Russian Bank Customers Cut Off From Apple Pay, Google Pay

Awkward! JL 

Grace Dean reports in Insider:

Cards issued by Russian banks that have been hit by sanctions are unable to use Apple Payand Google Pay services, the Central Bank of Russia said. Those banks' customers wouldn't be able to use their cards abroad, or to make online payments to companies registered in countries that have issued sanctions. People in Russia have been queuing at ATMs to get US dollars over concerns that the value of the Russian ruble will continue to plummet, while some banks in Moscow are running out of US dollars. The mass withdrawals have led to fears of a run on banks which could leave them short of capital.

The Expanding Geography of US Tech Talent

It's not just that talent is spreading, per se, but that the digital natives of the Millenial and Gen Z are more widely dispersed and frequently prefer to stay where they are rather than move to the coasts - or anywhere, making the distribution of talent broader. JL 

Richard Florida reports in CityLab:

Despite the continued dominance of a few coastal metro areas, many more affordable places have made considerable strides in attracting talent. These include larger metro areas like Austin, Salt Lake City, Phoenix, Nashville, Minneapolis-St. Paul, Kansas City, St. Louis, Oklahoma City, Des Moines, Omaha, Denver, Columbus, Pittsburgh and Cincinnati. Smaller college towns and cultural hubs like Ann Arbor, Michigan; Madison, Wisconsin; and Iowa City, Iowa, also rank as significant talent hubs.

Atop Every Soccer Team's Talent Wish List: Data Analyst

Given the hundreds of millions in currency at stake, it is only prudent that teams now employ sophisticated data analysts who can assess not just a player's or a coach's past and current performance, but the mathematical probability of their future success. JL 

Rory Smith reports in the New York Times, image by John Sibley, Reuters:

Ability is no longer the only currency in the transfer market. Information, and the skill to interpret it, is just as important now, too. Manchester City appointed Laurie Shaw, an academic with a Ph.D. in computational astrophysics who previously advised the British government. Models do not just allow (them) to assess players or performances. It lets them analyze how a coach played. It predicted young players’ development, based on historical parallels. It helped discern whether a player was shining because he was a part of a good team, or because he had some special talent.

Why China Demanded Food Delivery Services Cut Their Fees

This is part of China's broader crackdown on internet companies which the Chinese government believes have become too powerful, profitable and independent. 

The government is acutely conscious of economic conditions, especially employment. As in the west, food delivery companies often charge restaurants so much that the restaurants lose money on deliveries. Since restaurants are a large employer, the government does not want this to become a source of social unrest, particularly while it continues to pursue its 'zero tolerance' Covid policy which keeps many at home. JL

Anniek Bao and Yifan Wang report in the Wall Street Journal, image, China Daily:

China’s government said authorities would guide delivery-platform operators on lowering the fees charged to restaurant owners to reduce catering businesses’ operating costs. The directive said internet companies should also give periodic preferential discounts to food and beverage vendors in cities that have been affected by coronavirus outbreaks and has hurt the service sector.

Covid Unvaccinated 16X More Likely To Be Hospitalized, 14X More Likely To Die

Data have consistently shown that those who have been vaccinated for Covid are much less likely to be hospitalized or to die from the virus. As more data becomes available those numbers have increased. 

The more widespread access to and use of at home test kits has made it more difficult to determine actual infection rates, but again, the assessment is that most published government figures understate the rates of infection, hospitalization and death due to the way the data is categorized by different healthcare and government agencies. JL

Lisa Miller reports in Scientific American, Image by Sarah Keil:

The most recent data from the CDC shows that hospitalization rates are 16 times higher in unvaccinated adults compared to fully vaccinated ones, and rates of death are 14 times higher. A complicating factor is that recent data from New York City suggests that 55% of the population ordered at home test kits and that a quarter of individuals who tested positive during the omicron surge used a home test. Many people who use home tests report their results, but many do not.

Anonymous Hacks Russian Defense Ministry, Kremlin, Exposes Employee Data

Many of the world's hackers are throwing their support behind Ukraine, breaking into Kremlin, Russian Defence Ministry and other government websites, leaking data and otherwise creating mayhem.

