The Almighty Buck

Venture Funding Set To Hit Lowest Level Since 2020 (bloomberg.com) 18

Venture capital-backed startups raised far fewer rounds of funding during the past three months than they did during the more ebullient days of late last year and early this year, according to new data from analytics firm CB Insights. From a report: Deal activity across the globe dropped 23% between the first quarter and second quarter of this year, the firm found, using data for the second quarter through June 23. That's a stark contrast to the previous quarter, where the deal count dropped only 1.4% -- and an indication that the roiling of the crypto and public markets are affecting private companies. Investors are not just writing fewer checks but also smaller ones. The total funding amount going to startups for the current quarter to date dropped 27% compared to the first quarter. Those numbers are likely to change before the second quarter is officially over in a week, but the drop appears to be more severe than the 19% CB Insights had predicted just a month ago. Late-stage companies are getting squeezed particularly hard: Funding in Series D rounds or beyond dropped 43%.
PlayStation (Games)

Lessons Learned from the Life of Videogame Executive Bernie Stolar (venturebeat.com) 46

VentureBeat reports: Video game legend Bernie Stolar, former president of Sega of America, has passed away at the age of 75, friends said.
Bernie Stolar was the first executive VP of Sony Computer Entertainment America, according to their article, and helped line up the games for the launch of the first PlayStation, eventually signing franchises like Crash Bandicoot, Ridge Racer, Oddworld Inhabitants, Spyro The Dragon and Battle Arena Toshinden.

VentureBeat remembers how Stolar then became president/COO of Sega of America, helping lead the development and launch of the Sega Dreamcast (while killing development of their home video console Saturn). Stolar acquired Visual Concepts for Sega of America, which ultimately led to the creation of 2K Sports. Joining Mattel in 1999, he helped the company sell a line of videogames.

But then Stolar became an adviser/director at Adscape Media, and later sold that company to Google for $23 million. The lead writer for VentureBeat's GameBeat remembers what happened next — and what he'd learned after interviewing Stolar in 2015: "There was no interest in games at Google at the time," Stolar said. "I went to the CEO, who was Eric Schmidt, and said, 'Why don't we put advertising in all these games and give them away for free online?' He said, 'We're not in the game business." I said, 'We're not going into the game business. We're not developing games. We're taking games from publishers and streaming those through our online network.' He wouldn't do it. That's when I knew I should leave the company...."

Toward the end of our interview in 2015, Stolar said, "I've been doing this since 1980. I love this business. I love it because I get to work with people who are young and passionate. I'm one of the old gray-haired guys in the industry, but it's wonderful to work with all this young talent."

Stolar joked he could be the grandfather for the CEOs he was advising. I asked Stolar how long he would work.

"Put it this way. I've spoken to two individuals about this, Sumner Redstone and Rupert Murdoch," he said. "They're both in their 80s. They're both multi-billionaires. They certainly don't have to work, right? And they've both said to me, 'If you retire, you die.' I believe that. My father, when he sold his liquor store and stopped working, passed away three months later. I'm not going to stop."

Power

Here Come the Solar-Powered Cars (theguardian.com) 102

The Guardian reports on the "world's first production-ready solar car", a streamlined and energy-efficient sedan-style vehicle covered with curved solar panels called "the Lightyear 0."

The Dutch company Lightyear hopes to be shipping the vehicle by November, priced at about $264,000 (€250,000 or £215,000) — though the company plans another solar-assisted car priced at $32,000 (€30,000) as early as 2025.

Lead engineer Roel Grooten credits their car's efficiency to things like the "low-rolling resistance of the tyres, of the bearing s and the motor." It is this streamlined design that the company credits for allowing it to muscle its way into a space long overlooked by most car manufacturers...."If we would have the same amount of energy that we harvest on these panels on any other car that uses three times the amount of energy to drive, it becomes useless. It becomes a very expensive gimmick," said Grooten. "You have to build this car from the ground up, to make it as efficient as possible, to make it this feasible."

In optimal conditions, the solar panels can add up to 44 miles a day to the 388-mile range the car gets between charges, according to the company. Tests carried out by Lightyear suggest people with a daily commute of less than 22 miles could drive for two months in the Netherlands without needing to plug in, while those in sunnier climes such as Portugal or Spain could go as long as seven months....

