It was March 24, 1999 that The Matrix premiered, premembers the Wall Street Journal. "To rewatch The Matrix is to be reminded of how primitive our technology was just 25 years ago. We see computers with bulky screens, cellphones with keypads and a once-ubiquitous feature of our society known as 'pay phones,' central to the plot of the film."

But the article's headline warns that "25 Years Later, We're All Trapped in 'The Matrix'". [I]n a strange way, the film has become more relevant today than it was in 1999. With the rise of the smartphone and social media, genuine human interaction has dropped precipitously. Today many people, like Cypher, would rather spend their time in the imaginary realms offered by technology than engage in a genuine relationship with other human beings.

In the film, one of the representatives of the AI, the villainous Agent Smith, played by Hugo Weaving, tells Morpheus that the false reality of the Matrix is set in 1999 because that year was "the peak of your civilization. I say your civilization, because as soon as we started thinking for you it really became our civilization." Indeed, not long after "The Matrix" premiered, humanity hooked itself up to a matrix of its own. There is no denying that our lives have become better in many ways thanks to the internet and smartphones. But the epidemic of loneliness and depression that has swept society reveals that many of us are now walled off from one another in vats of our own making...

For today's dwellers in the digital cave, the path back into the light doesn't involve taking a pill, as in "The Matrix," or being rescued by a philosopher. We ourselves have the power to resist the extremes of the digital world, even as we remain linked to it. You can find hints of an unplugged "Zion" in the Sabbath tables of observant Jews, where electronic devices are forbidden, and in university seminars where laptops are banned so that students can engage with a text and each other.

Twenty-five years ago, "The Matrix" offered us a modern twist on Plato's cave. Today we are once again asking what it will take to find our way out of the lonely darkness, into the brilliance of other human souls in the real world.

An anonymous reader quotes a report from Wired: Former president Donald Trump'sTruth Social, a shameless Twitter clone, is set to become a publicly traded company as soon as next week. Shareholders of Digital World Acquisition Corp. voted on Friday to merge with Trump Media and Technology Group, the company behind Truth Social. The vote is a culmination of a years-long saga attempting to merge Trump Media with a publicly traded company in what's known as a SPAC deal. The company will trade under the ticker DJT once it goes public. [...] Truth Social looks nearly identical to Twitter, with some key distinctions. Instead of "tweeting," users post a "truth." A "retweet" is called a "retruth." Unlike many right-wing Twitter clones, the site functions well, has remained mostly online, and actually appears to have a somewhat active user base. But since launching in February 2022, after Trump was kicked off of mainstream platforms for inciting violence during the January 6 riot at the Capitol, the company has been mired in controversy.

An anonymous reader quotes a report from the New York Times: General Motors said Friday that it had stopped sharing details about how people drove its cars with two data brokers that created risk profiles for the insurance industry. The decision followed a New York Times report this month that G.M. had, for years, been sharing data about drivers' mileage, braking, acceleration and speed with the insurance industry. The drivers were enrolled -- some unknowingly, they said -- in OnStar Smart Driver, a feature in G.M.'s internet-connected cars that collected data about how the car had been driven and promised feedback and digital badges for good driving. Some drivers said their insurance rates had increased as a result of the captured data, which G.M. shared with two brokers, LexisNexis Risk Solutions and Verisk. The firms then sold the data to insurance companies. Since Wednesday, "OnStar Smart Driver customer data is no longer being shared with LexisNexis or Verisk," a G.M. spokeswoman, Malorie Lucich, said in an emailed statement. "Customer trust is a priority for us, and we are actively evaluating our privacy processes and policies."

An Internet service provider that admitted lying to the FCC about where it offers broadband will pay a $10,000 fine and implement a compliance plan to prevent future violations. ArsTechnica: Jefferson County Cable (JCC), a small ISP in Toronto, Ohio, admitted that it falsely claimed to offer fiber service in an area that it hadn't expanded to yet. A company executive also admitted that the firm submitted false coverage data to prevent other ISPs from obtaining government grants to serve the area. Ars helped expose the incident in a February 2023 article.

The FCC announced the outcome of its investigation on March 15, saying that Jefferson County Cable violated the Broadband Data Collection program requirements and the Broadband DATA Act, a US law, "in connection with reporting inaccurate information or data with respect to the Company's ability to provide broadband Internet access service." The FCC said: "To settle this matter, Jefferson County Cable agrees to pay a $10,000 civil penalty to the United States Treasury. Jefferson County Cable also agrees to implement enhanced compliance measures. This action will help further the Commission's efforts to bridge the digital divide by having accurate data of locations where broadband service is available."

