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."

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.

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.

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.

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."

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."

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.

An anonymous reader shares a report: Reddit, the social media platform gearing up for an initial public offering this week, said Nokia has accused it of infringing some of their patents. Nokia Technologies, the company's licensing business, sent Reddit a letter on Monday with the claims, and Reddit is evaluating them, according to a filing made Tuesday. Nokia's claims come as Reddit prepares for an initial public offering in an effort to raise hundreds of millions of dollars. The company has been working toward a listing for years, and its public market debut this week is set to become a high-profile addition to the year's roster of newly and soon-to-be public companies. Reddit said in the filing: "On March 18, 2024, Nokia sent us a letter indicating they believed that Reddit infringes certain of their patents. We will evaluate their claims. As we face increasing competition and become increasingly high profile, the possibility of receiving more intellectual property claims against us grows.

In addition, various 'non-practicing entities,' and other intellectual property rights holders have asserted in the past, and may attempt to assert in the future, intellectual property claims against us and have sought, and may attempt to seek in the future, to monetize the intellectual property rights they own to extract value through licensing arrangements or other settlements."

"Until recently, Linux kernel developers have been the ones keeping long-term support (LTS) versions of the Linux kernel patched and up to date," writes ZDNet.

"Then, because it was too much work with too little support, the Linux kernel developers decided to no longer support the older kernels." Greg Kroah-Hartman, the Linux kernel maintainer for the stable branch, announced that the Linux 4.14.336 release was the last maintenance update to the six-year-old LTS Linux 4.14 kernel series. It was the last of the line for 4.14. Or was it?

Kroah-Hartman had stated, "All users of the 4.14 kernel series must upgrade." Maybe not. OpenELA, a trade association of the Linux distributors CIQ (the company backing Rocky Linux), Oracle, and SUSE, is now offering — via its kernel-lts — a new lease on life for 4.14.

This renewed version, tagged with the following format — x.y.z-openela — is already out as v4.14.339-openela. The OpenELA acknowledges the large debt they owe to Kroah-Hartman and Sasha Levin of the Linux Kernel Stable project but underlines that their project is not affiliated with them or any of the other upstream stable maintainers. That said, the OpenELA team will automatically pull most LTS-maintained stable tree patches from the upstream stable branches. When there are cases where patches can't be applied cleanly, OpenELA kernel-lts maintainers will deal with these issues. In addition, a digest of non-applied patches will accompany each release of its LTS kernel, in mbox format.
"The OpenELA kernel-lts project is the first forum for enterprise Linux distribution vendors to pool our resources," an Oracle Linux SVP tells ZDNet, "and collaborate on those older kernels after upstream support for those kernels has ended." And the CEO of CIQ adds that after community support has ended, "We believe that open collaboration is the best way to maintain foundational enterprise infrastructure.

"Through OpenELA, vendors, users, and the open source community at large can work together to provide the longevity that professional IT organizations require for enterprise Linux."

When it comes to TikTok, "The Chinese government is signaling that it won't allow a forced sale..." reported the Wall Street Journal Friday, "limiting options for the app's owners as buyers begin lining up to bid for its U.S. operations..."

"They have also sent signals to TikTok's owner, Beijing-based ByteDance, that company executives have interpreted as meaning the government would rather the app be banned in the U.S. than be sold, according to people familiar with the matter."

But that's not always how it plays out. McClatchy notes that in 2019 the Committee on Foreign Investment in the U.S. ordered Grindr's Chinese owners to relinquish control of Grindr. "A year later, the Chinese owners voluntarily complied and sold the company to San Vicente Acquisition, incorporated in Delaware, for around $608 million, according to Forbes."

And CNN reminds us that the world's most-populous country already banned TikTok more than three years ago: In June 2020, after a violent clash on the India-China border that left at least 20 Indian soldiers dead, the government in New Delhi suddenly banned TikTok and several other well-known Chinese apps. "It's important to remember that when India banned TikTok and multiple Chinese apps, the US was the first to praise the decision," said Nikhil Pahwa, the Delhi-based founder of tech website MediaNama. "[Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it 'will boost India's sovereignty.'"

