Yesterday, Google reported its Q3 results that showed searches made through its AI Mode generate less revenue than traditional search, even as overall search revenue grew 12% year over year to $63.25 billion. The news sent Alphabet shares plunging, with Bespoke Investment Group reporting that the stock is on track for its steepest post-earnings decline since the company went public in 2004. Yahoo Finance reports: At its low, Alphabet had lost $524 billion in stock market value, the second-biggest one-day loss ever for a US-listed company. Only Nvidia has lost more, about $593 billion on Jan. 27, 2025, the day China's DeepSeek rattled AI investors. Alphabet would need to close at about $274.75, down roughly 15%, to take Nvidia's record, by Yahoo Finance calculations. It has already blown past the $400 billion SpaceX lost on June 22, the previous No. 2.

In dollars, it's Alphabet's worst day by far. Its previous worst was about $275 billion on July 23. It's also on track for the stock's steepest drop after an earnings report since the company went public, according to Bespoke Investment Group. The previous low was a slide of nearly 10% in July 2008.

[...] US-listed stocks have shed $200 billion or more in a single session 18 times this year through Wednesday. That's up from 13 in all of 2025 and none before 2022, according to Yahoo Finance calculations from Bloomberg data. Alphabet alone has lost about $1.4 trillion since its record in May.

Reddit is overhauling its homepage with separate "For You" and "Following" feeds, with the former combining posts from subscribed communities and algorithmic recommendations based on users' interests and activity. The Verge reports: It's a big shift for the platform, but not an entirely surprising one, as Reddit hasn't been shy about wanting to switch up the homepage. Earlier this year, the company announced it would be deprecating r/all, which surfaced posts that were popular across the platform, as part of its "ongoing efforts to simplify Reddit and improve Home feed personalization." "This new feed experience is a first step in helping drive discovery that leads to something novel and relevant -- an idea, a connection, a unique perspective, or even a new interest," Reddit says. "A more human internet is not just something you sit back and watch, it is something you find value in and want to participate in."

Slashdot reader fjo3 shares an article from Wired: The internet must be put out of its misery. Any rational observer can admit that the current iteration of the web -- and the social fabric woven there -- is not what they signed up for. Symptoms of advanced cultural decay can no longer be ignored. This thing is eating itself. Giants including Meta and Google have been forced to settle massive consumer lawsuits brought over privacy violations and mental health harms allegedly caused by the addictive mechanisms of their platforms. Schools are banning smartphones as multiple countries institute social media restrictions for under-16s. Parents are in a panic about their kids aspiring to careers as social media celebrities, losing themselves in a vast ecosystem of online casinos, or joining extremist movements. Generative AI, briefly considered an amusing novelty, is now a turbocharged slop engine for the web, filling feeds and comment sections with useless, grotesque content. As humans scroll past headlines about AI taking their jobs, confusing fantasy for reality, and contributing to cognitive decline, any consumer appeal the technology might have is turning to anguish. The data centers that power it have become increasingly unpopular, and politically radioactive.

To be online, many now admit, is to be endlessly manipulated and exploited. In December, Oxford University Press declared rage bait to be the word of the year, noting that use of the term had tripled over the previous 12 months. The lexical spike represented a heightened awareness that monetized social accounts churn out bad-faith takes and extremist content, automating this abusive behavior with generative AI, simply to profit off hostile engagement. Billionaire oligarchs have opened the floodgates to such inauthentic activity, conspiracy-mongering, and hate speech by rolling back moderation. In short, when you hang around online in 2026, you see little worth saving. Perhaps a decade ago, you felt that the glimmers of community and joy, of artistic and intellectual exchange, were enough to balance out the toxic junk. No longer.

An Anthropic engineering manager says he has stopped using traditional coding interviews because AI can now outperform candidates on the kinds of programming challenges they typically contain. "There's no more point in giving you a little React challenge than there is in quizzing people about assembly; Claude is now better at both," said Felix Rieseberg in a blog post. "Our most impactful builders are successful regardless of how good they are at these tests." The Register reports: "I don't think the coding interview is going to come back," said Rieseberg. "It's easy to get sentimental given how many copies of 'Algorithms and Data Structures' were bought in hopes of unlocking good jobs and a better future -- or how the death of the coding interview is another milestone in software engineering reaching a new level of abstraction."

