Consumers should be spending less by now. Interest rates are up. Inflation remains high. Pandemic savings have shrunk. And the labor market is cooling. Yet household spending, the primary driver of the nation's economic growth, remains robust remains robust. From a report: Americans spent 5.8% more in August than a year earlier, well outstripping less than 4% inflation. And the experience economy boomed this summer, with Delta Air Lines reporting record revenue in the second quarter and Ticketmaster selling over 295 million event tickets in the first six months of 2023, up nearly 18% year-over-year. Economists and financial advisers say consumers putting short-term needs and goals above long-term ones is normal. Still, this moment is different, they say.

A tough housing market has more consumers writing off something they'd historically save for, while the pandemic showed the instability of any long-term plans related to health, work or day-to-day life. So, they are spending on once-in-a-lifetime experiences because they worry they may not be able to do them later. "It's not a regret-filled, spur-of-the-moment decision," says Michael Liersch, who oversees a team of advisers as head of advice at Wells Fargo. "It's the opposite of that, where I would regret not having done it." Liersch cautions that it's too soon to say whether the spate of spending is a fleeting moment or a new normal. And consumers remain frustrated about inflation as the price of many goods remains significantly higher than a few years ago.

At the beginning of The Creator a narrator describes AI-powered robots that are "more human than human." From the movie site Looper: It's in reference to the novel "Do Androids Dream of Electric Sheep?" by Philip K. Dick, which was adapted into the seminal sci-fi classic, "Blade Runner." The phrase is used as the slogan for the Tyrell Corporation, which designs the androids that take on lives of their own. The saying perfectly encapsulates the themes of "Blade Runner" and, by proxy, "The Creator." If a machine of sufficient intelligence is indistinguishable from humans, then shouldn't it be considered on equal footing as humanity?
The Huffington Post calls its "the pro-AI movie we don't need right now" — but they also praise it as "one of the most astonishing sci-fi theatrical experiences this year." Variety notes the film was co-written and directed by Gareth Edwards (director of the 2014 version of Godzilla and the Star Wars prequel Rogue One), working with Oscar-winning cinematographer Greig Fraser (Dune) after the two collaborated on Rogue One. But what's unique is the way they filmed it: adding visual effects "almost improvisationally afterward.

"Achieving this meant shooting sumptuous natural landscapes in far-flung locales like Thailand or Tibet and building futuristic temples digitally in post-production..."

IndieWire gushes that "This movie looks fucking incredible. To a degree that shames most blockbusters that cost three times its budget." They call it "a sci-fi epic that should change Hollywood forever." Once audiences see how "The Creator" was shot, they'll be begging Hollywood to close the book on blockbuster cinema's ugliest and least transportive era. And once executives see how much (or how little) "The Creator" was shot for, they'll be scrambling to make good on that request as fast as they possibly can.

Say goodbye to $300 million superhero movies that have been green-screened within an inch of their lives and need to gross the GDP of Grenada just to break even, and say hello — fingers crossed — to a new age of sensibly budgeted multiplex fare that looks worlds better than most of the stuff we've been subjected to over the last 20 years while simultaneously freeing studios to spend money on the smaller features that used to keep them afloat. Can you imagine...? How ironic that such fresh hope for the future of hand-crafted multiplex entertainment should come from a film so bullish and sanguine at the thought of humanity being replaced by A.I [...]

The real reason why "The Creator" is set in Vietnam (and across large swaths of Eurasia) is so that it could be shot in Vietnam. And in Thailand. And in Cambodia, Nepal, Indonesia, and several other beautiful countries that are seldom used as backdrops for futuristic science-fiction stories like this one. This movie was born from the visual possibilities of interpolating "Star Wars"-like tech and "Blade Runner"-esque cyber-depression into primordially expressive landscapes. Greig Fraser and Oren Soffer's dusky and tactile cinematography soaks up every inch of what the Earth has to offer without any concession to motion capture suits or other CGI obstructions, which speaks to the truly revolutionary aspect of this production: Rather than edit the film around its special effects, Edwards reverse-engineered the special effects from a completed edit of his film... Instead of paying a fortune to recreate a flimsy simulacrum of our world on a computer, Edwards was able to shoot the vast majority of his movie on location at a fraction of the price, which lends "The Creator" a palpable sense of place that instantly grounds this story in an emotional truth that only its most derivative moments are able to undo... [D]etails poke holes in the porous border that runs between artifice and reality, and that has an unsurprisingly profound effect on a film so preoccupied with finding ghosts in the shell. Can a robot feel love? Do androids dream of electric sheep? At what point does programming blur into evolution...?