In an effort to use as much of this solar energy as possible, the windswept design eschews side-view mirrors for cameras and runs off lightweight electric motors tucked into its wheels. The body panels are crafted from reclaimed carbon fibre and the interiors are fashioned from vegan, plant-based leather with fabrics made from recycled polyethylene terephthalate bottles.

The article notes that Mercedes-Benz also plans rooftop solar panels for an upcoming electric car, while Toyota's Prius hybrids also sometimes offer limited-capacity panels as add-ons. Other companies planning solar-assisted vehicles include Sono Motors and Aptera Motors.
The Courts

Facebook Agrees To Massive Settlement For Data Privacy Class Action Lawsuit (apnews.com) 25

Here's an announcement from lawfirm DiCello Levitt Gutzler. This week a U.S. District court "granted preliminary approval of a $90 million settlement" with Facebook's parent company, Meta Platforms, "to resolve a long-running class action accusing Facebook of tracking its subscribers' activities on non-Facebook websites — even while signed out of their Facebook accounts."

"The monetary component makes this the seventh-largest data privacy class action settlement ever to receive preliminary court approval."

Long-time Slashdot reader destinyland quotes the announcement: Individuals who, between April 22, 2010, and September 25, 2011, inclusive, were Facebook users in the United States and visited non-Facebook websites that displayed the Facebook Like button, may be eligible for a payment from the settlement fund. Email notices from the claims administrator, Angeion, have started to go out, and will continue in batches through July 15, 2022. Recipients of an email notice should note an ID and confirmation code in the top left corner, which should be use in submitting their claim.

However, even those who do not receive an email notice are still permitted to file a claim, and the administrator will determine whether they are eligible.

The correct link to the class action lawsuit website is: fbinternettrackingsettlement.com/

The deadline to submit a claim is September 22, 2022.

Komando.com adds that "While Facebook has denied any wrongdoing, it chose to settle the matter outside of court before it went to trial..."

"It's impossible to tell how much you can get at this stage in the lawsuit, as the final payout will depend on the number of claims submitted and additional fees. All settlement class members will be paid in equal amounts."
Transportation

Are Air Taxis Getting Closer? (aol.com) 75

Last week a headline in the Los Angeles Times proclaimed "Look! Up in the sky! It's an air taxi. They're coming to Los Angeles."

Even the British newspaper the Times took notice: Air taxis will be flying through the skies above Los Angeles in time for the summer Olympics of 2028 if city officials and entrepreneurs have their way.

A Silicon Valley company is the latest to claim that it is close to creating viable electric vehicles that can offer short hops above the traffic-choked streets for not much more than the cost of an Uber ride. Adam Goldstein, chief executive of Archer Aviation, told the Los Angeles Times that his vertical take-off aircraft, designed to travel 60 miles on a single charge at up to 150mph, would "completely change the way we live, the way we work", and could be flying within two years.

The Los Angeles Times cited estimates of $1 billion spent testing electric vertical takeoff and landing aircraft, known as eVTOL, just last year, and noted the "hundreds of companies competing" to build a new "transportation empire." And their opening paragraph paints the scene: Imagine avoiding that soul-crushing, hourlong slog — say from Santa Monica to downtown L.A. on a Tuesday morning. Instead, you hail a high-tech cab that will hop over the gridlock and get you there in nine minutes.... The promise of flying cars — for generations a Hollywood staple of a space-age future, from "The Jetsons" to "Blade Runner" — is finally becoming a reality, so much so that a Swedish company is already selling a single-passenger vehicle called Jetson 1. Los Angeles transportation officials are preparing for this new era and expect drone-like electric air taxis to be operational by the time the 2028 Summer Olympics roll around, if not far sooner....

While many detractors doubt that such travel will soon be viable, affordable or safe, the industry is working with cities to make the technology a reality in the next five years.