At the same time, he's not certain what will replace it. "I'm probably not the only manager trying to figure out how to interview for people who build well with AI," Rieseberg wrote. "I haven't quite gotten there yet -- but I'm scanning resumes and portfolios for little prototypes that exhibit taste, empathy, and principled thinking. If you have figured out something better, I'd love to hear how." In a response posted to social media, Jaana Dogan, principal engineer at Google, said: "I'm not doing a ton of coding interviews nowadays but I'd be interested to interview how people use coding agents," she wrote. "That itself gives me more signals about candidates' coding skills."

"We are not seeing tech companies abandon skills assessments widely across the industry -- at least not yet," added Nicole Bachaud, labor economist at ZipRecruiter. "In fact, based on our October 2026 Employer Survey of 1,500 employers, we see the tech industry (Information sector specifically) is actually the most likely to test for skills, with 62.5 percent of employers requiring formal skill tests on initial applications."

"The change at Anthropic might be reflecting a shift away from technical skills towards more human, soft skills," said Bachaud. "As AI becomes fully capable of writing code, tech employers may be pivoting away from rote technical testing and heavily toward human-centric soft skills." She argues that while AI may be able to code well, it can't replace critical thinking. "A staggering 61.5 percent of Information employers now report that 'critical thinking' is a primary skill lacking in today's candidate pool," she said.

Ancient Slashdot reader Gilmoure shares a report from Tom's Hardware, adding: "Huh. Looks like consuming one's own slop does not turn the wheels of industry." From the report: Amazon wants its engineers to quit chasing token counts, warning that heavy AI usage does not automatically mean better work. In updated engineering guidelines published on October 27, the company laid out how developers and managers should gauge AI's real impact -- and the takeaway is blunt: consuming more tokens is not the same as delivering more value. [...]

According to the memo, metrics such as AI adoption rates, token consumption, code changes, and code reviews become "deeply flawed" when they are disconnected from actual results. Turning them into targets, Amazon says, encourages wasteful behavior that clashes with its emphasis on "frugality and simplicity" and can raise both compute bills and software complexity.

The company's preferred yardstick is long-term results. "We believe that it is best to measure, and be measured by, long-term outcomes," Amazon wrote. That does not mean managers should ignore usage data altogether, as input metrics remain useful when examined "with care and judgment" alongside other indicators. Amazon suggests looking at both the teams using AI the least and those using it the most to determine whether adoption is translating into better delivery.

[...] The memo also pushes back on the idea that every task needs an AI tool. If current tooling does not benefit someone's work, Amazon says, that is "a finding, not a failing." Engineers who can explain where today's tools fall short are demonstrating judgment rather than reluctance to adopt AI.

An anonymous reader quotes a report from Ars Technica: Running an app ecosystem has gotten a lot more complex for Google after its loss in the Epic Games antitrust case. While U.S. users can access app stores in Google Play by court order, international users will use Google's voluntary Registered App Stores program. Google has announced that stores wishing to be part of that program are now free to apply, and support will roll out to some Android devices later this year. App stores accepted into the program will enjoy preferential treatment on the Android platform. Users of approved stores will be able to install apps with a single click, similar to the experience in the Play Store. These stores will also be allowed to update apps silently in the background like Google's store does.

[...] Registered App Stores are still happening on Android, but they won't be supported in the U.S. -- you can go to Google Play for alternative stores stateside, but so far, Aptoide remains the only one listed. Those operating Android app storefronts who want to be included in the international program can now review the program and begin the enrollment process. Any store hoping to get approval will have to adhere to a number of requirements, including protecting intellectual property, removing illegal content, and publishing a privacy policy for both users and developers. Google also requires several ongoing security measures to ensure the stores do not give malware easier access to Android devices. As part of the application process, store operators must provide documentation for all these points (in English) and upload copies of all their apps.

