According to a Treasury Department report, a number of tech startups have received funds from the federal government’s Paycheck Protection Program, forgivable loans intended to pay workers’ salaries. Cloud software company C3.ai, for example, valued at $3.3 billion, got a $5 million Paycheck Protection Program loan. Other startups have been denied loans, however, when the federal authorities deemed their venture capital partners an “affiliated business.” Meanwhile, almost 70,000 employees of tech startups recently lost their jobs. Continue reading Federal Payroll Loans Unevenly Distributed to Tech Startups

Toronto has become an attractive locale for Silicon Valley companies to set up shop. Intel plans to build a graphics-chip design lab there, Uber Technologies will open an engineering hub, and Google’s parent, Alphabet, aims to build a new Toronto campus as part of its “smart city” on Lake Ontario. Microsoft also said it will increase its Canadian workforce by 20+ percent. All that activity has led Silicon Valley Bank, which funds startups and venture capital firms, to open an office in what is the largest Canadian city. Continue reading Toronto Has Become a Magnet For Major Tech Companies