It's the one-year anniversary of El Salvador's adopting Bitcoin as a legal tender, so Bloomberg follows up, finding a country where "Adoption has moved slowly, and steep declines in Bitcoin's price from those lofty levels last fall have dampened the early euphoria that swept across the nation."

"Bitcoin hasn't replaced El Salvador's hard currency, the U.S. dollar — it's not even close — but it also hasn't brought the financial ruin that some warned of either. Or not yet anyway." "No one really talks about Bitcoin here anymore. It's kind of been forgotten," said former El Salvador central bank chief Carlos Acevedo. "I don't know if you'd call that a failure, but it certainly hasn't been a success...."

As part of the rollout, Salvadorans were offered government-issued digital wallets preloaded with $30 worth of Bitcoin to help kick things off. Under the law, taxes can be paid in Bitcoin and businesses should accept it as a form of payment, unless they are technologically unable to do so. But the coin's volatility has spooked users, and cryptocurrency has seen broader acceptance in countries with poor payment networks or strict currency controls, such as Argentina, Venezuela and Cuba, Acevedo said. "In El Salvador we have a good payments network, so why transfer money with cryptocurrency?" he said.

Most Salvadorans haven't poured large amounts of money into Bitcoin, saving many from the recent bear market, Acevedo said. The same can't be said of the government itself, which started purchasing the token last year in the run-up to its launch as legal tender and has continued to add to its stockpile, conspicuously "buying the dip" during periods when Bitcoin declined. The result? It's sitting on losses. [Later the article points out "The government's 2,381 Bitcoin bought with public funds are worth $47.2 million at current prices, less than half what the administration paid for them."] A series of recent surveys found that only a relatively small minority of respondents continue to use digital wallets and few businesses have registered transactions in Bitcoin. And the central bank says only 2% of remittances have been sent via cryptocurrency wallets.

The government is still claiming victory, however. Bitcoin has attracted foreign investment and tourism and increased financial access to a largely unbanked population, according to Finance Minister Alejandro Zelaya. The government says its digital wallet, Chivo, has more than 4 million users. Tourism is on pace to surpass pre-pandemic levels this year and the central bank says 59 cryptocurrency and blockchain companies have registered offices in El Salvador.
Other observations from Bloomberg:

• While El Salvador's president remains popular, a May poll by a local university found 71.1% of respondents said the Bitcoin law didn't improve their family's finances.... "If you go to any market in El Salvador, you're more likely to receive an insult than be able to purchase something in Bitcoin," said the director of the university's public opinion institute. "It's not a part of people's daily routine."

• The IMF "has held off on approving a $1.3 billion program for the country citing risks from Bitcoin."

• Plans are still on for a Bitcoin-backed "volcano token".

The Washington Post shares a little-acknowledged downside to electric cars: recharging takes "upward of 15 to 30 minutes."

But scientists are already working on improvements: In a report released this week, government researchers said they have found a way to charge electric car batteries up to 90 percent in just 10 minutes. The method is likely five years away from making its way into the market, scientists said, but would mark a fundamental shift. "The goal is to get very, very close to [times] you would see at the gas pump," said Eric Dufek, a lead author of the study and scientist at the Idaho National Laboratory, a research center run by the Department of Energy....

At issue is the delicate balance of trying to charge an electric vehicle battery quicker, but not doing it so fast that a rapid charge does long-term damage to the battery or plays a role in causing them to explode. Charging electric batteries fast can cause damage, reducing the battery's life span and performance, scientists said. "You've had batteries when you first got it, they were great, but after a couple years or a few hundred charge cycles, they don't perform as well," said Eric D. Wachsman, director of the Maryland Energy Innovation Institute, an energy research organization at the University of Maryland. To try to solve this, Dufek and his team used machine learning to figure out how batteries age when charging fast. Their algorithm was trained to analyze 20,000 to 30,000 data points which indicated how well the battery was charging and whether it was aging or degrading....

Wachsman said the new research is helpful for the field. "Not too fast, not too slow," he said of Dufek's charging approach. "It's just right in that Goldilocks [zone]." But the bigger benefit, he said, would be if this method spurs car companies to make electric vehicles with smaller batteries, since they'd now have batteries that could be charged quicker and allow consumers to feel less worried about stopping periodically to get a quick recharge.

