According to Bloomberg, Amazon's livestreaming site Twitch is expected to cut 35% of its staff, or about 500 workers. "The cuts, which could be announced as soon as Wednesday, come amid concerns over losses at Twitch and after several top executives left the company in the span of a few months," notes Bloomberg. Slashdot reader quonset shares the report: Running a large-scale website supporting 1.8 billion hours of live video content a month is enormously expensive, despite Twitch's reliance on Amazon's infrastructure, company executives have said. In December, Twitch Chief Executive Officer Dan Clancy said the company would cease operations in South Korea, where the costs are "prohibitively expensive," according to a blog post he wrote. Twitch has increased its focus on advertising in recent years. Nine years after Amazon's acquisition of the company, the business remains unprofitable, according to the people, who asked not to be identified discussing private information.

In the final months of 2023, several top executives announced their departures, including Twitch's chief product officer, chief customer officer and chief content officer. Twitch also lost its chief revenue officer, who worked on Twitch from within Amazon's Ads unit. "It's always bittersweet when talented leaders move on to pursue new opportunities,'" a Twitch spokesperson said at the time. "We are incredibly grateful for their contributions to Twitch and our community, and wish them all the best."

"Since the 1960s engineers around the world have been fiddling with a novel type of jet called a rotating detonation engine (RDE), but it has never got beyond the experimental stage," reports the Economist.

"That could be about to change." GE Aerospace, one of the world's biggest producers of jet engines, recently announced it was developing a working version. Earlier this year America's Defence Advanced Research Projects Agency awarded a $29m contract to Raytheon, part of RTX, another big aerospace group, to develop an RDE called Gambit.

Both engines would be used to propel missiles, overcoming the range and speed limitations of current propulsion systems, including rockets and existing types of jet engines. However, if the companies are successful in getting them to work, RDEs might have a much broader role in aviation — including the possibility of helping revive supersonic air travel.

In a nutshell, an RDE "replaces fire with a controlled explosion", explains Kareem Ahmed, an expert in advanced aerospace engines at the University of Central Florida. In technical terms, this is because a jet engine relies on the combustion of oxygen and fuel, which is a subsonic reaction that scientists call deflagration. Detonation, by comparison, is a high-energy explosion that takes place at supersonic speeds. As a result it is a more powerful and potentially a more efficient way of producing thrust, the force that drives an aircraft forward...

By modifying an aircraft's fuselage and wings, engineers believe they can reduce the boom's impact on the ground below. Such work will help to determine whether or not future supersonic passenger planes will, like Concorde, be restricted to flying beyond the speed of sound only over oceans.
Thanks to long-time Slashdot reader SpzToid for sharing the article.

LG just announced its latest 4K projector, the CineBeam Qube. It'll officially unveil the projector at CES 2024 in early January, but the company's giving curious consumers an early look. From a report: The CineBeam Qube has plenty of high-tech bells and whistles, but with a stylish design that LG calls "minimalist." There's also a handle that resembles a crank. Yeah this thing has an actual handle. The CineBeam Qube is built for portability. It's lightweight, at around three pounds, and the square form factor makes it easy to place just about anywhere. The 360-degree rotatable handle also helps with placement. LG's calling it "one of the smallest projectors available."

Of course, the most important part of any projector is, well, the projection. The Qube projects 4K UHD (3,840 x 2,160) resolution images that measure up to 120 inches. There's an RGB laser light source, a 450,000:1 contrast ratio and 154 percent coverage of the DCI-P3 color gamut. With these specs, that episode of Reacher will really pop. Speaking of streaming content, the projector runs on LG webOS 6.0 and offers access to all of the big streaming services, including Prime Video, Disney+, Netflix and YouTube.

