The Matrix

Is 'The Matrix Resurrections' a Critique of the Tech Industry - or Society? (politico.com) 187

When The Matrix Resurrections premiered in San Francisco, the city's mayor "celebrated the appearance of her fair city in the film and cheered the film's economic contributions to the region," reports SFGate. "But there's a problem of aesthetics at play here... It is undeniably a dystopian hellscape where police rule the city and technology looms over all..." In the first section of the movie, the metaphor of the Matrix mirrors that of the tech industry depicted in the film. Tech is stereotypical here — lots of T-shirt-wearing men playing ping-pong and talking about how to design the next great video game. The most annoying character in the film, Jude (Andrew Caldwell), is a proxy for all annoying tech bros...
Meanwhile Politico writes that the original 1999 film The Matrix actually "changed politics, almost entirely by mistake," and calls the new Matrix Resurections "a sophisticated self-critique of the culture that swallowed it." In the past two decades, the idea of a "red pill" has taken on a life of its own in American culture, most prominently at first in an infamous misogynist subreddit, and then more broadly as a symbol of any kind of political awakening, almost always on the right. The idea has proliferated wildly throughout politics, and especially the darkest ideological corners of the internet, in which to be "red-pilled" means to realize that American society has been hopelessly debased by liberals, requiring a total rethink of its premises... Hugo Weaving, who memorably portrayed the original films' villain, lamented in a 2020 interview how people "will take something that they think is cool and they will repurpose it to fit themselves when the original intention or meaning of that thing was quite the opposite...." [T]he Wachowskis have been largely silent about the "meaning" of their creation — a movie franchise that not only became a ubiquitous cultural phenomenon, but predicted the cultural tenor of politics in the digital age with an eerie, oracular accuracy. We know they got it right, but what did they think about it?

Wednesday saw the release of "The Matrix Resurrections," a long-delayed sequel from one of the original writer/directors (Lana directed; Lilly sat it out) — and also an answer to that question. As a movie, it's everything its predecessors was, an impressive feat of visual-effects artistry, action choreography and original sci-fi worldbuilding. But even more, it's a two hour and 27-minute-long piece of cultural criticism. The film interrogates, to a jarringly specific degree, not just its own iconography, but how American culture has evolved around and bastardized it over the past two decades. "The Matrix Resurrections" is both wildly successful popcorn entertainment and a window into a long-misunderstood creative mind. But in refitting its entire premise to the social media age, it illustrates just how much the contours of American society have changed in the intervening decades....

The original "Matrix" was deeply of its time. Reeves' Neo a was a quintessential late 1990s corporate drone, captive to the professional ennui also depicted in films of the era like "Fight Club" and "Office Space." Its modern incarnation is a cry of protest against something else: society's willingness to trade individual agency for the neurological reward pellets of the Online. Visual metaphors abound, with Reeves disoriented by a procession of mirrors that serve as gateways to another world, another possible truth. "Your brain is hooked on this shit the Matrix has been feeding you for years," one character tells him. "They don't know you like I do.

"I know exactly what you need...."

The movie is streaming now on HBOMax for subscribers in their $15 ad-free tier — but, like, Dune, only during its 31-day theatrical run.
News

Germany Is Closing Half of Its Reactors at Worst Possible Time (yahoo.com) 220

Germany is set to close almost half of its nuclear power capacity before the end of the year, putting further strain on European grids already coping with one of the worst energy crunches in the region's history. From a report: The shutdowns of Grohnde, Gundremmingen C and Brokdorf -- part of the country's nuclear phaseout -- will leave just three atomic plants, which will be taken offline by the end of 2022. Beyond the squeeze on supply, the closures remove a key source of low-carbon power in a nation where emissions are on the rise. After the 2011 Fukushima disaster, Germany vowed to ditch all of its reactors. At the time, the country was a leader in renewables, but the phaseout has left it more reliant on coal and lignite for electricity generation. The nation fell behind in the net-zero race after making major concessions to the coal lobby, to protesters against wind farms and to manufacturers, particularly carmakers.

"From a pure emissions perspective, it was always a questionable idea to shut down German nuclear before the plants have reached the end of their lifetime," said Hanns Koenig, head of commissioned projects at Aurora Energy Research. "It was always clear that the nuclear phaseout would need coal and gas plants to run more and therefore cause substantial extra emissions." Atomic plants are designed to generate power around the clock, providing valuable backup when the wind doesn't blow or the sun doesn't shine. While the shutdowns have been known about for years and are unlikely to cause a spike in prices, the removal of 4 gigawatts of baseload output highlights a dwindling reserve of buffer capacity in Germany. It's one reason why prices are higher next year: electricity for delivery in 2022 has jumped more than fivefold this year.

