Waymo, Alphabet's autonomous driving wing, is taking Uber to court over allegations that former employee Anthony Levandowski stole trade secrets when he joined Uber. Aarian Marshall, staff writer for Wired Transportation, is covering the case.
Marshall says the case comes down to whether Levandowski stole trade secrets or whether Uber figured it out independently. Marshall explains it won't be good enough for Waymo just to prove that information was stolen. The company will have to be able to prove that what Levandowski took was actually a trade secret, instead of something any reasonable self-driving car engineer might figure out on their own.
Marshall says Waymo is currently winning the autonomous car race. If Waymo receives a favorable outcome in the case, it could prove debilitating for Uber.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
