Several U.S. semiconductor firms are deliberating whether to oppose a package of chip industry subsidies if the final language of the legislation awaiting a vote in the Senate disproportionately benefits manufacturers like Intel, sources familiar with the matter told Reuters. From the report: Senate Majority Leader Chuck Schumer has told lawmakers that a vote could come as early as Tuesday on a slimmed-down set of bills to bolster the U.S. computer chip industry, after Democratic lawmakers cleaved them from a larger, more contentious bill. The bills are aimed at making the U.S. more competitive against a rising China, whose chip industry has grown rapidly over the last five years to account for almost 10% of global sales. The measures include $52 billion in subsidies and an investment tax credit to boost U.S. manufacturing. The bills have bipartisan support, though Republicans may vote against the chip measures unless Democrats give up plans to try to push through unrelated spending bills that Republicans oppose. But a rift is emerging within the chip industry itself, with some players concerned the final language of the legislation could provide disproportionate support to manufacturers like Intel while doing little to support other chip makers like Advanced Micro Devices, Qualcomm and Nvidia.

The world has changed since China banned cryptomining, the Guardian reports. And now "more than a third of the global computing power dedicated to mining bitcoin comes from the US, Senator Elizabeth Warren and five other Democrats reported in a letter to the Environmental Protection Agency..."

But the Guardian also notes there's two problems with this: - The largest US cryptomining companies have the capacity to use as much electricity as nearly every home in Houston, Texas; energy use that is contributing to rising utility bills, according to an investigation by Democratic lawmakers...

- "The results of our investigation ... are disturbing ... revealing that cryptominers are large energy users that account for a significant — and rapidly growing — amount of carbon emissions," the letter states.

"It is imperative that your agencies work together to address the lack of information about cryptomining's energy use and environmental impacts." The congressional Democrats have asked the EPA and the Department of Energy to require cryptominers to disclose emissions and energy use, noting that regulators know little about the full environmental impact of the industry....

The power demands of the industry are also coming at a cost to consumers, the letter states, citing a study that found cryptomining operations in upstate New York led to a rise in electric bills by roughly $165m for small businesses and $79m for individuals.
The main operator of Texas's grid admitted this week to the Verge that by 2026 crypto mining is set to increase demand on the state's power grid by a whopping 27 gigawatts — or nearly a third of the grid's current maximum capacity.

And an associate professor at Rochester Institute of Technology with a background in electricity system policy warns the site that "The more crypto mining that comes into the state, the higher the residents should expect the electricity prices to become."

Bloomberg writes that the makers of the Robinhood app "faced a more dire situation during the height of last year's meme-stock frenzy than executives at the online brokerage let on publicly, according to a report from top Democrats on a key congressional committee." A more-than-yearlong investigation by staff on the House Financial Services Committee concluded Friday that the frenzied trading in GameStop Corp. and AMC Entertainment Holdings Inc. posed a significant threat to the online brokerage. Robinhood avoided defaulting on its regulatory collateral obligations in late January 2021 only because it received a waiver from its clearinghouse, according to the findings... "The company was only saved from defaulting on its daily collateral deposit requirement by a discretionary and unexplained waiver," according to the report. "Robinhood's risk-management processes did not work well to predict and avert the risk of default that materialized...."

The 138-page document released on Friday provides the most detailed look yet at how alarmed Robinhood executives grew over the situation in late January 2021. According to the findings, those actions didn't match the firm's public assertions.

Belief in God among Americans dipped to a new low, Gallup's latest poll shows. While the majority of adults in the U.S. believe in God, belief has dropped to 81% -- the lowest ever recorded by Gallup -- and is down from 87% in 2017. From a report: Between 1944 and 2011, more than 90% of Americans believed in God, Gallup reported. Younger, liberal Americans are the least likely to believe in God, according to Gallup's May 2-22 values and beliefs poll results released Friday. Political conservatives and married adults had little change when comparing 2022 data to an average of polls from 2013 to 2017. The groups with the largest declines are liberals (62% of whom believe in God), young adults (68%) and Democrats (72%), while belief in God is highest among conservatives (94%) and Republicans (92%). The poll also found that slightly more than half of conservatives and Republicans say they believe God hears prayers and can intervene, as well as 32% of Democrats, 25% of liberals and 30% of young adults.