"Smaller batteries are cheaper cars," he said.

"At the onset of the outbreak, scientists thought they knew when and how the monkeypox virus was spread, what the disease looked like and who was most vulnerable," remembers the New York Times.

"The 47,000 cases identified worldwide have upended many of those expectations." Some had headaches or depression, confusion and seizures. Others had severe eye infections or inflammation of the heart muscle. At least three of the six deaths reported so far were linked to encephalitis, an inflammation of the brain. "We really are seeing a very, very wide range of presentation," said Dr. Boghuma Titanji, an infectious disease physician at a clinic in Atlanta that serves people living with H.I.V. Scientists now know that the monkeypox virus lurks in saliva, semen and other bodily fluids, sometimes for weeks after recovery. The virus has always been known to spread through close contact, but many researchers suspect the infection may also be transmitted through sex itself....

"It's no longer correct to say it can't be transmitted asymptomatically," said Dr. Chloe Orkin, an infectious disease physician at Queen Mary University of London. "I think that it means that our working model of how it's spread is incorrect."

Early in the outbreak, [America's Centers for Disease Control] said that "people who do not have monkeypox symptoms cannot spread the virus to others." The agency changed that phrasing on July 29 to say that "scientists are still researching" the possibility of asymptomatic transmission. In a statement to The New York Times, an agency spokeswoman acknowledged recent evidence that asymptomatic cases were possible but said that it was still uncertain whether people without symptoms could spread the virus and that more research was needed.

"The nurse said to send photos so the doctor could review them in advance," the New York Times reports, decribing how an ordeal began in February of 2021 for a software engineer named Mark who had a sick son: Mark's wife grabbed her husband's phone and texted a few high-quality close-ups of their son's groin area to her iPhone so she could upload them to the health care provider's messaging system. In one, Mark's hand was visible, helping to better display the swelling. Mark and his wife gave no thought to the tech giants that made this quick capture and exchange of digital data possible, or what those giants might think of the images. With help from the photos, the doctor diagnosed the issue and prescribed antibiotics, which quickly cleared it up....

Two days after taking the photos of his son, Mark's phone made a blooping notification noise: His account had been disabled because of "harmful content" that was "a severe violation of Google's policies and might be illegal." A "learn more" link led to a list of possible reasons, including "child sexual abuse & exploitation...." He filled out a form requesting a review of Google's decision, explaining his son's infection. At the same time, he discovered the domino effect of Google's rejection. Not only did he lose emails, contact information for friends and former colleagues, and documentation of his son's first years of life, his Google Fi account shut down, meaning he had to get a new phone number with another carrier. Without access to his old phone number and email address, he couldn't get the security codes he needed to sign in to other internet accounts, locking him out of much of his digital life....

A few days after Mark filed the appeal, Google responded that it would not reinstate the account, with no further explanation. Mark didn't know it, but Google's review team had also flagged a video he made and the San Francisco Police Department had already started to investigate him.... In December 2021, Mark received a manila envelope in the mail from the San Francisco Police Department. It contained a letter informing him that he had been investigated as well as copies of the search warrants served on Google and his internet service provider. An investigator, whose contact information was provided, had asked for everything in Mark's Google account: his internet searches, his location history, his messages and any document, photo and video he'd stored with the company. The search, related to "child exploitation videos," had taken place in February, within a week of his taking the photos of his son.

Mark called the investigator, Nicholas Hillard, who said the case was closed. Mr. Hillard had tried to get in touch with Mark but his phone number and email address hadn't worked....

Mark appealed his case to Google again, providing the police report, but to no avail.... A Google spokeswoman said the company stands by its decisions...
"The day after Mark's troubles started, the same scenario was playing out in Texas," the Times notes, quoting a technologist at the EFF who speculates other people experiencing the same thing may not want to publicize it. "There could be tens, hundreds, thousands more of these."

Reached for a comment on the incident, Google told the newspaper that "Child sexual abuse material is abhorrent and we're committed to preventing the spread of it on our platforms."

A local news report called it "a futuristic dream, now a reality in Las Vegas: self-driving vehicles moving customers up and down the Las Vegas strip." Lyft's ride-hailing service now lets customers book Motional's all-electric (and autonomous driving) IONIQ 5.

