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The Almighty Buck

Roblox Executive Says Children Making Money On the Platform Isn't Exploitation, It's a Gift (eurogamer.net) 60

In an interview with Roblox Studio head Stefano Corazza, Eurogamer asked about the reputation Roblox has gained and the notion that it was exploitative of young developers, since it takes a cut from work sometimes produced by children. Here's what he had to say: "I don't know, you can say this for a lot of things, right?" Corazza said. "Like, you can say, 'Okay, we are exploiting, you know, child labour,' right? Or, you can say: we are offering people anywhere in the world the capability to get a job, and even like an income. So, I can be like 15 years old, in Indonesia, living in a slum, and then now, with just a laptop, I can create something, make money and then sustain my life. "There's always the flip side of that, when you go broad and democratized - and in this case, also with a younger audience," he continued. "I mean, our average game developer is in their 20s. But of course, there's people that are teenagers -- and we have hired some teenagers that had millions of players on the platform.

"For them, you know, hearing from their experience, they didn't feel like they were exploited! They felt like, 'Oh my god, this was the biggest gift, all of a sudden I could create something, I had millions of users, I made so much money I could retire.' So I focus more on the amount of money that we distribute every year to creators, which is now getting close to like a billion dollars, which is phenomenal."

At this point the PR present during the interview added that "the vast majority of people that are earning money on Roblox are over the age of 18." "And imagine like, the millions of kids that learn how to code every month," Corazza said. "We have millions of creators in Roblox Studio. They learn Lua scripting," a programming language, "which is pretty close to Python - you can get a job in the tech industry in the future, and be like, 'Hey, I'm a programmer,' right? "I think that we are really focusing on the learning - the curriculum, if you want - and really bringing people on and empowering them to be professionals."

AI

Google Books Is Indexing AI-Generated Garbage (404media.co) 11

Google Books is indexing low quality, AI-generated books that will turn up in search results, and could possibly impact Google Ngram viewer, an important tool used by researchers to track language use throughout history. From a report: I was able to find the AI-generated books with the same method we've previously used to find AI-generated Amazon product reviews, papers published in academic journals, and online articles. Searching Google Books for the term "As of my last knowledge update," which is associated with ChatGPT-generated answers, returns dozens of books that include that phrase. Some of the books are about ChatGPT, machine learning, AI, and other related subjects and include the phrase because they are discussing ChatGPT and its outputs. These books appear to be written by humans. However, most of the books in the first eight pages of results turned up by the search appear to be AI-generated and are not about AI.

For example, the 2024 book Bears, Bulls, and Wolves: Stock Trading for the Twenty-Year-Old by Tristin McIver, bills itself as "a transformative journey into the world of stock trading" and "a comprehensive guide designed for beginners eager to unlock the mysteries of financial markets." In reality, it reads like ChatGPT-generated text with surface, Wikipedia-level analysis of complex financial events like Facebook's initial public offering or the 2008 financial crisis summed up in a few short paragraphs. [...] Other books appear to be outdated to the point of being useless at the time they are published because they are generated with a version of ChatGPT with an old "knowledge update."

The Matrix

New 'Matrix' Movie in Works (deadline.com) 215

Deadline: Drew Goddard, the Oscar-nominated screenwriter of The Martian who also directed The Cabin in the Woods, has been set to write and direct a new Matrix movie at Warner Bros. The franchise's original co-scribe and co-director Lana Wachowski is executive producing. It's still early days in regards to whether core cast members Keanu Reeves, Carrie Anne-Moss, Laurence Fishburne, Hugo Weaving and Jada Pinkett Smith are coming back.

Goddard will produce with partner Sarah Esberg (Moonlight, If Beale Street Could Talk) via their Goddard Textiles banner. "Drew came to Warner Bros with a new idea that we all believe would be an incredible way to continue the Matrix world, by both honoring what Lana and Lilly began over 25 years ago and offering a unique perspective based on his own love of the series and characters," said Jesse Ehrman, Warner Bros Motion Pictures President of Production. "The entire team at Warner Bros Discovery is thrilled for Drew to be making this new Matrix film, adding his vision to the cinematic canon the Wachowskis spent a quarter of a century building here at the studio."

