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Wednesday, Feb 8, 2023

Silicon Beach Report June 1: Musk Leaves Trump’s Advisory Councils

Musk leaves Trump’s advisory councils, uBeam demonstrates brick-sized wireless charger and acknowledges limitations, and League of Legends team valuation rise to at least $10 million.

Musk Leaves Trump’s Advisory Councils

Tesla and SpaceX founder Elon Musk has quit two of President Trump’s business advisory councils after the president announced he will pull the U.S. out of the Paris climate agreement, reports CNN. “Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world,” Musk said Thursday on Twitter.

UBeam Demonstrates Brick-Sized Wireless Charger, Acknowledges Limitations

Startup uBeam Inc. demonstrated a brick-sized wireless charger receiving enough power to light up the battery icon on a cellphone, reports USA Today. Chief Executive Meredith Perry declined to predict when the technology would be commercially available and acknowledged a number of limitations such as the inability of the device to charge while its sits in a pocket, moves, is positioned at angles greater than 45 degrees to its transmitter, or at distances greater than 10 feet.

League of Legends Team Valuations Rises to at Least $10 Million

The price of a League of Legends team is up tenfold in 18 months as Riot Games Inc. laid out a new framework for its ten-team, North American league and set a $10 million price to buy in, reports Bloomberg. As in traditional sports, the league will have a stable roster of franchises, teams will share revenue from media deals, and there will be a players association.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.

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