According to Bloomberg (paywalled), OpenAI is in early talks to raise a fresh round of funding at a valuation at or above $100 billion. Reuters reports: The terms, valuation and timing of the funding round have not yet been finalized and could still change, the report added. OpenAI has also held discussions to raise funding for a new chip venture with Abu Dhabi-based G42, according to the report. If the valuation holds, the report notes that it would make OpenAI the second-most valuable U.S. startup behind Elon Musk's SpaceX.

Banks lend your deposits to carbon-heavy industries, fueling climate change; savings of $1,000 create emissions equal to a New York-Seattle flight, reveals a new analysis. Wired: By switching to a climate-conscious bank, you could reduce those emissions by about 75 percent, the study found. In fact, if you moved $8,000 dollars -- the median balance for US customers -- the reduction in your indirect emissions would be twice that of the direct emissions you'd avoid if you switched to a vegetarian diet. [...] The new report finds that on average, 11 of the largest US banks lend 19.4 percent of their portfolios to carbon-intensive industries. To be very clear: Oil, gas, and coal companies wouldn't be able to keep producing these fuels -- when humanity needs to be reducing carbon emissions dramatically and rapidly -- without these loans. New fossil fuel projects aren't simply fleeting endeavors, but will operate for years, locking in a certain amount of emissions going forward.

Marina Temkin, writing at PitchBook: Boston-based OpenView stunned the VC world with news in early December that it laid off most of its employees and would stop all new investments months after raising its $570 million seventh fund. The 17-year-old firm, which managed $2.4 billion, was too prominent to keep its closure under wraps. But OpenView was far from the only investor that stopped backing startups this year.

The number of active investors in US VC, which we defined as making two or more deals, plummeted by 38% in the first three quarters of 2023 compared to the same period last year, according to PitchBook data. That translates to 2,725 fewer firms making deals. The decline in active investors is far higher than the 28% decrease in deal count during the period, the Q3 2023 PitchBook-NVCA Venture Monitor shows. The data indicates that investors are not merely writing fewer checks. Some dealmakers may have run out of funds and could be deemed zombie funds. Others, such as crossover investors, may have stopped allocating to the VC asset class.

An anonymous reader quotes a report from Ars Technica: It's no secret that TV makers are seriously invested in pushing ads. Using TVs for advertising goes back to 1941 when the first TV commercial aired. But as we trudge our way through the 21st century, TV vendors are becoming more involved in ensuring that their hardware is used to sell stuff and add to their own recurring revenue. This has taken various forms, but in some cases, we're seeing increasingly invasive strategies for turning TVs into a primary place for shopping. The latest approach catching attention comes from the startup Displace. Its upcoming TVs will use integrated webcams and NFC payment readers to make it easy for people to buy stuff they see on TV. [...]

The two new TVs Displace is adding to its 2024 release plans, the Displace Flex and Displace Mini, are all about making TV shopping better. According to Displace's announcement, the Displace Flex (a 55-inch 4K OLED TV) and Displace Mini (a 27-inch 4K OLED TV) will use proprietary gesture technology and each TV's integrated 4K camera to tell when a user is raising their hand. It's unclear how accurate that will be (could the shopping experience accidentally be activated if I raised my hand to tie my hair up, for example?), but at that point, the TV is supposed to pause the content being played. Then, it uses computer vision to "analyze the screen to find products available for sale. Once they see something they want to purchase, viewers drag and drop the product into the global Displace Shopping Cart," the announcement says. Displace Shopping will work at any moment the TV is on, and users can buy stuff they see in commercials by using the TVs.

Displace's December 14 announcement said: "As soon as the viewer is ready to checkout, Displace Payments makes paying as easy as bringing a user's smartphone or watch near the TV's built-in NFC payment reader, a fully secure process that requires no credit card info. Viewers can also pay from within the Displace app." If the TV can't find a specific product for sale, it will "search for similar items" without user intervention, according to Displace. The TV will show products from any available online retailers, allowing users to select where they want to make their purchase. Displace hasn't provided full details about how it will make money off these transactions, but when reached for comment, founder and CEO Balaji Krishnan told Ars Technica that Displace has "different business models, and one of them is to take a transaction fee," and that Displace will share more details "later." Displace also sees people using Displace Payments to pay for telehealth applications and equipped the Flex and Mini with thermal cameras. To ease privacy concerns, Krishnan says the integrated cameras can be folded into the TVs if a user needs privacy.