Russia has enlisted the support of ransomware firms based there, though their impact has yet to be felt quite so dramatically. All of this activity does reveal how vulnerable governments and businesses remain to cyberattack. JL  

Jurgita Lapienyte reports in CyberNews:

Anonymous posted the database online and made it accessible to anyone. The database contains officials' phone numbers, emails, and passwords. Anonymous claimed responsibility for taking down Russia's most prominent websites used to spread Kremlin propaganda. Even Pornhub had its say by blocking Russian users and greeting them with the Ukrainian flag and a message of support. "Hackers all around the world: target Russia in the name of #Anonymous let them know we do not forgive, we do not forget. Anonymous owns fascists, always."

How Airlines' Landing Slot Rights Keep Empty Planes Flying

Most airports have 'use it or lose it' rules regarding landing and takeoff slot rights so despite the dramatic decline in airline passengers, many airlines are flying empty planes in order to hold on to their slots for when passenger traffic returns to pre-pandemic levels. JL

Chris Stokel-Walker reports in Wired, Image by Zach Griff, The Points Guy:

A disparity between the volume of demand for takeoff and landing slots and the number of slots available at key airports means that airlines compete fiercely for spaces. In 2020, 62 million flights took place at the world’s airports, down 40%. To handle demand, 200 airports worldwide a slot system. The current lack of demand for has increased the tension between big, incumbent companies, who hold many of the slots, and their newer competitors, who want them. Lufthansa has admitted running 21,000 empty flights this winter, using its own planes in an attempt to keep hold of airport slots.

Should the US Launch Cyber-Attacks Again Russia? Pros and Cons

Those arguing for the US to launch cyberattacks against Russia for its invasion of Ukraine cite the potential to inflict real damage as well as the moral imperative to do more than use questionably effective economic sanctions. 

But cybersecurity experts have raised concerns about the US' cyber-defenses, especially if Russia unleashes its vast army of ransomware criminals whom it has kept quiet for the past few months as it prepared for the invasion. So far, the consensus seems to be that the cost would outweigh the benefit. The question is what might change that calculus. JL

Kyle Alspach reports in Venture Beat:

Advisers have presented U.S. President Joe Biden with options for “massive cyberattacks” aimed at disrupting Russia’s military efforts. Cybersecurity experts provided a range of perspectives on the idea, from cautious support of the general concept to wariness — due in part to concerns about whether U.S. cybersecurity defenses would be up to the challenge of an cyber escalation involving Russia. “The simplest action at Putin’s disposal is to take the muzzle off the ransomware actors operating out of Russia. The last few months have been suspiciously quiet in terms of ransomware activity, and I suspect that was deliberate.”

Is Great Resignation Really the Great Retirement For Baby Boomers?

Many would probably like to re-enter the workforce on their own terms but are finding the jobs offered to older workers are at lower levels of compensation, prestige and stimulation than their career professions.

Some may still return to work if they feel safer about Covid, are bored - or need the money. JL 

Sue Hertz reports in the Washington Post:

The share of Americans over age 55 who were working fell sharply when the pandemic began, plummeting 6% points to 33.3% in March and April of 2020. (But) few have signaled a permanent exit. Whether they were ejected from their jobs or left voluntarily, most have yet to tap their Social Security benefits, that they may yet reenter the workforce (though) many older workers find the jobs available to them offer lower salaries and status than their pre-pandemic careers.

The Reason That Even As Mask Mandates Fade, Mask Usage Expected To Continue

Masks have become normalized among that segment of the population conscious of health and will probably continue to be used by many in public settings, especially travel. JL 

Helen Branswell reports in Stat:

Experts believe people — some, anyway — will continue to wear masks at certain times or in certain settings, beyond what the CDC recommends. Over time, masks could become “a courtesy normalized in our culture. We are in different circumstances now. We have more tools.” “I can imagine a lot of people will want to wear them while they’re traveling, even if it’s not required. I can imagine people will wear them in the winter because they don’t want to get the flu.”

How Much Will the West Sacrifice For Ukraine?

The answer, so far, appears to be 'not much.' 

