It's the 25th anniversary of Slate.com, and writer William Saletan reflects on the last quarter century. "Print magazines that scorned internet journalism collapsed or faded (it's hard to believe now, but in the '90s, people thought your article wasn't real if it wasn't on paper), while new websites popped up to challenge us. In the struggle for survival, many outlets withered and died. But Slate adapted and grew..."

But he also shares what worries him now about the online world we're living in: I don't see people learning from, or even recognizing, their mistakes. I see them caricaturing and gloating over the mistakes of others. In the old days, there was a lot of hope that the information age would make us smarter. It didn't. Instead, high-speed communication, combined with algorithms that discern our biases and feed us what we want, helped us sort ourselves into echo chambers. On Twitter, Facebook, Slack, and other platforms, we've formed like-minded battalions that quickly spot the other side's sins and falsehoods but are largely blind to our own.

I don't mean to suggest that tribalism is new or that it's always political. In the late '90s, when Microsoft was on trial for antitrust violations, Slate's top editors — all of whom drew Microsoft paychecks and had Microsoft stock options — were almost comically unanimous in their motivated reasoning. Their politics ranged from progressive to neoliberal to libertarian, but their behavior was essentially identical: They summoned all of their intellectual power, which was prodigious, and used it to poke holes in the antitrust case — in effect, to defend Microsoft.
Saletan argues that while the internet makes it easy to venture out from a "bubble" of viewpoints, too many idealists "insulated themselves from engagement with fundamentally opposing views...."

"So that's what I've learned in my time here: seek out other perspectives, study your failures, and try to become wiser every day."

The Washington Post reports: Google announced it will begin the process of getting rid of long-standing ad trackers on its Android operating system, upending how advertising and data-collection work on phones and tablets used by more than 2.5 billion people around the world.

Right now, Google assigns special IDs to each Android device, allowing advertisers to build profiles of what people do on their phones and serve them highly targeted ads. Google will begin testing alternatives to those IDs this year and eventually remove them completely, the company said in a Wednesday blog post. Google said the changes will improve privacy for Android users, limiting the massive amounts of data that app developers collect from people using the platform.

But the move also could give Google even more power over digital advertising, and is likely to deepen concerns regulators have already expressed about the company's competitive practices... It made $61 billion in advertising revenue in the fourth quarter of 2021 alone....

The announcement comes over a year after Apple began blocking trackers on its own operating system, which runs on its iPhones, giving customers more tools to limit the data they share with app developers.... Google contrasted its plan with Apple's, saying it would make the changes over the next two years, working closely with app developers and the advertising industry to craft new ways of targeting ads and measuring their effectiveness before making any drastic changes.

"We realize that other platforms have taken a different approach to ads privacy, bluntly restricting existing technologies used by developers and advertisers," said Anthony Chavez, vice president of product management for Android security and privacy, in the blog post. "We believe that without first providing a privacy-preserving alternative path such approaches can be ineffective and lead to worse outcomes for user privacy and developer businesses."
The Post also includes this quote from the chief security office of Mozilla (which began restricting ad tracking in Firefox several years ago). "Google's two year plan is too long. People deserve better privacy now."

Since being rolled out to users in the U.S. and Canada, Meta's social VR platform for the Quest headset, Horizon Worlds, has grown its monthly user base by a factor of 10x to 300,000 people. "Meta spokesperson Joe Osborne confirmed the stat and said it included users of Horizon Worlds and Horizon Venues, a separate app for attending live events in VR that uses the same avatars and basic mechanics," reports The Verge. "The number doesn't include Horizon Workrooms, a VR conferencing experience that relies on an invite system." From the report: Before its December rollout, Horizon Worlds was in a private beta for creators to test its world-building tools. Similarly to how the gaming platform Roblox or Microsoft's Minecraft works, Horizon Worlds lets people build custom environments to hang out and play games in as legless avatars. Meta announced this week that 10,000 separate worlds have been built in Horizon Worlds to date, and its private Facebook group for creators now numbers over 20,000 members.

