An APK teardown performed by Android Authority has revealed that Reddit is now using a Large Language Model (LLM) to detect harassment on the platform. From the report: Reddit also updated its support page a week ago to mention the use of an AI model as part of its harassment filter. "The filter is powered by a Large Language Model (LLM) that's trained on moderator actions and content removed by Reddit's internal tools and enforcement teams," reads an excerpt from the page. The Register reports: The filter can be enabled in a Reddit community's mod tools, but individual moderators will need to have permissions to change subreddit settings to enable it. The harassment filter can be set to low ("filters the least content but with the most accurate results") and high ("filters the most content but may be less accurate"), and also includes an explicit allow list to force the AI to ignore certain keywords, up to 15 of which can be added. Once enabled, the filter creates a new tag in the moderation queue called "potential harassment," which moderators can review for accuracy. Reddit's help page says the feature is now available on desktop and the official Reddit apps, though it's not clear when the feature was added.

An anonymous reader quotes a report from the BBC: A group of US lawmakers has introduced a bill that would require Chinese tech giant ByteDance to sell off the popular video-sharing TikTok app within six months or face a ban. For years American officials have raised concerns that data from the app could fall into the hands of the Chinese government. A bipartisan set of 19 lawmakers introduced the legislation on Tuesday. TikTok called the bill a disguised "outright ban."

In a statement announcing the bill, the lawmakers said "applications like TikTok that are controlled by foreign adversaries pose an unacceptable risk to US national security." The bill would give ByteDance 165 days to divest, or it would be blocked from the app store and web hosting platforms in the US. TikTok has previously argued against divestment, saying a change in ownership would not impose new restrictions on data use. [...] The House Energy and Commerce Committee said it would consider the latest bill on Thursday. "This legislation will trample the First Amendment rights of 170 million Americans and deprive 5 million small businesses of a platform they rely on to grow and create jobs," TikTok said in a statement to the BBC.

Former President Donald Trump attempted to completely ban TikTok in 2020, but that was unsuccessful. More recently, a group of senators introduced legislation to block TikTok last year, but it was stalled due to lobbying from the company.

An anonymous reader quotes a report from The Register: Criminals have probably stolen nearly 30,000 Fidelity Investments Life Insurance customers' personal and financial information -- including bank account and routing numbers, credit card numbers and security or access codes -- after breaking into Infosys' IT systems in the fall. According to Fidelity, in documents filed with the Maine attorney general's office, miscreants "likely acquired" information about 28,268 people's life insurance policies after infiltrating Infosys.

"At this point, [Infosys] are unable to determine with certainty what personal information was accessed as a result of this incident," the insurer noted in a letter [PDF] sent to customers. However, the US-headquartered firm says it "believes" the data included: names, Social Security numbers, states of residence, bank accounts and routing numbers, or credit/debit card numbers in combination with access code, password, and PIN for the account, and dates of birth. In other words: Potentially everything needed to drain a ton of people's bank accounts, pull off any number of identity theft-related scams -- or at least go on a massive online shopping spree.

LockBit claimed to be behind the Infosys intrusion in November, shortly after the Indian tech services titan disclosed the "cybersecurity incident" affecting its US subsidiary, Infosys McCamish Systems aka IMS. It reported that the intrusion shuttered some of its applications and IT systems [PDF]. This was before law enforcement shut down at least some of LockBit's infrastructure in December, although that's never a guarantee that the gang will slink off into obscurity -- as we're already seen. "Since learning of this event, we have been engaged with IMS to understand IMS's actions to investigate and contain the event, implement remedial measures, and safely restore its services," Fidelity assured its customers. "In addition, we remain engaged with IMS as they continue their investigation of this incident and its impact on the data they maintain."

An anonymous reader quotes a report from The Guardian: The average toddler is missing out on hearing more than 1,000 words spoken by an adult each day due to screen time, setting back their language skills, a first-of-its kind study has found. The research, published on Tuesday in the Journal of the American Medical Association (Jama) Pediatrics, tracked 220 Australian families over two years to measure the relationship between family screen use and children's language environment. Families recorded all the audio around their child using advanced speech recognition technology over a 16-hour period on an average day at home. They repeated this process every six months between the ages of 12 and 36 months. The lead researcher, Dr Mary Brushe from the Telethon Kids Institute, said: "The technology we use is essentially like a Fitbit, but instead of counting the number of steps, this device counts the number of words spoken by, to and around the child." The device also picked up electronic noise, which the researchers analyzed to calculate screen time.