A group of Senate Democrats is calling on the US Commerce Department to follow Europe's lead in forcing all smartphone manufacturers to build devices that adhere to a universal charging standard. From a report: In a Thursday letter addressed to Commerce Secretary Gina Raimondo, Sen. Ed Markey (D-MA) -- along with Sens. Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) -- demanded that the department develop a strategy to require a common charging port across all mobile devices. The letter comes a week after European Union lawmakers reached a deal on new legislation forcing all smartphones and tablets to be equipped with USB-C ports by fall 2024. "The EU has wisely acted in the public interest by taking on powerful technology companies over this consumer and environmental issue," the senators wrote. "The United States should do the same."

A bipartisan legislative effort to rein in the nation's largest tech companies is facing fresh resistance from a faction of Senate Democrats over complaints the measure could threaten their chances of holding their slim majority, 10 people familiar with the matter told POLITICO. From a report: The internal opposition comes as Democratic leaders are pushing for a vote on the bill by summer, in an effort to pass what has become a central element of the party's broader antitrust agenda. The American Innovation and Choice Online Act, S. 2992 (117) -- led by Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa) -- would ban major tech firms like Amazon and Google from favoring their products over their competitors. For example, the legislation would bar Amazon from promoting its own private-label products over rival items on its e-commerce platform. The bill marks the most serious attempt at tightening oversight of the tech industry in years and passed the Senate Judiciary Committee with support from both parties earlier this year. Yet in the days since Senate Majority Leader Chuck Schumer told Klobuchar he would hold a floor vote as early as next month, several Democratic senators have privately expressed deep reservations about voting for the legislation, particularly with a midterm election looming, in their conversations with Schumer and other Democratic offices.

The Biden administration has charged the Federal Communications Commission with prohibiting digital discrimination -- but without a third Democratic commissioner to break the agency's partisan deadlock, those plans are in trouble. From a report: One of President Biden's key domestic priorities, improving internet access and affordability, can't advance unless the Senate confirms his FCC nominee. The Federal Communications Commission has been deadlocked at 2 Democrats and 2 Republicans since Biden took office, and his nominee for the third seat, Gigi Sohn, has been awaiting a Senate vote for months amid Republican opposition. The agency is required by the Infrastructure Investment and Jobs Act to craft rules preventing digital discrimination on broadband access.

The rules would prohibit internet service providers such as Comcast or Verizon from deployment discrimination based on the income level or predominant race or ethnicity of the people living in an area. A 2020 study of internet access in Oakland, Calif., found that areas that were redlined by banks in the past -- denied loans or investment -- now have less ISP competition and fiber-based services than their wealthier counterparts. FCC Chairwoman Jessica Rosenworcel launched an inquiry in March, with support from the agency's Republicans, on how to create rules preventing digital discrimination and facilitating equal access to high-speed internet. A major question is how the agency will interpret a part of the law that says the rules should take into account issues of "technical and economic feasibility."

Some of more tech-savvy Democrats in the U.S. Senate are asking the Federal Trade Commission (FTC) to investigate identity-proofing company ID.me for "deceptive statements" the company and its founder allegedly made over how they handle facial recognition data collected on behalf of the Internal Revenue Service, which until recently required anyone seeking a new IRS account online to provide a live video selfie to ID.me. From a report: In a letter to FTC Chair Lina Khan, the Senators charge that ID.me's CEO Blake Hall has offered conflicting statements about how his company uses the facial scan data it collects on behalf of the federal government and many states that use the ID proofing technology to screen applicants for unemployment insurance. The lawmakers say that in public statements and blog posts, ID.me has frequently emphasized the difference between two types of facial recognition: One-to-one, and one-to-many. In the one-to-one approach, a live video selfie is compared to the image on a driver's license, for example. One-to-many facial recognition involves comparing a face against a database of other faces to find any potential matches.

