Businesses

Dropbox Files To Go Public 11

Ten years after its launch, Dropbox has filed to go public. The cloud storage company has been around since 2007 and has raised more than $600 million in funding. TechCrunch reports: We knew that it had already filed confidentially, but the company has now unveiled its filing, meaning the actual IPO is likely very soon, probably late March. The company says it will be targeting a $500 million fundraise, but this number is usually just a placeholder. The filing shows that Dropbox had $1.1 billion in revenue last year. This compares to $845 million in revenue the year before and $604 million for 2015. The company is not yet profitable, having lost nearly $112 million last year. This shows significantly improved margins when compared to losses of $210 million for 2016 and $326 million for 2015. Dropbox has been cash flow positive since 2016.
Power

Tesla Will Supply Free Charging Stations To Office Parking Lots 12

Tesla has unveiled a new "workplace charging" program today, which offers businesses free Tesla wall connectors and will also cover installation, provided they meet certain qualifications set forth by the California carmaker. "Tesla won't cover the cost of operating the charging stations, and the company says there could be other permitting, construction, zoning, or labor costs," reports The Verge. From the report: The workplace charging stations will be compatible with all Tesla cars, but not with other EVs, and they won't show up on publicly available Tesla charging maps. The wall chargers are 240 volts, or "Level 2," which is capable of topping off a battery pack in a handful of hours, though the company says the charge rate will vary by location depending on the infrastructure available.
The Courts

Manafort Left an Incriminating Paper Trail Because He Couldn't Figure Out How to Convert PDFs to Word Files (slate.com) 133

There are two types of people in this world: those who know how to convert PDFs into Word documents and those who are indicted for money laundering. Former Trump campaign chairman Paul Manafort is the second kind of person , Slate reports. From the report: Back in October, a grand jury indictment charged Manafort and his business associate Rick Gates with a variety of crimes, including conspiring "to defraud the United States." On Thursday, special counsel Robert Mueller filed a new indictment against the pair, substantially expanding the charges. As one former federal prosecutor told the Washington Post, Manafort and Gates' methods appear to have been "extensive and bold and greedy with a capital 'G,' but ... not all that sophisticated." One new detail from the indictment, however, points to just how unsophisticated Manafort seems to have been. Here's the relevant passage from the indictment. I've bolded the most important bits:

Manafort and Gates made numerous false and fraudulent representations to secure the loans. For example, Manafort provided the bank with doctored [profit and loss statements] for [Davis Manafort Inc.] for both 2015 and 2016, overstating its income by millions of dollars. The doctored 2015 DMI P&L submitted to Lender D was the same false statement previously submitted to Lender C, which overstated DMI's income by more than $4 million. The doctored 2016 DMI P&L was inflated by Manafort by more than $3.5 million. To create the false 2016 P&L, on or about October 21, 2016, Manafort emailed Gates a .pdf version of the real 2016 DMI P&L, which showed a loss of more than $600,000. Gates converted that .pdf into a "Word" document so that it could be edited, which Gates sent back to Manafort. Manafort altered that "Word" document by adding more than $3.5 million in income. He then sent this falsified P&L to Gates and asked that the "Word" document be converted back to a .pdf, which Gates did and returned to Manafort. Manafort then sent the falsified 2016 DMI P&L .pdf to Lender D.
So here's the essence of what went wrong for Manafort and Gates, according to Mueller's investigation: Manafort allegedly wanted to falsify his company's income, but he couldn't figure out how to edit the PDF.
Transportation

Airlines Won't Dare Use the Fastest Way to Board Planes (wired.com) 219

An anonymous reader writes: You've arrived at the airport early. You have already selected the perfect seat. You've employed all possible tricks for making the check-in and security processes zoom by. But there's still some blood-pressure-raising chaos you can't avoid: boarding. From impatient fellow travelers who are determined to beat you onto the plane to passengers who insist on jamming their too-big carry-ons into overhead bins, making your way to your seat can be straight-up hellish -- and Wired's Alex Davies offers up a cheery explanation of why the situation is unlikely to improve any time soon. It's not that airlines aren't trying. In fact, United is in the middle of a months-long test at LAX that involves splitting its five groups of passengers into two lines, instead of five, to see whether that will make boarding less painful. But there are some basic measures that airlines could be taking to speed things up -- offering free baggage check, for instance, or cutting down on early boarding perks -- if they weren't so worried about their bottom lines. "The question for the airlines, then, is not how to get everyone onto a plane as quickly as possible," Davies writes. "It's how to get everyone onto a plane as quickly as possible while still charging them extra for bags, doting on the regular customers, and maintaining the system that, like all class structures, serves whoever built it."
Businesses

