Earth

Nobel Prize Winner Argues Tech Companies Should Be Changing The World (qz.com) 129

An anonymous reader writes: Tech companies are competing to serve the wealthy, argues the winner of the 2006 Nobel Peace Prize, complaining there's no "global vision," with big innovations instead "designed and dedicated mostly for commercial successes... while trillions of dollars are invested in developing robotics and artificial intelligence for military and commercial purposes, there is little interest in applying technology to overcome the massive human problems of the world." A genius in the tech industry "can dedicate his work to creating a medical breakthrough that will save thousands of lives -- or he can develop an app that will let people amuse themselves."

As an exception, he cites the low-cost Endless computer, which runs Linux and has 50,000 Wikipedia articles pre-installed to enable offline research -- plus more than 100 applications -- for a price of just $79. "One part of Endless's business is operated like a conventional, profit-seeking company, while the other part is a social business that provides underserved populations with educational, health, and creative services they were once denied. Endless is already being shipped around the globe by four of the five largest computer manufacturers. It has become the leading PC platform in Indonesia and much of Southeast Asia. It has also been selected as the standard operating system for the Brazilian Ministry of Education, and in coming months it will be adopted as the primary platform by a number of other Latin American countries."

The article is by Muhammad Yunus, who pioneered the concepts of microcredit and microfinance, and is taken from his new book, A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions.
Social Networks

Elon Musk Teases Reddit With Bad Answers About BFR Rocket (reddit.com) 97

Long-time Slashdot reader Rei writes: On Saturday evening, Elon Musk took questions in a Reddit AMA (Ask-Me-Anything) concerning SpaceX's new design for the BFR (Big F* Rocket). But unlike the 2016 IAC conference where many audience questions seemed to be trolling Musk, this time the tables were turned. Asked why Raptor thrust was reduced from 300 tons to 170, Musk replied, "We chickened out." He responded to a statement about landing on the moon by quoting Bob the Builder, while responding to a user's suggestion about caching internet data from Mars by writing simply "Nerd." A question as to whether BFR autogenous pressurization would be heat-exchanger based, Musk replied that they planned to utilize the Incendio spell from Harry Potter -- helpfully providing a Wikipedia link for the spell.

A technical question about the lack of a tail? "Tails are lame." A question about why the number of landing legs was increased from 3 to 4? "Because 4." After one Redditor observed "This is one bizarre AMA so far," Musk replied "Just wait..." While Musk ultimately did follow up some of the trolling with some actual responses, the overall event could be best described as "surreal".

To be fair, Musk provided some serious answers. (And his final comment ended with "Great questions nk!!") But one Redditor suggested Musk's stranger answers were like a threat, along the lines of "Just wait. It will get way more bizarre than that. Let me finish my whiskey."

Musk replied, "How did you know? I am actually drinking whiskey right now. Really."
Chrome

Microsoft Edge Beats Chrome and Firefox in Malware-Blocking Tests (computerworld.com) 125

An anonymous reader quotes Computerworld:Microsoft's Edge easily beat rival browsers from Google and Mozilla in third-party tests of the behind-the-scenes services which power anti-malware warnings and malicious website-blocking... NSS Labs says Windows 10's default browser is better at blocking phishing and socially-engineered malware attacks than Google Chrome or Mozilla Firefox... According to NSS Labs of Austin, Texas, Edge automatically blocked 92% of all in-browser credential phishing attempts and stymied 100% of all socially-engineered malware (SEM) attacks. The latter encompassed a wide range of attacks, but their common characteristic was that they tried to trick users into downloading malicious code. The tactics that SEM attackers deploy include links from social media, such as Facebook and Twitter, and bogus in-browser notifications of computer infections or other problems.

Edge bested Chrome and Firefox by decisive margins. For instance, Chrome blocked 74% of all phishing attacks, and 88% of SEM attacks. Meanwhile, Firefox came in third in both tests, stopping just 61% of the phishing attacks and 70% of all SEM attempts... Both Chrome and Mozilla's Firefox rely on the Safe Browsing API (application programing interface), but historically, Mozilla's implementation has performed poorly compared to Google's. No shock: Google created the API. Edge also took top prize in blocking attacks from the get-go. In NSS's SEM attack testing, for example, the Microsoft browser stopped nearly every attempt from the first moments a new attack was detected. Chrome and Firefox, on the other hand, halted 75% and 54% of the brand-new attacks, respectively. Over a week's time, Chrome and Firefox improved their blocking scores, although neither reached Edge's impressive 99.8%.

