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United States

The Next Front in the US-China Battle Over Chips (nytimes.com) 87

A U.S.-born chip technology called RISC-V has become critical to China's ambitions. Washington is debating whether and how to limit the technology. From a report: It evolved from a university computer lab in California to a foundation for myriad chips that handle computing chores. RISC-V essentially provides a kind of common language for designing processors that are found in devices like smartphones, disk drives, Wi-Fi routers and tablets. RISC-V has ignited a new debate in Washington in recent months about how far the United States can or should go as it steadily expands restrictions on exporting technology to China that could help advance its military. That's because RISC-V, which can be downloaded from the internet for free, has become a central tool for Chinese companies and government institutions hoping to match U.S. prowess in designing semiconductors.

Last month, the House Select Committee on the Chinese Communist Party -- in an effort spearheaded by Representative Mike Gallagher, Republican of Wisconsin -- recommended that an interagency government committee study potential risks of RISC-V. Congressional aides have met with members of the Biden administration about the technology, and lawmakers and their aides have discussed extending restrictions to stop U.S. citizens from aiding China on RISC-V, according to congressional staff members. The Chinese Communist Party is "already attempting to use RISC-V's design architecture to undermine our export controls," Representative Raja Krishnamoorthi of Illinois, the ranking Democrat on the House select committee, said in a statement. He added that RISC-V's participants should be focused on advancing technology and "not the geopolitical interests of the Chinese Communist Party."

Arm Holdings, a British company that sells competing chip technology, has also lobbied officials to consider restrictions on RISC-V, three people with knowledge of the situation said. Biden administration officials have concerns about China's use of RISC-V but are wary about potential complications with trying to regulate the technology, according to a person familiar with the discussions. The debate over RISC-V is complicated because the technology was patterned after open-source software, the free programs like Linux that allow any developer to view and modify the original code used to make them. Such programs have prompted multiple competitors to innovate and reduce the market power of any single vendor.

Earth

Earth Shattered Global Heat Record In 2023 (apnews.com) 227

The European climate agency Copernicus said Earth shattered global annual heat records in 2023, flirting with the world's agreed-upon warming threshold of 1.5 degrees Celsius. "On average, global temperatures in 2023 were 1.48 degrees Celsius higher than pre-industrial times," reports the Associated Press. "If annual averages reach above 1.5 degrees Celsius, the effects of global warming could become irreversible, climate scientists say." From the report: The record heat made life miserable and sometimes deadly in Europe, North America, China and many other places last year. But scientists say a warming climate is also to blame for more extreme weather events, like the lengthy drought that devastated the Horn of Africa, the torrential downpours that wiped out dams and killed thousands in Libya and the Canada wildfires that fouled the air from North America to Europe. In a separate Tuesday press event, international climate scientists who calculate global warming's role in extreme weather, the group's leader, Imperial College climate scientist Friederike Otto said "we definitely see in our analysis the strong impact of it being the hottest year."

The World Weather Attribution team only looks at events that affect at least 1 million people or kill more than 100 people. But Otto said her team was overwhelmed with more than 160 of those in 2023, and could only conduct 14 studies, many of them on killer heat waves. "Basically every heat wave that is occurring today has been made more likely and is hotter because of human-induced climate change," she said. [....] Antarctic sea ice hit record low levels in 2023 and broke eight monthly records for low sea ice, Copernicus reported.

Copernicus calculated that the global average temperature for 2023 was about one-sixth of a degree Celsius (0.3 degrees Fahrenheit) warmer than the old record set in 2016. While that seems a small amount in global record-keeping, it's an exceptionally large margin for the new record, [Copernicus Deputy Director Samantha Burgess] said. Earth's average temperature for 2023 was 14.98 degrees Celsius (58.96 degrees Fahrenheit), Copernicus calculated.

Bitcoin

SEC Claims Account Was 'Compromised' After Announcing False Bitcoin ETF Approval (cnbc.com) 48

With the approval of new rule change applications, the SEC is now allowing bitcoin ETFs to be traded in the United States.



UPDATE: The SEC said that the announcement about bitcoin ETFs on social media was incorrect, and that its X account was compromised. "The SEC's @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff," an SEC spokesperson told CNBC.

"The SEC has not approved the listing and trading of spot bitcoin exchange-traded products," said SEC Chair Gary Gensler in a post on X. From the original CNBC article: The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which holds about $29 billion of the cryptocurrency, into an ETF, as well as the launch of competing funds from mainstream issuers like BlackRock's iShares. The approval could prove to be a landmark event in the adoption of cryptocurrency by mainstream finance, as the ETF structure gives institutions and financial advisors a familiar and regulated way to buy exposure to bitcoin.