A federal appeals court has denied a request for a rehearing on its January decision that upholds California's net neutrality law. From a report: The 2018 law, widely considered the strongest in the US, was signed into law a year after the Federal Communications Commission (FCC) repealed the Open Internet Order. That order had established stringent net neutrality rules that prohibited internet service providers from throttling or blocking legal websites and apps, and banned ISPs from prioritizing paid content. California's law, which finally took effect last year, also prohibits throttling and speed lanes. Wireless trade associations including the NCTA, the CTIA, and ISPs including Comcast, Verizon, and AT&T sued to block California's law from taking effect, saying the FCC decision should preempt the state law. But that challenge was rejected by a district court judge.

The Ninth Circuit voted 3-0 in January to uphold the lower court ruling, saying the FCC "no longer has the authority" to regulate broadband internet services because the agency reclassified them as "information services, instead of telecommunications services. The FCC therefore cannot preempt the state action." FCC chairwoman Jessica Rosenworcel praised the decision on Twitter, reiterating her position that she wants to see net neutrality become "the law on the land" again. The FCC can't currently reinstate net neutrality at the federal level however since the panel lacks a majority and the two Democrats and two Republicans remain deadlocked on the issue. President Biden's FCC nominee Gigi Sohn is still awaiting a confirmation vote in the Senate.

As Washington attempts to get its arms around the rapidly growing cryptocurrency industry, policy makers in the Biden administration and on Capitol Hill have identified stablecoins as an initial target for tighter regulation. From a report: Often billed as one-to-one representations of a currency like the dollar, stablecoins have recently exploded in popularity as investors use them for trading other cryptocurrencies. There are dozens of stablecoins, though a handful pegged to the dollar account for most of the market value, which grew roughly 500% in the 12 months ending in October, according to a report from the Biden administration.

Both Democrats and Republicans want to create new safeguards to help ensure that one stablecoin is quickly redeemable for one dollar, while at the same time warding off broader risk to financial markets. But despite bipartisan agreement about the need for new federal action on stablecoins, policy makers remain at odds about how and when to take it. The Biden administration is asking lawmakers to pass legislation that would treat stablecoin issuers like banks, a step that Republicans and some Democrats oppose in favor of a lighter statutory touch. Other Democrats are skeptical of compromising with Republicans on the issue at all, instead pushing the Biden administration to take more aggressive steps itself. How -- and if -- Congress resolves the debate over the roughly $185 billion stablecoin market is an early test of whether Washington will ultimately write new laws or wield existing frameworks to regulate the broader $2 trillion cryptocurrency industry.

The newest member of Twitter's board of directors just tweeted "Is Twitter dying?"

That would be Elon Musk — who'd preceded the question with a list of Twitter's ten most-followed accounts, noting that most of them "tweet rarely and post very little content." And in follow-up tweets, Musk pointed out that Taylor Swift hasn't posted anything in three months, while Justin Bieber "only posted once this entire year."

When someone posted a bar graph showing that Twitter's user count continued to grow, Musk posted a reply which he's since pinned to the top of his own Twitter feed.

"Now subtract crypto scam accounts that twitter constantly shows as 'real' people in everyone's feed"

This isn't the first time Elon Musk has posted something interesting on Twitter, reports AFP: On Thursday, Musk tweeted a photo of himself smoking marijuana on a Joe Rogan podcast in 2018, with the caption, "Twitter's next board meeting is gonna be lit."
About an hour ago Musk also shared a graph from YouGov (a British market research and data analytics firm) showing that Democrats and Republicans have starkly different levels of trust in major news sources. On the chart Republicans show an average "trustworthiness" rating above 50% for just two of the 22 news outlets: Fox News and the Weather Channel.

Above the chart Musk added the words, "Truth is the first casualty."

Two minutes later he followed that tweet with an equally cryptic remark.

"69.420% of statistics are false."