Former Russian Premier Nikita Krushchev once said "they will sell us the rope with which we will hang them." Not much seems to have changed. If Putin wins in Ukraine with a little cost, he will not stop. JL

Tom McTague reports in The Atlantic:

You can take Ukraine, Western leaders say to Russia, but we will make you pay a price for it that you cannot afford. They are, however, entering an economic war with an adversary that has its own arsenal. The test for the Western world is to prove that it has not become those things Putin has long believed it to be: shallow, effete, decadent, and lazy. He sees us fighting among ourselves, grasping for petty domestic advantage, taking his gas and propaganda, corrupting ourselves in the process. The immediate response to the invasion isn’t as encouraging as the initial headlines suggest.

Why Investors Now Want Much More Information On Work Forces

Since the dawn of the digital age - going back to the dotcom era over 20 years ago - it has been apparent that data about human and intellectual capital is crucial to understanding organizational performance and optimization. 

Companies have not been required to report this, in part, because many financial analysts considered such information 'soft,' eg not as important as 'hard' financial data. That attitude is changing both because of the increasing importance of people and the skills to economic outcomes, but also because the pandemic and Great Resignation have demonstrated the urgency of those factors. JL 

Matt Wirz and Paul Kiernan report in the Wall Street Journal:

Workers are increasingly important to forecasting corporate profitability, but investors receive little information about them. Public companies report the value of property, accounts receivable and inventory but not human capital - workers’ skills, loyalty, training and other characteristics. A growing number of companies include some workforce statistics but the data isn’t standardized. None quantify such information in financial statements. Due to the pandemic and Great Resignation, the SEC (may soon) require disclosure of human capital data. “CEOs make flowery statements about people being their greatest assets. Why aren’t (they) on the balance sheet if they are the (so) important?”

$200 Billion One-Day Drop Suggests Crypto Is Not "Digital Gold"

So much for the argument that cryptocurrencies are a safe haven for investors in times of crisis. 

On the plus side, it's still in high demand by terrorists and criminals so it will probably never go out of fashion. JL 

Lyllah Ledesma reports in CoinDesk:

Some digital-asset investors have described bitcoin as “digital gold” – referring to the idea that the cryptocurrency could serve as a "store of value" similar to that of the precious metal and would hold its value in times of geopolitical or economic turmoil. Instead, the price of bitcoin (BTC) is down 11% on the week. Gold, in contrast to bitcoin, is trading at its highest levels in over a year. The precious metal, often touted as a safe-haven asset at times of crisis and war, is up 1.4% on the week. “Bitcoin has shown itself better at protecting against inflation expectations and less suited to protect against geopolitical risk"

The Reason Putin Didn't Flinch In the Face of Economic Sanctions

A year of exceptionally high gas prices - Russia's primary economic asset and export - allowed Putin to build a sizeable war chest. 

He is likely calculating that his troops can win a relatively quick victory, whereas economic sanctions may take months to impact the Russian economy. That time-money arbitrage is what drove his decision-making. JL 

Christiaan Hetzner reports in Fortune:

Waves of increasingly punishing financial sanctions imposed by Western allies may ultimately take too much time to unfold their full effect. Sanctions against Russia may not achieve their aim of forcing Vladimir Putin back to the negotiating table if his forces succeed in achieving their military objective before the country feels the economic pain. The Kremlin has fattened itself on the proceeds of last year’s inflationary boom in energy prices. That means it’s now in a prime position to weather reprisals designed to sap his fiscal ability to wage war.

Firms Use More Frequent Performance Reviews, Pay Hikes To Retain Staff

Exponential growth in demand for skilled workers and the Great Resignation are causing many firms to revise the annual performance review and raise for more frequent assessments. 

The goal is to give people they want to retain in a competitive environment more positive incentive to remain. JL 

Lauren Webber and Chip Cutter report in the Wall Street Journal:

The demand for U.S. workers has led some manufacturers, technology firms and other employers to ditch the annual raise and switch to more frequent pay reviews as they compete for talent and keep pace with rising wages. “When the market is evolving in real-time and there really isn’t a leading indicator other than what you’re seeing to compete and hire, you quickly have to adjust.” Compression reviews ensure existing employees, who may have been hired in a less-competitive job market, are rewarded appropriately

Will the US Move To Offer A Fourth Covid Shot?

The US appears unlikely to authorize a fourth shot for omicron or any other specific variant. 

