Last year when Facebook blocked news in Australia in response to potential legislation making platforms pay publishers for content, it also took down the pages of Australian hospitals, emergency services and charities. It publicly called the resulting chaos "inadvertent." Internally, the pre-emptive strike was hailed as a strategic masterstroke. From a report: Facebook documents and testimony filed to U.S. and Australian authorities by whistleblowers allege that the social-media giant deliberately created an overly broad and sloppy process to take down pages -- allowing swaths of the Australian government and health services to be caught in its web just as the country was launching Covid vaccinations. The goal, according to the whistleblowers and documents, was to exert maximum negotiating leverage over the Australian Parliament, which was voting on the first law in the world that would require platforms such as Google and Facebook to pay news outlets for content.

Despite saying it was targeting only news outlets, the company deployed an algorithm for deciding what pages to take down that it knew was certain to affect more than publishers, according to the documents and people familiar with the matter. It didn't notify affected pages in advance they would be blocked or provide a system for them to appeal once they were. The documents also show multiple Facebook employees tried to raise alarms about the impact and offer possible solutions, only to receive a minimal or delayed response from the leaders of the team in charge. After five days that caused disorder throughout the country, Australia's Parliament amended the proposed law to the degree that, a year after its passage, its most onerous provisions haven't been applied to Facebook or its parent company, Meta Platforms. "We landed exactly where we wanted to," wrote Campbell Brown, Facebook's head of partnerships, who pressed for the company's aggressive stance, in a congratulatory email to her team minutes after the Australian Senate voted to approve the watered-down bill at the end of February 2021.

Google's cloud unit is forming a team to build services for developers running blockchain applications as the company tries to capitalize on the surging popularity of crypto and related projects. From a report: Amit Zavery, a vice president at Google Cloud, told employees in an email Friday that the idea is to make the Google Cloud Platform the first choice for developers in the field. "While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto related technologies," he wrote. "We're not trying to be part of that cryptocurrency wave directly," Zavery told CNBC in an interview. "We're providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises."

An anonymous reader shares a report: One of the key selling points of the blockchain is that it's immutable: Once data is processed, once a transaction occurs, it can't be undone. One of the most painful downsides to the blockchain? It's immutable. If human error causes something to be sold for the wrong price or money to be sent to the wrong place, reversing it can be difficult or even impossible. That is the unfortunate place developers of the Juno cryptocurrency find themselves. A community vote had decreed that around 3 million Juno tokens, worth around $36 million, be seized from an investor deemed to have acquired the tokens via malicious means. (This in itself was a big crypto news story.) The funds were to be sent to a wallet controlled by Juno token holders, who could vote on how it would be spent.

But a developer inadvertently copy and pasted the wrong wallet address, as reported by CoinDesk, leading to $36 million in crypto being sent to an inaccessible address. Andrea Di Michele, one of Juno's founding developers, explained to the publication that he sent the correct wallet address to the developer responsible for the transfer, as well as a hash number. Hashes connect blocks to one another in the blockchain, and at a glance hash numbers can look very similar to wallet addresses. The programmer in charge for the transfer accidentally copied and pasted the hash number, rather than the wallet address.

China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing's most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs. From a report: Staff were asked after the week-long May break to turn in foreign PCs for home-made alternatives that run on operating software developed domestically, people familiar with the plan said. The exercise, which was mandated by central government authorities, is likely to eventually replace at least 50 million PCs on a central-government level alone, they said, asking to remain anonymous discussing a sensitive matter. The decision advances China's decade-long campaign to replace imported technology with local alternatives, a sweeping effort to reduce its dependence on geopolitical rivals such as the U.S. for everything from semiconductors to servers and phones. It's likely to directly affect sales by HP and Dell, the country's biggest PC brands after local champion Lenovo Group.

YouTube Go is shutting down beginning this August, Google has announced this week. From a report: The lightweight Android app first launched in 2016 and features offline viewing and nearby sharing. Like other apps designed for emerging markets, YouTube Go includes a suite of features that take into consideration the high costs of data, poor signal strength and the prevalent use of SD cards on Android devices. YouTube Go first launched in India and later became available in more than 130 countries worldwide. The company notes that since 2016, it has invested in improvements to the main YouTube app that make it perform better in emerging markets, while also delivering a better user experience.

VPN companies are squaring up for a fight with the Indian government over new rules designed to change how they operate in the country. Wired: On April 28, officials announced that virtual private network companies will be required to collect swathes of customer data -- and maintain it for five years or more -- under a new national directive. VPN providers have two months to accede to the rules and start collecting data. The justification from the country's Computer Emergency Response Team (CERT-In) is that it needs to be able to investigate potential cybercrime. But that doesn't wash with VPN providers, some of whom have said they may ignore the demands.