U.S. president Joe Biden "will invoke the Defense Production Act to encourage domestic production of minerals required to make batteries for electric vehicles and long-term energy storage," reports CNBC.

"It will also help the U.S. minimize dependence on foreign supply chains." The president's order could help companies receive government funding for feasibility studies on projects that extract materials, including lithium, nickel, cobalt, graphite and manganese, for EV production.

The Defense Production Act, established by President Harry Truman during the Cold War, allows the president to use emergency authority to prioritize the development of specific materials for national production.... The administration also said it's reviewing further uses of the law to "secure safer, cleaner, and more resilient energy for America."

The transportation sector is one of the largest contributors to U.S. greenhouse gas emissions, representing about one-third of emissions every year. The transition away from gas vehicles to EVs is considered critical to combating human-caused climate change....

The administration in February unveiled a plan to allocate $5 billion to states to fund EV chargers over five years as part of the bipartisan infrastructure package.
The White House said in a statement the move would reduce America's reliance on China and other countries "for the minerals and materials that will power our clean energy future."

Democratic lawmakers are entering a crypto collision course. Politico reports: Questions around how to police digital currency and whether to support its adoption are driving a rift not just between the party's liberal and centrist wings but also among progressives who often see eye-to-eye on financial regulation. Sen. Elizabeth Warren of Massachusetts -- who has long led the left's charge to crack down on banks and Wall Street -- has emerged as one of the party's most vocal cryptocurrency critics, warning that it exposes consumers to danger, is ripe for financial crimes and is an environmental threat because of its electricity usage. But a new generation of progressives -- and a number of other senior Democrats -- are embracing the startup industry. They're arguing against regulations that could stifle what proponents say is a new avenue for financial inclusion and a breakthrough alternative to traditional banks. "The project of radically decentralizing the internet and finance strikes me as a profoundly progressive cause," Rep. Ritchie Torres (D-N.Y.) said in an interview. "You should never define any technology by its worst uses. ... There's more to crypto than ransomware, just like there's more to money than money laundering."

The simmering conflict is set to intensify in the coming months. President Joe Biden last week asked federal agencies to start solidifying the federal government's approach to crypto, framing the step as supportive of innovation rather than an industry crackdown. The price of Bitcoin surged on the news. Separately, Democratic lawmakers have started to draft a host of crypto regulation bills that are also exposing a wide range of views on the government's role in the $1.7 trillion market for digital assets. The lack of consensus among Democrats means it's unlikely Congress will act anytime soon to pass major legislation laying out the direction of regulation of the new market. Some Democrats and lobbyists had expected initial votes early this year, but that timeline has slipped.

An anonymous reader quotes a report from the Washington Post: The CIA has a secret, undisclosed data repository that includes information collected about Americans, two Democrats on the Senate Intelligence Committee said Thursday. While neither the agency nor lawmakers would disclose specifics about the data, the senators alleged the CIA had long hidden details about the program from the public and Congress. Sens. Ron Wyden of Oregon and Martin Heinrich of New Mexico sent a letter to top intelligence officials calling for more details about the program to be declassified. Large parts of the letter, which was sent in April 2021 and declassified Thursday, and documents released by the CIA were blacked out. Wyden and Heinrich said the program operated "outside the statutory framework that Congress and the public believe govern this collection."

"CIA recognizes and takes very seriously our obligation to respect the privacy and civil liberties of U.S. persons in the conduct of our vital national security mission," Kristi Scott, the agency's privacy and civil liberties officer, said in a statement. "CIA is committed to transparency consistent with our obligation to protect intelligence sources and methods." The CIA released a series of redacted recommendations about the program issued by an oversight panel known as the Privacy and Civil Liberties Oversight Board. According to the document, a pop-up box warns CIA analysts using the program that seeking any information about U.S. citizens or others covered by privacy laws requires a foreign intelligence purpose. "However, analysts are not required to memorialize the justification for their queries," the board said.