An anonymous reader quotes a report from Wired: When thousands of security researchers descend on Las Vegas every August for what's come to be known as "hacker summer camp," the back-to-back Black Hat and Defcon hacker conferences, it's a given that some of them will experiment with hacking the infrastructure of Vegas itself, the city's elaborate array of casino and hospitality technology. But at one private event in 2022, a select group of researchers were actually invited to hack a Vegas hotel room, competing in a suite crowded with their laptops and cans of Red Bull to find digital vulnerabilities in every one of the room's gadgets, from its TV to its bedside VoIP phone. One team of hackers spent those days focused on the lock on the room's door, perhaps its most sensitive piece of technology of all. Now, more than a year and a half later, they're finally bringing to light the results of that work: a technique they discovered that would allow an intruder to open any of millions of hotel rooms worldwide in seconds, with just two taps.

Today, Ian Carroll, Lennert Wouters, and a team of other security researchers are revealing a hotel keycard hacking technique they call Unsaflok. The technique is a collection of security vulnerabilities that would allow a hacker to almost instantly open several models of Saflok-brand RFID-based keycard locks sold by the Swiss lock maker Dormakaba. The Saflok systems are installed on 3 million doors worldwide, inside 13,000 properties in 131 countries. By exploiting weaknesses in both Dormakaba's encryption and the underlying RFID system Dormakaba uses, known as MIFARE Classic, Carroll and Wouters have demonstrated just how easily they can open a Saflok keycard lock. Their technique starts with obtaining any keycard from a target hotel -- say, by booking a room there or grabbing a keycard out of a box of used ones -- then reading a certain code from that card with a $300 RFID read-write device, and finally writing two keycards of their own. When they merely tap those two cards on a lock, the first rewrites a certain piece of the lock's data, and the second opens it.

Dormakaba says that it's been working since early last year to make hotels that use Saflok aware of their security flaws and to help them fix or replace the vulnerable locks. For many of the Saflok systems sold in the last eight years, there's no hardware replacement necessary for each individual lock. Instead, hotels will only need to update or replace the front desk management system and have a technician carry out a relatively quick reprogramming of each lock, door by door. Wouters and Carroll say they were nonetheless told by Dormakaba that, as of this month, only 36 percent of installed Safloks have been updated. Given that the locks aren't connected to the internet and some older locks will still need a hardware upgrade, they say the full fix will still likely take months longer to roll out, at the very least. Some older installations may take years.

couchslug shares a report from ITPro: A European cloud trade body has called for an investigation into Broadcom amid concerns over changes it has made to VMware licensing structures. The Cloud Infrastructure Service Providers in Europe (CISPE) consortium called on regulatory and legislative bodies across Europe to investigate the changes Broadcom has made to the VMware operating model, which it says will "decimate" the region's cloud infrastructure. "CISPE calls upon regulators, legislators and courts across Europe to swiftly scrutinize the actions of Broadcom in unilaterally canceling license terms for essential virtualization software," the trade body said in a statement. Since acquiring VMware in November 2023, Broadcom has embarked on a comprehensive overhaul of software licensing at the firm, which has drawn widespread criticism from customers. Broadcom stated it would continue to support customers under a perpetual licensing agreement for the period defined in the contract, but following this customers would need to exchange any remaining licenses for subscription-based products. This has left both cloud service vendors and customers in limbo, according to CISPE, without any solid information on how, when, or if they will be able to license VMware products essential for their operations from April 2024. Moreover, even if they are able to relicense the VMware software, a number of customers reported dramatic price hikes of as much as 12 times.

CISPE's characterisation of the move was far less charitable, arguing Broadcom is using VMware's market dominance, controlling almost 45% of the virtualization market, to charge exorbitant rents from cloud providers. Several CISPE members admitted that without the ability to license VMware products they will be unable to operate and will go bankrupt, with some stating that over 75% of their revenue depends on VMware virtualization tech. Members added that they often received termination notices late, if at all, with short notice periods that spanned just a few weeks. In addition, CISPE also complained about the decision to remove hundreds of products without any notice, and re-bundle the outstanding products under new prohibitive contract terms, despite there being no changes to the products themselves. Francisco Mingorance, secretary general of CISPE, said the changes will hurt both European customers and cloud service providers by increasing costs and reducing choice. At a time when our members are moving to support the requirements for switching and portability between cloud services outlined in the Data Act, Broadcom is holding the sector to ransom by leveraging VMware's dominance of the virtualization sector to enforce unfair license terms and extract unfair rents from European cloud customers," Mingorance said.