The SEC has for years opposed a so-called spot bitcoin fund, with several firms filing and then withdrawing applications for ETFs in the past. SEC Chair Gary Gensler has been an outspoken critic of crypto during his tenure. However, the regulator appeared to change course on the ETF question in 2023, possibly due in part to an August loss to Grayscale in court which criticized the SEC for blocking bitcoin ETFs while allowing funds that track bitcoin futures.

United States

FTC Bans X-Mode From Selling Phone Location Data (techcrunch.com) 10

The U.S. Federal Trade Commission has banned the data broker X-Mode Social from sharing or selling users' sensitive location data, the federal regulator said Tuesday. From a report: The first of its kind settlement prohibits X-Mode, now known as Outlogic, from sharing and selling users' sensitive information to others. The settlement will also require the data broker to delete or destroy all the location data it previously collected, along with any products produced from this data, unless the company obtains consumer consent or ensures the data has been de-identified. X-Mode buys and sells access to the location data collected from ordinary phone apps. While just one of many organizations in the multibillion-dollar data broker industry, X-Mode faced scrutiny for selling access to the commercial location data of Americans' past movements to the U.S. government and military contractors. Soon after, Apple and Google told developers to remove X-Mode from their apps or face a ban from the app stores.
The Almighty Buck

Global Economy Set For Its Worst Half Decade of Growth in 30 Years, World Bank Says (cnbc.com) 154

The global economy is on course to record its worst half decade of growth in 30 years, according to the World Bank. From a report: Global growth is forecast to slow for the third year in a row in 2024, dipping to 2.4% from 2.6% in 2023, the organization said in its latest "Global Economic Prospects" report released Tuesday. Growth is then expected to rise marginally to 2.7% in 2025, though acceleration over the five-year period will remain almost three-quarters of a percentage point below the average rate of the 2010s.

And despite the global economy proving resilient in the face of recessionary risks in 2023, increased geopolitical tensions will present fresh near-term challenges, the organization said, leaving most economies set to grow more slowly in 2024 and 2025 than they did in the previous decade. "You have a war in Eastern Europe, the Russian invasion of Ukraine. You have a serious conflict in the Middle East. Escalation of these conflicts could have significant implications for energy prices that could have impacts on inflation as well as on economic growth," Ayhan Kose, the World Bank's deputy chief economist and director of the Prospects Group, told CNBC's Silvia Amaro. The bank warned that without a "major course correction," the 2020s will go down as "a decade of wasted opportunity."

AI

OpenAI Claims NYT Tricked ChatGPT Into Copying Its Articles 166

Emilia David reports via The Verge: OpenAI has publicly responded to a copyright lawsuit by The New York Times, calling the case "without merit" and saying it still hoped for a partnership with the media outlet. In a blog post, OpenAI said the Times "is not telling the full story." It took particular issue with claims that its ChatGPT AI tool reproduced Times stories verbatim, arguing that the Times had manipulated prompts to include regurgitated excerpts of articles. "Even when using such prompts, our models don't typically behave the way The New York Times insinuates, which suggests they either instructed the model to regurgitate or cherry-picked their examples from many attempts," OpenAI said.

OpenAI claims it's attempted to reduce regurgitation from its large language models and that the Times refused to share examples of this reproduction before filing the lawsuit. It said the verbatim examples "appear to be from year-old articles that have proliferated on multiple third-party websites." The company did admit that it took down a ChatGPT feature, called Browse, that unintentionally reproduced content. However, the company maintained its long-standing position that in order for AI models to learn and solve new problems, they need access to "the enormous aggregate of human knowledge." It reiterated that while it respects the legal right to own copyrighted works -- and has offered opt-outs to training data inclusion -- it believes training AI models with data from the internet falls under fair use rules that allow for repurposing copyrighted works. The company announced website owners could start blocking its web crawlers from accessing their data on August 2023, nearly a year after it launched ChatGPT.
OpenAI stills hopes to form a "constructive partnership with The New York Times and respect its long history," the company said.

