A second, far more recent data breach at women's dating safety app Tea has exposed over a million sensitive user messages -- including discussions about abortions, infidelity, and shared contact info. This vulnerability not only compromised private conversations but also made it easy to unmask anonymous users. 404 Media reports: Despite Tea's initial statement that "the incident involved a legacy data storage system containing information from over two years ago," the second issue impacting a separate database is much more recent, affecting messages up until last week, according to the researcher's findings that 404 Media verified. The researcher said they also found the ability to send a push notification to all of Tea's users.

It's hard to overstate how sensitive this data is and how it could put Tea's users at risk if it fell into the wrong hands. When signing up, Tea encourages users to choose an anonymous screenname, but it was trivial for 404 Media to find the real world identities of some users given the nature of their messages, which Tea has led them to believe were private. Users could be easily found via their social media handles, phone numbers, and real names that they shared in these chats. These conversations also frequently make damning accusations against people who are also named in the private messages and in some cases are easy to identify. It is unclear who else may have discovered the security issue and downloaded any data from the more recent database. Members of 4chan found the first exposed database last week and made tens of thousands of images of Tea users available for download. Tea told 404 Media it has contacted law enforcement. [...]

This new data exposure is due to any Tea user being able to use their own API key to access a more recent database of user data, Rahjerdi said. The researcher says that this issue existed until late last week. That exposure included a mass of Tea users' private messages. In some cases, the women exchange phone numbers so they can continue the conversation off platform. The first breach was due to an exposed instance of app development platform Firebase, and impacted tens of thousands of selfie and driver license images. At the time, Tea said in a statement "there is no evidence to suggest that current or additional user data was affected." The second database includes a data field called "sent_at," with many of those messages being marked as recent as last week.

New submitter Pravetz-82 shares a report from Politico: A cyberattack on Russian state-owned flagship carrier Aeroflot caused a mass outage to the company's computer systems on Monday, Russia's prosecutor's office said, forcing the airline to cancel more than 100 flights and delay others. Ukrainian hacker group Silent Crow and Belarusian hacker activist group the Belarus Cyber-Partisans, which opposes the rule of Belarusian President Alexander Lukashenko, claimed responsibility for the cyberattack. Images shared on social media showed hundreds of delayed passengers crowding Moscow's Sheremetyevo airport, where Aeroflot is based. The outage also disrupted flights operated by Aeroflot's subsidiaries, Rossiya and Pobeda. While most of the flights affected were domestic, the disruption also led to cancellations for some international flights to Belarus, Armenia and Uzbekistan.

Silent Crow claimed it had accessed Aeroflot's corporate network for a year, copying customer and internal data, including audio recordings of phone calls, data from the company's own surveillance on employees and other intercepted communications. "All of these resources are now inaccessible or destroyed and restoring them will possibly require tens of millions of dollars. The damage is strategic," the channel purporting to be the Silent Crow group wrote on Telegram. There was no way to independently verify its claims. The same channel also shared screenshots that appeared to show Aeroflot's internal IT systems, and insinuated that Silent Crow could begin sharing the data it had seized in the coming days. "The personal data of all Russians who have ever flown with Aeroflot have now also gone on a trip -- albeit without luggage and to the same destination," it said. The Belarus Cyber-Partisans told The Associated Press that they had hoped to "deliver a crushing blow." Russia's Prosecutor's Office said it had opened a criminal investigation. Meanwhile, Kremlin spokesperson Dmitry Peskov called reports of the cyberattack "quite alarming," adding that "the hacker threat is a threat that remains for all large companies providing services to the general public."

An anonymous reader quotes a report from CNBC: Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk's posts on X. The memory chipmaker, which had not named the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2025 -- receipt of orders -- and its end date was Dec. 31, 2033. However, Musk later confirmed in a reply to a post on social media platform X that Tesla was the counterparty.

He also posted: "Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip. The strategic importance of this is hard to overstate. Samsung currently makes AI4.TSMC will make AI5, which just finished design, initially in Taiwan and then Arizona. Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress," Musk said on X, and suggested that the deal with Samsung could likely be even larger than the announced $16.5 billion.