According to Wyden and Heinrich's letter, the CIA's bulk collection program operates outside of laws passed and reformed by Congress, but under the authority of Executive Order 12333, the document that broadly governs intelligence community activity and was first signed by President Ronald Reagan in 1981. "It is critical that Congress not legislate without awareness of a ... CIA program, and that the American public not be misled into believe that the reforms in any reauthorization legislation fully cover the IC's collection of their records," the senators wrote in their letter. There was a redaction in the letter before "CIA program." Additional documents released by the CIA Thursday also revealed limited details about a program to collect financial data against the Islamic State. That program also has incidentally snared some records held by Americans. "These reports raise serious questions about the kinds of information the CIA is vacuuming up in bulk and how the agency exploits that information to spy on Americans," Patrick Toomey, a lawyer for the American Civil Liberties Union, said in a statement. "The CIA conducts these sweeping surveillance activities without any court approval, and with few, if any, safeguards imposed by Congress."

Manufacturers and other buyers of computer chips had less than five days' supply of some chips on hand late last year, leaving them vulnerable to any disruptions in deliveries, the Commerce Department reported Tuesday as it pushed Congress to endorse federal aid for chip makers. The Washington Post reports: Manufacturers' median chip inventory levels have plummeted from about 40 days' supply in 2019 to less than five days, according to a survey of 150 companies worldwide that the Commerce Department conducted in September. "This means a disruption overseas, which might shut down a semiconductor plant for 2-3 weeks, has the potential to disable a manufacturing facility and furlough workers in the United States if that facility only has 3-5 days of inventory," the Commerce Department concluded in a six-page summary of its findings.

The lack of chip inventory leaves auto manufacturers and other chip users with "no room for error," Commerce Secretary Gina Raimondo said Tuesday as she presented the findings. "A covid outbreak, a storm, a natural disaster, political instability, problem with equipment -- really anything that disrupts a [chip-making] facility anywhere in the world, we will feel the ramifications here in the United States of America," she said. "A covid outbreak in Malaysia has the potential to shut down a manufacturing facility in America."

"The reality is Congress must act," Raimondo added, urging lawmakers to pass a proposal for $52 billion in federal subsidies to incentivize construction of chip factories. "Every day we wait, we fall further behind." The Senate passed the measure last year. The legislation has been tied up for months in the House, though House Democrats are expected to introduce their version of the legislation as soon as this week. Industry executives say federal funding is likely to create more long-term supply of chips but not to alleviate the short-term shortages because chip factories take years to build.

Cable operators would face more competition for the roughly one-third of Americans living in apartment buildings under an order advanced Friday at the U.S. Federal Communications Commission. From a report: FCC Chairwoman Jessica Rosenworcel asked fellow commissioners to approve a measure that she said would "crack down on practices that lock out broadband competition and consumer choice." The order would prohibit cable service providers from entering into certain revenue sharing agreements with a building owner, and seek to ease alternative providers' access to the wiring of buildings, Rosenworcel said in a news release. The order would affect more than one-third of the U.S. population who live in apartments, mobile home parks, condominiums and public housing, Rosenworcel said. The order needs to succeed in a vote before the FCC, which is split with two Democrats and two Republicans as a Democrat nominated by President Joe Biden awaits Senate confirmation.

Democrats introduced a new bill that would ban nearly all use of digital advertising targeting on ad markets hosted by platforms like Facebook, Google, and other data brokers. From a report: The Banning Surveillance Advertising Act -- sponsored by Reps. Anna Eshoo (D-CA), Jan Schakowsky (D-IL), and Sen. Cory Booker (D-NJ) -- prohibits digital advertisers from targeting any ads to users. It makes some small exceptions, like allowing for "broad" location-based targeting. Contextual advertising, like ads that are specifically matched to online content, would be allowed. "The 'surveillance advertising' business model is premised on the unseemly collection and hoarding of personal data to enable ad targeting," Eshoo, the bill's lead sponsor, said in a Tuesday statement. "This pernicious practice allows online platforms to chase user engagement at great cost to our society, and it fuels disinformation, discrimination, voter suppression, privacy abuses, and so many other harms. The surveillance advertising business model is broken."

