IT

Gen Z Grads Are Being Fired Months After Being Hired (fortune.com) 363

"After complaining that Gen Z grads are difficult to work with for the best part of two years, bosses are no longer all talk, no action — now they're rapidly firing young workers who aren't up to scratch just months after hiring them," writes Fortune.

"According to a new report, six in 10 employers say they have already sacked some of the Gen Z workers they hired fresh out of college earlier this year." Intelligent.com, a platform dedicated to helping young professionals navigate the future of work, surveyed nearly 1,000 U.S. leaders... After experiencing a raft of problems with young new hires, one in six bosses say they're hesitant to hire college grads again. Meanwhile, one in seven bosses have admitted that they may avoid hiring them altogether next year. Three-quarters of the companies surveyed said some or all of their recent graduate hires were unsatisfactory in some way...

Employers' gripe with young people today is their lack of motivation or initiative — 50% of the leaders surveyed cited that as the reason why things didn't work out with their new hire. Bosses also pointed to Gen Z being unprofessional, unorganized and having poor communication skills as their top reasons for having to sack grads. Leaders say they have struggled with the latest generation's tangible challenges, including being late to work and meetings often, not wearing office-appropriate clothing, and using language appropriate for the workspace.

Now, more than half of hiring managers have come to the conclusion that college grads are unprepared for the world of work. Meanwhile, over 20% say they can't handle the workload.

Thanks to long-time Slashdot reader smooth wombat for sharing the article.
Television

Disney Officially Launches Password-Sharing Crackdown With Paid Sharing Program (hollywoodreporter.com) 22

Disney has officially launched its password and account-sharing crackdown, rolling out what it is calling its "paid sharing program" to users in the U.S. and in many regions around the world this week. The rollout follows the company sharing plans to crackdown on unauthorized usage on its streaming service earlier this year. From a report: The paid sharing program has a couple of options for users, per a blog post published Wednesday: People sharing an account with someone outside their household can add that person as an "Extra Member" for $6.99 per month for Disney+ Basic, or $9.99 for Disney+ Premium, both discounts to the normal retail price. Only one Extra Member will be allowed per account, and it is not available as part of the Disney Bundle. In addition, users sharing an account can also subscribe to Disney+ themselves, and can transfer an eligible profile to the new account to keep their watch history and settings. The password-cracking effort has helped Netflix boost its subscribers count in recent quarters.
Power

How California Cuts Greenhouse Gas Emissions - While Its Economy Grows (ca.gov) 197

In 2022 about 346,000 electric cars were reportedly sold in California. But the same year its greenhouse gas emissions dropped a whopping 9.3 million metric tons — the amount produced by 2.2 million gas-powered cars — lowering emissions 2.4% from the year before. "The biggest drop came from transportation, due largely to the increased use of renewable fuels," according to the state's Air Resources Board, touting a newly-released report. (And electricity sector emissions also fell by 2.6 million metric tons, or 4.1%, "even as electricity usage rose," according to The Hill — "a dichotomy that the regulators attributed to an increase in solar and wind power generation.")

So despite a growing economy, "the latest data underscores a continued trend of steady emissions decline..." according to a statement from the Board. "Between 2000 to 2022, emissions fell by 20% while California's gross domestic product increased by 78%, pointing to the effectiveness of the state's climate change and air quality programs." And the amount of carbon dioxide equivalent emitted per unit of economic output ("carbon intensity") has also dropped 55% in the last 20 years: [In 2022] the electricity sector had its lowest carbon intensity since 2000. Wind and solar now represent 30% of generation and in-state solar increased by 15% from 2021, driven by requirements under the state's Cap-and-Trade Program and Renewables Portfolio Standard. Furthermore, California increased its battery storage by 757% from 2019 through 2023, bolstering its renewable energy efforts. The storage capacity is enough to power 6.6 million homes for up to four hours.

Industrial emissions declined by 2%, also falling to the lowest level in 22 years. While refinery emissions remained essentially flat, emissions from oil and gas extraction declined, as did emissions from other fuel use, cement manufacturing, and cogeneration facilities. [The Hill says 2022's industrial emissions were 21.7% below year-2000 levels, according to the report.]

Livestock emissions, which are responsible for 70% of agriculture's greenhouse gas emissions, peaked in 2012 and once again saw reductions in 2022. The decrease is driven by the use of methane digesters funded by the California Climate Investments and incentivized by the Low Carbon Fuel Standard, which capture emissions at the source and convert them to clean fuel.

Landfill methane emissions also continued to decline in 2022. This decline can be attributed in part to the state's efforts to reduce disposal of organic waste, as well as the California Landfill Methane Regulation, which requires landfill operators to monitor and capture emissions escaping from their facilities.

One local news site calls the drop in emissions "shocking," but adds that "the trend is expected to continue. In the second quarter of 2024, 118,181 zero-emission vehicles were purchased in the state, good for about one-quarter of all new car sales."