Samsung earlier said that details of the deal, including the name of the counterparty, will not be disclosed until the end of 2033, citing a request from the second party "to protect trade secrets," according to a Google translation of the filing in Korean on Monday. "Since the main contents of the contract have not been disclosed due to the need to maintain business confidentiality, investors are advised to invest carefully considering the possibility of changes or termination of the contract," the company said.

Proton VPN reported a 1,400 percent hourly increase in signups over its baseline Friday — the day the UK's age verification law went into effect. For UK users, "apps with explicit content must now verify visitors' ages via methods such as facial recognition and banking info," notes Mashable: Proton VPN previously documented a 1,000 percent surge in new subscribers in June after Pornhub left France, its second-biggest market, amid the enactment of an age verification law there... A Proton VPN spokesperson told Mashable that it saw an increase in new subscribers right away at midnight Friday, then again at 9 a.m. BST. The company anticipates further surges over the weekend, they added. "This clearly shows that adults are concerned about the impact universal age verification laws will have on their privacy," the spokesperson said... Search interest for the term "Proton VPN" also saw a seven-day spike in the UK around 2 a.m. BST Friday, according to a Google Trends chart.
The Financial Times notes that VPN apps "made up half of the top 10 most popular free apps on the UK's App Store for iOS this weekend, according to Apple's rankings." Proton VPN leapfrogged ChatGPT to become the top free app in the UK, according to Apple's daily App Store charts, with similar services from developers Super Unlimited and Nord Security also rising over the weekend... Data from Google Trends also shows a significant increase in search queries for VPNs in the UK this weekend, with up to 10 times more people looking for VPNs at peak times...

"This is what happens when people who haven't got a clue about technology pass legislation," Anthony Rose, a UK-based tech entrepreneur who helped to create BBC iPlayer, the corporation's streaming service, said in a social media post. Rose said it took "less than five minutes to install a VPN" and that British people had become familiar with using them to access the iPlayer outside the UK. "That's the beauty of VPNs. You can be anywhere you like, and anytime a government comes up with stupid legislation like this, you just turn on your VPN and outwit them," he added...

Online platforms found in breach of the new UK rules face penalties of up to £18mn or 10 percent of global turnover, whichever is greater... However, opposition to the new rules has grown in recent days. A petition submitted through the UK parliament website demanding that the Online Safety Act be repealed has attracted more than 270,000 signatures, with the vast majority submitted in the past week. Ministers must respond to a petition, and parliament has to consider its topic for a debate, if signatures surpass 100,000.
X, Reddit and TikTok have also "introduced new 'age assurance' systems and controls for UK users," according to the article. But Mashable summarizes the situation succinctly.

"Initial research shows that VPNs make age verification laws in the U.S. and abroad tricky to enforce in practice."

An Argentine captured naked in his yard by a Google Street View camera has been awarded compensation by a court after his bare behind was splashed over the internet for all to see. From a report: The policeman had sought payment from the internet giant for harm to his dignity, arguing he was behind a 6 1/2-foot wall when a Google camera captured him in the buff, from behind, in small-town Argentina in 2017. His house number and street name were also laid bare, broadcast on Argentine TV covering the story, and shared widely on social media.

The man claimed the invasion exposed him to ridicule at work and among his neighbors. Another court last year dismissed the man's claim for damages, ruling he only had himself to blame for "walking around in inappropriate conditions in the garden of his home." Google, for its part, claimed the perimeter wall was not high enough.

An anonymous reader quotes a report from Ars Technica: Donald Trump vowed to save TikTok before taking office, claiming only he could make a deal to keep the app operational in the US despite national security concerns. But then, he put Vice President JD Vance in charge of the deal, and after months of negotiations, the US still doesn't seem to have found terms for a sale that the Chinese government is willing to approve. Now, Trump Commerce Secretary Howard Lutnick has confirmed that if China won't approve the latest version of the deal -- which could result in a buggy version of TikTok made just for the US -- the administration is willing to shut down TikTok. And soon.