The Observer also noted that another eVTOL pioneer, Germany's Volocopter, plans to launch commercial service for its two-seat VoloCity aircraft in 2024 in Europe, with a four-seater by 2026. But are there possible downsides? In cities like New York, wealthy commuters are already taking helicopter rides on a regular basis, and complaints about helicopter noise have skyrocketed in recent years, prompting the city to introduce a bill last week to ban non-essential helicopter uses, such as sightseeing and short-distance travel, in parts of Manhattan.

eVTOLs are quieter than helicopters by design, but they are by no means silent.

Even the Los Angeles Times acknowledges "There are concerns about safety, quality of life and affordability." While a single air taxi may be relatively quiet, what happens when there is a constant stream of them coming in and out of a landing spot? Should there be nighttime restrictions on flights? Will this just be a means for the ultra-wealthy to buzz over poor neighborhoods to Dodger Stadium or Crypto.com Arena?
But the Times' article still drew angry letters to the editor, with one calling air taxis "a disaster waiting to happen." Instead of boosterism reporting and parroting industry marketing claims that these aircraft are some kind of a godsend, how about reporting on how many decibels these flying bubbles for the elite will blare onto the plebes below...? [T]he paper's naive reporting on the technology are disappointing.
They'd also called the Times' claim of $50-a-flight prices "fanciful" — and a second letter writer also expressed skepticism about that low estimated cost. "That reminds one of the outlandish initial promise we were given that the bullet train would cost $33 billion to build."
The Internet

Tim Berners-Lee Skeptical of Web3, Touts Decentralized Internet Without Blockchain (thenextweb.com) 62

Sir Tim Berners-Lee "is skeptical about a blockchain-based internet," reports the Next Web. Instead, they describe his new vision as "a decentralized architecture that gives users control of their data" — on a Platform called Solid: Berners-Lee shares Web3's purported mission of transferring data from Big Tech to the people. But he's taking a different route to the target. While Web3 is based on blockchain, Solid is built with standard web tools and open specifications. Private information is stored in decentralized data stores called "pods," which can be hosted wherever the user wants. They can then choose which apps can access their data. This approach aims to provide interoperability, speed, scalability, and privacy.

"When you try to build that stuff on the blockchain, it just doesn't work," said Berners-Lee.

Berners-Lee says Solid serves two separate purposes. One is preventing companies f rom misusing our data for unsolicited purposes, from manipulating voters to generating clickbait.The other is providing opportunities to benefit from our information. Healthcare data, for instance, could be shared across trusted services to improve our treatment and support medical research. Our photos, meanwhile, could be supplied to Facebook friends, LinkedIn colleagues, and Flickr followers without having to upload the pictures to each platform.

This evokes Berners-Lee's original aim to make the web a collaborative tool. "I wanted to be able to solve problems when part of the solution is in my head and part of the solution is in your head, and you're on the other side of the planet — connected by the internet," he said.

"That was the sort of thing I wanted the web for. It took off more as a publishing medium — but all is not lost."

Social Networks

Why MapQuest, Jeeves, and Other 'Internet Zombies' are Still Around (nytimes.com) 49

"The dream of the 1990s internet is still alive, if you look in the right corners," argues the New York Times' newsletter On Tech: More than 17 million Americans regularly use MapQuest, one of the first digital mapping websites that was long ago overtaken by Google and Apple, according to data from the research firm Comscore. The dot-com-era internet portal Go.com shut down 20 years ago, but its ghost lives on in the "Go" that's part of web addresses for some Disney sites.

Ask Jeeves, a web search engine that started before Google, still has fans and people typing "Ask Jeeves a question" into Google searches.

Maybe you scoff at AOL, but it is still the 50th most popular website in the U.S., according to figures from SimilarWeb. The early 2000s virtual world Second Life never went away and is now having a second life as a proto-metaverse brand....

There is something heartwarming about pioneers that shaped the early internet, lost their cool and dominance, and eventually carved out a niche. They'll never be as popular or powerful as they were a generation ago, but musty internet brands might still have a fruitful purpose. These brands have managed to stay alive through a combination of inertia, nostalgia, the fact they've produced a product that people like, digital moneymaking prowess and oddities of the rickety internet.

If today's internet powers like Facebook and Pinterest lose relevance, too, they could stick around for decades.

