Businesses

Dropbox Files To Go Public 13

Ten years after its launch, Dropbox has filed to go public. The cloud storage company has been around since 2007 and has raised more than $600 million in funding. TechCrunch reports: We knew that it had already filed confidentially, but the company has now unveiled its filing, meaning the actual IPO is likely very soon, probably late March. The company says it will be targeting a $500 million fundraise, but this number is usually just a placeholder. The filing shows that Dropbox had $1.1 billion in revenue last year. This compares to $845 million in revenue the year before and $604 million for 2015. The company is not yet profitable, having lost nearly $112 million last year. This shows significantly improved margins when compared to losses of $210 million for 2016 and $326 million for 2015. Dropbox has been cash flow positive since 2016.
Power

Tesla Will Supply Free Charging Stations To Office Parking Lots 15

Tesla has unveiled a new "workplace charging" program today, which offers businesses free Tesla wall connectors and will also cover installation, provided they meet certain qualifications set forth by the California carmaker. "Tesla won't cover the cost of operating the charging stations, and the company says there could be other permitting, construction, zoning, or labor costs," reports The Verge. From the report: The workplace charging stations will be compatible with all Tesla cars, but not with other EVs, and they won't show up on publicly available Tesla charging maps. The wall chargers are 240 volts, or "Level 2," which is capable of topping off a battery pack in a handful of hours, though the company says the charge rate will vary by location depending on the infrastructure available.
Bug

'Critical' T-Mobile Bug Allowed Hackers To Hijack Users' Accounts (vice.com) 14

An anonymous reader quotes a report from Motherboard: The vulnerability was found and reported by a security researcher on December 19 of last year, but it hasn't been revealed until now. Within a day, T-Mobile classified it as "critical," patched the bug, and gave the researcher a $5,000 reward. That's good news, but it's unclear how long the site was vulnerable and whether any malicious hackers found and exploited the bug before it was fixed. The newly disclosed bug allowed hackers to log into T-Mobile's account website as any customer. "It's literally like logging into your account and then stepping away from the keyboard and letting the attacker sit down," Scott Helme, a security researcher who reviewed the bug report, told Motherboard in an online chat. Shortly after we published this story, a T-Mobile spokesperson sent us a statement: "This bug was confidentially reported through our Bug Bounty program in December and fixed within a matter of hours," the emailed statement read. "We found no evidence of customer information being compromised."
The Courts

Manafort Left an Incriminating Paper Trail Because He Couldn't Figure Out How to Convert PDFs to Word Files (slate.com) 133

There are two types of people in this world: those who know how to convert PDFs into Word documents and those who are indicted for money laundering. Former Trump campaign chairman Paul Manafort is the second kind of person , Slate reports. From the report: Back in October, a grand jury indictment charged Manafort and his business associate Rick Gates with a variety of crimes, including conspiring "to defraud the United States." On Thursday, special counsel Robert Mueller filed a new indictment against the pair, substantially expanding the charges. As one former federal prosecutor told the Washington Post, Manafort and Gates' methods appear to have been "extensive and bold and greedy with a capital 'G,' but ... not all that sophisticated." One new detail from the indictment, however, points to just how unsophisticated Manafort seems to have been. Here's the relevant passage from the indictment. I've bolded the most important bits:

Manafort and Gates made numerous false and fraudulent representations to secure the loans. For example, Manafort provided the bank with doctored [profit and loss statements] for [Davis Manafort Inc.] for both 2015 and 2016, overstating its income by millions of dollars. The doctored 2015 DMI P&L submitted to Lender D was the same false statement previously submitted to Lender C, which overstated DMI's income by more than $4 million. The doctored 2016 DMI P&L was inflated by Manafort by more than $3.5 million. To create the false 2016 P&L, on or about October 21, 2016, Manafort emailed Gates a .pdf version of the real 2016 DMI P&L, which showed a loss of more than $600,000. Gates converted that .pdf into a "Word" document so that it could be edited, which Gates sent back to Manafort. Manafort altered that "Word" document by adding more than $3.5 million in income. He then sent this falsified P&L to Gates and asked that the "Word" document be converted back to a .pdf, which Gates did and returned to Manafort. Manafort then sent the falsified 2016 DMI P&L .pdf to Lender D.
So here's the essence of what went wrong for Manafort and Gates, according to Mueller's investigation: Manafort allegedly wanted to falsify his company's income, but he couldn't figure out how to edit the PDF.
United States

