Posts with «personal investing ideas & strategies» label

TikTok tells senators how it plans to beef up data security for American users

In a letter to nine Republican senators, TikTok said it's working to "remove any doubt about the security of US user data." CEO Shou Zi Chew reiterated a claim that TikTok stores American user data on servers run by Oracle, which will be audited by a third party. Chew also said the company expects to "delete US users' protected data from our own systems and fully pivot to Oracle cloud servers located in the US."

"[We] are working with Oracle on new, advanced data security controls that we hope to finalize in the near future," Chew wrote in the letter, which was obtained by The New York Times. "That work puts us closer to the day when we will be able to pivot toward a novel and industry-leading system for protecting the data of our users in the United States, with robust, independent oversight to ensure compliance."

Chew was responding to questions in a letter sent by the Republican senators — including Roger Wicker, the ranking Republican member of the Senate Commerce Committee — following a report by BuzzFeed News. The publication reported last month that China-based engineers of ByteDance, TikTok's parent company, accessed non-public data on users in the US between at least September 2021 and January 2022.

The report also prompted Brendan Carr, the Federal Communication Commission's senior Republican commissioner, to call on Apple and Google to remove the TikTok app from their stores. Carr requested a response from the companies by July 8th if they choose not to remove TikTok from the App Store and Play Store, respectively.

In the letter, Chew refuted much of BuzzFeed News' reporting, though conceded that ByteDance workers outside the US can access American user data "subject to a series of robust cybersecurity controls and authorization approval protocols overseen by our US-based security team. In addition, TikTok has an internal data classification system and approval process in place that assigns levels of access based on the data's classification and requires approvals for access to US user data."

Legislators have been raising security concerns about TikTok over the last few years. In August 2020, then-president Donald Trump signed an executive order that would have made it difficult, if not impossible, for the app to operate in the US. The following month, Trump approved, in principle, a deal that would see Oracle and Walmart take a stake in a new company that would run TikTok's business in the US. Microsoft was also in the running to secure a deal.

A federal judge struck down Trump's order just before it was supposed to take effect. President Joe Biden rescinded the order in January 2021, but signed a separate one that required a security review of that app and WeChat. The following month, the Oracle and Walmart deal was reportedly put on hold indefinitely.

‘Axie Infinity’ relaunches following $625 million hack

After a massive $625 million hack, the cryptocurrency pay-to-earn game Axie Infinity is once again open for business. The hack took advantage of flaws in the Ronin network, an Ethereum sidechain the game's owner, Sky Mavis, propped up to facilitate faster transactions. Surprisingly, the news today is that Axie Infinity will... continue to use Ronin, which has been revived after a few audits. In a blog post, the company described a new “circuit-breaker” system designed to flag “large, suspicious withdrawals,” withdrawal limits and human reviewers. It also promised players that a new land staking feature — which claims to allow the game's owners of digital land to earn passive income — will be released later this week.

In March, a group of hackers pilfered nearly 173,600 Ethereum and nearly 26 million USDC (worth roughly $26 million) from the game’s network. US officials have since linked the North Korean-backed hacking group Lazarus to the heist. Last week Sky Mavis said it would begin reimbursing the victims of the hack — but didn't account for Ethereum’s drop in value over the past three months, which means that users would only recover about a third of their losses. In all, Sky Mavis is returning $216.5 million in funds to its users.

Moving forward, Axie Infinity players are warned not to send funds directly to Ronin Bridge’s smart contract address. “The Ronin Bridge should only be accessed and used for deposits/withdrawals through the Ronin Bridge UI. Any funds sent directly to the Ronin Bridge’s contract addresses will be permanently lost," wrote the company in its post.

Esports.net recently pointed out a flaw in Axie Infinity’s design — a drop in the number of players causes the value of its in-game currency to plummet. Bloomberg noted earlier this month that the game’s user base has declined by 40 percent since the hack. As of this writing, the value of AXS is at $15.30 (a drop from its high of $160.36 in July 2021) and the value of SLP is at 0.0039 (down from an all-time high of 0.364).

Apple’s mixed reality headset may feature an M2 processor

The latest version of Apple’s long-rumored mixed reality headset features the company’s recently announced M2 system-on-a-chip and 16GB of RAM, according to Mark Gurman. The Bloomberg reporter shared the tidbit of information in his latest Power On newsletter – along with details on a “deluge” of devices Apple plans to release over the next year, including a new HomePod speaker.

As The Verge points out, most recent reports, including those from Apple analyst Ming-Chi Kuo and The Information, have suggested the augmented and virtual reality headset would feature two processors. According to Kuo, one of the SoCs would have the same capabilities as the company’s M1 chip, while the other would be a lower-end chip designed to handle data from the device’s sensors.

After years of rumors, there’s been increasing evidence Apple is getting closer to the day when it will finally announce its mixed reality headset. In May, a Twitter user found evidence Apple likely used a shell company to obtain trademarks for “RealityOS.” Earlier in the year, developers also found references to the operating system in App Store upload logs. More recently, Tim Cook told China Daily he “couldn’t be more excited about the opportunities” presented by augmented and virtual reality, and told the publication to “stay tuned and you will see what we have to offer” on that front.

