Nature published an introduction to running an LLM locally, starting with the example of a bioinformatician who's using AI to generate readable summaries for his database of immune-system protein structures. "But he doesn't use ChatGPT, or any other web-based LLM." He just runs the AI on his Mac... Two more recent trends have blossomed. First, organizations are making 'open weights' versions of LLMs, in which the weights and biases used to train a model are publicly available, so that users can download and run them locally, if they have the computing power. Second, technology firms are making scaled-down versions that can be run on consumer hardware — and that rival the performance of older, larger models. Researchers might use such tools to save money, protect the confidentiality of patients or corporations, or ensure reproducibility... As computers get faster and models become more efficient, people will increasingly have AIs running on their laptops or mobile devices for all but the most intensive needs. Scientists will finally have AI assistants at their fingertips — but the actual algorithms, not just remote access to them.
The article's list of small open-weights models includes Meta's Llama, Google DeepMind's Gemma, Alibaba's Qwen, Apple's DCLM, Mistral's NeMo, and OLMo from the Allen Institute for AI. And then there's Microsoft: Although the California tech firm OpenAI hasn't open-weighted its current GPT models, its partner Microsoft in Redmond, Washington, has been on a spree, releasing the small language models Phi-1, Phi-1.5 and Phi-2 in 2023, then four versions of Phi-3 and three versions of Phi-3.5 this year. The Phi-3 and Phi-3.5 models have between 3.8 billion and 14 billion active parameters, and two models (Phi-3-vision and Phi-3.5-vision) handle images1. By some benchmarks, even the smallest Phi model outperforms OpenAI's GPT-3.5 Turbo from 2023, rumoured to have 20 billion parameters... Microsoft used LLMs to write millions of short stories and textbooks in which one thing builds on another. The result of training on this text, says Sébastien Bubeck, Microsoft's vice-president for generative AI, is a model that fits on a mobile phone but has the power of the initial 2022 version of ChatGPT. "If you are able to craft a data set that is very rich in those reasoning tokens, then the signal will be much richer," he says...

Sharon Machlis, a former editor at the website InfoWorld, who lives in Framingham, Massachusetts, wrote a guide to using LLMs locally, covering a dozen options.
The bioinformatician shares another benefit: you don't have to worry about the company updating their models (leading to different outputs). "In most of science, you want things that are reproducible. And it's always a worry if you're not in control of the reproducibility of what you're generating."

And finally, the article reminds readers that "Researchers can build on these tools to create custom applications..." Whichever approach you choose, local LLMs should soon be good enough for most applications, says Stephen Hood, who heads open-source AI at the tech firm Mozilla in San Francisco. "The rate of progress on those over the past year has been astounding," he says. As for what those applications might be, that's for users to decide. "Don't be afraid to get your hands dirty," Zakka says. "You might be pleasantly surprised by the results."

German law enforcement seized 47 cryptocurrency exchange services "that facilitated illegal money laundering activities for cybercriminals," according to BleepingComputer, "including ransomware gangs."

Long-time Slashdot reader Arrogant-Bastard shares their report: The platforms allowed users to exchange cryptocurrencies without following applicable "Know Your Customer" regulations, meaning that users remained completely anonymous when making transactions. This created a low-risk environment for cybercriminals to launder their proceeds without fearing prosecution or being tracked. "Exchange services that enable such anonymous financial transactions and thus money laundering represent one of the most relevant building blocks in the criminal value chain of the cybercrime phenomenon," reads a Federal Criminal Police Office (BKA) announcement... When visiting any of the seized exchanges, you are now redirected to a warning page titled "Operation Final Exchange," which warns visitors that they have been deceived by the promises of anonymity by the operators of these platforms.
The new site notes years-long promises from the exchanges "that their hosting cannot be found, that they do not store any customer data and that all data is deleted immediately after the transaction...

"We have found their servers and seized them — development servers, production servers, backup servers. We have their data — and therefore we have your data. Transactions, registration data, IP addresses.

"Our search for traces begins. See you soon."

In the antitrust trial alleging Google had an ad-selling monopoly, "government lawyers have said some of their strongest evidence is in Google's own internal communications," reports the Wall Street Journal: [In 2010] a new crop of ad-tech companies were threatening Google's bottom line. "One way to make sure we don't get further behind in the market is picking up the one with the most traction and parking it somewhere..." [wrote YouTube Chief Executive Neal Mohan, who previously ran Google's display-ads business]. Google ended up buying one such company, AdMeld, for $400 million in 2011. Google shut down AdMeld two years later, after incorporating some of the startup's technology into its ad exchange, known commonly as AdX.