On Thursday, Lutnick told CNBC that TikTok would stop operating in the US if China and TikTok owner ByteDance won't sell the app to buyers that Trump lined up, along with control over TikTok's algorithm. Under the deal Trump is now pushing, "China can have a little piece or ByteDance, the current owner, can keep a little piece," Lutnick said. "But basically, Americans will have control. Americans will own the technology, and Americans will control the algorithm." However, ByteDance's board has long maintained that the US can alleviate its national security fears -- that China may be using the popular app to manipulate and spy on Americans -- without forcing a sale. In January, a ByteDance board member, Bill Ford, told World Economic Forum attendees that a non-sale option "could involve a change of control locally to ensure" TikTok "complies with US legislation" without selling off the app or its algorithm.

At this point, Lutnick suggested that the US is unwilling to bend on the requirement that the US control the recommendation algorithm, which is viewed as the secret sauce that makes the app so popular globally. ByteDance may be unwilling to sell the algorithm partly because then it would be sharing its core intellectual property with competitors in the US. Earlier this month, Trump had claimed that he wasn't "confident" that China would approve the deal, even though he thought it was "good for China." Analysts have suggested that China views TikTok as a bargaining chip in its tariff negotiations with Trump, which continue to not go smoothly, and it may be OK with the deal but unwilling to release the bargaining chip without receiving key concessions from the US. For now, the US and China are enjoying a 90-day truce that could end in August, about a month before the deadline Trump set to sell TikTok in mid-September.

Massive mobile device tracking data has exposed the interconnected network of Myanmar's expanding scam centers, revealing how trafficked workers circulate between compounds despite February crackdowns. Analysis of 4.9 million location records from 11,930 mobile devices between January 2024 and May 2025 showed five devices visited all three major compounds -- Yatai New City, Apolo Park, and Yulong Bay Park -- plus the raided KK Park and Huanya Park facilities.

Workers are forced into romance scams, deceiving victims into believing they're in romantic relationships before extracting money. A South Asian man held six months at KK Park worked 16 hours daily conducting these online deceptions while enduring beatings and electric shocks for poor performance. Nikkei's investigation combined satellite imagery analysis, social media posts from Chinese platform Douyin, and open-source intelligence techniques to document continued construction at eight of 16 suspected sites. Myanmar authorities deported over 66,000 foreign nationals involved in these online fraud operations between October 2023 and June 2025.

An anonymous reader quotes a report from Gizmodo: Robert F. Kennedy Jr., the Secretary of Health and Human Services, has made a big push to get agencies like the Food and Drug Administration to use generative artificial intelligence tools. In fact, Kennedy recently told Tucker Carlson that AI will soon be used to approve new drugs "very, very quickly." But a new report from CNN confirms all our worst fears. Elsa, the FDA's AI tool, is spitting out fake studies.

CNN spoke with six current and former employees at the FDA, three of whom have used Elsa for work that they described as helpful, like creating meeting notes and summaries. But three of those FDA employees told CNN (paywalled) that Elsa just makes up nonexistent studies, something commonly referred to in AI as "hallucinating." The AI will also misrepresent research, according to these employees. "Anything that you don't have time to double-check is unreliable. It hallucinates confidently," one unnamed FDA employee told CNN. [...] Kennedy's Make America Healthy Again (MAHA) commission issued a report back in May that was later found to be filled with citations for fake studies. An analysis from the nonprofit news outlet NOTUS found that at least seven studies cited didn't even exist, with many more misrepresenting what was actually said in a given study. We still don't know if the commission used Elsa to generate that report.

FDA Commissioner Marty Makary initially deployed Elsa across the agency on June 2, and an internal slide leaked to Gizmodo bragged that the system was "cost-effective," only costing $12,000 in its first week. Makary said that Elsa was "ahead of schedule and under budget" when he first announced the AI rollout. But it seems like you get what you pay for. If you don't care about the accuracy of your work, Elsa sounds like a great tool for allowing you to get slop out the door faster, generating garbage studies that could potentially have real consequences for public health in the U.S. CNN notes that if an FDA employee asks Elsa to generate a one-paragraph summary of a 20-page paper on a new drug, there's no simple way to know if that summary is accurate. And even if the summary is more or less accurate, what if there's something within that 20-page report that would be a big red flag for any human with expertise? The only way to know for sure if something was missed or if the summary is accurate is to actually read the report. The FDA employees who spoke with CNN said they tested Elsa by asking basic questions like how many drugs of a certain class have been approved for children. Elsa confidently gave wrong answers, and while it apparently apologized when it was corrected, a robot being "sorry" doesn't really fix anything.