California governor Gavin Newsom said his state "is proving that climate action goes hand-in-hand with economic growth. We've slashed carbon pollution by a whopping 20% since the turn of the century all while building the world's fifth largest economy. Cleaner air, more good jobs — that's the California way."
Programming

JavaScript, Python, Java: Redmonk's Programming Language Ranking Sees Lack of Change (redmonk.com) 30

Redmonk's latest programming language ranking (attempting to gauge "potential future adoption trends") has found evidence of "a landscape resistant to change." Outside of CSS moving down a spot and C++ moving up one, the Top 10 was unchanged. And even in the back half of the rankings, where languages tend to be less entrenched and movement is more common, only three languages moved at all... There are a few signs of languages following in TypeScript's footsteps and working their way up the path, both in the Top 20 and at the back end of the Top 100 as we'll discuss shortly, but they're the exception that proves the rule.

It's possible that we'll see more fluid usage of languages, and increased usage of code assistants would theoretically make that much more likely, but at this point it's a fairly static status quo. With that, some results of note:

- TypeScript (#6): technically TypeScript didn't move, as it was ranked sixth in our last run, but this is the first quarter in which is has been the sole occupant of that spot. CSS, in this case, dropped one place to seven leaving TypeScript just outside the Top 5. It will be interesting to see whether or not it has more momentum to expend or whether it's topped out for the time being.

- Kotlin (#14) / Scala (#14): both of these JVM-based languages jumped up a couple of spots — two spots in Scala's case and three for Kotlin. Scala's rise is notable because it had been on something of a downward trajectory from a one time high of 12th, and Kotlin's placement is a mild surprise because it had spent three consecutive runs not budging from 17, only to make the jump now. The tie here, meanwhile, is interesting because Scala's long history gives it an accretive advantage over Kotlin's more recent development, but in any case the combination is evidence of the continued staying power of the JVM.

- Objective C (#17): speaking of downward trajectories and the 17th placement on this list, Objective C's slide that began in mid-2018 continued and left the language with its lowest placement in these rankings to date at #17. That's still an enormously impressive achievement, of course, and there are dozens of languages that would trade their usage for Objective C's, but the direction of travel seems clear.

- Dart (#19) / Rust (#19): while once grouped with Kotlin as up and coming languages driven by differing incentives and trends, Dart and Rust have not been able to match the ascent of their counterpart with five straight quarters of no movement. That's not necessarily a negative; as with Objective C, these are still highly popular languages and communities, but it's worth questioning whether new momentum will arrive and from where, particularly because the communities are experiencing some friction in growing their usage.

It's important to remember Redmonk's methodology. "We extract language rankings from GitHub and Stack Overflow, and combine them for a ranking that attempts to reflect both code (GitHub) and discussion (Stack Overflow) traction. The idea is not to offer a statistically valid representation of current usage, but rather to correlate language discussion and usage in an effort to extract insights into potential future adoption trends."

Having said that, here's the current top ten in Redmonk's ranking:
  1. JavaScript
  2. Python
  3. Java
  4. PHP
  5. C#
  6. TypeScript
  7. CSS
  8. C++
  9. Ruby
  10. C

Their announcement also notes that at the other end of the list, the programming language Bicep "jumped eight spots to #78 and Zig 10 to #87. That progress pales next to Ballerina, however, which jumped from #80 to #61 this quarter. The general purpose language from WS02, thus, is added to the list of potential up and comers we're keeping an eye on."


HP

PC Giants Predict Delayed but Massive Upgrade Wave (theregister.com) 120

Dell and HP executives have acknowledged a delay in the anticipated commercial PC refresh cycle. Michael Dell, speaking at the Citi 2024 Global TMT conference, stated that the refresh cycle "has been delayed for sure." The Register adds: Without offering any reasons for postponement -- and not being pressed for one by the analyst interviewing him -- the billionaire reckoned the size of the refresh is "going to be even bigger" because of it. "So first of all we have a certain date with Windows 10 end-of-life and we're almost within a one year window of that, and as you get in that one-year window, the enterprise IT people start screwing around and saying, 'Oh, we better do something about this'," said Dell.

Enrique Lores, CEO at rival PC maker HP, who spoke at the Goldman Sachs Communacopia + Technology conference this week, agreed enterprises are also about to invest in new lines. "First of all there is a large and aging installed base on PCs. Many of these PCs were bought during COVID and now we are four [or] five years after they were bought and they will have to be replaced. "We also see an opportunity driven by the Windows 11 refresh that is only starting now... this is what is behind some of the strength that we see on the commercial side. Microsoft⦠will start discontinuing their support for the previous versions, and this always ties the replacement and upgrade," he said, adding "this is going to be driving demand in the coming quarters."

Math

Are Professional Forecasters Overconfident? (newyorkfed.org) 32

Research by the Federal Reserve Bank of New York, published on Tuesday, indicates that professional economic forecasters tend to overestimate their accuracy in long-term predictions while underestimating their short-term precision.