Government

FAA: No More Astronaut Wings For Future Commercial Space Tourists (yahoo.com) 44

"The Federal Aviation Administration said on Friday that it was ending a program that awarded small gold pins called 'Commercial Space Astronaut Wings' to certain people who flew to space on private spacecraft," reports the New York Times. (Alternate URL here.) But before the program officially retires in January, all who applied for the gold wings after flying to space this year will still receive them, the agency said.

That means Mr. Bezos, the billionaire founder of Amazon who rode a rocket with his space company, Blue Origin, to the edge of space in July, will be considered a commercial astronaut. So will Richard Branson, the founder of the space tourism firm Virgin Galactic who flew his own company's rocket plane to space in the same month. William Shatner, the Star Trek star who flew with Blue Origin to the edge of space in October, will also receive astronaut wings to go with his Starfleet paraphernalia. Twelve other people were also added to the federal agency's list of wing recipients on Friday [bringing the list up to 30 people].

The changes will help the F.A.A. avoid the potentially awkward position of proclaiming that some space tourists are only passengers, not astronauts.

The Commercial Space Astronaut Wings Program was created by Patti Grace Smith, the first chief of the F.A.A.'s commercial space office, to promote the private development of human spaceflight — a mandate from a 1984 law that aimed to accelerate innovation of space vehicles. The program began handing out pins to qualified individuals in 2004, when Mike Melvill, a test pilot who flew the Scaled Composites SpaceShipOne plane, became its first recipient. To qualify for the commercial astronaut wings under the original guidelines, a person had to reach an altitude of at least 50 miles, the marker of space recognized by NASA and the U.S. Air Force, and be a member of the spacecraft's "flight crew..."

Although no one will receive the little gold pins after 2021, those who fly above 50 miles on an F.A.A.-licensed rocket will be honored in the agency's online database.

But future space tourists should not despair a lack of post-flight flair. Virgin Galactic, Blue Origin and SpaceX have each presented paying and guest passengers with custom-designed wings.

Or, as the Associated Press put it, "The FAA said Friday it's clipping its astronaut wings because too many people are now launching into space and it's getting out of the astronaut designation business entirely...." "The U.S. commercial human spaceflight industry has come a long way from conducting test flights to launching paying customers into space," the FAA's associate administrator Wayne Monteith said in a statement. "Now it's time to offer recognition to a larger group of adventurers daring to go to space."
Thanks to long-time Slashdot reader schwit1 for submitting the story.
Social Networks

What's Behind the 'Birds Aren't Real' Protests? (yahoo.com) 169

It's not your everyday fake news, explains the New York Times. (Alternate URLs here.) In Pittsburgh; Memphis, Tennessee; and Los Angeles, massive billboards recently popped up declaring, "Birds Aren't Real." On Instagram and TikTok, Birds Aren't Real accounts have racked up hundreds of thousands of followers, and YouTube videos about it have gone viral. Last month, Birds Aren't Real adherents even protested outside Twitter's headquarters in San Francisco to demand that the company change its bird logo.

The events were all connected by a Gen Z-fueled conspiracy theory, which posits that birds do not exist and are really drone replicas installed by the U.S. government to spy on Americans. Hundreds of thousands of young people have joined the movement, wearing Birds Aren't Real T-shirts, swarming rallies and spreading the slogan. It might smack of QAnon, the conspiracy theory that the world is controlled by an elite cabal of child-trafficking Democrats. Except that the creator of Birds Aren't Real and the movement's followers are in on a joke: They know that birds are, in fact, real and that their theory is made up.

What Birds Aren't Real truly is, they say, is a parody social movement with a purpose. In a post-truth world dominated by online conspiracy theories, young people have coalesced around the effort to thumb their nose at, fight and poke fun at misinformation. It is Gen Z's attempt to upend the rabbit hole with absurdism... Most Birds Aren't Real members, many of whom are part of an on-the-ground activism network called the Bird Brigade, grew up in a world overrun with misinformation. Some have relatives who have fallen victim to conspiracy theories. So for members of Gen Z, the movement has become a way to collectively grapple with those experiences. By cosplaying conspiracy theorists, they have found community and kinship [according to 23-year-old Peter McIndoe, who created Birds Aren't Real on a whim in 2017...]

Cameron Kasky, 21, an activist from Parkland, Florida, who helped organize the March for Our Lives student protest against gun violence in 2018 and is involved in Birds Aren't Real, said the parody "makes you stop for a second and laugh. In a uniquely bleak time to come of age, it doesn't hurt to have something to laugh about together."

