Figma has filed to go public on the NYSE under the ticker "FIG," marking one of the most anticipated IPOs in recent years following its scrapped $20 billion acquisition by Adobe. CNBC reports: Revenue in the first quarter increased 46% to $228.2 million from $156.2 million in the same period a year ago, according to Figma's prospectus. The company recorded a net income of $44.9 million, compared to $13.5 million a year earlier. As of March 31, Figma had 1,031 customers contributing at least $100,000 a year to annual revenue, up 47% from a year earlier. Clients include Amazon Web Services, Google, Microsoft and Netflix. More than half of revenue comes from outside the U.S. Figma didn't say how many shares it plans to sell in the IPO. The company was valued at $12.5 billion in a tender offer last year, and in April it announced that it had confidentially filed for an IPO with the SEC. [...]

Figma was founded in 2012 by CEO Dylan Field, 33, and Evan Wallace, and is based in San Francisco. The company had 1,646 employees as of March 31. Before establishing Figma, Field spent over two years at Brown University, where he met Wallace. Field then took a Thiel Fellowship "to pursue entrepreneurial projects," according to the filing. The two-year program that Founders Fund partner Peter Thiel established in 2011 gives young entrepreneurs a $200,000 grant along with support from founders and investors, according to an online description. Field is the biggest individual owner of Figma, with 56.6 million Class B shares and 51.1% of voting power ahead of the IPO. He said in a letter to investors that it was time for Figma to buck the "trend of many amazing companies staying privately indefinitely." "Some of the obvious benefits such as good corporate hygiene, brand awareness, liquidity, stronger currency and access to capital markets apply," wrote Field. "More importantly, I like the idea of our community sharing in the ownership of Figma -- and the best way to accomplish this is through public markets."

As a public company, Field said investors should "expect us to take big swings," including through acquisitions.

In April, Figma bought the assets and team of an unnamed technology company for $14 million, according to the filing. They also registered over 13 million users per month, one-third of which are designers.

An anonymous reader quotes a report from TechCrunch: After 13 years of deploying robots into its warehouses, Amazon reached a new milestone. The tech behemoth now has 1 million robots in its warehouses, the company announced Monday. This one millionth robot was recently delivered to an Amazon fulfillment facility in Japan. That figure puts Amazon on track to reach another landmark: Its vast network of warehouses may soon have the same number of robots working as people, according to reporting from The Wall Street Journal. The WSJ also reported that 75% of Amazon's global deliveries are now assisted in some way by a robot. Amazon also unveiled a new generative AI model called DeepFleet, built using SageMaker and trained on its own warehouse data, which improves robotic fleet speed by 10% through more efficient route coordination.

Google will tell European Union antitrust regulators Tuesday that the bloc's Digital Markets Act is stifling innovation and harming European users and businesses. The tech giant faces charges under the DMA for allegedly favoring its own services like Google Shopping, Google Hotels, and Google Flights over competitors. Potential fines could reach 10% of Google's global annual revenue.

Google lawyer Clare Kelly will address a European Commission workshop, arguing that compliance changes have forced Europeans to pay more for travel tickets while airlines, hotels, and restaurants report losing up to 30% of direct booking traffic.

Tech enthusiast Matt Cole has created a comprehensive MicroSD card testing database, writing over 18 petabytes of data across nearly 200 cards since July 2023. Cole's "Great MicroSD Card Survey" uses eight machines running 70 card readers around the clock, writing 101 terabytes daily to test authenticity, performance, and endurance.

The 15,000-word report covering over 200 different cards reveals significant quality disparities. Name-brand cards purchased from Amazon performed markedly better than identical models from AliExpress, while cards with "fake flash" -- inflated capacity ratings -- performed significantly worse than authentic storage. Sandisk and Kingston cards averaged 4,634 and 3,555 read/write cycles before first error, respectively, while Lenovo cards averaged just 291 cycles. Some off-brand cards failed after only 27 cycles. Cole tested 51 cards to complete destruction during the endurance testing phase.

Tech companies are paying AI engineers unprecedented salaries as competition for talent intensifies, with some top engineers earning more than $10 million annually and typical packages ranging from $3 million to $7 million. OpenAI told staff this week it is seeking "creative ways to recognize and reward top talent" after losing key employees to rivals, despite offering salaries near the top of the market.

The move followed OpenAI CEO Sam Altman's claim that Meta had promised $100 million sign-on bonuses to the company's most high-profile AI engineers. Mark Chen, OpenAI's chief research officer, sent an internal memo saying he felt "as if someone has broken into our home and stolen something" after recent departures.

