"Compared to the website's average daily volume over the past month, the 52,121,649 visits Reddit saw on June 13th represented a 6.6 percent drop..." reports Engadget (citing data provided by internet analytics firm Similarweb). [A]s many subreddits continue to protest the company's plans and its leadership contemplates policy changes that could change its relationship with moderators, the platform could see a slow but gradual decline in daily active users. That's unlikely to bode well for Reddit ahead of its planned IPO and beyond.
In fact, the Financial Times now reports that Reddit "acknowledged that several advertisers had postponed certain premium ad campaigns in order to wait for the blackouts to pass." But they also got this dire prediction from a historian who helps moderate the subreddit "r/Askhistorians" (with 1.8 million subscribers).

"If they refuse to budge in any way I do not see Reddit surviving as it currently exists. That's the kind of fire I think they're playing with."

More people had the same same thought. The Reddit protests drew this response earlier this week from EFF's associate director of community organizing: This tension between these communities and their host have, again, fueled more interest in the Fediverse as a decentralized refuge... Unfortunately, discussions of Reddit-like fediverse services Lemmy and Kbin on Reddit were colored by paranoia after the company banned users and subreddits related to these projects (reportedly due to "spam"). While these accounts and subreddits have been reinstated, the potential for censorship around such projects has made a Reddit exodus feel more urgently necessary...
Saturday the EFF official reiterated their concerns when Wired asked: does this really signal the death of Reddit? "I can't see it as anything but that... [I]t's not a big collapse when a social media website starts to die, but it is a slow attrition unless they change their course. The longer they stay in their position, the more loss of users and content they're going to face."

Wired even heard a thought-provoking idea from Amy Bruckman, a regents' professor/senior associate chair at the School of Interactive Computing at Georgia Institute of Technology. Bruckman "advocates for public funding of a nonprofit version of something akin to Reddit."

Meanwhile, hundreds of people are now placing bets on whether Reddit will backtrack on its new upcoming API pricing — or oust CEO Steve Huffman — according to Insider, citing reports from online betting company BetUS.

CEO Huffman's complaint that the moderators were ignoring the wishes of Reddit's users led to a funny counter-response, according to the Verge. After asking users to vote on whether to end the protest, two forums saw overwhelming support instead for the only offered alternative: the subreddits "now only allow posts about comedian and Last Week Tonight host John Oliver."

Both r/pics (more than 30 million subscribers) and r/gifs (more than 21 million subscribers) offered two options to users to vote on... The results were conclusive:

r/pics: return to normal, -2,329 votes; "only allow images of John Oliver looking sexy," 37,331 votes.
r/gifs: return to normal, -1,851 votes; only feature GIFs of John Oliver, 13,696 votes...

On Twitter, John Oliver encouraged the subreddits — and even gave them some fodder. "Dear Reddit, excellent work," he wrote to kick off a thread that included several ridiculous pictures. A spokesperson for Last Week Tonight with John Oliver didn't immediately reply to a request for comment.

As first hinted at by Intel back in late April, Intel is embarking on a journey to redefine its client processor branding, the biggest such shift in the previous 15 years of the company. From a report: Having already made waves by altering its retail packaging on premium desktop chips such as the Core i9-11900K and Core i9-12900K, the tech giant aims to introduce a new naming scheme across its client processors, signaling a transformative phase in its client roadmap. This shift is due to begin in the second half of the year, when Intel will launch their highly anticipated Meteor Lake CPUs. Meteor Lake represents a significant leap forward for the company in regards to manufacturing, architecture, and design -- and, it would seem, is prompting the need for a fresh product naming convention.

The most important changes include dropping the 'i' from the naming scheme and opting for a more straightforward Core 3, 5, and 7 branding structure for Intel's mainstream processors. The other notable inclusion, which is now officially confirmed, is that Intel will bifurcate the Core brand a bit and place its premium client products in their own category, using the new Ultra moniker. Ultra chips will signify a higher performance tier and target market for the parts, and will be the only place Intel uses their top-end Core 9 (previously i9) branding.