Eventually, Displace sees itself working with content publishers to lay its shopping UI over actively playing content. "Users would see a workable buy button right on top of the playing video," adds Ars.

Binance will pay $2.7 billion to the Commodity Futures Trading Commission (CFTC) for evading federal law and operating an illegal derivatives exchange. Meanwhile, the cryptocurrency exchange's founder, Changpeng "CZ" Zhao, will pay $150 million.

"The court finds Zhao and Binance violated the Commodity Exchange Act (CEA) and CFTC regulations, imposes a $150 million civil monetary penalty personally against Zhao, and requires Binance to disgorge $1.35 billion of ill-gotten transaction fees and pay a $1.35 billion penalty to the CFTC," wrote the CFTC in a statement. CoinTelegraph reports: The approved settlement marks the conclusion of a long-running case against CZ and Binance by the CFTC. On Nov. 21, CZ agreed to step down from his role at the helm of Binance as part of a wider settlement with the U.S. Department of Justice, the Treasury Department and the CFTC. On the same day, Zhao pleaded guilty to several civil charges and one criminal charge relating to Anti-Money Laundering laws. On Dec. 7, CZ was ordered to remain in the U.S. until his Feb. 23, 2024 sentencing date. He faces up to 18 months in prison on money laundering charges and has agreed not to appeal any potential sentence up to that length.

As part of the settlement, both CZ and Binance have agreed to take further steps to ensure Know Your Customer measures are maintained on the exchange as well as requiring Binance to implement a formalized corporate governance structure, including a board of directors with independent members, a compliance committee and an audit committee. The court also made a separate order for Binance's former chief compliance officer, Samuel Lim, to pay a $1.5 million civil monetary penalty for "aiding and abetting Binance's violations and engaging in activities outside of the U. S. to willfully evade or attempt to evade U.S. law."

An anonymous reader quotes a report from TechCrunch: Trevor Milton, the disgraced founder and former CEO of electric truck startup Nikola, was sentenced Monday to four years in prison for securities fraud. The sentence, by Judge Edgardo Ramos in the U.S. District Court in Manhattan, caps a multi-year saga that at one point sent Nikola stock soaring 83% only to come crashing down months later over accusations of fraud and canceled contracts. The sentencing hearing comes after four separate delays, during which Milton has remained free under a $100 million bond.

In his ruling, Ramos said he would impose a sentence of 48 months on each count, served concurrently, and a fine of $1 million. Milton is expected to appeal the sentence, which Ramos acknowledged. Milton sobbed as he pled with Judge Ramos for leniency in a long and often confusing statement ahead of the sentencing. At one point, Milton said he stepped down from the CEO post at Nikola not because of fraud allegations, but to support his wife. "I stepped down because my wife was suffering live threatening sickness," he said in his statement, which reporter Matthew Russell Lee of Inner City Press shared on social media post X. She suffered medical malpractice, someone else's plasma. So I stepped down for that -- not because I was a fraud. The truth matters. I chose my wife over money or power."

During the sentencing hearing, defense attorneys said that Milton wasn't trying to defraud investors or intending to harm anyone. Instead, they argued he simply wanted to be loved and praised like Elon Musk. Prosecutors pushed back and said he lied repeatedly and targeted retail investors. Federal prosecutors recommended an 11-year sentence, but Milton faced a maximum term of 60 years in prison. The government also sought a $5 million fine, forfeiture of a ranch in Utah and an undetermined amount of restitution to investors. Restitution will be determined after Monday's sentencing hearing. Timeline of events:

June, 2016: Nikola Motor Receives Over 7,000 Preorders Worth Over $2.3 Billion For Its Electric Truck
December, 2016: Nikola Motor Company Reveals Hydrogen Fuel Cell Truck With Range of 1,200 Miles
February, 2020: Nikola Motors Unveils Hybrid Fuel-Cell Concept Truck With 600-Mile Range
June, 2020: Nikola Founder Exaggerated the Capability of His Debut Truck
September, 2020: Nikola Motors Accused of Massive Fraud, Ocean of Lies
September, 2020: Nikola Admits Prototype Was Rolling Downhill In Promo Video
September, 2020: Nikola Founder Trevor Milton Steps Down as Chairman in Battle With Short Seller
October, 2020: Nikola Stock Falls 14 Percent After CEO Downplays Badger Truck Plans
November, 2020: Nikola Stock Plunges As Company Cancels Badger Pickup Truck
July, 2021: Nikola Founder Trevor Milton Indicted on Three Counts of Fraud
December, 2021: EV Startup Nikola Agrees To $125 Million Settlement
September, 2022: Nikola Founder Lied To Investors About Tech, Prosecutor Says in Fraud Trial

An anonymous reader shared this report from CNN: "(The rocks) in the box right now are about 1,600 degrees Celsius," Andrew Ponec said, standing next to a thermal battery the size of a small building. That is nearly 3,000 degrees Fahrenheit, "Hotter than the melting point of steel," he explained.