The article quotes Bloomberg Opinion columnist Ben Schott calling the older sites "almost cockroach brands. They're small enough and resilient enough that they can't be killed."
Social Networks

Meme-Stock Probe Finds Robinhood Woes Were Worse Than It Let On (yahoo.com) 19

Bloomberg writes that the makers of the Robinhood app "faced a more dire situation during the height of last year's meme-stock frenzy than executives at the online brokerage let on publicly, according to a report from top Democrats on a key congressional committee." A more-than-yearlong investigation by staff on the House Financial Services Committee concluded Friday that the frenzied trading in GameStop Corp. and AMC Entertainment Holdings Inc. posed a significant threat to the online brokerage. Robinhood avoided defaulting on its regulatory collateral obligations in late January 2021 only because it received a waiver from its clearinghouse, according to the findings... "The company was only saved from defaulting on its daily collateral deposit requirement by a discretionary and unexplained waiver," according to the report. "Robinhood's risk-management processes did not work well to predict and avert the risk of default that materialized...."

The 138-page document released on Friday provides the most detailed look yet at how alarmed Robinhood executives grew over the situation in late January 2021. According to the findings, those actions didn't match the firm's public assertions.

Businesses

US Proposes New Rules to Curb 'Meme Stock' Rallies (yahoo.com) 53

America's Securities and Exchange Commission "is considering broad changes to curb the frenetic trading of stocks based on social media activity," reports Reuters: The proposed overhaul would be the biggest change to Wall Street's rules since 2005 and would affect nearly every corner of the market, from commission-free brokerages to market makers and exchanges. The U.S. House Committee on Financial Services on Friday called for the SEC, along with other regulators, to do more to protect the markets from similar events....

The U.S. House Financial Services Committee on Friday urged Congress to adopt legislation mandating the SEC study how its rules need to change to address new technological developments, such as digital engagement practices and social media-driven market activity.

Government

Russia's Cyberattacks Thwarted by Ukraine, Microsoft, Google, and Western Intelligence (nytimes.com) 37

Russia's invasion of Ukraine is "the first full-scale battle in which traditional and cyberweapons have been used side by side," reports the New York Times. But the biggest surprise is that "many of the attacks were thwarted, or there was enough redundancy built into the Ukrainian networks that the efforts did little damage... more than two-thirds of them failed, echoing its poor performance on the physical battlefield."

Microsoft president Brad Smith says the ultimate result is Russia's attempted cyberatacks get underreported, according to the Times: [A study published by Microsoft Wednesday] indicated that Ukraine was well prepared to fend off cyberattacks, after having endured them for many years. That was at least in part because of a well-established system of warnings from private-sector companies, including Microsoft and Google, and preparations that included moving much of Ukraine's most important systems to the cloud, onto servers outside Ukraine....

In many instances, Russia coordinated its use of cyberweapons with conventional attacks, including taking down the computer network of a nuclear power plant before moving in its troops to take it over, Mr. Smith said. Microsoft officials declined to identify which plant Mr. Smith was referring to. While much of Russia's cyberactivity has focused on Ukraine, Microsoft has detected 128 network intrusions in 42 countries. Of the 29 percent of Russian attacks that have successfully penetrated a network, Microsoft concluded, only a quarter of those resulted in data being stolen. Outside Ukraine, Russia has concentrated its attacks on the United States, Poland and two aspiring members of NATO, Sweden and Finland...

But Microsoft, other technology companies and government officials have said that Russia has paired those infiltration attempts with a broad effort to deliver propaganda around the world. Microsoft tracked the growth in consumption of Russian propaganda in the United States in the first weeks of the year. It peaked at 82 percent right before the Feb. 24 invasion of Ukraine, with 60 million to 80 million monthly page views. That figure, Microsoft said, rivaled page views on the biggest traditional media sites in the United States. One example Mr. Smith cited was that of Russian propaganda inside Russia pushing its citizens to get vaccinated, while its English-language messaging spread anti-vaccine content. Microsoft also tracked the rise in Russian propaganda in Canada in the weeks before a trucker convoy protesting vaccine mandates tried to shut down Ottawa, and that in New Zealand before protests there against public health measures meant to fight the pandemic.