AI engineer salaries have risen approximately 50% since 2022, with mid-to-senior level research scientists now earning $500,000 to $2 million at major tech companies, compared to $180,000 to $220,000 for senior software engineers without AI experience.

An anonymous reader quotes a report from TechCrunch: The U.S. Department of Justice announced on Monday that it had taken several enforcement actions against North Korea's money-making operations, which rely on undercover remote IT workers inside American tech companies to raise funds for the regime's nuclear weapons program, as well as to steal data and cryptocurrency. As part of the DOJ's multi-state effort, the government announced the arrest and indictment of U.S. national Zhenxing "Danny" Wang, who allegedly ran a years-long fraud scheme from New Jersey to sneak remote North Korean IT workers inside U.S. tech companies. According to the indictment, the scheme generated more than $5 million in revenue for the North Korean regime. [...]

From 2021 until 2024, the co-conspirators allegedly impersonated more than 80 U.S. individuals to get remote jobs at more than 100 American companies, causing $3 million in damages due to legal fees, data breach remediation efforts, and more. The group is said to have run laptop farms inside the United States, which the North Korean IT workers could essentially use as proxies to hide their provenance, according to the DOJ. At times, they used hardware devices known as keyboard-video-mouse (KVM) switches, which allow one person to control multiple computers from a single keyboard and mouse. The group allegedly also ran shell companies inside the U.S. to make it seem like the North Korean IT workers were affiliated with legitimate local companies, and to receive money that would then be transferred abroad, the DOJ said.

The fraudulent scheme allegedly also involved the North Korean workers stealing sensitive data, such as source code, from the companies they were working for, such as from an unnamed California-based defense contractor "that develops artificial intelligence-powered equipment and technologies."

alternative_right shares a report from Phys.Org: The unit -- dubbed a BeeHome -- is an industrial upgrade from the standard wooden beehives, all clad in white metal and solar panels. Inside sits a high-tech scanner and robotic arm powered by artificial intelligence. Roughly 300,000 of these units are in use across the U.S., scattered across fields of almond, canola, pistachios and other crops that require pollination to grow. [...] AI and robotics are able to replace "90% of what a beekeeper would do in the field," said Beewise Chief Executive Officer and co-founder Saar Safra. The question is whether beekeepers are willing to switch out what's been tried and true equipment. [...]

While a new hive design alone isn't enough to save bees, Beewise's robotic hives help cut down on losses by providing a near-constant stream of information on colony health in real time -- and give beekeepers the ability to respond to issues. Equipped with a camera and a robotic arm, they're able to regularly snap images of the frames inside the BeeHome, which Safra likened to an MRI. The amount of data they capture is staggering. Each frame contains up to 6,000 cells where bees can, among other things, gestate larvae or store honey and pollen. A hive contains up to 15 frames and a BeeHome can hold up to 10 hives, providing thousands of data points for Beewise's AI to analyze.

While a trained beekeeper can quickly look at a frame and assess its health, AI can do it even faster, as well as take in information on individual bees in the photos. Should AI spot a warning sign, such as a dearth of new larvae or the presence of mites, beekeepers will get an update on an app that a colony requires attention. The company's technology earned it a BloombergNEF Pioneers award earlier this year. "There's other technologies that we've tried that can give us some of those metrics as well, but it's really a look in the rearview mirror," [said Zac Ellis, the senior director of agronomy at OFI, a global food and ingredient seller]. "What really attracted us to Beewise is their ability to not only understand what's happening in that hive, but to actually act on those different metrics."

Google has signed a deal to purchase 200 megawatts of future fusion energy from Commonwealth Fusion Systems, despite the energy source not yet existing. "It's a sign of how hungry big tech companies are for a virtually unlimited source of clean power that is still years away," reports CNN. From the report: Google and Massachusetts-based Commonwealth Fusion Systems announced a deal Monday in which the tech company bought 200 megawatts of power from Commonwealth's first commercial fusion plant, the same amount of energy that could power roughly 200,000 average American homes. Commonwealth aims to build the plant in Virginia by the early 2030s. When it starts generating usable fusion energy is still TBD, though the company believes they can do it in the same timeframe.

Google is also investing a second round of money into Commonwealth to spur development of its demonstration tokamak -- a donut-shaped machine that uses massive magnets and molten plasma to force two atoms to merge, thereby creating the energy of the sun. Google and Commonwealth did not disclose how much money is being invested, but both touted the announcement as a major step toward fusion commercialization. "We're using this purchasing power that we have to send a demand signal to the market for fusion energy and hopefully move (the) technology forward," said Michael Terrell, senior director of energy and climate at Google.