Meta still hasn't disclosed how many Quest headsets it has sold to date, which makes it hard to gauge Horizon's success relative to the underlying hardware platform it runs on. But several third-party estimates peg sales at over 10 million for the Quest. Zuckerberg recently said that Meta would release a version of Horizon for mobile phones later this year to "bring early metaverse experiences to more surfaces beyond VR."

"So while the deepest and most immersive experiences are going to be in virtual reality, you're also going to be able to access the worlds from your Facebook or Instagram apps as well, and probably more over time," the CEO said on Meta's last earnings call. Bringing Horizon to mobile would position it as even more of a competitor to Rec Room, a well-funded, social gaming app with 37 million monthly users across gaming consoles, mobile phones, and VR.

Microsoft last month received a US patent covering modifications to a data-encoding technique called rANS, one of several variants in the Asymmetric Numeral System (ANS) family that support data compression schemes used by leading technology companies and open source projects. The Register reports: The creator of ANS, Jaroslaw Duda, assistant professor at Institute of Computer Science at Jagiellonian University in Poland, has been trying for years to keep ANS patent-free and available for public use. Back in 2018, Duda's lobbying helped convince Google to abandon its ANS-related patent claim in the US and Europe. And he raised the alarm last year when he learned Microsoft had applied for an rANS (range asymmetric number system) patent.

Now that Microsoft's patent application has been granted, he fears the utility of ANS will be diminished, as software developers try to steer clear of a potential infringement claim. "I don't know what to do with it -- [Microsoft's patent] looks like just the description of the standard algorithm," he told The Register in an email. The algorithm is used in JPEG XL and CRAM, as well as open source projects run by Facebook (Meta), Nvidia, and others. "This rANS variant is [for example] used in JPEG XL, which is practically finished (frozen bitstream) and [is] gaining support," Duda told The Register last year. "It provides ~3x better compression than JPEG at similar computational cost, compatibility with JPEG, progressive decoding, missing features like HDR, alpha, lossless, animations. "There is a large team, mostly from Google, behind it. After nearly 30 years, it should finally replace the 1992 JPEG for photos and images, starting with Chrome, Android."

An anonymous reader quotes a report from TechCrunch: Meta, the parent company of Facebook, has confirmed to TechCrunch that Jeren A. Miles, who had been a manager of global community development, is no longer employed by the company after a video went viral on YouTube, which was then reposted on Reddit and other sites, featuring him in a sting operation conducted by amateurs with the intent of catching paedophiles.

The two-hour video, posted by an amateur group called PCI Predator Catchers Indianapolis on its YouTube page, does not depict Miles caught in any sex act, nor admitting to any specific sex act, nor admitting to intending to carry out any sex act. And it is not clear what the legal ramifications of this will be, if any. But it does feature two people questioning Miles, who in the course of the interrogation admits to having graphic and inappropriate communications with a 13-year-old boy. It's a damning enough exchange that Miles has subsequently deleted his social profiles on sites like Facebook and Twitter, and -- whether he was fired or resigned voluntarily -- Miles has left his role at Facebook over the matter. "The seriousness of these allegations cannot be overstated. The individual is no longer employed with the company. We are actively investigating this situation and cannot provide further comment at this time," said a statement from a Meta spokesperson.

Mark Zuckerberg showed off a cartoon version of himself in a virtual world at an event in October as he outlined the company's new focus for the next decade. Zuckerberg demonstrated a bunch of things his virtual avatar could do. But one thing that is still far beyond the capabilities of Meta's current virtual reality is rendering and handling legs or feet. CNN: Meta has been considering for years how to make avatars more realistic. In an Instagram AMA (Ask Me Anything) session earlier last week, Andrew Bosworth, Meta's VP of Reality Labs and incoming CTO, acknowledged the difficulty of the task while saying the company is considering how to solve it. "Tracking your own legs accurately is super hard and basically not workable just from a physics standpoint with existing headsets," Bosworth said.