Russians successfully "sabotaged a satellite communications network called Viasat in the opening days of the war," notes the Washington Post, "with the damage spilling over into other European countries. But Ukraine, working with private tech companies, Western intelligence and its own expert software engineers, has quickly fixed most of the damage..."

"The close partnerships that have emerged between U.S. technology companies and Western cybersecurity agencies is one of the unheralded stories of the war...." "Cyber responses must rely on greater public and private collaboration," argues Brad Smith, Microsoft's president, in a new study... published Wednesday on Microsoft's "lessons learned" from cyber conflict in Ukraine. A White House cyber official explains the new cooperative approach this way: "Where companies see destructive attacks, that has driven partnerships with the intelligence community and other government agencies to see how best we can share information to protect infrastructure around the world." The tech world's sympathies lie with the underdog, Ukraine. That applies to giant firms such as Microsoft and Google....

Ukraine's cybersecurity defense benefited from an early start. U.S. Cyber Command experts went to Ukraine months before the war started, according to its commander, Gen. Paul Nakasone. Microsoft and Google became involved even earlier. Microsoft began monitoring Russian phishing attacks against Ukrainian military networks in early 2021, and through the rest of last year observed increasingly aggressive hacks by six different attackers linked to Russia's three intelligence services, the GRU, SVR and FSB, according to a Microsoft report released in April. Microsoft has spent a total of $239 million on financial and technical assistance to Ukraine, a company official said....

Google, a part of Alphabet, has also helped Ukraine fend off threats. Back in 2014, prompted by Russia's use of DDOS ("distributed denial-of-service") malware in its seizure of Crimea and eastern Ukraine, Google began what it called "Project Shield." Software protected news sites, human rights groups and election sites against crippling DDOS floods of junk internet messages. Today, Project Shield is used by 200 sites in Ukraine and 2,300 others in 140 countries around the world, according to Jared Cohen, the chief executive of Google's Jigsaw unit.

Windows

The Mars Express Spacecraft Is Finally Getting a Windows 98 Upgrade (theverge.com) 40

Engineers at the European Space Agency (ESA) are getting ready for a Windows 98 upgrade on an orbiter circling Mars. The Verge reports: The Mars Express spacecraft has been operating for more than 19 years, and the Mars Advanced Radar for Subsurface and Ionospheric Sounding (MARSIS) instrument onboard has been using software built using Windows 98. Thankfully for humanity and the Red Planet's sake, the ESA isn't upgrading its systems to Windows ME. The MARSIS instrument on ESA's Mars Express was key to the discovery of a huge underground aquifer of liquid water on the Red Planet in 2018. This major new software upgrade "will allow it to see beneath the surfaces of Mars and its moon Phobos in more detail than ever before," according to the ESA. The agency originally launched the Mars Express into space in 2003 as its first mission to the Red Planet, and it has spent nearly two decades exploring the planet's surface.

MARSIS uses low-frequency radio waves that bounce off the surface of Mars to search for water and study the Red Planet's atmosphere. The instrument's 130-foot antenna is capable of searching around three miles below the surface of Mars, and the software upgrades will enhance the signal reception and onboard data processing to improve the quality of data that's sent back to Earth. "We faced a number of challenges to improve the performance of MARSIS," explains Carlo Nenna, a software engineer at Enginium who is helping ESA with the upgrade. "Not least because the MARSIS software was originally designed over 20 years ago, using a development environment based on Microsoft Windows 98!"

Power

A Garage-Sized Reactor Could Provide Limitless Energy With Magnet-Free Technology (interestingengineering.com) 75

An anonymous reader quotes a report from Interesting Engineering: Seattle-based Zap Energy is using a lesser-known approach to nuclear fusion to build modular, garage-sized reactors. They are cheaper and don't require the large, incredibly powerful magnets used in traditional fusion experiments. Ultimately, they may also provide a quicker route to achieving commercially viable nuclear fusion, a press statement reveals.

Nuclear fusion has the potential to remove our reliance on fossil fuels by providing a practically limitless energy source that produces power in a similar way to the Sun and the stars. Fusion experiments, such as Europe's ITER, typically rely on large donut-shaped tokamak reactors using extremely powerful magnets to control the plasma generated during the fusion reaction. Zap Energy has developed a different approach with its Z-pinch technology. The company uses an electromagnetic field instead of the expensive magnetic coils and shielding materials used in tokamaks. This, they say, pins the plasma inside a relatively small space and "pinches" it until it becomes hot and dense enough for the required reaction to take place.