But what makes his box of white-hot rocks so significant is they were not heated by burning tons of coal or gas, but by catching sunlight with the thousands of photovoltaic solar panels that surround his prototype west of Fresno. If successful, Ponec and his start-up Antora Energy could be part of a new, multi-trillion-dollar energy storage sector that simply uses sun or wind to make boxes of rocks hot enough to run the world's biggest factories. "People sometimes feel like they're insulting us by saying, 'Hey, that sounds really simple," Ponec laughed. "And we say, 'No, that's exactly the point'... The problem is you can't shut down your factory when the sun goes behind a cloud or the wind stops blowing, and that's exactly the problem that we focused on."

While the word "battery" most likely evokes the chemical kind found in cars and electronics in 2023, hot rocks currently store ten times as much energy as lithium ion around the world, thanks to an invention from the 1800s known as Cowper stoves. Often found in smelting plants, these massive towers of stacked bricks absorb the wasted heat of a blast furnace until it heats to nearly 3,000 degrees Fahrenheit, and then provides over 100 megawatts of heat energy for about 20 minutes. The process can be repeated 24 times a day for 30 years, and Antora is among the startups experimenting with different kinds of rocks in insulated boxes or molten salt in cylinders to find the most efficient combination...

Antora has managed to raise $80 million in seed money from investors that include Bill Gates, but their main competitor is another Bay Area startup called Rondo that uses abundant refractory brick, which is cheaper than carbon by weight but not as energy dense. Rondo has attracted even more funding than Antora and its first battery is producing commercial power for an ethanol plant in California... Tesla recently predicted a carbon-free world will need an astonishing 240 terawatt-hours of energy storage — more than 340 times the amount of storage built with lithium-ion batteries in 2022. Rondo CEO John O'Donnell predicts more than half of all that new capacity will come in the form of heat batteries, simply because the raw ingredients are so readily available.

By plugging their factories into as many thermal batteries as they need, manufacturers won't have to wait in a years-long line for grid connections and upgrades.
Ponec tells CNN that when it comes to de-carbonizing today, "we have the tools we need. We just need to deploy them.

"The transition is inevitable. It's going to happen. And if you talk behind closed doors to most of the people in the fossil fuel industry, they'll say the same thing."

MIT Technology Review reports that OpenAI "has announced the first results from its superalignment team, the firm's in-house initiative dedicated to preventing a superintelligence — a hypothetical future computer that can outsmart humans — from going rogue." Unlike many of the company's announcements, this heralds no big breakthrough. In a low-key research paper, the team describes a technique that lets a less powerful large language model supervise a more powerful one — and suggests that this might be a small step toward figuring out how humans might supervise superhuman machines....

Many researchers still question whether machines will ever match human intelligence, let alone outmatch it. OpenAI's team takes machines' eventual superiority as given. "AI progress in the last few years has been just extraordinarily rapid," says Leopold Aschenbrenner, a researcher on the superalignment team. "We've been crushing all the benchmarks, and that progress is continuing unabated." For Aschenbrenner and others at the company, models with human-like abilities are just around the corner. "But it won't stop there," he says. "We're going to have superhuman models, models that are much smarter than us. And that presents fundamental new technical challenges."

In July, Sutskever and fellow OpenAI scientist Jan Leike set up the superalignment team to address those challenges. "I'm doing it for my own self-interest," Sutskever told MIT Technology Review in September. "It's obviously important that any superintelligence anyone builds does not go rogue. Obviously...."

Instead of looking at how humans could supervise superhuman machines, they looked at how GPT-2, a model that OpenAI released five years ago, could supervise GPT-4, OpenAI's latest and most powerful model. "If you can do that, it might be evidence that you can use similar techniques to have humans supervise superhuman models," says Collin Burns, another researcher on the superalignment team... The results were mixed. The team measured the gap in performance between GPT-4 trained on GPT-2's best guesses and GPT-4 trained on correct answers. They found that GPT-4 trained by GPT-2 performed 20% to 70% better than GPT-2 on the language tasks but did less well on the chess puzzles.... They conclude that the approach is promising but needs more work...

