The Almighty Buck

The People GoFundMe Leaves Behind (theoutline.com) 213

citadrianne shares a report from The Outline: President Donald Trump's proposed budget seeks to slash $54 billion from social services including programs like Medicaid and Meals on Wheels. As these resources dry up, crowdfunding websites will further entrench themselves as extra-governmental welfare providers in order to fill the gap. For a lucky few, these sites are a lifeline. For most people, they are worthless. Crowdfunding's fatal flaw is that not every campaign ends up getting the money it needs. A recent study published in the journal Social Science & Medicine found that more than 90 percent of GoFundMe campaigns never meet their goal. For every crowdfunding success story, there are hundreds of failures. "As many happy stories as there are in charitable crowdfunding, there are a lot of really worthy causes when you browse these platforms that nobody has given a cent to," Rob Gleasure, professor at the business school of the National University of Ireland, Cork told The Outline. "People haven't come across them." Feller and Gleasure's report highlighted how fickle crowdfunding can be. Of all the Razoo campaigns started in 2013, they found, more than a third didn't receive any funding at all. According to their report, donors are more likely to give to campaigns that feature lots of pictures and accompanying text.
Businesses

6 Female Founders Accuse VC Justin Caldbeck of Making Unwanted Advances (techcrunch.com) 349

An anonymous reader quotes a report from TechCrunch: Yesterday The Information reported on allegations made by half a dozen women working in the tech industry who say they have faced unwanted and inappropriate advances from Silicon Valley venture capitalist, Justin Caldbeck, co-founder and managing partner of Binary Capital. The women include Niniane Wang, co-creator of Google Desktop and a prior CTO of Minted; and Susan Ho and Leiti Hsu, co-founders of Journy, a travel planning and booking service. The Information also talked to three other women who said Caldbeck made inappropriate advances to them. It says these women did not want their names disclosed for fear of retaliation from the VC -- and because of wider concerns they might suffer a backlash from men in the industry who don't see inappropriate advances as a problem. Among the allegations made to The Information are that Caldbeck sent explicit text messages to women; that Caldbeck sent messages in the middle of the night suggesting meeting up; that Caldbeck suggested going to a hotel bedroom during a meeting; that Caldbeck made a proposition about having an open relationship; and that Caldbeck grabbed a woman's thigh under the table of a bar during a meeting. Several of the women reported finding Caldbeck's advances so awkward they gave up on continued dealings with him. In Caldbeck's initial statement, he "strongly" denied the allegations and claimed: "I have always enjoyed respectful relationships with female founders, business partners, and investors." However, in response to The Information's story, his tone changed significantly: "Obviously, I am deeply disturbed by these allegations. While significant context is missing from the incidents reported by The Information, I deeply regret ever causing anyone to feel uncomfortable. The fact is that I have been privileged to have worked with female entrepreneurs throughout my career and I sincerely apologize to anyone who I made uncomfortable by my actions. There's no denying this is an issue in the venture community, and I hate that my behavior has contributed to it." Caldbeck has since released a full statement to Axios, where he says he "will be taking an indefinite leave of absence from Binary Capital..."
China

Tesla Is 'In Talks' To Build a Factory In China (qz.com) 53

Tesla confirmed yesterday that it is "in talks" with the municipal government of Shanghai to manufacture its vehicles in the country. Tesla said in a statement: "Tesla is working with the Shanghai Municipal Government to explore the possibility of establishing a manufacturing facility in the region to serve the Chinese market. As we've said before, we expect to more clearly define our plans for production in China by the end of the year. Tesla is deeply committed to the Chinese market, and we continue to evaluate potential manufacturing sites around the globe to serve the local markets. While we expect most of our production to remain in the U.S., we do need to establish local factories to ensure affordability for the markets they serve." Quartz reports: The announcement follows more than a year of speculation that the electric-vehicle maker would set up shop in China, and confirms that Tesla is altering its China strategy away from merely exporting vehicles in order to reach more Chinese consumers. Earlier this year, Musk made a stealth visit to China to visit Wang Yang, one of the nation's highest-ranking officials, to discuss Tesla's plans. Tesla has been selling vehicles in China since 2014, but to date, its share of the electric vehicle market remains marginal, at just 2% as of June 2016, according to trade blog CleanTechnica. There are several reasons for this, one of which is price. Tesla currently exports its vehicles to China, and the government places an import tax of 50% on Tesla cars. The sticker price for the most simple Model S in China is $104,972, compared to $69,500 in the US.
Businesses