[T]he director has a classic eye for staging action, that he gives his movies room to breathe, and that he knows that the perfect "Kid A" needle-drop (the album, not the song) can do more for a story about the next iteration of "human" life than any of the tracks from Hans Zimmer's score... [T]here's some real cognitive dissonance to seeing a film that effectively asks us to root for a cuter version of ChatGPT. But Edwards and Weitz's script is fascinating for its take on a future in which people have programmed A.I. to maintain the compassion that our own species has lost somewhere along the way; a future in which technology might be a vessel for humanity rather than a replacement for it; a future in which computers might complement our movies rather than replace our cameras.

Yesterday the "temporary suspension" of automatic Snap registrations was announced on Canonical's Snapcraft forum by developer advocate Igor Ljubuncic, after what was described as a "security incident". On September 28, 2023, the Snap Store team was notified of a potential security incident. A number of snap users reported several recently published and potentially malicious snaps. As a consequence of these reports, the Snap Store team has immediately taken down these snaps, and they can no longer be searched or installed. Furthermore, the Snap Store team has placed a temporary manual review requirement on all new snap registrations, effectively immediately...

We apologize for any inconvenience this may cause our snap publishers and developers. However, we believe it is the most prudent action at this moment. We want to thoroughly investigate this incident without introducing any noise into the system, and more importantly, we want to make sure our users have a safe and trusted experience with the Snap Store. Please bear with us while we conduct our investigation. We will provide a more detailed update in the coming days.
Some background from the Linux blog OMG Ubuntu: This isn't the first time the Snap Store has had issues with icky uploads. In 2018 an innocuous-sounding app hid crypto-mining capabilities unbeknownst to users. Not disclosing this in its description rendered it malware (Canonical later clarified to say crypto-miners are allowed so long as they're disclosed).

In this instance it appears that folks have uploaded apps purporting to be official apps/tools for crypto ledger tool Ledger and these apps were able to get folks backups codes (which people enter thinking it's legit) and ...the bad actors can use that to extract funds.

An anonymous reader shares a report: Next time you try to wipe a smudge off your iPhone screen, take a closer look. See if you can spot one of the two tiny QR codes etched into its glass. Chances are you won't be able to find them. Both codes are tiny -- one is the size of a grain of sand and can only be seen with special equipment, while the other, roughly the size of the tip of a crayon, is laser-printed on the reverse side of the glass somewhere along its black border or bezel. The codes are placed on the glass at different stages of manufacturing to help Apple track and reduce defects. They represent the company's obsessive attention to detail in manufacturing devices such as the iPhone, which has helped it squeeze costs in a traditionally low-margin business.

"Apple has been granularly and singularly tracking many components in the iPhone for some time, but expanding that to the glass and doing it with a microscopic bar code is another level of obsessive attention to detail that few companies would do," said Kyle Wiens, CEO of iFixit, a popular Apple gadget repair site. "I've never heard of serial numbers on the glass level, but if you're throwing infinite money at improving your manufacturing knowledge, then why not?" Apple added the smaller of the two QR codes -- 0.2 mm in width -- to iPhone screens in 2020 so it can track precisely how many usable cover glass units its two Chinese suppliers, Lens Technology and Biel Crystal, are making and how many defective cover glass units they are throwing away during manufacturing. Lens and Biel have previously stymied Apple's efforts to learn the true rate of defects, which can raise its production costs. Apple has paid millions of dollars to install laser and scanning equipment at Lens and Biel factories to both add the microscopic QR code and scan the cover glass at the end of the production process.

An anonymous reader quotes a report from the Japan Times: From Oct. 1, a new tax regulation decades in the making will go into effect -- and hundreds of thousands of workers in Japan are angry. The Qualified Invoicing System, which requires taxable businesses to issue invoices containing tax information for transactions, has generated a full-fledged movement against it. A petition on Change.org to halt the regulation has received nearly 450,000 signatures. The social movement [...] has held regular demonstrations and conferences advocating against the law, alongside significant protest from the world of pop culture: Animators, filmmakers, voice actors, manga artists and V-tubers of all stripes have joined together against it.