It costs $10,000 per year to participate in the Android Registered App Stores program, and that fee must be paid before Google will review the application. Google says this fee covers the additional support necessary to run the program. There may also be additional review fees if Google detects a store has a problem with malware. Google plans to roll out support in dozens of nations, which includes most of the world outside of the U.S. and Europe. The program goes live on December 1, but it will only work on Android devices running the latest builds of Android 17. Google says support will start with Android 17 QPR2, which is expected to arrive on Pixel phones in the coming weeks.

Ahead of the touchscreen MacBook Pro expected to debut tomorrow, Apple has refreshed its standard 14-inch MacBook Pro with the new M6 processor, promising up to 20% faster multithreaded performance, improved power efficiency, and more powerful on-device AI capabilities. The Verge reports: Announced this morning through a press release, the new 14-inch MacBook Pro features three Thunder 4 USB-C ports that all support charging and DisplayPort connectivity, a MagSafe 3 charging port, full-size HDMI, and an SDXC memory card slot accommodating photographers. Pricing for the new M6 version of the 14-inch MacBook Pro starts at $1,999 with 16GB of memory, the same as last year's M5 model. Preorders start on October 28th and shipping is expected to begin on November 6th.

The new M6 processor is Apple's first 2nm chip with a bump to a 12-core CPU, up from 10 cores in the M5, and the company says it offers up to 1.2x faster multithreaded performance when compared to its predecessor. The M6 also features a Dual 16-core Neural Engine to handle heavy on-device AI tasks, plus an upgraded 12-core GPU with a Neural Accelerator in each core. In addition to performance improvements, Apple says its M6 processor is more power efficient.

An anonymous reader quotes a report from Reuters: While global tech stocks teeter, in China they have already crashed as lofty valuations collapse under worries about AI demand and curbs on Chinese exports. The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporizing some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China's efforts at encouraging its savers into stocks to fund the AI boom. It has also slammed the brakes on a rally running two years, since economic stimulus promises sent shares soaring, and has stalled Beijing's push to break with a long boom-bust pattern and drive a "slow bull" market that delivers reliable performance. China's broad blue-chip index has dropped about 20% from highs made in June. "The stock market later evolved into a speculative crazy bull," said Beijing-based fund manager Dong Baozhen. "And now we see the bubble bursting." There was no clear trigger for the selloff in China, though traders pointed to high valuations, tax bills, and the threat of foreign bans on Chinese data center equipment. According to Goldman Sachs, AI stocks account for 42% of China's market capitalization and 57% of trading turnover, leaving investors widely exposed to the downturn.

"What's happening is now going to put a stop for many of the companies trying to get themselves listed," said Hong Hao, managing partner and chief investment officer at Lotus Asset Management in Hong Kong.

"Overemphasising the 'technology content' -- that is, the weighting of tech companies by market value in major indexes -- leads to a deviation, even a distortion, in capital behavior," said Leo Wang, partner at Beijing-based Qianchuang Capital. "This created a severe bubble in certain sectors and a serious drain on others."

"Just like all other Chinese manufacturers, (chipmakers and AI suppliers) will eventually end up in a price war," said fund manager Wang Zhuo, partner at Shanghai Zhuozhu Investment Management. "There's no exception," he said. "All bubbles inevitably burst."

The critical PHP2Shell vulnerabilities (CVE-2026-109618 and CVE-2026-109619) have now been successfully exploited in the wild, just days after patches were released and initial exploitation attempts failed. BleepingComputer reports: The malicious activity was caught by Adel Karimi, detection and response lead at Perplexity, whose honeypots recorded evidence of confirmed remote code execution against an Apache mod_php installation running PHP 8.4.26. "This is now confirmed RCE with usable memory disclosure, not just a crash followed by a suspicious process. The response delivered an 800 KiB decoded cookie dump, and a function address derived from that dump using the public exploit's offsets appears in the subsequent execution payload," Karimi shared.