The researchers spent three weeks continuously monitoring the browsers on Windows 10 computers. But in the real world, Edge runs on just 5% of all personal computers, while Firefox runs on 13% and Chrome on 60%.
Government

IRS Suspends $7 Million Contract With Equifax After Malware Discovered (cbsnews.com) 50

After malware was discovered on Equifax's website again, the IRS decided late Thursday that it would temporarily suspend the agency's $7.1 million data security contract with the company. CBS News reports: In September, Equifax revealed that it had exposed 143 million consumer files -- containing names, addresses, Social Security numbers and even bank account information -- to hackers in an unprecedented security lapse. The number of consumer potentially affect by the data breach was later raised to 145.5 million. The company's former CEO blamed a single careless employee for the entire snafu. But even as he was getting grilled in Congress earlier this month, the IRS was awarding the company with a no-bid contract to provide "fraud prevention and taxpayer identification services." "Following new information available today, the IRS temporarily suspended its short-term contract with Equifax for identity proofing services," the agency said in a statement. "During this suspension, the IRS will continue its review of Equifax systems and security." The agency does not believe that any data the IRS has shared with Equifax to date has been compromised, but the suspension was taken as "a precautionary step."
Google

Google Bombs Are Our New Normal (wired.com) 94

mirandakatz writes: Tech companies' worst crises used to come in the form of pranks like Google bombs: Users figured out how to game search results, such as when a search for "miserable failure" turned up links to information about then-president George W. Bush. Today, in the era of fake news and Russian interference, that's basically our new normal -- but as Karen Wickre, a former communications lead at companies like Google and Twitter, points out, tech companies' approaches to dealing with the new breed of crises haven't evolved much since the age of Google bombs. Wickre suggests a new, collaborative approach that she dubs the "Federation," writing that "No single company, no matter how massive and wealthy, can hire its way out of a steady gusher of bad information or false and manipulative ads...The era of the edge case -- the exception, the outlier—is over. Welcome to our time, where trouble is forever brewing."
Twitter

Twitter Is Crawling With Bots and Lacks Incentive To Expel Them (bloomberg.com) 94

An anonymous reader shares a report: On Wednesday, the exterior of Twitter's San Francisco headquarters bore an eerie message: "Ban Russian Bots." Someone -- the company doesn't know who -- projected the demand onto the side of its building. Bots, or automated software programs, can be programmed to periodically send out messages on the internet. Now Twitter is scrambling to explain how bots controlled by Russian meddlers may have been used to impact the 2016 president election. Twitter was designed to be friendly to bots. They can help advertisers quickly spread their messages and respond to customer service complaints. Research from the University of Southern California and Indiana University shows that 9 to 15 percent of active Twitter accounts are bots. Many innocuously tweet headlines, the weather or Netflix releases. After the election, there was little discussion inside the company about whether the platform may have been misused, according to people familiar with the matter who asked not to be identified because it is private. But the ubiquity and usefulness of bots did come up. At one point, there were talks about whether Twitter should put a marking on bot accounts, so that users would know they were automated, one of the people said. Yet most of the conversation after the election focused on whether Trump's tweets violated Twitter's policies, the person said.
Social Networks

How Facebook Outs Sex Workers (gizmodo.com) 632

An anonymous reader shares a Gizmodo report: Leila has two identities, but Facebook is only supposed to know about one of them. Leila is a sex worker. She goes to great lengths to keep separate identities for ordinary life and for sex work, to avoid stigma, arrest, professional blowback, or clients who might be stalkers (or worse). Her "real identity" -- the public one, who lives in California, uses an academic email address, and posts about politics -- joined Facebook in 2011. Her sex-work identity is not on the social network at all; for it, she uses a different email address, a different phone number, and a different name. Yet earlier this year, looking at Facebook's "People You May Know" recommendations, Leila (a name I'm using in place of either of the names she uses) was shocked to see some of her regular sex-work clients. Despite the fact that she'd only given Facebook information from her vanilla identity, the company had somehow discerned her real-world connection to these people -- and, even more horrifyingly, her account was potentially being presented to them as a friend suggestion too, outing her regular identity to them. Because Facebook insists on concealing the methods and data it uses to link one user to another, Leila is not able to find out how the network exposed her or take steps to prevent it from happening again. "We're living in an age where you can weaponize personal information against people"Kashmir Hill, the reporter who wrote the above story, a few weeks ago shared another similar incident.
Android