Conspiracy theorists drastically overestimate how many people share their beliefs, according to a study published in the Personality and Social Psychology Bulletin. Researchers conducted eight studies involving over 4,000 US adults and found that while participants believed conspiracy claims just 12% of the time, believers thought they were in the majority 93% of the time.

The study examined beliefs about claims such as the Apollo Moon landings being faked and Princess Diana's death not being an accident. In one example, 8% of participants believed the Sandy Hook shooting was a false flag operation, but that group estimated 61% of people agreed with them. "It might be one of the biggest false consensus effects that's been observed," said co-author Gordon Pennycook, a psychologist at Cornell University. The findings suggest overconfidence serves as a primary driver of conspiracy beliefs.

An anonymous reader quotes a report from NBC News: Using brain scans from a very large database, British researchers determined that during the pandemic years of 2021 and 2022, people's brains showed signs of aging, including shrinkage, according to the report published in Nature Communications. People who got infected with the virus also showed deficits in certain cognitive abilities, such as processing speed and mental flexibility. The aging effect "was most pronounced in males and those from more socioeconomically deprived backgrounds," said the study's first author, Ali-Reza Mohammadi-Nejad, a neuroimaging researcher at the University of Nottingham, via email. "It highlights that brain health is not shaped solely by illness, but also by broader life experiences."

Overall, the researchers found a 5.5-month acceleration in aging associated with the pandemic. On average, the difference in brain aging between men and women was small, about 2.5 months. "We don't yet know exactly why, but this fits with other research suggesting that men may be more affected by certain types of stress or health challenges," Mohammadi-Nejad said. [...] The study wasn't designed to pinpoint specific causes. "But it is likely that the cumulative experience of the pandemic -- including psychological stress, social isolation, disruptions in daily life, reduced activity and wellness -- contributed to the observed changes," Mohammadi-Nejad said. "In this sense, the pandemic period itself appears to have left a mark on our brains, even in the absence of infection." "The most intriguing finding in this study is that only those who were infected with SARS-CoV-2 showed any cognitive deficits, despite structural aging," said Jacqueline Becker, a clinical neuropsychologist and assistant professor of medicine at the Icahn School of Medicine at Mount Sinai. "This speaks a little to the effects of the virus itself."

The study may shed light on conditions like long Covid and chronic fatigue, though it's still unclear whether the observed brain changes in uninfected individuals will lead to noticeable effects on brain function.

Alaska Airlines and Horizon Air grounded all flights Sunday night due to a major IT outage, prompting a system-wide FAA ground stop that lasted until early Monday. Although operations have since resumed, passengers are still facing delays and residual disruptions. Gizmodo reports: The airline requested a system-wide ground stop from federal aviation authorities at about 11 p.m. ET on Sunday night. That stop remained in effect until around 2 a.m. ET Monday, when the Federal Aviation Administration confirmed it had been lifted. But disruptions didn't end there. Alaska warned passengers to brace for likely delays throughout the day. [...] The FAA's website listed the stop as applying to all Alaska Airlines aircraft. Gizmodo notes that the incident comes nearly a year after the massive 2024 CrowdStrike crash, which has become known as the largest IT outage in history. "The July 2024 outage brought down an estimated 8.5 million Microsoft Windows systems running CrowdStrike's Falcon Sensor software, disrupting everything from hospitals and airports to broadcast networks."

"There's no word yet from Alaska on whether the outage ties into a broader software problem, but the timing, almost exactly a year after the CrowdStrike crash, isn't going unnoticed on social media, with users wondering if the events are related."

AI coding service Replit deleted a user's production database and fabricated data to cover up bugs, according to SaaStr founder Jason Lemkin. Lemkin documented his experience on social media after Replit ignored his explicit instructions not to make code changes without permission.