The study, which analyzed data from the Survey of Professional Forecasters from 1982 to 2022, revealed that for forecasts two to four quarters ahead, actual errors were two to four times greater than the forecasters' estimated uncertainty ranges for both GDP growth and inflation. In contrast, for predictions less than three months out, forecasters typically overestimated potential errors.

The study's author, Marco Del Negro, highlighted significant differences in uncertainty estimates among individual forecasters, suggesting that these findings challenge the rational expectations theory. Del Negro proposed that these discrepancies might stem from an over-reliance on varying models or priors in making longer-term forecasts.
Transportation

What's Holding Back America's Move to Electric Cars? (theverge.com) 430

"Let's get one thing out of the way," writes the Verge's transportation editor. Contrary to what you may have heard about U.S. sales of electric vehicles — sales are up. [Consumer insights company] JD Power is projecting that 1.2 million EVs will be sold in the US by the end of 2024, an increase over 1 million sold last year. That's 9 percent of total vehicles sold, which has been revised down from a previous prediction of 12 percent... Overall, an additional 35,000 battery-electric vehicles were sold in the first seven months of 2024 as compared to last year, JD Power says.

That includes hybrids and PHEVs, which I think gets at the root of the problem. Those who were expecting an even swap — battery-electric for internal combustion — didn't anticipate the popularity of hybrids in the market. If anything, hybrids are cannibalizing EV sales, giving the pure-battery electric vehicles more competition than anticipated. But in retrospect, it makes sense. What better response to "range anxiety" than a vehicle that, in a sense, operates as an electric vehicle until the battery runs out, and then switches over to gas...?

EVs are still too expensive, giving potential buyers sticker shock. According to data from Kelley Blue Book, the average transaction price for an electric car in July 2024 was $56,520. Meanwhile, the average gas-powered vehicle is selling at $48,401. There's also a depreciation problem. New research out of George Washington University finds that older EVs depreciate in value faster than conventional gas cars. Some even lost 50 percent of their resale value in a single year. The upside is that newer models with longer driving ranges are holding their value better and approaching the retention rates of many gas cars.

The charging experience is still wildly out-of-sync for most people. Either it's the single most satisfying thing about owning an EV or it's the worst. And the distinction is usually between people who live in houses and can install a home charger in their garage and those who live in an apartment building or multi-unit housing and have to rely on unreliable public chargers... But JD Power is optimistic about where that's heading, especially as public satisfaction is growing in both Level 2 and DC fast charging over two consecutive quarters. The Biden administration also continues to make massive investments in public charging, which should slowly ease the experience of public charging from "soul-sucking" to "honestly whatever."

The article concludes that the EV industry needs patience and flexibility. But more than that, it "needs to slow it down with the six-figure, luxury pickups and SUVs and start offering more low-cost compact cars and sedans."
Social Networks

How Reddit Challenges Google and Meta with Ads Based on Topics - Not User Data (yahoo.com) 47

Six months after going public, Reddit "is winning over advertisers," reports Bloomberg, "by showing that it's different than other internet platforms, which often rely on users' identities and personal information to target ads." Instead, Reddit is targeting people based on their interests, relying on the site's [100,000+] deeply detailed communities — called subreddits — to match advertisers with potential customers... Early returns on that strategy have been promising. The text-based site easily surpassed expectations in its first two earnings reports this year, disclosing strong sales and better-than-expected projected growth. The stock is up 66% from its $34 initial public offering price in March.

Beyond targeting subreddits, the company also can use specific keywords to sell what it calls conversation ads. If a Redditor in r/HydroHomies — a community about the benefits of drinking water that has more than 1.2 million users — asks for advice about a specific brand of water bottle, an ad for that exact product could appear next to that user's post. These conversation ads are the fastest-growing ad format on the platform, the company said. They also give marketers a chance to appear in subreddits where customers are already talking about them...

Despite being around for close to 20 years, Reddit only started investing heavily in its advertising business in 2018, and is now hoping that marketers and investors are ready to acknowledge the site has grown up. Executives often point to its unique form of content moderation as proof that it's a safer place for brands than other sites. Reddit largely relies on a group of more than 60,000 human moderators — users who volunteer to serve as a sort of content police — to flag or take down unsavory content. On top of that, the site has a voting system so users can rate the quality of content. "From everything we're seeing, they have a level of brand safety and content safety for advertisers that is very comparable to most other social platforms," said Jack Johnston, senior social innovation director at performance marketing agency Tinuiti, which buys ads on Meta, Pinterest, X and Reddit. "That wasn't necessarily the case a couple years ago."