CISPE noted that for some cloud sector applications that require certifications by software or service providers, VMware products are the only viable option. As such, the association called for Broadcom to be recognized as a designated gatekeeper under the terms of the Digital Markets Act (DMA) that came into force on March 7, 2024. Mingorance argued Broadcom's moves will only further restrict an already limited set of options for cloud providers in Europe, warning that Broadcom has a dangerous degree of control over the region's digital ecosystems. "As well as inflicting financial damage on the European digital economy, these actions will decimate Europe's independent cloud infrastructure sector and further reduce the diversity of choice for customers," he explained. "Dominant software providers, in any sector from productivity software to virtualization, must not be allowed to wield life or death power over Europe's digital ecosystems."

The Justice Department sued Apple on Thursday, alleging the tech giant blocked software developers and mobile gaming companies from offering better options on the iPhone, resulting in higher prices for consumers. WSJ: The government's antitrust complaint, filed in a New Jersey federal court, alleges Apple used its control of the iPhone to prevent competitors from offering innovative services such as digital wallets and limited the functionality of hardware products that compete with Apple's own devices. The suit also claims that Apple makes it difficult for users to switch to devices that don't use Apple's operating system, such as Android smartphones.

"Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. Apple said it plans to vigorously defend against the lawsuit. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," an Apple spokesman said in a statement. "If successful, it would hinder our ability to create the kind of technology people expect from Apple -- where hardware, software, and services intersect." The case against Apple is the last shoe to drop on the big four tech giants by U.S. antitrust officials.

mrspoonsi shares a report from the BBC: A former takeaway worker found with Bitcoin worth more than $2.5 billion has been convicted at Southwark Crown Court of a crime linked to money laundering. Jian Wen, 42, from Hendon in north London, was involved in converting the currency into assets including multi-million-pound houses and jewelry. On Monday she was convicted of entering into or becoming concerned in a money laundering arrangement. The Met said the seizure is the largest of its kind in the UK.

Although Wen was living in a flat above a Chinese restaurant in Leeds when she became involved in the criminal activity, her new lifestyle saw her move into a six-bedroom house in north London in 2017 which was rented for more than $21,000 per month. She posed as an employee of an international jewelry business and moved her son to the UK to attend private school, the Crown Prosecution Service (CPS) said. That same year, Wen tried to buy a string of expensive houses in London, but struggled to pass money-laundering checks and her claims she had earned millions legitimately mining Bitcoin were not believed. She later travelled abroad, buying jewelry worth tens of thousands of pounds in Zurich, and purchasing properties in Dubai in 2019.

Another suspect is thought to be behind the fraud but they remain at large. The Met said it carried out a large scale investigation as part of the case - searching several addresses, reviewing 48 electronic devices, and examining thousands of digital files including many which were translated from Mandarin. The CPS has obtained a freezing order from the High Court, while it carries out a civil recovery investigation that could lead to the forfeiture of the Bitcoin. The value of the Bitcoin was worth around $2.5 billion at the time of initial estimates -- but due to the fluctuation in the currency's value, it has since increased to around $4.3 billion.

EU antitrust chief Margrethe Vestager on Tuesday warned Apple and Meta on their new fees for their services, saying that this may hinder users from enjoying the benefits of the Digital Markets Act which aims to give them more choices. From a report: Apple announced a slew of changes in January in a bid to comply with the landmark EU tech legislation which requires it to open up its closed eco-system to rivals.

A new fee structure includes a core technology fee of 50 euro cents per user account per year that major app developers will have to pay even if they do not use any of Apple's payment services, which has triggered criticism from rivals such as Fortnite creator Epic Games. Vestager said the new fees have attracted her attention. "There are things that we take a keen interest in, for instance, if the new Apple fee structure will de facto not make it in any way attractive to use the benefits of the DMA. That kind of thing is what we will be investigating," she told Reuters in an interview. Further reading: Apple Working on Solution for App Store Fee That Could Bankrupt Viral Apps.