McIndoe began selling Birds Aren't Real merchandise in 2018, according to the article, and now brings in "several thousand dollars a month" with some help from his friend Connor Gaydos.

"If anyone believes birds aren't real," Gaydos tells the Times, "we're the last of their concerns, because then there's probably no conspiracy they don't believe."
Social Networks

Those Cute Cats Online? They Help Spread Misinformation (yahoo.com) 171

"Videos and GIFs of cute animals — usually cats — have gone viral online for almost as long as the internet has been around..." writes the New York Times.

"Now, it is becoming increasingly clear how widely the old-school internet trick is being used by people and organizations peddling false information online, misinformation researchers say." The posts with the animals do not directly spread false information. But they can draw a huge audience that can be redirected to a publication or site spreading false information about election fraud, unproven coronavirus cures and other baseless conspiracy theories entirely unrelated to the videos. Sometimes, following a feed of cute animals on Facebook unknowingly signs users up as subscribers to misleading posts from the same publisher. Melissa Ryan, chief executive of Card Strategies, a consulting firm that researches disinformation, said this kind of "engagement bait" helped misinformation actors generate clicks on their pages, which can make them more prominent in users' feeds in the future. That prominence can drive a broader audience to content with inaccurate or misleading information, she said.

"The strategy works because the platforms continue to reward engagement over everything else," Ms. Ryan said, "even when that engagement comes from" publications that also publish false or misleading content.

Idle

World's Oldest Person Dies at Age 124 (cnnphilippines.com) 58

Slashdot reader ellithligraw brings the news that the oldest person on earth has died in the Philippines this week at age 124.

CNN Philippines reports: Susano was born on Sept. 11, 1897, which was before the country became independent from Spanish rule. As of September this year, Guinness World Records was still verifying the documents needed for her to be officially declared as the world's oldest living person.
NextShark calls Susano "the last surviving person born in the 19th century." And they add that, according to Manila Bulletin, "Susano has 14 children. One of them is considered a centenarian at the age of 101."
Medicine

A Stem-Cell Cure For Type 1 Diabetes? For One Man, It Seems To Have Worked (yahoo.com) 48

Long-time Slashdot reader fahrbot-bot shares the New York Times' report on a 64-year-old man who participated in a clinical trial by Vertex Pharmaceuticals involving an infusion of insulin-producing pancreas cells grown from stem cells.

"Now his body automatically controls its insulin and blood sugar levels." Mr. Shelton, now 64, may be the first person cured of the disease with a new treatment that has experts daring to hope that help may be coming for many of the 1.5 million Americans suffering from Type 1 diabetes. "It's a whole new life," Mr. Shelton said. "It's like a miracle." Diabetes experts were astonished but urged caution.

The study is continuing and will take five years, involving 17 people with severe cases of Type 1 diabetes. It is not intended as a treatment for the more common Type 2 diabetes.

"We've been looking for something like this to happen literally for decades," said Dr. Irl Hirsch, a diabetes expert at the University of Washington who was not involved in the research. He wants to see the result, not yet published in a peer-reviewed journal, replicated in many more people. He also wants to know if there will be unanticipated adverse effects and if the cells will last for a lifetime or if the treatment would have to be repeated. But, he said, "bottom line, it is an amazing result...."

For Mr. Shelton the moment of truth came a few days after the procedure, when he left the hospital. He measured his blood sugar. It was perfect. He and Ms. Shelton had a meal. His blood sugar remained in the normal range.

Mr. Shelton wept when he saw the measurement.

"The only thing I can say is 'thank you.'"

15 people in a lab spent over 20 years working on converting the stem cells, the article reports. The total cost: about $50 million.
Medicine

Booster Shots Create a 23X Increase in Protective Antibody Levels, Study Suggests (yahoo.com) 375

The Los Angeles Times summarizes the results of a new medical study conducted by Northwestern University researchers on antibody levels protecting against Covid-19 in 974 people. "Those who were immunized against COVID-19 with two doses of an mRNA vaccine and received a booster shot about eight months later saw their levels of neutralizing antibodies skyrocket.

"Among this group of 33 fully vaccinated and boosted people, the median level of these antibodies was 23 times higher one week after the booster shot than it had been just before the tune-up dose." What's more, their median post-booster antibody level was three times higher than was typical for another group of people whose antibodies were measured a few weeks after getting their second dose of vaccine, when they're close to their peak.

And it was 53 times higher than that of a group of 76 unvaccinated people who had recovered from COVID-19 just two to six weeks earlier. Even compared to a group of 73 people who had weathered a bout with COVID-19 and went on to get two doses of an mRNA vaccine, the boosted group's median antibody level was 68% higher.