Those improvements have paid dividends. Reddit recently signed new content partnerships with major sports leagues, including the NFL, NBA and MLB, and the majority of Reddit's advertising revenue comes from Fortune 500 companies. Last year, the site made close to $800 million in ad sales, and counts marquee brands like Toyota, Disney, Samsung and Ulta Beauty among its advertisers. This year, analysts expect Reddit's overall advertising business to eclipse $1.1 billion in revenue and see the company reaching $2 billion in sales as soon as 2027, according to data compiled by Bloomberg. To get there, Reddit will need to court smaller marketers, too. The company makes more than 25% of its revenue from just 10 advertisers, meaning any unexpected pullback from a key partner could have a significant impact on the company's business, said Dan Salmon, lead analyst at New Street Research. "This army of small businesses — that's the most important thing for all of those platforms, for Reddit, for Pinterest, for X," he said...

Advertisers large and small say they're already planning to spend more on Reddit in the coming quarters.

The article points out that more than 90 million people visit Reddit each day.
Transportation

Is the US Finally Getting 'All Aboard' With Electric Trains? (theverge.com) 169

For the first time, two new all-electric passenger trains are operating in the US, which is woefully behind the rest of the world in electrifying its rolling stock. The Verge: The two new trains are operated by Caltrain. California Governor Gavin Newson and House Speaker Emerita Nancy Pelosi were on hand to take the inaugural ride, which took place on Saturday. The trains were put into regular service the following day, running along the route between San Jose and San Francisco.

It's taken almost 20 years since the idea of electric trains was first proposed in California. But officials insisted the new trains will be quieter and faster than the diesel-powered trains in current operation while also providing a better experience for passengers. The two trains will be joined by 17 others that should be in service by mid-September.

[...] It shouldn't come as any shock that the US is lagging behind the rest of the world in introducing electric trains. India is on the cusp of electrifying 100 percent of its rail lines, while China is nearing three-quarters of its network. Over 57 percent of the rail system in the European Union is electric.

Intel

Intel Foundry Achieves Major Milestones (intel.com) 28

Intel has announced significant progress on its 18A process technology, with lead products successfully powering on and booting operating systems. The company's Panther Lake client processor and Clearwater Forest server chip, both built on 18A, achieved these milestones less than two quarters after tape-out. The 18A node, featuring RibbonFET gate-all-around transistors and PowerVia backside power delivery, is on track for production in 2025.

Intel released the 18A Process Design Kit 1.0 in July, enabling foundry customers to leverage these advanced technologies in their designs. "Intel is out ahead of everyone else in the industry with these innovations," Kevin O'Buckley, Intel's new head of Foundry Services stated, highlighting the node's potential to drive next-generation AI solutions. Clearwater Forest will be the industry's first mass-produced, high-performance chip combining RibbonFET, PowerVia, and Foveros Direct 3D packaging technology. It also utilizes Intel's 3-T base-die technology, showcasing the company's systems foundry approach. Intel expects its first external customer to tape out on 18A in the first half of 2025. EDA and IP partners are updating their tools to support customer designs on the new node. The success of 18A is crucial for Intel's ambitions to regain process leadership and grow its foundry business.
Space

Venus May Be Able To Support Life, New Atmospheric Evidence Suggests (space.com) 42

New preliminary evidence for phosphine and ammonia in Venus's atmosphere deepens the mystery of their origins, suggesting the possibility of a biological source. The detections, made using the James Clerk Maxwell Telescope and the Green Bank Telescope, point to potential microbial life in Venus's clouds despite the planet's extreme surface conditions. Space.com reports: The new detections of phosphine and ammonia were obtained by a team led by Jane Greaves of the University of Cardiff using submillimeter radio wavelength data collected by the James Clerk Maxwell Telescope (JCMT) in Hawaii and the Green Bank Telescope in West Virginia. "We don't know how you make phosphine or ammonia in an oxygenating atmosphere like that of Venus," said team member and astrophysicist Dave Clements of Imperial College, London, in an interview with Space.com. Then again, it's not clear why biology on Earth produces phosphine, either." Whether it's in penguin poop or badger guts, we don't know why bacteria make phosphine, but they do."

The JCMT's initial detection of phosphine on Venus in 2020 by Greaves and her team was met by fierce disagreement from some quarters. This disagreement focused on how the data was processed and whether that was creating spurious signals since observations by other telescopes struggled to detect the phosphine. Clements said those technical disagreements have now been resolved and that the latest measurements, using a new detector on the JCMT called Namakanui (meaning 'Big Eyes' in Hawaiian), have come from three observing campaigns, each providing 140 times as much data as the initial detection. [...]

Clements is open to the possibility that both phosphine and ammonia are being produced by some rare photochemistry in Venus' upper atmosphere involving solar ultraviolet breaking up molecules and allowing phosphine and ammonia to form from the molecular debris. If that is the case, nobody has observed this process yet, not even in the laboratory. Another possibility that has been mooted is that the phosphine could be produced by Venusian volcanoes. Clements also pointed out that the European Space Agency's Jupiter Icy Moons Explorer (JUICE) is making a fly-by of Venus in August 2025 to help slingshot it towards the Jovian system. JUICE carries instruments capable of detecting phosphine and ammonia, but there's no guarantee that its instruments will be switched on and deployed at Venus.