The question is whether a multi-variant vaccine can be developed. JL 

Caitlin Owens reports in Axios:

Fourth doses are already authorized for immunocompromised people. However, for most people, data suggests that a single booster shot offers strong protection against severe disease, including from Omicron. But the big question is how long that protection against hospitalization and death will last. The need for another booster shot will depend on how much the virus keeps circulating. "It may not be as big an issue in the U.S. if we're really at a contained state." But, we got lucky that a third shot of the original vaccine works so well against Omicron and there's no guarantee that luck will hold against another variant.

Why Big Tech Companies Are Betting Offices Are Still the Future

Tech companies appear to believe that the remote work wave has crested and that many people prefer the flexibility and potential connectedness of the hybrid model. 

To enable that - and to expand their reach beyond Silicon Valley or Seattle to other areas rich in tech talent, the companies are opening regional hubs around the world. JL 

Kellen Browning reports in the New York Times:

In the last three quarters of 2021, the tech industry leased 76% more office space than it did a year earlier. The thinking on remote work is “like a pendulum - it swung a bit too far, and now it’s come back a bit.” Companies are trying to lure them back by splurging on prime office space with great amenities. “The pandemic has just changed people’s perception of what’s possible in terms of geographic distribution.” Adding regional hubs allows (them) “to tap into wider and more diverse talent pools, provide increased flexibility for current and future employees."

How the Internet Is Debunking Russian War Propaganda In Real Time

New technology has changed the waging of and perception about every war. As Russia invades Ukraine, its claims of success and its white-washing of setbacks is being debunked in real time by a virtual army of tech-savvy photo and videographers. 

While the revelation of false Russian claims used to justify its behavior could not prevent an invasion whose imperative had been set in train months ago, exposure of atrocities and war crimes will make it harder for them to defend the actions, will help sustain opposition and build the case for ever more crippling responses from western nations as well as affecting the long term consequences. JL

Matthew Gault reports in Motherboard:

As Russia floods Telegram, TikTok, and its state-controlled media with stories of Ukrainian aggression, people on the internet are using open-source intelligence tools to debunk Russia’s claims. Internet sleuths are debunking the Kremlin’s disinformation and justification for war in real time. “Now you have communities of people on the internet geolocating videos and verifying videos that are coming out of conflict zones.”

Who Will Have the Legal Authority To Decide Whether AI Is Conscious?

This is not just a theoretical argument as assignment of intellectual property rights and other potentially expensive questions are beginning to have to be decided. 

At the moment, no two scientists necessarily agree on what machine consciousness is and the courts cannot even agree on what constitutes the facts in fact-finding. This may take a while. JL

Tristan Greene reports in The Next Web:

The problem with identifying “sentience” and “consciousness” is there’s no precedent when it comes to machine intelligence. You can’t check a robot’s pulse or ask it to define “love” to see if it’s alive.Currently, the utter confusion surrounding the field of AI has led to a paradigm where academia and peer-review act as the first and only arbiters of machine sentience. Unfortunately, that puts us back into the realm of scientists arguing over science. There’s only one country with an existing legal framework by which the rights of a sentient machine can be discussed, and that’s Saudi Arabia.

Amazon Sued Over Delivery Van Crash, Citing Undue Pressure On Drivers

The lawsuit cites Amazon's 8 month employee turnover rate as evidence of its culpability. 

This may be a significant development in holding ecommerce companies liable for their workforce management policies. JL 

Samira Sadeque reports in The Guardian:

A North Carolina motorcyclist is suing Amazon for $100m after a collision with a delivery driver resulted in the amputation of his left leg. The man says Amazon’s pressure on its employees rendered the driver distracted and caused the crash. The driver admitted after the crash that he had his eyes on directions on his GPS, provided by Amazon. “The unrealistic expectations that are put on the drivers are fueling these negligence cases. The driver was so entranced in making his delivery that he did not see our client.”

Nasal Approach To Covid Vaccination Gains

Despite declining Covid infection rates and decreasing public concern about the virus, scientists are preparing for a potential next wave and future pandemics by devising more efficient, effective - and less ideologically charged - means of vaccination. JL 

Robert Forman reports in the Yale School of Medicine:

Systemic vaccines that train the entire body’s immune response followed by boosters administered directly to the nasal cavity deliver special protection in the part of the body most affected by SARS-CoV-2 infection. mRNA-based vaccines have shown diminished effectiveness over time. They especially appear to lack strength in the nasal cavity and respiratory tract where the virus is most likely to cause illness and from which it is most likely to be transmitted. “Our data demonstrated nasal vaccines significantly reduced the viral load in the nasal cavity and the lung compared to injected vaccine alone."