A bipartisan group of lawmakers has written to U.S. President Joe Biden, warning European technology regulation are unfairly targeting U.S. companies and not including many Chinese or EU firms, according to a letter seen by Reuters on Monday. From the report: Under the European Union's Digital Markets Act (DMA), five major U.S. tech companies -- Alphabet, Amazon, Apple, Meta and Microsoft -- were designated "gatekeeper" service providers. From March 2024, these companies -- as well as TikTok's Chinese owner ByteDance -- will be required to make their messaging apps work with rivals and let users choose which ones they want pre-installed on their devices.

In a letter seen by Reuters, 21 members of the U.S. House of Representatives warned the new rules could damage American economic and security interests and called on Biden to secure commitments from the EU the rules will be enforced fairly. "Securing our leadership in this sector is imperative for our economy and American workers," the letter said. "The designation of leading U.S. companies as 'gatekeepers' threatens to upend the U.S. economy, diminish our global leadership in the digital sphere, and jeopardize the security of consumers."

The letter questioned why Chinese companies Alibaba, Huawei, and Tencent had avoided designation and why European companies had avoided any scrutiny. "The EU inexplicably failed to designate any European retailers, content-sharing platforms, payment firms, and telcos," it said. Signatories of the letter -- including Representative Lou Correa, a Democrat, and Thomas Massie, a Republican, -- called on Biden to seek assurances from EU lawmakers the DMA will not be unfairly used to target U.S. companies.

In 1999 Los Angeles Times reporter Michael Hiltzik co-authored a Pulitzer Prize-winning story. Now a business columnist for the Times, he writes that a Southern California maker of pornographic films named Strike 3 Holdings is also "a copyright troll," according to U.S. Judge Royce C. Lamberth: Lamberth cwrote in 2018, "Armed with hundreds of cut-and-pasted complaints and boilerplate discovery motions, Strike 3 floods this courthouse (and others around the country) with lawsuits smacking of extortion. It treats this Court not as a citadel of justice, but as an ATM." He likened its litigation strategy to a "high-tech shakedown." Lamberth was not speaking off the cuff. Since September 2017, Strike 3 has filed more than 12,440 lawsuits in federal courts alleging that defendants infringed its copyrights by downloading its movies via BitTorrent, an online service on which unauthorized content can be accessed by almost anyone with a computer and internet connection.

That includes 3,311 cases the firm filed this year, more than 550 in federal courts in California. On some days, scores of filings reach federal courthouses — on Nov. 17, to select a date at random, the firm filed 60 lawsuits nationwide... Typically, they are settled for what lawyers say are cash payments in the four or five figures or are dismissed outright...

It's impossible to pinpoint the profits that can be made from this courthouse strategy. J. Curtis Edmondson, a Portland, Oregon, lawyer who is among the few who pushed back against a Strike 3 case and won, estimates that Strike 3 "pulls in about $15 million to $20 million a year from its lawsuits." That would make the cases "way more profitable than selling their product...." If only one-third of its more than 12,000 lawsuits produced settlements averaging as little as $5,000 each, the yield would come to $20 million... The volume of Strike 3 cases has increased every year — from 1,932 in 2021 to 2,879 last year and 3,311 this year.

What's really needed is a change in copyright law to bring the statutory damages down to a level that truly reflects the value of a film lost because of unauthorized downloading — not $750 or $150,000 but perhaps a few hundred dollars.
Anone of the lawsuits go to trial. Instead ISPs get a subpoena demanding the real-world address and name behind IP addresses "ostensibly used to download content from BitTorrent..." according to the article. Strike 3 will then "proceed by sending a letter implicitly threatening the subscriber with public exposure as a pornography viewer and explicitly with the statutory penalties for infringement written into federal copyright law — up to $150,000 for each example of willful infringement and from $750 to $30,0000 otherwise."

A federal judge in Connecticut wrote last year that "Given the nature of the films at issue, defendants may feel coerced to settle these suits merely to prevent public disclosure of their identifying information, even if they believe they have been misidentified."

Thanks to Slashdot reader Beerismydad for sharing the article.