Businesses

Telegram Challenges Meta With the Launch of New 'Business' Features, Revenue-Sharing (techcrunch.com) 6

Telegram is enhancing its platform for businesses with the introduction of Telegram Business, offering specialized features like customizable start pages, business hours, and chat management tools, while also initiating an ad-revenue sharing model for public channels with at least 1,000 subscribers. "As a whole, the features could introduce competition into a market where Meta's apps like Messenger, Instagram and WhatsApp have a hold on business communication," reports TechCrunch. From the report: The features arrived just a couple of weeks after Telegram founder Pavel Durov told the Financial Times in an interview that he expected the app, which now has over 900 million users, to become profitable by 2025. Telegram Business is clearly part of that push, leading up to a future IPO, as it's an offering that requires users to subscribe to the paid Premium version to access. Telegram Premium is a bundle of upgraded features that cost $4.99 per month on iOS and Android and is also available as a three-month, six-month or one-year plan.

Telegram Business will likely give Premium another bump as it offers tools and features that can be used by business customers without needing to know how to code. For instance, businesses can choose to display their hours of operation and location on a map, and greet customers with a customized start page for empty chats where they can choose the text and sticker users see before beginning a conversation. Similar to features available on WhatsApp, Telegram Business will offer "quick replies," which are shortcuts to preset messages that support formatting, links, media, stickers and files.

Businesses can also set their own custom greeting messages for customers who engage with the company for the first time, and they can specify a period after which the greeting would be shown again. They can manage their availability using away messages while the business is closed or the owner is on vacation. Plus, the businesses can categorize their chats using colored labels based on what chat folders they're in, like delivery, claim, orders, VIP, feedback, or any others that make sense for them. In addition, businesses can create links to chat that will instantly open a Telegram chat with a request to take an action like tracking an order or reserving a table, among other things. Business customers can also add Telegram bots, including those from other tools or AI assistants, to answer messages on their behalf. The company said more features will roll out to Telegram Business in future updates.

Businesses

McKinsey is Offering Staff Pay, Career Coaching If They Leave Firm (businessinsider.com) 47

An anonymous reader shares a report: The management-consulting giant McKinsey is dangling career-coaching services and nine months' worth of pay to staffers keen on leaving the firm, the British newspaper The Times reported on Saturday. The Times reported that managers for McKinsey's UK offices could spend up to nine months searching for a job instead of working on client projects. Besides continuing to receive their salary, managers would have access to McKinsey's resources and career-coaching services, per The Times. But staffers would still have to leave McKinsey even if their job hunt proved unsuccessful.

The offer has been extended to managers working at McKinsey's US offices, though the pay duration could be different, The Times said, citing people familiar with the situation. A spokesperson for McKinsey did not confirm the specifics of The Times' reporting but told the outlet that the company's mission was to help staffers "grow into leaders, whether they stay at McKinsey or continue their careers elsewhere." "These actions are part of our ongoing effort to ensure our performance management and development approach is as effective as possible, and to do so in a caring and supportive way," the spokesperson continued.

Microsoft

Microsoft To Unbundle Office and Teams Following Years-long Criticism (techcrunch.com) 58

Microsoft will introduce a new version of Microsoft 365 and Office 365 subscription service that excludes Teams, unbundling a suite following scrutiny from the European Union regulator and complaints from rival Slack. From a report: The move follows Microsoft agreeing to sell Office 365 suite sans Microsoft Teams offering in the EU and Switzerland last year. The company introduced Teams as a complimentary offering to the Office 365 suite in 2017. Microsoft has enjoyed an unfair advantage by coupling the two offerings, many businesses have argued. Slack, owned by Salesforce, termed the move "illegal" alleging that Microsoft forced installation of Teams to customers through its market-dominant productivity suite and hid the true cost of the chat and video service.
Television

After Losing Billions, Disney+ Tries Integrating Hulu Into Its App (yahoo.com) 78

"Subscribers of both Disney+ and Hulu can now access Hulu content through the Disney+ app," reports the Los Angeles Times, "as the Burbank media and entertainment giant launched its one-app integration of the two streaming services Wednesday..." The move is part of Disney's plan to increase viewer engagement and reduce churn on Disney+, which has 111.3 million subscribers globally. Disney has lost billions on its direct-to-consumer business as it tries to compete with Netflix, but the company has told investors that its streaming segment will begin to turn a profit by the end of fiscal 2024. Streaming losses have been a key component of a nasty activist shareholder campaign ahead of next week's annual meeting.