Venezuela Says Its Cryptocurrency Raised $735 Million -- But It's a Farce (arstechnica.com) 88

Earlier this week, Venezuelan President Nicolas Maduro claimed that a new state-sponsored cryptocurrency called the petro raised $735 million on the first day of its sale. ArsTechnica dives deep on the matter to suggest that it's all a farce. From the report: The government hasn't provided any way to independently verify that $735 million figure. And there's reason to doubt almost everything the Venezuelan government has said about the project. Moreover, there's little reason to believe that the petro will maintain its value over time. The Venezuelan government has portrayed petro tokens as backed by Venezuela's vast oil reserves, but they're not. The government is merely promising to accept tax payments in petros at a government-determined exchange rate linked to oil prices. Given the Venezuelan government's history of manipulating exchange rates, experts say investors should be wary of this arrangement. Moreover, the petro scheme has been opposed by opposition legislators in Venezuela's opposition-controlled legislature. They say that the Maduro government is essentially issuing oil-backed debt, and legally that can't be done without approval from the legislature. If Maduro falls from power in the future, his successor might refuse to honor petro redemptions.
Businesses

Uber Will 'Invest Aggressively' In India And Southeast Asia, CEO Says (buzzfeed.com) 21

Pranav Dixit, writing for BuzzFeed News: Dara Khosrowshahi, Uber's CEO of six months, said on Thursday that the ride-hailing service would continue to invest aggressively in both Southeast Asia and India, where the company is losing money and faces strong competition from local players like Grab and Ola. Uber has been slow to expand its presence in India and Southeast Asia, allowing competitors to quickly gain ground. Singapore's Grab, for instance, claimed to have 95% of the country's ride-hailing market share last year. And Ola, Uber's Indian rival, currently operates in 110 cities against Uber's 29 cities. Ola does 1 billion rides annually, compared to Uber, which announced in mid-2017 that it completed 500 million total rides in the country in its first four years of operations. "We expect to lose money in Southeast Asia and expect to invest aggressively in terms of marketing, subsidies, etc.," Khosrowshahi told reporters in India, which is Uber's fastest-growing market outside the United States, and where he is currently on his first official tour. While Uber's India operation is not yet profitable, it does account for 10% of Uber's rides globally.
Businesses

Uber Launches 'Express Pool' To Get More Riders To Share Rides (recode.net) 63

An anonymous reader quotes a report from Recode: Uber is beginning to roll out a cheaper version of its ride-sharing UberPool service, called Express Pool. The service, which was being tested in Boston and San Francisco, is now available in Los Angeles, San Diego and Denver, and will launch in Miami, Philadelphia and Washington, D.C., tomorrow. The idea is that Express Pool, which requires riders to walk a little to meet their driver -- and then again to their destination after being dropped off -- will make shared rides more efficient. If it works, it should both increase the number of rides that drivers can give and also make those shared trips faster for passengers. The new service tests a thesis Uber has long had: Lower prices means higher utilization, and higher utilization means more money -- both for drivers and for Uber. Also that road congestion is bad and the solution is to share more rides. Those are the same theories that sparked the creation of the original UberPool service, which requires a little less walking. But the hope is that this will make it easier to match more passengers and therefore lose less money on each shared ride.
Bitcoin

Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies (businessinsider.com) 75

Poland's central bank has been accused of hiring YouTubers to "start a smear campaign" against cryptocurrencies in the country, Business Insider reports. From the story: According to Business Insider Poland, the Narodowy Bank Polski spent around 91,000 zloty ($27,300) on a marketing campaign designed to attack the legitimacy of cryptocurrencies. The money was spent on platforms including Google and Facebook, but was also used to pay a Polish Youtube partner network called Gamellon. The Gamellon network reportedly represents many of Poland's top YouTubers, including popular prankster Marcin Dubiel. In December, Dubiel published a video titled "STRACILEM WSZYSTKIE PIENIADZE?!" -- which loosely translates as "I LOST ALL MY MONEY?!" In the satirical video, Dubiel invests all his money in a fake cryptocurrency called Dubielcoin, gets rich, but then sees its value plunge and loses everything. It has racked up over 500,000 views.
Businesses

Slashdot Asks: What Do People Misunderstand or Underappreciate About Apple? (fastcompany.com) 463

In an interview with Fast Company, Apple CEO Tim Cook says people who have not used his company's products miss "how different Apple is versus other technology companies." A person who is just looking at the company's revenues and profits, says Cook, might think that Apple "is good at making money." But he says "that's not who we are. In Cook's view, Apple is: We're a group of people who are trying to change the world for the better, that's who we are. For us, technology is a background thing.