The database deletion eliminated 1,206 executive records representing months of authentic SaaStr data curation. Replit initially told Lemkin the database could not be restored, claiming it had "destroyed all database versions," but later discovered rollback functionality did work. Replit said it made "a catastrophic error of judgement" and rated the severity of its actions as 95 out of 100. The service also created a 4,000-record database filled with fictional people and repeatedly violated code freeze requests.

Lemkin had initially praised Replit after building a prototype in hours, spending $607.70 in additional charges beyond his $25 monthly plan. He concluded the service isn't ready for commercial use by non-technical users.

San Francisco-based startup Orchid Health "screens embryos for thousands of potential future illnesses," reports the Washington Post, calling it "the first company to say it can sequence an embryo's entire genome of 3 billion base pairs." It uses as few as five cells from an embryo to test for more than 1,200 of these uncommon single-gene-derived, or monogenic, conditions. The company also applies custom-built algorithms to produce what are known as polygenic risk scores, which are designed to measure a future child's genetic propensity for developing complex ailments later in life, such as bipolar disorder, cancer, Alzheimer's disease, obesity and schizophrenia. Orchid, [founder Noor] Siddiqui said in a tweet, is ushering in "a generation that gets to be genetically blessed and avoid disease." Right now, at $2,500 per embryo-screening on top of the average $20,000 for a single cycle of IVF, Siddiqui's social network in Silicon Valley and other tech hubs is an ideal target market...

Yet several genetic scientists told The Post they doubt Orchid's core claim: that it can accurately sequence an entire human genome from just five cells collected from an early-stage embryo, enabling it to see many more single- and multiple-gene-derived disorders than other methods have. Experts have struggled to extract accurate genetic information from small embryonic samples, said Svetlana Yatsenko, a Stanford University pathology professor who specializes in clinical and research genetics. Genetic tests that use saliva or blood samples typically collect hundreds of thousands of cells. For its vastly smaller samples, Orchid uses a process called amplification, which creates copies of the DNA retrieved from the embryo. That process, Yatsenko said, can introduce major inaccuracies. "You're making many, many mistakes in the amplification," she said, rendering it problematic to declare any embryo free of a particular disease, or positive for one. "It's basically Russian roulette...."

Numerous fertility doctors and scientists also told The Post they have serious reservations about screening embryos through polygenic risk scoring, the technique that allows Orchid and other companies to predict future disease by tying clusters of hundreds or even thousands of genes to disease outcomes and in some cases to other traits, such as intelligence and height. The vast majority of diseases that afflict humans are associated with many different genes rather than a single gene... And for traits such as intelligence, polygenic scoring has almost negligible predictive capacity — just a handful of IQ points... Or parents might select against an unwanted trait, such as schizophrenia, without understanding how they may be screening out desired traits associated with the same genes, such as creativity... The American College of Medical Genetics and Genomics calls the benefits of screening embryos for polygenic risks "unproven" and warns that such tests "should not be offered" by clinicians. A pioneer of polygenic risk scores, Harvard epidemiology professor Peter Kraft, has criticized Orchid, saying on X that "the science doesn't add up" and that "waving a magic wand and changing some of these variants at birth may not do anything at all."
The article notes several startups are already providing predictions on intelligence. "In the United States, there are virtually no restrictions on the types of genetic predictions companies can offer, and no external vetting of their proprietary scoring methods."

Twitter co-founder/Block CEO Jack Dorsey isn't just vibe coding new apps like Bitchat and Sun Day. He's also "invested $10 million in an effort to fund experimental open source projects and other tools that could ultimately transform the social media landscape," reports TechCrunch," funding the projects through an online collective formed in May called "andOtherStuff: [T]he team at "andOtherStuff" is determined not to build a company but is instead operating like a "community of hackers," explains Evan Henshaw-Plath [who handles UX/onboarding and was also Twitter's first employee]. Together, they're working to create technologies that could include new consumer social apps as well as various experiments, like developer tools or libraries, that would allow others to build apps for themselves.