Robots learn to shape letters using Play-Doh

Humans aren't the only ones working with Play-Doh. MIT CSAIL researchers have created a system, RoboCraft, that teaches robots how to work with the kid-friendly goo. The platform first takes the image of a shape (in this case, a letter of the alphabet) and reinterprets it as a cluster of interlocking particles. The bot then uses a physics-oriented neural network to predict how its two "fingers" can manipulate those spheres to match the desired outcome. A predictive algorithm helps the machine plan its actions.

The technology doesn't require much time to produce usable results. It took just ten minutes of practice for an robot to perform roughly as well (and in some cases better) than humans remote-controlling the same hardware. That's not the same as having a human shape the Play-Doh by hand, but it's no mean feat for a machine discovering how to perform the task for the first time. Robots frequently struggle with soft objects where they tend to thrive with firm shapes.

RoboCraft-trained bots aren't about to produce elaborate sculptures. The results are still imprecise, and the machine works slowly using just two fingers. The team is already developing a method of making dumplings, though, and plans to teach robots to use additional tools (such as a rolling pin) to prep the food.

The CSAIL scientists already have an idea of where the technology might be deployed. Kitchen robots could take over more responsibilities, while artistic automatons might create pottery. Eventually, technology like this could help the elderly and people with mobility issues by taking over household duties that require subtle motor skills.

The Obamas are leaving Spotify for Audible

Barack and Michelle Obama are heading to Audible. On Tuesday, the Amazon-owned company announced an exclusive multiyear first-look production deal with the former first couple’s Higher Ground media company.

The deal comes after it came out that the Obamas and Spotify had decided not to extend their exclusive podcast partnership beyond the end of 2022. According to a Bloomberg report published in April, the family wanted an agreement that would see their content distributed widely across various platforms, and that’s what this deal with Audible will allow the Obamas to do. It will also let the couple take a more behind-the-scenes role in future productions, a request that Spotify reportedly met with pushback when it came to their recent negotiations.

“At Higher Ground, we have always sought to lift up voices that deserve to be heard — and Audible is invested in realizing that vision alongside us,” former President Obama said. “I’m looking forward to partnering with them to tell stories that not only entertain but also inspire.”

Audible did not disclose the financial terms of its agreement with Higher Ground. The Obamas’ previous deal with Spotify was rumored to be worth around $25 million. That partnership produced Renegades: Born in the USA with Barack Obama and Bruce Springsteen, as well as The Michelle Obama Podcast. The latter was among the most popular original podcasts Spotify released in 2020.

Amazon is opening a center for quantum networking research

Several major companies are working on quantum computing projects, including IBM and Google. Amazon is also in the mix. The company opened the AWS Center for Quantum Computing last year and has offered quantum computing via Amazon Web Services since 2019. It's expanding that work to what it says is an essential aspect of helping quantum tech reach its full potential: quantum networking. As such, the company has announced the AWS Center for Quantum Networking (CQN).

As with quantum computing, it's early days for quantum networking. It will likely take several more years before researchers start getting the most out of quantum tech. However, Amazon has more resources than most to invest in the field.

Amazon notes that quantum networks will be able to connect quantum devices using single photons rather than laser beams (which are utilized in modern optical communications). However, along with enabling certain capabilities of quantum networks, there are some hurdles to overcome when it comes to using a single photon. Quantum mechanics limits the amplification of a single photon, which restricts the range of a network. "Also, the weakness of single photons complicates interfacing them with today’s quantum computing devices," CQN research scientists Denis Sukachev and Mihir Bhaskar wrote in a blog post.

Researchers at the center will work on new technologies, such as quantum repeaters and transducers, to allow for the creation of global quantum networks. They'll develop hardware, software and apps for quantum networks.

Among the potential applications of quantum networking is "enabling global communications protected by quantum key distribution with privacy and security levels not achievable using conventional encryption techniques," Sukachev and Bhaskar wrote. "Quantum networks will also provide powerful and secure cloud quantum servers by connecting together and amplifying the capabilities of individual quantum processors."

UK regulator plans to launch probe into Google's and Apple's mobile duopoly

The UK's Competition and Markets Authority (CMA) has concluded that Google and Apple "hold all the cards" when it comes to mobile phones a year after taking a closer look at their "duopoly." It's now consulting on the launch of a market investigation into the tech giants' market power in mobile browsers, as well as into Apple's cloud gaming restrictions. In addition, the CMA has launched a separate investigation into Google's Play Store rules — the one that requires certain app developers to use the tech giant's payment system for in-app purchases, in particular. 

The CMA has concluded after its year-long study that the tech giants do indeed exhibit an "effective duopoly" on mobile ecosystems. A total of 97 percent of all mobile web browsing in the UK is powered by Apple's and Google's browser engines. iPhones and Android devices typically come with Safari and Chrome pre-installed, which means their browsers have the advantage from the start. Further, Apple requires developers to make sure their iOS and iPadOS apps are using its WebKit engine to browse the web. That limits the incentives Apple may have to invest in Safari, the CMA said.