We don't want people to have to focus on bits and bytes and feeds and speeds. We don't want people to have to go to multiple [systems] or live with a device that's not integrated. We do the hardware and the software, and some of the key services as well, to provide a whole system. We do that in such a way that we infuse humanity into it. We take our values very seriously, and we want to make sure all of our products reflect those values. There are things like making sure that we're running our [U.S.] operations on 100% renewable energy, because we don't want to leave the earth worse than we found it. We make sure that we treat well all the people who are in our supply chain. We have incredible diversity, not as good as we want, but great diversity, and it's that diversity that yields products like this.
What do you think?
AI

'Tech Companies Should Stop Pretending AI Won't Destroy Jobs' (technologyreview.com) 343

Kai-Fu Lee, the founder and CEO of Sinovation Ventures and president of the Sinovation Ventures Artificial Intelligence Institute, believes that we're not ready for the massive societal upheavals on the way. He writes for MIT Technology Review: The rise of China as an AI superpower isn't a big deal just for China. The competition between the US and China has sparked intense advances in AI that will be impossible to stop anywhere. The change will be massive, and not all of it good. Inequality will widen. As my Uber driver in Cambridge has already intuited, AI will displace a large number of jobs, which will cause social discontent. Consider the progress of Google DeepMind's AlphaGo software, which beat the best human players of the board game Go in early 2016. It was subsequently bested by AlphaGo Zero, introduced in 2017, which learned by playing games against itself and within 40 days was superior to all the earlier versions. Now imagine those improvements transferring to areas like customer service, telemarketing, assembly lines, reception desks, truck driving, and other routine blue-collar and white-collar work.

It will soon be obvious that half of our job tasks can be done better at almost no cost by AI and robots. This will be the fastest transition humankind has experienced, and we're not ready for it. Not everyone agrees with my view. Some people argue that it will take longer than we think before jobs disappear, since many jobs will be only partially replaced, and companies will try to redeploy those displaced internally. But even if true, that won't stop the inevitable. Others remind us that every technology revolution has created new jobs as it displaced old ones. But it's dangerous to assume this will be the case again.

Security

Lawsuits Threaten Infosec Research -- Just When We Need it Most (zdnet.com) 51

This year, two security reporters and one researcher will fight for their professional lives in court. Steve Ragan, senior staff writer at tech news site CSO, and Dan Goodin, security editor at Ars Technica, were last year named defendants in two separate lawsuits. The cases are different, but they have a common theme: they are being sued by the companies covered in articles they wrote. From a report: Although lawsuits targeting reporters, particularly on the security beat, are rare, legal threats are an occupational hazard that reporters are all too aware of -- from companies threatening to call an editor to demand a correction -- or else -- to a full-blown lawsuit. But the inevitable aftermath is a "chilling effect." White-hat hackers and security researchers hesitate to report vulnerabilities and weaknesses to technology firms for fear of facing legal retribution. With nation state attackers targeting elections and critical national security infrastructure on a near-daily basis, security research is needed more than ever.
Businesses

The Car of the Future Will Sell Your Data (bloomberg.com) 238

Picture this: You're driving home from work, contemplating what to make for dinner, and as you idle at a red light near your neighborhood pizzeria, an ad offering $5 off a pepperoni pie pops up on your dashboard screen. Are you annoyed that your car's trying to sell you something, or pleasantly persuaded? From a report: Telenav, a company developing in-car advertising software, is betting you won't mind much. Car companies -- looking to earn some extra money -- hope so, too. Automakers have been installing wireless connections in vehicles and collecting data for decades. But the sheer volume of software and sensors in new vehicles, combined with artificial intelligence that can sift through data at ever-quickening speeds, means new services and revenue streams are quickly emerging. The big question for automakers now is whether they can profit off all the driver data they're capable of collecting without alienating consumers or risking backlash from Washington. "Carmakers recognize they're fighting a war over customer data," said Roger Lanctot, who works with automakers on data monetization as a consultant for Strategy Analytics. "Your driving behavior, location, has monetary value, not unlike your search activity."
Bitcoin