Not everyone's sold. "Love technology — love it, promote it — but we don't need to replace every human," said one person interviewed on the street. But "the digital wave continues to sweep Las Vegas," the newscast points out, with the car company's director of commercial fleet operations insisting it will ultimately make transportation more affordable, sustainable, and reliable. "We look at this as an opportunity to really show that robotaxis are the best way for people to get around," he says, noting Vegas drivers have to contend with lots of night-time driving, bright lights, unusually wide lanes and big intersections.

The city once adopted the slogan "what happens in Vegas stays in Vegas," and some passengers might appreciate the extra privacy of a truly driverless vehicle. Passengers "for the time being, will be accompanied by two safety drivers in the event of an error," according to news reports, but that's expected to change soon: "Motional and Lyft have a clear path to widespread commercialization of Level 4 autonomous vehicles," said Karl Iagnemma, Motional's president and CEO. "We've led the industry in commercial operations for years, and today's launch signals we're on track to deliver a fully driverless service next year...."

Upon arrival, riders who order the IONIQ 5 can unlock the doors to the vehicle using the Lyft mobile app. Once inside the vehicle, customers can start the ride or contact customer support by using the new in-car Lyft AV app [on a touchscreen for passengers]. By making these new features available now, despite the presence of the two safety drivers, Lyft hopes to solicit customer feedback and refine the new tools before the service goes fully driverless in 2023.

Lyft and Motional have been piloting autonomous rides in other vehicles in Las Vegas since 2018, with more than 100,000 autonomous rides provided thus far, over 95% of which have received five-star ratings, according to the companies. Feedback gathered on the new IONIQ 5 autonomous vehicle over the coming months will help to inform Lyft's launch of fully driverless e-hail trips in Las Vegas sometime next year.

After that, the company plans to expand the driverless, e-hail service to various other markets throughout the country.

Union-organizing startup "Unit of Work" received a $1.4-million pre-seed investment led by the venture capital arm of billionaire Mike Bloomberg, reports the Los Angeles Times.

The startup's outside investors "have made fortunes backing technologies such as artificial intelligence, cryptocurrencies and video games. One is among California's foremost critics of public-sector labor unions." But the head of the startup's lead investment firm says that "whenever a community has a want that's going unfilled, there's an opportunity for companies." [T]hese people used to multibillion-dollar sales and IPOs see a big opportunity in the atomized, restive condition of America's workforce and the possibility of transforming it through a new era of unionization. "We only invest in areas where we think we can get a return," said Roy Bahat, head of Bloomberg Beta, the venture arm of billionaire Mike Bloomberg's media empire.

Unit's business model works like this: The startup's organizers provide free consulting to groups of workers organizing unions within their own workplaces — helping them build support to win elections, advising them on strategy in contract-bargaining sessions, guiding them through paperwork filings and around legal obstacles. Once a contract is in place, members of the new union can decide to pay Unit a monthly fee — similar to traditional union dues — to keep providing support.... Once the company starts earning income, it plans to buy out its investors and give their equity to the unions it helped organize, effectively transitioning corporate control to the customer base.

The approach has attracted some strange bedfellows. The second investment firm in the round, Draper Associates, is led by Tim Draper, a third-generation venture capitalist, bitcoin evangelist and outspoken critic of organized labor... [H]e launched a ballot initiative to ban public-sector unions in California.... "Unit of Work is making unions decentralized," Draper wrote in an email explaining his investment. "That will be awesome. Centralized unions tend to restrain trade, and government unions create bloated bureaucracy and poor government service on the whole.... "

Despite Draper's enthusiasm for independent unions, as opposed to nationally affiliated labor organizations, Unit's leaders and its website make clear that they support their clients if they decide to affiliate with a larger union.

An anonymous reader quotes a report from Gizmodo, written by Jody Serrano: In the early aughts, my wheezing dialup connection often operated as if it were perpetually out of breath. Thus, unlike my childhood friends, it was near to impossible for me to watch videos, TV shows, or listen to music. Far from feeling limited, I felt like I was lucky, for I had access to an encyclopedia of lovingly curated pages about anything I wanted to know -- which in those days was anime -- the majority of which was conveniently located on GeoCities. For all the zoomers scrunching up their brows, here's a primer. Back in the 1990s, before the birth of modern web hosting household names like GoDaddy and WP Engine, it wasn't exactly easy or cheap to publish a personal website. This all changed when GeoCities came on the scene in 1994.