"Job openings across the country are seemingly endless," writes longtime Slashdot reader smooth wombat. "Millions of jobs are listed, but are they real? Companies may post job openings with no intent to ever fill it. These are known as ghost jobs and there are more than most people realize. The BBC reports: Clarify Capital, a New York-based business loan provider, surveyed 1,000 hiring managers, and found nearly seven in 10 jobs stay open for more than 30 days, with 10% unfilled for more than half a year. Half the respondents reported they keep job listings open indefinitely because they "always open to new people." More than one in three respondents said they kept the listings active to build a pool of applicants in case of turnover -- not because a role needs to be filled in a timely manner.

The posted roles are more than just a talent vacuum sucking up resumes from applicants. They are also a tool for shaping perception inside and outside of the company. More than 40% of hiring managers said they list jobs they aren't actively trying to fill to give the impression that the company is growing. A similar share said the job listings are made to motivate employees, while 34% said the jobs are posted to placate overworked staff who may be hoping for additional help to be brought on.

"Ghost jobs are everywhere," says Geoffrey Scott, senior content manager and hiring manager at Resume Genius, a US company that helps workers design their resumes. "We discovered a massive 1.7 million potential ghost job openings on LinkedIn just in the US," says Scott. In the UK, StandOut CV, a London-based career resources company, found more than a third of job listings in 2023 were ghost jobs, defined as listings posted for more than 30 days. "Experts caution not every posting that seems like a ghost job is one," notes the report. "Still, whether these postings are ghost jobs -- or simply look and feel like them -- the result is similar. Jobseekers end up discouraged and burnt out."

Joe_Dragon shares a report: Since Apple announced plans for the 0.50 euro Core Technology Fee that apps distributed using the new EU App Store business terms must pay, there have been ongoing concerns about what that fee might mean for a developer that suddenly has a free app go viral. Apple's VP of regulatory law Kyle Andeers today met with developers during a workshop on Apple's Digital Markets Act compliance. iOS developer Riley Testut, best known for Game Boy Advance emulator GBA4iOS, asked what Apple would do if a young developer unwittingly racked up millions in fees.

Testut explained that when he was younger, that exact situation happened to him. Back in 2014 as an 18-year-old high school student, he released GBA4iOS outside of the App Store using an enterprise certificate. The app was unexpectedly downloaded more than 10 million times, and under Apple's new rules with Core Technology Fee, Testut said that would have cost $5 million euros, bankrupting his family. He asked whether Apple would actually collect that fee in a similar situation, charging the high price even though it could financially ruin a family. In response, Andeers said that Apple is working on figuring out a solution, but has not done so yet. He said Apple does not want to stifle innovation and wants to figure out how to keep young app makers and their parents from feeling scared to release an app.

Newsweek points out that a Chinese government post arguing the bill is "on the wrong side of fair competition" was flagged by users on X. "TikTok is banned in the People's Republic of China," the X community note read. (The BBC reports that "Instead, Chinese users use a similar app, Douyin, which is only available in China and subject to monitoring and censorship by the government.")

Newsweek adds that China "has also blocked access to YouTube, Facebook, Instagram, and Google services. X itself is also banned — though Chinese diplomats use the microblogging app to deliver Beijing's messaging to the wider world."

From the Wall Street Journal: Among the top concerns for [U.S.] intelligence leaders is that they wouldn't even necessarily be able to detect a Chinese influence operation if one were taking place [on TikTok] due to the opacity of the platform and how its algorithm surfaces content to users. Such operations, FBI director Christopher Wray said this week in congressional testimony, "are extraordinarily difficult to detect, which is part of what makes the national-security concerns represented by TikTok so significant...."

Critics of the bill include libertarian-leaning lawmakers, such as Sen. Rand Paul (R., Ky.), who have decried it as a form of government censorship. "The Constitution says that you have a First Amendment right to express yourself," Paul told reporters Thursday. TikTok's users "express themselves through dancing or whatever else they do on TikTok. You can't just tell them they can't do that." In the House, a bloc of 50 Democrats voted against the bill, citing concerns about curtailing free speech and the impact on people who earn income on the app. Some Senate Democrats have raised similar worries, as well as an interest in looking at a range of social-media issues at rival companies such as Meta Platforms.