Venezuela Launches Oil-Backed Cryptocurrency (bbc.co.uk) 175

Venezuela has launched a cryptocurrency backed by oil in an attempt to bypass tough economic sanctions imposed by the U.S. government. "The 'Petro' is intended to bolster the country's crumbling economy, which has been suffering from hyperinflation and devaluation for years," reports the BBC. "Venezuela claims it is the world's first sovereign cryptocurrency." From the report: Critics say the move is a desperate attempt by Caracas to raise cash at a time when Venezuela lacks the ability to repay its $150 billion of foreign debt. Opposition leaders said the sale constitutes an illegal issuing of debt, while the US Treasury Department warned it may violate sanctions imposed last year. The government says the currency aims to circumvent US sanctions on the economy. President Nicolas Maduro has said each tokens will be backed by a barrel of Venezuelan crude. The Latin American country has the world's largest proven oil reserves. A total of 100 million Petros will be sold, with an initial value set at $60, based on the price of a barrel of Venezuelan crude in mid-January. The official website published a guide to setting up a virtual wallet in which to hold the cryptocurrency, but did not provide a link for actually doing so on Tuesday.
The Almighty Buck

Jeff Bezos Shares Video of 10,000-Year Clock Project (cnet.com) 269

An anonymous reader quotes a report from CNET: Amazon CEO Jeff Bezos shared a video on Tuesday of his latest project: a giant clock designed to keep time for 10,000 years. Buried deep in a west Texas mountain, the project is in partnership with San Francisco-based group The Long Now Foundation, which grew out of an idea for a 10,000 year clock that co-founder Danny Hillis proposed back in the '90s. Now, the 500-foot tall mechanical wonder is finally undergoing installation. Bezos is fronting the cash for the $42 million project, saying on the project's website that the clock is "designed to be a symbol, an icon for long-term thinking." The clock is powered by a large weight hanging on a gear, built out of materials durable enough to keep time for 10 millennia. Bezos isn't the only noteworthy name on the clock project. Musician Brian Eno and writers Kevin Kelly and Stewart Brand are also involved in the clock's construction. The team has spent the last few years creating parts for the clock and drilling through the mountain to store the pieces. You can read Bezos's account of that and view photos of the progress here.
Sci-Fi

Marvel Cinematic Universe Has a CGI Problem (screenrant.com) 395

Corey Hutchinson, writing for ScreenRant: The MCU may be the biggest thing in Hollywood these days, but there's no denying that its overuse of CGI is becoming more and more noticeable. Don't get us wrong; for the most part, the MCU's CGI has been great, even spectacular at times. Even at its worst, it's nowhere near the bottom of the pile in terms of poor special effects in superhero movies. And no single MCU entry has come anywhere close to the awfulness that is Justice League. But when a superhero franchise is pulling in this much money and getting consistently glowing reviews, the bar has to be set high, and several of the MCU's latest offerings just aren't clearing it. It's worth noting that the MCU's CGI shortcomings are a relatively recent thing. There's very little to complain about when it comes to the special effects behind their Phase One movies. They all hold up surprising well, in fact, and the same goes for the vast majority of Marvel's Phase Two films. There's a few dicey moments in Avengers: Age of Ultron, but it wasn't really until Captain America: Civil War kicked off Phase Three that any negative attention was paid to the MCU's effects work.

Take a moment to rewatch the second Black Panther clip that was released to the public a few weeks ago. Specifically, hone in on the 45 second mark, where you see Nakia shooting two guys, the second of which is very obviously computer-generated. Why the hell would they even bother to CGI that, you ask?