Alongside this research update, the company announced a new $10 million money pot that it plans to use to fund people working on superalignment. It will offer grants of up to $2 million to university labs, nonprofits, and individual researchers and one-year fellowships of $150,000 to graduate students.

Bill McGuire is professor emeritus of climate hazards at University College London. He also writes on CNN that it's "essential" to laugh in the face of the climate crisis: If you don't laugh, you will cry, and that marks the beginning of a very slippery slope. As civilization faces a threat that dwarfs that of every war ever fought combined, and the outcome of the latest climate COP offers little hope, it's something we need — not only to remember — but to actively adopt as a weapon in our armoury to fight for a better future for our children and their children. They say that laughter is the best medicine, but weaponised comedy has the potential to do more than just make us feel good. Not only can it help inform and educate about global heating and the climate breakdown it is driving, but also to encourage and bolster action...

This is why ventures like "Climate Science Translated," which I took part in earlier this year, are so important. The British-based project — brainchild of ethical insurer Nick Oldridge and the climate communications outfit Utopia Bureau — teams climate scientists up with comedians, who 'translate' the science into bite-sized, funny and pretty irreverent chunks that can be understood, digested and appreciated by anyone.
You can see four of the videos on their web site. "Climate science is complicated," each video begins. "So we're translating it into human."

For example, last month Dr. Friederike Otto, senior lecturer on climate science at London's Imperial College, created a new video with comedian Nish Kumar: Dr. Otto: Human-caused climate change is fundamentally changing the fabric of the weather as we know it. It's leading to events which we've simply never seen before.

Comedian Kumar: Translation: Weather used to be clouds. Now we've made it into a sort of Rottweiler on steroids that wants to chew everyone's head off.

Dr. Otto: The continuing increase in global average temperature is already causing higher probabilities of extreme rainfall and flash flooding, as well more intense storms, prolonged droughts, record-breaking heatwaves, and wildfires.

Kumar: Very soon climate scientists are just going to ditch their graphs and point out the window with an expression that says, "I fucking told you!"

Dr. Otto: This is not a problem just for our children and grandchildren. This is an immediate threat to all our lives.

Kumar: I don't know if you're familiar with the film The Terminator, but if someone came from the future to warn us of this threat, they'd have travelled from next Wednesday.
And three weeks ago a follow-up video came from earth systems science professor Mark Maslin from London's University College, teaming up with comedian Jo Brand: Professor Maslin: We are heading for unknown territory if we trigger tipping points — irreversible threshholds which shift our entire ecosystem into a different state.

Comedian Brand: If you liked climate crisis, you're going to love climate complete fucking collapse...

Professor Maslin: The irony is solar and wind power are now over 10 times cheaper than oil and gas. We can still prevent much of the damage, and end up in a better place for everyone.

Brand: With wind and sun power, we save money, and don't die. It's a pretty strong selling point.

Professor Maslin: Most people actually are in favor of urgent action. The reason governments are not transitioning fast enough is because the fossil fuel industry has a grip on many politicians. In fact, governments subsidize them with our taxpayer money — over $1 trillion a year, according to the IMF.

Brand: We are paying a bunch of rich dudes one trillion dollars a year to fuck up our future. I'd do it for that money. When can I start?
Each video ends with the words "All Hands On Deck Now", urging action by voting, contacting your representative, joining a local group, and protesting.

Climate hazard professor Bill McGuire writes on CNN that he hopes to see a growing movement: As Kiri Pritchard-McLean pointedly observes: "If comedians are helping scientists out, you know things aren't going well...." There is even a "Sustainable Stand-up" course aimed at teaching comedy beginners about how climate and social issues can be addressed in their shows, and which has run in 11 countries.

Soon after payment-processing giant Wirecard reported in June 2020 that nearly $2 billion had gone missing from its balance sheet, its chief operating officer Jan Marsalek boarded a private jet out of Austria. After a landing in Belarus, he was whisked by car to Moscow, where he got a Russian passport under an assumed name. Western intelligence and security officials now say they have reached the unsettling conclusion that Marsalek had likely been a Russian agent for nearly a decade. From a report: Marsalek already stands accused of stealing hundreds of millions of dollars from investors. Following multiple international investigations, officials from intelligence, police and judiciary agencies in several countries now say the 43-year-old native of Austria used his defunct payments company to illegally help Russian spy agencies move money to fund covert operations around the world.