An anonymous reader quotes this report from Bloomberg: The U.S. doubts whether Huawei Technologies Co. can produce the advanced chip in its new smartphone at the scale or performance threshold necessary to meet market demand, a senior Commerce Department official told lawmakers Tuesday. "Neither the performance nor yields may match the market of the device," Thea Kendler, assistant secretary for export administration, said during testimony before a House Foreign Affairs Committee oversight panel.

"Moreover, the semiconductor chip that is inside that phone is a poorer performance than what they had years ago," Kendler said. "So our export controls are meaningful in slowing China's advanced technology acquisition...."

The [U.S. Commerce Department's Bureau of Industry and Security] is under pressure from Republicans to be tougher on Huawei and its chipmaking partner Semiconductor Manufacturing International Corp [or SMIC]. Foreign Affairs Committee Chairman Michael McCaul and others have called for the Bureau of Industry and Security to fully cut off both firms from their American suppliers. U.S. Commerce Secretary Gina Raimondo told Bloomberg News in a Monday interview that the U.S. will take the "strongest possible" action to protect its national security following the breakthrough, while declining to confirm the existence of an investigation into Huawei or SMIC.

Earlier this week Google Maps stopped storing user location histories in the cloud. But why did Google make this move? Bloomberg reports that it was "so that the company no longer has access to users' individual location histories, cutting off its ability to respond to law enforcement warrants that ask for data on everyone who was in the vicinity of a crime." The company said Thursday that for users who have it enabled, location data will soon be saved directly on users' devices, blocking Google from being able to see it, and, by extension, blocking law enforcement from being able to demand that information from Google. "Your location information is personal," said Marlo McGriff, director of product for Google Maps, in the blog post. "We're committed to keeping it safe, private and in your control."

The change comes three months after a Bloomberg Businessweek investigation that found police across the US were increasingly using warrants to obtain location and search data from Google, even for nonviolent cases, and even for people who had nothing to do with the crime. "It's well past time," said Jennifer Lynch, the general counsel at the Electronic Frontier Foundation, a San Francisco-based nonprofit that defends digital civil liberties. "We've been calling on Google to make these changes for years, and I think it's fantastic for Google users, because it means that they can take advantage of features like location history without having to fear that the police will get access to all of that data."

Google said it would roll out the changes gradually through the next year on its own Android and Apple Inc.'s iOS mobile operating systems, and that users will receive a notification when the update comes to their account. The company won't be able to respond to new geofence warrants once the update is complete, including for people who choose to save encrypted backups of their location data to the cloud.
The EFF general counsel also pointed out to Bloomberg that "nobody else has been storing and collecting data in the same way as Google." (Apple, for example, is technically unable to provide the same data to police.)

The New York Times reports: Office landlords, hit hard by the work-from-home revolution, are resorting to a desperate measure in the real estate world: "handing back the keys." When this happens, the landlord stops paying the mortgage on the office building or declines to refinance it. The bank or investors who made the loan then repossess the building...

Since the pandemic began, office employees showed they could get their jobs done from home, and many have been reluctant to come back. And companies realized they could save a lot of money by renting less office space, making many office towers unprofitable for their owners and turning many business districts into ghost towns. About 23% of office space in the United States was vacant or available for sublet at the end of November, according to Avison Young, a real estate services firm, compared with 16% before the pandemic.
Defaulters include "some of the biggest names in commercial real estate, like Brookfield and Blackstone," according to the article, which argues that the phenomenon "reveals both the depth of the problems in the office market and the ability of big property companies to push much of the financial pain onto others — in this case, banks and other lenders."

By defaulting on their loans, the landlords avoid making any more payments (or incurring any more interest) — while saddling the banks with their depreciating building. "Big property companies can keep doing business after they default and are even considered savvy for jettisoning distressed buildings."

All those original shows on streaming services brought us "peak TV." But the New York Times reports on the flipside: back in the cable universe, they're experiencing "zombie TV": In 2015, the USA cable network was a force in original programming. Dramas like "Suits," "Mr. Robot" and "Royal Pains" either won awards or attracted big audiences. What a difference a few years make. Viewership is way down, and USA's original programming department is gone. The channel has had just one original scripted show this year, and it is not exclusive to the network — it also airs on another channel. During one 46-hour stretch last week, USA showed repeats of NBC's "Law & Order: Special Victims Unit" for all but two hours, when it showed reruns of CBS' "NCIS" and "NCIS: Los Angeles."