The Justice Department argued that AdMeld was part of a larger trend: Google acquiring nascent rivals to corner the market and then locking customers into using its products by conditioning access to one software tool on them paying for another... In a 2016 email introduced by the government, Google executive Jonathan Bellack asked colleagues: "Is there a deeper issue with us owning the platform, the exchange, and a huge network? The analogy would be if Goldman or Citibank owned the NYSE [New York Stock Exchange]...." The Justice Department also cited a 2018 email from another then-executive, Chris LaSala, who raised concerns internally over the 20% cut that Google takes from many of its AdX customers, saying Google was extracting "irrationally high rent" from users. "I don't think there is 20% of value in comparing two bids," wrote LaSala. "AdX is not providing additional liquidity to the market. It is simply running the auction."

Another former Google executive, Eisar Lipkovitz, testified that Google's omnipresence in ad-tech gives rise to conflicts of interest. Lipkovitz was rebuffed when he tried to get Google to lower the cut it took from AdX, he testified in a prerecorded deposition. The Justice Department finished presenting its case on Friday. Other witnesses included Google customers. One was Stephanie Layser, a former News Corp executive, who said she felt she had no choice but to use Google technology because the search giant has such market power that switching to another ad server would have meant losing out on millions in advertising revenue.
Google's lawyer countered that "There will be no witness in this case who can say with clarity where this industry is going in the next five years."

Or, as the Wall Street Journal puts it, "It makes no sense to focus on display ads, Google argues, when the industry is shifting to apps, social media and streaming services. Far from monopolizing the space, Google is actually losing ground, Google lawyer Karen Dunn said in her opening trial statement..."

The Washington Post reports that electric vehicles made by General Motors now can use Tesla's Superchargers. (GM's charger adapters "will first be made available to customers in the United States, followed by availability for Canadian customers later this year.") The Post writes that the move "expands the number of vehicles compatible with the North American Charging Standard developed by Tesla" — and also marks "another step forward for efforts to settle on a universal public charger network for battery-powered cars and trucks in the U.S.

"It could also allay some GM customers' concerns about a lack of charging options." The new changes take effect immediately, along with sales of the GM-approved power adapters... The deal makes roughly 17,800 Tesla Superchargers available to drivers of GM-manufactured vehicles such as the Chevy Bolt, Cadillac Lyriq and Silverado EV, with the help of an adapter that costs $225... GM estimates that the partnership with Tesla contributes to an overall network of 231,800 fast chargers across the United States available to drivers of its vehicles. GM is also part of IONNA, a joint venture of eight automakers that plans to build at least 30,000 high-powered chargers nationwide.
GM's statement calls it "a move that will help accelerate fast and convenient charging options for current and future EV drivers." And the move comes 15 months after GM announced it was adopting the standard — a move followed within weeks by similar announcements from Rivian, Ford, Volvo, Nissan, Hyundai and Kia. "Ford and Rivian have started distributing adapters for their EVs," the Washington Post points out, "while others, such as BMW, Honda, Hyundai and Mercedes-Benz have promised to start making their vehicles compatible this year or next."

"Knowing we will now have access to Tesla Supercharger locations means that range anxiety has now virtually evaporated..." argues a Chevy owner at CleanTechnica: This is mostly good news for drivers of electric cars from GM. Tesla and The General have been bitter enemies in the past, with GM opposing Tesla's direct sales model in many states. The once fierce battle has cooled in recent years, but GM essentially won by keeping Tesla from selling direct to the public in several US states, including its new home of Texas. Nevertheless, the two companies are now cooperating, which is a bonus for drivers...

Despite some niggling concerns, this is a big deal for EV drivers in North America. Tesla Superchargers are the gold standard in the industry today. There are fast, reliable, and always located in clean, well-lit places where restrooms and fresh foods are available. This could very well change the conversation about electric cars to the point where by the time GM, Ford, and Stellantis get their plug-in hybrids into showrooms, the demand for them will have shrunk considerably.
One GM executive says in this week's statement that "GM's ongoing efforts to help accelerate the expansion of public charging infrastructure is an integral part of our commitment to an all-electric future."