From 1999 To 2016, America Lost 11.4 Million People From the Workforce (washingtonpost.com) 126

Andrew Van Dam, writing for the Washington Post: Where did all the jobs go? Well, we're finally starting to find some satisfactory answers to the granddaddy of all economic questions. The share of Americans with jobs dropped 4.5 percentage points from 1999 to 2016 -- amounting to about 11.4 million fewer workers in 2016. At least half of that decline probably was due to an aging population. Explaining the remainder has been the inspiration for much of the economic research published after the Great Recession.
Transportation

Airlines Won't Dare Use the Fastest Way to Board Planes (wired.com) 224

An anonymous reader writes: You've arrived at the airport early. You have already selected the perfect seat. You've employed all possible tricks for making the check-in and security processes zoom by. But there's still some blood-pressure-raising chaos you can't avoid: boarding. From impatient fellow travelers who are determined to beat you onto the plane to passengers who insist on jamming their too-big carry-ons into overhead bins, making your way to your seat can be straight-up hellish -- and Wired's Alex Davies offers up a cheery explanation of why the situation is unlikely to improve any time soon. It's not that airlines aren't trying. In fact, United is in the middle of a months-long test at LAX that involves splitting its five groups of passengers into two lines, instead of five, to see whether that will make boarding less painful. But there are some basic measures that airlines could be taking to speed things up -- offering free baggage check, for instance, or cutting down on early boarding perks -- if they weren't so worried about their bottom lines. "The question for the airlines, then, is not how to get everyone onto a plane as quickly as possible," Davies writes. "It's how to get everyone onto a plane as quickly as possible while still charging them extra for bags, doting on the regular customers, and maintaining the system that, like all class structures, serves whoever built it."
Government

Supreme Court Declines To Broaden Whistleblower Protections (reuters.com) 60

The U.S. Supreme Court this week refused to broaden protections for corporate insiders who call out misconduct, ruling they must take claims of wrongdoing to the Securities and Exchange Commission in order to be shielded against retaliation. From a report: The justices ruled 9-0 in favor of Digital Realty Trust, throwing out a lawsuit brought against the California-based real estate trust by a fired former employee who had reported alleged wrongdoing only internally and not to the SEC. The 2010 Wall Street reform law known as the Dodd-Frank Act is unambiguous in offering no protection from retaliation such as firing or demotion to employees who report claims of securities law violations only in-house, the court ruled.
Robotics

'Automating Jobs Is How Society Makes Progress' (qz.com) 217

An anonymous reader quotes a report from Quartz, written by Per Bylund, assistant professor at Oklahoma State University: Analysts discuss the automation of jobs as if robots are rising from the sea like Godzilla, rampaging through the Tokyo of stable employment, and leaving only chaos in their wake. According to data from PWC, 38% of jobs in the U.S. could become automated by the early 2030s. Meanwhile, a report from Ball State University's Center for Business and Economic Research warned that half of all American jobs could be replaced by automation. These prophecies of doom fail to recognize that automation and increased productivity are nothing new. From the cotton gin to the computer, automation has been happening for centuries. Consider the way automation has improved the mining industry over the past 100 years. Without machines, humans were forced to crawl into unstable passageways and chip away at rocks with primitive tools while avoiding the ever-present dangers of gas poisoning and cave-ins. Not only was this approach terrible for health, but it was also a highly inefficient use of skilled human laborers. With machines doing the heavy lifting, society was able to dedicate resources to building, servicing, and running the machinery.

Fewer people now do the traditional physical labor, but this advancement is celebrated rather than mourned. By letting machines handle the more tedious -- and, in some cases, dangerous -- tasks, people were liberated to use their labor in more efficient, effective, and fulfilling ways. Critics of automation miss the point. Nobody works for the sake of work -- people strive to create value, which helps pay our salaries and feed our families. Automation effectively opens the door for more new endeavors that will elevate our species to greater heights. Just as past generations turned away the mines for better careers, modern workers whose jobs are altered by automation will see their roles in society evolve rather than disappear.