Last month, OpenAI struck an unprecedented deal with Politico parent company Axel Springer, allowing ChatGPT to summarize news stories from Politico and Business Insider.
AI

'Only 700 New IT Jobs' Were Created In US Last Year (theregister.com) 95

According to an analysis of U.S. Bureau of Labor Statistics data, the U.S. added a mere 700 IT jobs compared to 267,000 the year prior. The Register reports: Yet while layoffs have generally kept IT job growth flat for the past year (2023's net 700 comes despite more than 21,000 IT jobs being created in Q4), there's still a surplus of vacant roles, with [tech consultancy Janco Associates] finding some 88,000 remain open. "Based on our analysis, the IT job market and opportunities for IT professionals are poor at best," said Janco CEO M Victor Janulaitis. "Currently, there are almost 100K unfilled jobs with over 101K unemployed IT Pros -- a skills mismatch."

In other words, while we're definitely dealing with correction from pandemic overhiring, we're also wading into a new paradigm where a lot of tech talent is going to have to retrain because AI is being crammed wherever C-level employees can stick it. Much of the layoff debt to hit IT jobs have come to entry-level positions, especially those in the customer service telecommunications and hosting automation areas. In turn, some of the responsibilities of those jobs are being reassigned to the latest and greatest AIs, says Janco.

According to the tech consultancy, entry-level IT demand is shrinking, though demand for those with AI, security, development, and blockchain skills remain desired. "Artificial Intelligence and Machine Learning IT Professionals remain in high demand," said Janulaitis. Still, plans to further replace humans with AI workers at the entry level are hardly far-fetched, with multiple reports finding much the same. [...] Those caught up by this year's tech layoffs seem to have a simple solution on their hands, as far as Janco's data suggests: Retrain for AI. Problem solved ... until the next big thing comes along.

Education

US News Makes Money From Some of Its Biggest Critics: Colleges 29

Jonathan Henry, a vice president at the University of Maine at Augusta, is hoping that an email will arrive this month. He is also sort of dreading it. The message, if it comes, will tell him that U.S. News & World Report has again ranked his university's online programs among the nation's best. History suggests the email will also prod the university toward paying U.S. News, through a licensing agent, thousands of dollars for the right to advertise its rankings. The New York Times: For more than a year, U.S. News has been embroiled in another caustic dispute about the worthiness of college rankings -- this time with dozens of law and medical schools vowing not to supply data to the publisher, saying that rankings sometimes unduly influence the priorities of universities. But school records and interviews show that colleges nevertheless feed the rankings industry, collectively pouring millions of dollars into it.

Many lower-profile colleges are straining to curb enrollment declines and counter shrinking budgets. And any endorsement that might attract students, administrators say, is enticing. Maine at Augusta spent $15,225 last year for the right to market U.S. News "badges" -- handsome seals with U.S. News's logo -- commemorating three honors: the 61st-ranked online bachelor's program for veterans, the 79th-ranked online bachelor's in business and the 104th-ranked online bachelor's. Mr. Henry, who oversees the school's enrollment management and marketing, said there was just too much of a risk of being outshined and out-marketed by competing schools that pay to flash their shiny badges. "If we could ignore them, wouldn't that be grand?" Mr. Henry said of U.S. News. "But you can't ignore the leviathan that they are."

Nor can colleges ignore how families evaluate schools. "The Amazonification of how we judge a product's quality," he said, has infiltrated higher education, as consumers and prospective students alike seek order from chaos. The money flows from schools large and small. The University of Nebraska at Kearney, which has about 6,000 students, bought a U.S. News "digital marketing license" for $8,500 in September. The Citadel, South Carolina's military college, moved in August to spend $50,000 for the right to use its rankings online, in print and on television, among other places. In 2022, the University of Alabama shelled out $32,525 to promote its rankings in programs like engineering and nursing. Critics believe that the payments, from schools of any size and wealth, enable and incentivize a ranking system they see as harmful.
United States

IRS To Begin Trial of Its Own Free Tax-Filing System (nytimes.com) 96

The Internal Revenue Service is rolling out a free option for filing federal tax returns this year to some residents of a dozen states. From a report: Last month, the agency published details of its plan to test an in-house filing system, in which taxpayers submit their federal tax returns directly to the agency online at no cost. Residents of 12 states are eligible to participate if they meet certain criteria. "This is a critical step forward for this innovative effort that will test the feasibility of providing taxpayers a new option to file their returns for free directly with the I.R.S.," Danny Werfel, the agency's commissioner, said in a recent statement.