schwit1 writes: Millions of small business owners who rely on payment apps like Venmo, PayPal and Cash App could be subject to a new tax law that just took effect in January. Beginning this year, third-party payment processors will be required to report a user's business transactions to the IRS if they exceed $600 for the year. The payment apps were previously required to send users Form 1099-K if their gross income exceeded $20,000 or they had 200 separate transactions within a calendar year. Democrats made the change in March 2021, when they passed the American Rescue Plan without any Republican votes. The new rule only applies to payments received for goods and services transactions, meaning that using Venmo or PayPal to send a loved one a gift, pay your roommate rent, or reimburse a friend for dinner will be excluded. Also excluded is anyone who receives money from selling a personal item at a loss; for example, if you purchased a couch for $300 and sold it for $250, the amount is not taxable.

The Justice Department is still months away from deciding whether to sue Apple or file a new suit against Google over antitrust concerns, POLITICO reported Thursday, citing two people familiar with the discussions -- a question facing new financial complications after the collapse of President Joe Biden's social spending bill. From a report: DOJ antitrust prosecutors had earlier aimed to wrap up their probes of the two tech giants by Dec. 31, culminating years of scrutiny by the department into Apple's App Store and Google's command of the online ad market. But now the decision on going to court is likely to come in March or later because of continued discussions about where to file and who will make the call, the two people told POLITICO. They spoke anonymously to discuss internal DOJ deliberations. Another major concern for the department is the likely expense of a court battle with the two companies, each of which has a market value exceeding $1 trillion. That issue became more fraught this week when Sen. Joe Manchin (D-W.Va.) torpedoed Democrats' Build Back Better package, which would have given DOJ a $500 million boost for antitrust enforcement.

Thelasko shares a report from The New York Times: In Pittsburgh, Memphis and Los Angeles, massive billboards recently popped up declaring, "Birds Aren't Real." On Instagram and TikTok, Birds Aren't Real accounts have racked up hundreds of thousands of followers, and YouTube videos about it have gone viral. Last month, Birds Aren't Real adherents even protested outside Twitter's headquarters in San Francisco to demand that the company change its bird logo. The events were all connected by a Gen Z-fueled conspiracy theory, which posits that birds don't exist and are really drone replicas installed by the U.S. government to spy on Americans. Hundreds of thousands of young people have joined the movement, wearing Birds Aren't Real T-shirts, swarming rallies and spreading the slogan.

It might smack of QAnon, the conspiracy theory that the world is controlled by an elite cabal of child-trafficking Democrats. Except that the creator of Birds Aren't Real and the movement's followers are in on a joke: They know that birds are, in fact, real and that their theory is made up. What Birds Aren't Real truly is, they say, is a parody social movement with a purpose. In a post-truth world dominated by online conspiracy theories, young people have coalesced around the effort to thumb their nose at, fight and poke fun at misinformation. It's Gen Z's attempt to upend the rabbit hole with absurdism. [...] At the center of the movement is Peter McIndoe, 23, a floppy-haired college dropout in Memphis who created Birds Aren't Real on a whim in 2017. For years, he stayed in character as the conspiracy theory's chief believer, commanding acolytes to rage against those who challenged his dogma. But now, Mr. McIndoe said in an interview, he is ready to reveal the parody lest people think birds really are drones. "Dealing in the world of misinformation for the past few years, we've been really conscious of the line we walk," he said. "The idea is meant to be so preposterous, but we make sure nothing we're saying is too realistic. That's a consideration with coming out of character." [...]

Mr. McIndoe now has big plans for 2022. Breaking character is necessary to help Birds Aren't Real leap to the next level and forswear actual conspiracy theorists, he said. He added that he hoped to collaborate with major content creators and independent media like Channel 5 News, which is aimed at helping people make sense of America's current state and the internet. "I have a lot of excitement for what the future of this could be as an actual force for good," he said. "Yes, we have been intentionally spreading misinformation for the past four years, but it's with a purpose. It's about holding up a mirror to America in the internet age."