AI

Elon Musk Steps Down From AI Safety Group To Avoid Conflict of Interest With Tesla 32

New submitter the gmr writes: According to an announcement on the OpenAI blog, Elon Musk has stepped down from the board of directors of the nonprofit AI safety group, which he co-founded in 2015, due potential conflict of interest with his company Tesla. As explained in a post on Futurism, the move away from OpenAI may indicate that Tesla may be moving forward with more AI projects than most people may realize. Musk's departure may mean that Tesla is closer to delivering vehicles capable of Level 5 autonomy, "fully self-driving" vehicles that more than 35,000 Tesla customers paid for even though the technology does not yet exist. "Elon Musk will depart the OpenAI Board but will continue to donate and advise the organization," the announcement reads. "As Tesla continues to become more focused on AI, this will eliminate a potential future conflict for Elon." The OpenAI board of directors now consists of Greg Brockman, Ilya Sutskever, Holden Karnofsky, and Sam Altman, with whom Musk co-founded the venture. The company reportedly plans to not only fill Musk's seat but expand their team as well.

"Open AI has also been a prominent voice in the conversation concerning the limitations, challenges, and potential dangers of artificial intelligence," reports Futurism. "Just this week, the company co-released a report with a number of other global AI experts that outlines the potential 'malicious' uses of the technology and how to prevent them."
Businesses

Venezuela Says Its Cryptocurrency Raised $735 Million -- But It's a Farce (arstechnica.com) 88

Earlier this week, Venezuelan President Nicolas Maduro claimed that a new state-sponsored cryptocurrency called the petro raised $735 million on the first day of its sale. ArsTechnica dives deep on the matter to suggest that it's all a farce. From the report: The government hasn't provided any way to independently verify that $735 million figure. And there's reason to doubt almost everything the Venezuelan government has said about the project. Moreover, there's little reason to believe that the petro will maintain its value over time. The Venezuelan government has portrayed petro tokens as backed by Venezuela's vast oil reserves, but they're not. The government is merely promising to accept tax payments in petros at a government-determined exchange rate linked to oil prices. Given the Venezuelan government's history of manipulating exchange rates, experts say investors should be wary of this arrangement. Moreover, the petro scheme has been opposed by opposition legislators in Venezuela's opposition-controlled legislature. They say that the Maduro government is essentially issuing oil-backed debt, and legally that can't be done without approval from the legislature. If Maduro falls from power in the future, his successor might refuse to honor petro redemptions.
Businesses

Disney Loses in Redbox Copyright Row (bbc.com) 159

Disney has lost a bid to stop movie rental company Redbox from reselling download codes for its films. From a report: Redbox bought Disney movies on DVD to offer for rental in its kiosks. The DVDs were often bundled with a code to download a copy of the film. Disney requested an injunction to stop the practice, saying that Redbox had no business arrangement with it. A California federal judge accused Disney of "copyright misuse." Redbox rents and sells movies via tens of thousands of automated kiosks that dispense DVD and Blu-ray discs.
Businesses

Uber Will 'Invest Aggressively' In India And Southeast Asia, CEO Says (buzzfeed.com) 21

Pranav Dixit, writing for BuzzFeed News: Dara Khosrowshahi, Uber's CEO of six months, said on Thursday that the ride-hailing service would continue to invest aggressively in both Southeast Asia and India, where the company is losing money and faces strong competition from local players like Grab and Ola. Uber has been slow to expand its presence in India and Southeast Asia, allowing competitors to quickly gain ground. Singapore's Grab, for instance, claimed to have 95% of the country's ride-hailing market share last year. And Ola, Uber's Indian rival, currently operates in 110 cities against Uber's 29 cities. Ola does 1 billion rides annually, compared to Uber, which announced in mid-2017 that it completed 500 million total rides in the country in its first four years of operations. "We expect to lose money in Southeast Asia and expect to invest aggressively in terms of marketing, subsidies, etc.," Khosrowshahi told reporters in India, which is Uber's fastest-growing market outside the United States, and where he is currently on his first official tour. While Uber's India operation is not yet profitable, it does account for 10% of Uber's rides globally.
Businesses