'Chiropractors Are Bullshit' (theoutline.com) 279

From an article on The Outline, submitted by two readers: If you're one of the approximately 80 percent of Americans who have suffered from back pain, you may have been referred to a chiropractor for medical help. In the modern-day internet landscape, you'll find chiropractic celebrities like Dr. Josh Axe (1.7 million Facebook followers), Dr. Billy DeMoss (20,000 Facebook followers), and Dr. Eric Berg (472,000 YouTube subscribers) giving advice that goes beyond managing spinal issues. Both in their offices and on social media, chiropractors have adapted to a marketplace that's demanding more than just pain management: they extol the virtues of an "alkaline diet," tell you how to manage stress with detoxing, and wax scientific about the adrenal gland. [...] Chiropractic care, I'm sorry to say, is little more than the buffoonery of a 19th-century lunatic who derived most of his medical theory from seances. It has not evolved much since its creation. Chiropractic beliefs are dangerously far removed from mainstream medicine, and the vocation's practices have been linked to strokes, herniated discs, and even death. Chiropractors can't replace your doctor, and I'm amazed that they're still even allowed to practice. [...] Though some chiropractors are now making an effort to introduce evidence-based practices into their treatment, chiropractic as a whole hasn't evolved like other areas of medicine -- with hypotheses, experimentation, and peer review. Instead, it was birthed by a strange combination of hocus pocus, guesswork, and strongly held religious beliefs.
Businesses

IT Services Company Wipro Forces 600 Employees To Work In Bed Bug Infested Office (11alive.com) 121

McGruber writes: Information Technology Services CorporationWipro's 600-employee call center in Chamblee, Georgia is in infected with bed bugs according to Atlanta television station 11Alive. The facilities manager admits there is a bed bug problem and it's been an issue since late May. Employees told the tv station that the bugs are all over the three floors -- and they're biting. But employees are being told they still must go to work. Kwanita Holmes sent 11Alive photos of what she said is a bed bug bite on her arm: "We're at work 8 hours a day and we're getting munched on all day," she said. Wipro said it's paying for in-home bed bug consultations and treatments for employees.
Businesses

Gwyneth Paltrow's Goop $120 'Bio-Frequency Healing' Sticker Packs Get Shot Down by NASA (fastcompany.com) 211

From a report: Goop had claimed the costly "Body Vibes" stickers were "made with the same conductive carbon material NASA uses to line space suits so they can monitor an astronaut's vitals during wear" and because of that were able to "target imbalances" of the human body's energy frequencies when they get thrown out of whack, reports Gizmodo. The thing is, NASA confirmed to Gizmodo that they "do not have any conductive carbon material lining the spacesuits" of astronauts. Further reading: The unbearable wrongness of Gwyneth Paltrow - The Outline.
Google

Google Will Stop Reading Your Emails For Gmail Ads (bloomberg.com) 67

Google will soon stop scanning emails received by some Gmail users, a practice that has allowed it to show them targeted advertising but which stirred privacy worries. From a report: The decision didn't come from Google's ad team, but from its cloud unit, which is angling to sign up more corporate customers. Alphabet's Google Cloud sells a package of office software, called G Suite, that competes with market leader Microsoft. Paying Gmail users never received the email-scanning ads like the free version of the program, but some business customers were confused by the distinction and its privacy implications, said Diane Greene, Google's senior vice president of cloud. "What we're going to do is make it unambiguous," she said. Ads will continue to appear inside the free version of Gmail, as promoted messages. But instead of scanning a user's email, the ads will now be targeted with other personal information Google already pulls from sources such as search and YouTube.
China

Chinese Government Fabricates Social Media Posts for Strategic Distraction, not Engaged Argument (cnet.com) 68