While India's abrupt decision shocked the country's 200 million TikTok users, in the four years since, many have found other suitable alternatives. "The ban on Tiktok led to the creation of a multibillion dollar opportunity ... A 200 million user base needed somewhere to go," said Pahwa, adding that it was ultimately American tech companies that seized the moment with their new offerings... Within a week of the ban, Meta-owned Instagram cashed in by launching its TikTok copycat, Instagram Reels, in India. Google introduced its own short video offering, YouTube Shorts. Homegrown alternatives such as MX Taka Tak and Moj also began seeing a rise in popularity and an infux in funding. Those local startups soon fizzled out, however, unable to match the reach and financial firepower of the American firms, which are flourishing.
In fact, at the time India "announced a ban on more than 50 Chinese apps," remembers the Washington Post, adding that Nepal also announced a ban on TikTok late last year.

Their article points out that TikTok has also been banned by top EU policymaking bodies, while "Government staff in some of the bloc's 27 member states, including Belgium, Denmark and the Netherlands, have also been told not to use TikTok on their work phones." Canada banned TikTok from all government-issued phones in February 2023, after similar steps in the United States and the European Union.... Britain announced a TikTok ban on government ministers' and civil servants' devices last year, with officials citing the security of state information. Australia banned TikTok from all federal government-owned devices last year after seeking advice from intelligence and security agencies.
A new EFF web page warns that America's new proposed ban on TikTok could also apply to apps like WeChat...

With funding from NASA, researchers from Villanova University have obtained a never-before-seen view of the central engine at the heart of our galaxy. Space.com reports: The new map of this central region of the Milky Way, which took four years to assemble, reveals the relationship between magnetic fields at the heart of our galaxy and the cold dust structures that dwell there. This dust forms the building blocks of stars, planets, and, ultimately, life as we know it. The central engine of the Milky Way drives this process. That means a clearer picture of dust and magnetic interactions builds a better understanding of the Milky Way and our place within it. The team's findings also have implications beyond our galaxy, offering glimpses of how dust and magnetic fields interact in the central engines of other galaxies.

"The center of the Milky Way and most of the space between stars is filled with a lot of dust, and this is important for our galaxy's life cycle," David Chuss, research team leader and a physics professor at Villanova University, told Space.com. "What we looked at was light emitted from these cool dust grains produced by heavy elements forged in stars and dispersed when those stars die and explode." [...] Chuss and colleagues received funding from NASA to investigate this dusty central zone using the Stratospheric Observatory for Infrared Astronomy (SOFIA), which was a telescope that circled the globe at an altitude of 45,000 feet (13,716 meters) aboard a Boeing 747 plane. The project's Far-Infrared Polarimetric Large Area CMZ Exploration (FIREPLACE) created an infrared map that spans around 500 light-years across the center of the Milky Way over nine flights. Using measurements of the polarization of the radiation emitted from dust that is aligned with magnetic fields, the intricate structure of those magnetic fields themselves was inferred by the team. This was then overlaid onto a three-color map that shows warm dust with a pink hue and cool dust clouds in blue. The image also shows radio-wave-emitting filaments in yellow.

"This is a journey, not a destination, but what we've found is this is a very complicated thing. The directions of the magnetic field vary all across the clouds at the center of the Milky Way," Chuss explained. "This is the first step in trying to figure out how the field that we see in the radiowaves across these large organized filaments may relate to the rest of the dynamics of the center of the Milky Way." Chuss explained that this complicated picture of magnetic fields was something that he and the FIREPLACE team had expected to see with the new SOFIA map; the observations agreed with smaller-scale infrared and radio wave observations previously made of the heart of the Milky Way. Where this new map, however, really comes into its own is the sheer scale. It manages to reveal some never-before mapped regions. The fine detail woven into it is stunning as well. A preprint version of the SOFIA data is available on arXiv.

Days before Reddit's upcoming initial public offering (IPO), the company announced that the FTC has launched an inquiry into the company's licensing of user data to AI companies. Reddit says that it's "not surprised" by the FTC's inquiry, given the novel nature of these agreements. Axios reports: Reddit says it received a letter on Thursday, March 14, in which the FTC said it's "conducting a non-public inquiry focused on our sale, licensing, or sharing of user-generated content with third parties to train AI models." The FTC also is expected to request a meeting with Reddit, plus various documents and information. Reddit isn't the only company receiving these so-called "hold letters," according to a former FTC official who spoke with Axios on background.