Companies can track a person's upper body reasonably well with a headset and controllers, but actual leg tracking is practically non-existent in virtual reality right now -- at least when it comes to the kind of VR you're likely to use in your living room. Some apps, such as VRChat, do let people have full-body avatars, but they tend to use software to approximate lower-body motions; it can be silly-looking at best and disconcerting (or even sickening) at worst. Despite all the progress made in perfecting the technology behind VR headsets in recent years, it's still tricky to perfectly track your legs in real life and recreate the same movements in VR without setting up an array of sensors on or around your body. Still, several VR experts told CNN Business they think it's important to bring legs into virtual spaces.

If you live in New York and drive a loud car, you could receive a notice from the city's Department of Environmental Protection telling you your car is too loud. Not because a police officer caught your noisy car, but because a computer did. Road & Track reports: A photo of an official order from the New York City DEP was published to Facebook by a page called Lowered Congress on Monday, directed at a BMW M3 that may have been a bit too loud. The notice reads as follows: "I am writing to you because your vehicle has been identified as having a muffler that is not in compliance with Section 386 of the Vehicle and Traffic Law, which prohibits excessive noise from motor vehicles. Your vehicle was recorded by a camera that takes a pictures of the vehicle and the license plate. In addition, a sound meter records the decibel level as the vehicle approaches and passes the camera."

The order goes on to tell the owner to bring their car to a location specified by the DEP -- a sewage treatment plant, to be precise -- for inspection. Show up, and you'll have the opportunity to get the car fixed to avoid a fine -- much like California's "fix-it" ticket system. The document also informs the owner that if they fail to show up, they could face a maximum fine of $875, plus additional fines for continuing to ignore the summons.

A New York City DEP spokesman confirmed to Road & Track via email the system is part of a small pilot program that's been running since September 2021. From the description above, it sounds like it works much like a speed camera that automatically records a violation and sends it to you in the mail by reading your license plate. Instead of a speed gun, this new system uses a strategically placed sound meter to record decibel levels on the road, matching it to a license plate using a camera. [...] The program will be reevaluated on June 30, according to the DEP. From there it'll likely either be expanded or taken out of commission.

Google said on Wednesday that it was working on privacy measures meant to limit the sharing of data on smartphones running its Android software. But the company promised those changes would not be as disruptive as a similar move by Apple last year. From a report: Apple's changes to its iOS software on iPhones asked users for permission before allowing advertisers to track them. Apple's permission controls -- and, ultimately, the decision by users to block tracking -- have had a profound impact on internet companies that built businesses on so-called targeted advertising. Google did not provide an exact timeline for its changes, but said it would support existing technologies for at least two more years.

This month, Meta, the company founded as Facebook, said Apple's privacy changes would cost it $10 billion this year in lost advertising revenue. The revelation weighed on Meta's stock price and led to concerns about other companies reliant on digital advertising. Anthony Chavez, a vice president at Google's Android division, said in an interview before the announcement that it was too early to gauge the potential impact from Google's changes, which are meant to limit the sharing of data across apps and with third parties. But he emphasized that the company's goal was to find a more private option for users while also allowing developers to continue to make advertising revenue.

In an all-hands meeting at Meta "explaining the company's updated values," Mark Zuckerberg says employees are not supposed to "nice ourselves to death," adding that they are now to be known as "Metamates."

According to the Daily Beast, citing long-time executive Andrew Bosworth, "the term was coined by the cognitive scientist Douglas Hofstadter and is a play on the naval-inspired slogan used at Instagram: 'ship, shipmates, self.'"