The company gave anyone their own little space of the web if they wanted it, providing users with roughly 2 MB of space for free to create a website on any topic they wished. Millions took GeoCities up on its offer, creating their own homemade websites with web counters, flashing text, floating banners, auto-playing sound files, and Comic Sans. Unlike today's Wild Wild Internet, websites on GeoCities were organized into virtual neighborhoods, or communities, built around themes. "HotSprings" was dedicated to health and fitness, while "Area 51" was for sci-fi and fantasy nerds. There was a bottom-up focus on users and the content they created, a mirror of what the public internet was like in its infancy. Overall, at least 38 million webpages were built on GeoCities. At one point, it was the third most-visited domain online. Yahoo acquired GeoCities in 1999 for $3.6 billion. The company lived on for a decade more until Yahoo shut it down in 2009, deleting millions of sites.

Nearly two decades have passed since GeoCities, founded by David Bohnett, made its debut, and there is no doubt that the internet is a very different place than it was then. No longer filled with webpages on random subjects made by passionate folks, it now feels like we live in a cyberspace dominated by skyscrapers -- named Facebook, Google, Amazon, Twitter, and so on -- instead of neighborhoods. [...] We can, however, ask GeoCities' founder what he thinks of the internet of today, subsumed by social media networks, hate speech, and more corporate than ever. Bohnett now focuses on funding entrepreneurs through Baroda Ventures, an early-stage tech fund he founded, and on philanthropy with the David Bohnett Foundation, a nonprofit dedicated to social justice and social activism that he chairs. Right off the bat, Bohnett says something that strikes me. It may, in fact, be the sentence that summarizes the key distinction between the internet of the '90s-early 2000s and the internet we have today. "GeoCities was not about self-promotion," Bohnett told Gizmodo in an interview. "It was about sharing your interest and your knowledge." When asked to share his thoughts on the internet of today, Bohnett said: "... The heart of GeoCities was sharing your knowledge and passions about subjects with other people. It really wasn't about what you had to eat and where you've traveled. [...] It wasn't anything about your face." He added: "So, what has surprised me is how far away we've gotten from that original intent and how difficult it is [now]. It's so fractured these days for people to find individual communities. [...] I've been surprised at sort of the evolution away from self-generated content and more toward centralized programing and more toward sort of the self-promotion that we've seen on Facebook and Instagram and TikTok."

Bohnett went on to say that he thinks it's important to remember that "the pace of innovation on the internet continues to accelerate, meaning we're not near done. In the early days when you had dial up and it was the desktop, how could you possibly envision an Uber?"

"We're still in that trajectory where there's going to be various technologies and ways of communicating with each other, [as well as] wearable devices, blockchain technology, virtual reality, that will be as astounding as Uber seemed in the early days of GeoCities," added Bohnett. "I'm very, very excited about the future, which is why I continue to invest in early-stage startups because as I say, the pace of innovation accelerates and builds on top of itself. It's so exciting to see where we might go."

Indonesia has lifted its ban on Steam and Yahoo now that both companies complied with the country's restrictive laws that regulate online activity. From a report: The Indonesian Ministry of Communication and Information (Kominfo) announced the news in a translated update on Twitter, noting that Counter-Strike: Global Offensive and Dota 2 are back online as well. Last week, Indonesia blocked access to Steam, PayPal, Yahoo, Epic Games, and Origin after the companies failed to meet a deadline to register with the country's database. This requirement is bundled with a broader law, called MR5, that Indonesia first introduced in 2020. The law gives the Indonesian government the authority to order platforms to take down content considered illegal as well as request the data of specific users. In 2021, the digital rights group Electronic Frontier Foundation (EFF) called the policy "invasive of human rights." Although PayPal has yet to comply, Indonesia unblocked access to the service for five days starting July 31st to give users a chance to withdraw money and make payments. According to the Indonesian news outlet Antara News, PayPal reportedly plans on registering with the country's database soon.