The researchers found young children's exposure to screens including TVs and phones was interfering with their language opportunities, with the association most pronounced at three years of age. For every extra minute of screen time, the three-year-olds in the study were hearing seven fewer words, speaking five fewer words themselves and engaging in one less conversation. The study found the average three-year-old in the study was exposed to two hours and 52 minutes of screen time a day. Researchers estimated this led to those children being exposed to 1,139 fewer adult words, 843 fewer child words and 194 fewer conversations. Because the study couldn't capture parents' silent phone use, including reading emails, texting or quietly scrolling through websites or social media, Brushe said they might have underestimated how much screen usage is affecting children.

A language-rich home environment was critical in supporting infants and toddlers' language development, Brushe said. While some educational children's shows were designed to help children's language skills, very young kids in the age group of the study could struggle to translate television shows into their own life, she said. This study did not differentiate between whether children were watching high- or low-quality screen content.

An anonymous reader quotes a report from Liliputing: Yuzu is a free and open source emulator that makes it possible to run Nintendo Switch games on Windows, Linux, and Android devices. First released in 2018, the software has been under constant development since then (the Android port was released less than a year ago). But last week Nintendo sued the developers, claiming that the primary purpose of the software is to circumvent Nintendo Switch encryption and allow users to play pirated games. Rather than fight the case in court, Tropic Haze (the developers behind Yuzu) have agreed to a settlement which involves paying $2.4 million in damages to Nintendo and basically shutting down Yuzu.

As part of a permanent injunction, Tropic Haze has agreed to stop distributing, advertising, or promoting Yuzu or any of its source code or features or any other "software or devices that circumvent Nintendo's technical protection measures." The court is also ordering the developers to turn over the yuzu-emu.org website to Nintendo and bars them "from supporting or facilitating access" to any other related websites, social media, chatrooms, or apps. In one of the more bizarre parts of the court order, the Yuzu team is told to delete all "circumvention devices," which includes any tools used for development of Yuzu and "all copies of Yuzu."

"Reddit users have been reacting with deep gloom to the firm saying it plans to sell shares to the public..." the BBC recently reported: The company has said its plans are "exciting" and will offer the business opportunities for growth. However many users worry the move will fundamentally change the website... "When the most important customers shift from [users] to shareholders, the product always [suffers]," said one person. "It becomes 'what can we do this quarter to squeak out an additional point of revenue', instead of 'how can we make this product better'...."

[T]he company has recorded losses every year since its start, including more than $90m last year. In the filing, Reddit said it had not started trying to make money seriously until 2018. It reported $804m in revenue last year, up more than 20% from 2022. Advertising accounted for nearly all of the revenue, but in a note to prospective investors chief executive Steve Huffman said he was excited about opportunities to make the platform a venue for commerce and license its content to AI companies.

It completed the most precise landing ever on the moon — albeit upside-down. And then it faced a "lunar night" lasting about two weeks where temperatures drop to -270 degrees Fahrenheit, reports the Times of India.

But then, "Despite not being designed for the extreme temperatures, SLIM surprised scientists by coming back to life after the two-week-long lunar night." More from Space.com: The lander woke up on February 26 during extremely hot temperatures of 212 Fahrenheit (100 Celsius) in its region and has been making contact here and there with Earth in the days since. Most recently, SLIM attempted observations with its multiband spectroscopic camera, but "it did not work properly," JAXA officials wrote. "This seems to be due to the effects of overnight," the update continued, referring to the frigid two-week-long lunar night that SLIM experienced before the sun shone near Shioli crater again. "But we will continue to investigate based on the data we have obtained for the next opportunity...."
"We received so much support for our operations after the lunar night," the agency posted on social media — adding "thank you!"

The Times of India reports that "JAXA officially announced SLIM's return to a dormant state on March 1, sharing an image of the lunar surface captured by the probe."

Above the photo, JAXA posted this hopeful message. "Although the probability of a failure increases with the repeated severe temperature cycles, SLIM operation will attempt to resume when the sun rises (late March). #GoodAfterMoon."