Abstract of a study: The Chinese government has long been suspected of hiring as many as 2,000,000 people to surreptitiously insert huge numbers of pseudonymous and other deceptive writings into the stream of real social media posts, as if they were the genuine opinions of ordinary people. Many academics, and most journalists and activists, claim that these so-called "50c party" posts vociferously argue for the government's side in political and policy debates. As we show, this is also true of the vast majority of posts openly accused on social media of being 50c. Yet, almost no systematic empirical evidence exists for this claim, or, more importantly, for the Chinese regime's strategic objective in pursuing this activity. In the first large scale empirical analysis of this operation, we show how to identify the secretive authors of these posts, the posts written by them, and their content. We estimate that the government fabricates and posts about 448 million social media comments a year. In contrast to prior claims, we show that the Chinese regime's strategy is to avoid arguing with skeptics of the party and the government, and to not even discuss controversial issues. From a CNET article, titled, Chinese media told to 'shut down' talk that makes country look bad: Being an internet business in China appears to be getting tougher. Chinese broadcasters, including social media platform Weibo, streamer Acfun and media company Ifeng were told to shut down all audio and visual content that cast the country or its government in bad light, China's State Administration of Press, Publication, Radio, Film and Television posted on its website on Thursday, saying they violate local regulations. "[The service providers] broadcast large amounts of programmes that don't comply with national rules and propagate negative discussions about public affairs. [The agency] has notified all relevant authorities and ... will take measures to shut down these programmes and rectify the situation," reads the statement.
Businesses

Samsung Begins Production For Its First Internet of Things-optimised Exynos Processor (zdnet.com) 50

An anonymous reader shares a report: Samsung Electronics has launched the Exynos i T200, its first processor optimised for Internet of Things (IoT) devices, the company has announced. The South Korean tech giant said the chip has upped security and supports wireless connections, with hopes of giving it an advantage in the expanding IoT market. The Exynos i T200 applies Samsung's 28-nanometer High-K Metal Gate process and has multiple cores, with the Cortex-R4 doing the heavy lifting and an independently operating Cortex-M0+ allowing for multifunctionality. For example, if applied to a refrigerator, Cotext-R4 will run the OS and Cotex-M0+ will power LED displays on the doors.
Businesses

Trump Plans To Dismantle Obama-Era 'Startup Visa' (arstechnica.com) 316

An anonymous reader quotes a report from Ars Technica: A regulation from the Obama administration that would have allowed foreign-born entrepreneurs who raise investor cash to build their startups in the U.S. won't be allowed to go into effect. The Department of Homeland Security will file an official notice to delay the International Entrepreneur Rule for eight months. The intention is to eliminate the rule entirely, according to sources briefed on the matter who spoke to The Wall Street Journal. The decision isn't final, and a DHS spokesperson told the WSJ that the department "cannot speculate" on the outcome of the review. The International Entrepreneur Rule, signed by former President Obama days before he left office in January, doesn't offer a visa but rather a type of "parole" that would allow immigrants to stay in the U.S. temporarily as long as they meet certain requirements. In order to qualify, a foreign entrepreneur has to raise at least $250,000 from well-known U.S. investors. The rule grants a stay in the U.S. of 30 months, which can be extended for an additional 30 months. Founders can't apply for a green card during that time. DHS has estimated about 3,000 entrepreneurs would qualify under the rule.
Advertising

Home Improvement Chains Accused of False Advertising Over Lumber Dimensions (consumerist.com) 533

per unit analyzer writes: According to Consumerist, an attorney has filed a class-action lawsuit charging Home Depot (PDF) and Menards (PDF) with deceptive advertising practices by selling "lumber products that were falsely advertised and labeled as having product dimensions that were not the actual dimensions of the products sold." Now granted, this may be news to the novice DIYer, but overall most folks who are purchasing lumber at home improvement stores know that the so-called trade sizes don't match the actual dimensions of the lumber. Do retailers need to educate naive consumers about every aspect of the items they sell? (Especially industry quirks such as this...) Furthermore, as the article notes, it's hard to see how the plaintiffs have been damaged when these building materials are compatible with the construction of the purchaser's existing buildings. i.e., An "actual" 2x4 would not fit in a wall previously built with standard 2x4s -- selling the something as advertised would actually cause the purchaser more trouble in many cases.
Businesses

McDonald's Hits All-Time High As Wall Street Cheers Replacement of Cashiers With Kiosks (cnbc.com) 612