"In all likelihood, in the next 25 years, we'll find evidence of life on another planet..." begins a new essay by author Dave Eggers in the Washington Post.

"In more than a dozen conversations with some of the best minds in astrophysics, I did not meet anyone who was doubtful about finding evidence of life elsewhere — most likely on an exoplanet beyond our solar system. It was not a matter of if. It was a matter of when." [A]ll evidence points to us getting closer, every year, to identifying moons in our solar system, or exoplanets beyond it, that can sustain life. And if we don't find conditions for life on the moons near us, we'll find it on exoplanets — that is, planets outside our solar system. Within the next few decades, we'll likely find an exoplanet that has an atmosphere, that has water, that has carbon and methane and oxygen. Or some combination of those things.

And thus, the conditions for life. In a few years, NASA will launch the Nancy Grace Roman Space Telescope, which will have a panoramic field of vision a hundred times greater than the Hubble Space Telescope. And on the Nancy Grace Roman Space Telescope — we'll call it Roman from here on out — there will be a coronagraph, a device designed to perform something called, beautifully, starlight suppression. Starlight suppression is the blocking of the rays of a faraway star so that we can see behind it and around it. Once we can master starlight suppression, with Roman and NASA's next astrophysics flagship, the Habitable Worlds Observatory, we'll find the planets where life might exist.

To recap: For thousands of years, humans have wondered whether life is possible elsewhere in the universe, and now we're within striking distance of being able to say not only yes, but here.

And yet this is not front-page news. I didn't really know how close we were to this milestone until I visited the Jet Propulsion Laboratory in Pasadena, Calif., on a hot and dry day in June...
Eggers' article is part of an ongoing series called "Who is government?" (For the series Michael Lewis also profiled the uncelebrated number-crunchers at the U.S. Department of Labor, while Casey Cep wrote about the use of DNA to identify the remains of World War II soldiers for America's Veteran Affairs' department's.) But this week Eggers wrote that the work being done at NASA's Jet Propulsion Laboratory "is the most inspiring research and exploration being done by any humans on our planet..."

"No billionaires will fund work like this because there's no money in it. This is government-funded research to determine how the universe was created and whether we are alone in it. If NASA and JPL were not doing it, it would not be done."

Eggers emphasizes later that "doesn't mean it's intelligent life, or even semi-intelligent life. It could be bacteria, or some kind of interstellar sea cucumber. But whatever form it takes, we are close to finding it..."

Friday the Wall Street Journal reported Qualcomm recently "made a takeover approach" to Intel, which has a market value of roughly $90 billion ("according to people familiar with the matter...") A deal is far from certain, the people cautioned. Even if Intel is receptive, a deal of that size is all but certain to attract antitrust scrutiny, though it is also possible it could be seen as an opportunity to strengthen the U.S.'s competitive edge in chips... Both Intel and Qualcomm have become U.S. national champions of sorts as chip-making gets increasingly politicized. Intel is in line to get up to $8.5 billion of potential grants for factories in the U.S. as Chief Executive Pat Gelsinger tries to build up a business making chips on contract for outsiders...
Both Intel and Qualcomm have been "overshadowed" by Nvidia's success in powering the AI boom, the article points out.

But "To get the deal done, Qualcomm could intend to sell assets or parts of Intel to other buyers... A deal would significantly broaden Qualcomm's horizons, complementing its mobile-phone chip business with chips from Intel that are ubiquitous in personal computers and servers..." Qualcomm's approach follows a more than three-year turnaround effort at Intel under Gelsinger that has yet to bear significant fruit. For years, Intel was the biggest semiconductor company in the world by market value, but it now lags behind rivals including Qualcomm, Broadcom, Texas Instruments and AMD. In August, following a dismal quarterly report, Intel said it planned to lay off thousands of employees and pause dividend payments as part of a broad cost-saving drive. Gelsinger last month laid out a roadmap to slash costs by more than $10 billion in 2025, as the company reported a loss of $1.6 billion for the second quarter, compared with a $1.5 billion profit a year earlier...