Ukraine's Ministry of Defense website suffered from what appeared to be a distributed denial of service attack Tuesday, according to the government's Facebook account. CNET reports: The military's website remained unavailable as of 12 p.m. PT Tuesday, with the Ukrainian military's Facebook account saying work is currently underway to restore regular functioning to the online portal. The nation's largest commercial bank, PrivatBank, has also been subjected to a "massive DDoS attack" for the past few hours, according to the Ukraine Center for Strategic Communications. There's no threat to customer funds stored at the bank, it said, though the attack is preventing customers from accessing the Privat24 application and viewing their balances. Online banking with Oschadbank is also down, the Center for Strategic Communications said, as reported earlier by Vice. Nobody has yet to be blamed for the attack, but as CNET notes, "it comes after Russia is believed to have mounted multiple cyberattacks on Ukraine as part of efforts that security experts say are designed to destabilize the country's government and economy."

UPDATE (2/16/2022): America's Undersecretary of State said Wednesday that "While we're still investigating and doing forensics along with the Ukrainians, I think what's most important is that these cyberattacks were not very successful," reports CNN, which adds that the official "credited Ukrainian officials for responding quickly and helping the websites recover."

The Texas attorney general filed a suit against Facebook parent Meta Platforms on Monday, charging that the social-media giant's longstanding and now discontinued use of facial-recognition technology violated that state's privacy protections for personal biometric data. From a report: The lawsuit, filed in state district court in Marshall by Texas Attorney General Ken Paxton, seeks civil penalties in the hundreds of billions of dollars, according to a person familiar with the matter. In a statement, Mr. Paxton said the company's capture of facial geometry in photographs that users uploaded from 2010 to late last year resulted in "tens of millions of violations" of Texas law.

"Facebook has been secretly harvesting Texans' most personal information -- photos and videos -- for its own corporate profit," Mr. Paxton said. "Texas law has prohibited such harvesting without informed consent for over 20 years. While ordinary Texans have been using Facebook to innocently share photos of loved ones with friends and family, we now know that Facebook has been brazenly ignoring Texas law for the last decade."

"We are all cranks now...." argues a new article on Gawker (relaunched last July). That is, we're all just like yester-year's "obsessive writers of letters to the editor, the meticulous hoarders of correspondence, the avid collectors of fine and rare grudges...."

"I have not, since my father brought home a Compaq Presario in 1995 and plugged it into our phone line, encountered one pocket of space in all of the World Wide Web that does not, to some degree or another, crankify all who inhabit it...." [N]owadays, saying something deeply unwell about an article you don't like to thousands of people is as trivial as ordering a coffee. And if the internet in general has lowered these barriers, social media has gone a step further. People who never set out to be cranks in the first place are actively incentivized to do so. This isn't just because whenever you post you get a thrilling little tally of all the people who agree with you, it's because of how these platforms are designed to maximize engagement. The ideal poster for social media companies is one who posts often, who posts stridently, and who responds to as much stuff as possible.

So, to be on Twitter or Facebook is to sit in a room while someone holds up random pieces of stimulus and demands your appraisal of each. What do we reckon of this? Okay, how about this? And this? What's your view here? Were you to design a machine to turn otherwise normal, healthy people into cranks — a kind of crankification engine, if you like — you would probably arrive at something like these platforms.

Of course, Twitter and Facebook don't crankify their users out of malice, they do it to turn a profit, which may actually be worse. When the cranks of yore would write a tirade spanning several faxes to their local member of parliament about a hedge that was bothering them, they did this for no-one but themselves. This is not the case for the Neo-crank. When we use our finite capacity for wonder to publicly opine about fictional teens using drugs on a television show, or people reading in bars, or one American girl leaving her fake-sounding college to attend a different fake-sounding college, a company is making bank off it. To put it another way, the Silicon Valley robber-barons are getting rich off the uncompensated labor of yeoman cranks, who till the posting fields in the sweltering heat of the discourse until their brains give out.... [T]his kind of relentless churn of opinion, this unceasing urge to prosecute our case on things we hadn't even heard about an hour before, this gamification of being right — which is all the life of a crank really boils down to — is a deeply unhealthy way of interacting with the world around us.