While the direct filing system is starting on a limited basis, it has already faced some resistance, particularly from commercial tax-preparation companies. A spokeswoman for Intuit, Tania Mercado, criticized the direct file project as a "half-baked solution" and a waste of taxpayer money. "The direct file scheme is a solution in search of a problem," she said. Intuit makes the TurboTax tax preparation software. Democrats in Congress generally support the idea of free, direct filing, while Republicans contend that the idea, part of President Biden's plan to overhaul the I.R.S., would give the agency even more power over ordinary taxpayers.
US lawmakers said earlier this month that federal tax credits that Intuit received could have been better spent to build a free government alternative to Intuit's popular online tax preparation software TurboTax. The IRS estimates it would cost $64 million to $249 million annually for the agency to run a free-filing program. In the fiscal year ending in July 2023, Mountain View, California-based Intuit received $106 million in federal research and experimentation credits, which amounted to about 4% of its total R&D expenses, according to a regulatory filing.
Transportation

Hundreds of US Car Dealerships Abandon Buicks. Are EVs to Blame? (msn.com) 210

As General Motors prepares to roll out electric versions of its Buicks, "hundreds of Buick dealerships nationwide" are "turning their backs on the storied brand," reports the Boston Globe.

"The move to electric Buicks is one reason so many dealers are giving up their Buick franchises, according to auto industry watchers." They say that smaller, low-volume Buick dealers either can't or won't make the big investments needed to begin selling EVs, especially as sales growth in the sector has cooled and unsold electrics are piling up on dealer lots. "I think there are dealers who are just not confident in the electric vehicle transition and they don't want to have to commit to the investment," said Karl Brauer, executive analyst at online car retailer iSeeCars.com...

Buick has announced its intention to migrate to an all-electric line of cars by the end of the decade. The brand's first EV is set to go on sale this year. But getting ready to sell EVs is a costly proposition. Dealers must purchase new equipment to service the cars and must pay for worker retraining. GM estimates that the upfront cost to dealers will range between $200,000 and $400,000. "If you're in a market where you're not selling a lot of Buicks, investing a lot to sell electric Buicks may not make a good business case," said Mark Schirmer, spokesperson for Cox Automotive, an Atlanta-based automotive marketing company.

While 854,000 Buicks were sold in 1980, just 103,000 were sold in 2022 — down from 207,000 in 2019, according to the article. So in 2022 GM bought out 44 percent of its dealerships (which they say accounted for just 20% of all U.S. Buick sales), with the majority of them still selling other GM brands like Chevrolet and GMC.

But the article also includes some perspective from Robert O'Koniewski, executive vice president of the Massachusetts State Automobile Dealers Association. "The only reason GM has kept the Buick alive is that it's popular in China." That's Buick's biggest market by far, thanks to a 50-50 joint venture it launched in 1997 with government-owned SAIC Motor, China's biggest carmaker. The partnership sold 653,000 Chinese Buicks in 2022.

But that's a big decline from the 926,000 sold in 2020. Brauer said that Chinese consumers are pulling away from the US brand in favor of Chinese companies like BYD, which passed Tesla in the fourth quarter of 2023 to become the world's largest maker of electric vehicles.

The Internet

How AI-Generated Content Could Fuel a Migration From Social Media to Independent 'Authored' Content (niemanlab.org) 68

The chief content officer for New York's public radio station WNYC predicts an "AI-fueled shift to niche community and authored excellence."

And ironically, it will be fueled by "Greedy publishers and malicious propagandists... flooding the web with fake or just mediocre AI-generated 'content'" which will "spotlight and boost the value of authored creativity." And it may help give birth to a new generation of independent media. Robots will make the internet more human.

First, it will speed up our migration off of big social platforms to niche communities where we can be better versions of ourselves. We're already exhausted by feeds that amplify our anxiety and algorithms that incentivize cruelty. AI will take the arms race of digital publishing shaped by algorithmic curation to its natural conclusion: big feed-based social platforms will become unending streams of noise. When we've left those sites for good, we'll miss the (mostly inaccurate) sense that we were seeing or participating in a grand, democratic town hall. But as we find places to convene where good faith participation is expected, abuse and harassment aren't, and quality is valued over quantity, we'll be happy to have traded a perception of scale influence for the experience of real connection.

Second, this flood of authorless "content" will help truly authored creativity shine in contrast... "Could a robot have done this?" will be a question we ask to push ourselves to be funnier, weirder, more vulnerable, and more creative. And for the funniest, the weirdest, the most vulnerable, and most creative: the gap between what they do and everything else will be huge. Finally, these AI-accelerated shifts will combine with the current moment in media economics to fuel a new era of independent media.

For a few years he's seen the rise of independent community-funded journalists, and "the list of thriving small enterprises is getting longer." He sees more growth in community-funding platforms (with subscription/membership features like on Substack and Patreon) which "continue to tilt the risk/reward math for audience-facing talent....

