RealPage, which makes property management software, was sued Friday by the U.S. Justice Department and eight attorneys general for allegedly helping apartment and building managers around the country collude to drive up unit prices.
The Richardson, Texas-based outfit is accused of contracting with rival landlords to absorb info about their rates and lease terms to train RealPage’s recommendation algorithms, and in the process discouraging competition among property owners who defer to the company’s recommendations on pricing and other terms.
It’s the DOJ’s first big algorithmic collusion case and comes as rent in the U.S. skyrockets, climbing 33% since March 2020, according to Zillow.
RealPage, which was acquired by private equity firm Thoma Bravo in 2021 for $10.2 billion, commands 80% of the market for commercial revenue management software for conventional multi-family housing rentals in the U.S., according to the lawsuit. The company denies any wrongdoing.
Two former OpenAI researchers who resigned this year over safety concerns say they are disappointed but not surprised by OpenAI’s decision to oppose California’s bill to prevent AI disasters, SB…
Neil Mehta, the VC behind the acquisition of a string of properties on San Francisco’s tony Fillmore Street, made waves earlier this week for reportedly throwing long-established local restaurants to…
RealPage, which makes property management software, was sued Friday by the U.S. Justice Department and eight attorneys general for allegedly helping apartment and building managers around the country collude to…
Andrew Ng is stepping down from his role as CEO at Landing AI, the computer vision platform he founded in 2017. Dan Maloney, formerly the COO, will take the reins…
AI models are being applied to every dataset under the sun, but are inconsistent in their outcomes. This is as true in the medical world as anywhere else, but a…
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EV startup Canoo’s chief technology officer Sohel Merchant has left the company, two people familiar with his departure have told TechCrunch. Merchant was one of the members of Canoo’s founding…
A company spokesperson for the oil drilling and fracking giant declined to name the executive overseeing cybersecurity, if any.
The move is an effort to squeeze additional revenue from second-hand products, over concerns that cheaper, slightly used bikes, treadmills and rowers could cannibalize used sales.
Time is running out! These are the last hours to save up to $600 on TechCrunch Disrupt 2024 tickets — offer ends tonight at 11:59 p.m. PT. Join 10,000+ startup…
Meta and Spotify are once again teaming up — this time, on the matter of open source (or to be precise, open-weight) AI which the companies claim are being hampered…
Tingit, a startup out of Lithuania, wants to help people restore their used clothing to their former glory with its newly launched repairs marketplace.
Redis, the company behind the popular in-memory data store, which is often used as a cache, vector database or streaming engine, today announced the launch of Redis 8. With this…
360 One Asset, an investor in National Stock Exchange (NSE), has increased its valuation for India’s top stock exchange to $29.9 billion.
Tesla is hiring individuals standing between 5’7 and 5’11 to carry up to 30 pounds for seven hours a day to train its Optimus robot.
At least 200 workers at DeepMind, Google’s AI R&D division, are displeased with Google’s reported defense contracts — and according to Time, they circulated a letter internally back in May…
NASA officials will announce their final decision on Saturday as to whether two NASA astronauts — Butch Wilmore and Sunita Williams — will return to Earth on Boeing’s Starliner spacecraft…
America’s space industry seems mature, but the supply chain that provides all the parts and components for rockets, satellites, and other spacecraft is considerably less so. Gimbal Space is aiming to…
Soon, parents in range of Waymo robotaxis might not have to worry about picking up their kids from after-school activities — or any time, really. The San Francisco Standard reports…
Tens of millions of customer dollars remain unaccounted for at his previous startup, fintech Synapse. But that’s not deterring Sankaet Pathak from forging full steam ahead with his new robotics…
Cruise, General Motors’ self-driving subsidiary, said it has signed a multi-year partnership with ride-hailing giant Uber to bring its robotaxis to the ride-hailing platform in 2025. Cruise didn’t say when…
Until today, we’ve seen exactly 40 seconds of Boston Dynamics’ new electric Atlas in action. The Hyundai-owned robotics stalwart is very much still in the early stages of commercializing the…
When you really probe venture capitalists about investing in AI startups, they’ll tell you that businesses are experimenting wildly but are very slow to add AI solutions into their ongoing…
Citing a crowded market and profit concerns, Mineral ceased operation and pivoted to technology licensing.
A nod to the Myspace era, Instagram just launched a new feature that allows you to add music to your profile. The feature is in collaboration with singer Sabrina Carpenter,…
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Monterey Car…