New emails from before the launch of the Epic Games Store in 2018 show just how angry Epic CEO Tim Sweeney was with the "assholes" at companies like Valve and Apple for squeezing "the little guy" with what he saw as inflated fees. "The emails, which came out this week as part of Wolfire's price-fixing case against Valve (as noticed by the GameDiscoverCo newsletter), confront Valve managers directly for platform fees Sweeney says are 'no longer justifiable,'" writes Ars Technica's Kyle Orland. "They also offer a behind-the-scenes look at the fury Sweeney and Epic would unleash against Apple in court proceedings starting years later. From the report: The first mostly unredacted email chain from the court documents, from August 2017 (PDF), starts with Valve co-founder Gabe Newell asking Sweeney if there is "anything we [are] doing to annoy you?" That query was likely prompted by Sweeney's public tweets at the time questioning "why Steam is still taking 30% of gross [when] MasterCard and Visa charge 2-5% per transaction, and CDN bandwidth is around $0.002/GB." Later in the same thread, he laments that "the internet was supposed to obsolete the rent-seeking software distribution middlemen, but here's Facebook, Google, Apple, Valve, etc." Expanding on these public thoughts in a private response to Newell, Sweeney allows that there was "a good case" for Steam's 30 percent platform fee "in the early days." But he also argues that the fee is too high now that Steam's sheer scale has driven down operating costs and made it harder for individual games to get as much marketing or user acquisition value from simply being available on the storefront.

Sweeney goes on to spitball some numbers showing how Valve's fees are contributing to the squeeze all but the biggest PC game developers were feeling on their revenues: "If you subtract out the top 25 games on Steam, I bet Valve made more profit from most of the next 1,000 than the developer themselves made. These guys are our engine customers and we talk to them all the time. Valve takes 30% for distribution; they have to spend 30% on Facebook/Google/Twitter [user acquisition] or traditional marketing, 10% on server, 5% on engine. So, the system takes 75% and that leaves 25% for actually creating the game, worse than the retail distribution economics of the 1990's." Based on experience with Fortnite and Paragon, Sweeney estimates that the true cost of distribution for PC games that sell for $25 or more in Western markets "is under 7% of gross." That's only slightly lower than the 12 percent take Epic would establish for its own Epic Games Store the next year.

The second email chain (PDF) revealed in the lawsuit started in November 2018, with Sweeney offering Valve a heads-up on the impending launch of the Epic Games Store that would come just weeks later. While that move was focused on PC and Mac games, Sweeney quickly pivots to a discussion of Apple's total control over iOS, the subject at the time of a lawsuit whose technicalities were being considered by the Supreme Court. Years before Epic would bring its own case against Apple, Sweeney was somewhat prescient, noting that "Apple also has the resources to litigate and delay any change [to its total App Store control] for years... What we need right now is enough developer, press, and platform momentum to steer Apple towards fully opening up iOS sooner rather than later." To that end, Sweeney attempted to convince Valve that lowering its own platform fees would hurt Apple's position and thereby contribute to the greater good: "A timely move by Valve to improve Steam economics for all developers would make a great difference in all of this, clearly demonstrating that store competition leads to better rates for all developers. Epic would gladly speak in support of such a move anytime!"

In a follow-up email on December 3, just days before the Epic Games Store launch, Sweeney took Valve to task more directly for its policy of offering lower platform fees for the largest developers on Steam. He offered some harsh words for Valve while once again begging the company to serve as a positive example in the developing case against Apple: "Right now, you assholes are telling the world that the strong and powerful get special terms, while 30% is for the little people. We're all in for a prolonged battle if Apple tries to keep their monopoly and 30% by cutting backroom deals with big publishers to keep them quiet. Why not give ALL developers a better deal? What better way is there to convince Apple quickly that their model is now totally untenable?" After being forwarded the message by Valve's Erik Johnson, Valve COO Scott Lynch simply offered up a sardonic "You mad bro?"

Longtime Slashdot reader ahbond shares a report from VentureBeat: Today, Cognition, a recently formed AI startup backed by Peter Thiel's Founders Fund and tech industry leaders including former Twitter executive Elad Gil and Doordash co-founder Tony Xu, announced a fully autonomous AI software engineer called "Devin." While there are multiple coding assistants out there, including the famous Github Copilot, Devin is said to stand out from the crowd with its ability to handle entire development projects end-to-end, right from writing the code and fixing the bugs associated with it to final execution. This is the first offering of this kind and even capable of handling projects on Upwork, the startup has demonstrated. [...]

In a blog post today on Cognition's website, Scott Wu, the founder and CEO of Cognition and an award-winning sports coder, explained Devin can access common developer tools, including its own shell, code editor and browser, within a sandboxed compute environment to plan and execute complex engineering tasks requiring thousands of decisions. The human user simply types a natural language prompt into Devin's chatbot style interface, and the AI software engineer takes it from there, developing a detailed, step-by-step plan to tackle the problem. It then begins the project using its developer tools, just like how a human would use them, writing its own code, fixing issues, testing and reporting on its progress in real-time, allowing the user to keep an eye on everything as it works. [...]