"And the amount of audience-facing, world-class talent that left institutional media in 2023 (by choice or otherwise) is unlike anything I've seen in more than 15 years in journalism... [I]f we're lucky, we'll see the creation of a new generation of independent media businesses whose work is as funny, weird, vulnerable and creative as its creators want it to be. And those businesses will be built on truly stable ground: a direct financial relationship with people who care.

"Thank the robots."
Earth

The Land is Steadily Sinking Up and Down America's Atlantic Coast (arstechnica.com) 85

In Jakarta, Indonesia, "the land is sinking nearly a foot a year because of collapsing aquifers," reports Wired. "Accordingly, within the next three decades, 95 percent of North Jakarta could be underwater."

"Subsidence" is caused by over-extracting groundwater, or the settling of sediments — and it's not just happening in Indonesia. "In California's agriculturally intensive San Joaquin Valley, elevations have plummeted not by inches, but by dozens of feet." Last year, scientists reported that the US Atlantic Coast is dropping by several millimeters annually, with some areas, like Delaware, notching figures several times that rate. So just as the seas are rising, the land along the eastern seaboard is sinking, greatly compounding the hazard for coastal communities. In a follow-up study just published in the journal PNAS Nexus, the researchers tally up the mounting costs of subsidence — due to settling, groundwater extraction, and other factors — for those communities and their infrastructure... [O]ver 3,700 square kilometers [1,428 square miles] along the Atlantic Coast are sinking more than 5 millimeters annually. That's an even faster change than sea-level rise, currently at 4 millimeters a year...

A few millimeters of annual subsidence may not sound like much, but these forces are relentless: Unless coastal areas stop extracting groundwater, the land will keep sinking deeper and deeper... The researchers selected 10 levees on the Atlantic Coast and found that all were impacted by subsidence of at least 1 millimeter a year. That puts at risk something like 46,000 people, 27,000 buildings, and $12 billion worth of property. But they note that the actual population and property at risk of exposure behind the 116 East Coast levees vulnerable to subsidence could be two to three times greater. "Levees are heavy, and when they're set on land that's already subsiding, it can accelerate that subsidence," says independent scientist Natalie Snider, who studies coastal resilience but wasn't involved in the new research. "It definitely can impact the integrity of the protection system and lead to failures that can be catastrophic...."

The study finds that subsidence is highly variable along the Atlantic Coast, both regionally and locally, as different stretches have different geology and topography, and different rates of groundwater extraction. It's looking particularly problematic for several communities, like Virginia Beach, where 451,000 people and 177,000 properties are at risk. In Baltimore, Maryland, it's 826,000 people and 335,000 properties, while in NYC — in Queens, Bronx, and Nassau — that leaps to 5 million people and 1.8 million properties.

Highways, airports, and even railway tracks could also be affected....
Ubuntu

ZDNet Calls Rhino Linux 'New Coolest Linux Distro' (zdnet.com) 52

If you're starting the new year with a new Linux distro, ZDNet just ran an enthusiastic profile of Rhino Linux, calling it "beautiful" with "one of the more useful command-line package managers on the market." Rhino uses a modern take on the highly efficient and customizable Xfce desktop (dubbed "Unicorn") to help make the interface immediately familiar to anyone who logs in. You'll find a dock on the left edge of the screen that contains launchers for common applications, access to the Application Grid (where you can find all of your installed software), and a handy Search Bar (Ulauncher) that allows you to quickly search for and launch any installed app (or even the app settings) you need...

Thanks to myriad configuration options, Xfce can be a bit daunting. At the same time, the array of settings makes Xfce highly customizable, which is exactly what the Rhino developers did when they designed this desktop. For those who want a desktop that makes short work of accessing files, the Rhino developers have added a really nifty tool to the top bar. You'll find a listing of some folders you have in your Home directory (Files, Documents, Music, Pictures, Video). If you click on one of those entries, you'll see a list of the most recently accessed files within the directory. Click on the file you want to open with the default, associated application...

Rhino opts for the Pacstall package manager over the traditional apt-get. That's not to say apt-get isn't on the system — it is. But with Rhino Linux, there's a much easier path to getting the software you want installed... [W]hen you first run the installed OS, you are greeted with a window that allows you to select what package managers you want to use. You can select from Snap, Flatpak, and AppImages (or all three). Next, the developers added a handy tool (rhino-pkg) that makes installing from the command line very simple.