Corporate Pricing Is Boosting Inflation But Consumers Are Still Buying

Increased concentration of economic power in many industries has given corporations greater ability to raise prices without fear of competitors undercutting them. 

Wage increases and stimulus payments have given consumers greater ability to withstand those increases. For the time being. JL

Ellen Ioanes reports in Vox:

Starbucks celebrated a 31% increase in profits at the end of 2021 - but it still plans to hike prices this year. Some economists and politicians say corporations are using inflation as an excuse to jack up prices beyond what’s necessary for increased costs. Corporations are taking advantage of unprecedented global economic circumstances to increase their profits, simply because they can. (Because) consumers have increased purchasing power due to wage increases and stimulus benefits like checks, child tax credits, and low interest rates, they’ve proven willing to pay higher prices.

Why Applying For Hybrid Work Jobs Necessitates Remote-Specific Resume

 

Hiring algorithms have a whole new set of skills, experiences and inclinations to sort for. JL

Alexandra Samuel reports in the Wall Street Journal:

Anyone looking for a new job or promotion needs a résumé and LinkedIn profile that demonstrates remote-work savvy. Human-resources and bosses have a new set of hiring criteria: Not only do they need people who are talented, hardworking and collaborative, they need employees who can be productive and collaborative even when working outside the office. Highlight remote-relevant skills. Remote experience is only part of the equation. Employers also are looking for people who can show remote skills. Such as: ability to manage time and tasks without close oversight; ease with learning and using digital collaboration tools; strong written communication skills; and a self-starter attitude

92 Percent of Big Companies Report Returns On AI, Are Increasing Investment

Returns on corporate investment in AI are growing as more organizations deploy AI operationally. 

92% of companies surveyed said they are increasing their investments in AI. At least a quarter of those enterprises report 5% of EBIT is attributable to AI and 58% report enhanced efficiency and decision-making. 78% report improved collaboration. All told, these data suggest that AI is making measurable contributions to financial and operational results, which means its implementation growth and value can be expected to continue growing. JL 

Thomas Davenport and Randy Bean report in MIT Sloan Management Review:

In the 2022 survey of senior technology executives  92% of large companies reported that they are achieving returns on their data and AI investments. The same percentage (92%) said that they are increasing investments in data and AI.  26% have AI systems in widespread production. McKinsey found companies reporting AI adoption in at least one function had increased to 56%. AI’s economic return is growing. The share of respondents reporting at least 5% of earnings (EBIT) attributable to AI has increased to 27%. 58% of all respondents who participated in AI implementation agreed AI improved efficiency and decision-making among teams. 78%) also reported improved collaboration within teams.

30 Percent of US Companies Spending $51-100 Million On AI

That is serious money from a corporate budget. And even many small companies are spending a million or more. JL 

Venture Beat reports:

(AI) spending is strong at mid-to-large U.S. organizations, and 40% rate themselves at the three highest levels of AI maturity, having already achieved operational to transformative implementations. Over a third of high-revenue companies are spending between $51 million to $100 million on AI, and seven in ten organizations are spending $1 million or more of their budget on AI. Enterprises are using AI to innovate, scale up and drive competitive advantage as well as gain internal efficiencies.

Why Synthetic Training Data May Make AI More Accurate and Ethical

Synthetic data used to train AI allows scientists to adjust for anomalies in real world data that create biases, whether about people or about the conditions in which an autonomous vehicle is being driven. 

Creating accurate synthetic data is challenging but may ultimately make AI better. JL

Eliza Strickland reports in IEEE Spectrum:

60% of data used to train AI systems will be synthetic. For something complex like self-driving cars or autonomous machines, the amount of data we need, and the accuracy and diversity of that data, is just impossible to get from the real world.  With synthetic data it’s easier to create diversity. If I’m generating images of humans and have a synthetic data generator, that allows me to change the configurations of people’s faces, skin tone, eye color, hairstyle. Autonomous vehicle companies can change day and night and position pedestrians in dangerous situations you wouldn’t want to construct in the real world.