Study leader Alexis Demonbreun, a cell biologist at Northwestern University's Feinberg School of Medicine, said the data demonstrate that no matter how well protected a vaccinated person may think she is, getting a booster shot is likely to increase her neutralizing antibodies — and with it, her immunity — considerably. And because scientists expect large antibody responses to create more durable immunity, the protection afforded by the booster should last longer than the initial two-shot regimen did...

Among their other findings: After receiving two doses of vaccine, people who'd already had an asymptomatic infection were typically no better protected than vaccinated people who had never been infected.

Earth

Will a 'Lithium Rush' From California's Salton Sea Fund Its Environmental Remediation? (yahoo.com) 36

There's a polluted 343-square-mile lake known as "the Salton Sea," about 150 miles southeast of Los Angeles. The Los Angeles Times calls it California's "largest and most troubled lake," after a recent visit with biogeochemist Timothy Lyons.

But is it about to experience a change of fortune? "The big problem at the Salton Sea is intermingled with that organic brown layer on top — and to be honest, it's scary," said Lyons, 63. "It's loaded with pesticides and heavy metals — molybdenum, cadmium and selenium — that linger in greatest concentrations in deeper water... That should worry people, because the Salton Sea is shrinking and exposing more and more of this stuff to scouring winds that carry them far and wide," he added. "Our goals include mapping where these hazardous materials are located, and determining where they came from and what may become of them if trends continue."

For Lyons' research team, filling blanks in existing data is an obsession, and it could have significant implications at a time when the air practically crackles with a volatile mix of environmental danger and economic opportunities promised by ongoing efforts to tap immense reserves of lithium, a key ingredient of rechargeable batteries.... Clouds of salty, alkaline toxic dust containing heavy metals, agricultural chemicals and powdery-fine particulates linked to asthma, respiratory diseases and cancer are rolling off newly exposed playa, threatening the health of thousands of nearby residents. Delays and costs are mounting for many projects that were designed to be showcases of restoration and dust mitigation. Scientists say it's because the projects were developed without consideration for heat waves, severe droughts and water cutbacks due to climate change, or for the constantly evolving underlying geology at the hyper-saline landlocked lake at the southern end of the San Andreas Fault, where shifting tectonic plates bring molten material and hot geothermal brine closer to Earth's surface.

Now, large corporations investing in proposals to suck lithium out of the brine produced by local geothermal operations have revived hopes of jobs and revenue from land leases, with lithium recovery projects potentially supporting internships, education programs and environmental restoration projects for years to come.

The Times got an interesting quote from Frank Ruiz, a program director at the nonprofit environmental group Audubon California — a man who is also a member of the Lithium Valley Commission (lawmakers and community leaders trying to help guide decisions).

"If done correctly, it will elevate the region by creating jobs, benefit the state and the nation by making geothermal energy more affordable, and lay the groundwork for negotiations aimed at ensuring that some of the royalties from lithium production and related land leases are used to support dust reduction and environmental restoration projects."

Ruiz also says that one way or another, "The lithium rush at the Salton Sea cannot be stopped."
United States

Samsung Picks Texas Site for $17 Billion Advanced US Chip Plant (yahoo.com) 75

Samsung Electronics has decided to build an advanced U.S. chip plant in Texas, a win for the Biden administration as it prioritizes supply chain security and greater semiconductor capacity on American soil. From a report: South Korea's largest company has decided on the city of Taylor, roughly 30 miles (48 kilometers) from its giant manufacturing hub in Austin, a person familiar with the matter said. Samsung and Texas officials will announce the decision Tuesday afternoon, according to people familiar with the matter, asking not to be identified because the news hasn't been made public. A Samsung representative said it hadn't made a final decision and declined further comment. Samsung is hoping to win more American clients and narrow the gap with Taiwan Semiconductor Manufacturing Co. Its decision, which came months after de facto leader Jay Y. Lee was released from prison on parole, follows plans by TSMC and Intel Corp. to spend billions on cutting-edge facilities globally. The industry triumvirate is racing to meet a post-pandemic surge in demand that has stretched global capacity to the max, while anticipating more and more connected devices from cars to homes will require chips in future. The plant will cost Samsung $17 billion to set up, according to WSJ.
Piracy

Is 'The NFT Bay' Just a Giant Hoax? (clubnft.com) 74

Recently Australian developer Geoffrey Huntley announced they'd created a 20-terabyte archive of all NFTs on the Ethereum and Solana blockchains.