Disney+ has typically served up family-friendly content and major brands such as Pixar, Star Wars and Marvel, whereas Hulu's offering has been the streaming home of more adult-oriented programming. Disney executives described the combined app experience as the most extensive technical advancement to the Disney+ streaming platform since it launched in November 2019... The price of the bundle plan starts at $9.99 with ads... Upgrading to the bundle of Hulu on Disney+ will start at $2 more per month, Disney said.

AT&T

AT&T Says Data From 73 Million Customers Has Leaked Onto the Dark Web (cnn.com) 21

Personal data from 73 million AT&T customers has leaked onto the dark web, reports CNN — both current and former customers.

AT&T has launched an investigation into the source of the data leak... In a news release Saturday morning, the telecommunications giant said the data was "released on the dark web approximately two weeks ago," and contains information such as account holders' Social Security numbers. ["The information varied by customer and account," AT&T said in a statement, " but may have included full name, email address, mailing address, phone number, social security number, date of birth, AT&T account number and passcode."]

"It is not yet known whether the data ... originated from AT&T or one of its vendors," the company added. "Currently, AT&T does not have evidence of unauthorized access to its systems resulting in exfiltration of the data set."

The data seems to have been from 2019 or earlier. The leak does not appear to contain financial information or specifics about call history, according to AT&T. The company said the leak shows approximately 7.6 million current account holders and 65.4 million former account holders were affected.

CNN says the first reports of the leak came two weeks ago from a social media account claiming "the largest collection of malware source code, samples, and papers. Reached for a comment by CNN, AT&T had said at the time that "We have no indications of a compromise of our systems."

AT&T's web site now includes a special page with an FAQ — and the tagline that announces "We take cybersecurity very seriously..."

"It has come to our attention that a number of AT&T passcodes have been compromised..."

The page points out that AT&T has already reset the passcodes of "all 7.6 million impacted customers." It's only further down in the FAQ that they acknowledge that the breach "appears to be from 2019 or earlier, impacting approximately 7.6 million current AT&T account holders and 65.4 million former account holders." Our internal teams are working with external cybersecurity experts to analyze the situation... We encourage customers to remain vigilant by monitoring account activity and credit reports. You can set up free fraud alerts from nationwide credit bureaus — Equifax, Experian, and TransUnion. You can also request and review your free credit report at any time via Freecreditreport.com...

We will reach out by mail or email to individuals with compromised sensitive personal information and offering complimentary identity theft and credit monitoring services... If your information was impacted, you will be receiving an email or letter from us explaining the incident, what information was compromised, and what we are doing for you in response.

Google

Google Podcasts Service Shuts Down in the US Next Week (bleepingcomputer.com) 6

U.S. users have just a few more days to make the transition from Google Podcasts as the company moves forward with the process of discontinuing the service globally. From a report: Google is currently sending in-app notifications to users in the U.S. that starting April 2nd they will no longer be able to use Google Podcasts and is recommending to export subscriptions to YouTube Music. The Google Podcasts streaming service launched six years ago. It's app has more than 500 million downloads on Google Play and apart from offering a large selection of podcasts it also allows subscribing to favorite channels, downloading and playing on various devices. The service integrates with Google's ecosystem, providing users with personalized recommendations based on interests, listening history, and preferences.
Businesses

Amazon Fined In Poland For Dark Pattern Design Tricks (techcrunch.com) 16

Poland has fined Amazon close to $8 million for misleading consumers about the conclusion of sales contracts on its online marketplace. The sanction "also calls out the e-commerce giant for deceptive design elements which may inject a false sense of urgency into the purchasing process and mislead shoppers about elements like product availability and delivery dates," reports TechCrunch. From the report: The country's consumer and competition watchdog, the UOKiK, has been looking into complaints about Amazon's sales practices since September 2021, following complaints from shoppers, including some who did not receive their purchases. The authority opened a formal investigation into Amazon's practices in February 2023. Wednesday's sanction is the conclusion of that probe. The UOKiK found consumers who ordered products on Amazon could have their purchases subsequently cancelled by the tech giant as it does not treat the moment of purchase as the conclusion of a sales contract, despite sending consumers confirmation of their order -- even after consumers have paid for the product. For Amazon, the conclusion of a sales contract only occurs once it has sent information about the actual shipment. [...]