While the law is complex, the reason it's hated is not: It's effectively a tax increase. While the system was created to ensure that businesses will properly pay consumption tax, for many freelancers and small businesses the result will amount to a 10% increase in taxes -- a high enough jump to potentially devastate creatives who already make a living by the narrowest of margins. [...] Those who have already registered as taxable businesses or sole proprietors with sales of over 10 million yen are required to register for the system. Small freelancers and tax-exempt businesses, however, will need to consider carefully what to do. "Tax compliance will be the biggest issue for freelancers," [says Fumiko Mizoguchi, indirect tax service country leader at Deloitte]. "If freelancers agree to issue qualified invoices, they should offer the counter-suggestion that their prices will increase 10% as a result."

Meanwhile, the protest movement is steady on the ground in Tokyo. Voiction, which has been meeting with legislators to try to halt the law, plans on continuing to fight through the rest of the year and beyond. [Voice actress Yuhko Kaida] explains that the government could still decide to allow small businesses to not file 2023's consumption tax in March 2024, when taxes are due. "If we have the willpower, we can stop this law," Kaida says. "Then we can reduce the damage to people's lives."

According to Bloomberg's Jason Schreier, Epic games is laying off 16 percent of its current workforce, which amounts to almost 900 employees losing their jobs. Kotaku reports: A memo was shared this morning at the North Carolina company, seen by Kotaku, informing staff of the bad news. It explains that alongside 16 percent of staff being laid off, the company is also selling Bandcamp, and "spinning off" most of marketing company SuperAwesome.

"For a while now, we've been spending way more money than we earn," says the memo, sent to staff by CEO Tim Sweeney. "I have long been optimistic we could power through this transition without layoffs, but in retrospect I see that this was unrealistic." It seems that Fortnite's failure to continue growing was part of the problem. Sweeney reports that it's "starting to grow again," but this is driven by creator content "with significant revenue sharing."

Despite efforts to reduce spending, Sweeney says "we still ended up far short of financial sustainability." These layoffs, he hopes, will "stabilize our finances." "Laid-off Epic employees will receive six months severance and health benefits," Schreier said on X, adding that an "all-hands meeting [is] happening shortly." Further reading: Apple Asks Supreme Court To Reverse App Store Ruling Won by Epic

SonicSpike shares a report: A U.S. security researcher is warning of a chilling effect after he was detained on arrival at a U.S. airport, his phone was searched, and was ordered to testify to a grand jury, only to have prosecutors reverse course and drop the investigation later. On Wednesday, Sam Curry, a security engineer at blockchain technology company Yuga Labs, said in a series of posts on X, formerly Twitter, that he was taken into secondary inspection by U.S. federal agents on September 15 after returning from a trip to Japan. Curry said agents with the Internal Revenue Service's Criminal Investigation (IRS-CI) unit and the Department of Homeland Security questioned him at Dulles International Airport in Washington DC about a "high profile phishing campaign," searched his unlocked phone, and served him with a grand jury subpoena to testify in New York the week after.

According to a photo of the subpoena that Curry posted, the grand jury was investigating wire fraud and money laundering. But Curry said he later received confirmation that the copy of his device data was deleted and the grand jury subpoena was canceled once prosecutors realized that Curry was investigating the theft of crypto, and not involved in it.

A Microsoft executive said the company has tried for years to displace Alphabet's Google as the default web browser on iPhones, but that Apple never seriously considered switching to Microsoft's Bing and was content to use it as a "bargaining chip" with the search giant. From a report: "Apple is making more money on Bing existing than Bing does," Mikhail Parakhin, the head of Microsoft's advertising and web services, testified during the US government's antitrust trial against Google in Washington. "We are always trying to convince Apple to use our search engine." Parakhin, who joined Microsoft in 2019 from Russian search engine Yandex NV, said Microsoft met with Apple as recently as 2021 to discuss a potential switch to Bing, but didn't make any progress.