Sony says it has started testing the ability to stream PS5 games from the cloud. The PlayStation maker says it's testing cloud streaming for PS5 games and is planning to add this as a feature to its PlayStation Plus Premium subscription. From a report: "We're currently testing cloud streaming for supported PS5 games -- this includes PS5 titles from the PlayStation Plus Game Catalog and Game Trials, as well as supported digital PS5 titles that players own," says Nick Maguire, VP of global services, global sales, and business operations at Sony Interactive Entertainment. "When this feature launches, cloud game streaming for supported PS5 titles will be available for use directly on your PS5 console." A cloud feature for PS5 games would mean you'll no longer have to download games to your console to stream them to other devices. Sony currently supports streaming PS5 games to PCs, Macs, and iOS and Android devices, but you have to use your PS5 as the host to download and stream titles to your other devices.

Logitech is merging its gaming headset maker, Astro, and microphone manufacturer, Blue Microphones, into its Logitech G brand. While the Astro brand will continue as a premium console audio product series under Logitech G, the Blue brand will be phased out. The Verge reports: You can already see the transition playing out on Logitech's website, which still sells Yeti and even Snowball microphones that merely come "with Blue VO!CE" but no longer links to a distinct Blue website or product page. Astrogaming.com, however, still exists.

It's not clear why Logitech is minimizing its influential brands Astro and Blue, which defined the high-end gaming headset category and the microphone-for-streamers category, respectively, but I wonder if Logitech simply decided it had to choose between Blue and Yeti -- and Yeti was the name that rang out. However, Logitech's simply pitching it as a synergy play: you'll be able to control all your formerly Blue, Astro, and Logitech Creator products in the Logitech G software suite when all's said and done. Logitech bought gaming headset maker Astro for $85 million in 2017 and purchased mic manufacturer Blue Microphones for $177 million one year later.

United Airlines is set to introduce the next-generation Astrove in-flight entertainment system, featuring Panasonic's 4K OLED TVs, with larger screens and thinner bezels than current models. The system also offers Bluetooth 5.0 connectivity, allowing passengers to use their own wireless headphones, and includes two 67W USB-C chargers for charging mobile devices. However, these new entertainment systems will only be available on United's new Airbus A321XLRs and Boeing 787s starting in 2025. Android Headlines reports: The new Astrova System does also have two 67W USB-C chargers available on the bottom-left edge. This means you can use it to charge your phone as well as your laptop or tablet at the same time. So that when you land, you have fully juiced devices. This is all being done to create a "premium home theater environment."

Apple has unveiled a new 15-inch MacBook Air at its 2023 Worldwide Developers Conference. The new model is 11.5mm thick, which Apple says makes it the world's thinnest 15-inch laptop. From a report: It has two USB-C Thunderbolt ports, a MagSafe charging connector, and a headphone jack. Its 15.3-inch screen has 500 nits of brightness, a 1080p webcam, and gets a quoted 18 hours of battery life. It'll come with Apple's M2 chip.

The new model starts at $1,299 and will be available next week. Meanwhile, Apple is updating the price on its smaller model. The 13-inch MacBook Air with M2 now starts at $1,099. The new laptop represents a midrange release for Apple, which previously had a fairly large price gap between its 13-inch MacBook offerings and larger premium-priced models. The 15-inch Air will likely serve an audience that wants a large screen but doesn't need the extra computing power (and cost) of 14-inch and 16-inch Pro models.

An anonymous reader shares an opinion piece from the Guardian's Arwa Mahdawi: Insurance company documents aren't exactly renowned for being riveting reading. This week, however, State Farm, the largest insurance firm in the US by premium volume, came out with an eyeball-grabbing update: it has stopped accepting new homeowner insurance applications in California. In a statement, the company said the decision was based on the heightened risk of natural disasters, such as wildfires, along with historic increases in construction costs.

This news didn't come out of nowhere. Last year, two large insurance firms in California ended their coverage for some multimillion-dollar houses in wildfire-prone areas. "We cannot charge an adequate price for the risk," one insurance company CEO explained in an earnings call. But the scope of this announcement seems unprecedented. The US's biggest insurer halting new policies in the US's most populous state? A state with a population of nearly 40 million suddenly having its home insurance options curtailed because insurance companies know that extreme weather is only getting worse and more expensive?