"This latest move by the Indian government to require VPN companies to hand over user personal data represents a worrying attempt to infringe on the digital rights of its citizens," says Harold Li, vice president of ExpressVPN. He adds that the company would never log user information or activity and that it will adjust its "operations and infrastructure to preserve this principle if and when necessary." Other VPN providers are also considering their options. Gytis Malinauskas, head of Surfshark's legal department, says the VPN provider couldn't currently comply with India's logging requirements because it uses RAM-only servers, which automatically overwrite user-related data. [...] ProtonVPN is similarly concerned, calling the move an erosion of civil liberties.

Cameo, the celebrity video greetings startup, laid off 87 of staffers Wednesday, a move that CEO Steven Galanis described as "right-sizing." From a report: The layoffs also affected some of Cameo's most senior executives, Protocol has learned. Leadership departures included Cameo CTO Rob Post, top marketing executive Emily Boschwitz, CPO Nundu Janakiram and Chief People Officer Melanie Steinbach, according to a source close to the company. The team in charge of music partnerships saw big cuts, according to a LinkedIn post. Also affected by the layoffs were the company's international operations, including much of its London office, as well as a number of employees in sales and marketing, the source told Protocol. In some other lay off news: On Deck, a tech company that connects founders to each other, capital and advice, has laid off 25% off its staff, TechCrunch reported. The publication also reported that MainStreet, a startup that helps other startups uncover tax credits that was valued at $500 million last year, has laid off about 30% of its staff.

The White House released a memorandum Wednesday that outlines a national effort to promote leadership in quantum computing and calls for security advances to prepare for future cyberthreats from quantum computing before they arise. From a report: "Quantum information science -- we'll call it 'QIS,' for short -- is a rapidly emerging scientific discipline that combines our best understanding of the subatomic world -- quantum mechanics -- with our best understanding of information systems -- information theory -- to generate revolutionary technologies and insights," said a senior administration official during a background press call on Tuesday.

[...] The announcement goes on to note that quantum computers could be a problem for digital communications and security. Quantum research is thought to soon reach a point where a "cryptanalytically relevant quantum computer" is possible. These computers could jeopardize US communications, control systems of critical infrastructure and security protocols used for most internet-based financial transactions, according to the memorandum. "Current research shows that at some point in the not-too-distant future, when quantum information science matures and quantum computers are able reach a sufficient size and level of sophistication, they will be capable of breaking much of the cryptography that currently secures our digital communications," said the senior administration official.

Apple, Google, and Microsoft are launching a "joint effort" to kill the password. The major OS vendors want to "expand support for a common passwordless sign-in standard created by the FIDO Alliance and the World Wide Web Consortium." From a report: The standard is being called either a "multi-device FIDO credential" or just a "passkey." Instead of a long string of characters, this new scheme would have the app or website you're logging in to push a request to your phone for authentication. From there, you'd need to unlock the phone, authenticate with some kind of pin or biometric, and then you're on your way. This sounds like a familiar system for anyone with phone-based two-factor authentication set up, but this is a replacement for the password rather than an additional factor.

Some push 2FA systems work over the Internet, but this new FIDO scheme works over Bluetooth. As the whitepaper explains, "Bluetooth requires physical proximity, which means that we now have a phishing-resistant way to leverage the user's phone during authentication." Bluetooth has a terrible reputation for compatibility, and I'm not sure "security" has ever been a real concern, but the FIDO alliance notes that Bluetooth is just "to verify physical proximity" and that the actual sign-in process "does not depend on Bluetooth security properties." Of course, that means both devices will need Bluetooth on board, which is a given for most smartphones and laptops but could be a tough ask for older desktop PCs.

Facebook parent Meta Platforms has announced a sharp slowdown in hiring, ending an extended period in which the tech giant added thousands of jobs a year. From a report: "We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly," a Meta spokesperson said in a statement. "However, we will continue to grow our workforce to ensure we focus on long term impact." Specifically, Meta will be halting, or in some cases slowing, hiring for more mid- to senior-level positions, according to the company. This follows a recent pause on hiring early-career engineers a few weeks back. Like other tech giants, Meta has been a hiring juggernaut in recent years, more than doubling the size of its workforce since 2018. At the end of the first quarter, Meta counted 77,800 full-time employees, up 28% from a year earlier, according to the company's most recent quarterly report. The company doesn't have any plans for layoffs at this time, it said. Meta overshot some of its hiring goals -- it hired more people in the first quarter of 2022 than it did in all of 2021 -- and it is adjusting accordingly, the company said. The shift in hiring strategy comes after a string of disappointing quarters for the social-media company.