Intel earlier this year began to report separate financial results of its manufacturing operations, which many on Wall Street saw as a prelude to a possible split of the company. Some analysts have argued Intel should be split into two, mirroring a shift in the industry toward specializing in either chip design or chip manufacturing. Splitting up immediately might not be possible, however, Bernstein Research analyst Stacy Rasgon said in a recent note. Intel's manufacturing arm is money-losing and hasn't gained strong traction with customers other than Intel itself since Gelsinger opened the factories to outside chip designers three years ago. Gelsinger has been doubling down on the company's factory ambitions, outlining spending of hundreds of billions of dollars building new plants in the U.S., Europe and Israel in recent years.

Given Intel's market value, a successful takeover of the entire company would rank as the all-time largest technology M&A deal, topping Microsoft's $69 billion acquisition of Activision Blizzard.
Intel's stock "had its biggest one-day drop in over 50 years in August after the company reported disappointing earnings," reports CNBC. Partly because of that one-day, 26% drop, Intel's shares "are down 53% this year as investors express doubts about the company's costly plans to manufacture and design chips."

But the Register remains skeptical about Qualcomm taking over Intel: Chipzilla may not be worth much to Qualcomm unless it can renegotiate the x86/x86-64 cross-licensing patent agreement between Intel and AMD, which dates back to 2009. That agreement is terminated if a change in control happens at either Intel or AMD.

While a number of the patents expired in 2021, it's our understanding that agreement is still in force and Qualcomm would be subject to change of control rules. In other words, Qualcomm wouldn't be able to produce Intel-designed x86-64 chips unless AMD gave the green light. It's also likely one of the reasons why no one bought AMD when it was dire straits; whoever took over it would have to deal with Intel.

American Battery Technology and lithium-producer Albemarle are among 25 companies getting more than $3 billion in funding from the Biden administration to boost domestic production of advanced batteries and components. From a report: The funding -- part of a broader White House goal of creating an American battery supply chain -- is going to projects that are building, expanding or retrofitting facilities to process critical minerals, build components and batteries and recycle materials, the Energy Department said Friday.

American Battery Technology received $150 million to build a commercial-scale lithium-ion battery recycling facility in South Carolina. Albemarle is getting $67 million to retrofit a facility to manufacture commercial anode material for next-generation lithium-ion batteries around Charlotte, North Carolina. Other projects included $50 million for Cabot and $225 million for SWA Lithium, a joint venture of Standard Lithium and Equinor. Batteries -- which are used for electric vehicles as well as storing renewable energy for use on the electric grid -- are considered critical to reaching the administration's goal of net-zero emissions by 2050 and for boosting electric vehicles to half of all new light-duty vehicle sales by 2030.

Meta and Apple have increasingly been rivals, and Mark Zuckerberg only expects their competition to intensify in the coming years. From a report: "I think in a lot of ways we're like the opposite of Apple," Zuckerberg said. "Clearly, their stuff has worked really well too. They take this approach that's like, 'We're going to take a long time, we're going to polish it, we're going to put it out,' and maybe for the stuff that they're doing that works, maybe that just fits with their culture."

Zuckerberg went on to say Meta approaches product releases differently, saying, "there are a lot of conversations that we have internally where you're almost at the line of being embarrassed at what you put out." "You want to really have a culture that values shipping and getting things out and getting feedback more than needing always to get great positive accolades from people when you put stuff out," he continued.

He also took the opportunity to critique Apple's approach. "If you want to wait until you get praised all the time, you're missing a bunch of the time when you could've learned a bunch of useful stuff and then incorporated that into the next version you're going to ship," he said. [...] Zuck said one of his goals for the next 10 or 15 years is "to build the next generation of open platforms and have the open platforms win."

Deadly attacks using booby-trapped pagers and walkie-talkies in Lebanon has revealed significant vulnerabilities in the supply chains for older electronic devices. The incident, which killed 37 people and injured about 3,000, has sparked investigations across Europe into the origins of the weaponized gadgets.

Taiwan-based Gold Apollo blamed a European licensee for the compromised pagers, while Japan's Icom could not verify the authenticity of the walkie-talkies bearing its name. Both companies denied manufacturing the deadly components in their home countries. Industry executives say older electronics from Asia often lack the tight supply chain controls of newer products, making it difficult to trace their origins. Counterfeiting, surplus inventories, and complex manufacturing deals further complicate the issue.

An anonymous reader quotes a report from Bloomberg: Walmart customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing. The world's largest retailer has offered pay-by-bank through Walmart Pay since earlier this year. Until now, the transactions were akin to digital checks and took roughly three days to finalize when being processed through The Automated Clearing House, the same network often used for bill payments or paycheck deposits. Soon, customers opting for pay-by-bank transactions will see the purchase reflected in their bank account balance instantly -- and Walmart will receive the funds immediately. [...]