And Space.com notes that "Despite all, SLIM has met both main and extended mission objectives: Landing precisely on the moon, deploying two tiny rovers and conducting science with its navigation camera and its spectroscopic camera, particularly searching for signs of olivine on the surface."

Thanks to long-time Slashdot reader AmiMoJo for sharing the news.

An anonymous Slashdot reader shared this report from The Washington Post: A YouTube contractor was addressing the Austin City Council on Thursday, calling on them to urge Google to negotiate with his union, when a colleague interrupted him with jaw-dropping news: His 43-person team of contractors had all been laid off...

The YouTube workers, who work for Google and Cognizant, unanimously voted to unionize under the Alphabet Workers Union-CWA in April 2023. Since then, the workers say that Google has refused to bargain with them. Thursday's layoff signifies continued tensions between Google and its workers, some of whom in 2021 formed a union...

Workers had about 20 minutes to gather their belongings and leave the premises before they were considered trespassing.
Video footage of the moment is embedded at the top of the article. "I was speechless, shocked," said the contractor who'd been speaking. He told the Washington Post "I didn't know what to do. But angered, that was the main feeling." The council meeting was streaming live online and has since spread on social media. The contractors view the layoff as retaliation for unionizing, but Google and information technology subcontractor Cognizant said it was the normal end of a business contract.

The ability for layoffs to spread over social media highlights how the painful experience of a job loss is frequently being made public, from employees sharing recordings of Zoom meetings to posting about their unemployment. The increasing tension between YouTube's contractors and Google comes as massive layoffs continue to hit the tech industry — leaving workers uneasy and companies emboldened. Google already has had rounds of cuts the past two years.

Google has been in a long-running battle with many of its contractors as they seek the perks and high pay that full-time Google workers are accustomed to. The company has tens of thousands of contractors doing everything from food service to sales to writing code... Google maintains that Cognizant is responsible for the contractors' employment and working conditions, and therefore isn't responsible for bargaining with them. Cognizant said it is offering the workers seven weeks of paid time to explore other roles at the company and use its training resources.

Last year, the National Labor Relations Board ruled that Cognizant and Google are joint employers of the contractors. In January, the NLRB sent a cease-and-desist letter to both employers for failing to bargain with the union. Since then the issue of joint employment, which would ultimately determine which company is responsible for bargaining, has landed in an appeals court and has yet to be ruled on.
"Workers say they don't have sick pay, receive minimal benefits and are paid as little as $19 an hour," according to the article, "forcing some to work multiple jobs to make ends meet." Sam Regan, a data analyst contractor for YouTube Music, told the Washington Post that he was one of the last workers to leave the meeting where the layoffs were announced.

"Upon leaving, he heard one of the security guards call the non-emergency police line to report trespassers."

In 2005 Gabe Rivera was a compiler software engineer at Intel — before starting the tech-news aggregator Techmeme. And last year his Threads profile added the words "This is a little self-serving, but I want all social networks to be as open as possible."

Friday Threads engineer Jesse Chen posted that it was Rivera's post when Threads launched asking for an API that "convinced us to go for it." And Techmeme just made its first post using the API, according to Chen. The Verge reports : Threads plans to release its API by the end of June after testing it with a limited set of partners, including Hootsuite, Sprinklr, Sprout Social, Social News Desk, and Techmeme. The API will let developers build third-party apps for Threads and allow sites to publish directly to the platform.
More from TechCrunch: Engineer Jesse Chen posted that the company has been building the API for the past few months. The API currently allows users to authenticate, publish threads and fetch the content they post through these tools. "Over the past few months, we've been building the Threads API to enable creators, developers, and brands to manage their Threads presence at scale and easily share fresh, new ideas with their communities from their favorite third-party applications," he said...

The engineer added that Threads is looking to add more capabilities to APIs for moderation and insights gathering.

"A ransomware gang once thought to have been crippled by law enforcement has snarled prescription processing for millions of Americans over the past week..." reports the Washington Post.

"The hackers stole data about patients, encrypted company files and demanded money to unlock them, prompting the company to shut down most of its network as it worked to recover." Insurance giant UnitedHealthcare Group said the hackers struck its Change Health business unit, which routes prescription claims from pharmacies to companies that determine whether patients are covered by insurance and what they should pay... Change Health and a rival, CoverMyMeds, are the two biggest players in the so-called switch business, charging pharmacies a small fee for funneling claims to insurers. "When one of them goes down, obviously it's a major problem," said Patrick Berryman, a senior vice president at the National Community Pharmacists Association...