Amazon May Open Up To Six More Automated Stores This Year (engadget.com) 82

Amazon may have opened its automated convenience store a year late, but it looks like it's been a pretty big success. From a report: Recode learned that the company plans on opening six more of its Amazon Go stores in 2018. It's not clear where these stores will be located, though Recode reports that more locations are likely in Seattle, and Amazon is in talks with the developer of The Grove in Los Angeles. Amazon Go is billed as the convenience store of the future. There are no checkout lines; you can simply walk in, grab what you want, and leave. You scan in with a smartphone app, and then an AI tracks what you take from the shelves and automatically charges you for them.
Businesses

Uber Launches 'Express Pool' To Get More Riders To Share Rides (recode.net) 63

An anonymous reader quotes a report from Recode: Uber is beginning to roll out a cheaper version of its ride-sharing UberPool service, called Express Pool. The service, which was being tested in Boston and San Francisco, is now available in Los Angeles, San Diego and Denver, and will launch in Miami, Philadelphia and Washington, D.C., tomorrow. The idea is that Express Pool, which requires riders to walk a little to meet their driver -- and then again to their destination after being dropped off -- will make shared rides more efficient. If it works, it should both increase the number of rides that drivers can give and also make those shared trips faster for passengers. The new service tests a thesis Uber has long had: Lower prices means higher utilization, and higher utilization means more money -- both for drivers and for Uber. Also that road congestion is bad and the solution is to share more rides. Those are the same theories that sparked the creation of the original UberPool service, which requires a little less walking. But the hope is that this will make it easier to match more passengers and therefore lose less money on each shared ride.
ISS

Bigelow Launching New Company To Sell Private Space Stations (popularmechanics.com) 57

hyperclocker shares a report from Popular Mechanics: The future of spacecraft in lower Earth orbit (LEO) looks to be an increasingly commercial affair. Bigelow Aerospace, a Las Vegas-based company that builds livable space habitats, has now created a spinoff company known as Bigelow Space Operations (BSO). BSO will market and operate any space habitats that Bigelow sells. The creation of BSO signals that Bigelow is preparing for a future of commercial space living. Recently leaked NASA documents show that the Trump Administration wants to convert the International Space Station into a commercial venture, and BSO is betting that businesses including private scientific ventures and hotels will be interested in creating a profit above the Earth. A prototype Bigelow habitat, the Bigelow Expandable Activity Module (BEAM), has been connected to the ISS since 2016. It's proven such a successful addition that last year NASA extended its contract for an additional three years. But Bigelow is thinking past the BEAM. In its press release announcing BSO, it highlights its planned launches of the B330-1 and B330-2, spacecraft with 6-person capacity, in 2021.
Network

Game Industry Pushes Back Against Efforts To Restore Gameplay Servers (arstechnica.com) 225

Kyle Orland reports via Ars Technica: A group of video game preservationists wants the legal right to replicate "abandoned" servers in order to re-enable defunct online multiplayer gameplay for study. The game industry says those efforts would hurt their business, allow the theft of their copyrighted content, and essentially let researchers "blur the line between preservation and play." Both sides are arguing their case to the U.S. Copyright Office right now, submitting lengthy comments on the subject as part of the Copyright Register's triennial review of exemptions to the Digital Millennium Copyright Act (DMCA). Analyzing the arguments on both sides shows how passionate both industry and academia are about the issue, and how mistrust and misunderstanding seem to have infected the debate.
Businesses

Apple In Talks To Buy Cobalt Directly From Miners (bloomberg.com) 58

An anonymous reader quotes a report from Bloomberg: Apple Inc. is in talks to buy long-term supplies of cobalt directly from miners for the first time, according to people familiar with the matter, seeking to ensure it will have enough of the key battery ingredient amid industry fears of a shortage driven by the electric vehicle boom. The iPhone maker is one of the world's largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries. The talks show that the tech giant is keen to ensure that cobalt supplies for its iPhone and iPad batteries are sufficient, with the rapid growth in battery demand for electric vehicles threatening to create a shortage of the raw material. About a quarter of global cobalt production is used in smartphones. Apple is seeking contracts to secure several thousand metric tons of cobalt a year for five years or longer. Its first discussions on cobalt deals with miners were more than a year ago, and it may end up deciding not to go ahead with any deal, another person said.
Transportation