If this doesn't serve as a wake-up call about the climate crisis, I don't know what will. Melting ice caps may be abstract enough to ignore, but plummeting house prices have a way of getting people's attention. House prices haven't plummeted yet, of course. Quite the opposite: California is an incredibly expensive place to live. But if you can't get insurance, it's almost impossible to get a mortgage. This makes it harder to sell your house and will make prices go down. The writing is on the wall, as insurance companies are well aware.

Popular Reddit app Apollo might not be able to operate as is in the future due to planned API pricing that Reddit is implementing. From a report: Apollo developer Christian Selig was today told that Reddit plans to charge $12,000 for 50 million API requests. Last month, Apollo made seven billion requests, which would mean Selig would need to pay $1.7 million per month or $20 million per year to Reddit to keep the app running. The average Apollo user uses 344 requests per day, which would be priced at $2.50 per month, more than double the current subscription cost, or a sum that Selig is not able to afford. Right now, Apollo Pro is a one-time $4.99 fee that unlocks additional features, and Apollo Ultra is an even more premium tier that costs $12.99 per year.

MoviePass is back thanks to MoviePass co-founder Stacy Spikes, who was fired from the company in 2018 for questioning the sustainability of its business model. "Under the company's new points-based system, you can pay $10 per month to watch one to three movies at any of the 4,000 participating theaters throughout the US," reports The Verge. From the report: In addition to the $10 / month Basic plan, MoviePass offers three more expensive subscription options: a $20 / month Standard plan for three to seven movies per month, a $30 / month Premium plan for five to 11 movies per month, and a $40 / month Pro for up to 30 movies per month. There's a separate, more expensive subscription for customers in Southern California and the New York metro area. The reason why each tier includes a range of movies you can watch has to do with the way MoviePass' new credits system works. Every tier offers a different number of credits that you can redeem on movies each month, with Basic having the least number of credits and the Pro plan having the most.

According to MoviePass, a film's credit value can fluctuate depending on a number of factors, including the time of day and day of the week you want to watch it. Based on tweets from customers who tested the service, credit costs have changed without warning and can vary significantly across showings. If you don't use up all your credits, MoviePass says it will roll them over to the next month, allowing you to have a maximum of two months' worth of unused credits in your account to use at a later date. Once you sign up for the service, you'll receive a MoviePass card within 10 to 15 business days that you'll need to use at supported theaters. The sustainability of MoviePass started to crumble in 2017 when it began offering customers unlimited movie-watching for just $9.95 per month. The seemingly too-good-to-be-true pricing ultimately resulted in the company's bankruptcy two years later.

Additionally, the Securities and Exchange Commission (SEC) filed a lawsuit against MoviePass, alleging that the company had misled investors about the viability of its business model.

An anonymous reader quotes a report from TechCrunch: Amazon is engaging with Times Internet to explore the acquisition of MX Player, one of the largest on-demand video streaming services in India, according to four sources familiar with the matter, as the American e-commerce group eyes expanding its entertainment ambitions in the key overseas market. The deliberations are remarkable for MX Player, which was acquired by the Indian conglomerate Times Internet for $140 million in 2018. The video app, popular for supporting a wide range of video formats and reliability on low-cost Android smartphones, has expanded to original content in recent years and has amassed more than 300 million users globally.

MX Player has gained wide adoption in markets such as India in part by offering its wide video catalog that includes access to live cable TV channels at no charge to consumers. Instead the service makes most of its revenue through ads. MX Player was one of the earliest video apps to expand into short-video format, cashing in on an opportunity created in the aftermath of New Delhi banning TikTok in the country in mid-2020. MX Player eventually merged that business with ShareChat's short-video offering Moj in a deal worth $900 million. [...] MX Player, which offers its premium offerings in many international markets, claims it has over 150 million active users in India. The firm last raised a venture round in 2019, when it received an investment of $110.8 million in a funding round led by Tencent. That round valued MX Player at $500 million.