Instead of standing out among its peers, USA is emblematic of cable television's transformation. Many of the most popular channels — TBS, Comedy Central, MTV — have quickly morphed into zombie versions of their former selves. Networks that were once rich with original scripted programming are now vessels for endless marathons of reruns, along with occasional reality shows and live sports... Advertisers have begun to pull money from cable at high rates, analysts say, and leaders at cable providers have started to question what their consumers are paying for. In a dispute with Disney this year, executives who oversee the Spectrum cable service said media companies were letting their cable "programming house burn to the ground...."

The media companies that own the channels are in a bind. The so-called cable bundle was enormously profitable for media companies, and more than 100 million households subscribed at the peak. But subscribers are rapidly declining as people migrate toward streaming. Now roughly 70 million households subscribe to cable. As a result, most media companies are pulling resources from their individual cable networks and directing investment toward their streaming services. Peacock, which is owned by NBCUniversal, also the parent of USA, has begun making more and more original scripted shows over the last three years.

However, most streaming services are hemorrhaging cash. (An NBCUniversal executive said this week that Peacock would lose $2.8 billion this year.) Cable, although it is getting smaller, remains profitable.
Media analyst Michael Nathanson believes last year was saw a "tipping point" when cable advertising decreased — by double-digit percentages — in five consecutive fiscal quarters. "Advertisers are starting to realize that there's really nothing on here and they shouldn't pay for it."

One consultant who works with entertainment companies and used to run marketing at the Oxygen cable network tells the newspaper that cable channels "are being stripped for parts." The article calculates that in 2022 there were 39% fewer scripted programs on basic and premium cable than there were in 2015.

"Reruns are filling the hole."

Meta, OpenAI, and Microsoft said at an AMD investor event today that they will use AMD's newest AI chip, the Instinct MI300X, as an alternative to Nvidia's expensive graphic processors. "If AMD's latest high-end chip is good enough for the technology companies and cloud service providers building and serving AI models when it starts shipping early next year, it could lower costs for developing AI models and put competitive pressure on Nvidia's surging AI chip sales growth," reports CNBC. From the report: "All of the interest is in big iron and big GPUs for the cloud," AMD CEO Lisa Su said Wednesday. AMD says the MI300X is based on a new architecture, which often leads to significant performance gains. Its most distinctive feature is that it has 192GB of a cutting-edge, high-performance type of memory known as HBM3, which transfers data faster and can fit larger AI models. Su directly compared the MI300X and the systems built with it to Nvidia's main AI GPU, the H100. "What this performance does is it just directly translates into a better user experience," Su said. "When you ask a model something, you'd like it to come back faster, especially as responses get more complicated."

The main question facing AMD is whether companies that have been building on Nvidia will invest the time and money to add another GPU supplier. "It takes work to adopt AMD," Su said. AMD on Wednesday told investors and partners that it had improved its software suite called ROCm to compete with Nvidia's industry standard CUDA software, addressing a key shortcoming that had been one of the primary reasons AI developers currently prefer Nvidia. Price will also be important. AMD didn't reveal pricing for the MI300X on Wednesday, but Nvidia's can cost around $40,000 for one chip, and Su told reporters that AMD's chip would have to cost less to purchase and operate than Nvidia's in order to persuade customers to buy it.

On Wednesday, AMD said it had already signed up some of the companies most hungry for GPUs to use the chip. Meta and Microsoft were the two largest purchasers of Nvidia H100 GPUs in 2023, according to a recent report from research firm Omidia. Meta said it will use MI300X GPUs for AI inference workloads such as processing AI stickers, image editing, and operating its assistant. Microsoft's CTO, Kevin Scott, said the company would offer access to MI300X chips through its Azure web service. Oracle's cloud will also use the chips. OpenAI said it would support AMD GPUs in one of its software products, called Triton, which isn't a big large language model like GPT but is used in AI research to access chip features.