Failed Palo Alto Startup Pivots From Trying To Be an 'Android Killer' To Self-driving Tech (bizjournals.com) 71

A Palo Alto startup that stopped trying to be an "Android killer" last year after raising $185 million has apparently pivoted to developing autonomous vehicle technology. From a report: The company now known as Cyngn has changed its name from Cyanogen and recently got a permit to test its self-driving tech on California roads, according to a report Wednesday on Axios. It's being led by Lior Tal, the former chief operating officer who took over as CEO last fall when Kirt McMaster left. The rest of the startup's current team of about 30 people appear to have joined since the strategy shift, Axios reported, citing LinkedIn records. Some of them are former Facebook people, like Tal, and alumni of automakers who include Mercedes-Benz. No new funding has been disclosed for the reinvented company. It lists on its website investors who backed it before it pivoted, including Andreessen Horowitz, Benchmark Capital, Redpoint Ventures, Index Ventures, Qualcomm and Chinese social networking company Tencent. The company was the center of acquisition talk in 2014, when companies like Microsoft, Amazon, Samsung and Yahoo expressed interest in the company.
Facebook

Facebook Announces $199 Oculus Go Standalone VR Headset (variety.com) 86

Facebook is going to ship a standalone VR headset called Oculus Go next year. The headset, which won't require a PC or phone to run, will be available early next year for $199. From a report: Facebook CEO Mark Zuckerberg officially announced the new product during his keynote speech at Facebook's fourth Oculus Connect virtual reality (VR) developer conference in San Jose, Calif. Wednesday, where he framed the device as an important step towards bringing VR to the masses. "We want to get a billion people in virtual reality," Zuckerberg said. Facebook VP of VR Hugo Barra said that the company developed custom lenses for the headset, which allow for a wide field of view. The display is a fast-switch LCD screen with a resolution of 2560x1440 pixels, and it comes with integrated headphones. The company will be shipping first headsets to developers in November.
Communications

T-Mobile Website Allowed Hackers to Access Your Account Data With Just Your Phone Number (vice.com) 62

Lorenzo Franceschi-Bicchierai, reporting for Motherboard: Until last week, a bug on a T-Mobile website let hackers access personal data such as email address, a customer's T-Mobile account number, and the phone's IMSI, a standardized unique number that identifies subscribers. On Friday, a day after Motherboard asked T-Mobile about the issue, the company fixed the bug. The flaw, which was discovered by security researcher Karan Saini, allowed malicious hackers who knew -- or guessed -- your phone number to obtain data that could've been used for social engineering attacks, or perhaps even to hijack victim's numbers. "T-Mobile has 76 million customers, and an attacker could have run a script to scrape the data (email, name, billing account number, IMSI number, other numbers under the same account which are usually family members) from all 76 million of these customers to create a searchable database with accurate and up-to-date information of all users," Saini, who is the founder of startup Secure7, told Motherboard in an online chat. "That would effectively be classified as a very critical data breach, making every T-Mobile cell phone owner a victim," he added.
Facebook

Virtual Zuck Fails To Connect (bbc.com) 141

Rory Cellan-Jones, writing for BBC: It must have seemed like a good idea. As a taster for a big announcement about Oculus VR on Wednesday, send Mark Zuckerberg on a little virtual reality trip, including a stop in Puerto Rico. But the reviews are in -- and they are not good. The sight of Mr Zuckerberg using VR to survey the devastation of an island still struggling to recover from Hurricane Maria may have been meant to convey Facebook's empathy with the victims. The fact that he was there in the form of a cartoon seemed to many the perfect visual metaphor for the gulf in understanding between Silicon Valley and the real world. Sure, he was talking about all the activities which his company had initiated to help the island, from helping people tell their families they were ok using Safety Check to sending Facebook employees to help restore connectivity. But cartoon Zuck showing us a 360 degree view of a flooded street before zipping back to a virtual California just seemed a little, well, crass. Is Facebook really concerned about the plight of Puerto Rico, or is it merely a handy backdrop to promote Oculus, whose sales have so far proved disappointing?
Privacy