An anonymous reader shares a report: YouTube Premium subscribership grew to a record 80 million users in 2022, and Google responded by announcing it would be investing more into its subscription offerings in 2023. What we didn't realize at the time was how that could mean handicapping its free offerings to get more people to pay for its services. When watching videos yesterday, one Redditor encountered a popup informing them that "Ad blockers are not allowed on YouTube." The message offered a button to "Allow YouTube ads" in the person's ad blocking software and went on to explain that ads make the service free for billions of users and that YouTube Premium offers an ad-free experience. It even provided a button to easily sign up for a YouTube Premium membership.

BuzzFeed is shutting down BuzzFeed News and laying off 15% of its employees, or about 180 people. CEO Jonah Peretti made the announcement in a memo on Thursday. Variety reports: Going forward, BuzzFeed will concentrate its news efforts in a single profitable news organization -- HuffPost, which it acquired from Verizon in 2020, per Peretti's memo. The company's flagship BuzzFeed.com site will remain in place. "While layoffs are occurring across nearly every division, we've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization," Peretti wrote.

BuzzFeed News launched in 2012 under then-editor in chief Ben Smith. In the memo, Peretti said, "I made the decision to overinvest in BuzzFeed News because I love their work and mission so much. This made me slow to accept that the big platforms wouldn't provide the distribution or financial support required to support premium, free journalism purpose-built for social media." HuffPost is "a brand that is profitable with a highly engaged, loyal audience that is less dependent on social platforms," than BuzzFeed News, according to Peretti.

Peretti also wrote, "we will bring more innovation to clients in the form of creators, AI and cultural moments that can only happen across BuzzFeed, Complex, HuffPost, Tasty and First We Feast." According to a BuzzFeed spokesperson, no jobs are being replaced by AI. The company recently started using AI to assist in creating some content, including quizzes, and Peretti said the technology would become "part of our core business."

An anonymous reader quotes a report from Ars Technica: What's even harder-core than the IBM Model M? The Model F, the keyboard that launched alongside the IBM PC in 1981. After a 2017 relaunch, new models with the original layout are here. The project, which back in 2017 relaunched a modern keyboard inspired by a compact space-saver version of IBM's classic Model F, is launching its second generation of brand-new premium input devices, and this time, various layouts will be available. [...]

Enter the New Model F Keyboards project. "Ellipse" launched it in 2017 and attracted over $300,000 worth of orders, even at $399 each. Aside from the not-inconsiderable price, what put the author off was the layout. Space-saving and reduced-footprint keyboards are very popular among serious keyboard collectors, and the project chose two space-saver layouts from IBM's 4704 terminal, dubbed the Kishsaver after the collector who described it. The F77 layout has a numeric keypad, but no function keys; the even smaller F62 layout omits the keypad, or as the cool kids call it, it's a TKL layout, which we are informed stands for tenkeyless, presumably because it has 15 fewer keys.

Which is why the FOSS desk's bank account would tremble in fear if it were not an inanimate table in a database somewhere, because the Model F project has announced a new range, including full-size and compact 104-key layouts and most appealing to this large and heavy-handed vulture, a replica of the 122-key IBM Battleship, one of which we've been hunting for over a decade. The project occasionally has refurbished original IBM units. Now, though, a brand-new one is a $420 option. If that isn't exclusive enough, your correspondent also working on a model with beam springs, the mechanism from 1970s IBM business products. The first model of the brand new beam spring units is a mere $579.

An anonymous reader quotes a report from Fortune: The U.S., Soviet Union, and Japan have all sent robots to the moon over the past 50 years. Now, a group of college students is joining in by building a shoebox-sized rover that they plan to launch in May, Bloomberg reported Wednesday. The lunar rover, called Iris, will be the first privately-made American robot to explore the surface of the moon, according to the project's website. But that's not all -- it would also be the first student-built rover, and the smallest and lightest one yet. Around 300 students from Carnegie Mellon University have all pitched in on the project.

Iris is tiny and weighs 2 kgs (4.4 lbs) -- but the design is deliberately small. The rover will fly on a private rocket carrying 14 payloads to the moon, which includes Iris, projects for the National Aeronautics and Space Administration as well as some humans. The project involved around 300 students, who will also control and operate Moonshot Mission Control, the control center for Iris based in CMU's campus in Pittsburgh. Iris will spend a total of 50 hours on the moon's surface before it runs out of battery, after which it will be left on the moon. It has two cameras that will help it capture images of dust on the moon's surface.