When the distro launched in August, 9to5Linux described it as "a unique distribution for Ubuntu fans who wanted a rolling-release system where they install once and receive updates forever." The theming looks gorgeous and it's provided by the Elementary Xfce Darker icon theme, Xubuntu's Greybird GTK theme, and Ubuntu's Yaru Dark WM theme. It also comes with some cool features, such as a dedicated and full-screen desktop switcher provided by Xfdashboard...
Mozilla

What's Next for Mozilla - and for Open Source AI? (techcrunch.com) 33

"For the last few years, Mozilla has started to look beyond Firefox," writes TechCrunch, citing startup investments like Mastodon's client Mammoth and the Fakespot browser extension that helps identify fake reviews. But Mozilla has also launched Mozilla.ai (added a bunch of new AI-focused members to its board).

In an interview with TechCrunch, Mozilla's president and executive director Mark Surman clarifies their plans, saying that Mozilla.ai "had a broad mandate around finding open source, trustworthy AI opportunities and build a business around them." "Quickly, Moez [Draief], who runs it, made it about how do we leverage the growing snowball of open source large language models and find a way to both accelerate that snowball but also make sure it rolls in a direction that matches our goals and matches our wallet belt...." Right now, Surman argued, it remains hard to for most developers — and even more so for most consumers — to run their own models, even as more open source models seemingly launch every day. "What Mozilla.ai is focused on really is almost building a wrapper that you can put around any open source large language model to fine-tune it, to build data pipelines for it, to make it highly performant."
While much work is in stealth mode, TechCrunch predicts "we'll hear quite a bit more in the coming months." Meanwhile, the open source and AI communities are still figuring out what exactly open source AI is going to look like. Surman believes that no matter the details of that, though, the overall principles of transparency and freedom to study the code, modify it and redistribute it will remain key... "We probably lean towards that everything should be open source — at least in a spiritual sense. The licenses aren't perfect and we are going to do a bunch of work in the first half of next year with some of the other open source projects around clarifying some of those definitions and giving people some mental models...."

With a small group of very well-funded players currently dominating the AI market, he believes that the various open source groups will need to band together to collectively create alternatives. He likened it to the early era of open source — and especially the Linux movement — which aimed to create an alternative to Microsoft...

Surman seems to be optimistic about Mozilla's positioning in this new era of AI, though, and its ability to both use it to further its mission and create a sustainable business model around it. "All this that we are going to do is in the kind of service of our mission. And some of that, I think, will just have to be purely a public good," he said. "And you can pay for public goods in different kinds of way, from our own resources, from philanthropy, from people pooling resources. [...] It's a kind of a business model but it's not commercial, per se. And then, the stuff we're building around communal AI hopefully has a real enterprise value if we can help people take advantage of open source large language models, effectively and quickly, in a way that is valuable to them and is cheaper than using open AI. That's our hope."

And what about Firefox? "I think you'll see the browser evolve," says Mozilla's president. "In our case, that's to be more protective of you and more helpful to you.

"I think it's more that you use the predictive and synthesizing capabilities of those tools to make it easier and safer to move through the internet."
The Almighty Buck

'As AI Rises, is Web3 Dead in the Water?' (inc.com) 128

Inc. reports that funding for Web3 startups in 2023 "declined 73% from 2022, according to new data from Crunchbase." In total, Web3 startups netted $7.8 billion in 2023, compared with the $21.5 billion raised in 2022. It's part of a broader and sobering comedown from the stratospheric highs of tech's pandemic boom time, in which investment flowed to startups at historic rates, valuations soared and unicorns emerged seemingly every week. Last year firmly belonged to AI, with $17.8 billion invested in the sector, according to Dealroom.

Even as some remain convinced of Web3's future, uncertainty lingers over certain stumbling blocks, including how the technology can be farmed out to a massive user base on par with today's biggest tech firms. "I haven't seen [a company] that screams to me, 'this is what's going to get people on board,'" says Jillian Grennan, a business and law professor at UC Berkeley who studies Web3. Web3 startups are failing to net the investment indicative of revolutionary tech as AI steals the show and the dough. The reasons vary: Many have pointed out that defining Web3 is tricky, and Grennan mentions that appetites for navigating digital worlds may have been dented by pandemic-born Zoom fatigue.

Beyond that, there's the question of how to regulate crypto — a marquee aspect of the Web3 universe--which may have given investors some pause. "In this next period, we're going to get some important regulatory clarity that we just haven't had," Richard Dulude, co-founder and partner at Underscore VC tells Inc. "A lot of people sit on the sidelines until they have that...."