Equifax Made Salary, Work History Available To Anyone With Your SSN and DOB (krebsonsecurity.com) 168

An anonymous reader quotes a report from KrebsOnSecurity: In May, KrebsOnSecurity broke a story about lax security at a payroll division of big-three credit bureau Equifax that let identity thieves access personal and financial data on an unknown number of Americans. Incredibly, this same division makes it simple to access detailed salary and employment history on a large portion of Americans using little more than someone's Social Security number and date of birth -- both data elements that were stolen in the recent breach at Equifax. At issue is a service provided by Equifax's TALX division called The Work Number. The service is designed to provide automated employment and income verification for prospective employers, and tens of thousands of companies report employee salary data to it. The Work Number also allows anyone whose employer uses the service to provide proof of their income when purchasing a home or applying for a loan.

The homepage for this Equifax service wants to assure visitors that "Your personal information is protected." "With your consent your personal data can be retrieved only by credentialed verifiers," Equifax assures us, referring mainly to banks and other entities that request salary data for purposes of setting credit limits. Sadly, this isn't anywhere near true because most employers who contribute data to The Work Number -- including Fortune 100 firms, government agencies and universities -- rely on horribly weak authentication for access to the information.

Businesses

The Case Against Biometric IDs (nakedcapitalism.com) 146

"The White House and Equifax Agree: Social Security Numbers Should Go," reads a headline at Bloomberg. Securities lawyer Jerri-Lynn Scofield tears down one proposed alternative: a universal biometric identity system (possibly using fingerprints and an iris scan) with further numeric verification. Presto Vivace shared the article: Using a biometric system when the basic problem of securing and safeguarding data have yet to be solved will only worsen, not address, the hacking problem. What we're being asked to do is to turn over our biometric information, and then trust those to whom we do so to safeguard that data. Given the current status of database security, corporate and governmental accountability, etc.: How do you think that is going to play out...?

[M]aybe we should rethink the whole impulse to centralize such data collection, for starters. And, after such a thought experiment, then further focus on obvious measures to safeguard such information -- such as installing regular software patches that could have prevented the Equifax hack -- should be the priority. And, how about bringing back a concept in rather short supply in C-suites -- that of accountability? Perhaps measures to increase that might be a better idea than gee whiz misdirected techno-wizardry... The Equifax hack has revealed the sad and sorry state of cybersecurity. But inviting the biometric ID fairy to drop by and replace the existing Social Security number is not the solution.

The article calls biometric identification systems "another source of data to be mined by corporations, and surveilled by those who want to do so. And it would ultimately not foil identity theft." It suggests currently biometric ids are a distraction from the push to change the credit bureau business model -- for example, requiring consumers to opt-in to the collection of their personal data.
It's funny.  Laugh.

Parody 'Subgenius' Religion Wants to Crowdfund An Alien-Contacting Beacon (gofundme.com) 78

In 1979 the followers of J. R. "Bob" Dobbs founded a satirical religion called the Church of the Subgenius. (Slackware Linux reportedly drew its name from the "pursuit of Slack", a comfort-seeking tenet of the 38-year-old parody religion.) Combining UFOs and conspiracy theories with some social critiques (and a few H.P. Lovecraft characters), the strange group is now re-emerging online with an official Facebook page -- and a slick new video channel.

In "Adventures in the Forbidden Sciences," former church CEO K'taden Legume announces that in January of 2016, "the Subgenius Foundation received an overdue bill for a storage locker in the Pacific Northwest registered under the name J. R. Dobbs. Behind the steel door was a freight elevator leading deep underground to what was long considered to be a myth: The church's long-abandoned forbidden science laboratories. Hidden in a forgotten cavern, packed floor-to-ceiling with thousands of crates dating back to the mid-19th century." Eighteen months of experimentation lead to clues about a flying saucer arriving on "the Black Day" -- and one last chance at eternal salvation and everlasting Slack: the construction of an alien-contacting beacon. Legume calls it "our best last hope for getting off of this planet. We have the tech. We have the moxie to do this, but to finish the beacon -- we need your help."

"The Beacon will be constructed by a team of 'Forbidden Scientists' led by former church CEO Dr. K'taden Legume," writes new Slashdot reader Ktaden Legume, touting a new $25,000 campaign to crowdfund the beacon's construction.