One of the most wanted men in the world, Marsalek has also provided assistance to the mercenary organization of Yevgeny Prigozhin, the late Russian warlord, and is now involved in the reconfiguration of his business empire in Africa on behalf of Russian officials from his new domicile in Dubai, according to Western intelligence. Wirecard got its start processing payments for pornography websites on its way to becoming an Internet finance behemoth. During its heyday, the company claimed to process $140 billion of transactions a year on behalf of a quarter million businesses, making it a rival of Square and PayPal. It was briefly valued at more than any German bank. Former associates remember Marsalek as a bon vivant who at one point rented a Munich mansion for 35,000 euros, or $38,000, a month. He was making millions of dollars a year in salary and crisscrossing the globe in private jets. He was also obsessed with the cloak-and-dagger world of espionage, often intimating that he had connections with intelligence officers, they say -- claims many dismissed as bluster.

Adobe said US regulators are probing the company's cancellation rules for software subscriptions, an issue that has long been a source of ire for customers. From a report: The company has been cooperating with the Federal Trade Commission on a civil investigation of the issue since June 2022, Adobe said Wednesday in a filing. A settlement could involve "significant monetary costs or penalties," the company said.

Users of Adobe programs including Photoshop and Premiere have long complained about the expense of canceling a subscription, which can cost more than $700 annually for individuals. Subscribers must cancel within two weeks of buying a subscription to receive a full refund; otherwise, they incur a prorated penalty. Some other digital services such as Spotify and Netflix don't charge a cancellation fee. Digital subscriptions have been a recent focus for the FTC. It proposed a rule in March that consumers must be able to cancel subscriptions as easily as they sign up for them.

"Too often, companies make it difficult to unsubscribe from a service, wasting Americans' time and money on things they may not want or need," President Joe Biden said in a social media post at the time. Adobe said the FTC alerted the company in November that commission staff say "they had the authority to enter into consent negotiations to determine if a settlement regarding their investigation of these issues could be reached. We believe our practices comply with the law and are currently engaging in discussion with FTC staff."

An anonymous reader quotes a report from TorrentFreak: Members of the Science Fiction and Fantasy Writers Association have no trouble envisioning an AI-centered future, but developments over the past year are reason for concern. The association takes offense when AI models exploit the generosity of science fiction writers, who share their work without DRM and free of charge. [...] Over the past few months, we have seen a variety of copyright lawsuits, many of which were filed by writers. These cases target ChatGPT's OpenAI but other platforms are targeted as well. A key allegation in these complaints is that the AI was trained using pirated books. For example, several authors have just filed an amended complaint against Meta, alleging that the company continued to train its AI on pirated books despite concerns from its own legal team. This clash between AI and copyright piqued the interest of the U.S. Copyright Office which launched an inquiry asking the public for input. With more than 10,000 responses, it is clear that the topic is close to the hearts of many people. It's impossible to summarize all opinions without AI assistance, but one submission stood out to us in particular; it encourages the free sharing of books while recommending that AI tools shouldn't be allowed to exploit this generosity for free.

The submission was filed by the Science Fiction and Fantasy Writers Association (SFWA), which represents over 2,500 published writers. The association is particularly concerned with the suggestion that its members' works can be used for AI training under a fair use exception. SFWA sides with many other rightsholders, concluding that pirated books shouldn't be used for AI training, adding that the same applies to books that are freely shared by many Science Fiction and Fantasy writers. [...] Many of the authors strongly believe that freely sharing stories is a good thing that enriches mankind, but that doesn't automatically mean that AI has the same privilege if the output is destined for commercial activities. The SFWA stresses that it doesn't take offense when AI tools use the works of its members for non-commercial purposes, such as research and scholarship. However, turning the data into a commercial tool goes too far.

AI freeloading will lead to unfair competition and cause harm to licensing markets, the writers warn. The developers of the AI tools have attempted to tone down these concerns but the SFWA is not convinced. [...] The writers want to protect their rights but they don't believe in the extremely restrictive position of some other copyright holders. They don't subscribe to the idea that people will no longer buy books because they can get the same information from an AI tool, for example. However, authors deserve some form of compensation. SFWA argues that all stakeholders should ultimately get together to come up with a plan that works for everyone. This means fair compensation and protection for authors, without making it financially unviable for AI to flourish. "Questions of 'how' and 'when' and 'how much money' all come later; first and foremost the author must have the right to say how their work is used," their submission reads.