For one thing, it robs us of our genuine curiosity. The paradox of the crank is that while they hold opinions on everything, they aren't particularly curious about anything.

To test Meta's Horizon World (their new social VR platform), BuzzFeed News created an area that was "filled with content banned from Facebook and Instagram."

"Content moderators said the world was fine — until we told Meta's PR team about it." Meta has kept secret much of how it plans to enforce its safety protocols in VR, declining to answer detailed questions about them.... Instead, Meta spokesperson Johanna Peace provided BuzzFeed News a short statement: "We're focused on giving people more control over their VR experiences through safety tools like the ability to report and block others. We're also providing developers with further tools to moderate the experiences they create, and we're still exploring the best use of AI for moderation in VR. We remain guided by our Responsible Innovation Principles to ensure privacy, security and safety are built into these experiences from the start...." We went back and asked again for Meta to consider our questions. The company declined.

So, to find out what we could on our own, we strapped on some Oculus headsets, opened Horizon Worlds, and ran a rudimentary experiment. In a matter of hours, we built a private Horizon World festooned with massive misinformation slogans.... We called the world "The Qniverse," and we gave it a soundtrack: an endless loop of Infowars founder Alex Jones calling Joe Biden a pedophile and claiming the election was rigged by reptilian overlords. We filled the skies with words and phrases that Meta has explicitly promised to remove from Facebook and Instagram... Time and time again, Meta has removed and taken action on pages and groups, even private ones, that use these phrases....

We kept the world "unpublished" — i.e., invitation only — to prevent unsuspecting users from happening upon it, and to mimic the way some Meta users seeking to share misinformation might actually do so: in private, invitation-only spaces. The purpose of our test was to assess whether the content moderation systems that operate on Facebook and Instagram also operate on Horizon.

At least in our case, it appears they did not....

Using Horizon's user reporting function, a BuzzFeed News employee with access to the world used his own name and a linked Facebook account to flag the world to Meta. After more than 48 hours and no action, the employee reported the world again, followed quickly by another report from a different BuzzFeed News user with access to the world who also used her real name, which was linked to her Facebook and Oculus profiles. Roughly four hours after the third report was filed, the employee who submitted it received a response from Meta: "Our trained safety specialist reviewed your report and determined that the content in the Qniverse doesn't violate our Content in VR Policy." Six hours after that, the original reporter received the same message....

We went to Meta's comms department, a channel not available to ordinary people. We asked about its content moderators' decisions: How could a world that shares misinformation that Meta has removed from its other platforms, under the same Community Guidelines, not violate Horizon's policies?

The following afternoon, the experimental world disappeared. The company had reversed its original ruling....
The article pinpoints the dilemma Meta is facing at this virtual crossroads. If users congregate to share harmful misinformation, "Without recording everything users say in VR, how can Meta know whether such a situation is happening? But recording everything users say and do, even in private groups, raises stark privacy questions." Yet the article also remembers what Mark Zuckerberg promised the day he'd announced the company's rebranding to Meta.

"Facebook said it would be different this time."

"Sports fans who tuned in to watch the Beijing Winter Olympics on YouTube are instead being served propaganda videos," reports Wired: An analysis of YouTube search results by WIRED found that people who typed "Beijing," "Beijing 2022," "Olympics," or "Olympics 2022" were shown pro-China and anti-China propaganda videos in the top results. Five of the most prominent propaganda videos, which often appear above actual Olympics highlights, have amassed almost 900,000 views.

Two anti-China videos showing up in search results were published by a group called The BL (The Beauty of Life), which Facebook previously linked to the Falun Gong, a Chinese spiritual movement that was banned by the Chinese Communist Party in 1999 and has protested against the regime ever since. They jostled for views with pro-China videos posted by Western YouTubers whose work has previously been promoted by China's Ministry of Foreign Affairs. Similar search results were visible in the US, Canada, and the UK.

WIRED also found signs that viewing numbers for pro-China videos are being artificially boosted through the use of fake news websites....