For instance, the team is behind an app called Shakespeare, which is like the app-building platform Lovable, but specifically for building Nostr-based social apps with AI assistance. The group is also behind heynow, a voice note app built on Nostr; Cashu wallet; private messenger White Noise; and the Nostr-based social community +chorus, in addition to the apps Dorsey has already released. Developments in AI-based coding have made this type of experimentation possible, Henshaw-Plath points out, in the same way that technologies like Ruby on Rails, Django, and JSON helped to fuel an earlier version of the web, dubbed Web 2.0.

Related to these efforts, Henshaw-Plath sat down with Dorsey for the debut episode of his new podcast, revolution.social with @rabble... Dorsey believes Bluesky faces the same challenges as traditional social media because of its structure — it's funded by VCs, like other startups. Already, it has had to bow to government requests and faced moderation challenges, he points out. "I think [Bluesky CEO] Jay [Graber] is great. I think the team is great," Dorsey told Henshaw-Plath, "but the structure is what I disagree with ... I want to push the energy in a different direction, which is more like Bitcoin, which is completely open and not owned by anyone from a protocol layer...."

Dorsey's initial investment has gotten the new nonprofit up and running, and he worked on some of its initial iOS apps. Meanwhile, others are contributing their time to build Android versions, developer tools, and different social media experiments. More is still in the works, says Henshaw-Plath.

"There are things that we're not ready to talk about yet that'll be very exciting," he teases.

The Independent notes a remarkable-if-true figure that's being bandied around this week.

Meta "started making these, like, giant offers to a lot of people on our team," OpenAI CEO Sam Altman told his brother Jack on his podcast. "You know, like, $100 million signing bonuses, more than that [in] compensation per year... I'm really happy that, at least so far, none of our best people have decided to take him up on that."

Previous reports have also suggested that Meta is targeting employees at Google DeepMind, offering similar levels of compensation. Some of these efforts appear to have been successful, with DeepMind researcher Jack Rae joining Meta's 'Superintelligence' team earlier this month...

During the podcast, which was published on Tuesday, Mr Altman also gave details about future AI products that OpenAI is hoping to build, claiming that they will enable "crazy new social experiences" and "virtual employees". The most important breakthrough over the next decade, he said, would involve radical new discoveries powered by AI. "The thing that I think will be the most impactful in that five-to-10 year timeframe is AI will actually discover new science," he said.
The Washington Post notes that Zuckerberg "responded to recent reports of his compensation offers in an interview posted by the Information on YouTube on Tuesday, saying that 'a lot of the numbers specifically have been inaccurate" but acknowledging there is "an absolute premium for the best and most talented people." Zuckerberg's recent hires and other comments this week suggest he's not taking any chances of being left behind. He announced plans for a giant data center campus large enough to obscure Manhattan to power future AI projects by his superintelligence team.

Microsoft will stop using China-based engineers to support U.S. military cloud services after a ProPublica report revealed their involvement, prompting backlash from Senator Tom Cotton and a two-week Pentagon review ordered by Defense Secretary Pete Hegseth. In response, Hegseth announced an immediate ban on any Chinese involvement in Department of Defense cloud contracts. Reuters reports: The report detailed Microsoft's use of Chinese engineers to work on U.S. military cloud computing systems under the supervision of U.S. "digital escorts" hired through subcontractors who have security clearances but often lacked the technical skills to assess whether the work of the Chinese engineers posed a cybersecurity threat. [Microsoft] told ProPublica it disclosed its practices to the U.S. government during an authorization process.

On Friday, Microsoft spokesperson Frank Shaw said on social media website X the company changed how it supports U.S. government customers "in response to concerns raised earlier this week ... to assure that no China-based engineering teams are providing technical assistance" for services used by the Pentagon.

Brandon Vigliarolo writes via The Register: A tech executive's alleged affair exposed on a stadium jumbotron is ripe fodder for the gossip rags, but it exhibits something else: proof that we need not wait for an AI-fueled dystopian surveillance state to descend on us -- we're perfectly able and willing to surveil ourselves. The embracing couple caught at a Coldplay concert this week as the jumbotron camera panned around the audience would have been another unremarkable clip, if not for the pair panicking and rushing to hide, triggering attendees to publish the memorable moment on social media. "Either they're having an affair or they're very shy," Coldplay singer Chris Martin said of the pair's reaction.

