This smartphone company is shutting down after CEO spent its money on racing cars

OSOM Products, the smartphone company that rose from the ashes of Andy Rubin’s Essential, is reportedly shutting down this week following allegations that its CEO misused company funds.
According to reports from Android Authority, OSOM’s chief executive, Jason Keats, announced the company’s imminent closure internally yesterday. Most employees are expected to be laid off by Friday, with only a skeleton crew remaining to push out a final software update for the Solana Saga smartphone.