Its enforcement also calls out Amazon for using deceptive design to encourage shoppers to click buy by presenting misleading information about product availability and delivery windows -- such as by listing how many items were in stock to be purchased and providing a countdown clock to order an item in order to get it on a particular delivery date. Its investigation found Amazon does not always meet these deadlines for orders, nor ship products immediately as they may be out of stock despite claims to the contrary shown to consumers. "Amazon treats the data it provides on availability and shipping date as indicative but the way it is presented does not indicate this," the UOKiK noted, adding: "Consumers can only find out about this in the terms of sale on the platform."

While Amazon does offer a delivery guarantee -- offering a refund if items do not ship within the stated time -- the authority found it failed to provide consumers with information about the rules of this service before placing an order. It only offers details at the order summary stage. And then only "if the consumer decides to read the subsequent links specifying delivery details." Shoppers who did not follow the link to read more may not have been aware of their right to apply for and receive a refund from Amazon if there is a delay in shipment. It also found the e-commerce giant failed to provide information about the "Delivery Guarantee" in the purchase confirmation sent to shoppers.
Amazon said it will appeal the fine. The company also writes: "Fast and reliable delivery across a wide selection of products is a top priority for us, and Amazon.pl has millions of items available with fast and free Prime delivery. Since launching Amazon.pl in 2021, we have continuously invested and worked hard to provide customers with a clear, reliable delivery promise at check out, and while the vast majority of our deliveries arrive on time, customers can contact us in the rare event that they experience a delay or order cancellation, and we will make it right.

Over the last year, we have collaborated with the Office of Competition and Consumer Protection (UOKiK), and proposed multiple voluntary amendments to continue to improve the customer experience on Amazon.pl. We strictly follow legal standards in all countries where we operate and we strongly disagree with the assessment and penalty issued by the UOKiK. We will appeal this decision."
Businesses

Telegram's Peer-to-Peer Login System is a Risky Way To Save $5 a Month 32

Telegram is offering a new way to earn a premium subscription free of charge: all you have to do is volunteer your phone number to relay one-time passwords (OTP) to other users. This, in fact, sounds like an awful idea -- particularly for a messaging service based around privacy. From a report: X user @AssembleDebug spotted details about the new program on the English-language version of a popular Russian-language Telegram information channel. Sure enough, there's a section in Telegram's terms of service outlining the new "Peer-to-Peer Login" or P2PL program, which is currently only offered on Android and in certain (unspecified) locations. By opting in to the program, you agree to let Telegram use your phone number to send up to 150 texts with OTPs to other users logging in to their accounts. Every month your number is used to send a minimum number of OTPs, you'll get a gift code for a one-month premium subscription. Boy does this sound like a bad idea, starting with the main issue: your phone number is seen by the recipient every time it's used to send an OTP.
Social Networks

Reddit May Need To Ramp Up Spending On Content Moderation, Analysts Say (reuters.com) 140

An anonymous reader quotes a report from Reuters: Reddit will need to spend heavily on content moderation as it may face greater scrutiny as a public company, analysts said, threatening its longstanding policy of relying on an army of volunteers to maintain order on its platform. The newly listed company warned in its initial public offering (IPO) paperwork that its unique approach to content moderation can sometimes subject it to disruptions like in 2023, when several moderators protested against its decision to charge third-party app developers for access to its data.

Depending on volunteers is not sustainable, given the regulatory scrutiny that the company will now face, said Julian Klymochko, CEO of alternative investment solutions firm Accelerate Financial Technologies. "It's like relying on unpaid labor when the company has nearly a billion dollars in revenue," he added. Reddit reported revenue of $804 million in 2023, according to an earlier filing. Reddit will need to make substantial investments in trust and safety, which could lead to a "dramatic" rise in expenses, Klymochko said. Josh White, former economist at the Securities and Exchange Commission and assistant professor of finance at Vanderbilt University, also said that banking on free volunteers is Reddit's biggest risk. The company would need to ramp up spending on anti-misinformation efforts especially as the U.S. prepares for the presidential election later this year, White said.
"We believe our approach is the most sustainable and scalable moderation model that exists online today. We are continually investing in and iterating on new tools and policies to improve our internal capabilities," the Reddit spokesperson said.
Ubuntu