"So long as authors retain the right to say 'no' we believe that equitable solutions to the thorny problems of licensing, scale, and market harm can be found. But that right remains the cornerstone, and we insist upon it," SFWA concludes.

Despite being valued at $86 billion by private investors, OpenAI reported $44,485 in revenue in 2022, almost entirely from investment income. CNBC reports: That's from the nonprofit parent's 990 filing with the Internal Revenue Service, a form that has to be filled out by organizations wishing to maintain their tax-exempt status. Federal standards don't require audited financial statements from nonprofits. In its home state of California, OpenAI was able to avoid submitting audited financials for 2022 because the foundation's stated revenue was below the $2 million reporting threshold. The last time OpenAI filed with the state was 2017, when revenue was $33.2 million, or more than 700 times what the foundation reported for 2022.

For all its talk of openness, OpenAI's financials remain a black box. Created as a nonprofit in 2015, OpenAI launched a so-called capped-profit entity in 2019, enabling it to raise billions of dollars in outside funding and attain attributes of a tech startup, such as the ability to hand out equity to employees. The for-profit side of the house went on to develop ChatGPT, the chatbot that took the world by storm late last year and kicked off the generative AI boom. [...]

Thad Calabrese, a professor of public and nonprofit financial management at New York University, said OpenAI's current status is confusing, and is unlike anything he has seen in the nonprofit world. He said OpenAI could give up its nonprofit status, and he cited the Blue Cross Blue Shield Association, which in 1994 allowed associated nonprofit medical insurance plans to switch into for-profit entities. "There's no real need to have the nonprofit," Calabrese said. "If you want to be a startup, be a startup." Regarding OpenAI's reporting with the IRS, he said "fundamentally you can't really get a holistic sense of these organizations when you don't have consolidated financial statements."

Politico reports that the climate bill passed in America in 2022 "has ignited a new zeal among leaders around the world for the kind of winner-picking, subsidy-flush governing that has been out of fashion in many countries for the past 40 years."

The bill's "mix of lavish support for clean energy technologies and efforts to box out foreign competitors is also promoting a kind of green patriotism — and even some politicians on the right, at least outside the U.S., say that's a climate message they can sell." [The bill] is having a real-world impact as investors shift their money to the U.S. from abroad, hungry to take advantage of the tax breaks. In July, for example, Swiss solar manufacturer Meyer Burger canned plans to build a factory in Germany, choosing Arizona instead. That has left political leaders across the world with a choice: Grinch and grumble about the United States' sudden clean industry favoritism, or follow suit... Even the United States' favorite pals on the global stage have felt rattled by the sudden diversion from decades of free trading. But in the U.K., European Union and Australia, many leaders are now working on their own versions.
Some examples of upcoming climate actions:

- Australia's Labor party "has budgeted $1.3 billion in spending this year on green hydrogen projects and around $660 million on moving the economy toward electricity rather than fossil fuels."

- The EU will "start operating a border tariff on high-carbon products in 2026, which seeks to keep hold of its heavy industries even as they pay an increasingly punitive price for polluting to the EU Emissions Trading System."

- The UK Labour party plans messaging "that casts the green energy transition as a national mission which can create jobs in former industrial communities."

- In the U.S. the White House says its bill will spur closer to $700 billion — or even $1 trillion — in green incentives over 10 years. "As the White House sees it, the jump means the tax credits for priorities such as homegrown clean power and electric vehicles have proven more popular than initially anticipated."


Taken together, all the bills "reflect the urgency of the problem," Politico argues, "by aiming to transform the economy at a pace the market can't deliver on its own." "We are in the middle of a climate crisis because firms couldn't do the job of decarbonizing," said Todd Tucker, director of industrial policy and trade at the progressive think tank Roosevelt Institute. "The climate crisis is the world's biggest market failure ever and it's going to take really strong public investment."

The FTC is considering an investigation into Microsoft's investment in OpenAI to determine if the company broke any antitrust laws. The Register reports: Despite the money poured into it over the years, OpenAI was founded as a non-profit in 2015, and Microsoft's investment does not amount to control of the company. Microsoft chief communications officer Frank X Shaw underlined attempts to dampen down industry talk of a probe: "While details of our agreement remain confidential, it is important to note that Microsoft does not own any portion of OpenAI and is simply entitled to share of profit distributions."