White Collar Workers Are Receiving Big Compensation Increases

White collar knowledge workers are receiving large increases in compensation due to labor shortages driven by pandemic-induced Baby Boomer early retirements, child care issues which sideline many employees who have small children or elderly parents to care for, immigration restrictions - and burnout. 

The rapid job changing called the Great Resignation is putting more pressure on employees who remain, which contributes to their frustration and overwork, resulting in even more change. Economists believe that the underlying causes of the labor shortages are not likely to improve in the short term. JL 

Sarah Cambon reports in the Wall Street Journal:

Wages in the professional and business services sector—which includes jobs in management, law and engineering—rose 0.8% in January. Pay for finance, information and professional employees rose 4.4% in January from a year earlier. Pay is rising, in part, because companies can’t find enough workers. The supply of labor remains depressed because of an acceleration in retirements and millions of people sitting on the sidelines due to child-care issues, Covid-19 illnesses and burnout. Labor constraints, such as aging, immigration restrictions and changing work-life preferences, will linger.

How Covid Has Changed the Future of Medicine

Just as past crises and wars have accelerated the adoption of new tools and processes with implications outside their initial intended impact, so Covid has stimulated development of therapies and approaches - many based on technology - that will revolutionize the practice of medicine for the next generation. JL 

Mattha Busby reports in The Guardian:

Covid-19 has served as a catalyst ushering in different technologies, data and research that offer insights into other diseases. The lessons that have been learned and the new norms that have solidified – will change medical science forever. The world now sits on the verge of a number of significant breakthroughs thanks to the growing research into hi-tech vaccines. Scientists are increasingly looking at how Covid treatments can help to treat other diseases. “Covid has stimulated the rapid translation of previous knowledge into practice." Public acceptance of a hi-tech approach has been key, and approval by regulatory bodies has given investors and industry confidence

How the US Became More Adept At Unmasking Russian Cyber War Tactics

The 2016 US Presidential election was a wake-up call for American intelligence. 

Subsequent threatening behavior by Russia has given the US impetus to use skills it learned analyzing what happened then as well as cyberwar efforts by China and Iran. The goal now is to release as much information about hacking efforts as quickly as possible both to forestall attacks - and to disconcert Russian decision-makers unnerved by fast exposure of what they thought were well-protected secrets. JL 

Patrick O'Neill reports in MIT Technology Review, Image by Tavis Coburn in Esquire:

Just 48 hours after banks and government websites crashed in Ukraine under the weight of a concerted cyberattack the United States pointed the finger at Russia. “GRU infrastructure was seen transmitting high volumes of communication to Ukraine-based IP addresses and domains.” This new policy has its roots in what happened in the 2016 US election. To attribute a cyberattack, analysts look at a range of data including the malware the hackers used, the computers they orchestrated to conduct the attack, intelligence and intercepted communications, and geopolitical analysis of strategic motivation behind the attacks.

What If Person Interviewed Remotely Isn't the One Who Shows Up At Work?

Remote work has enabled Zoom or phone rather than in-person hiring. And the Great Resignation has given more people better interview skills which may allow them to mask their true skills, experience or persona.

The more worrisome behaviors are fraudulent, including having friends feed interviewees answers to employers' questions, digital manipulation of CVs or references. The result is that employers have had to be more vigilant about checking backgrounds. JL 

Emma Goldberg reports in the New York Times:

Remote hiring has given some job seekers the impression they can get away with extreme dishonesty. Virtual interviews open the possibility that candidates can ask a friend to feed them answers. Telephone calls can create a psychological distance between the interviewer and interviewee, which may make it easier for people to present themselves in an inaccurate way. (And) people are doing far more interviews, with about 20% switching jobs. “It’s very easy to present yourself as you would like to be, as opposed to the way you really are.”

GM Seeks US Approval For Self-Driving Car Without Steering Wheel

That no steering wheel feature is going to take some getting used to. JL 

Jon Brodkin reports in ars technica:

GM's Cruise subsidiary has petitioned the National Highway Traffic Safety Administration (NHTSA) for permission to put the driverless Cruise Origin into commercial service. Cruise announced the filing of its petition for approval, saying the car is "a zero-emission, shared, electric vehicle that has been purposefully designed from the ground up to operate without a human driver. This means it does not rely on certain human-centered features, like a steering wheel or a sun visor, to operate safely." Production is expected to begin in late 2022 in Detroit at a GM factory with vehicles delivered in 2023

Social Media Influencers Promoting Crypto Can Face Class-Action Lawsuits

Every A through D list celebrity - and even those whose fame is aspirational is getting into Crypto promotion. As famous bank robber Willie Sutton said when asked why he did it, "because that's where the money is."