But one NFT startup company now says they tried downloading the archive — and discovered most of it was zeroes. Many of the articles are careful to point out "we have not verified the contents of the torrent," because of course they couldn't. A 20TB torrent would take several days to download, necessitating a pretty beefy internet connection and more disk space to store than most people have at their disposal. We at ClubNFT fired up a massive AWS instance with 40TB of EBS disk space to attempt to download this, with a cost estimate of $10k-20k over the next month, as we saw this torrent as potentially an easy way to pre-seed our NFT storage efforts — not many people have these resources to devote to a single news story.

Fortunately, we can save you the trouble of downloading the entire torrent — all you need is about 10GB. Download the first 10GB of the torrent, plus the last block, and you can fill in all the rest with zeroes. In other words, it's empty; and no, Geoff did not actually download all the NFTs. Ironically, Geoff has archived all of the media articles about this and linked them on TheNFTBay's site, presumably to preserve an immutable record of the spread and success of his campaign — kinda like an NFT...

We were hoping this was real... [I]t is actually rather complicated to correctly download and secure the media for even a single NFT, nevermind trying to do it for every NFT ever made. This is why we were initially skeptical of Geoff's statements. But even if he had actually downloaded all the NFT media and made it available as a torrent, this would not have solved the problem... a torrent containing all the NFTs does nothing to actually make those NFTs available via IPFS, which is the network they must be present on in order for the NFTs to be visible on marketplaces and galleries....

[A]nd this is a bit in the weeds: in order to reupload an NFT's media to IPFS, you need more than just the media itself. In order to restore a file to IPFS so it can continue to be located by the original link embedded in the NFT, you must know exactly the settings used when that file was originally uploaded, and potentially even the exact version of the IPFS software used for the upload.

For these reasons and more, ClubNFT is working hard on an actual solution to ensure that everybody's NFTs can be safely secured by the collectors themselves. We look forward to providing more educational resources on these and other topics, and welcome the attention that others, like Geoff, bring to these important issues.

Their article was shared by a Slashdot reader (who is one of ClubNFT's three founders). I'd wondered suspiciously if ClubNFT was a hoax, but if this PR Newswire press release is legit, they've raised $3 million in seed funding. (And that does include an investment from Drapen Dragon, co-founded by Tim Draper which shows up on CrunchBase). The International Business Times has also covered ClubNFT, identifying it as a startup whose mission statement is "to build the next generation of NFT solutions to help collectors discover, protect, and share digital assets." Co-founder and CEO Jason Bailey said these next-generation tools are in their "discovery" phase, and one of the first set of tools that is designed to provide a backup solution for NFTs will roll out early next year. Speaking to International Business Times, Bailey said, "We are looking at early 2022 to roll out the backup solution. But between now and then we should be feeding (1,500 beta testers) valuable information about their wallets." Bailey says while doing the beta testing, he realized that there are loopholes in the NFT storage systems and only 40% of the NFTs were actually pointing to the IPFS, while 40% of them were at risk — pointing to private servers.

Here is the problem explained: NFTs are basically a collection of metadata, that define the underlying property that is owned. Just like in the world of internet documents, links point to the art and any details about it that are being stored. But links can break, or die. Many NFTs use a system called InterPlanetary File System, or IPFS, which let you find a piece of content as long as it is hosted somewhere on the IPFS network. Unlike in the world of internet domains, you don't need to own the domain to really make sure the data is safe. Explaining the problem which the backup tool will address, Bailey said, "When you upload an image to IPFS, it creates a cryptographic hash. And if someone ever stops paying to store that image on IPFS, as long as you have the original image, you can always restore it. That's why we're giving people the right to download the image.... [W]e're going to start with this protection tool solution that will allow people to click a button and download all the assets associated with their NFT collection and their wallet in the exact format that they would need it in to restore it back up to IPFS, should it ever disappear. And we're not going to charge any money for that."

The idea, he said, is that collectors should not have to trust any company; rather they can use ClubNFT's tool, whenever it becomes available, to download the files locally... "One of the things that we're doing early around that discovery process, we're building out a tool that looks in your wallet and can see who you collect, and then go a level deeper and see who they collect," Bailey said. Bailey said that the rest of the tools will process after gathering lessons based on user feedback on the first set of solutions. He, however, seemed positive that the talks of the next set of tools will begin in the Spring of next year as the company has laid a "general roadmap."