"The basic idea should be to put curbs on all social media, not just one," Sen. Elizabeth Warren (D., Mass.) said Thursday. "If there's a problem with privacy, with how our children are treated, then we need to curb that behavior wherever it occurs."
Some context from the Columbia Journalism Review: Roughly one-third of Americans aged 18-29 regularly get their news from TikTok, the Pew Research Center found in a late 2023 survey. Nearly half of all TikTok users say they regularly get news from the app, a higher percentage than for any other social media platform aside from Twitter.

Almost 40 percent of young adults were using TikTok and Instagram for their primary Web search instead of the traditional search engines, a Google senior vice president said in mid-2022 — a number that's almost certainly grown since then. Overall, TikTok claims 150 million American users, almost half the US population; two-thirds of Americans aged 18-29 use the app.
Some U.S. politicians believe TikTok "radicalized" some of their supporters "with disinformation or biased reporting," according to the article.

Meanwhile in the Guardian, a Duke University law professor argues "this saga demands a broader conversation about safeguarding democracy in the digital age." The European Union's newly enacted AI act provides a blueprint for a more holistic approach, using an evidence- and risk-based system that could be used to classify platforms like TikTok as high-risk AI systems subject to more stringent regulatory oversight, with measures that demand transparency, accountability and defensive measures against misuse.
Open source advocate Evan Prodromou argues that the TikTok controversy raises a larger issue: If algorithmic curation is so powerful, "who's making the decisions on how they're used?" And he also proposes a solution.

"If there is concern about algorithms being manipulated by foreign governments, using Fediverse-enabled domestic software prevents the problem."

The Federal Trade Commission and the Department of Justice have urged the US Copyright Office to broaden exemptions to the Digital Millennium Copyright Act's Section 1201. Specifically, the two agencies are advocating for the extension of the right to repair to include "commercial and industrial equipment," which includes McDonald's ice cream machines that are notorious for breaking down. The Verge reports: Exemptions to DMCA Section 1201 are issued every three years, as per the Register of Copyrights' recommendation. Prior exemptions have been issued for jailbreaking cellphones and repairing certain parts of video game consoles. The FTC and DOJ are asking the Copyright Office to go a step further, extending the right to repair to "commercial and industrial equipment." The comment (PDF) singles out four distinct categories that would benefit from DMCA exemptions: commercial soft serve machines; proprietary diagnostic kits; programmable logic controllers; and enterprise IT. 'In the Agencies' view, renewing and expanding repair-related exemptions would promote competition in markets for replacement parts, repair, and maintenance services, as well as facilitate competition in markets for repairable products," the comment reads.

The inability to do third-party repairs on these products not only limits competition, the agencies say, but also makes repairs more costly and can lead to hundreds or thousands of dollars in lost sales. Certain logic controllers have to be discarded and replaced if they break or if the passwords for them get lost. The average estimated cost of "unplanned manufacturing downtime" was $260,000 per hour, the comment notes, citing research from Public Knowledge and iFixit. As for soft serve machines, breakdowns can lead to $625 in lost sales each day. Business owners can't legally fix them on their own or hire an independent technician to do so, meaning they have to wait around for an authorized technician -- which, the comment says, usually takes around 90 days.

At this year's SXSW festival, discussions on artificial intelligence's future sparked controversy during screenings of premiers like "The Fall Guy" and "Immaculate." Variety reports: The quick-turnaround video editors at SXSW cut a daily sizzle reel highlighting previous panels, premieres and other events, which then runs before festival screenings. On Tuesday, the fourth edition of that daily video focused on the wide variety of keynotes and panelists in town to discuss AI. Those folks sure seem bullish on artificial intelligence, and the audiences at the Paramount -- many of whom are likely writers and actors who just spent much of 2023 on the picket line trying to reign in the potentially destructive power of AI -- decided to boo the video. Loudly. And frequently.

Those boos grew the loudest toward the end of the sizzle, when OpenAI's VP of consumer product and head of ChatGPT Peter Deng declares on camera, "I actually think that AI fundamentally makes us more human." That is not a popular opinion. Deng participated in the session "AI and Humanity's Co-evolution with Open AI's Head of Chat GPT" on Monday, moderated by Signal Fire's consumer VC and former TechCrunch editor Josh Constine. Constine is at the start of the video with another soundbite that drew jeers: "SXSW has always been the digital culture makers, and I think if you look out into this room, you can see that AI is a culture." [...] The groans also grew loud for Magic Leap's founder Rony Abovitz, who gave this advice during the "Storyworlds, Hour Blue & Amplifying Humanity Ethically with AI" panel: "Be one of those people who leverages AI, don't be run over by it." You can hear some of the reactions from festival attendees here, here, and here.