The problem is that investors who lose money on such investments and believe they can prove fraud are finding support in the court system which could make such promotional activity more expensive than expected. JL 

Richard Lawler reports in The Verge, Image by The Next Web:

Anyone who bought into a cryptocurrency, ICO, or “other investment” based on an online solicitation might apply to some tweets, TikToks, and YouTube videos. The appeals court found that “when the promoters urged people to buy BitConnect coins in online videos, they solicited the purchases that followed. The law is clear: promote on social media, you can and will be held liable. Soliciting investors through social media channels does not exempt that fraud from the federal securities laws.”

Porsche-Carrying Ship Fire Hard To Put Out Do To EV Batteries

The salvage company charged with saving the ship and its cargo isn't yet sure how to put out the electric vehicle batteries on fire. 

All of which raises questions about the economics - and risks - of transporting EVs around the world. JL

William Boston and Patricia Kowsmann report in the Wall Street Journal:

The large number of electric vehicles on board a ship that is drifting ablaze in the Atlantic Ocean is complicating efforts to extinguish the fire. It is unclear whether the blaze was caused by the electric cars, whose lithium-ion batteries have been known to catch fire, but the presence of burning batteries on board means the company contracted to rescue the ship, is facing fire that spreads fast and cannot be fought with water alone. “The cars are electric and part of the fire is the batteries that are still burning.”

How US Companies Are Abasing and Self-Censoring To Keep Access To China

The lure of China's 1.4 billion people has caused US companies to cave in to increasingly harsh demands from its government. 

From demanding ownership of intellectual property to denying human rights abuses - or Taiwan's existence - China has required fealty in return for access. And for the most part, US companies have complied. The question is at what point the price becomes unsustainable. JL 

German Lopez reports in the New York Times:

China’s campaign to stifle dissent is succeeding: U.S. institutions and businesses are increasingly silencing themselves to avoid angering the Chinese government. American businesses and institutions want access to this enormous market. Given China’s authoritarian leadership, that means playing by the Chinese Communist Party’s rules - and, in particular, avoiding criticism of its human rights abuses. “You try not to compromise what I’ll call values. But there are compromises that companies have to make to be global.”

The Seven Habits of the Most Covid-Resilient Countries

These lessons are not so much applicable to a country riven with distrust like the US, as indicative of what has to be achieved to heal address such challenges. 

Which also suggests how far countries like the US have to go. JL

Uri Friedman reports in The Atlantic:

Success in the 21st century will depend on a country’s ability to anticipate and absorb large-scale shocks, adapt to their disruptions, and rapidly bounce forward from them. It will depend on “resilient power.” The 7 habits are: learn from past shocks to prepare for the next crisis; channel expert advice into policy and strategy; follow the data in real time; communicate clearly and transparently; cultivate public trust in government and fellow citizens; design centralized systems sensitive to local concerns; recognize that no country can cope with shock entirely on its own.

Why Leaders Don't Have To Choose Between Compassion and Performance

In the emerging, post-Covid environment, compassion and performance are not a binary choice but a mutually reinforcing set of behaviors. 

Collaboration is an increasingly essential factor in optimizing outcomes. For it to work, leaders may not have the capacity to recognize individuals' needs, but acknowledge that the attendant uncertainty and stress require that the organization provide the tools, the support and the atmosphere necessary for everyone to contribute to success. JL

Mark Mortenson and Heidi Gardner report in Harvard Business Review:

61% of senior business leaders across industries report they’re struggling to balance employees’ need for support with their company’s drive for high performance. As a result, many leaders think in terms of a binary choice. (But) leaders need to remember this isn’t about trading off between performance and compassion, but rather about trading off between different elements within each. To deliver compassion and performance in a sustainable way, leaders need data, prioritization, setup, and collaboration. Choosing to invest time and energy in compassionate leadership will help achieve broader targets. “Tone-deaf compassion is more dangerous and costly than none at all.”