According to demos shared by Wu, Devin is capable of handling a range of tasks in its current form. This includes common engineering projects like deploying and improving apps/websites end-to-end and finding and fixing bugs in codebases to more complex things like setting up fine-tuning for a large language model using the link to a research repository on GitHub or learning how to use unfamiliar technologies. In one case, it learned from a blog post how to run the code to produce images with concealed messages. Meanwhile, in another, it handled an Upwork project to run a computer vision model by writing and debugging the code for it. In the SWE-bench test, which challenges AI assistants with GitHub issues from real-world open-source projects, the AI software engineer was able to correctly resolve 13.86% of the cases end-to-end -- without any assistance from humans. In comparison, Claude 2 could resolve just 4.80% while SWE-Llama-13b and GPT-4 could handle 3.97% and 1.74% of the issues, respectively. All these models even required assistance, where they were told which file had to be fixed. Currently, Devin is available only to a select few customers. Bloomberg journalist Ashlee Vance wrote a piece about his experience using it here.

"The Doom of Man is at hand," captions Slashdot reader ahbond. "It will start with the low-hanging Jira tickets, and in a year or two, able to handle 99% of them. In the short term, software engineers may become like bot farmers, herding 10-1000 bots writing code, etc. Welcome to the future."

Waymo will begin offering a robotaxi service to the public in Los Angeles this week and in Austin by the end of the year, the company's co-CEO Tekedra Mawakana said Wednesday at SXSW. From a report: The Alphabet company has been testing and validating its driverless vehicles across about 43 square miles around downtown, Barton Hills, Riverside, East Austin and Hyde Park neighborhoods. The announcement comes about a week after Waymo started letting its autonomous vehicles traverse Austin without a safety operator behind the wheel, a critical step before the company opens the program up to the public.

Opening up a robotaxi service means the public will be able to hail a ride in a driverless car via the Waymo One app. Importantly, Waymo will be able to charge for those rides. Austin will become the fourth city where Waymo operates a commercial driverless service. Waymo also operates a robotaxi service in Phoenix, San Francisco and soon Los Angeles.

A new startup called Cognition AI can turn a user's prompt into a website or video game. From a report: A new installment of Silicon Valley's most exciting game, Are We in a Bubble?!, has begun. This time around the game's premise hinges on whether AI technology is poised to change the world as the consumer internet did -- or even more dramatically -- or peter out and leave us with some advances but not a new global economy. This game isn't easy to play, and the available data points often prove more confusing than enlightening. Take the case of Cognition AI Inc.

You almost certainly have not heard of this startup, in part because it's been trying to keep itself secret and in part because it didn't even officially exist as a corporation until two months ago. And yet this very, very young company, whose 10-person staff has been splitting time between Airbnbs in Silicon Valley and home offices in New York, has raised $21 million from Peter Thiel's venture capital firm Founders Fund and other brand-name investors, including former Twitter executive Elad Gil. They're betting on Cognition AI's team and its main invention, which is called Devin.

Devin is a software development assistant in the vein of Copilot, which was built by GitHub, Microsoft and OpenAI, but, like, a next-level software development assistant. Instead of just offering coding suggestions and autocompleting some tasks, Devin can take on and finish an entire software project on its own. To put it to work, you give it a job -- "Create a website that maps all the Italian restaurants in Sydney," say -- and the software performs a search to find the restaurants, gets their addresses and contact information, then builds and publishes a site displaying the information. As it works, Devin shows all the tasks it's performing and finds and fixes bugs on its own as it tests the code being written. The founders of Cognition AI are Scott Wu, its chief executive officer; Steven Hao, the chief technology officer; and Walden Yan, the chief product officer. Hao was most recently one of the top engineers at Scale AI, a richly valued startup that helps train AI systems. Yan, until recently at Harvard University, requested that his status at the school be left ambiguous because he hasn't yet had the talk with his parents.

The openVertebrate (oVert) project is now complete, offering free online access to incredibly detailed 3D images of over 13,000 vertebrates. New Atlas reports: More than a research project, oVert was a collaboration between like-minded specialists across 25 institutions whose sole objective was to add value to museum collections by making them more widely available. Importantly, these images provide an insight that would only otherwise be obtained by destructive dissection and tissue sampling. Over the course of six years, project members took CT scans of more than half the classes, or genera, of all amphibians, reptiles, fishes, birds, and mammals, rendering models that provide an intimate look at the creatures, inside and out. [...]