Thursday the first trailer appeared online for Dungeons & Dragons: Honor Among Thieves — and 15 million people have watched it. "Here's the thing. We're a team of thieves..." actor Chris Pine says in a voiceover. "We didn't mean to unleash the greatest evil the world has ever known. But we're going to fix it."

The video's description explains that "A charming thief and a band of unlikely adventurers undertake an epic heist to retrieve a lost relic, but things go dangerously awry when they run afoul of the wrong people. Dungeons & Dragons: Honor Among Thieves brings the rich world and playful spirit of the legendary roleplaying game to the big screen in a hilarious and action-packed adventure."

The trailer also features Michelle Rodriguez, Regé-Jean Page, Hugh Grant, and a Druid that can turn into an Owlbear.

But at Comic-Con's Gaslamp Quarter there were also photo ops inside the legendary gelatinous cube, at a pop-up tavern serving glow-in-the-dark Dragon's Brew. The official "Dungeons & Dragons: Honor Among Thieves Tavern Experience" drew this rave review from Esquire. "Rest assured, friends, if the actual Dungeons and Dragons movie is anything like the tavern, it'll be a rocking, hilarious, self-aware, and — most importantly! — a fun trip." The team behind Dungeons and Dragons rigged the bar so that it would rumble like hell and fill with smoke whenever a dragon appeared on a massive video screen at the front. (We were supposed to infer that the tavern was under attack....)

Save a grog for me.
"Based on what we've seen, this movie looks like it's going to be a whole lot of fun," writes CinemaBlend: If you're hyped up for the campaign Dungeons and Dragons: Honor Among Thieves is promising here, you can take your place at the metaphorical gaming table starting March 3, 2023.
As the movie's trailer asks, "Who needs heroes when you have thieves?"

An anonymous reader quotes a report from Business Insider: Synchron, a brain-computer interface startup, reportedly implanted its first device in a US patient earlier this month. The startup implanted a 1.5-inch device into the brain of an ALS patient at Mount Sinai West medical center in New York on July 6, Bloomberg first reported. The purpose of the device is to allow the patient to communicate -- even after they have lost the ability to move -- by using their thoughts to send emails and texts. Bloomberg reported that Synchron has already implanted the device in four patients in Australia who have been able to use the brain implant to send messages on WhatsApp and shop online. Elon Musk's Neuralink has a similar mission, but is still waiting for FDA approval. "Neuralink and Synchron's products have several key differences: namely, size and installation," notes the report. "The Australian startup's product can be inserted into a human skull without cutting into it using a catheter that feeds the device through the jugular vein into a blood vessel in the brain. The process requires two separate surgeries."

"In contrast, Neuralink plans to make a much smaller and more powerful device that would require a portion of the individual's skull to be removed and would be performed using a robot." Neuralink also appears to be slightly more ambitious, with Musk referring to the device as "a Fitbit in your skull."

"A metallic NATO is starting to take shape," writes the senior metals columnist at Reuters, "though no-one is calling it that just yet." The Minerals Security Partnership is in theory open to all countries that are committed to "responsible critical mineral supply chains to support economic prosperity and climate objectives". But the coalition assembled by the United States is one of like-minded countries such as Australia, Canada, the United Kingdom, France and Germany with an Asian axis in the form of Japan and South Korea. [Also the European Commission, as well as Finland and Sweden.]

It is defined as much as anything by who is not on the invite list — China and Russia.

China's dominance of key enabling minerals such as lithium and rare earths is the single biggest reason why Western countries are looking to build their own supply chains. Russia, a major producer of nickel, aluminium and platinum group metals, is now also a highly problematic trading partner as its war in Ukraine that the Kremlin calls a "special military operation" grinds on. A previously highly globalised minerals supply network looks set to split into politically polarised spheres of influence, a tectonic realignment with far-reaching implications. The United States and Europe have realised that they can't build out purely domestic supply chains quickly enough to meet demand from the electric vehicle transition....

The process was already well underway before the U.S. State Department announced the formation of the Minerals Security Partnership on June 14. U.S. and Canadian officials have been working closely as Canada fleshes out a promised C$3.8 billion ($3.02 billion) package to boost production of lithium, copper and other strategic minerals. European Commission Vice-President Maros Sefcovic has just been in Norway to seal "a strategic partnership" on battery technologies and critical raw materials.
The article points out America's Department of Defense is already investing $120 million in a new plant for heavy rare earths separation — and has chosen an Australian company as its partner.