Strains in the banking sector are roiling a roughly $8 trillion bond market considered almost as safe as U.S. government bonds. From a report: So-called agency mortgage bonds are widely held by banks, insurers and bond funds because they are backed by the mortgage loans from government-owned lenders Fannie Mae and Freddie Mac. The bonds are far less likely to default than most debt and are easy to buy and sell quickly, a crucial reason they were Silicon Valley Bank's biggest investment before it foundered.ÂBut agency mortgage-backed securities, like all long-term bonds, are vulnerable to rising interest rates, which pushed their prices down last year and saddled banks such as SVB with unrealized losses. Now that the Federal Deposit Insurance Corp. has taken over SVB, investors expect the bonds to be sold off in coming months, adding supply to the weakened market and pushing prices lower.

Last week, the risk premium on a widely followed Bloomberg index of agency MBS hit its highest level since October, when climbing interest rates turned global markets topsy-turvy. The move reflected fears that other regional banks might have to sell their holdings, bond-fund managers said. [...] When benchmark interest rates rise, bonds that were sold at times of lower rates lose value. Prices of such "low coupon" agency MBS started dropping about a year ago, when the Federal Reserve raised rates to fight inflation and indicated it might start selling MBS it owned. Some of the bonds lost 15% or more in a matter of months, trading as low as 80 cents on the dollar, according to data from FactSet.

LinkedIn is expanding its suite of artificial intelligence features, this time adding tools that will generate content for user profiles and job descriptions. From a report: One tool announced today will scan user profiles for skills and experiences and spit out suggested copy or summaries to add to other profile sections. The company says it still recommends users review and edit what the tool has generated "to ensure it is accurate and aligns with your tone and experience." LinkedIn will begin testing the tool starting today and expand access to all LinkedIn Premium subscribers over the course of the next few months. Another employment tool promises to make writing job descriptions "faster and easier" and "streamline" the hiring process. Employers will provide information about the role, including title and company name, and LinkedIn's tool will generate a description that the hiring manager can then edit.

GitLab shares plunged as much as 38% in extended trading after the provider of source code management software gave full-year revenue guidance that fell short of expectations. CNBC reports: Here's how the company did:

Earnings: Loss of 3 cents per share, adjusted, vs. loss of 14 cents per share as expected by analysts, according to Refinitiv.
Revenue: $122.9 million, vs. $119.6 million as expected by analysts, according to Refinitiv. Revenue increased 58% year over year in the quarter that ended Jan. 31, according to a statement.

GitLab called for a fiscal first-quarter adjusted loss of 14 cents to 15 cents per share on $117 million to $118 million in revenue. Analysts surveyed by Refinitiv had expected an adjusted loss of 16 cents per share and revenue of $126.2 million. For the 2024 fiscal year, the company sees an adjusted loss of 24 cents to 29 cents per share and $529 million to $533 million in revenue. That works out to 25% growth at the middle of the range. The consensus among analysts polled by Refinitiv was an adjusted loss of 54 cents per share and $586.4 million in revenue. During the quarter Gitlab said that in April its premium service tier will go up to $29 per month from $19.

A SPAC merger brought a global "Uber for bus" startup to the Nasdaq just as tech investment was about to dry up. From a report: In July 2021 the world's tallest tower, the Burj Khalifa in Dubai, was briefly lit up in brilliant red, with animated electronic text scrolling up its height announcing "the Middle East's first $1.5 billion unicorn to list on Nasdaq." The splashy marketing was for Swvl, a company with lofty ambitions to become a hybrid of a ride-hailing app and bus service in cities across the globe. Twenty months later, the Dubai-based company's shares have dropped more than 99%. Its roughly $9 million market value is a shadow of the billion-dollar-plus valuation that once gave it so-called unicorn status.

