 300 compliance professionals

1:29.6

between mid-February and mid-March. Those are people who make sure a company adheres to its legal and

1:34.8

regulatory obligations. More than one-third of respondents worked in the financial service

1:40.1

sector and around 9% worked in the technology sector.

1:44.0

Joining us with more on this survey and what's behind the rise and concern for cyber threats

...

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