UnitedHealth estimated that more than 90 percent of the nation's 70,000-plus pharmacies have had to alter how they process electronic claims as a result of the Change Health outage. But it said only a small number of patients have been unable to get their prescriptions at some price. At CVS, which operates one of the largest pharmacy networks in the nation, a spokesperson said there are "a small number of cases in which our pharmacies are not able to process insurance claims" as a result of the outage. It said workarounds were allowing it to fill prescriptions, however...

For pharmacies that were not able to quickly route claims to a different company, the Change Health outage left pharmacists to try to manually calculate a patient's co-pay or offer them the cash price. Compounding the impact, thousands of organizations cut off Change Health from their systems to ensure the hackers did not infect their networks as well... The attack on Change Health has left many pharmacies in a cash-flow bind, as they face bills from the companies that deliver the medication without knowing when they will be reimbursed by insurers. Some pharmacies are requiring customers to pay full price for their prescriptions when they cannot tell if they are covered by insurance. In some cases, that means people are paying more than $1,000 out of pocket, according to social media posts.

The situation has been "extremely disruptive," said Erin Fox, associate chief pharmacy officer at University of Utah Health. "At our system, our retail pharmacies were providing three-day gratis emergency supplies for patients who could not afford to pay the cash price," Fox said by email. "In some cases, like for inhalers, we had to send product out at risk, not knowing if we will ever get paid, but we need to take care of the patients." Axis Pharmacy Northwest near Seattle is "going out on a limb and dispensing product with absolutely no inkling if we'll get paid or not," said Richard Molitor, the pharmacist in charge. UPDATE: CNN reports Change Healthcare has now announced "plans for a temporary loan program to get money flowing to health care providers affected by the outage." It's a stop-gap measure meant to give some financial relief to health care providers, which analysts say are losing millions of dollars per day because of the outage. Some US officials and health care executives told CNN it may be weeks before Change Healthcare returns to normal operations.
"Once standard payment operations resume, the funds will simply need to be repaid," the company said in a statement. Change Healthcare has been under pressure from senior US officials to get their systems back online. Officials from the White House and multiple federal agencies, including the department of Health and Human Services, have been concerned by the broad financial and health impact of the hack and have been pressing for ways to get Change Healthcare back online, sources told CNN...

In a message on its website Friday afternoon, Change Healthcare also said that it was launching a new version of its online prescribing service following the cyberattack.
Thanks to Slashdot reader CaptainDork for sharing the news.

Longtime Slashdot reader Kant shares a report from Euractiv: The European Parliament decided to ban Amazon representatives from accessing its buildings on Tuesday (February 27), due to multiple events where the global retailing giant did not attend meetings requested by members of the European Parliament, the European Parliament press service confirmed Euractiv. "In line with rule 123/3 and at the request of the [Employment and Social Affairs] Committee, the Quaestors have authorized the Secretary General [Alessandro Chiocchetti] to withdraw the long-term access badges of the interest representatives of Amazon." It is now the responsibility of the secretary general to concretely initiate the process of withdrawing their badges and to determine the duration of the ban, a European Parliament source close to the matter told Euractiv.

According to the EMPL chair Dragos Pislaru, who signed the letter, the US e-commerce company refuses to attend more than one meeting with EU lawmakers to discuss the condition of Amazon workers. Four cases are mentioned in the letter. The first occurred in May 2021, when Amazon did not attend a parliamentary committee meeting on "Amazon attacks on fundamental workers' rights and freedoms: freedom of assembly and association, and the right to collective bargain and action." The second event concerns the refusal by Amazon CEO Jeff Bezos to attend an exchange of views with EU lawmakers -- instead, the company sent a written answer. The last two episodes happened in December 2023 and January 2024. In the former event, Amazon refused access to its facilities in German and Poland to a MEP, while on the latter, the company did not attend another parliamentary committee meeting dedicated to Amazon workers' conditions. In a statement to Euractiv, an Amazon spokesperson said: "We are very disappointed with this decision, as we want to engage constructively with policymakers. [...] Our commitment continues despite this decision. Amazon regularly participates in activities organized by the European Parliament and other EU institutions -- including Parliamentary hearings -- and we remain committed to participating in balanced, constructive dialogue on issues that affect European citizens."