IBM

IBM Sues Microsoft's New Chief Diversity Officer To Protect Diversity Trade Secrets (geekwire.com) 197

theodp writes: GeekWire reports that IBM has filed suit against longtime exec Lindsay-Rae McIntyre, alleging that her new position as Microsoft's chief diversity officer violates a year-long non-compete agreement, allowing Microsoft to use IBM's internal secrets to boost its own diversity efforts. A hearing is set for Feb. 22, but in the meantime, a U.S. District Judge has temporarily barred McIntyre from working at Microsoft. "IBM has gone to great lengths to safeguard as secret the confidential information that McIntyre possesses," Big Blue explained in a court filing, citing its repeated success (in 2012, 2013, 2015, 2016, 2017) in getting the U.S. government to quash FOIA requests for IBM's EEO-1 Reports on the grounds that the mandatory race/ethnicity and gender filings represent "confidential proprietary trade secret information." IBM's argument may raise some eyebrows, considering that other tech giants -- including Google, Microsoft, Apple, and Facebook -- voluntarily disclosed their EEO-1s years ago after coming under pressure from Rev. Jesse Jackson and the Congressional Black Caucus. In 2010, IBM stopped disclosing U.S. headcount data in its annual report as it accelerated overseas hiring.
United Kingdom

Give Workers 10,000 Pound To Survive Automation, British Top Think Tank Suggests (huffingtonpost.co.uk) 200

Britons should be able to bid for 10,000 pound (roughly $14,000) to help them prosper amid huge changes to their working lives, a leading think tank suggests today. From a report: The Royal Society for the Arts (RSA) has released research proposing a radical new sovereign wealth fund, which would be invested to make a profit like similar public funds in Norway. The returns from the fund would be used to build a pot of money, to which working-age adults under-55 would apply to receive a grant in the coming decade.

People would have to set out how they intend to put the five-figure payouts to good use, for example, by using the cash to undergo re-training, to start a new business, or to combine work with the care of elderly or sick relatives. It would be funded like the student grant system and wealthier individuals could be required to pay back more in tax as their earnings increase. Ultimately, the RSA paper suggests, the wealth fund would finance a Universal Basic Income (UBI) as the world of modern work is turned upside down by increased automation, new technology and an ageing population.

China

How Does Chinese Tech Stack Up Against American Tech? 173

The Economist: China's tech leaders love visiting California, and invest there, but are no longer awed by it [Editor's note: the link may be paywalled]. By market value the Middle Kingdom's giants, Alibaba and Tencent, are in the same league as Alphabet and Facebook. New stars may float their shares in 2018-19, including Didi Chuxing (taxi rides), Ant Financial (payments) and Lufax (wealth management). China's e-commerce sales are double America's and the Chinese send 11 times more money by mobile phones than Americans, who still scribble cheques.

The venture-capital (VC) industry is booming. American visitors return from Beijing, Hangzhou and Shenzhen blown away by the entrepreneurial work ethic. Last year the government decreed that China would lead globally in artificial intelligence (AI) by 2030. The plan covers a startlingly vast range of activities, including developing smart cities and autonomous cars and setting global tech standards. Like Japanese industry in the 1960s, private Chinese firms take this "administrative guidance" seriously.
Open Source

The Future of Free and Open-Source Maps (emacsen.net) 56

Grady Martin writes: Former OpenStreetMap contributor and Google Summer of Code mentor Serge Wroclawski has outlined why OpenStreetMap is in serious trouble, citing unclear usage policies, poor geocoding (address-to-coordinate conversion), and a lack of a review model as reasons for the project's decline in quality. Perhaps more interesting, however, are the problems purported to stem from OpenStreetMap's power structure. Wroclawski writes: "In the case of OpenStreetMap, there is a formal entity which owns the data, called the OpenStreetMap Foundation. But at the same time, the ultimate choices for the website, the geographic database and the infrastructure are not under the direct control of the Foundation, but instead rest largely on one individual, who (while personally friendly) ranges from skeptical to openly hostile to change."
Books

The Slow Demise of Barnes & Noble (techcrunch.com) 121

John Biggs via TechCrunch reports of the slow demise of Barnes & Noble, which he has been chronicling for several years now. There have been many signs of trouble for the bookseller chain over the years, but none have been more apparent than the recent layoffs made earlier this week. From the report: On Monday the company laid off 1,800 people. This offered a cost savings of $40 million. [...] In fact, what B&N did was fire all full time employees at 781 stores. Further, the company laid off many shipping receivers around the holidays, resulting in bare shelves and a customer escape to Amazon. In December 2017, usually B&N's key month, sales dropped 6 percent to $953 million. Online sales fell 4.5 percent. It is important to note that when other big box retailers, namely Circuit City, went the route of firing all highly paid employees and bringing in minimum wage cashiers, stockers, and salespeople it signaled the beginning of the end.

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