Aug 31, 02:37 PM

Amazon Talent Heist: Covariant Founders Hired Amid FTC Scrutiny

Amazon has made a strategic move in the AI robotics sector by hiring the founders and 25% of the staff from Covariant, a company valued at $625 million. This talent heist is part of a broader trend among Big Tech firms to circumvent traditional acquisition processes, potentially to avoid scrutiny from the Federal Trade Commission (FTC). Instead of acquiring companies outright, these firms are opting for hire-and-license deals, which involve hiring key personnel and obtaining non-exclusive licenses to use the company's technology. Covariant had previously raised $222 million from investors, including Index Ventures. The implications for the remaining 75% of Covariant's employees and its investors remain uncertain. This move could be significant in the robot learning space.

#Amazon #Covariant #Big Tech #Federal Trade Commission #FTC #Index Ventures

Written with ChatGPT (GPT-4o).

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Amazon Talent Heist: Covariant Founders Hired Amid FTC Scrutiny

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