So far it's raised $294.
Businesses

Does Online Crowdfunding Actually Reward Innovation? (strategy-business.com) 93

Slashdot reader Anirban Mukherjee is an assistant marketing professor at Singapore Management University who led a team analyzing every Kickstarter project ever launched in nine product-oriented categories. An anonymous reader summarizes their results: One 2013 report predicted $96 billion a year in crowdfunding by 2038 -- nearly twice as much as what's currently funded by venture capitalists. (In a foreword, AOL co-founder Steve Case touts the potential of crowdfunding for "the rise of the rest.") "Many have predicted that online crowdfunding will democratize product development," writes business journalist Matt Palmquist, "allowing small entrepreneurs who lack the contacts, resources, and experience of larger companies to overcome economic, geographic, and social barriers on their way to market." But a large-scale analysis discovered that the biggest barrier may be consumers themselves. "The study's authors found that the amount of money pledged increased when the product description emphasized either originality or utility -- but dropped when both attributes were mentioned. The findings suggest that the crowd does not yet prize true innovation."

"The authors posit that the high degree of ambiguity surrounding crowdfunding might scare consumers away from supporting groundbreaking projects. In the typical shopping context, they point out, consumer regulations protect the buyer. But in crowdfunding, consumers may never receive the product... Another study found that more than 75 percent of successfully funded Kickstarter projects are significantly delayed... 'We speculate that the higher level of uncertainty in the crowdfunding context drives backers to choose modest innovations and shy away from more extreme innovations, i.e., innovations that are high on both novelty and usefulness,' the authors write."

After reviewing 50,310 projects, the team concluded that crowdfunding "may not be the panacea for innovation."
Education

Publishers Take ResearchGate To Court, Seek Removal of Millions of Papers (sciencemag.org) 66

An anonymous reader quotes a report from Science Magazine: Scholarly publishing giants Elsevier and the American Chemical Society (ACS) have filed a lawsuit in Germany against ResearchGate, a popular academic networking site, alleging copyright infringement on a mass scale. The move comes after a larger group of publishers became dissatisfied with ResearchGate's response to a request to alter its article-sharing practices. ResearchGate, a for-profit firm based in Berlin, Germany, which was founded in 2008, is one of the largest social networking sites aimed at the academic community. It claims more than 13 million users, who can use their personal pages to upload and share a wide range of material, including published papers, book chapters and meeting presentations.

Yesterday, a group of five publishers -- ACS, Elsevier, Brill, Wiley and Wolters Kluwer -- announced that ResearchGate had rejected the association's proposal. Instead, the group, which calls itself the "Coalition for Responsible Sharing," said in a October 5th statement that ResearchGate suggested publishers should send the company formal notices, called "takedown notices," asking it to remove content that breaches copyright. The five publishers will be sending takedown notices, according to the group. But the coalition also alleges that ResearchGate is illicitly making as many as 7 million copyrighted articles freely available, and that the company's "business model depends on the distribution of these in-copyright articles to generate traffic to its site, which is then commercialized through the sale of targeted advertising." The coalition also states that sending millions of takedown notices "is not a viable long-term solution, given the current and future scale of infringement Sending large numbers of takedown notices on an ongoing basis will prove highly disruptive to the research community." As a result, two coalition members -- ACS and Elsevier -- have opted to go to court to try to force ResearchGate's hand.

America Online

Regulate Facebook Like AIM (vice.com) 105

New submitter gooddogsgotoheaven shares a report from Motherboard arguing why the U.S. government should regulate Facebook like AIM: Sixteen years ago, the FCC approved a merger between American Online and Time Warner, but with several conditions. As part of the deal, AOL was required to make its web portal compatible with other chat apps. The government stopped AOL from building a closed system where everyone had to use AIM, meaning it had to adopt interoperability -- the ability to be compatible with other computer systems. The FCC required AOL to be compatible with at least one instant messaging rival immediately after the merger went through. Within six months, the FCC required AOL to make its portal compatible with at least two other rivals, or face penalties. The FCC's decision changed how we communicate with each other on the internet. By forcing AIM to make room for competition, a range of messaging apps and services, as well as social networks emerged. Instead of being limited to AIM, people who used AOL's portal could choose other platforms.

