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Why former Google ads boss Sridhar Ramaswamy is building an ad-free search engine

In this articleGOOGLGoogle’s senior vice president of advertising and commerce Sridhar RamaswamyKrisztian Bocsi | Bloomberg | Getty ImagesThe following Is a transcript of Big Technology Podcast, edited for length and clarity. You can listen to the full episode on Apple Podcasts, Spotify, or your app of choice. Sridhar Ramaswamy is CEO of Neeva, an ads-free search engine he helped found after running Google’s ads and commerce business. Ramaswamy spent seventeen years inside Google, and eventually grew disillusioned with its ad business. Now, he’s trying to build the solution with $77.5 million in funding. In this conversation, we discuss his evolving view on advertising, what decoupling search from ads allows from a product standpoint, and how the current antitrust environment is opening Google up to competition.Alex Kantrowitz: Google, where you used to work — they call it Alphabet now — made $31.9 billion in search ad sales last quarter alone, up from $24.5 billion in Q1 2020. YouTube ad sales were up 49% to $6 billion in Q1. This growth is going to hit a ceiling, one would imagine?Sridhar Ramaswamy: That will happen when digital advertising is most all of advertising, and we have not quite hit the ceiling yet. We’ve hit ceilings

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Last Week's Notable Insider Buys: Activision, Avis Budget, Energy Transfer And More

Insider buying can be an encouraging signal for potential investors, especially when markets face uncertainty or are near all-time highs. A couple of chief executive officers and an executive board chair were among the insiders buying shares this past week. A master limited partnership, a real estate investment trust and a conglomerate were among companies that say notable insider buying. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets or the markets are near all-time highs. Note that, though earnings reporting season is waning, some insiders are still prohibited from buying or selling shares. Here are some of the most noteworthy insider purchases that were reported in the past week. Chief Executive Officer Robert Duggan of Summit Therapeutics Inc (NASDAQ:SMMT) bought more than 11.36 million shares, and another executive picked up almost 389,100 shares via trust, all at an offering price of $5.24 apiece. These purchases totaled over $61.59 million altogether and lifted Duggan’s stake

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Mark Cuban, other investors, bet $250,000 on GRIND, a company that makes basketball shooting machines

Thomas Fields, founder of GRIND basketball.Source: GRINDThe term has become popular in pro basketball, but Thomas Fields really did “trust the process” as he lured money from investors, including Mark Cuban, to expand his company.Fields is the founder of GRIND, a sports equipment company, and convinced the Dallas Mavericks owner to buy into the business. The 26-year-old Houston native received $250,000 from his appearance on “Shark Tank” for his portable shooting machine.In an interview with CNBC on Wednesday, days after his May 7 appearance on “Shark Tank,” Fields recalled the process of launching GRIND in Mach 2020, days before sports shut down due to Covid-19.”It was literally two weeks before the pandemic hit,” Fields said. “After that, we were operating in a Covid world, so we don’t even know what that non-Covid world looks like.”Pitching the sharksOn the business front, Fields said GRIND has done well while operating during the pandemic. The basketball machine is set up for a single user and automatically returns the ball to the player, allowing for 1,000 shots an hour.Fields said the company generated roughly $217,000 in sales during the first five months, as lockdowns were in place and large gatherings banned. The product currently

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The next step in flying: Planes without pilots

In this articleBAAIR-FRReliable Robots and Xwing are two Bay Area start-ups working on planes that can fly themselves — no pilot required. Rather than building new aircraft, both companies have retrofitted Cessna Grand Caravans. The planes can fly autonomously while a remote operator monitors the flight, taking control if needed.Both companies said they are working with major logistics companies to deliver cargo as a first use case once FAA approval happens.Xwing took CNBC up for a test flight where the pilot didn’t touch the controls once. Watch the video to see how the technology works and learn when self-flying planes could become the norm.

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