Businesses

Nvidia Eyes $1 Trillion Club Following Blowout Earnings (yahoo.com) 24

GoJays shares a report from Yahoo Finance: Nvidia's (NVDA) stock closed out the trading day Thursday with gusto, following its impressive Q3 earnings report on Wednesday. Shares of the chip maker ended the day up 8.25%, after jumping more than 10% at the open. The stock's performance comes after the company reported quarterly revenue jumped 50% year-over-year on the back of strong performances by its data center and gaming businesses in Q3.

Nvidia's data center arm has been a boon for the firm, helping to power its stock price up 124% year-over-year at the close of trading on Wednesday. And the company's earnings report only buoyed investor confidence in the business, which saw record revenue of $2.94 billion in the prior quarter, a 55% year-over-year increase. Not to be out done, Nvidia's gaming business also brought in record revenue of $3.22 billion, a 42% year-over-year increase.
Needham analysts said Nvidia could become the "first trillion dollar semiconductor company." As Bloomberg notes, $60 billion was added to the company's market capitalization on Thursday, which is near the $800 billion threshold. "Since early October, Nvidia has added nearly $300 billion in market value, about the equivalent of the market cap of Disney, Netflix or Pfizer."
China

Have Scientists Disproven Google's Quantum Supremacy Claim? (scmp.com) 35

Slashdot reader AltMachine writes: In October 2019, Google said its Sycamore processor was the first to achieve quantum supremacy by completing a task in three minutes and 20 seconds that would have taken the best classical supercomputer, IBM's Summit, 10,000 years. That claim — particularly how Google scientists arrived at the "10,000 years" conclusion — has been questioned by some researchers, but the counterclaim itself was not definitive.

Now though, in a paper to be submitted to a scientific journal for peer review, scientists at the Institute of Theoretical Physics under the Chinese Academy of Sciences said their algorithm on classical computers completed the simulation for the Sycamore quantum circuits [possibly paywalled; alternative source of the same article] "in about 15 hours using 512 graphics processing units (GPUs)" at a higher fidelity than Sycamore's. Further, the team said "if our simulation of the quantum supremacy circuits can be implemented in an upcoming exaflop supercomputer with high efficiency, in principle, the overall simulation time can be reduced to a few dozens of seconds, which is faster than Google's hardware experiments".

As China unveiled a photonic quantum computer which solved a Gaussian boson sampling problem in 200 seconds that would have taken 600 million years on classical computer, in December 2020, disproving Sycamore's claim would place China being the first country to achieve quantum supremacy.

Google

Google's Parent Company Briefly Hits $2 Trillion Valuation (theverge.com) 11

Alphabet, Google's parent company, briefly hit a market cap of $2 trillion. The Verge reports: The tech behemoth's market cap is currently at a comfortable $1.98 trillion, but crept over the $2 trillion mark midday Monday, later closing out at $2,987.03 per share. Alphabet's market cap has just about doubled from $1 trillion since January 2020. [...] Alphabet nearly joined Apple and Microsoft as one of three US-based companies that are part of the exclusive $2 trillion club.
Businesses

Peloton Joins Companies Blaming Lower Earnings on Apple's Tracking Restrictions (gizmodo.com) 74

Peloton, the makers of an internet-connected exercise bike, saw their stock price drop 35% overnight on Thursday, reports CNBC. "At least four Wall Street investment firms downgraded the stock following Peloton's dismal fiscal first-quarter financial report... Peloton's stock has fallen 63% year to date."

The company had cut its annual revenue forecast — by $1 billion — and lowered its projections for both profit margins and paying subscribers. Bloomberg reports: At best, Peloton currently expects to have 3.45 million connected fitness subscriptions by the end of the fiscal year. It had previously called for 3.63 million. And gross profit margin will be 32%, compared with an earlier forecast of 34%. All that will add up to a loss of as much as $475 million, excluding some items....

On a more upbeat note, the company hinted that it plans to launch new products in the coming weeks and months. Peloton has been working on a rowing machine and a heart-rate monitor that attaches to a wearer's arm, Bloomberg News has reported.

The article suggests Peloton's business was hurt by the end of lockdowns, supply-chain constraints, and the cost of freight. But they also point out another factor. "Like several other companies, Peloton also blamed Apple Inc.'s ad-related privacy changes, which have made it more difficult to target shoppers based on their interests." Apple's new Ad Tracking Transparency feature (or "ATT") now first asks users to deny or allow apps to track their activity for the targeted advertising which had apparently been boosting Peloton's business.

And tlhIngan (Slashdot reader #30,335) tipped us off to a larger trend, since Gizmodo reports that Peloton "isn't the only company that has pointed accusingly at Apple lately." When reporting its third quarter earnings at the end of October, Facebook (now called Meta) — which depends on targeted ads for almost 98% of its revenue — said that ATT had decreased the accuracy of its ad targeting. The feature also increased "the cost of driving outcomes" for advertisers, Facebook COO Sheryl Sandberg explained, and made it harder to measure those outcomes. "Overall, if it wasn't for Apple's iOS 14 changes, we would have seen positive quarter-over-quarter revenue growth," Sandberg said.