As part of its IPO filing with the SEC, Reddit disclosed that it has invested some of its excess cash in bitcoin, ether and Polygon. From a report: Based on the document, the firm now holds BTC and ETH in its balance sheet. Notably, Reddit filing came as part of the IPO registration statement with the SEC. Apart from ETH and BTC, the filing revealed Reddit's investment in Polygon (MATIC). According to the document, the social media platform plans to use both Ether and Polygon as a form of payment for digital goods. Further, Reddit noted that the amount of Polygon and Ethereum from virtual goods is currently immaterial. However, it indicated the possibility of a continuous addition of Bitcoin and Ethereum to its treasury. Also, it plans to keep trying out its passion for virtual goods. Moreover, the document revealed that Reddit made the investments using some of its excess cash reserves. However, the firm didn't disclose details of the crypto investments it made.

Reddit's filing document revealed why the popular social media platform dabbled into crypto. According to the firm, it holds Bitcoin and Ethereum to enable its engineering and product teams to use them. Further, it cited the present regulatory stance that suggests these two assets are potentially non-securities under US laws. Also, Reddit disclosed its plans to expand its crypto holding by including other digital assets in its balance sheet. However, it highlighted that such a move will depend on future regulations that exempt crypto as a security.

President Joe Biden will issue an executive order on Wednesday aimed at curbing foreign governments' ability to buy Americans' sensitive personal information such as heath and geolocation data, according to senior US officials. From a report: The move marks a rare policy effort to address a longstanding US national security concern: the ease with which anyone, including a foreign intelligence services, can legally buy Americans' data and then use the information for espionage, hacking and blackmail. The issue, a senior Justice Department official told reporters this week, is a "growing threat to our national security."

The executive order will give the Justice Department the authority to regulate commercial transactions that "pose an unacceptable risk" to national security by, for example, giving a foreign power large-scale access to Americans' personal data, the Justice Department official said. The department will also issue regulations that require better protection of sensitive government information, including geolocation data on US military members, according to US officials. A lot of the online trade in personal information runs through so-called data brokers, which buy information on people's Social Security numbers, names, addresses, income, employment history and criminal background, as well as other items.

"Countries of concern, such as China and Russia, are buying Americans' sensitive personal data from data brokers," a separate senior administration official told reporters. In addition to health and location data, the executive order is expected to cover other sensitive information like genomic and financial data. Administration officials told reporters the new executive order would be applied narrowly so as not to hurt business transactions that do not pose a national security risk. The White House's press release.

Over the past four centuries quadrillions of ants have created a strange and turbulent global society that shadows our own. An excerpt from an Aeon article: In their native ranges, these multi-nest colonies can grow to a few hundred metres across, limited by physical barriers or other ant colonies. This turns the landscape to a patchwork of separate groups, with each chemically distinct society fighting or avoiding others at their borders. Species and colonies coexist, without any prevailing over the others. However, for the 'anonymous societies' of unicolonial ants, as they're known, transporting a small number of queens and workers to a new place can cause the relatively stable arrangement of groups to break down. As new nests are created, colonies bud and spread without ever drawing boundaries because workers treat all others of their own kind as allies. What was once a patchwork of complex relationships becomes a simplified, and unified, social system. The relative genetic homogeneity of the small founder population, replicated across a growing network of nests, ensures that members of unicolonial species tolerate each other. Spared the cost of fighting one another, these ants can live in denser populations, spreading across the land as a plant might, and turning their energies to capturing food and competing with other species. Chemical badges keep unicolonial ant societies together, but also allow those societies to rapidly expand.

An anonymous reader quotes a report from The Register: A law firm acting on behalf of the Nevada Attorney General Aaron Ford has asked a state court to issue a temporary restraining order (TRO) denying minors access to encrypted communication in Meta's Messenger application. The motion for a TRO follows AG's Ford announcement of civil lawsuits on January 30, 2024 against five social media companies, including Meta [PDF], alleging the companies deceptively marketed their services to young people through algorithms that were designed to promote addiction. Nevada was not a party to the two multi-district lawsuits filed against Meta last October by 42 State Attorney General over claims that the social media company knowingly ignored evidence that its Facebook and Instagram services contribute to the mental harm of children and teens. Meta, which lately has been investing in virtual reality and large language models, is also being sued by hundreds of school districts around the US.