Trevor Jacob, a daredevil YouTuber who deliberately crashed a plane for views in a moneymaking scheme, has been sentenced to six months in federal prison. Jacob posted a video of himself in 2021 parachuting out of a plane that he claimed had malfunctioned. In reality, the aircraft was purposely abandoned and crashed into the Los Padres National Forest in Southern California. From a report: Jacob pleaded guilty to one felony count of destruction and concealment with the intent to obstruct a federal investigation on June 30. "It appears that (Jacob) exercised exceptionally poor judgment in committing this offense," prosecutors said in the release. "(Jacob) most likely committed this offense to generate social media and news coverage for himself and to obtain financial gain. Nevertheless, this type of 'daredevil' conduct cannot be tolerated."

Jacob received a sponsorship from a company and had agreed to promote the company's wallet in the YouTube video that he would post. [...] The release said Jacob lied to federal investigators when he filed a report that falsely indicated his plane lost full power approximately 35 minutes into the flight. He also lied to a Federal Aviation Administration aviation safety inspector when he said he had parachuted out of the plane when the airplane's engine had quit because he could not identify any safe landing options.

Russia has added the spokesman of U.S. technology company Meta, which owns Facebook and Instagram, to a wanted list, according to an online database maintained by the country's interior ministry. From a report: Russian state agency Tass and independent news outlet Mediazona first reported that Meta communications director Andy Stone was included on the list Sunday, weeks after Russian authorities in October classified Meta as a "terrorist and extremist" organization, opening the way for possible criminal proceedings against Russian residents using its platforms.

The interior ministry's database doesn't give details of the case against Stone, stating only that he is wanted on criminal charges. According to Mediazona, an independent news website that covers Russia's opposition and prison system, Stone was put on the wanted list in February 2022, but authorities made no related statements at the time and no news media reported on the matter until this week. In March this year, Russia's federal Investigative Committee opened a criminal investigation into Meta.

"In an open-air warehouse in California's Central Valley, 40-foot-tall racks hold hundreds of trays filled with a white powder that turns crusty as it absorbs carbon dioxide from the sky," reports the New York Times.

"The start-up that built the facility, Heirloom Carbon Technologies, calls it the first commercial plant in the United States to use direct air capture, which involves vacuuming greenhouse gases from the atmosphere." Another plant is operating in Iceland, and some scientists say the technique could be crucial for fighting climate change. Heirloom will take the carbon dioxide it pulls from the air and have the gas sealed permanently in concrete, where it can't heat the planet. To earn revenue, the company is selling carbon removal credits to companies paying a premium to offset their own emissions. Microsoft has already signed a deal with Heirloom to remove 315,000 tons of carbon dioxide from the atmosphere.

The company's first facility in Tracy, California, which opens Thursday, is fairly small. The plant can absorb a maximum of 1,000 tons of carbon dioxide per year, equal to the exhaust from about 200 cars. But Heirloom hopes to expand quickly. "We want to get to millions of tons per year," said Shashank Samala, the company's chief executive. "That means copying and pasting this basic design over and over."

Heirloom's technology hinges on a simple bit of chemistry: Limestone, one of the most abundant rocks on the planet, forms when calcium oxide binds with carbon dioxide. In nature, that process takes years. Heirloom speeds it up. At the California plant, workers heat limestone to 1,650 degrees Fahrenheit in a kiln powered by renewable electricity. Carbon dioxide is released from the limestone and pumped into a storage tank. The leftover calcium oxide, which looks like flour, is then doused with water and spread onto large trays, which are carried by robots onto tower-high racks and exposed to open air. Over three days, the white powder absorbs carbon dioxide and turns into limestone again. Then it's back to the kiln and the cycle repeats. "That's the beauty of this, it's just rocks on trays," Mr. Samala, who co-founded Heirloom in 2020, said.