Epic Games, which makes the popular video game "Fortnite," on Wednesday accused Apple of violating an injunction governing its lucrative App Store, and asked a U.S. judge to hold Apple in contempt and end its "sham" compliance. From a report: A September 2021 injunction by U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, let developers provide links and buttons that direct consumers to other means to pay for digital content.

In a filing with the California court, Epic alleged that Apple is in "blatant violation" of that injunction, despite the Cupertino, California-based company's assurance in a Jan. 16 court notice that it had "fully complied." Epic said Apple has imposed new rules and a new 27% fee on developers for some purchases, which taken together make the links "commercially unusable." The Cary, North Carolina-based developer also said Apple continues to "categorically prohibit" buttons, and still forbids some apps from telling users they have other purchasing options.

Controversial eyeball scanning startup Worldcoin has failed to get an injunction against a temporary suspension ordered Wednesday by Spain's data protection authority, the AEPD. TechCrunch: The authority used emergency powers contained in the European Union's General Data Protection Regulation (GDPR) to make the local order, which can apply for up to three months. It said it was taking the precautionary measure against Worldcoin's operator, Tools for Humanity, in light of the sensitive nature of the biometric data being collected, which could pose a high risk to the rights and freedoms of individuals. It also raised specific concerns about risks to minors, citing complaints received.

Today a Madrid-based High Court declined to grant an injunction against the AEPD's order, saying that the "safeguarding of public interest" must be prioritized. As we reported Friday, the crypto blockchain biometrics digital identity firm shuttered scanning in the market shortly after the AEPD order -- which gave it 72 hours to comply. Today's court decision means Worldcoin's services remain suspended in Spain -- for up to three months.

A Toronto Sun columnist writes that two Canadian civil liberties groups are "sounding alarms" about the proposed new Online Harms Act (C-63): The Canadian Civil Liberties Association (CCLA) and the Canadian Constitution Foundation (CCF) say while the proposed legislation contains legitimate measures to protect children from online sexual abuse, cyber-bulling and self-harm, and to combat the spread of so-called "revenge porn," its provisions to prevent the expression of hate are draconian, vaguely worded and an attack on free speech... "[D]on't be fooled," said CCF executive director Joanna Baron. "Most of the bill is aimed at restricting freedom of expression. This heavy-handed bill needs to be severely pared down to comply with the constitution."

Both the CCLA and CCF warn the bill could lead to life imprisonment for someone convicted of "incitement to genocide" — a vague term only broadly defined in the bill — and up to five years in prison for other vaguely defined hate speech crimes. The legislation, for example, defines illegal hate speech as expressing "detestation or vilification of an individual or group of individuals," while legally protected speech, "expresses dislike or disdain, or ... discredits, humiliates, hurts or offends." The problem, critics warn, will be determining in advance which is which, with the inevitable result that people and organizations will self-censor themselves because of fear of being prosecuted criminally, or fined civilly, for what is actually legal speech.
"Both the CCLA and the CCF say the proposed legislation, known as Bill C-63, will require major amendments before becoming law to pass constitutional muster," according to the columnist.

Some specific complains:

• The CCF argues that the Bill "would allow judges to put prior restraints on people who they believe on reasonable grounds may commit speech crimes in the future."

• The CCLA adds that the proposed bill also grants authorities "sweeping new search powers of electronic data, with no warrant requirement," according to the Toronto Sun, and also warns about the creation of a government-appointed "digital safety commission" given "vast authority" and "sweeping powers" to "interpret the law, make up new rules, enforce them, and then serve as judge, jury, and executioner."

And in addition, the CCF points out under the proposed rules the Canadian Human Rights Commission "could order fines of up to $50,000, and awards of up to $20,000 paid to complainants, who in some cases would be anonymous."

"Findings would be based on a mere 'balance of probabilities' standard rather than the criminal standard of proof beyond a reasonable doubt... The mere threat of human rights complaints will chill large amounts of protected speech."

Thanks to long-time Slashdot reader sinij for sharing the article.