The agency also pointed out that Apple enforces policies that prevent cloud gaming apps from being available to download from its App Store. Under its rules, cloud gaming services would have to individually submit each playable game for review and approval if they want to be listed. The company eventually carved out an exception, but only to make services like Xbox Cloud Gaming available on iOS devices through a browser.

In its announcement, the CMA explained that the lack of intervention would allow the tech giants to maintain and even strengthen their hold not just over mobile browsers, but also over mobile operating systems and app stores. Their duopoly could stifle competition and limit incentives for individuals and other companies to innovate and develop new products and technologies for those markets. 

Winkelvoss twins' crypto exchange faces lawsuit over $36 million theft

The Winklevoss twins might soon head to court. The Vergenotes retirement savings firm IRA Financial Trust has sued the twins' crypto exchange Gemini over allegations the business didn't adequately protect customers against a February 8th breach where intruders stole $36 million in Bitcoin and Ethereum assets. The company didn't have "proper safeguards" to prevent the theft, according to IRA, and didn't freeze accounts quickly enough to block the thieves from transferring money.

The trust firm specifically rejected claims that Gemini's protections prevented a "single point of failure." Gemini made IRA the parent account for its customers (who use sub-accounts), and gave it a "master key" that was reportedly exchanged in numerous insecure emails. Combine that with security flaws in Gemini's system and you probably know what happened next — hackers got control of IRA's key, moved the crypto into a single user's retirement account, and withdrew the digital cash. The perpetrators also appear to have swatted Gemini during the February incident, making a fake kidnapping call to police. 

Gemini's other security measures didn't hold up, the IRA added. It supposedly shouldn't have been possible to transfer money between accounts if the exchange had either properly implemented two-factor authentication or prohibited transfers between retirement funds. The trust noted that it didn't have the power to freeze accounts itself, and that it took six emails to lock down all affected users. We've asked Gemini for comment.

This adds to mounting problems for the Winkelvoss' outfit. It recently laid off 10 percent of staff to deal with a plunge in the cryptocurrency market, and the Commodity Futures Trading Commission sued Gemini for purportedly misleading customers in parts of its exchange and futures contract. While none of these problems may necessarily be fatal, they suggest the Winklevii could face financial trouble for a while to come.

Uber and Waymo are working together on long-haul autonomous trucking

Waymo and Uber have signed a long-term, strategic partnership to collaborate on long-haul autonomous trucking. They'll blend Waymo's self-driving tech with Uber Freight's network. The idea is to help customers deploy autonomous trucks more efficiently.

Those who buy trucks equipped with the Waymo Driver system will be able to tap into Uber Freight's marketplace technology, meaning they'll be able to deploy vehicles on the latter's network for deliveries. Uber Freight is essentially a version of the regular Uber app designed for shippers, which helps them find truck drivers for on-demand haulage.

Waymo Via — the company's trucking division — plans to earmark billions of miles of goods-only driverless delivery capacity for the Uber Freight network. It will only make that mileage available "when shippers need it most."

The companies will trial the integration on Waymo Via's test fleet at the outset. The timeline for a broader deployment is not clear. The companies say that by letting autonomous systems handle the long-haul aspect of trucking, they foresee a future where drivers will be able to move into short-haul jobs.

Uber and Waymo haven't always been on the same page. In 2017, Waymo owner Alphabet sued Uber over the alleged theft of trade secrets by former employees. The previous year, Uber bought a self-driving truck startup called Otto, which was founded by a number of ex-Alphabet employees, including engineer Anthony Levandowski.

Alphabet claimed Levandowski downloaded more than "14,000 highly confidential and proprietary design files for Waymo's various hardware systems" a few weeks before he quit the company. Levandowski was sentenced to 18 months in prison in 2020 and pardoned the following January by outgoing president Donald Trump.

Uber and Waymo settled the suit in 2018. After the companies resolved their differences, it was reported that Uber was open to the idea of collaborating with Waymo.

Apple will let you use iPhones for video chats on Mac (because its webcams stink)

iPhone users are walking around with great cameras in their pockets, so why not use that with their Macs? That's the basic idea behind Continuity Camera, a new feature that'll let you plop on iPhone on top of your Mac, and use those mobile cameras to power video chats in FaceTime, Teams and any other conferencing app. While cool, the feature is a bit clunkier than typical Apple offerings, since it requires a phone stand. It's also a slight admission from Apple that its laptop and desktop webcams aren't the best around. (That's something we noticed with the pricey Studio Display.) 

The entire Continuity Camera setup works wirelessly, and it also brings over features like Center Stage, which helps the camera follow you around the room. It can also tap into your phone's ultrawide camera to show a top-down view of your desk. Mostly, though, it's a nice way to get better background blur and lighting effects for all of your video chats. The only problem? You won't be able to surreptitiously use your phone while you're stuck in a work meeting. 

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