In response to Google's lawyers, Parakhin said it was "uneconomical for Microsoft to invest more" in technology for the mobile search market. "Unless Microsoft gets a more significant, or firmer guarantee of distribution, it makes it uneconomical to invest." Apple has used Google as the default search engine in its Safari browser since 2003 in exchange for a share of the advertising revenue earned through searches made on its devices.

"As a result of the move to working from home, Meta has walked away from one of its offices in London at the cost of 149 million pounds," writes Slashdot reader Bruce66423. The London Evening Standard reports: Meta paid the FTSE 250 developer 149 million pounds on Monday in order to break the lease on the building, 1 Triton Square. The tech firm, which also owns Instagram, let the space from 2021 following a refurbishment but never moved into the space. Meta has three open London sites including a neighbouring building in Regent's Place, near Warren Street in central London.

Analysts at BNP Paribas Exane claimed Meta has another 18 years on its lease at the site. British Land said it will receive the one-off payment to end the lease but the agreement would also reduce its earnings per share by 0.6% over the six months to next March.

Private equity firms have been increasingly adding another layer of debt to their complex borrowing arrangements, raising concern among some investors about potential risks to the wider industry and the financial system. Bloomberg: Hit by a drought of deals and dwindling cash, some buyout firms are starting to resort to backroom financing to help meet fund commitments or enable succession planning. The loans -- backed by assets including the promise of future income -- carry interest of as much as 19%, a rate that's more akin to the charges faced by consumers rather than corporate borrowing. Even a junk-rated company in the US paid 10% on a bond recently.

Those high costs aren't deterring private equity firms and experts say demand is at an all-time high. While some of the biggest lenders -- such as Carlyle Group -- say these debts are relatively safe, others are already starting to take precautions by adding covenants that enable seizure of other underlying fund assets, highlighting worries about possible losses. Some are warning of perils when a firm faces claims from more than one type of loan simultaneously. "If the value of the fund drops, for example, you're looking at a margin call situation," said Jason Meklinsky, chief revenue and strategy officer at Socium Fund Services, a New Jersey-based firm that helps administer PE portfolios. "It would be like a volcano meets a tornado." For an industry long used to easy money, the rush for such loans marks a reversal in fortune. Buyout firms have been battling rising interest rates and economic uncertainty, forcing takeover volumes to almost halve this year. Cash on hand at PEs is near the lowest since at least 2008, according to data from PitchBook.

Delta Air Lines earlier this month revamped its SkyMiles program to prioritize dollars spent over miles flown for status. This shift positions SkyMiles more as a program for high spenders than frequent flyers, causing dissatisfaction among many, including industry insiders.

Historically, airline regulations, controlled by the government, ensured fair pricing until deregulation in 1978. This deregulation spurred airlines to introduce competitive strategies, transforming frequent-flyer programs into intricate points systems. These programs now, a piece in The Atlantic argues, closely resemble financial systems, with airlines minting and selling points for profit. From the report: Here's how the system works now: Airlines create points out of nothing and sell them for real money to banks with co-branded credit cards. The banks award points to cardholders for spending, and both the banks and credit-card companies make money off the swipe fees from the use of the card. Cardholders can redeem points for flights, as well as other goods and services sold through the airlines' proprietary e-commerce portals.

For the airlines, this is a great deal. They incur no costs from points until they are redeemed -- or ever, if the points are forgotten. This setup has made loyalty programs highly lucrative. Consumers now charge nearly 1 percent of U.S. GDP to Delta's American Express credit cards alone. A 2020 analysis by the Financial Times found that Wall Street lenders valued the major airlines' mileage programs more highly than the airlines themselves. United's MileagePlus program, for example, was valued at $22 billion, while the company's market cap at the time was only $10.6 billion.

Is this a good deal for the American consumer? That's a trickier question. Paying for a flight or a hotel room with points may feel like a free bonus, but because credit-card-swipe fees increase prices across the economy -- Visa or Mastercard takes a cut of every sale -- redeeming points is more like getting a little kickback. Certainly the system is bad for Americans who don't have points-earning cards. They pay higher prices on ordinary goods and services but don't get the points, effectively subsidizing the perks of card users, who tend to be wealthier already.