At the end of last week, the UK's Competition and Markets Authority (CMA) launched a consultation to ask interested parties to comment on Microsoft's relationship with ChatGPT developer, and if it could be construed as a merger that potentially skews competition. If so, the CMA will itself launch an official inspection.

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

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

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

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

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

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

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

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

"Reruns are filling the hole."

Four Republican candidates for U.S. president debated Wednesday — and moderator Megyn Kelly had a tough question for former South Carolina governor Nikki Haley. "Can you please speak to the requirement that you said that every anonymous internet user needs to out themselves?" Nikki Haley: What I said was, that social media companies need to show us their algorithms. I also said there are millions of bots on social media right now. They're foreign, they're Chinese, they're Iranian. I will always fight for freedom of speech for Americans; we do not need freedom of speech for Russians and Iranians and Hamas. We need social media companies to go and fight back on all of these bots that are happening. That's what I said.

As a mom, do I think social media would be more civil if we went and had people's names next to that? Yes, I do think that, because I think we've got too much cyberbullying, I think we've got child pornography and all of those things. But having said that, I never said government should go and require anyone's name.

DeSantis: That's false.

Haley: What I said —

DeSantis:You said I want your name. As president of the United States, her first day in office, she said one of the first things I'm going to do --

Haley: I said we were going to get the millions of bots.

DeSantis: "All social medias? I want your name." A government i.d. to dox every American. That's what she said. You can roll the tape. She said I want your name — and that was going to be one of the first things she did in office. And then she got real serious blowback — and understandably so, because it would be a massive expansion of government. We have anonymous speech. The Federalist Papers were written with anonymous writers — Jay, Madison, and Hamilton, they went under "Publius". It's something that's important — and especially given how conservatives have been attacked and they've lost jobs and they've been cancelled. You know the regime would use that to weaponize that against our own people. It was a bad idea, and she should own up to it.

Haley: This cracks me up, because Ron is so hypocritical, because he actually went and tried to push a law that would stop anonymous people from talking to the press, and went so far to say bloggers should have to register with the state --

DeSantis:That's not true.

Haley: — if they're going to write about elected officials. It was in the — check your newpaper. It was absolutely there.
DeSantis quickly attributed the introduction of that legislation to "some legislator".

The press had already extensively written about Haley's position on anonymity on social media. Three weeks ago Business Insider covered a Fox News interview, and quoted Nikki Haley as saying: "When I get into office, the first thing we have to do, social media companies, they have to show America their algorithms. Let us see why they're pushing what they're pushing. The second thing is every person on social media should be verified by their name." Haley said this was why her proposals would be necessary to counter the "national security threat" posed by anonymous social media accounts and social media bots. "When you do that, all of a sudden people have to stand by what they say, and it gets rid of the Russian bots, the Iranian bots, and the Chinese bots," Haley said. "And then you're gonna get some civility when people know their name is next to what they say, and they know their pastor and their family member's gonna see it. It's gonna help our kids and it's gonna help our country," she continued... A representative for the Haley campaign told Business Insider that Haley's proposals were "common sense."

"We all know that America's enemies use anonymous bots to spread anti-American lies and sow chaos and division within our borders. Nikki believes social media companies need to do a better job of verifying users so we can crack down on Chinese, Iranian, and Russian bots," the representative said.
The next day CNBC reported that Haley "appeared to add a caveat... suggesting Wednesday that Americans should still be allowed to post anonymously online." A spokesperson for Haley's campaign added, "Social media companies need to do a better job of verifying users as human in order to crack down on anonymous foreign bots. We can do this while protecting America's right to free speech and Americans who post anonymously."

Privacy issues had also come up just five minutes earlier in the debate. In March America's Treasury Secretary had recommended the country "advance policy and technical work on a potential central bank digital currency, or CBDC, so the U.S. is prepared if CBDC is determined to be in the national interest."

But Florida governor Ron DeSantis spoke out forecefully against the possibility. "They want to get rid of cash, crypto, they want to force you to do that. They'll take away your privacy. They will absolutely regulate your purchases. On Day One as president, we take the idea of Central Bank Digital Currency, and we throw it in the trash can. It'll be dead on arrival." [The audience applauded.]

The Washington Post reports: A prominent disinformation scholar has accused Harvard University of dismissing her to curry favor with Facebook and its current and former executives in violation of her right to free speech.