If Facebook were forced to make room for other services on its platform in the same way AOL made room for other chat apps, new services could emerge. "Facebook has to allow people to access their relationships however they want through other businesses or tools that are not controlled by Facebook," Matt Stoller, a fellow at the Open Markets Institute, said. "Having them control and mediate the structure of those relationships -- that's not right." Of course, people can opt out of Facebook and choose to use other, smaller social networks. But those businesses are essentially unable to thrive because of the hold Facebook has on how we communicate online. All our friends and family are already on Facebook, and because the platform is not regulated to allow competition, it's incredibly difficult for other, newer ones to emerge.

Communications

A Small But Growing Group Of Silicon Valley Heretics Are Disconnecting Themselves From the Internet (theguardian.com) 142

The Guardian reports: Decades after he stayed up all night coding a prototype of what was then called an "awesome" button, Rosenstein belongs to a small but growing band of Silicon Valley heretics who complain about the rise of the so-called "attention economy": an internet shaped around the demands of an advertising economy. These refuseniks are rarely founders or chief executives, who have little incentive to deviate from the mantra that their companies are making the world a better place. Instead, they tend to have worked a rung or two down the corporate ladder: designers, engineers and product managers who, like Rosenstein, several years ago put in place the building blocks of a digital world from which they are now trying to disentangle themselves. "It is very common," Rosenstein says, "for humans to develop things with the best of intentions and for them to have unintended, negative consequences." Rosenstein, who also helped create Gchat during a stint at Google, and now leads a San Francisco-based company that improves office productivity, appears most concerned about the psychological effects on people who, research shows, touch, swipe or tap their phone 2,617 times a day. There is growing concern that as well as addicting users, technology is contributing toward so-called "continuous partial attention", severely limiting people's ability to focus, and possibly lowering IQ. One recent study showed that the mere presence of smartphones damages cognitive capacity -- even when the device is turned off. "Everyone is distracted," Rosenstein says. "All of the time."
Advertising

Facebook Fought Rules That Could Have Exposed Fake Russian Ads (bloomberg.com) 193

According to Bloomberg, Facebook has for years fought to avoid being transparent about who's behind election-related ads online. "Since 2011, Facebook has asked the Federal Election Commission for blanket exemptions from political advertising disclosure rules -- transparency that could have helped it avoid the current crisis over Russia ad spending ahead of the 2016 U.S. election," reports Bloomberg. From the report: Communications law requires traditional media like TV and radio to track and disclose political ad buyers. The rule doesn't apply online, an exemption that's helped Facebook's self-serve advertising business generate hundreds of millions of dollars in political campaign spots. When the company was smaller, the issue was debated in some policy corners of Washington. Now that the social network is such a powerful political tool, with more than 2 billion users, the topic is at the center of a debate about the future of American democracy. Back in 2011, Facebook argued for the exemption for the same reasons as internet search giant Google: its ads are too small and have a character limit, leaving no room for language saying who paid for a campaign, according to documents on the FEC's website. Some FEC commissioners agreed, while others argued that Facebook could provide a clickable web link to get more information about the ad.

Facebook wouldn't budge. It warned that FEC proposals for more political ad disclosure could hinder free speech in a 2011 opinion written by Marc Elias, a high-powered Democratic lawyer who later became general counsel for Hillary Clinton's 2016 campaign. Colin Stretch, a top Facebook lawyer, said the agency "should not stand in the way of innovation," and warned that such rules would quickly become obsolete. When it came time for the FEC to decide in June 2011, the agency's six commissioners split on a 3-3 vote. Facebook didn't get its exemption, so an advertiser using its platform was still subject to a 2006 ruling by the FEC requiring disclosure. But the company allowed ads to run without those disclaimers, leaving it up to ad buyers to comply.

Businesses

Steemit Is a Social Network That Pays You For Your Posts In Cryptocurrency (wired.com) 54

New submitter mirandakatz writes: Our relationships with most social media are sneakily transactional: We log onto Facebook or Instagram and wind up paying the platforms with our attention and ad clicks. A new social network aims to turn that on its head by paying users for their posts. Steemit runs on Steem, a cryptocurrency that currently has a market cap of $294 million -- and users have made more than $1.2 million in American dollars on the network. At Backchannel, Andrew McMillen takes a deep dive into Steemit, writing that 'By removing the middlemen and allowing users to profit directly from the networks they participate in, Steemit could provide a roadmap to a more equitable social network...Or users could get bored or distracted by something newer and shinier and abandon it. Fortunes could vanish at any moment, but someone stands to get rich in the process.'

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