Commonwealth is currently building its demonstration plant in Massachusetts, known as SPARC. It's the tokamak the company says could forever change where the world gets its power from, generating 10 million times more energy than coal or natural gas while producing no planet-warming pollution. Fuel for fusion is abundant, derived from a form of hydrogen found in seawater and tritium extracted from lithium. And unlike nuclear fission, there is no radioactive waste involved. The big challenge is that no one has yet built a machine powerful and precise enough to get more energy out of the reaction than they put into it.

An anonymous reader quotes a report from Tom's Hardware: Microsoft EVP Yusuf Mehdi said in a blog post last week that Windows powers over a billion active devices globally. This might sound like a healthy number, but according to ZDNET, the Microsoft annual report for 2022 said that more than 1.4 billion devices were running Windows 10 or 11. Given that these documents contain material information and have allegedly been pored over by the tech giant's lawyers, we can safely assume that Windows' user base has been quietly shrinking in the past three years, shedding around 400 million users.

This is probably why Microsoft has been aggressively pushing users to upgrade to Windows 11 after the previous version of the OS loses support -- so that its users would install the latest version of Windows on their current system (or get a new PC if their system is incapable of running the latest version). Although macOS is a threat to Windows, especially with the launch of Apple Silicon, we cannot say that those 400 million users all went and bought a MacBook. That's because, as far back as 2023, Mac sales have also been dropping, with Statista reporting the computer line, once holding more than 85% of the company revenue, now making up just 7.7%. The shrinking Windows user base can be attributed to a combination of factors -- a major one being the global move toward a mobile-first world, where smartphones and tablets are increasingly replacing traditional PCs for everyday computing needs.

At the same time, Microsoft's strict hardware requirements for Windows 11 have alienated users with perfectly functional older machines, prompting some to stick with unsupported versions or abandon Windows entirely. Additionally, many users find Windows 11 less intuitive than its predecessor and are frustrated by Microsoft's push toward data collection and Apple-style design changes.

Automattic has put its plan to migrate Tumblr's backend to WordPress on hold, with CEO Matt Mullenweg citing a shift in focus toward features users are actively requesting. "I still want to do it," Mullenweg says. "It's just cleaner. But right now, we're not working on it." The Verge reports: The decision to halt the change also appears to mean that Tumblr posts won't be available in the fediverse in the near future. WordPress.com currently offers an ActivityPub plug-in, so Tumblr moving onto WordPress would theoretically let people bring Tumblr posts to the fediverse. "That would've been a free way to get it," Mullenweg says. "And so that was one of the arguments for migrating everything to WordPress."

In the meantime, however, "I think if there was a big push to implement fediverse, we would just do it on the Tumblr code base," according to Mullenweg.

An anonymous reader shares a report: Sen. Ted Cruz (R-Texas) has a plan for spectrum auctions that could take frequencies away from Wi-Fi and reallocate them for the exclusive use of wireless carriers. The plan would benefit AT&T, which is based in Cruz's home state, along with Verizon and T-Mobile.

Cruz's proposal revives a years-old controversy over whether the entire 6 GHz band should be devoted to Wi-Fi, which can use the large spectrum band for faster speeds than networks that rely solely on the 2.4 and 5 GHz bands. Congress is on the verge of passing legislation that would require spectrum to be auctioned off for full-power, commercially licensed use, and the question is where that spectrum will come from.

When the House of Representatives passed its so-called "One Big Beautiful Bill," it excluded all of the frequencies between 5.925 and 7.125 gigahertz from the planned spectrum auctions. But Cruz's version of the budget reconciliation bill, which is moving quickly toward a final vote, removed the 6 GHz band's protection from spectrum auctions. The Cruz bill is also controversial because it would penalize states that regulate artificial intelligence.

Instead of excluding the 6 GHz band from auctions, Cruz's bill would instead exclude the 7.4-8.4 GHz band used by the military. Under conditions set by the bill, it could be hard for the Commerce Department and Federal Communications Commission to fulfill the Congressional mandate without taking some spectrum away from Wi-Fi.

Automattic CEO Matt Mullenweg said he regrets telling the media that "WordPress.org just belongs to me personally" during a new interview about his company's legal dispute with hosting provider WP Engine. The comment has been "taken out of context so many times" and represents "the worst thing ever," Mullenweg said in a new podcast interview with The Verge.

The dispute began when Mullenweg accused WP Engine of "free-riding" on WordPress's open-source ecosystem without contributing adequate resources back to the project. Mullenweg filed a lawsuit against WP Engine while cutting off the company's access to core WordPress technologies. WP Engine countersued, and Automattic was forced to reverse some retaliatory measures.