"The evidence demonstrates this chain on the intentionally favorable single-worker mod_php profile; it is not a measurement of exploit reliability on other worker counts, PHP builds, or applications," he added. Karimi's findings were also confirmed by Expel threat researcher Marcus Hutchins, who has been tracking a stream of alleged successful PHP2Shell exploitation reports.

"This is by far the highest quality confirmation of in-the-wild php2shell exploitation I've seen so far. Deep technical breakdown of a successful exploitation attempt against an Apache mod_php installation running PHP 8.4.26," Hutchins said.

Instagram is testing a new longform, horizontal video format called "Features" as it pushes further into YouTube territory and expands its presence on TVs. The Verge reports: Instagram boss Adam Mosseri has been against doing longform video on the platform "for a long time," he says in a six-and-a-half-minute video (here's the widescreen version) with VP of product Tessa Lyons, saying that "one of my concerns has been, how do we make sure that we keep Instagram not just about entertainment, but about connecting with friends." If you watch a longform video, "it's a lot of Reels, photos, and carousels that you might not have sent to a friend," meaning less likes and shares. Now, though, the team is working on making shortform and longform video "symbiotic," according to Mosseri, like podcasts or comedy specials that can be both long videos and broken up into shorter ones.

The announcement of this widescreen video push also follows the launch of Instagram's TV app late last year. That app launched first as a Reels-focused experience and as a pilot for Amazon Fire TV devices in the US, but it's since expanded to Google TVs, Samsung TVs and Apple TV, and Instagram launched new features like the ability to watch Stories earlier this year.

Highway thieves have stolen more than $100 million in data center equipment since June, employing increasingly sophisticated tactics such as forging driver IDs and spoofing GPS tracking systems. NBC News (paywalled) reports that thieves have "made away with more than $100 million in data center freight." Ars Technica reports: Here's how they said thieves get away with it: First, thieves hack freight brokers' accounts on shipment-listing websites and post fake shipments to lure real bids, then send a malicious link to any trucking companies that respond. Once victims click, thieves install software to take control of their accounts and start bidding on real shipments. Sometimes, a real delivery driver is hired to collect the cargo, unaware of the scam, and other times fake driver's licenses are used to get accomplices hired. Either way, the goods are eventually transferred to a driver working with the thieves to resell the gear, and, in one of the largest thefts, tracking coordinates were spoofed to prevent digital monitoring. Equipment commonly targeted includes "servers, fiber-optic cables, computer memory chips, copper wires, and bitcoin mining machines," NBC News reported.

Some trailers hit seem to be carrying only data center equipment, like two stolen freights found in Illinois. The Cook County Sheriff's Office estimated those contained $300,000 worth of copper wire spools and about $1 million in "custom-made data center modular power solutions equipment," NBC News reported. Other trucks impacted were carrying additional freight, like a Los Angeles County Sheriff's Department case where "data center cooling equipment" bound for Deepcool AI was recovered among nicotine pouches, televisions, shoes, printers, speakers, and skin care cosmetics. Experts worry that means Americans may be broadly harmed by the thefts, not just the AI industry.

While some stolen goods have been recovered, in two of the largest thefts that NBC News found, none of the equipment was found, and off-duty cops hired to escort the shipments were targeted in hit-and-runs. [...] Broadly, cargo thieves are infiltrating email accounts to find lucrative shipments, misdirecting shipments, disrupting GPS tracking, and using AI to create fake driver's licenses to get accomplices hired as delivery drivers. LASD's Sgt. David Pantoja told NBC News "that's how most of it is being done," which is a big shift from the past when highway thefts were largely opportunistic.

Apple has unveiled a redesigned iPad Mini with a larger 8.5-inch OLED display, an A20 Pro chip, twice the peak brightness and slimmer bezels while maintaining roughly the same footprint. It starts at $699 ($200 more than its predecessor) and will be available November 6. The Verge reports: Despite having a slightly bigger display than the 8.3-inch screen on its predecessor, Apple says the device maintains the same small footprint thanks to bezels that are 24 percent slimmer. The iPad Mini is 5.4mm thick as well, making it thinner and lighter than the previous generation, according to Apple. It also comes with an IP67 rating for protection against water and dust.