The Nevada court filing to obtain a TRO follows from AG Ford's initial complaint. The legal claim cites a statement from the National Center for Missing and Exploited Children that argues Meta's provision of end-to-end encryption in Messenger "without exceptions for child sexual abuse material placed millions of children in grave danger." The initial complaint's presumably supporting claims, however, have been redacted in the publicly viewable copy of the document. The motion for a TRO, which also contains redactions, contends that Meta -- by encrypting Messenger -- has thwarted state officials from enforcing the Nevada Unfair and Deceptive Trade Practices Act. "With this Motion, the State seeks to enjoin Meta from using end-to-end encryption (also called 'E2EE') on Young Users' Messenger communications within the State of Nevada," the court filing says. "This conduct -- which renders it impossible for anyone other than a private message's sender and recipient to know what information the message contains -- serves as an essential tool of child predators and drastically impedes law enforcement efforts to protect children from heinous online crimes, including human trafficking, predation, and other forms of dangerous exploitation."

Meta enabled E2EE by default for all users of Messenger in December 2023. But according to the motion for a TRO, "Meta's end-to-end-encryption stymies efforts by Nevada law enforcement, causing needless delay and even risking the spoliation of critical pieces of necessary evidence in criminal prosecutions." The injunction, if granted, would require Meta to disable E2EE for all Messenger users under 18 in Nevada. Presumably that would also affect minors using Messenger who are visiting the Silver State.

According to the Wall Street Journal (paywalled), Canada has proposed new rules that would compel digital platforms to remove online content that features the sexual exploitation of children or intimate images without consent of the individuals involved. From a report: The rules were years in the making, and represent the third and possibly final installment of measures aimed at regulating digital platforms. Measures introduced since 2022 aim to increase the amount of domestic, Canadian-made content on streaming services, such as Netflix, and require digital platforms to help Canadian news-media outlets finance their newsroom operations. The legislation needs to be approved by Canada's Parliament before it takes effect.

Canada said its rules are based on concepts introduced by the European Union, the U.K. and Australia. Canadian officials say the proposed measures would apply to social-media platforms, adult-entertainment sites where users can upload content, and live-streaming services. These services, officials said, are expected to expeditiously remove two categories of content: That which sexually exploits a child or an abuse survivor, and intimate content broadcast without an individual's consent. The latter incorporates so-called revenge porn, or the nonconsensual posting or dissemination of intimate images, often after the end of a romantic relationship. Officials said private and encrypted messaging services are excluded from the proposed regulations.

Canadian officials said platforms will have a duty to either ensure the material is not published, or take it down once notified. Canada also intends to set up a new agency, the Digital Safety Commission, to enforce the rules, order harmful content taken down, and hold digital services accountable. Platforms that violate the rules could face a maximum penalty of up to 25 million Canadian dollars, or the equivalent of $18.5 million, officials said.

The US Supreme Court is hearing oral arguments Monday in two cases that could dramatically reshape social media, weighing whether states such as Texas and Florida should have the power to control what posts platforms can remove from their services. From a report: The high-stakes battle gives the nation's highest court an enormous say in how millions of Americans get their news and information, as well as whether sites such as Facebook, Instagram, YouTube and TikTok should be able to make their own decisions about how to moderate spam, hate speech and election misinformation. At issue are laws passed by the two states that prohibit online platforms from removing or demoting user content that expresses viewpoints -- legislation both states say is necessary to prevent censorship of conservative users.

More than a dozen Republican attorneys general have argued to the court that social media should be treated like traditional utilities such as the landline telephone network. The tech industry, meanwhile, argues that social media companies have First Amendment rights to make editorial decisions about what to show. That makes them more akin to newspapers or cable companies, opponents of the states say. The case could lead to a significant rethinking of First Amendment principles, according to legal experts. A ruling in favor of the states could weaken or reverse decades of precedent against "compelled speech," which protects private individuals from government speech mandates, and have far-reaching consequences beyond social media. A defeat for social media companies seems unlikely, but it would instantly transform their business models, according to Blair Levin, an industry analyst at the market research firm New Street Research.

Since 2010, billionaire tech investor Peter Thiel has offered to pay about 20 students $100,000 to drop out of school each year "to start companies or nonprofits," reports the Wall Street Journal. His program has now backed 271 people, and this year the applicant pool "is bigger than ever."