On Sunday, the Financial Times reported that ATT had cost Snap, Facebook, Twitter, and YouTube an estimated $9.85 billion in lost revenue in the second half of this year. That's an 87% increase year over year.

The Courts

Kleiman v. Wright: $65 Billion Bitcoin Case Has Started (yahoo.com) 77

UnknowingFool writes: The civil trial of Ira Kleiman vs. Craig Wright started on Monday in Miami. The estate of David Kleiman is suing Craig Wright, the self declared inventor of bitcoin, for 50% ownership of 1.1 million bitcoins. The estate claims Kleiman was in a partnership with Wright to mine the coins but after Kleiman died in April 2013, Wright denied any partnership. At over $60,000 each per bitcoin, this case is currently worth $65 billion.

Craig Wright has previously claimed he is the inventor of Bitcoin, Satoshi Nakamoto, which has been met with skepticism based on his inability to show any proof. In this case, Wright has made numerous dubious claims. After the case was filed in 2018, Wright claimed he did not have the keys to the coins but that they would be arriving in January 2020 through a "bonded courier." After January 2020, Wright provided keys to the estate for verification which the estate claims the bitcoins were fake. Expressing skepticism that the courier even existed, the estate asked for more information about the courier. Wright then claimed the identity of the courier and all communications were protected under attorney-client privilege as the courier was an attorney.

Yahoo!

Yahoo Pulls Out of China, Citing 'Challenging Business and Legal Environment' (variety.com) 65

Yahoo has officially exited China, shutting down all of its services in the communist country as of Monday, Nov. 1. From a report: "In recognition of the increasingly challenging business and legal environment in China, Yahoo's suite of services will no longer be accessible from mainland China as of November 1," a company spokesperson said in an emailed statement. "Yahoo remains committed to the rights of our users and a free and open internet. We thank our users for their support," the rep added. Yahoo's exit from China coincided with the enactment of the country's Personal Information Protection Law, a privacy law that went into effect Nov. 1 that imposes new data-collection restrictions on tech companies, the Wall Street Journal reported.
Earth

Brazil Pledges To End Illegal Deforestation By 2028 89

An anonymous reader quotes a report from Yahoo News: Brazil said it was raising its climate commitments on Monday at the start of the COP26 summit, including ending illegal deforestation by 2028, marking a change of tone after more than two years of soaring destruction under President Jair Bolsonaro. Speaking by live video link, Brazil's Environment minister, Joaquim Pereira Leite, said on Monday the country would cut its greenhouse gas emissions by 50% by 2030, compared with a previous commitment to reduce emissions by 43% over that period.

In a plan to meet that target presented by the Environment Ministry, Brazil moved forward by two years its existing commitment to end deforestation by 2030. That trajectory includes cutting deforestation 15% annually between 2022 and 2024, 40% in 2025 and 2026 and 50% in 2027. Deforestation hit a 12-year high in Brazil's Amazon rainforest in 2020, with preliminary government data showing a possible single-digit decline for 2021. [...] Pereira Leite also said Brazil would formalize a commitment to become "climate neutral" by 2050 during COP26, a promise first made by Bolsonaro in April.
Brazil announced some ambitious environmental promises, but as CNN points out, the country has a dismal track record. "During Bolsonaro's first year in office, in 2019, deforestation in the Amazon rose 34%. The next year, it rose another 7%, according to INPE, the government agency that monitors deforestation in the country."

Some climate activists are "urging delegates at Cop26 not to trust the 'greenwashing' promises of Jair Bolsonaro's government," reports The Guardian. They say the world "should pay more attention to the destructive policies of the recent past than vague promises about the future, which they say are aimed at securing cash."

"Nowadays Brazil has an anti-environmental policy," says Suely Vaz, a former head of the environment regulator Ibama who now works for the Climate Obsevatory. "They are paralyzing everything. Deforestation and forest fires are out of control. This must change to ensure that climate money -- which is important for our country -- can be used in very detailed, specified way."
Earth

'Ocean Cleanup' Successfully Removes 63,000 Pounds from the Great Pacific Garbage Patch (yahoo.com) 121

More than 63,000 pounds of trash — including a refrigerator — have now been removed from the Great Pacific Garbage Patch, reports USA Today: A half-mile long trash-trapping system named "Jenny" was sent out in late July to collect waste, pulling out many items that came from humans like toothbrushes, VHS tapes, golf balls, shoes and fishing gear. Jenny made nine trash extractions over the 12-week cleanup phase, with one extraction netting nearly 20,000 pounds of debris by itself.