The hard part, he added, was years of tweaking variables like particle size, tray spacing and moisture to speed up absorption... In future projects, Heirloom also plans to pump carbon dioxide into underground storage wells, burying it.
The company received funding from Microsoft's Climate Innovation Fund and Bill Gates' Breakthrough Energy Ventures, according to Bloomberg, which adds that Heirloom's technology will later "be deployed at a major hub in Louisiana the government expects will remove 1 million tons of CO2 a year by the end of the decade."

The New York Times notes there was also federal funding, something that's been fueling the ambitions of hundreds of carbon-capture startups. "The science is clear," says America's Energy Secretary. "Cutting back carbon emissions through renewable energy alone won't stop the damage from climate change. Direct air capture technology is a game-changing tool that gives us a shot at removing the carbon pollution that has been building in the atmosphere since the Industrial Revolution."

After years of inflation, Americans are used to sticker shock. But nothing compares to the surging price of streaming video. From a report: Last week, Apple TV+ became the latest streaming service to raise its price -- up from $6.99 to $9.99 per month -- following the example of Disney+, Hulu, ESPN+, and Netflix, which all hiked their prices in October. Half of the major streaming platforms in the U.S. now charge a monthly fee that's double the price they charged when they initially came to market. And many of these streaming services haven't even been around for 10 years.

Consumers have grumbled, but have so far been willing to keep paying up. It's hard to say where their breaking point will be, but given that analysts believe the platforms are likely to continue raising prices even further, we'll probably find out soon enough. Part of what's driving the price hikes is how saturated the streaming market has become. For a company like Netflix, which has 77 million paid subscribers in the U.S. and Canada, finding new paying subscribers to keep revenue growing is not easy. Netflix has started clamping down on password sharing to boost its paid subscriber rolls, but that only goes so far. Raising prices for existing subscribers is an effective way to pump up the top line and keep investors happy.

The New York Times shows an enormous Amazon drone hovering over a driveway in the Texas suburbs. (Alternate URL here.) The drone lets go of a large brown package, which plummets to the ground.

But 10 years after Amazon revealed its drone program, drone delivery is only "kind of" a reality, the Times argues — in one city in Texas. "The venture as it currently exists is so underwhelming that Amazon can keep the drones in the air only by giving stuff away." Years of toil by top scientists and aviation specialists have yielded a program that flies Listerine Cool Mint Breath Strips or a can of Campbell's Chunky Minestrone With Italian Sausage — but not both at once — to customers as gifts....

Only one item can be delivered at a time. It can't weigh over five pounds. It can't be too big. It can't be something breakable, since the drone drops it from 12 feet. The drones can't fly when it is too hot or too windy or too rainy. You need to be home to put out the landing target and to make sure that a porch pirate doesn't make off with your item or that it doesn't roll into the street... But your car can't be in the driveway. Letting the drone land in the backyard would avoid some of these problems, but not if there are trees. Amazon has also warned customers that drone delivery is unavailable during periods of high demand for drone delivery...

A more complicated issue was getting the technology to the point where it was safe not just most of the time but all of the time. The first drone that lands on someone's head, or takes off clutching a cat, sets the program back another decade, particularly if it is filmed.
The drones also struggled with real-world issues like Texas heat waves. During one heat wave the drones were suspended. And when they flew again, "a 54-year-old professor of civil engineering at Texas A&M ordered a medication through the mail. By the time he retrieved the package, the drug had melted." One of Amazon's customers tells the Times that Amazon's drones "feel more like a toy than anything — a toy that wastes a huge amount of paper and cardboard."

Amazon claims that in the last 10 months their drones have delivered "hundreds" of items in Texas. Beyond that, Amazon recently announced that its drone deliveries would be expanding within the next 14 months, the Times points out — to Britain, Italy, and a new U.S. location. "Yet even on the threshold of growth, a question lingers. Now that the drones finally exist in at least limited form, why did we think we needed them in the first place?"