Walmart's upgraded pay-by-bank offering will be rolled out in 2025. The transactions will occur over bank technology provider Fiserv's NOW Network, which integrates with The Clearing House's Real Time Payments network and the Federal Reserve's FedNow. Until now, large retailers hesitated to launch real time payment options because many banks were not connected to an instant settlement system, meaning their customers would not be able to use the product. NOW Network aims to connect to as many banks as possible to reach 100% of deposit accounts by combining its own network with RTP and FedNow. The instant pay-by-bank product will be available for online checkout on Walmart.com. The Bentonville, Arkansas-based retailer already has customers set up a profile when they shop online. If they opt to add pay-by-bank as a payment option on their profile, they will enter their bank login credentials to connect their account. Fiserv's AllData platform connects with their bank clients and vendors including Plaid, MX, Akoya and Finicity to link and authenticate consumer accounts. With this instant pay-by-bank product, consumers will avoid stacked pending transactions, which can open them up to the risk of overdraft or non-sufficient fund fees from their bank. "When the transaction processes as a real time payment, customers get immediate access to see that payment come through, I see it hit my account and I can properly budget," said Jamie Henry, vice president of emerging payments at Walmart. "It's not as if I've got this phantom payment out there that's going to take place a couple days down the road."

Residents of California can now store their driver's license or state ID in Apple or Google Wallet, according to an announcement today. Apple also shared the news. TechCrunch reports: Californians with an ID in the Apple Wallet or Google Wallet app can use their mobile devices to present their ID in person at select TSA security checkpoints and businesses. They can also use the app to verify their age or identity in select apps. Other states that already support digital driver's licenses and state IDs include Arizona, Colorado, Georgia, Maryland, and Ohio.

The once-booming tech job market has contracted sharply, with software development postings down over 30% since February 2020, according to Indeed.com. Tech companies have shed around 137,000 jobs since January, Layoffs.fyi reports.

This downturn, following years of aggressive hiring, marks a significant shift in the industry's labor dynamics. Companies are pivoting from growth-at-all-costs strategies to revenue-focused approaches, cutting entry-level positions and redirecting resources towards AI development. The release of ChatGPT in late 2022 sparked an AI investment frenzy, creating high demand for specialized AI talent.

Coming soon: Amazon sellers duking it out on TV to get their wares prime placement at the world's largest online retailer. Think "Shark Tank" meets Home Shopping Network. From a report: The e-commerce giant plans to introduce a new competition show next month in which entrepreneurs pitch their products to a studio audience as well as to judges including Amazon executives and celebrities like Goop founder Gwyneth Paltrow and designer Christian Siriano. Finalists will have their inventions sold in a new Amazon "Buy It Now" online store, and the winner of each episode will earn $20,000.

The show is the retailer's latest attempt to marry content and commerce. Persuading consumers to shop through Internet-enabled televisions has long been a goal of traditional entertainment companies, but getting viewers to scan the QR code can be difficult. By creating shows that highlight its sellers and their products, Amazon has a better shot at getting viewers to shop -- especially younger audiences who are already doing this on apps like TikTok, said Bernstein analyst Mark Shmulik. "This feels more elegant than QR codes," Shmulik said of Amazon's new game show. Over the past few years, Amazon has introduced ads with QR codes in about 100 shows and movies, including "The Summer I Turned Pretty," "The Boys" and, more recently, NFL football games.

ZDNet's Steven Vaughan-Nichols reports: After 20 years, Real-Time Linux (PREEMPT_RT) is finally -- finally -- in the mainline kernel. Linus Torvalds blessed the code while he was at Open Source Summit Europe. [...] The real-time Linux code is now baked into all Linux distros as of the forthcoming Linux 6.12 kernel. This means Linux will soon start appearing in more mission-critical devices and industrial hardware. But it took its sweet time getting here. An RTOS is a specialized operating system designed to handle time-critical tasks with precision and reliability. Unlike general-purpose operating systems like Windows or macOS, an RTOS is built to respond to events and process data within strict time constraints, often measured in milliseconds or microseconds. As Steven Rostedt, a prominent real-time Linux developer and Google engineer, put it, "Real-time is the fastest worst-case scenario." He means that the essential characteristic of an RTOS is its deterministic behavior. An RTOS guarantees that critical tasks will be completed within specified deadlines. [...]