A deal to buy Turkish transit company Volt Lines largely using Swvl shares fell apart in January. Once trumpeted by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum as a symbol of the Middle East's startup spirit, Swvl Holdings has become another example of tech-sector overreach -- and how quickly investor money dried up once superlow interest rates went away. It also shows the perils of trying to build a business that straddles emerging markets vulnerable to currency shocks as the dollar rises. Swvl was co-founded in Cairo in 2017 by former Rocket Internet SE executive Mostafa Kandil along with Ahmed Sabbah and Mahmoud Nouh. The trio started the company as a solution for commuters who didn't want to rely on public transit but couldn't pay a premium for ride-share services. Their idea: buses and vans running along routes that users could book a ride on with an app.

Google is expanding VPN access to all Google One members on all plans and rolling out a new dark web report feature for all subscribers. From a report: VPN by Google One was previously only available to members on the Premium 2TB plan, but will now be available to all Google One members, including those on the Basic plan that starts at $1.99 per month. The tech giant notes that VPN by Google One adds more protection to your internet activity no matter what apps or browsers you use, shielding it from hackers or network operators by masking your IP address. Google is also introducing a new feature called "dark web report" for Google One members on all plans in the United States to help users monitor their personal information on the dark web. Dark web report will start rolling out over the next few weeks to members across all Google One plans in the United States.

An anonymous reader quotes a report from Bloomberg: When Nestle SA's peanut allergy medicine first hit the market in 2020, Robert Wood, the director of pediatric allergy at Johns Hopkins Hospital in Baltimore, started preparing to offer it to the children he treats. But Covid-19 soon derailed in-person treatment, so over the next year and a half Wood and his colleagues told some 1,000 patients about the new drug instead, suggesting they consider it when the pandemic abated. Their responses came as a shock. Only six people were interested in a medicine that had been billed as a game changer for life-threatening allergies -- the first of its kind to be cleared by US authorities. Three years later, Wood has yet to prescribe the drug, Palforzia, and he isn't alone. Doctors and patients from California to Germany appear to be shunning the medicine in favor of the tried-and-true prescription for sufferers: simply avoiding peanuts and carrying an adrenaline injection for emergencies.

Nestle's chief executive officer, Mark Schneider, admitted as much in November, conceding that the drug's uptake had been slow. Schneider in 2020 bought out Palforzia's developer for $2.6 billion, paying a staggering 174% premium as he sought to take "the science business to the next level," snapping up vitamin makers such as Puritan's Pride and Solgar as well. The company is looking for a buyer, and the Swiss food giant says it will have to recognize a significant impairment to the deal's original value -- likely presaging a big writedown at a time when its core grocery business faces pressure from inflation. Maybe the company known for Nespresso capsules and Kit Kat chocolate wafers was never the right owner for a complex-to-administer niche medicine, but Schneider is on the hunt to find new avenues of growth in keeping with his strategic tilt toward health and wellness. The CEO "is looking to make acquisitions in new areas, and that inherently carries risks," says Martin Deboo, an analyst at Jefferies. "Palforzia is a signal of that." Nestle reiterated its commitment to nutritional health in an email and said Palforzia is safe and effective and solves the problem of variable potency that can hobble efficacy or trigger an allergic reaction with other less stringent treatments.

The product is essentially peanut protein that's been packed in a pill, standardized and categorized as a medicine after meeting the Food and Drug Administration's exacting clinical-trial requirements on safety and efficacy. By exposing children to tiny but gradually increasing amounts of the ingredient, Palforzia slowly raises their sensitivity threshold. But the process requires commitment by parents and kids to a demanding regime that lasts more than a year. [...] Palforzia is not without risk. During the clinical trials, about 9% of children suffered potentially dangerous immune reactions when their doses were being increased. [...] Bloomberg notes that Germany's Institute for Quality and Efficiency in Health Care concluded that Nestle's drug "doesn't offer any advantage over peanut avoidance." A UK panel that assess medicines' cost-effectiveness also found the drug to be quite expensive, costing about $6,220 per patient in England.

"As for Wood at Johns Hopkins, he says the allergy center would've lost money administering Palforzia -- something it was willing to do if there had been enough interest among patients. When asked whether some patients might've gone elsewhere for Palforzia, Wood says probably not."