Z-pinch technology was first thought up in the 1950s, but until recently, instability problems meant that research had been largely focused on the more stable tokamak technology. In 2019, a group of researchers from the University of Washington proposed the use of sheared axial flow to smooth the plasma streams, preventing distortions that previously led to instability. One of the authors of that study, Uri Shumlak, co-founded Zap Energy in 2017 in a bid to leverage the sheared axial flow technique to make Z-pinch technology commercially viable. Just last week, Zap Energy reached a key milestone by creating the first plasmas inside its prototype reactor, called the FuZE-Q. The Zap Energy team also just closed a $160-million Series C funding round, which will help it to further develop its Z-pinch technology and hopefully bring it to the market. The company says its reactors could be small enough to fit inside a garage, meaning it could give both micro nuclear reactor and nuclear fusion firms a run for their money.

Apple

Apple Rumored To Announce 'Game-Changer' AR/VR Headset In January 2023 (macrumors.com) 51

Apple is "likely" to announce its long-rumored mixed-reality headset as soon as January 2023, Apple analyst Ming-Chi Kuo has reiterated. MacRumors reports: In a detailed post on Medium, Kuo explained that Apple's headset will be a "game-changer" for the augmented-reality and virtual-reality market. Describing some of the headset's functionality, Kuo said that while Apple has repeatedly touted its focus on AR, the headset will "offer an excellent immersive experience" and a "video see-thru" mode. The headset is expected to boost demand for immersive gaming and multimedia entertainment experiences.

Kuo said that the device is "the most complicated product Apple has ever designed," leading Apple to use components from many of its existing suppliers. Kuo also believes that Apple will be an industry leader in the headset space, has "significant competitive advantages," and does not need to join the Metaverse Standards Forum. Notably, Kuo thinks that rivals will race to imitate Apple's headset once it launches, "leading the headset hardware industry to the next stage of rapid growth."

Facebook

Mark Zuckerberg is More Interested in the Metaverse Than Election Integrity (yahoo.com) 46

Mark Zuckerberg's intense focus on the metaverse has replaced securing elections as the Meta CEO's top concern, four Meta employees with knowledge of the situation told The New York Times. From a report: Zuckerberg has been public with his desire to transform Meta -- formerly known as Facebook -- into a metaverse company, ploughing billions of dollars into developing metaverse technology.

The New York Times reports Meta's core election team has shrunk significantly since 2020. With the US midterms approaching, a reduced election team at Meta could mean less enforcement against misinformation. Whereas it used to comprise over 300 people, now 60 people spend their time focused on election security and some additional employees divide their time between elections and other projects, sources told The Times.

China

As China Shuts Out the World, Internet Access From Abroad Gets Harder Too (latimes.com) 9

Most internet users trying to get past China's Great Firewall search for a cyber tunnel that will take them outside censorship restrictions to the wider web. From a report: But Vincent Brussee is looking for a way in, so he can better glimpse what life is like under the Communist Party. An analyst with the Mercator Institute for China Studies in Berlin, Brussee frequently scours the Chinese internet for data. His main focus is information that will help him understand China's burgeoning social credit system. But in the last few years, he's noticed that his usual sources have become more unreliable and access tougher to gain.

Some government websites fail to load, appearing to block users from specific geographic locations. Other platforms require a Chinese phone number tied to official identification. Files that were available three years ago have started to disappear as Brussee and many like him, including academics and journalists, are finding it increasingly frustrating to penetrate China's cyber world from the outside. "It's making it more difficult to simply understand where China is headed," Brussee said. "A lot of the work we are doing is digging for little scraps of information."