Businesses

Bungie CEO Faces Backlash After Announcing 220 Employees Will Be Laid Off (techspot.com) 39

Rob Thubron reports via TechSpot: It's a sad case of another day, another round of mass layoffs at a game studio. On this occasion, Destiny developer Bungie has announced it is letting go of 220 employees, or 17% of its workforce. CEO Pete Parsons said the eliminations were due to "financial challenges," which isn't going down well, especially after it was discovered he may have spent over $2.4 million on classic cars after Sony acquired the company, and continued buying them even after the previous layoffs. Bungie blames the job eliminations on "rising costs of development and industry shifts as well as enduring economic conditions." The Sony subsidiary says it needs to make substantial changes to its cost structure and focus development efforts entirely on Destiny and Marathon. The cuts will impact every level of the company, including executives and senior leader roles -- but not Parsons, obviously.

In what appears to be a way of reducing the number of people being laid off, Bungie is moving 155 people to Sony Interactive Entertainment over the next few quarters. Furthermore, a team working on one of Bungie's incubation projects -- an action game set in a brand-new science-fantasy universe -- will be spun off to form a new studio within PlayStation Studios. [...] "This is hitting people who were told they were valued. That they were important. That they were critical to business success. But none of that mattered," wrote Bungie technical UX designer Ash Duong.

Many have called for Parsons to resign. The calls were amplified when he set his X account to private, but it seems the CEO realized that was making things worse and soon set it to public again. What's angering people even further is the discovery of what seems to be Parsons' account on a car bidding site called Bring a Trailer. It shows he has spent $2.4 million on classic cars since September 2022, which includes $500,000 since the October layoffs.

XBox (Games)

Xbox Console Sales Continue To Crater With Massive 42% Revenue Drop (arstechnica.com) 60

An anonymous reader quotes a report from Ars Technica: Microsoft's revenue from Xbox console sales was down a whopping 42 percent on a year-over-year basis for the quarter ending in June, the company announced in its latest earnings report. The massive drop continues a long, pronounced slide for sales of Microsoft's gaming hardware—the Xbox line has now shown year-over-year declines in hardware sales revenue in six of the last seven calendar quarters (and seven of the last nine). And Microsoft CFO Amy Hood told investors in a follow-up call (as reported by GamesIndustry.biz) to expect hardware sales to decline yet again in the coming fiscal quarter, which ends in September. The 42 percent drop for quarterly hardware revenue -- by far the largest such drop since the introduction of the Xbox Series X/S in 2020 -- follows an 11 percent year-over-year decline in the second calendar quarter of 2023.

Microsoft no longer shares raw console shipment numbers like its competitors, so we don't know how many Xbox consoles are selling on an absolute basis. But industry analyst Daniel Ahmad estimates that Microsoft sold less than 900,000 Xbox units for the quarter ending in March, compared to 4.5 million PS5 units shipped in the same period. Overall, the reported revenue numbers suggest that sales of the Xbox Series X/S line peaked sometime in 2022, during the console's second full year on store shelves. That's extremely rare for a market where sales for successful console hardware usually see a peak in the fourth or fifth year on the market before a slow decline in the run-up to a successor. [...] Aside from hardware sales, Microsoft's gaming content and services revenue was up a healthy-sounding 61 percent year-over-year for the latest reported quarter. But a full 58 percent of that increase was the "net impact from the Activision acquisition," which you may remember cost the company $68.7 billion dollars.

Java

Oracle's Java Pricing Brews Bitter Taste, Subscribers Spill Over To OpenJDK (theregister.com) 49

Lindsay Clark reports via The Register: Only 14 percent of Oracle Java subscribers plan to stay on Big Red's runtime environment, according to a study following the introduction of an employee-based subscription model. At the same time, 36 percent of the 663 Java users questioned said they had already moved to the employee-based pricing model introduced in January 2023. Shortly after the new model was implemented, experts warned that it would create a significant price hike for users adopting it. By July, global tech research company Gartner was forecasting that those on the new subscription package would face between two and five times the costs compared with the previous usage-based model.

As such, among the 86 percent of respondents using Oracle Java SE who are currently moving or plan to move all or some of their Java applications off Oracle environments, 53 percent said the Oracle environment was too expensive, according to the study carried out by independent market research firm Dimensional Research. Forty-seven percent said the reason for moving was a preference for open source, and 38 percent said it was because of uncertainty created by ongoing changes in pricing, licensing, and support. [...]

To support OpenJDK applications in production, 46 percent chose a paid-for platform such as Belsoft Liberica, IBM Semeru, or Azul Platform Core; 45 percent chose a free supported platform such as Amazon Corretto or Microsoft Build of OpenJDK; and 37 percent chose a free, unsupported platform. Of the users who have already moved to OpenJDK, 25 percent said Oracle had been significantly more expensive, while 41 percent said Big Red's licensing had made it somewhat more expensive than the alternative. The survey found three-quarters of Java migrations were completed within a year, 23 percent within three months.