Aside from an OLED display, the new iPad Mini features an upgraded A20 Pro chip. This enables support for some of Apple's new Siri AI features, including the ability to tweak the expressiveness and pace of the assistant's voice. Apple says the upgraded iPad Mini also comes with two times the peak brightness than the previous generation. iPad Mini's 12MP front-facing camera is now on the long edge of the device, making it easier for video calls in landscape orientation.

An anonymous reader quotes a report from The Seattle Times: Microsoft is offering buyouts to about 60,000 employees, or roughly a quarter of its workforce, as the company tries to control its head count while avoiding layoffs. The Redmond-based tech giant announced Monday morning that eligible employees at the vice president level and below in the U.S., Canada, India and the United Kingdom would receive a "voluntary exit offer" of a standard severance package, based on their location.

In a memo to employees, Microsoft Chief People Officer Amy Coleman said the move was building off the voluntary retirement program earlier this year, which was available to more than 8,700 U.S.-based employees, roughly one-third of whom took the offer. Since May 2025, Microsoft has been trying to reduce its corporate workforce, first through waves of mass layoffs and now through more creative buyout programs. The company laid off about 15,000 employees last year over the course of several months, affecting about 3,200 Washington-based workers. The report notes that the layoffs have continued this year, though on a smaller scale and largely concentrated in the company's gaming division.

"Despite massive investments and widespread hype around AI , the technology has delivered zero financial payoff to corporate America outside of tech," writes the chief economist at U.S. asset management firm Apollo Global.

He adds that "there are still no signs of AI boosting productivity growth... [M]ainstream corporate America is pulling back and starting to view token spending not as a source of growth but as a cost center that weighs on margins." VC-backed companies are spending more and more on tokens, but mainstream corporate America does not need the latest model and is unwilling to pay for it. As long as agentic AI and token spending are confined to a small part of the economy, the macroeconomic effects of AI will be very limited...

The question looking ahead is whether, even as models become commoditized, mainstream corporate America can turn increasingly cheap intelligence into higher revenue growth and higher profit margins. That may be harder than it sounds. AI may be a great calculator, but in business, intelligence is mostly judgment. Judgment depends on context, and the answer varies with which human or which model you ask. Perhaps most importantly, AI does not understand accountability, trust, culture, unwritten rules, ethical trade-offs or fairness, all of which shape reputational risk and ultimately drive revenue growth and profit margins.

The bottom line is that the AI story will be decided in the S&P 493, not the Mag 7, and so far, there is no evidence that revenue growth or margins are improving outside the tech sector.
More details from TechCrunch: Apollo's Torsten Slok focuses on what he calls the S&P 493 — the S&P 500, minus Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — finding that profit margins and revenue per worker appear to be flat, with no evidence that AI is improving productivity...

Recent studies have also found that AI has yet to deliver significant productivity gains.

The Free Software Foundation's "EncryptFest" today covers both encryption and privacy. The free two-hour event runs from 13:00-15:00 Eastern Daylight Time (17:00-19:00 UTC), and includes:

— A discussion on "bulk surveillance, and how encryption protects personal privacy"

— A short video from renowned cryptographer Bruce Schneier.

— A discussion with Henry Fisher, the founder of Techlore and a digital rights activist

— A hands-on workshop on how you can encrypt your email using the FSF's Email Self-Defense guide "as a concrete step to enhance your data privacy"

You may join us virtually, or if you are in Boston, Massachusetts, United States (the FSF's home base), you can join us in-person at the Boston Public Library's Copley Square branch. You may also join us in-person at MakeHaven in New Haven, Connecticut, US, and meet our deputy director Sean O'Brien. Whether attending our event online or in-person, please register. It will help us plan ahead and enable us to contact you about other important details before the workshop, like what to expect and what to bring...

Bulk surveillance violates our fundamental rights and makes free speech dangerous. Email encryption is an excellent tool you can use to shield yourself from bulk surveillance. Encrypting your email is also a concrete step towards protecting your data from others whose intentions may not be honorable.