As is always the case when viral moments of unknown people get uploaded to the internet, they didn't remain anonymous for long, with the internet quickly identifying them as the CEO of data infrastructure outfit Astronomer, Andy Byron, and its Chief People Officer, Kristin Cabot. We're not going to weigh in on Byron's, who internet sleuths have determined is married (for now), or Cabot's behavior - making someone pay for the moral transgression of an alleged extramarital affair may be enough reason for the internet to go on a witch hunt, but that's not our concern here.

What's worrying is what this moment says - yet again - about us as a society: We have cameras everywhere, our personal data has become one of the most valuable commodities in the world, and we're all perpetually ready to use that tech to make those we feel have violated the social contract pay publicly for their transgressions. This is hardly a new phenomenon. [...] There's really no reason to set up an expensive and oppressive surveillance state when we all have location tracking, internet-connected shaming machines in our pockets. Big tech gave us the tools of our own surveillance, and as "ColdplayGate" shows yet again, we'll keep using those tools if they'll make us feel better about ourselves - especially if someone else gets knocked down a peg in the process.

The abstract of a paper featured on NBER: Most U.S. innovation output originates from firms that operate R&D facilities across multiple local markets. We study how this geographic structure influences aggregate innovation and growth, and whether it is socially optimal. First, we develop an endogenous growth model featuring multi-market innovative firms that generate knowledge spillovers to geographically proximate firms. In equilibrium, firms may operate in too few or too many local markets, depending on how sensitive are the local spillovers they generate to their local size. Second, to quantify these effects, we link the model to data on firms' R&D locations, patents, and citation networks. Using an event-study design, we show that firms' spatial expansion increases spillovers to other firms and estimate how these spillovers depend on a firm's local footprint. Our estimates imply that U.S. innovative firms operate in too few markets relative to the social optimum. Third, using quantitative counterfactuals, we find that policies promoting broader spatial scope yield larger welfare gains than standard R&D subsidies. Moreover, unlike R&D subsidies, such policies can also reduce regional inequality.

Digital tokens designed to track popular stocks have suffered extreme price deviations since launching two weeks ago, with an Amazon-tracking token briefly spiking to more than 100 times the underlying stock's closing price. The token AMZNX hit $23,781.22 on crypto trading platform Jupiter on July 3, while Amazon shares had closed the previous day around $200.

A similar Apple-tracking token jumped to $236.72 on July 3, representing a 12% premium to the actual stock price. Companies including Robinhood, Kraken, Gemini and Bybit launched these blockchain-based versions of U.S. stocks in late June for non-U.S. customers. Robinhood is facing scrutiny from Lithuania's central bank after launching tokens tied to OpenAI and SpaceX without permission from either company, prompting OpenAI to disavow the tokens on social media.

Reddit has begun verifying users' ages in the UK to restrict access to "certain mature content" for minors, complying with the UK's Online Safety Act. The BBC reports: Reddit, known for its online communities and discussions, said that while it does not want to know who its audience is: "It would be helpful for our safety efforts to be able to confirm whether you are a child or an adult." Ofcom, the UK regulator, said: "We expect other companies to follow suit, or face enforcement if they fail to act." Reddit said that from 14 July, an outside firm called Persona will perform age verification for the social media platform either through an uploaded selfie or "a photo of your government ID," such as a passport. It said Reddit will not have access to the photo and will only retain a user's verification status and date of birth so people do not have to re-enter it each time they try to access restricted content. Reddit added that Persona "promises not to retain the picture for longer than seven days" and will not have access to a user's data on the site. The new rules in the UK come into force on 25 July. [...]

Companies that fail to meet the rules face fines of up to 18 million pounds or 10% of worldwide revenue, "whichever is greater." [Ofcom] added that in the most serious cases, it can seek a court order for "business disruption measures," such as requiring payment providers or advertisers to withdraw their services from a platform, or requiring Internet Service Providers to block access to a site in the UK."