Businesses

CrowdStrike Stock Tanks 15%, Set For Worst Day Since 2022 (forbes.com) 81

Shares of cybersecurity company CrowdStrike Holdings dropped 15% on Friday after the company's software update resulted in what may turn out to be the largest IT outage ever. CrowdStrike stock "is on pace for its steepest daily loss since November 2022 and its $290 low share price is the lowest intraday mark since April 25," reports Forbes. "CrowdStrike is on track for the third-worst day in its five-year history as a publicly traded company." From the report: Microsoft, which was swept up in the outage as the downed systems are those running CrowdStrike's cybersecurity applications and Microsoft's Windows software, also slumped, with its shares down about 1% to the $3.2 trillion behemoth's lowest share price since June 11. CrowdStrike competitor Palo Alto Networks enjoyed a 4% rally Friday, while the tech-heavy Nasdaq Composite stock index gained about 0.2%, held up by the likes of Microsoft rival Apple's 1% stock gain and a 1% rise for shares of Alphabet, which is reportedly in talks to buy cybersecurity firm Wiz for $23 billion.

The CrowdStrike selloff is "an overreaction to a temporary setback," Rosenblatt analyst Catharine Trebnick wrote in a note to clients Friday. It's a "compelling buying opportunity" as it "creates a window for investors to buy into a high-quality, growth-oriented cybersecurity company at a discounted valuation," Trebnick continued. To her point, CrowdStrike stock's relative valuation, according to its price-to-earnings ratio (P/E), which compares its market value to its projected profits over the next four quarters, fell Friday to its lowest number since April. Still, CrowdStrike's P/E of about 70 is very high for a company of its size, meaning investors will need to express significant confidence in the business' ability to grow earnings, a challenge if Friday's incident were to impact CrowdStrike's client base.

Transportation

Battery Maker SK On Declares 'Emergency' As EV Sales Disappoint (archive.md) 151

"A leading South Korean producer of electric vehicle batteries has declared itself in crisis," reports the Financial Times, "as its customers struggle with disappointing EV sales in Europe and the US." SK On, the world's fourth-largest EV battery maker behind Chinese giants CATL and BYD and South Korean rival LG Energy Solution, has recorded losses for 10 consecutive quarters since being spun off by its parent company in 2021. Its net debt has increased more than fivefold, from Won2.9tn ($2.1bn) to Won15.6tn over the same period, as western EV sales have fallen far short of its expectations. With losses snowballing, chief executive Lee Seok-hee announced a series of cost-cutting and working practice measures last Monday, describing them as a state of "emergency management".

"We have our back against the wall," Lee wrote in a letter to employees. "We should all pull together."

[...] Tim Bush, a Seoul-based battery analyst at UBS, said the South Korean battery makers had been "badly let down" by US car manufacturers, which he said had failed to produce EVs sufficiently attractive to mass market consumers to meet their own bullish sales projections. He noted that until as recently as last year, General Motors was forecasting it would sell 1 million EVs in 2025. It sold just 21,930 in the second quarter of this year.

Bush tells the Financial Times that "the automakers didn't invest enough in producing high-quality affordable EVs." But he also tells the newspaper that a transition to EVs is still "inevitable".

"As long as the wider SK Group continues to see SK On as a trophy asset and gives it the support it needs to weather the present storm, then its long-term future is likely to be assured."

Thanks to long-time Slashdot reader schwit1 for sharing the article.
Businesses

Redbox Owner Chicken Soup For the Soul Files For Chapter 11 Bankruptcy Protection (apnews.com) 26

Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection after months of financial struggles and piling unpaid bills. The Associated Press reports: Chicken Soup for the Soul has accumulated nearly $1 billion in debt, the Chapter 11 filing submitted Friday in Delaware bankruptcy court shows, after reporting loss after loss over recent quarters. The filing also discloses that Chicken Soup for the Soul owes millions to over 500 creditors -- which range from big names in the entertainment world like Sony Pictures and Warner Bros, to major retailers like Walgreens and Walmart. As of March of this year, Friday's filing shows, Chicken Soup for the Soul had about $414 million in assets and $970 million in debts. Shares for the public company have fallen more than 90% over the last year. "Redbox, founded in 2002, is best known for red-colored, self-serve machines that sit outside of pharmacies or groceries stores to rent or sell DVDs," notes the report. It was acquired by Chicken Soup for the Soul in 2022. There are currently about 27,000 Redbox kiosks across the U.S. -- down from 36,000 at the Redbox acquisition was finalized in August 2022.
Space

Virgin Galactic Completes Final 'Space Tourists and Research' Flight Before Two-Year Pause (space.com) 12

"Virgin Galactic launched six people to suborbital space on Saturday, launching a Turkish astronaut and three space tourists," reports Space.com, "on what was the final voyage of the VSS Unity space plane." Unity, attached to the belly of its carrier plane Eve, took off from runway at Spaceport America in New Mexico at 10:31 a.m. EDT (1431 GMT) and carried to an altitude of 44,562 feet (13,582 meters) over the next hour, where it was dropped and ignited its rocket engine to carry two pilots and four passengers to space and back. The mission, called Galactic 07, reached an altitude of 54.4 miles (87.5 km) and marked the seventh commercial spaceflight by Virgin Galactic on Unity, which is being retired to make way for the company's new "Delta" class of spacecraft rolling out in 2026.