Microsoft

Microsoft Will Start Banning Players From All Private Minecraft Servers (arstechnica.com) 78

Since its initial release over a decade ago (and even following Microsoft's 2014 acquisition of developer Mojang), Minecraft has let players create private servers where they're in full control of what behaviors (and players) are allowed. Next week, though, Microsoft is set to roll out a new update that lets it ban a Minecraft player from all online play, including private servers and those hosted on Microsoft's subscription-based Realms plan. From a report: Earlier this week, Microsoft launched a pre-release version of Update 1.19.1 for the Java Edition of Minecraft, which will go live for everyone on Tuesday, June 28. That update will add the ability to report users who abuse the game's chat system and allow for "reported players [to be] be banned from online play and Realms after moderator review." On a recently updated "Why Have I been Banned from Minecraft?" help page, Microsoft notes that banned players will also get a message when they "sign into Minecraft on any platform (non-Java Edition) [aka "Bedrock"]." That message will clarify that "banned players are not allowed to play on servers, join Realms, host or join multiplayer games, or use the marketplace. They are also not allowed to access Minecraft Earth. Xbox players will no longer have access to their worlds [emphasis added]."
Technology

Blockchain Startup Harmony Says $100 Million Was Stolen From Its Service (coindesk.com) 40

A popular product on the Harmony network was exploited for over $100 million in cryptocurrencies in what is one of the biggest crypto hacks in recent weeks. From a report: "The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM," the network's developers said in a tweet. "We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds. The Federal Bureau of Investigation (FBI), the domestic intelligence and legal enforcement agency of the U.S., and cybersecurity firms have joined the search for the attacker, they said in a subsequent tweet. Harmony's native ONE token slumped on news of the exploit, taking its decline in the past 24 hours to more than 12%.
Businesses

Software Maker Zendesk To Be Bought by Investor Group in $9.5 Billion Cash Deal (bloomberg.com) 5

Software maker Zendesk agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion. From a report: The all-cash transaction offers shareholders $77.50 a share, a premium of 34% over Zendesk's closing stock price on Thursday, the company said in a statement on Friday. The stock jumped about 29% to $74.75 on the news. Including debt, the deal is valued at about $10.2 billion. The announcement comes after Zendesk said earlier this month that it would remain independent after failing to find a potential buyer. The San Francisco-based company said June 9 that it would no longer seek to sell itself after a strategic review that reached out to 16 potential strategic partners and 10 financial sponsors. Ultimately, "no actionable proposals were submitted," Zendesk said in a statement, and final bidders cited "adverse market conditions and financing difficulties at the end of the process."
Windows

Microsoft Prepares To Forget About Windows 8.1 With End of Support Notifications (theverge.com) 100

Microsoft is preparing to send reminders to Windows 8.1 users that support will end on January 10th 2023. The software giant will start sending notifications to existing Windows 8.1 devices next month, as a first reminder leading up to the January 2023 support cutoff. From a report: The notifications will be similar to ones Microsoft has used in the past to remind Windows 7 users about end of support dates. Microsoft originally sunset Windows 8 support in 2016, but the Windows 8.1 update will cease support fully in January 2023. Microsoft will not be offering an Extended Security Update (ESU) program for Windows 8.1, so businesses won't be able to pay for additional security patches and will have to upgrade or accept the risk of running software without security updates.
Intel

Intel Delays Groundbreaking Ceremony for Ohio Plant Amid Uncertainty Over Chips Legislation (wsj.com) 63

Intel has told lawmakers and officials that it is delaying indefinitely the groundbreaking ceremony for a planned multibillion-dollar chip-manufacturing facility in Ohio, signaling frustration over uncertainty in Congress about legislation that would provide support for the U.S. chip industry. From a report: The ceremony had been tentatively scheduled for July 22. Intel informed the office of Ohio Gov. Mike DeWine and members of Ohio's congressional delegation on Wednesday that it was delaying the groundbreaking "due in part to uncertainty around" the chips-related legislation, known as the Bipartisan Innovation Act, according to an email reviewed by The Wall Street Journal.

Intel still plans to build the facility and hasn't pushed back the start of construction, said Intel spokesman Will Moss. Intel, which announced the plant plans in January, said it intended to invest at least $20 billion in the Ohio facility, with construction expected to begin in late 2022 and production to start in 2025. The company said in its announcement that spending on the Ohio project could reach around $100 billion over the next decade, but that the expansion depends in part on progress on the U.S. chips legislation.

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