New Lawsuit Accuses Tesla of Knowingly Selling Defective Vehicles (theverge.com) 62

A new lawsuit from a former Tesla employee claims the company knowingly sold defective cars, and that the employee was demoted and eventually fired after reporting the practice to his superiors. The lawsuit was filed in late January in New Jersey Superior Court under the Conscientious Employee Protection Act (CEPA). The Verge reports: The former employee, Adam Williams, worked for Tesla as a regional manager in New Jersey dating back to late 2011. While there, he says he watched the company fail "to disclose to consumers high-dollar, pre-delivery damage repairs" before delivering its vehicles, according to the complaint. Instead, he says the company sold these cars as "used," or labeled as "demo/loaner" vehicles. "There's no merit to this lawsuit. Mr. Williams' description of how Tesla sells used or loaner vehicles is totally false and not how we do things at Tesla," a representative for the company said in response to the lawsuit. "It's also at odds with the fact that we rank highest in customer satisfaction of any car brand, with more owners saying they'd buy a Tesla again than any other manufacturer. Mr. Williams was terminated at Tesla for performance reasons, not for any other reason." The lawyer for the plaintiff could not be reached in time for publish.

Williams says in the court filing that he reported this behavior in late 2016 and early 2017 to his supervisor, as well as Lenny Peake, Tesla's East Coast Regional Manager, and Jerome Guillen, a company vice president. Shortly after that, he claims, he was demoted to service manager of the Springfield, New Jersey Tesla store. He then says he was demoted again later in the year to a "mobile manager" position and was ultimately fired in September 2017. In the lawsuit, Williams argues that he was terminated for reporting the alleged lawbreaking practices, and he should therefore be covered by CEPA's whistleblower protection.

Government

Instead of Slowing Down Innovation To Protect Few People, Policymakers Should Focus On Helping Displaced Workers Transition Into New Jobs, ITIF Suggests (itif.org) 160

A recently published report by Information Technology & Innovation Foundation (ITIF) argues that rather than slow down change to protect a small number of workers at the expense of the vast majority, policymakers should focus on doing significantly more to help workers transition easily into new jobs and new occupations [PDF]. From a report: There has been growing speculation that a coming wave of innovation -- indeed, a tsunami -- powered by artificial intelligence (AI) and robotics, will disrupt labor markets, generate mass unemployment, and shift the few jobs that remain into the insecure "gig economy." Kneejerk "solutions" from such technology Cassandras include ideas like taxing "robots" and implementing universal basic income for everyone, employed or not. The first would slow needed productivity growth, employed or not; the second would reduce worker opportunity.

The truth is these technologies will provide a desperately needed boost to productivity and wages, but that does not mean no one will be hurt. There are always winners and losers in major economic transitions. But rather than slow down change to protect a modest number of workers at the expense of the vast majority, policymakers should focus on doing significantly more to help those who are dislocated transition easily into new jobs and new occupations. Improving policies to help workers navigate what is likely to be a more turbulent labor market is not something that should be done just out of fairness, although it is certainly fair to help workers who are either hurt by change or at risk of being hurt. But absent better labor market transition policies, there is a real risk that public and elite sentiment will turn staunchly against technological change, seeing it as fundamentally destructive and unfair.

Bitcoin

Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies (businessinsider.com) 75

Poland's central bank has been accused of hiring YouTubers to "start a smear campaign" against cryptocurrencies in the country, Business Insider reports. From the story: According to Business Insider Poland, the Narodowy Bank Polski spent around 91,000 zloty ($27,300) on a marketing campaign designed to attack the legitimacy of cryptocurrencies. The money was spent on platforms including Google and Facebook, but was also used to pay a Polish Youtube partner network called Gamellon. The Gamellon network reportedly represents many of Poland's top YouTubers, including popular prankster Marcin Dubiel. In December, Dubiel published a video titled "STRACILEM WSZYSTKIE PIENIADZE?!" -- which loosely translates as "I LOST ALL MY MONEY?!" In the satirical video, Dubiel invests all his money in a fake cryptocurrency called Dubielcoin, gets rich, but then sees its value plunge and loses everything. It has racked up over 500,000 views.

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