Joan Donovan claimed in a filing with the Education Department and the Massachusetts attorney general that her superiors soured on her as Harvard was getting a record $500 million pledge from Meta founder Mark Zuckerberg's charitable arm. As research director of Harvard Kennedy School projects delving into mis- and disinformation on social media platforms, Donovan had raised millions in grants, testified before Congress and been a frequent commentator on television, often faulting internet companies for profiting from the spread of divisive falsehoods. Last year, the school's dean told her that he was winding down her main project and that she should stop fundraising for it. This year, the school eliminated her position.
As one of the first researchers with access to "the Facebook papers" leaked by Frances Haugen, Donovan was asked to speak at a meeting of the Dean's Council, a group of the university's high-profile donors, remembers The Columbia Journalism Review : Elliot Schrage, then the vice president of communications and global policy for Meta, was also at the meeting. Donovan says that, after she brought up the Haugen leaks, Schrage became agitated and visibly angry, "rocking in his chair and waving his arms and trying to interrupt." During a Q&A session after her talk, Donovan says, Schrage reiterated a number of common Meta talking points, including the fact that disinformation is a fluid concept with no agreed-upon definition and that the company didn't want to be an "arbiter of truth."

According to Donovan, Nancy Gibbs, Donovan's faculty advisor, was supportive after the incident. She says that they discussed how Schrage would likely try to pressure Douglas Elmendorf, the dean of the Kennedy School of Government (where the Shorenstein Center hosting Donovan's project is based) about the idea of creating a public archive of the documents... After Elmendorf called her in for a status meeting, Donovan claims that he told her she was not to raise any more money for her project; that she was forbidden to spend the money that she had raised (a total of twelve million dollars, she says); and that she couldn't hire any new staff. According to Donovan, Elmendorf told her that he wasn't going to allow any expenditure that increased her public profile, and used a number of Meta talking points in his assessment of her work...

Donovan says she tried to move her work to the Berkman Klein Center at Harvard, but that the head of that center told her that they didn't have the "political capital" to bring on someone whom Elmendorf had "targeted"... Donovan told me that she believes the pressure to shut down her project is part of a broader pattern of influence in which Meta and other tech platforms have tried to make research into disinformation as difficult as possible... Donovan said she hopes that by blowing the whistle on Harvard, her case will be the "tip of the spear."
Another interesting detail from the article: [Donovan] alleges that Meta pressured Elmendorf to act, noting that he is friends with Sheryl Sandberg, the company's chief operating officer. (Elmendorf was Sandberg's advisor when she studied at Harvard in the early nineties; he attended Sandberg's wedding in 2022, four days before moving to shut down Donovan's project.)

15,279 people live in the rural Minnesota town of Bemidji. But now mail carriers there, "overwhelmed by Amazon packages, say they've been warned not to use the word 'Amazon,' including when customers ask why the mail is delayed," reports the Washington Post: "We are not to mention the word 'Amazon' to anyone," said a mail carrier who spoke on the condition of anonymity to protect their job. "If asked, they're to be referred to as 'Delivery Partners' or 'Distributors,'" said a second carrier. "It's ridiculous." The directive, passed down Monday morning from U.S. Postal Service management, comes three weeks after mail carriers in the northern Minnesota town staged a symbolic strike outside the post office, protesting the heavy workloads and long hours caused by the sudden arrival of thousands of Amazon packages...

In addition to being banned from saying "Amazon," postal workers have also been told their jobs could be at risk if they speak publicly about post office issues. Staffers were told they could attend Tuesday's meeting only on their 30-minute lunch break if they changed out of uniform, mail carriers said. One mail carrier said he'd been warned there could be "consequences" for those who showed up.

Postal customers in Bemidji have been complaining about late and missing mail since the beginning of November, when the contract for delivering Amazon packages in town switched from UPS to the post office. Mail carriers told The Post last month that they were instructed to deliver packages before the mail, leaving residents waiting for tax rebates, credit card statements, medical documents and checks...

The post office has held a contract to deliver Amazon packages on Sundays since 2013. The agency, which has lost $6.5 billion in the past year, has said that it's crucial to increase package volume by cutting deals with Amazon and other retailers.
Tuesday the town's mayor held a listening session for the state's two senators with Bemidji residents, whose complaints included "missing medications and late bills resulting in fees." Senator Amy Klobuchar later told the Post that "We need a very clear commitment that we're not going to be prioritizing Amazon packages over regular mail," promising to explore improving postal staffing and pay for rural carriers. On Monday, the Minnesota senators introduced a bill called the Postal Delivery Accountability Act, which would require the post office to improve tracking and reporting of delayed and undelivered mail nationally.