So, why is Real-Time Linux only now completely blessed in the kernel? "We actually would not push something up unless we thought it was ready," Rostedt explained. "Almost everything was usually rewritten at least three times before it went into mainline because we had such a high bar for what would go in." In addition, the path to the mainline wasn't just about technical challenges. Politics and perception also played a role. "In the beginning, we couldn't even mention real-time," Rostedt recalled. "Everyone said, 'Oh, we don't care about real-time.'" Another problem was money. For many years funding for real-time Linux was erratic. In 2015, the Linux Foundation established the Real-Time Linux (RTL) collaborative project to coordinate efforts around mainlining PREEMPT_RT.

The final hurdle for full integration was reworking the kernel's print_k function, a critical debugging tool dating back to 1991. Torvalds was particularly protective of print_k --He wrote the original code and still uses it for debugging. However, print_k also puts a hard delay in a Linux program whenever it's called. That kind of slowdown is unacceptable in real-time systems. Rostedt explained: "Print_k has a thousand hacks to handle a thousand different situations. Whenever we modified print_k to do something, it would break one of these cases. The thing about print_k that's great about debugging is you can know exactly where you were when a process crashed. When I would be hammering the system really, really hard, and the latency was mostly around maybe 30 microseconds, and then suddenly it would jump to five milliseconds." That delay was the print_k message. After much work, many heated discussions, and several rejected proposals, a compromise was reached earlier this year. Torvalds is happy, the real-time Linux developers are happy, print_K users are happy, and, at long last, real-time Linux is real.

An anonymous reader quotes a report from Data Center Dynamics: BlackRock plans to launch a new $30 billion artificial intelligence (AI) investment fund focused on data centers and energy projects. Microsoft and Abu Dhabi-backed investment company MGX are general partners of the fund. GPU giant Nvidia will also advise. Run through BlackRock's Global Infrastructure Partners fund, which it acquired for $12.5 billion earlier this year, the 'Global AI Investment Partnership,' plans to raise up to $30 billion in equity investments. Another $70 billion could come via leveraged debt financing. "Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," said Larry Fink, chairman and CEO of BlackRock. "Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation."

Brad Smith, Microsoft's president, added: "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance. This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity."

Bayo Ogunlesi, CEO of Global Infrastructure Partners, said: "There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI. We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure."

All seven independent directors of DNA-testing company 23andMe resigned Tuesday, following a protracted negotiation with founder and Chief Executive Anne Wojcicki over her plan to take the company private. WSJ: It is the latest challenge for 23andMe, which has struggled to find a profitable business model. The stock price fell to $0.30 per share after hours on Tuesday. At that price the company is worth less than the cash on its balance sheet. In a letter addressed to Wojcicki, the directors wrote that "after months of work, we have yet to receive from you a fully financed, fully diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders."

It is very rare for a publicly traded company to see so many directors resign simultaneously. The board members wrote that they differ with Wojcicki on the "strategic direction for the company" and because of her voting power, it was best that they resign. Wojcicki controls 49% of 23andMe votes, giving her a level of control that blocked board members from shopping the company to other potential bidders. She is the only remaining board member after the resignations. Further reading: 23andMe's Fall From $6 Billion To Nearly $0 (January 2024)

Fossil fuel companies pumped at least $5.6bn of sponsorship money into motorsports, football, golf and even snow sports in an effort to "buy social licence to operate," according to a new report. From a report: Almost no major spectator sport remains untouched by oil and gas money, according to research carried out by the New Weather Institute (NWI), a climate thinktank, which traced more than 200 sponsorship deals between sports teams and the industry. In addition, sports stars such as Cristiano Ronaldo, Lionel Messi, Tyson Fury and Anthony Joshua have all been successfully recruited to spend time in the Middle East as part of sponsorship deals, the report says.