Shortly thereafter the Defense Department noted an online disinformation campaign against its new partner (according to U.S.-based cybersecurity firm Mandiant), disinformation which Reuters describes as "a pro-China propaganda campaign" using fake social media accounts to try to stir up opposition.

Nkwe writes: Russians are searching for pirated Microsoft software online after the US tech giant halted sales in the country over its invasion of Ukraine, the Kommersant newspaper reported earlier this week. Russia-based web searches for pirated Microsoft software have surged by as much as 250% after the company suspended new sales on March 4, according to Kommersant. In June so far, there's been a 650% surge in searches for Excel downloads, the media outlet added. Microsoft said earlier this month it's significantly scaling down business in Russia, joining a long list of companies winding down businesses in the country amid sweeping sanctions over the war in Ukraine. The move hits Russia hard because the country relies on foreign software to power many of its manufacturing and engineering tech systems, Bloomberg reported on Tuesday. Russian government agencies, too, are switching from Microsoft's Windows to the Linux operating system, the Moscow Times reported last Friday. Developers of Russian systems based on the Linux open source operating system are also seeing more demand, Kommersant reported. Not all sectors are able to swap out their systems easily.

Wall Street analysts estimate TSMC will grow second-quarter revenue 43 percent quarter-over-quarter to $18.1 billion. Intel, on the other hand, is expected to see sales decline 2 percent sequentially to $17.98 billion in the same period, according to estimates collected by Yahoo Finance. The Register reports: The potential for TSMC to surpass Intel in quarterly revenue is indicative of how demand has grown for contract chip manufacturing, fueled by companies like Qualcomm, Nvidia, AMD, and Apple who design their own chips and outsource manufacturing to foundries like TSMC. This trend has created a quandary for Intel. The semiconductor giant has traditionally manufactured the chips it designs as part of its integrated device manufacturing model but the company is now increasingly reliant on TSMC and other foundries for certain components, while expanding its own manufacturing capacity in the West.

The kicker is that Intel plans to use this increased capacity to produce more of its own chips while also supporting its revitalized foundry business, which hopes to take business from TSMC and South Korea's Samsung, the industry's other leading-edge chipmaker, in the future. This new strategy by Intel is called IDM 2.0, and it means the chipmaker will have to juggle two somewhat conflicting objectives:

- taking foundry market share away from TSMC and Samsung by convincing various fabless chip designers to use its plants;
- and using leading-edge nodes from TSMC and Samsung for certain components to compete with fabless companies like AMD and Nvidia. "Samsung has already surpassed Intel as the largest semiconductor company by revenue, so TSMC potentially growing larger than the x86 giant further underscores the tentative position Intel is in," concludes the report.

According to Bloomberg, the cryptocurrency exchange FTX is reportedly considering a deal to acquire digital trading platform Robinhood. From a report: Robinhood has not yet received a formal notice from FTX of any such takeover, the report said, while adding that FTX could ultimately choose not to pursue a purchase. The report of a potential acquisition by FTX comes just over a month after Sam Bankman-Fried, the CEO and founder of FTX, disclosed a 7.6% stake in Robinhood, paying $648 million at the time. As of Monday's close, this position was worth closer to $513 million. In a statement to Yahoo Finance following this report, Bankman-Fried said: "We are excited about Robinhood's business prospects and potential ways we could partner with them, and I have always been impressed by the business that Vlad and his team have built. That being said there are no active M&A conversations with Robinhood."

In recent days, Bankman-Fried's companies -- FTX and Alameda Research -- have offered loans to crypto firms in rough financial straits, with some likening his actions to those of Warren Buffett's during the Financial Crisis. Bankman-Fried's crypto exchange FTX offered crypto lender BlockFi a $250 million line of credit. Meanwhile, the 30-year old billionaire's trading firm, Alameda Research, has given Canadian crypto exchange Voyager a total line of credit in cash and crypto equal to more than $500 million. Similar to what Binance's founder, Changpeng Zhao, told Yahoo Finance, Bankman-Fried's actions could be interpreted both as a profit-making opportunity and a way to squash contagion in a sector where firms remain deeply intertwined in their financial dealings.