So how's it going? Some big successes include Vitalik Buterin, co-founder of Ethereum, the blockchain network; Laura Deming, a key figure in venture investing in aging and longevity; Austin Russell, who runs self-driving technologies company Luminar Technologies; and Paul Gu, co-founder of consumer lending company Upstart...

Thiel and executives of the fellowship acknowledge they have learned painful lessons along the way. Some applicants pursued ambitious ideas that turned out to be unrealistic, for example. "Asteroid mining is great for press releases but maybe we should have pushed back early on," he says. Others were better at applying to be Thiel fellows than they were starting businesses, it turned out... They've also learned that lone geniuses with brilliant ideas aren't usually the kinds of people who can build organizations. "It's a team sport to get something going and build on it, you can't just be a mad genius, you have to have some social skills and emotional intelligence," says Michael Gibson, an early leader of the organization who is co-founder of a venture fund that invests primarily in those who don't have a college degree...

Thiel hasn't attempted to build a better education system, which program officials acknowledge has made it harder to develop talent in the program... Thiel fellows say they don't receive much more than funding from the program and have limited contact with Thiel, though access to a network of former Thiel fellows can be useful. "Meeting some of the other members inspires you to think bigger," says Boyan Slat, a 2016 Thiel fellow who is chief executive of The Ocean Cleanup, a Netherlands-based nonprofit developing technologies to remove plastic from oceans. Slat says he has spoken to Thiel "three or four times."

As a result, Thiel and other staffers have concluded they can't grow beyond the 20 or so young people chosen as fellows each year. "If you scale the program," Thiel says, "you will have a lot more people who aren't quite ready, you would then have to be super-confident you can develop them" — which Thiel and his colleagues say they aren't skilled at doing... About a quarter of the Thiel fellows eventually returned to college to finish their degrees, suggesting that even the dropouts see enduring value in higher education.

Thiel says they "got way more out of it by going back" after launching their businesses.

"The other 75% didn't need a college degree," he says.

Florida lawmakers passed a bill on Thursday that forces social media companies to keep most minors off their platforms. The Hill reports: The legislation, which passed the state House Thursday after earlier being approved by the Senate, now heads to Gov. Ron DeSantis's (R) desk, though he says he's not quite ready to sign on. DeSantis told reporters Friday that he thinks there needs to be a "proper balance" between government regulations and parental input on the social media issue. "We'll be wrestling with that," he said. The governor said he'll be assessing the final version of the legislation likely through the weekend. "Federal law says 13 and under can't have social media accounts. That's not really enforced," he said.

The lawmakers who championed the proposed social media ban, which would require platforms check the ages of users through a third-party source, argue it will make the online landscape safer for youths. The legislation passed 108-7 in the state House and 23-14 in the Florida Senate within a matter of hours Thursday.

An anonymous reader shares a report: Beware the apes, Reddit told the world in its IPO documents, though not in such explicit terms. Put simply, the company warned potential investors that one of its subreddits, the infamous r/WallStreetBets, could make its stock price and volume extremely volatile -- and there's little Reddit can do about it. Reddit listed r/WallStreetBets as one of the possible risks to investing in the company in its S-1 form on Thursday, referencing the subreddit's role in the meme stock craze of 2021, where retail investors banded together to raise the price of struggling companies like GameStop and AMC. The goal of r/WallStreetBets back then was to screw over professional investors on Wall Street and make them lose money for betting against certain companies.

It's entirely possible that the everyday people on r/WallStreetBets, a subreddit of 15 million retail investors who refer to themselves as "apes" and "degenerates," and other online forums could do the same thing with Reddit's stock, the company stated. Reddit writes: "Given the broad awareness and brand recognition of Reddit, including as a result of the popularity of r/ wallstreetbets among retail investors, and the direct access by retail investors to broadly available trading platforms, the market price and trading volume of our Class A common stock could experience extreme volatility for reasons unrelated to our underlying business or macroeconomic or industry fundamentals."

The volatility could cause people to lose all or part of their investment, the company explained, if they are unable to sell their shares at or above the IPO price. The long-term effect of movements like those propelled by r/WallStreetBets is already documented, with the takeaway being that surges of interest and heavy investment don't necessarily bring success to companies over time.