The Federal Aviation Administration (FAA) will meet Wednesday with telecom and airline industry officials on a push to retrofit and ultimately replace some airplane radio altimeters that could face interference from C-Band 5G wireless service. Reuters reports: The altimeters give data on a plane's height above the ground and are crucial for bad-weather landings, but airline concerns about wireless interference from a planned 5G rollout led to disruptions at some U.S. airports earlier this year. The FAA wants to use the meeting to establish "an achievable timeframe to retrofit/replace radar altimeters in the U.S. fleet," according to a previously unreported letter from the FAA's top aviation safety official Chris Rocheleau reviewed by Reuters. It also asked aviation representatives "to offer options and commit to actions necessary to meet these objectives."

The planned three-and-a-half hour roundtable meeting will also include a discussion on prioritizing retrofits with antenna filters, which mitigate potential interference from 5G. Antenna filters are currently in production, officials said. A key question is how to determine which planes are most at risk of interference and should therefore get retrofitted first. The meeting will also look at what is set to happen after July 5 and outline "changes to U.S. national airspace operating environment as a result of future 5G C-band deployment in the coming months."

An anonymous reader quotes a report from CNET: Volvo will only sell electrified cars in the US beginning with the 2023 model year, the automaker confirmed Tuesday. "Electrified" means that in addition to EVs, Volvo will continue to offer gas-powered cars, but they'll all either have mild-hybrid or plug-in hybrid technology. Volvo will continue to offer plug-in hybrid powertrains, as well. In fact, these T8 Recharge models recently received a power boost, in addition to increased electric-only driving range. The 2023 model year Volvos should arrive at dealers this summer. Meanwhile, Volkswagen says it has "sold out" of battery-powered models in the U.S. and Europe for this year as persistent supply chain bottlenecks hit global production.

Stripe, one of the world's most valuable startup ($95 billion), today launched Financial Connections, which will enable businesses and their customers to safely share their financial data. "Businesses can go directly to Stripe to access a privacy-first authentication flow and our new data API," Jay Shah, Stripe executive running Financial Connections said today. Or in other words, Stripe has launched its Plaid competitor. Following the announcement from Shah, Plaid CEO Zachary Perret tweeted: Wow! Jay, you took interviews with Plaid & asked probing questions multiple times over the past few years, and your team sent repeated RFP's (under NDA!) to us asking for tons of detailed data. I wish y'all the best with these products, but surprising to see the methods.

TikTok is launching a new way for the top creators on its billion-user app make money -- and for advertisers to reach the cream of the short-form video crop. Variety reports: The company announced TikTok Pulse, an advertising program to let marketers buy inventory in the top 4% of all videos on the platform in a dozen different categories (including beauty, fashion, cooking and gaming). Creators and publishers with at least 100,000 followers will be eligible to participate in the initial stage of TikTok Pulse. The company said that with the launch of Pulse, it will "begin exploring" its first advertising-revenue share program with creators, public figures and media publishers.

TikTok Pulse will roll out first in the U.S. in June, with additional markets to follow in the fall, according to Sofia Hernandez, TikTok's global head of business marketing. "This finally offers marketers something they have been asking for for years -- to be part of a community," she said.

An anonymous reader shares a report: A funny thing happened in 2020: AMD won the gaming laptop for the first time ever. Until the Asus Zephyrus G14, we'd never seen a laptop with an AMD CPU and AMD GPU run circles around the competition. Since then, we've repeatedly seen that "AMD laptop" no longer means cheap. But now, AMD is setting its sights higher than mid-range gaming machines -- it just revealed it's building a new CPU aimed at the "pinnacle of gaming performance" with the "highest core, thread and cache ever." The new CPU line is codenamed "Dragon Range," and they'll live exclusively at 55W TDP and up -- enough power that they'll "largely exist in the space where gaming laptops are plugged in the majority of the time," says AMD director of technical marketing Robert Hallock.

Google is scrapping a time-consuming, twice-a-year staff performance review process in an effort to improve morale and reduce the time employees spend preparing the assessments, The Information reported Wednesday, citing people familiar with the changes. From the report: CEO Sundar Pichai told staff Wednesday that the new program, which will take place only once a year, aims to give more employees a sense of accomplishment and acknowledge that "most Googlers are doing great work." The new system, which also creates an easier path to promotions, came after only 53% of Googlers said in surveys that the current system is "time well spent," Pichai said. The change makes Google the latest Silicon Valley company to switch to less-frequent reviews. Meta last year said it would conduct performance reviews once per year rather than twice. Google has for years conducted extensive performance review processes twice a year through a process that required extensive preparation from employees and managers. Now, the review process will happen once a year and staff won't have to prepare packets of information ahead of time, the company told employees. The company will still consider promotions twice a year.