Last week a headline in the Los Angeles Times proclaimed "Look! Up in the sky! It's an air taxi. They're coming to Los Angeles."

Even the British newspaper the Times took notice: Air taxis will be flying through the skies above Los Angeles in time for the summer Olympics of 2028 if city officials and entrepreneurs have their way.

A Silicon Valley company is the latest to claim that it is close to creating viable electric vehicles that can offer short hops above the traffic-choked streets for not much more than the cost of an Uber ride. Adam Goldstein, chief executive of Archer Aviation, told the Los Angeles Times that his vertical take-off aircraft, designed to travel 60 miles on a single charge at up to 150mph, would "completely change the way we live, the way we work", and could be flying within two years.
The Los Angeles Times cited estimates of $1 billion spent testing electric vertical takeoff and landing aircraft, known as eVTOL, just last year, and noted the "hundreds of companies competing" to build a new "transportation empire." And their opening paragraph paints the scene: Imagine avoiding that soul-crushing, hourlong slog — say from Santa Monica to downtown L.A. on a Tuesday morning. Instead, you hail a high-tech cab that will hop over the gridlock and get you there in nine minutes.... The promise of flying cars — for generations a Hollywood staple of a space-age future, from "The Jetsons" to "Blade Runner" — is finally becoming a reality, so much so that a Swedish company is already selling a single-passenger vehicle called Jetson 1. Los Angeles transportation officials are preparing for this new era and expect drone-like electric air taxis to be operational by the time the 2028 Summer Olympics roll around, if not far sooner....

While many detractors doubt that such travel will soon be viable, affordable or safe, the industry is working with cities to make the technology a reality in the next five years.
The Observer also noted that another eVTOL pioneer, Germany's Volocopter, plans to launch commercial service for its two-seat VoloCity aircraft in 2024 in Europe, with a four-seater by 2026. But are there possible downsides? In cities like New York, wealthy commuters are already taking helicopter rides on a regular basis, and complaints about helicopter noise have skyrocketed in recent years, prompting the city to introduce a bill last week to ban non-essential helicopter uses, such as sightseeing and short-distance travel, in parts of Manhattan.

eVTOLs are quieter than helicopters by design, but they are by no means silent.
Even the Los Angeles Times acknowledges "There are concerns about safety, quality of life and affordability." While a single air taxi may be relatively quiet, what happens when there is a constant stream of them coming in and out of a landing spot? Should there be nighttime restrictions on flights? Will this just be a means for the ultra-wealthy to buzz over poor neighborhoods to Dodger Stadium or Crypto.com Arena?
But the Times' article still drew angry letters to the editor, with one calling air taxis "a disaster waiting to happen." Instead of boosterism reporting and parroting industry marketing claims that these aircraft are some kind of a godsend, how about reporting on how many decibels these flying bubbles for the elite will blare onto the plebes below...? [T]he paper's naive reporting on the technology are disappointing.
They'd also called the Times' claim of $50-a-flight prices "fanciful" — and a second letter writer also expressed skepticism about that low estimated cost. "That reminds one of the outlandish initial promise we were given that the bullet train would cost $33 billion to build."

Bloomberg writes that the makers of the Robinhood app "faced a more dire situation during the height of last year's meme-stock frenzy than executives at the online brokerage let on publicly, according to a report from top Democrats on a key congressional committee." A more-than-yearlong investigation by staff on the House Financial Services Committee concluded Friday that the frenzied trading in GameStop Corp. and AMC Entertainment Holdings Inc. posed a significant threat to the online brokerage. Robinhood avoided defaulting on its regulatory collateral obligations in late January 2021 only because it received a waiver from its clearinghouse, according to the findings... "The company was only saved from defaulting on its daily collateral deposit requirement by a discretionary and unexplained waiver," according to the report. "Robinhood's risk-management processes did not work well to predict and avert the risk of default that materialized...."

The 138-page document released on Friday provides the most detailed look yet at how alarmed Robinhood executives grew over the situation in late January 2021. According to the findings, those actions didn't match the firm's public assertions.