Nicolas Cage weighed in on the debate over the use of artificial intelligence in movies, and had some critical words about his brief cameo in Warner Bros. The Flash, in a new interview published this week. From a report: On the subject of AI, the Renfield actor told Yahoo! Entertainment that he has a rather dim view of the technology. "AI is a nightmare to me," Cage said. "It's inhumane. You can't get more inhumane than artificial intelligence ... I would be very unhappy if people were taking my art ... and appropriating [it]." Yet it wasn't AI, Cage said, that was responsible for his cameo in last summer's The Flash. The film envisioned a younger Cage as a multiverse version of Superman that inspired by Superman Lives -- Tim Burton's Man of Steel project that was famously canceled before it could get off the ground in 1998.

In The Flash, Cage's Superman was fighting a large creature with red lasers coming out of his eyes. But the actor says this was very different from what he actually shot for The Flash. "When I went to the picture, it was me fighting a giant spider," Cage said. "I did not do that. That was not what I did. I don't think it was [created by] AI. I know Tim [Burton] is upset about AI, as I am. It was CGI, OK, so that they could de-age me, and I'm fighting a spider. I didn't do any of that, so I don't know what happened there."

That the 59-year-old actor was actually on set is a bit unexpected, as many watching the film just assumed the entire performance was created by CG. Cage said what was actually filmed, and what he was told the scene would be, was something more solemn. "What I was supposed to do was literally just be standing in an alternate dimension, if you will, and witnessing the destruction of the universe," he said. "Kal-El was bearing witness [to] the end of a universe, and you can imagine with that short amount of time that I had, what that would mean in terms of what I can convey. I had no dialogue [so I had to] convey with my eyes the emotion. So that's what I did. I was on set for maybe three hours."

Slashdot readers schwit1 and Another Random Kiwi share the breaking news that FTX founder Sam Bankman-Fried has been found guilty of fraud. From the Associated Press: FTX founder Sam Bankman-Fried's spectacular rise and fall in the cryptocurrency industry -- a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president -- hit a new bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion. After the monthlong trial, jurors rejected Bankman-Fried's claim during four days on the witness stand in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world's second-largest crypto exchange, collapsed into bankruptcy a year ago.

"His crimes caught up to him. His crimes have been exposed," Assistant U.S. Attorney Danielle Sassoon told the jury of the onetime billionaire just before they were read the law by Judge Lewis A. Kaplan and began deliberations. Sassoon said Bankman-Fried turned his customers' accounts into his "personal piggy bank" as up to $14 billion disappeared. [...] U.S. Attorney Damian Williams told reporters after the verdict that Bankman-Fried "perpetrated one of the biggest financial frauds in American history, a multibillion dollar scheme designed to make him the king of crypto." "But here's the thing: The cryptocurrency industry might be new. The players like Sam Bankman-Fried might be new. This kind of fraud, this kind of corruption is as old as time and we have no patience for it," he said.

Mozilla Foundation's decision to switch the search engine built into its Firefox browser to Yahoo from Google was a "failed" bet that degraded the user experience, the company's chief executive said. From a report: Chief Executive Officer Mitchell Baker said Mozilla decided to switch to Yahoo's technology in 2014 after CEO Marissa Mayer took over and promised "to make a big bet on us."

"That bet failed," Baker said in a videotaped interview from 2022 played Wednesday in Google's defense during the Justice Department's antitrust trial. "The search experience that Yahoo was providing to Firefox users deteriorated." The Mozilla example -- the only situation in which a browser has switched the default search engine provider -- has been cited by both Google and the Justice Department to support their arguments in the case. [...] Yahoo agreed to pay Mozilla a minimum of $375 million -- more than the $276 million a year that Google was offering, Baker said. It also agreed to reduce the number of ads and offer less user tracking than Google, but over time Yahoo reneged on that and began showing more advertising, she added.