DeepMind Scientists Train AI To Manage Nuclear Fusion Reactor

Not convinced most humans will find this is as reassuring as the scientists involved may do. JL

Sam Shead reports in CNBC:

DeepMind, which is owned by Alphabet, announced that it has trained an AI system to control and sculpt a superheated plasma inside a nuclear fusion reactor. Applications of reinforcement learning “could dramatically accelerate the development of fusion reactors and, ultimately, our ability to fight global change.” The process, which releases vast amounts of energy, has been touted as a potentially limitless source of clean energy, but a number of technical challenges still need to be overcome.

Russia-Ukraine Tensions Prompt US To Test Autonomous Drone Swarms, Hypersonic Cannon

1,000 mile cannons, micro and macro drone swarms, space launched attacks - and everything potentially managed by AI. 

This is not a futuristic fantasy: all of these weapons systems are under development and some are available for deployment. JL 

Jason Sherman reports in Scientific American:

In a future fight, robotic weapons and long-range strikes (will) involve high-precision missiles, including air- and space-launched attacks. Technologies in development include swarms of autonomous drones and a supercannon that can fire a projectile to a distance of 1,000 miles. And perhaps the most staggeringly ambitious campaign aims to combine existing radar and communications with state-of-the-art cloud computing and artificial intelligence in order to create an automated system that coordinates operations across multiple combat areas.

The Cities With the Highest and Lowest Ranked Uber Passengers

A superficial inspection of the locales with the best or worst Uber passengers - as rated by Uber drivers - suggests that cities with the most traffic congestion have worse riders than do larger, more congested cities. 

Which doesn't excuse such behavior, but may explain it. JL 

Axios reports:

The lowest-ranked cities were concentrated on the coasts: New York City, Seattle, Washington, D.C., and Boston. San Antonio, Texas, had the nicest riders, according to the ride-sharing company. It beat out St. Louis, Nashville, Tennessee, and Salt Lake City. How to get a high score: Don't slam the car door, Uber says. Drivers consistently cited door slams as a reason why they deduct stars.

The Real Reason the Pandemic Killed Small Restaurants

The restaurant industry's Washington-based trade association is heavily skewed towards protecting the interests of big corporate chains and franchisees like McDonald's and TGI Fridays. 

It made sure that pandemic relief went to the chains, not to small independent mom-and-pops, which resulted in restaurant closures falling primarily primarily among the non-corporate small operations. JL

Kara Voght reports in Slate:

National chains like Applebee’s, Ruby Tuesday, and TGI Fridays received federal loans between $5 million and $10 million from pandemic relief. Subway, Dunkin’, and McDonald’s franchises received that funding, too - and more from $28.6 billion in restaurant relief. (But) half a million small independent restaurants account for 75% of eating establishments and employ 11 million. Thousands of independents are among the 90,000 restaurants closed since March of 2020, in which 2.5 million restaurant workers lost their jobs. The National Restaurant Association fiercely protected the industry's Goliaths.

The Unvaccinated Republican Covid Death Gap Remains

Those ideologically opposed to Covid vaccination remain much more likely to die from the virus. JL 

David Leonhardt reports in the New York Times:

135,000 unvaccinated Americans died unnecessarily in the last six months of last year. More Republicans than Democrats or independents have needlessly died of Covid. The toll has been even worse in counties where Trump won by a landslide than in counties that he won narrowly. Many Republicans - including those who are older than 65 and vulnerable to severe Covid - are skeptical of the vaccines. After the vaccines became widely available, in early 2021 - and liberals were much more willing to get shots than conservatives - Covid became a disproportionately Republican illness.

Immigrants Could End the US Labor Shortage - If Politicians Would Let Them

There are over a million immigrants waiting to be granted work permits. 

Political opposition on one side - and fear of criticism about laxity on the other - are preventing those people from working and reducing labor shortages. JL

Nicole Narea reports in Vox:

Amid nationwide labor shortages in critical industries, more than a million immigrants are waiting on the US government to issue them work permits. Pandemic office closures and staff shortages have created a backlog of more than 8 million applications across all types of immigration benefits — including green cards, visas, and protection from deportation — and most work permit applicants have to be photographed and fingerprinted in person. USCIS was also plagued by a budget crisis under the Trump administration