America's Securities and Exchange Commission "is considering broad changes to curb the frenetic trading of stocks based on social media activity," reports Reuters: The proposed overhaul would be the biggest change to Wall Street's rules since 2005 and would affect nearly every corner of the market, from commission-free brokerages to market makers and exchanges. The U.S. House Committee on Financial Services on Friday called for the SEC, along with other regulators, to do more to protect the markets from similar events....

The U.S. House Financial Services Committee on Friday urged Congress to adopt legislation mandating the SEC study how its rules need to change to address new technological developments, such as digital engagement practices and social media-driven market activity.

Mark Zuckerberg's intense focus on the metaverse has replaced securing elections as the Meta CEO's top concern, four Meta employees with knowledge of the situation told The New York Times. From a report: Zuckerberg has been public with his desire to transform Meta -- formerly known as Facebook -- into a metaverse company, ploughing billions of dollars into developing metaverse technology.

The New York Times reports Meta's core election team has shrunk significantly since 2020. With the US midterms approaching, a reduced election team at Meta could mean less enforcement against misinformation. Whereas it used to comprise over 300 people, now 60 people spend their time focused on election security and some additional employees divide their time between elections and other projects, sources told The Times.

Belief in God among Americans dipped to a new low, Gallup's latest poll shows. While the majority of adults in the U.S. believe in God, belief has dropped to 81% -- the lowest ever recorded by Gallup -- and is down from 87% in 2017. From a report: Between 1944 and 2011, more than 90% of Americans believed in God, Gallup reported. Younger, liberal Americans are the least likely to believe in God, according to Gallup's May 2-22 values and beliefs poll results released Friday. Political conservatives and married adults had little change when comparing 2022 data to an average of polls from 2013 to 2017. The groups with the largest declines are liberals (62% of whom believe in God), young adults (68%) and Democrats (72%), while belief in God is highest among conservatives (94%) and Republicans (92%). The poll also found that slightly more than half of conservatives and Republicans say they believe God hears prayers and can intervene, as well as 32% of Democrats, 25% of liberals and 30% of young adults.

The Los Angeles Times reports on "a massive surge of criminal fraud that has been pummeling crypto users with unknown billions of dollars in losses with little relief in sight." The growth in crypto fraud has turned exponential in recent years. The reported losses from crypto scams in 2021 were 60 times larger than in 2018, the Federal Trade Commission reported earlier this month, with crypto now accounting for 1 out of every 4 dollars lost to fraud in the reports monitored by the agency. Over 46,000 people lost more than $1 billion in crypto to scams since 2021, but the real sum of losses is likely vastly larger because most frauds are not reported, the agency said.... "Since 2021, $575 million of all crypto fraud losses reported to the FTC were about bogus investment opportunities, far more than any other fraud type," the agency reported.

Financial losses specifically from NFT crimes just through May this year were already more than 600% higher than for all of 2021, with the space seeing twice as many hacks and bigger and bigger heists, according to analysis from digital privacy firm Top10VPN.

For many victims, there's little hope of getting their lost art back. The marketplaces where NFTs get sold — crypto exchanges — can't cancel or reverse fraudulent transactions the way a traditional bank or credit card company might; the whole point of crypto was to cut out these sorts of financial middlemen, which many crypto fans greatly distrust. Crypto technology was built out of a "libertarian ethos" in which "there's no nanny state that's going to take care of you," said Jeremy Goldman, an intellectual property attorney who specializes in legal issues involving crypto assets. "These are the consequences when there's a mistake ... there's no one to unwind it, you can't call customer service, you can't go back to the mothership, you can't go back to the bank."

But at the same time, law enforcement agencies in the U.S. have also shown a growing willingness and ability to mount sophisticated investigations into crypto fraud.... [I]n March, federal agents sought a court order to seize roughly $165,000 worth of Ethereum in a digital Binance.US wallet. Officials said the cryptocurrency had been stolen from an Orange County investor, nicknamed "P.M.," who got tricked into giving up his coins by an fraudster pretending to be a Coinbase technical support representative.
On the bright side, BuzzFeed notes that actor Seth Green has recovered his prized Bored Ape NFT from "Mr Cheese" for $297,000 worth of Ether.

But the Los Angeles Times points out that another victim of a Bored Ape heist has sued the creators of Bored Apes. Their lawyer argues the company "refuses to police their own community. They're the gatekeepers, they can lock out the thieves if they wanted to, and they won't do it."