YouTube did not respond to a request to comment on why content used as propaganda to promote or deride China was being pushed to the top of Olympics search results, nor did the company say if those behind the videos had violated its terms of service by using fake websites to inflate their views.
The problem was first spotted by John Scott-Railton, a researcher at the University of Toronto's research laboratory, Citizen Lab. He tells Wired that after watching skating and curling videos, YouTube's autoplay kicked in and "I found myself on a slippery slide from skating and curling into increasingly targeted propaganda."

While the videos he saw are no longer being autoplayed, Wired still argues that "the way similar videos still dominate YouTube search results suggests the platform is at risk of letting such campaigns hijack the Olympics."

Mozilla engineer Martin Thomson reveals they've been collaborating with Meta (formerly Facebook) on new technology that can measure "conversions" from advertising while still preserving privacy.

The proposed new technology is called Interoperable Private Attribution, or IPA. IPA has two key privacy-preserving features. First, it uses Multi-Party Computation (MPC) to avoid allowing any single entity — websites, browser makers, or advertisers — to learn about user behavior. Mozilla has some experience with MPC systems as we've deployed Prio for privacy-preserving telemetry. Second, it is an aggregated system, which means that it produces results that cannot be linked to individual users. Together these features mean that IPA cannot be used to track or profile users.

IPA is designed to provide a lot of flexibility for advertising businesses in terms of how they use the system. Cross-device and cross-browser attribution options in IPA enable new and more robust attribution capabilities, while maintaining privacy. The IPA proposal aims to ensure that all sites benefit from these features with the match key concept, which allows smaller players to access the greater reach of entities to cross-device attribution.
"Advertising provides critical support for the Web," the blog post argues — and they've now proposed IPA to the World Wide Web Consortium's dedicated Private Advertising Technology Community Group, while calling their idea "still a work in progress."

An anonymous reader shares a report: 2021 was a bad PR year for Big Tech. Lawmakers, advocates, and scholars filled pages of books and held hours of hearing exalting what they viewed as an industry being strangled by a handful of players using anti-competitive practices to solidify their position as kings. Ironically, those exact same tactics were vehemently opposed by the Big Tech companies themselves less than a decade ago. Like an aging punk throwing out their raggedy jean jacket for a blazer, Big Tech sold out. That's according to a new report by the Tech Oversight Project shared exclusively with Gizmodo. The report -- titled Whiplash: Inside Big Tech's Open Internet Flip-Flop -- lays out a laundry list of times where Big Tech companies have seemingly expressed support for many of the same policy goals they're currently fighting to quash. It also comes as Congress muses over several key pieces of antitrust legislation taking aim at Big Tech's alleged monopolistic business practices.

The report spotlights Google, Amazon, and Facebook's fierce defense of net neutrality in 2014 where the companies repeatedly cited an "open internet" as a critical component to innovation and economic growth. Tech's biggest players, as a New York Times article from the time states, "put their reputations and financial clout behind the challenge." These high-minded priorities for an open internet were shouted from the rooftops by Big Tech's most prominent voices at the time. "The internet has created this remarkable set of free markets, open competition, and competitive growth, and we need to keep it free and open," Former Google CEO Eric Schmidt said in a 2007 address to the Progress and Freedom Foundation Aspen Summit.

A new bipartisan bill, introduced on Wednesday, could mark Congress' first step toward addressing algorithmic amplification of harmful content. The Social Media NUDGE Act, authored by Sens. Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY), would direct the National Science Foundation and the National Academy of Sciences, Engineering and Medicine to study "content neutral" ways to add friction to content-sharing online. From a report: The bill instructs researchers to identify a number of ways to slow down the spread of harmful content and misinformation, whether through asking users to read an article before sharing it (as Twitter has done) or other measures. The Federal Trade Commission would then codify the recommendations and mandate that social media platforms like Facebook and Twitter put them into practice. "For too long, tech companies have said 'Trust us, we've got this,'" Klobuchar said in a statement on Thursday. "But we know that social media platforms have repeatedly put profits over people, with algorithms pushing dangerous content that hooks users and spreads misinformation."