McDonald's is expected to increase its sales via new digital ordering kiosks that will replace cashiers in 2,500 restaurants. As a result, the company's shares hit an all-time high, rallying 26 percent this year through Monday. CNBC reports: Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald's calls "Experience of the Future," includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery. "MCD is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul most conspicuous through kiosk ordering and table delivery," Charles wrote in a note to clients Tuesday. "Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales]." He raised his 2018 U.S. same store sales growth estimate for the fast-food chain to 3 percent from 2 percent.
Businesses

Wireless and Drone Execs Praised President Trump as He Pledged To Cut Down Regulations (recode.net) 86

U.S. President Donald Trump offered support for emerging technologies including unmanned aerial vehicles and next-generation wireless networks in a meeting on Thursday with the chiefs of AT&T and General Electric and other business leaders. From a report: For the likes of AT&T CEO Randall Stephenson, the public audience with Trump offered an opportunity to continue nudging the U.S. government -- including in a scheduled, private session with the leader of the Federal Communications Commission earlier Thursday -- to cut back on restrictions that make it difficult for AT&T and other telecom giants to grow their footprint and deploy the new technologies, such as 5G wireless. Speaking with Recode later Thursday, Marcelo Claure, the chief executive of Sprint, said that he and others in his industry had emphasized to Trump that the government must help them deploy new tools like small cells -- essentially, mini cell towers that improve wireless connectivity. Trump, for his part, promised Thursday to cut down on "too many years of excessive government regulation" to enable innovators and investments to offer new cutting-edge tools in health care, science, medicine and communication. "We have had regulation that's been so bad, so out of line that it's really hurt our country," he said.
Google

Alphabet Says Uber Knew About Stolen Self-Driving Car Files (cnet.com) 25

In a Wednesday filing with a California court, Alphabet said a former self-driving executive Anthony Levandowski hatched a plan with Uber to steal more than 14,000 proprietary documents, including designs for the sensors that help the car see its surroundings. CNET reports: Alphabet says Uber's former CEO, Travis Kalanick, knew about the files but told Levandowski to destroy them. Uber has argued that it did not encourage or condone Levandowski taking any files from Waymo or bringing them to Uber, and has noted that his employment agreement affirmed he wouldn't do that. The litigation between Alphabet and Uber has been reported as a primary reason Kalanick was forced to resign as Uber's CEO Tuesday.
Network

Lawsuit Accuses Comcast of Cutting Competitor's Wires To Put It Out of Business (arstechnica.com) 140

An anonymous reader quotes a report from Ars Technica: A tiny Internet service provider has sued Comcast, alleging that the cable giant and its hired contractors cut the smaller company's wires in order to take over its customer base. Telecom Cable LLC had "229 satisfied customers" in Weston Lakes and Corrigan, Texas when Comcast and its contractors sabotaged its network, the lawsuit filed last week in Harris County District Court said. Comcast had tried to buy Telecom Cable's Weston Lakes operations in 2013 "but refused to pay what they were worth," the complaint says. Starting in June 2015, Comcast and two contractors it hired "systematically destroyed Telecom's business by cutting its lines and running off its customers," the lawsuit says. Comcast destroyed or damaged the lines serving all Telecom Cable customers in Weston Lakes and never repaired them, the lawsuit claims. Telecom Cable owner Anthony Luna estimated the value of his business at about $1.8 million, which he is seeking to recover. He is also seeking other damages from Comcast and its contractors, including exemplary damages that under state statute could "amount to a maximum of twice the amount of economic damages, plus up to $750,000 of non-economic damages," the complaint says. CourtHouse News Service has a story about the lawsuit, and it posted a copy of the complaint.
Businesses

Tesla Is Talking To the Music Labels About Creating Its Own Streaming Service (recode.net) 65

An anonymous reader shares a Recode report: Music industry sources say the carmaker has had talks with all of the major labels about licensing a proprietary music service that would come bundled with its cars, which already come equipped with a high-tech dashboard and internet connectivity. Label sources aren't clear about the full scope of Tesla's ambitions, but believe it is interested in offering multiple tiers of service, starting with a Pandora-like web radio offering. The bigger question: Why doesn't Tesla simply integrate existing services, like Spotify or Apple Music, into all of its cars from the start -- especially since Tesla already does a deal with Spotify for Teslas sold outside the U.S.? "We believe it's important to have an exceptional in-car experience so our customers can listen to the music they want from whatever source they choose," a Tesla spokesperson said. "Our goal is to simply achieve maximum happiness for our customers."
Facebook