An article in Inc notes a "wild projection" in Reddit's SEC filing that Reddit's global market opportunity by 2027 is $1.4 trillion." Some of the numbers lead back to a single individual: Sam Altman. The co-founder and chief executive of ChatGPT-maker OpenAI owns an 8.7 percent stake in Reddit, more than its co-founder and CEO, Steve Huffman, who owns 3.3 percent... Altman, through various funds and holding companies he owns or manages, controls more than a million shares of Reddit at $60 million in aggregate purchase price — and holds more than 9 percent of voting rights...

Discussing Reddit's future, financial analyst and journalist Herb Greenberg recently told CNBC, "This is an AI play."
But the senior investing editor for Kiplinger.com argues that retail investors "may want to hold tight before rushing out to buy the Reddit IPO." While IPO stocks tend to have strong first-day showings, returns for the first year are generally weak, says the team of analysts at Trivariate Research, a market research firm based in New York. And since 2020, "the average IPO has lagged its industry average by 30% over the subsequent three years following its first closing price..."

Other commenters have noted that Reddit's allotment of shares to select Redditors could lower demand on the first day of trading, which would work against any IPO pop.
"Over the past few years, there have been a bunch of IPOs in the U.S. in which overhyped names enjoyed flashy stock-market debuts only to drop sharply soon after," notes the Street. Notable examples include Coinbase, which plummeted by almost 90% after its debut, Robinhood, still down 53% since its IPO, and Rivian, down over 91% since its debut. However, it's crucial to note that all of these IPOs occurred in 2021 amid market euphoria fueled by low interest rates, significant economic stimulus, and the lingering effects of the Covid-19 pandemic. Although the current macroeconomic landscape differs from three years ago, valuations of tech and growth stocks remain stretched.
Kiplingers.com concludes it "boils down to your own personal investing goals and risk tolerance. If you do decide to buy Reddit stock when it first begins trading, do so in a small amount that you can afford to lose."

But they also cite analysis from David Trainer, CEO of New Constructs, a research firm powered by artificial intelligence. "Reddit's IPO marks the return of the junk IPO," Trainer wrote in Forbes. "[The valuation] implies that Reddit will grow its user base to 26 times current levels, which would be nearly five times the size of [Snapchat-maker] Snap, and a highly unlikely feat. Reddit looks overvalued, and we think investors should pass on this IPO."

Trainer writes: [T]he company has never been profitable and should not be a publicly traded company... I think the company may never monetize its platform without angering its users and the entire premise of Reddit is user-generated content. This business model is inescapably built on a catch-22: make money or please users... Reddit looks overvalued, and I think investors should pass on this IPO.
Buyers and analysts told the site Marketing Brew "that they see the platform as nice-to-have, but that it is not an essential part of their media plans, like Meta or Google are." "They've always been solidly in the second or third tier of social networks," alongside Snap, Pinterest, and X, Brian Wieser, a former GroupM exec who's now author of the industry newsletter Madison and Wall, told Marketing Brew.
Yet Trainer notes that "98% of Reddit's revenue in 2023 came from third-party advertising on the site and 28% of all revenue came from ten customers," and "Reddit's cost of revenue, sales & marketing, general & administrative, and research & development costs were 117% of revenue in 2023."

Trainer concludes "Reddit is nowhere near breakeven. Reddit is an unprofitable social media company fighting for users."

Bloomberg adds that the subreddit r/WallStreetBets "has threatened to bet against the stock, with many people noting that the company still loses money two decades into its existence. (Reddit lost $90.8 million last year, down from $158.6 million the year before.)" Some have complained that the invitation to invest fails to make up for the unpaid labor they've invested making the site work... In 2021 the platform's WallStreetBets forum ignited a meme-stock frenzy, propelling skyward the stocks of nostalgic but struggling companies like GameStop Corp. and AMC Entertainment Holdings Inc. and sending shockwaves through the financial industry... When it goes public, the platform that invented meme stocks runs the risk of becoming one itself.

Reddit noted the possibility as a risk in its IPO filing. "Given the broad awareness and brand recognition of Reddit, including as a result of the popularity of r/wallstreetbets among retail investors," the company warned that its stock could "experience extreme volatility ... which could cause you to lose all or part of your investment if you are unable to sell your shares at or above the initial offering price."