Reddit announced a contributor program on Monday, which awards users actual, real money for their fake internet points. From a report: Now, eligible users will be able to convert their Reddit gold and karma into fiat currency (no, not crypto), which is dispersed once per month. So far, the Reddit contributor program is limited to users in the United States (to start, at least) who are over the age of 18 and can verify their identity via Persona and Stripe. Accounts must have existed for over 30 days, and only safe for work posts can be monetized.

The founder of the data-breach notification site Have I Been Pwned manages "the largest known repository of stolen data on the planet," reports Australia's public broadcaster ABC, including over 6 billion email address. Yet with no employees, Troy Hunt manages all of the technical and operational aspects single-handedly, and "has ended up playing an oddly central role in global cybersecurity." Troy is very careful with how he handles what he finds. He only collects (and encrypts) the mobile numbers, emails and passwords that he finds in the breaches, discarding the victims' names, physical addresses, bank details and other sensitive information. The idea is to let users find out where their data has been leaked from, but without exposing them to further risk. Once he identifies where a data breach has occurred, Troy also contacts the organisation responsible to allow it to inform its users before he does. This, he says, is often the hardest step of the process because he has to convince them it's legitimate and not some kind of scam itself.

He's not required to give organisations this opportunity, much less persist when they ignore his messages or accuse him of trying to shake them down for money. But there's evidence that this approach is working. Despite the legal grey area he has operated in for a decade now, he's avoided being sued by any of the organisations responsible for the 705 breaches that are now searchable on Have I Been Pwned. These days, major tech companies like Mozilla and 1Password use Have I Been Pwned, and Troy likes to point out that dozens of national governments and law enforcement agencies also partner with his service...

"He's not a company that's audited. He's just a dude on the web," says Jane Andrew, an expert on data breaches at the University of Sydney. "I think it's so shocking that this is where we find out information about ourselves. She says governments and law enforcement have, in general, left it to individuals to deal with the fallout from data breaches... Without an effective global regulator, Professor Andrew says, a crucial part of the world's cybersecurity infrastructure is left to rely on the goodwill of this one man on the Gold Coast.
Thanks to long-time Slashdot reader slincolne for sharing the article.

Long-time Slashdot reader 140Mandak262Jamuna shared this article from the Washington Post: There is a theoretical, magic tipping point for adoption of electric vehicles. Once somewhere between 5 and 10 percent of new car sales are all-electric, some researchers say, huge numbers of drivers will follow. They predict that electric car sales will then soar — to 25 percent, 50 percent and eventually to close to 80 percent of new sales. Early adopters who love shiny new technologies will be replaced by mainstream consumers just looking for a good deal. Last year, the United States finally passed that elusive mark — 5 percent of all new cars sold in the fourth quarter were fully electric. And earlier this year, all-electric vehicles made up about 7 percent of new car sales...

If the pattern holds, the United States should start to see rapid growth in the next few years. And automakers have gone all-in on the transition. As of early 2023, U.S.-based car companies have announced about $173 billion in spending to shift to electric vehicles. Volkswagen, Ford, BMW, General Motors, and many more car companies are all making electric cars. There are more than 40 all-electric models on offer in the United States.
The article points out that in Norway, more than 80% of cars purchased are now fully electric.

For comparision, in the first half of 2023 in California, about 25% of new-car purchases were electric vehicles.

Six months ago Republican Senator Josh Hawley proposed legislation banning downloads of TikTok in the U.S. But this week he told the Wall Street Journal that "TikTok and its dark-money cronies are spending vast amounts of money to kill these bills."

The newspaper argues that TikTok's "friends" in the U.S. government — backed by billionaire financier Jeff Yass — "helped stall attempts to outlaw America's most-downloaded app." Yass's investment company, Susquehanna International Group, bet big on TikTok in 2012, buying a stake in parent company ByteDance now measured at about 15%. That translates into a personal stake for Yass of 7% in ByteDance. It is worth roughly $21 billion based on the company's recent valuation, or much of his $28 billion net worth as gauged by Bloomberg.

Yass is also one of the top donors to the Club for Growth, an influential conservative group that rallied Republican opposition to a TikTok ban. Yass has donated $61 million to the Club for Growth's political-spending arm since 2010, or about 24% of its total, according to federal records. Club for Growth made public its opposition to banning TikTok in March, in an opinion article by its president, at a time when sentiment against the platform among segments of both parties was running high on Capitol Hill... With many Democrats already skeptical of a ban, the whittling away of Republican support killed momentum for several bills, including the bipartisan Restrict Act backed by the Biden administration...