It comes as concern grows about the fossil fuel industry's increasing efforts to launder its global standing through "sportswashing" -- a practice, long used by nation states, of building associations with sporting events to improve tarnished reputations. In 2023, Mohammed bin Salman, the crown prince of Saudi Arabia, said: "If sportswashing is going to increase my GDP by 1%, then we'll continue doing sportswashing." According to NWI's Dirty Money report, Aramco, Saudi Arabia's national oil company, was the biggest single investor in sports sponsorship identified by NWI's report, handing out almost $1.3bn across 10 deals. The petrochemical company Ineos was second, with $777m in sponsorship deals; Shell had sponsored sports to the tune of $470m; and TotalEnergies, France's leading oil company, had $340m in deals.

The entertainment company behind "The Hunger Games" and "Twilight" plans to start using generative AI in the creation of its new movies and TV shows, a sign of the emerging technology's advance in Hollywood. From a report: Lions Gate Entertainment has agreed to give Runway, one of several fast-evolving AI startups, access to its content library in exchange for a new, custom AI model that the studio can use in the editing and production process.

The deal -- the first of its kind for Runway and one that could become a blueprint in the entertainment industry -- comes as creatives, actors and studio executives debate whether to use the new technology and how to protect their copyright material. Advocates say generative AI can enhance creators' work and help a cash-strapped industry save time and money. Michael Burns, vice chairman of Lionsgate Studio, expects the company to be able to save "millions and millions of dollars" from using the new model. The studio behind the "John Wick" franchise and "Megalopolis" plans to initially use the new AI tool for internal purposes like storyboarding -- laying out a series of graphics to show how a story unfolds -- and eventually creating backgrounds and special effects, like explosions, for the big screen.

The Federal Deposit Insurance Corp. on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. From a report: The rule, aimed at accounts opened by fintech firms that partner with banks, would make the institution maintain records of who owns it and the daily balances attributed to the owner, according to an FDIC memo. Fintech apps often lean on a practice where many customers' funds are pooled into a single large account at a bank, which relies on either the fintech or a third party to maintain ledgers of transactions and ownership.

That situation exposed customers to the risk that the nonbanks involved would keep shoddy or incomplete records, making it hard to determine who to pay out in the event of a failure. That's what happened in the Synapse collapse, which impacted more than 100,000 users of fintech apps including Yotta and Juno. Customers with funds in these "for benefit of" accounts have been unable to access their money since May.

An anonymous reader quotes a report from Wired: Eric and Donald Trump Jr., the sons of former president Donald Trump, have pledged to "make finance great again" with a new family-run crypto endeavor called World Liberty Financial. Introduced in a meandering livestream on X Monday, the Trump family and their associates described World Liberty Financial as a crypto platform that would let users conduct transactions without a bank sitting in the middle and extracting fees -- a concept known as decentralized finance, or DeFi. While short on details, Donald Trump, Jr. and Eric Trump both stressed repeatedly that World Liberty Financial's primary goal was to make DeFi more broadly accessible. "It's truly our job to make it understandable," said Eric Trump during the livestream. "We have to make it intuitive, we have to make it user-friendly, and we will." Former President Donald Trump joined the call as well, stressing his pro-crypto stance. "I do believe in it," said Trump of cryptocurrency generally. "It has a chance to really be something special."

The Trumps aren't alone in leading World Liberty Financial. They're joined by crypto veterans Chase Herro and Zak Folkman, as well as Steve Witkoff, a real estate investor and friend of Donald Trump's. In addition to the platform itself, World Liberty Financial will come with a governance token, WLFI, which will provide owners the right to vote "on matters of the platform." Approximately 63 percent of the tokens will be sold to the public; 17 percent are set aside for user rewards, and 20 percent will be reserved for World Liberty Financial team compensation. [...] World Liberty Financial will face steep competition in a DeFi market already crowded with similar services, among them Aave, Compound, Venus Protocol, and others. "DeFi is pretty mature, especially on the over-collateralized side," says Zach Hamilton, founder of crypto startup Sarcophagus and venture partner at VC firm Venture51. But the Trumps need not necessarily do anything novel, if they can capitalize on their mammoth public platform to peddle the new venture. "[World Liberty Financial] is launching with the most free marketing that any crypto company could ever get," says Hamilton. "Trump is the king of living rent free in people's minds." "I welcome any effort to bring DeFi into the mainstream," says Brad Harrison, CEO of Venus Protocol. "But like the autopilot in a Tesla, DeFi may give the appearance of something that's simple, but the inner workings are complex. Without a solid grasp of its nuances in the hands of seasoned technologists and financial engineers, a new platform risks being more of a branding exercise than a substantive and safe contribution to the space."