Facebook Has a New Mission: Bring the World Closer Together (cnn.com) 106

Facebook CEO believes the company's primary purpose is a social one -- the same it has had for year -- but he's ready to update this mission for the first time. From a report: "We used to have a sense that if we could just do those things, then that would make a lot of the things in the world better by themselves," Zuckerberg told CNN Tech. "But now we realize that we need to do more too. It's important to give people a voice, to get a diversity of opinions out there, but on top of that, you also need to do this work of building common ground so that way we can all move forward together." The company even has a new mission statement: "To give people the power to build community and bring the world closer together." This marks the first time the company has overhauled its mission, which had previously been "to give people the power to share and make the world more open and connected." Zuckerberg believes he has just the tool for the job: Facebook Groups, which are now used by a billion people. "A lot of what we can do is to help create a more civil and productive debate on some of the bigger issues as well," Zuckerberg told CNN Tech.
Businesses

Fallen Tech Star Imagination Technologies Up For Sale After Apple Row Bites (standard.co.uk) 28

UK chip designer Imagination Technologies -- which is in dispute with Apple, its largest customer -- has put itself up for sale. Shares in the company more than halved in April when Imagination said that Apple was to stop using its technology. From a report: The firm was regarded as a leading light in Britain's burgeoning tech sector, but ran into trouble when the phones giant, by far its biggest customer, said it would no longer rely on it for graphics design. Apple accounts for more than half of Imagination's revenues and last year held takeover talks with Imagination. Two parts of the business, MIPS and Ensigma, were already up for sale. Imagination said it has received "interest from a number of parties for a potential acquisition of the whole group." It is in "preliminary discussions" with the aid of bankers from Rothschild.
The Courts

'Coal King' Is Suing John Oliver, Time Warner, and HBO (washingtonpost.com) 361

Reader Daetrin writes: Robert E. Murray, CEO of one of the largest coal mining companies in the US, is suing John Oliver, HBO, and Time Warner for defamation (alternative source) over a comedic report on the status of the coal industry in John Oliver's "Last Week Tonight". The report began with the decline of the coal mining industry, Trump's promises to revive it, and the plight of the workers involved, but was also highly critical of the business practices and safety record of Murray Energy Corporation and Robert Murray's leadership of the company. When the company was contacted about the piece before airing they responded with a cease and desist letter and threatened to sue. John Oliver continued with the segment anyway, saying "I didn't really plan for so much of this piece to be about you, but you kinda forced my hand on that one."
Intel

AMD Looks To 'Crush' Intel's Xeon With New Epyc Server Chips (extremetech.com) 132

AMD has unveiled the first generation of Epyc, its new range of server processors built around its Zen architecture. Processors will range from the Epyc 7251 -- an eight-core, 16-thread chip running at 2.1 to 2.9GHz in a 120W power envelope -- up to the Epyc 7601: a 32-core, 64-thread monster running at 2.2 to 3.2GHz, with a 180W design power. From a report: These chips are built on the same fundamental architecture as the company's Ryzen CPU cores, and they're aimed at the incredibly powerful data center market. AMD's 32-core / 64-thread Epyc CPUs combine four eight-core dies, each connected to the other via the company's Infinity Fabric. According to AMD, this approach is significantly cheaper than trying to pack 32 cores into a single monolithic die -- that approach would leave the company potentially throwing away huge amounts of silicon during its production ramp. The Infinity Fabric is deliberately over-provisioned to minimize any problems with non-NUMA aware software, according to Anandtech. Each 32-core Epyc CPU will support eight memory channels and two DIMMs per channel, for a total maximum memory capacity of 2TB per socket, or 4TB of RAM in a two-socket system. Each CPU will also offer 128 lanes of PCI Express 3.0 support -- enough to connect up to six GPUs at x16 each with room left over for I/O support. That's in a one-socket system, mind you. In a two-socket system, the total number of available PCI Express 3.0 lanes is unchanged, at 128 (64 PCIe 3.0 lanes are used to handle CPU -- CPU communication). Anandtech has a longer writeup with more details on the CPUs power efficiency and TDP scaling. Further reading: ZDNet, press release.

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