The controversy triggered significant internal upheaval at Automattic. The company offered "alignment" buyouts to employees who disagreed with the direction, reducing headcount from a peak of 2,100 to approximately 1,500 people. Mullenweg said this was "probably the fourth big time" WordPress has faced such community controversy, though the first in the current media landscape. WordPress powers 43% of websites globally. Mullenweg said he wants to return to "the most collaborative version of WordPress possible" but noted the legal proceedings continue with both sides spending "millions of dollars a month on lawyers."

China's transition to digital payments has reached the point where physical cash has nearly vanished from daily commerce, with WeChat and Alipay now handling transactions from supermarkets to public transportation across the world's second-largest economy. Many businesses no longer maintain traditional cash registers and instead scan QR codes presented by customers, while numerous taxis refuse cash payments entirely.

The widespread adoption has given tech giants Tencent and Alibaba immense power over routine financial transactions, prompting China's central bank to develop a competing digital yuan currency.

"Canada and the United States have resumed trade negotiations," reports Newsweek, "after Canadian Prime Minister Mark Carney agreed to rescind the country's digital services tax on U.S. technology companies." The development follows President Donald Trump's announcement on Friday that he was suspending all trade talks with Canada "effective immediately" over the tax policy... Canada's quick reversal signals the high stakes involved in maintaining trade relationships with the United States, particularly given the countries' deeply integrated economies.

Carney's office confirmed on Sunday that both leaders have agreed to restart negotiations after Canada committed to abandoning the 3 percent levy targeting major U.S. tech giants including Amazon, Google, Meta, Uber, and Airbnb. The tax was scheduled to take effect Monday and would have applied retroactively, creating an estimated $2 billion bill for American companies. The conflict escalated rapidly after Canada's Finance Department confirmed Friday that companies would still be required to make their first digital tax payments Monday, despite ongoing negotiations. The tax targeted revenue generated from Canadian users rather than corporate profits, making it particularly burdensome for technology companies operating internationally...

Canada's decision to rescind the tax came "in anticipation" of reaching a broader trade agreement, according to government officials. With negotiations resuming, both countries will likely focus on addressing broader trade issues beyond the digital services tax.

Mitch Kapor dropped out of MIT's business school in 1979 — and had soon cofounded the pioneering spreadsheet company Lotus. He also cofounded the EFF, was the founding chair of the Mozilla Foundation, and is now a billionaire (and an VC investor at Kapor Capital).

45 years later, when the 74-year-old was invited to give a guest lecture at MIT's business school last year by an old friend (professor Bill Aulet), he'd teased the billionaire that "there's only one problem, Mitch, I see here you haven't graduated from MIT."

The Boston Globe tells the story... After graduating from Yale in 1971 and bouncing around for almost a decade as "a lost and wandering soul," working as a disc jockey, a Transcendental Meditation teacher, and a mental health counselor, Kapor said he became entranced by the possibilities of the new Apple II personal computer. He started writing programs to solve statistics problems and analyze data, which caught the attention of Boston-area software entrepreneurs Dan Bricklin and Bob Frankston, who co-created VisiCalc, one of the first spreadsheet programs. They introduced Kapor to their California-based software publisher, Personal Software.

Midway through Kapor's 12-month master's program, the publisher offered him the then-princely sum of about $20,000 if he'd adapt his stats programs to work with VisiCalc. To finish the project, he took a leave from MIT, but then he decided to leave for good to take a full-time job at Personal. Comparing his decision to those of other famed tech founder dropouts, like Bill Gates, Kapor said he felt the startup world was calling to him. "It was just so irresistible," he said. "It felt like I could not let another moment go by without taking advantage of this opportunity or the window would close...."

When Aulet made his joke on the phone call with his old friend in 2024, Kapor had largely retired from investing and realized that he wanted to complete his degree. "I don't know what prompted me, but it started a conversation" with MIT about the logistics of finally graduating, Kapor said. By the time Kapor gave the lecture in March, Aulet had discovered Kapor was only a few courses short. MIT does not give honorary degrees, but school officials allow students to make up for missing classes with an independent study and a written thesis. Kapor decided to write a paper on the roots and development of his investing strategy. "It's timely, it's highly relevant, and I have things to say," he said.

One 77-page thesis later, Kapor, donning a cap and gown, finally received his master's degree in May, at a ceremony in the Hyatt Regency Hotel in Cambridge, not far from where he founded Lotus.