For a working example of the incredible detail and information contained in oVert's images, head to Sketchfab to view a sample of interactive 3D models like the olive sea snake. Or go to MorphoSource to access the full oVert repository. [...] If you have 30 minutes to spare, check out the full video produced by the Florida Museum, which showcases a collection of diverse oVert specimens. A study presenting a summary of the oVert project was published in the journal BioScience.

An anonymous reader quotes a report from the New York Times: Kenn Dahl says he has always been a careful driver. The owner of a software company near Seattle, he drives a leased Chevrolet Bolt. He's never been responsible for an accident. So Mr. Dahl, 65, was surprised in 2022 when the cost of his car insurance jumped by 21 percent. Quotes from other insurance companies were also high. One insurance agent told him his LexisNexis report was a factor. LexisNexis is a New York-based global data broker with a "Risk Solutions" division that caters to the auto insurance industry and has traditionally kept tabs on car accidents and tickets. Upon Mr. Dahl's request, LexisNexis sent him a 258-page "consumer disclosure report," which it must provide per the Fair Credit Reporting Act. What it contained stunned him: more than 130 pages detailing each time he or his wife had driven the Bolt over the previous six months. It included the dates of 640 trips, their start and end times, the distance driven and an accounting of any speeding, hard braking or sharp accelerations. The only thing it didn't have is where they had driven the car. On a Thursday morning in June for example, the car had been driven 7.33 miles in 18 minutes; there had been two rapid accelerations and two incidents of hard braking.

According to the report, the trip details had been provided by General Motors -- the manufacturer of the Chevy Bolt. LexisNexis analyzed that driving data to create a risk score "for insurers to use as one factor of many to create more personalized insurance coverage," according to a LexisNexis spokesman, Dean Carney. Eight insurance companies had requested information about Mr. Dahl from LexisNexis over the previous month. "It felt like a betrayal," Mr. Dahl said. "They're taking information that I didn't realize was going to be shared and screwing with our insurance." In recent years, insurance companies have offered incentives to people who install dongles in their cars or download smartphone apps that monitor their driving, including how much they drive, how fast they take corners, how hard they hit the brakes and whether they speed. But "drivers are historically reluctant to participate in these programs," as Ford Motor put it in apatent application (PDF) that describes what is happening instead: Car companies are collecting information directly from internet-connected vehicles for use by the insurance industry.

Sometimes this is happening with a driver's awareness and consent. Car companies have established relationships with insurance companies, so that if drivers want to sign up for what's called usage-based insurance -- where rates are set based on monitoring of their driving habits -- it's easy to collect that data wirelessly from their cars. But in other instances, something much sneakier has happened. Modern cars are internet-enabled, allowing access to services like navigation, roadside assistance and car apps that drivers can connect to their vehicles to locate them or unlock them remotely. In recent years, automakers, including G.M., Honda, Kia and Hyundai, have started offering optional features in their connected-car apps that rate people's driving. Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis. Automakers and data brokers that have partnered to collect detailed driving data from millions of Americans say they have drivers' permission to do so. But the existence of these partnerships is nearly invisible to drivers, whose consent is obtained in fine print and murky privacy policies that few read. Especially troubling is that some drivers with vehicles made by G.M. say they were tracked even when they did not turn on the feature -- called OnStar Smart Driver -- and that their insurance rates went up as a result.

An article in Inc notes a "wild projection" in Reddit's SEC filing that Reddit's global market opportunity by 2027 is $1.4 trillion." Some of the numbers lead back to a single individual: Sam Altman. The co-founder and chief executive of ChatGPT-maker OpenAI owns an 8.7 percent stake in Reddit, more than its co-founder and CEO, Steve Huffman, who owns 3.3 percent... Altman, through various funds and holding companies he owns or manages, controls more than a million shares of Reddit at $60 million in aggregate purchase price — and holds more than 9 percent of voting rights...

Discussing Reddit's future, financial analyst and journalist Herb Greenberg recently told CNBC, "This is an AI play."
But the senior investing editor for Kiplinger.com argues that retail investors "may want to hold tight before rushing out to buy the Reddit IPO." While IPO stocks tend to have strong first-day showings, returns for the first year are generally weak, says the team of analysts at Trivariate Research, a market research firm based in New York. And since 2020, "the average IPO has lagged its industry average by 30% over the subsequent three years following its first closing price..."