Interest rate hikes and the bloated startup valuations of 2021 have meant VCs can't throw their weight behind exciting ideas alone, Dulude says. The sector is undergoing "this transition from chasing growth, and trying to grow at all costs to actually investing behind the growth," he says.... All the investment couldn't compensate for one vulnerability: The technology is hard to use... Macroeconomic factors are of course important, but an industry resurgence depends first on whether Web3 can become easier to navigate for average people and provide them with a reason to hang around. "It's still pretty cumbersome to interact with the technology," Dulude explains. "Until it's made usable, it's really hard to break out of the current market environment we're in."

Power

America's First Large-Scale Offshore Wind Project Finally Begins Generating Electricity (wbur.org) 43

A year ago the Washington Post reported "there are only seven working offshore wind turbines in the entire United States," adding that a massive wind project south of Martha's Vineyard, Massachusetts "is years behind schedule amid regulatory delays and litigation from opponents."

But this week a local public radio station reported that electricity from America's first large-scale offshore wind project "is officially flowing into Massachusetts and helping to power the New England grid." The Vineyard Wind project achieved "first power" late Tuesday when one operating turbine near Martha's Vineyard delivered approximately five megawatts of electricity to the grid. The company said it expects to have five turbines operating at full capacity in early 2024... Once it's finished sometime in 2024, it will consist of 62 turbines spaced about a mile apart and rising more than 800 feet out of the water. The project will generate up to 800 megawatts of power, or about enough electricity for 400,000 homes in Massachusetts.

Another smaller project near Long Island, South Fork Wind, also began producing electricity in early December. When that project is complete, its 12 turbines will generate about 132 megawatts of power...

Massachusetts, in partnership with Rhode Island and Connecticut, is currently seeking bids for another 3,600 megawatts of offshore wind power... "This is a historic moment for the American offshore wind industry," wrote Gov. Maura Healey. "This is clean, affordable energy made possible by the many advocates, public servants, union workers, and business leaders who worked for decades to accomplish this achievement.

Last year America's seven offshore wind turbines generated "a paltry 42 megawatts," according to the article, "far less than the average natural gas power plant."

The CEO of one of the company's behind the project hailed the last 12 months as "a historic year defined by steel in the water and people at work."
Open Source

Jabber Was Announced on Slashdot 25 Years Ago This Week (slashdot.org) 32

25 years ago, Slashdot's CmdrTaco posted an announcement from Slashdot reader #257. "Jabber is a new project I recently started to create a complete open-source platform for Instant Messaging with transparent communication to other Instant Messaging systems (ICQ, AIM, etc).

"Most of the initial design and protocol work is done, as well as a working server and a few test clients."

You can find the rest of the story on Wikipedia. "Its major outcome proved to be the development of the XMPP protocol." ("Based on XML, it enables the near-real-time exchange of structured data between two or more network entities.") Originally developed by the open-source community, the protocols were formalized as an approved instant messaging standard in 2004 and have been continuously developed with new extensions and features... In addition to these core protocols standardized at the IETF, the XMPP Standards Foundation (formerly the Jabber Software Foundation) is active in developing open XMPP extensions...

XMPP features such as federation across domains, publish/subscribe, authentication and its security even for mobile endpoints are being used to implement the Internet of Things.

"Designed to be extensible, the protocol offers a multitude of applications beyond traditional IM in the broader realm of message-oriented middleware, including signalling for VoIP, video, file transfer, gaming and other uses..."

Slashdot reader #257 turned out to be Jeremie Miller (who at the time was just 23 years old). And according to his own page on Wikipedia, "Currently, Miller sits on the board of directors for Bluesky Social, a social media platform."
United States

America's FAA Temporarily Grounds All Boeing 737 Max 9s - After a Window Blows Off In-Flight (cnn.com) 148

Today America's Federal Aviation Administration "ordered the temporary grounding of Boeing 737 Max 9 aircraft," reports CNN, identifying the aircraft as "the model involved in an Alaska Airlines emergency landing in Oregon on Friday after a section of the plane apparently blew out in midflight." A passenger's video posted to social media shows a side section of the fuselage, where a window would have been, missing — exposing passengers to the outside air. The video, which appears to have been taken from several rows behind the incident, shows oxygen masks deployed throughout the airplane, and least two people sitting near and just behind the missing section...

The plane "landed safely back at Portland International Airport with 171 guests and six crew members," the airline said... According to FlightAware, the flight was airborne for about 20 minutes.

"There was a really loud bang toward the rear of the plane and a whoosh noise," one passenger told a local news station — and then "all of the masks dropped."