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday -- its most aggressive move since 2000 -- and signaling further large rate hikes to come. From a report: The increase in the Fed's key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago. The Fed also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds. Those holdings more than doubled after the pandemic recession hit as the Fed bought trillions in bonds to try to hold down long-term borrowing rates. Reducing the Fed's holdings will have the effect of further raising loan costs throughout the economy. All told, the Fed's credit tightening will likely mean higher loan rates for many consumers and businesses over time, including for mortgages, credit cards and auto loans. Speaking at a news conference Wednesday, Chair Jerome Powell made clear that further large rate hikes are coming. "There is a broad sense on the committee," he said, referring to the Fed, "that additional (half-point) increases should be on the table in the next couple of meetings."

Amazon said on Wednesday that it aims to export locally produced Indian goods worth $20 billion by 2025, doubling its initial goal of $10 billion set for the same time frame as the e-commerce group attracts over 100,000 exporters in the key overseas market. From a report: It took the company -- which launched its exports program, called Amazon Global Selling, in India in 2015 -- three years to clock exports of $1 billion from the country, it said. The firm added the last $2 billion in just 17 months, it said at a virtual event Wednesday. In total, the company said it is on track to hit $5 billion in cumulative exports from India. "We are excited to build a strong foundation for MSMEs to realize their export potential, help them become globally competitive and contribute towards honorable Prime Minister's vision of making India an export powerhouse," said Amit Agarwal, SVP of India and Emerging Markets for Amazon, at the event.

Venture capital returns have puked this year. The next dangerous stage is investor outflows. Financial Times: Back in the halcyon days of ... early 2021, it looked like venture capital was the hottest game in town. Hedge funds were piling in. Even private equity firms were getting involved in early-stage company investing. Investors loved the combination of fat returns and the lack of volatility in private markets. But the VC cycle now looks like it has hit a sudden stop. Refinitiv's venture capital index, which uses the performance of individual VC portfolios and listed stocks to mimic the performance of the broader industry, tanked another 24.2 per cent in April, taking its 2022 loss to a comically bad 45.8 per cent (NB, the Nasdaq is "only" down 19.7 per cent YTD).

That is comfortably its worst monthly performance since worst of the dotcom bust two decades ago. Of course, a lot of venture capital funds are unlikely to be marking down their books to anywhere near these levels. Some may just be doing better than others (performance persistence is higher in VC than in any other investment industry), but the advantage of private market accounting and negotiated and infrequent funding rounds means that valuations and returns can be massaged a little. There might even be a bit of schadenfreude at the pain suffered by Tiger Global lately, which many venture capitalists saw as an annoyingly uppity interloper-dilettante in Silicon Valley. But the reality is that the bottom has dropped out of tech stock valuations lately -- both public and private -- and anyone who is not marking down their positions heavily might actually unnerve investors more than assuage them.

An anonymous reader shares a report: The realm of physics offers the exciting possibility of "wormholes" that could let us collapse space and time. But here on Earth, most of us are subject to more mundane realities -- including that the rich and powerful usually get what they want. Dick Merryman, a 79-year-old computer engineer, got a reminder of that last month when Jump Operations -- the holding company for crypto giant Jump Trading -- put the legal screws to him to obtain wormhole.com, a domain he has owned for years and that corresponds to an email he created for he and his wife. For Merryman, the domain reflects his fondness for astrophysicist Carl Sagan, whose 1985 novel "Contact" deployed a "wormhole" to let characters skip across light years. Merryman purchased the wormhole.com domain in 1994, creating a simple placeholder website that displays a cosmic picture.

For Jump, however, "wormhole" has a very different significance. It is the name of a crypto platform that creates "bridges" between popular blockchains such as Solana and Ethereum, and in which Jump has a very significant investment. While Jump is currently using the wormholenetwork.com to host Wormhole-related content, it has coveted the shorter name owned by Merryman, and began trying to acquire it last year. In June of 2021, someone at Jump used a third-party domain broker to approach Merryman and offer $2,500 for the name. The latter rebuffed the request, saying -- perhaps in jest -- that the price was a "firm US$50000." To Merryman's surprise, Jump promptly accepted the offer -- an acceptance that Merryman proceeded to ignore. After being badgered by the broker, he made his feelings clear a few weeks later. Jump then pulled out the big guns. The company's lawyers warned Merryman he was in breach of contract and that he had to honor the message saying he would sell for $50,000.