Users on WallStreetBets got a kick out of the fact that the company listed the forum as a risk factor, posting about it with a sly smiling emoji...
Meanwhile, reports that marketers are infiltrating subreddits have been confirmed. Over 200 businesses have "integrated Reddit Pro into their digital strategies," reports Search Engine Land, including "well-known names such as Taco Bell, the NFL, and The Wall Street Journal...

"During the initial alpha testing phase with approximately 20 businesses, Reddit reported its Pro partners, on average, generated 11 additional posts and comments per month."

A recent survey found that academic organizations are failing to preserve digital material -- "including science paid for with taxpayer money," reports Ars Technica, highlighting the need for improved archiving standards and responsibilities in the digital age. From the report: The work was done by Martin Eve, a developer at Crossref. That's the organization that organizes the DOI system, which provides a permanent pointer toward digital documents, including almost every scientific publication. If updates are done properly, a DOI will always resolve to a document, even if that document gets shifted to a new URL. But it also has a way of handling documents disappearing from their expected location, as might happen if a publisher went bankrupt. There are a set of what's called "dark archives" that the public doesn't have access to, but should contain copies of anything that's had a DOI assigned. If anything goes wrong with a DOI, it should trigger the dark archives to open access, and the DOI updated to point to the copy in the dark archive. For that to work, however, copies of everything published have to be in the archives. So Eve decided to check whether that's the case.

Using the Crossref database, Eve got a list of over 7 million DOIs and then checked whether the documents could be found in archives. He included well-known ones, like the Internet Archive at archive.org, as well as some dedicated to academic works, like LOCKSS (Lots of Copies Keeps Stuff Safe) and CLOCKSS (Controlled Lots of Copies Keeps Stuff Safe). The results were... not great. When Eve broke down the results by publisher, less than 1 percent of the 204 publishers had put the majority of their content into multiple archives. (The cutoff was 75 percent of their content in three or more archives.) Fewer than 10 percent had put more than half their content in at least two archives. And a full third seemed to be doing no organized archiving at all. At the individual publication level, under 60 percent were present in at least one archive, and over a quarter didn't appear to be in any of the archives at all. (Another 14 percent were published too recently to have been archived or had incomplete records.)

The good news is that large academic publishers appear to be reasonably good about getting things into archives; most of the unarchived issues stem from smaller publishers. Eve acknowledges that the study has limits, primarily in that there may be additional archives he hasn't checked. There are some prominent dark archives that he didn't have access to, as well as things like Sci-hub, which violates copyright in order to make material from for-profit publishers available to the public. Finally, individual publishers may have their own archiving system in place that could keep publications from disappearing. The risk here is that, ultimately, we may lose access to some academic research.

Michael McWhertor reports via Polygon: Warner Bros. Discovery is telling developers it plans to start "retiring" games published by its Adult Swim Games label, game makers who worked with the publisher tell Polygon. At least three games are under threat of being removed from Steam and other digital stores, with the fate of other games published by Adult Swim unclear. The media conglomerate's planned removal of those games echoes cuts from its film and television business; Warner Bros. Discovery infamously scrapped plans to release nearly complete movies Batgirl and Coyote vs. Acme, and removed multiple series from its streaming services. If Warner Bros. does go through with plans to delist Adult Swim's games from Steam and digital console stores, 18 or more games could be affected.

News of the Warner Bros. plan to potentially pull Adult Swim's games from Steam and the PlayStation Store was first reported by developer Owen Reedy, who released puzzle-adventure game Small Radios Big Televisions through the label in 2016. Reedy said on X Tuesday the game was being "retired" by Adult Swim Games' owner. He responded to the company's decision by making the Windows PC version of Small Radios Big Televisions available to download for free from his studio's website. Polygon reached out to other developers who had worked with Adult Swim Games as a publisher. Two studios responded to say that they'd received a similar warning from Warner Bros. Discovery, but they are still in the dark about what it means for their games. [...]

Polygon reached out to 10 studios and solo developers who had their games published by Adult Swim Games to see what they've heard. Some say they haven't been contacted by WB Discovery, but they expect to. "From what I've heard from others, I will probably be hearing from them soon," developer Andrew Morrish, who published Kingsway and Super Puzzle Platformer Deluxe through Adult Swim, told Polygon. "It's not looking good." Molinari said that if and when his game Soundodger+ is pulled from Steam, he'll republish it there "with as little downtime as possible between the two versions." The game is also available from Molinari's itch page.