"I will need much more time to try and process what just happened," Tuva Atasever, the Turkish Space Agency astronaut on the flight, said in a post-flight press conference, adding that the view of Earth was indescribable. "It's not something you can describe with adjectives. It's an experiential thing ... you just feel it in your gut."

One of the space tourists was a principal propulsion engineer at SpaceX, who wore the flags of the U.S. and India on his spacesuit to honor both his home country and that of his parents. The other two were a New York-based real estate developer and a London-based hotel and resort investment strategy advisor.

The flight landed 70 minutes later at 11:41 a.m. EDT (1541 GMT), according to the article, "marking only its seventh commercial spaceflight for Virgin Galactic and 12th crewed spaceflight overall." In all, Virgin Galactic flew the space plane just 32 times, including non-space test flights... "This vehicle was revolutionary," Virgin Galactic president Mike Moses said in the post-launch press conference. "We tested it, we flew it, we demonstrated and prove to the world that commercial human spaceflight is possible with private funding for private companies... Seven commercial space flights, a single vehicle flying six times in six months last year, that's groundbreaking," Moses said. "The fact that we can take this vehicle back to back to back on a monthly basis is is really revolutionary."

The new Delta class of spacecraft will be able to fly at least twice a week, about eight times the rate of SpaceShipTwo, with Virgin Galactic planning to build at least two to start its new fleet. "We're going to field in 2026 two spaceships, our mothership Eve, that's 750 astronauts a year going to space," Moses said of the new fleet's flight capacity. "That's more than have gotten to space in the 60 year history of spaceflight to date...."

Since 2018, Virgin Galactic has flown payloads as part of NASA's Flight Opportunities program and most recently was selected to be a contracted flight provider for NASA for the next five years.

Phys.org reports that with the Delta-class rockets, "The future of the company is at stake as it seeks at long last to get into the black. Virgin is burning through cash, losing more than $100 million in each of the past two quarters, with its reserves standing at $867 million at the end of March." It also laid off 185 people, or 18 percent of its workforce, late last year. Its shares are currently trading at 85 cents, down from $55 in 2021, the year Branson himself flew, garnering global headlines.
Saturday's flight also became "a suborbital science lab" for microgravity research, according to a statement from the company. Phys.org reports that during the flight, astronaut Atasever "wore custom headgear with brain activity monitoring sensors to collect physiological data, a dosimeter, and two commercially available insulin pens to examine the ability to administer accurate insulin doses in microgravity, Virgin said in a statement." And Virgin Galactic said their flight also carried "rack-mounted" autonomous payloads from both Purdue ("to study propellant slosh in fuel tanks of maneuvering spacecraf") and U.C. Berkeley ("testing a new type of 3D printing"), as well as "multiple human-tended experiments." "Discovery and innovation are central to our mission at Virgin Galactic," said Michael Colglazier, CEO of Virgin Galactic. "We're excited to build on our successful record of facilitating scientific experiments in suborbital space, and we look forward to continuing to expand our role in suborbital research going forward."
Transportation

EVs More Likely To Hit Pedestrians Than Petrol Vehicles, Study Finds (theguardian.com) 287

Hybrid and electric cars are more likely to hit pedestrians than petrol or diesel vehicles, due to their quieter engines that make them harder for pedestrians to hear. Other contributing factors include the tendency for drivers of electric cars to be younger and less experienced, and the vehicles' heavier weight and swift acceleration, increasing stopping distances. The Guardian reports: Data from 32 billion miles of battery-powered car travel and 3 trillion miles of petrol and diesel car trips showed that mile-for-mile electric and hybrid cars were twice as likely to hit pedestrians than fossil fuel-powered cars, and three times more likely to do so in urban areas. "Electric cars are a hazard to pedestrians because they are less likely to be heard than petrol or diesel cars," said Phil Edwards, first author on the study and professor of epidemiology and statistics at the London School of Hygiene & Tropical Medicine. "The government needs to mitigate these risks if they are going to phase out the sale of petrol and diesel cars." "If you're moving to an electric car, remember it's a new kind of vehicle," Edwards added. "They are much quieter than the old-fashioned cars, and pedestrians have learned to navigate roads by listening for traffic. Drivers of these vehicles need to be extra cautious."