The mountain of recovered waste arrived in British Columbia, Canada, this month, with much of it set to be recycled. But this was not a one-off initiative. In fact, it was simply a testing phase. And the cleanup team is hoping it's only the start of more to come: more equipment, more extractions and cleaner oceans.

The catalyst behind the cleaning is The Ocean Cleanup, a nonprofit trying to rid the world's oceans of plastic. Boyan Slat, who founded the organization in 2013 at the age of 18, called the most recent testing phase a success, but said there's still much to be done. The 27-year-old from the Netherlands said the group can enter a new phase of cleanup after testing eased some scalability concerns and proved that the system could accomplish what it was designed to do: collect debris... It hopes to deploy enough cleaning systems to reduce the size of the Great Pacific Garbage Patch by 50% every five years and to initiate a 90% reduction in floating ocean plastic by 2040... While Jenny tackles the garbage patch, The Ocean Cleanup will work on a larger, full-scale cleaning system set to be released in summer 2022 that expects to be the blueprint for creating a fleet of systems.

Slat projects they will need 10 full-scale systems to clean the patch at a rate of just under 20,000 tons per year, which would put the group on par to reach its goal of reducing the mass by 50% in five years.

The garbage patch now has its own page on Wikipedia, which points out that some of the plastic in the patch is over 50 years old. "The patch is believed to have increased '10-fold each decade' since 1945. Estimated to be double the size of Texas, the area contains more than 3 million tons of plastic." So it's even more amazing that "It's within the realm of possibility for the first time since the invention of plastic that we can clean up the Great Pacific Garbage Patch," Slat tells USA Today.

The group also says that 95% of the plastic it collects can be recycled. And they've already begun turning that plastic into products like sunglasses to be sold on its website.
Facebook

How Misinformation - and One Facebook Group - Threatened a Federal Investment in Montana (yahoo.com) 248

The New York Times describes a six-year grass roots effort to fund historic preservation and natural resource conservation in Montana — and how it collided with Rae Grulkowski, a 56-year-old businesswoman who had never before been involved in politics, and her very influential Facebook group: Ms. Grulkowski had just heard about a years-in-the-making effort to designate her corner of central Montana a national heritage area, celebrating its role in the story of the American West. A small pot of federal matching money was there for the taking, to help draw more visitors and preserve underfunded local tourist attractions.

Ms. Grulkowski set about blowing up that effort with everything she had.

She collected addresses from a list of voters and spent $1,300 sending a packet denouncing the proposed heritage area to 1,498 farmers and ranchers. She told them the designation would forbid landowners to build sheds, drill wells or use fertilizers and pesticides. It would alter water rights, give tourists access to private property, create a new taxation district and prohibit new septic systems and burials on private land, she said.

None of this was true.

Yet it soon became accepted as truth by enough people to persuade Montana's leading Republican figures and conservative organizations, including the farm bureau, Gov. Greg Gianforte and Senator Steve Daines, to oppose the proposal and enact a state law forbidding the federal government to create any heritage area in Montana.

It is a ban that the state has no authority to enforce.

Some comments on the episode (via the New York Times):
  • Ellen Sievert, retired historic preservation officer for Cascade County:
    "We've run into the uneducable. I don't know how we get through that."
  • Bob Kelly, the mayor of Great Falls:
    "Misinformation is the new playbook. You don't like something? Create alternative facts and figures as a way to undermine reality." (In fact, it's now become an issue in the mayor's race.)

The episode was especially distressing for Richard Ecke, who spent 38 years at the town's local newspaper until being laid off in 2016 — and is also vice chairman of the proposed heritage area's board. The Times reports that "In the paper's place, information and misinformation about the heritage area spread on Facebook and in local outlets that parroted Ms. Grulkowski."

And meanwhile, "Ms. Grulkowski now has ambitions beyond Montana. She wants to push Congress not to renew heritage areas that already exist." [There are 55 of them, in 34 different states.]

Finally the Times interviewed Ed Bandel, who'd led the Montana Farm Bureau's opposition to the Montana heritage area. When asked for his supporting evidence, "Mr. Bandel said he trusted Ms. Grulkowski."

And when asked about the argument that it in fact posed no threat to property rights, Bandel remained unconvinced. "They say, 'Don't worry, we're going to do it right. Don't worry, we'll take care of you. I think Adolf Hitler said that, too, didn't he...?"


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