Long-time Slashdot reader ArchieBunker shares more details from the BBC: Diego Murillo said the gap was "as wide as a refrigerator".

Fellow passenger Elizabeth Lee added: "Part of the plane was missing and the wind was just extremely loud. but everyone was in their seats and had their belt on."

Jessica Montoia described the flight as a "trip from hell" adding a phone was taken out of a man's hand by the wind.

CNN covers the federal response: The FAA said the planes must be parked until emergency inspections are performed, which will "take around four to eight hours per aircraft."

"The FAA is requiring immediate inspections of certain Boeing 737 MAX 9 planes before they can return to flight," FAA Administrator Mike Whitaker said Saturday in a statement. "Safety will continue to drive our decision-making as we assist the (National Transportation Safety Board's) investigation into Alaska Airlines Flight 1282." The order impacts 171 Boeing 737 Max 9 jets, the agency approximates....

Boeing said the company supported the FAA's grounding decision. "Safety is our top priority and we deeply regret the impact this event has had on our customers and their passengers," Boeing said in a statement

Thanks to long-time Slashdot reader lsllll for sharing the news.
Education

After Reports of His Own Wife's Plagiarism, Bill Ackman Threatens Plagiarism Reviews For All MIT Faculty (businessinsider.com) 293

This week Harvard's president Claudine Gay resigned "after conservative activists revealed she had plagiarized," writes Business Insider, adding that hedge fund manager/prominent Harvard donor Bill Ackman "helped lead the charge."

Then Business Insider "analyzed Ackman's wife's doctoral dissertation and found numerous instances of plagiarism." In most cases Ackman's wife put the author's name and publication date immediately after the material which she used — but did not put quotation marks around it. But according to the Business Insider, "At least 15 passages from her 2010 MIT doctoral dissertation were lifted without any citation from Wikipedia entries." Her husband, Ackman, has taken a hardline stance on plagiarism. On Wednesday, responding to news that Gay is set to remain a part of Harvard's faculty after she resigned as president, he wrote on X that Gay should be fired completely due to "serious plagiarism issues... Students are forced to withdraw for much less," Ackman continued. "Rewarding her with a highly paid faculty position sets a very bad precedent for academic integrity at Harvard."
Ackman's wife was a tenured MIT professor from 2017 to 2021, according to the article. "It is unfortunate that my actions to address problems in higher education have led to these attacks on my family," Ackman posted Friday night on Twitter.

Then Ackman threatened "a review of the work of all current MIT faculty members. We will begin with a review of the work of all current MIT faculty members, President Kornbluth, other officers of the Corporation, and its board members for plagiarism."

Business Insider notes that Ackman "has been vocal about wanting to see MIT's president, Sally Kornbluth, fired since Kornbluth testified on December 5 in front of a congressional panel examining how university presidents handled student protests against Israel's war in Gaza. Kornbluth said in her opening statement that she didn't support 'speech codes' that would restrict what students say during protests."
Government

US Moves Closer To Filing Sweeping Antitrust Case Against Apple (nytimes.com) 119

An anonymous reader quotes a report from the New York Times: The Justice Department is in the late stages of an investigation into Apple and could file a sweeping antitrust case taking aim at the company's strategies to protect the dominance of the iPhone as soon as the first half of this year, said three people with knowledge of the matter. The agency is focused on how Apple has used its control over its hardware and software to make it more difficult for consumers to ditch the company's devices, as well as for rivals to compete, said the people, who spoke anonymously because the investigation was active. Specifically, investigators have examined how the Apple Watch works better with the iPhone than with other brands, as well as how Apple locks competitors out of its iMessage service. They have also scrutinized Apple's payments system for the iPhone, which blocks other financial firms from offering similar services, these people said.

The Justice Department is closing in on what would be the most consequential federal antitrust lawsuit challenging Apple, which is the most valuable tech company in the world. If the lawsuit is filed, American regulators will have sued four of the biggest tech companies for monopolistic business practices in less than five years. The Justice Department is currently facing off against Google in two antitrust cases, focused on its search and ad tech businesses, while the Federal Trade Commission has sued Amazon and Meta for stifling competition. The Apple suit would likely be even more expansive than previous challenges to the company, attacking its powerful business model that draws together the iPhone with devices like the Apple Watch and services like Apple Pay to attract and keep consumers loyal to its products. Rivals have said that they have been denied access to key Apple features, like the Siri virtual assistant, prompting them to argue the practices are anticompetitive.

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