Ubuntu Linux LTS Releases Get Up To 12 Years of Support (betanews.com) 60

BrianFagioli shares a report from BetaNews: Canonical, the company behind the popular Ubuntu operating system, has announced a significant extension to the support lifecycle of its long-term support (LTS) releases. The new paid Legacy Support add-on for Ubuntu Pro subscribers will now provide security maintenance and support for an impressive 12 years, extending the previous 10-year commitment. This enhancement is available starting with Ubuntu 14.04 LTS and will benefit both enterprises and individual users who rely on the stability and security of Ubuntu for their critical systems. By default, Ubuntu LTS releases receive five years of standard security maintenance. However, with Ubuntu Pro, this is expanded to 10 years for both the main and universe repositories, offering access to a broader range of secure open-source software.

The Legacy Support add-on further extends this period by an additional two years, ensuring that organizations can maintain their systems with the latest security patches and support services without the immediate need to upgrade to a newer OS version. This is particularly beneficial for large, established production systems where transitioning to a new OS can be a complex and risky endeavor due to the potential need to update the entire software stack. The extended support includes continuous vulnerability management for critical, high, and medium Common Vulnerabilities and Exposures (CVEs) across all software packages shipped with Ubuntu. Canonical's security team actively backports crucial fixes to all supported Ubuntu LTS releases, providing peace of mind to users and enterprises. In addition to security maintenance, the Legacy Support add-on also offers phone and ticket support, enhancing Canonical's commitment to assisting customers with troubleshooting, break fixes, bug fixes, and guidance.

Books

Has 'Silicon Valley-style Startup Disruption' Arrived for Book Publishing? (thebaffler.com) 37

The Baffler says a new publishing house launched earlier this month "brings Silicon Valley-style startup disruption to the business of books."

Authors Equity has "a tiny core staff, offloading its labor to a network of freelancers," and like a handful of other publishers "is upending the way that authors get paid, eschewing advances and offering a higher percentage of profits instead." It is worth watching because its team includes several of the most important publishing people of the twenty-first century. And if it works, it will offer a model for tightening the connection between book culture and capitalism, a leap forward for the forces of efficiency and the fantasies of frictionless markets, ushering in a world where literature succeeds if and only if it sells....

Authors Equity's website presents its vision in strikingly neoliberal corporatespeak. The company has four Core Principles: Aligned Incentives; Bespoke Teams; Flexibility and Transparency; and Long-Term Collaboration. What do they mean by these MBA keywords? Aligned Incentives is explained in the language of human capital: "Our profit-share model rewards authors who want to bet on themselves." Authors, that is, take on more of the financial risk of publication. At a traditional publishing house, advances provide authors with guaranteed cash early in the process that they can use to live off while writing. With Authors Equity, nothing is guaranteed and nothing given ahead of time; an author's pay depends on their book's profits.

In an added twist, "Profit participation is also an option for key members of the book team, so we're in a position to win together." Typically, only an author's agent's income is directly tied to an author's financial success, but at Authors Equity, others could have a stake. This has huge consequences for the logic of literary production. If an editor, for example, receives a salary and not a cut of their books' profits, their incentives are less immediately about profit, offering more wiggle room for aesthetic value. The more the people working on books participate in their profits, the more, structurally, profit-seeking will shape what books look like.

"Bespoke Teams" is a euphemism for gigification. With a tiny initial staff of six, Authors Equity uses freelance workers to make books, unlike traditional publishers, which have many employees in many departments... Their fourth Core Principle — Long-Term Collaboration — addresses widespread frustration with a systemic problem in traditional publishing: the fetishization of debut authors who receive decent or better advances, fail to earn out, and then struggle to have a career. It's a real problem and one where authors' interests and capitalist rationalization are, as it were, aligned. Authors Equity sees that everyone might profit when an author can build a readership and develop their skill.

The article concludes with this prediction. "It's not impossible that we'll look back in twenty years and see its founding as auguring the beginning of the startup age in publishing."