TikTok's own lobbying efforts in Washington have included hundreds of meetings and other contacts, according to a person familiar with the matter. One of its main arguments to Republicans has been that a majority of ByteDance's shareholders are Americans, and some are well-connected conservatives, this person said. The lobbying appears to have helped push House Republican lawmakers to back away from the idea of a ban on TikTok and focus instead on legislation that would put new legal protections in place for users' personal data...

The Biden administration hasn't indicated any change in its effort to ban the app or force its sale. It could still try to use executive powers to ban it, or force a sale to remove Chinese control. But without legislation, analysts say those orders could be overturned in court.

Recent breaches of MGM's casino systems "were probably carried out by teens and young adults who have allied themselves with one of the world's most notorious ransomware gangs," writes the Washington Post's technology reporter.

Their alliance with the "Scattered Spider" group is described as "part of a trend that has alarmed security experts and defenders of corporate computer networks." The group is said to be "very active in the past two years, targeting large companies via stolen employee credentials and tricks such as convincing tech support employees that they have been accidentally locked out of their computers and need a new password." They moved from cryptocurrency thefts to targeting businesses that provide third-party business functions such as help desks and call center staffing, allowing them to infiltrate networks of many customers. And they extorted Western Digital and other technology firms after stealing internal data before heading for the jackpots in Las Vegas. But their willingness to deploy crippling ransomware while demanding money is a major escalation, as is their choice of a business partner: ALPHV, a hacking group whose affiliates include members of the former Russian powerhouses BlackMatter and DarkSide, the groups responsible for the Colonial Pipeline hack that awoke Washington to the national security risk of ransomware. ALPHV provided the BlackCat ransomware that the young hackers installed in the casinos' systems...

[According to new research presented Friday at the LABScon security conference] they came together through crimes enabled by SIM-swapping, which usually involves convincing phone company employees to hand over control of someone else's phone number. Because of poor security controls around those numbers, such gambits have allowed criminals to amass millions of dollars by beating SMS text-based two-factor authentication on cryptocurrency accounts. The extra money has made alliances possible with criminals who have different skills to bring to the table, including some who had hacked police servers and could send emails from purported officers demanding emergency disclosures of information on phone and internet customers. Worse, the researchers said, they have now attracted recruiters for the Russian gangs who want to combine their business savvy with the techniques and local knowledge of the native English speakers.

The White House is considering requiring cloud computing firms to report some information about their customers to the U.S. government, Semafor reported Friday, citing people familiar with an upcoming executive order on AI. From the report: The provision would direct the Commerce Department to write rules forcing cloud companies like Microsoft, Google, and Amazon to disclose when a customer purchases computing resources beyond a certain threshold. The order hasn't been finalized and specifics of it could still change. Similar "know-your-customer" policies already exist in the banking sector to prevent money laundering and other illegal activities, such as the law mandating firms to report cash transactions exceeding $10,000.

In this case, the rules are intended to create a system that would allow the U.S. government to identify potential AI threats ahead of time, particularly those coming from entities in foreign countries. If a company in the Middle East began building a powerful large language model using Amazon Web Services, for example, the reporting requirement would theoretically give American authorities an early warning about it. The policy proposal represents a potential step toward treating computing power -- or the technical capacity AI systems need to perform tasks -- like a national resource. Mining Bitcoin, developing video games, and running AI models like ChatGPT all require large amounts of compute.

An anonymous reader shares a news story: A report by dappGambl based on data provided by NFT Scan and CoinMarketCap showed that out of 73,257 NFT collections the researchers looked at, 69,795 of them, or slightly over 95%, had a market cap of zero ether. By their estimates, almost 23 million people hold these worthless assets. "This daunting reality should serve as a sobering check on the euphoria that has often surrounded the NFT space," the researchers said. "Amid stories of digital art pieces selling for millions and overnight success stories, it is easy to overlook the fact that the market is fraught with pitfalls and potential losses."