Most vehicles on the road are petrol or diesel and these were involved in three-quarters of pedestrian collisions. But for the same distance travelled, battery-powered cars were more dangerous. The average annual pedestrian casualty rate per 100m miles travelled was 5.16 for electric and hybrid cars compared with 2.4 for petrol and diesel cars, according to the study in the Journal of Epidemiology and Community Health. In rural settings, battery-powered cars were no more dangerous than petrol or diesel, but in towns and cities they were three times more likely to collide with pedestrians, the researchers found. Since July 2019, all new hybrid and electric vehicles sold in Europe have been required to have an acoustic vehicle alerting system that emits sound when the car is travelling slowly, but there are hundreds of thousands of electric cars on the road without the devices. "If government made sure these systems were installed in all electric vehicles and retrofitted them to older electric cars, that would be a good start," Edwards said, adding that the Green Cross Code also "probably needs updating."

Science

Revolutionary Genetics Research Shows RNA May Rule Our Genome (scientificamerican.com) 80

Philip Ball reports via Scientific American: Thomas Gingeras did not intend to upend basic ideas about how the human body works. In 2012 the geneticist, now at Cold Spring Harbor Laboratory in New York State, was one of a few hundred colleagues who were simply trying to put together a compendium of human DNA functions. Their Âproject was called ENCODE, for the Encyclopedia of DNA Elements. About a decade earlier almost all of the three billion DNA building blocks that make up the human genome had been identified. Gingeras and the other ENCODE scientists were trying to figure out what all that DNA did. The assumption made by most biologists at that time was that most of it didn't do much. The early genome mappers estimated that perhaps 1 to 2 percent of our DNA consisted of genes as classically defined: stretches of the genome that coded for proteins, the workhorses of the human body that carry oxygen to different organs, build heart muscles and brain cells, and do just about everything else people need to stay alive. Making proteins was thought to be the genome's primary job. Genes do this by putting manufacturing instructions into messenger molecules called mRNAs, which in turn travel to a cell's protein-making machinery. As for the rest of the genome's DNA? The "protein-coding regions," Gingeras says, were supposedly "surrounded by oceans of biologically functionless sequences." In other words, it was mostly junk DNA.

So it came as rather a shock when, in several 2012 papers in Nature, he and the rest of the ENCODE team reported that at one time or another, at least 75 percent of the genome gets transcribed into RNAs. The ENCODE work, using techniques that could map RNA activity happening along genome sections, had begun in 2003 and came up with preliminary results in 2007. But not until five years later did the extent of all this transcription become clear. If only 1 to 2 percent of this RNA was encoding proteins, what was the rest for? Some of it, scientists knew, carried out crucial tasks such as turning genes on or off; a lot of the other functions had yet to be pinned down. Still, no one had imagined that three quarters of our DNA turns into RNA, let alone that so much of it could do anything useful. Some biologists greeted this announcement with skepticism bordering on outrage. The ENCODE team was accused of hyping its findings; some critics argued that most of this RNA was made accidentally because the RNA-making enzyme that travels along the genome is rather indiscriminate about which bits of DNA it reads.

Now it looks like ENCODE was basically right. Dozens of other research groups, scoping out activity along the human genome, also have found that much of our DNA is churning out "noncoding" RNA. It doesn't encode proteins, as mRNA does, but engages with other molecules to conduct some biochemical task. By 2020 the ENCODE project said it had identified around 37,600 noncoding genes -- that is, DNA stretches with instructions for RNA molecules that do not code for proteins. That is almost twice as many as there are protein-coding genes. Other tallies vary widely, from around 18,000 to close to 96,000. There are still doubters, but there are also enthusiastic biologists such as Jeanne Lawrence and Lisa Hall of the University of Massachusetts Chan Medical School. In a 2024 commentary for the journal Science, the duo described these findings as part of an "RNA revolution."

What makes these discoveries revolutionary is what all this noncoding RNA -- abbreviated as ncRNA -- does. Much of it indeed seems involved in gene regulation: not simply turning them off or on but also fine-tuning their activity. So although some genes hold the blueprint for proteins, ncRNA can control the activity of those genes and thus ultimately determine whether their proteins are made. This is a far cry from the basic narrative of biology that has held sway since the discovery of the DNA double helix some 70 years ago, which was all about DNA leading to proteins. "It appears that we may have fundamentally misunderstood the nature of genetic programming," wrote molecular biologists Kevin Morris of Queensland University of Technology and John Mattick of the University of New South Wales in Australia in a 2014 article. Another important discovery is that some ncRNAs appear to play a role in disease, for example, by regulating the cell processes involved in some forms of cancer. So researchers are investigating whether it is possible to develop drugs that target such ncRNAs or, conversely, to use ncRNAs themselves as drugs. If a gene codes for a protein that helps a cancer cell grow, for example, an ncRNA that shuts down the gene might help treat the cancer.

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