Food for thought... Pulp-fiction mystery writer Mickey Spillane once said, "I'm a writer, not an author. The difference is, a writer makes money."
Piracy

Dutch Court Orders ISP To Block 'Anna's Archive' and 'LibGen' (torrentfreak.com) 26

The Dutch pirate site blocklist has expanded with two new targets, shadow libraries Anna's Archive and Library Genesis. The court order was obtained by local anti-piracy group BREIN, acting on behalf of major publishers. Interestingly, Z-Library isn't listed in the blocking order, despite explicit warnings previously issued by BREIN. TorrentFreak reports: All blocking requests were submitted by local anti-piracy group BREIN, which acts on behalf of rightsholders. These include the major Hollywood studios but BREIN's purview is much broader. Last week, it obtained the latest blocking order, this time on behalf of the publishing industry. Issued by the Rotterdam District Court, the order requires a local Internet provider to block two well-known shadow libraries; "Anna's Archive" and "Library Genesis" (LibGen). News of this new court order was shared by BREIN which notes that both sites were found to make copyright infringing works available on a large scale. At the time of writing, a published copy is not available but, based on the covenant, all large Internet providers are expected to implement the blockades. "These types of illegal shadow libraries are very harmful. The only ones who benefit are the anonymous owners of these illegal services. Authors and publishers see no return on their efforts and investments," BREIN comments. "Copyright holders deserve an honest living. There are numerous legal ways to obtain ebooks. If desired, this can also be done very cheaply; through the library for example."

The Rotterdam court issued a so-called 'dynamic' blocking order, meaning that rightsholders can update the targeted domains and IP addresses if the sites switch to new ones in the future. This also applies to mirrors and increases the blockades' effectiveness, as there is no need to return to court. Previously, Internet provider KPN challenged these 'dynamic' orders, suggesting that they are too broad. The court rejected this argument, however, noting that the process hasn't led to any major problems thus far. BREIN further reports that Google is voluntarily offering a helping hand. As reported in detail previously, the search engine removes blocked domains from its local search results after being notified about an ISP blocking order. "The effectiveness of the blocking measure is increased because Google cooperates in combating these infringements and, at the request of BREIN, completely removes all references to websites that are blocked by order of the Dutch court from the search results," BREIN writes.

Software

Cloud Software Group Snubs GPL Obligations, Say Critics (theregister.com) 31

An anonymous reader shares a report: Even if you decide to stop offering free editions, you don't get to stop providing the source code to FOSS, users of JasperReports Server are complaining. Cloud Software Group -- the post-merger offspring of Citrix and Tibco -- has decided to withdraw the community edition of its JasperReports Server. Now all you can get is the commercial edition, with a 30-day free trial. Effectively, this seems like a similar tactic to Red Hat's unpopular changes to the way that the RHEL source code is distributed. Some of the JasperReports source code is still on Github, but not everything. The JasperSoft community website has the grumbling of unhappy users -- as does Reddit.

One user on the community website commented: "Are you aware Jasper Server CE was under the Affero GPL, and you can't delete everything? "You cannot just change the license of the previous versions and call it a day. I mean, we the users, have the right to fork it using the same license or a compatible one," the user protested. JasperSoft has been developing its reporting tools in the open for well over a decade -- the Reg was reporting on it nearly twenty years ago. Tibco acquired the company for some $185 million in 2014. We're not certain that things are going very well for the new outfit. Early last year, the merger was followed by a round of job losses, and the company has also more recently doubled its prices on some offerings.

United States

US Sues Apple, Alleges Tech Giant Exploits Illegal Monopoly (wsj.com) 125

The Justice Department sued Apple on Thursday, alleging the tech giant blocked software developers and mobile gaming companies from offering better options on the iPhone, resulting in higher prices for consumers. WSJ: The government's antitrust complaint, filed in a New Jersey federal court, alleges Apple used its control of the iPhone to prevent competitors from offering innovative services such as digital wallets and limited the functionality of hardware products that compete with Apple's own devices. The suit also claims that Apple makes it difficult for users to switch to devices that don't use Apple's operating system, such as Android smartphones.

"Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. Apple said it plans to vigorously defend against the lawsuit. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," an Apple spokesman said in a statement. "If successful, it would hinder our ability to create the kind of technology people expect from Apple -- where hardware, software, and services intersect." The case against Apple is the last shoe to drop on the big four tech giants by U.S. antitrust officials.