According to a recent study published by mobile marketing company URL Genius, YouTube and TikTok track users' personal data more than any other social media apps. However, while YouTube mostly collects your personal data for its own purposes to serve you more relevant ads, TikTok mostly allows third-party trackers to collect your data -- "and from there, it's hard to say what happens with it," reports CNBC. From the report: With third-party trackers, it's essentially impossible to know who's tracking your data or what information they're collecting, from which posts you interact with -- and how long you spend on each one -- to your physical location and any other personal information you share with the app. As the study noted, third-party trackers can track your activity on other sites even after you leave the app.

To conduct the study, URL Genius used the Record App Activity feature from Apple's iOS to count how many different domains track a user's activity across 10 different social media apps -- YouTube, TikTok, Twitter, Telegram, LinkedIn, Instagram, Facebook, Snapchat, Messenger and Whatsapp -- over the course of one visit, before you even log into your account. YouTube and TikTok topped the other apps with 14 network contacts apiece, significantly higher than the study's average number of six network contacts per app. Those numbers are all probably higher for users who are logged into accounts on those apps, the study noted.

Ten of YouTube's trackers were first-party network contacts, meaning the platform was tracking user activity for its own purposes. Four of the contacts were from third-party domains, meaning the social platform was allowing a handful of mystery outside parties to collect information and track user activity. For TikTok, the results were even more mysterious: 13 of the 14 network contacts on the popular social media app were from third parties. The third-party tracking still happened even when users didn't opt into allowing tracking in each app's settings, according to the study. "Consumers are currently unable to see what data is shared with third-party networks, or how their data will be used," the report's authors wrote.

Nvidia is now a larger company than social media giant Meta. PC Gamer reports: In a meteoric turn of events, Nvidia has surged to become the 7th largest company in the US, despite being nowhere close only a few years ago, and helped along by Meta's recent share price collapse. Meta's fall from stock market grace this past week saw 30% of its share value wiped out, leaving it with a total value in shares, or market cap, of just $615.70B (at time of writing). That's clearly still a lot of money, but it's notably less money than it was worth at the beginning of last week -- around $260B less.

Compare that to Nvidia's market cap of $657.06B, and the green team is out on top. Perhaps not for long, but we'll see. That's still a little shy of Berkshire Hathaway in 6th place at over $720B, but it's markedly higher up than Nvidia was only a few years ago, when its share value was a small fraction of what it is today. [...] Nvidia officially terminated its attempt to buy Arm, the UK-based chip designer, for $40B, and that did see some value wiped off its share price in the following days. Though clearly that dark cloud hasn't stuck around Nvidia's Santa Clara HQ, as it's now back up to around $260. That's over 40% up on its lowest point this year, and just under 22% down on its all-time high of $334.

Meta has frozen development of its Novi digital wallet project, Israeli media Globes reported this week, citing sources familiar with the matter. From the report: The project was originally planned for trading in Facebook's cryptocurrency -- an activity that has been halted. Following this latest step, Facebook will disband several teams in the US and at the company's development center in Israel, new tasks are being sought for the risk management technology division, which was set up to provide services for the digital wallet. This latest step comes as Meta has begun 2022 by cleaning its desk. While suspending the Novi digital wallet project, Meta is examining the possibility of transferring more financial services to Facebook Pay -- another wallet infrastructure that the company has already opened -- thus leaving Novi as an NFT trading platform for creating digital art or animated games accessories. Due to the fact that Novi activities are at the expense of the Facebook Pay infrastructure, which is already used on platforms like Facebook Stores and Facebook Marketplace, the company is grappling with the question of if there is any point in continuing Novi's development. Despite the freezing of most of Novi's financial development activities, the project's pilot in the US and Guatemala, which began last October, will continue.