NFTs are digital representations of art or collectibles tied to a blockchain, typically ethereum, and each one has a unique signature that cannot be duplicated. In 2021 and 2022, the NFT market saw a huge bull run, at one point leading to $2.8 billion in monthly trading volume. During that time, popular collections such as Bored Apes and CryptoPunks were selling for millions of dollars, and celebrities such as Stephen Curry and Snoop Dogg participated in the hype. The boom coincided with cryptocurrency's peak when bitcoin was trading close to $70,000. On Wednesday, the price of the crypto hovered just above $27,000. dappGambl's study shows 79% of all NFT collections currently remain unsold, and the surplus of supply over demand has created a buyer's market that isn't doing anything to revive enthusiasm.

European governments have "systematically" shrunk their railways and starved them of funding while pouring money into expanding their road network, a report has found. The Guardian: The length of motorways in Europe grew 60% between 1995 and 2020 while railways shrank 6.5%, according to research from the German thinktanks Wuppertal Institute and T3 Transportation. For every $1 governments spent building railways, they spent $1.7 building roads. "This is a political choice," said Lorelei Limousin, a climate campaigner with Greenpeace, which commissioned the report. "We see the consequences today with the climate, but also with people who have been left without an alternative solution to cars."

The report found the EU, Norway, Switzerland and the UK spent $1.6tn between 1995 and 2018 to extend their roads -- but just $0.99tn to extend their rail networks. In the four years that followed (2018-21), the average gap in investment in rail and road decreased from 66% to 34%. During that time, seven countries invested more in rail than roads -- Austria, Belgium, Denmark, France, Italy, Luxembourg and the UK -- while the rest spent more on roads than rail.

Saturday the San Francisco Chronicle published a joint opinion piece from MIT professor Carlo Ratti (who directs an MIT digital lab exploring the collection of digital data about urban life) and John Rossant (founder of the collaborative data-sharing platform CoMotion).

Together they penned a warning about a future filled with robotaxis. "Their convenience could seduce us into vastly overusing our cars. The result? An artificial-intelligence-powered nightmare of traffic, technically perfect but awful for our cities." Why do we believe this? Because it has already come to pass with ride-sharing. In the 2010s, the Senseable City Lab at the Massachusetts Institute of Technology, where one of us serves as the director, was at the forefront of using Big Data to study how ride-hailing and ride-sharing could make our streets cleaner and more efficient. The findings appeared to be astonishing: With minimal delays to passengers, we could match riders and reduce the size of New York City taxi fleets by 40%. More people could get around in fewer cars for less money. We could reduce car ownership, and free up curbs and parking lots for new uses. This utopian vision was not only compelling but within reach.

After publishing our results, we started the first collaboration between MIT and Uber to research a then-new product: Uber Pool (now rebranded UberX Share), a service that allows riders to share cars when heading to similar destinations for a lower cost. Alas, there is no such thing as a free lunch. Our research was technically right, but we had not taken into account changes in human behavior. Cars are more convenient and comfortable than walking, buses and subways — and that is why they are so popular. Make them even cheaper through ride-sharing and people are coaxed away from those other forms of transit. This dynamic became clear in the data a few years later: On average, ride-hailing trips generated far more traffic and 69% more carbon dioxide than the trips they displaced. We were proud of our contribution to ride-sharing but dismayed to see the results of a 2018 study that found that Uber Pool was so cheap it increased overall city travel: For every mile of personal driving it removed, it added 2.6 miles of people who otherwise would have taken another mode of transportation.

As robotaxis are on the cusp of proliferating across the world, we are about to repeat the same mistake, but at a far greater scale... [W]e cannot let a shiny new piece of technology drive us into an epic traffic jam of our own making. The best way to make urban mobility accessible, efficient and green is not about new technologies — neither self-driving cars nor electric ones — but old ones. Buses, subways, bikes and our own two feet are cleaner, cheaper and more efficient than anything Silicon Valley has dreamt up... Autonomous technology could, for example, allow cities to offer more buses, shuttles and other forms of public transit around the clock. That's because the availability of on-demand AVs could assure "last-mile" connections between homes and transit stops. It could also be a godsend for older people and those with disabilities. However, any scale-up of AVs should be counterbalanced with investments in mass transit and improvements in walkability.

Above all, we must put in place smart regulatory and tax regimes that allow all sustainable mobility modes — including autonomous services — to scale safely and intelligently. They should include, for example, congestion fees to discourage overuse of individual vehicles.