A Silicon Valley Startup Blames the Trade War for Going Bust
- Gadget maker Meta’s assets were sold after running out of cash
- Trade concerns aside, the business faced many challenges
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A breakout star of the 2016 TED conference was an Israeli technologist named Meron Gribetz. He wore an augmented-reality headset onstage and wowed the crowd with the gadget’s ability to manipulate holographic images.
Gribetz’s TED Talk especially resonated in China. Two of the country’s most recognizable technology brands, Lenovo Group Ltd. and Tencent Holdings Ltd., wrote checks to Gribetz’s Silicon Valley-based company Meta Co., which would raise more than $80 million, said research firm PitchBook Data Inc. The reliance on Chinese money would ultimately contribute to the startup’s downfall, according to Gribetz.