Bloomberg reports that Comcast's stock price took its biggest drop in over a year on Thursday, "after reporting drops in broadband and cable subscribers, and predicting more losses to come." Cord-cutting and increasing competition have eroded Comcast's traditional customer base. The company, which owns Xfinity, the NBCUniversal media empire and SkyTV, lost 490,000 cable-TV customers in the third quarter, better than analysts expected but part of an ongoing trend as consumers switch to streaming services like Netflix. It also lost 18,000 broadband subscribers in the quarter, with nearly all of those residential customers. Analysts had predicted Comcast would instead gain 10,900 residential broadband customers.

Shares fell as much as 8% on the news Thursday, their biggest intraday decline since July 2022.

"Growth has halted for Comcast — the largest US broadband provider, with 32 million homes," said Bloomberg Intelligence senior media analyst Geetha Ranganathan. "The company derives 80% of profit from cable, where, even after a pandemic-demand surge, broadband has been hurt by fierce competition and low-move activity among customers." Comcast expects "somewhat higher subscriber losses" in the fourth quarter due to pullback on promotional offers that targeted lower-end customers, Chief Financial Officer Jason Armstrong said on a call with investors. Revenue per customer climbed, however, in part because of price increases and promotions of higher-rate plans.

Broadband is becoming increasingly competitive as mobile providers move into the market with improved wireless internet offerings. In the past week, the Big Three — T-Mobile US Inc., AT&T Inc. and Verizon Communications Inc. — all reported subscriber gains.

Bloomberg thinks they've identified the source of the advanced chips in Huawei's newest smartphone, citing to "people familiar with the matter". In a suggestion that export restrictions on Europe's most valuable tech company may have come too late to stem China's advances in chipmaking, ASML's so-called immersion deep ultraviolet machines were used in combination with tools from other companies to make the Huawei Technologies Co. chip, the people said, asking not to be identified discussing information that's not public. ASML declined to comment.

There is no suggestion that their sales violated export restrictions... ASML has never been able to sell its EUV machines to China because of export restrictions. But less advanced DUV models can be retooled with deposition and etching gear to produce 7-nanometer and possibly even more advanced chips, according to industry analysts. The process is much more expensive than using EUV, making it very difficult to scale production in a competitive market environment. In China, however, the government is willing to shoulder a significant portion of chipmaking costs.

Chinese companies have been legally stockpiling DUV gear for years — especially after the U.S. introduced its initial export controls last year before getting Japan and the Netherlands on board... According to an investor presentation published by the company last week, ASML experienced a jump in business from China this year as chipmakers there boosted orders ahead of the export controls taking full effect in 2024. China accounted for 46% of ASML's sales in the third quarter, compared with 24% in the previous quarter and 8% in the three months ending in March.
Another article from Bloomberg includes this prediction: The U.S. won't be able to stop Huawei and SMIC from making progress in chip technology, Burn J. Lin, a former Taiwan Semiconductor Manufacturing Co. vice president, told Bloomberg News. Semiconductor Manufacturing International Corp should be able to advance to the next generation at 5 nanometers with machines from ASML Holding NV that it already operates, said Lin, who at TSMC championed the lithography technology that transformed chipmaking.
The end result is that Huawei's profit "more than doubled during the quarter it revealed its biggest achievement in chip technology," the article reports, "adding to signs the Chinese tech leader is steadying a business rocked by US sanctions." The Shenzhen company reported a 118% surge in net profit to 26.4 billion yuan ($3.6 billion) in the September quarter, and a slight rise in sales to 145.7 billion yuan, according to Bloomberg News calculations from nine-month results released Friday. Those numbers included initial sales of the vastly popular Mate 60 Pro, which began shipping in late August... The gadget sold out almost instantly, spurring expectations it could rejuvenate Huawei's fortunes and potentially cut into Apple Inc.'s lead in China, given signs of a disappointing debut for the iPhone 15...

A resurgent Huawei would pose problems not just for Apple but also local brands from Xiaomi Corp. to Oppo and Vivo, all of which are fighting for sales in a shrinking market.