Businesses

Reddit Prices IPO At $34 Per Share, the Top of the Range (techcrunch.com) 54

An anonymous reader writes: Reddit priced its stock on Wednesday at $34 a share, the top of the anticipated range, a signal that investors are excited about the company's IPO on Thursday. The social media giant raised nearly $500 million in the offering. Excluding employee stock options, the 19-year old company's valuation will start at $5.4 billion, a far cry from its last private market value of $10 billion, set in August 2021, the top of the last tech markets boom. The stock, which is the most anticipated offering of the year so far, will debut on New York Stock Exchange on Thursday with the ticker symbol "RDDT."
Google

Google Reshapes Fitbit In Its Image As Users Allege 'Planned Obsolescence' (arstechnica.com) 32

An anonymous reader quotes a report from Ars Technica: Google closed its Fitbit acquisition in 2021. Since then, the tech behemoth has pushed numerous changes to the wearable brand, including upcoming updates announced this week. While Google reshapes its fitness tracker business, though, some long-time users are regretting their Fitbit purchases and questioning if Google's practices will force them to purchase their next fitness tracker elsewhere.

As is becoming common practice with consumer tech announcements of late, Google's latest announcements about Fitbit seemed to be trying to convince users of the wonders of generative AI and how that will change their gadgets for the better. In a blog post yesterday, Dr. Karen DeSalvo, Google's chief health officer, announced that Fitbit Premium subscribers would be able to test experimental AI features later this year (Google hasn't specified when). "You will be able to ask questions in a natural way and create charts just for you to help you understand your own data better. For example, you could dig deeper into how many active zone minutes... you get and the correlation with how restorative your sleep is," she wrote. DeSalvo's post included an example of a user asking a chatbot if there was a connection between their sleep and activity and said that the experimental AI features will only be available to "a limited number of Android users who are enrolled in the Fitbit Labs program in the Fitbit mobile app."

Fitbit is also working with the Google Research team and "health and wellness experts, doctors, and certified coaches" to develop a large language model (LLM) for upcoming Fitbit mobile app features that pull data from Fitbit and Pixel devices, DeSalvo said. In a blog post yesterday, Yossi Matias, VP of engineering and research at Google, said Google wants to use the LLM to add personalized coaching features, such as the ability to look for sleep irregularities and suggest actions "on how you might change the intensity of your workout." Google's Fitbit is building the LLM on Gemini models that are tweaked on de-identified data from unspecified "research case studies," Matias said, adding: "For example, we're testing performance using sleep medicine certification exam-like practice tests." Other recent changes to Fitbit include a name tweak from Fitbit by Google, to Google Fitbit, as spotted by 9to5Google this week.
Charge 5 users are especially concerned after users noticed their devices suddenly stopped holding a charge after a December firmware update was pushed. The problem has persisted with Google offering no solution other than offer discounts or, if the device was within its warranty period, a replacement.

"This is called planned obsolescence. I'll be upgrading to a watch style tracker from a different company. I wish Fitbit hadn't sold out to Google," a forum user going by Sean77024 wrote on Fitbit's support forum yesterday. "Others, like 2MeFamilyFlyer, have also accused Fitbit of planning Charge 5 obsolescence," notes Ars. "2MeFamilyFlyer said they're seeking a Fitbit alternative."
Technology

Ethereum Foundation Under Investigation by 'State Authority' (coindesk.com) 29

CoinDesk: The Ethereum Foundation -- the Swiss non-profit organization at the heart of the Ethereum ecosystem -- is under investigation by an unnamed "state authority," according to the group's website's GitHub repository. The scope of the investigation and its focus was unknown at press time. According to the GitHub commit dated Feb. 26, 2024, "we have received a voluntary enquiry from a state authority that included a requirement for confidentiality."

The investigation comes during a time of change for Ethereum's technology. Ethereum is the second-largest blockchain by market cap after Bitcoin, launching in 2015 following an initial coin offering for the chain's native ETH token. Earlier this month, the chain underwent a major technical upgrade, dubbed Dencun, designed to bring down transaction costs for users of Ethereum-based layer-2 platforms.

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