Other commenters have noted that Reddit's allotment of shares to select Redditors could lower demand on the first day of trading, which would work against any IPO pop.
"Over the past few years, there have been a bunch of IPOs in the U.S. in which overhyped names enjoyed flashy stock-market debuts only to drop sharply soon after," notes the Street. Notable examples include Coinbase, which plummeted by almost 90% after its debut, Robinhood, still down 53% since its IPO, and Rivian, down over 91% since its debut. However, it's crucial to note that all of these IPOs occurred in 2021 amid market euphoria fueled by low interest rates, significant economic stimulus, and the lingering effects of the Covid-19 pandemic. Although the current macroeconomic landscape differs from three years ago, valuations of tech and growth stocks remain stretched.
Kiplingers.com concludes it "boils down to your own personal investing goals and risk tolerance. If you do decide to buy Reddit stock when it first begins trading, do so in a small amount that you can afford to lose."

But they also cite analysis from David Trainer, CEO of New Constructs, a research firm powered by artificial intelligence. "Reddit's IPO marks the return of the junk IPO," Trainer wrote in Forbes. "[The valuation] implies that Reddit will grow its user base to 26 times current levels, which would be nearly five times the size of [Snapchat-maker] Snap, and a highly unlikely feat. Reddit looks overvalued, and we think investors should pass on this IPO."

Trainer writes: [T]he company has never been profitable and should not be a publicly traded company... I think the company may never monetize its platform without angering its users and the entire premise of Reddit is user-generated content. This business model is inescapably built on a catch-22: make money or please users... Reddit looks overvalued, and I think investors should pass on this IPO.
Buyers and analysts told the site Marketing Brew "that they see the platform as nice-to-have, but that it is not an essential part of their media plans, like Meta or Google are." "They've always been solidly in the second or third tier of social networks," alongside Snap, Pinterest, and X, Brian Wieser, a former GroupM exec who's now author of the industry newsletter Madison and Wall, told Marketing Brew.
Yet Trainer notes that "98% of Reddit's revenue in 2023 came from third-party advertising on the site and 28% of all revenue came from ten customers," and "Reddit's cost of revenue, sales & marketing, general & administrative, and research & development costs were 117% of revenue in 2023."

Trainer concludes "Reddit is nowhere near breakeven. Reddit is an unprofitable social media company fighting for users."

Bloomberg adds that the subreddit r/WallStreetBets "has threatened to bet against the stock, with many people noting that the company still loses money two decades into its existence. (Reddit lost $90.8 million last year, down from $158.6 million the year before.)" Some have complained that the invitation to invest fails to make up for the unpaid labor they've invested making the site work... In 2021 the platform's WallStreetBets forum ignited a meme-stock frenzy, propelling skyward the stocks of nostalgic but struggling companies like GameStop Corp. and AMC Entertainment Holdings Inc. and sending shockwaves through the financial industry... When it goes public, the platform that invented meme stocks runs the risk of becoming one itself.

Reddit noted the possibility as a risk in its IPO filing. "Given the broad awareness and brand recognition of Reddit, including as a result of the popularity of r/wallstreetbets among retail investors," the company warned that its stock could "experience extreme volatility ... which could cause you to lose all or part of your investment if you are unable to sell your shares at or above the initial offering price."

Users on WallStreetBets got a kick out of the fact that the company listed the forum as a risk factor, posting about it with a sly smiling emoji...
Meanwhile, reports that marketers are infiltrating subreddits have been confirmed. Over 200 businesses have "integrated Reddit Pro into their digital strategies," reports Search Engine Land, including "well-known names such as Taco Bell, the NFL, and The Wall Street Journal...

"During the initial alpha testing phase with approximately 20 businesses, Reddit reported its Pro partners, on average, generated 11 additional posts and comments per month."

Astra Space, a California-based rocket company, has announced it will go private at a valuation significantly lower than its $2.1 billion debut in 2021. The company's market value is about $13 million at current levels. The company's co-founders, Chris Kemp and Adam London, will acquire all outstanding shares at $0.50 each, well below the current trading price of $0.80. Astra has faced challenges, with only two successful launches out of seven attempts of its Rocket 3 vehicle. The company pivoted to the larger Rocket 4 in 2022 but has yet to conduct test launches.

Astra faces competition from established players like Rocket Lab and Firefly, as well as new entrants such as ABL Space and Stoke Space. The company's future remains uncertain as it navigates a competitive small launch market, with SpaceX's Transporter missions offering lower prices by launching dozens of satellites simultaneously on its Falcon 9 booster.