Techmeme
October 11, 2023, 12:30 PM

Top News

Bloomberg:
Day two of Caroline Ellison's testimony: “stressed out” by Alameda losses, Alameda borrowed $13B from FTX users by June 2022, and $5B loaned to FTX executives  —  - Ellison takes witness stand for second day at SBF trial  — Prosecutors look at events from 2022 when crypto prices fell
New York Times:
Caroline Ellison testifies that SBF “directed” her to commit crimes, like using FTX client funds for Alameda Research's venture investments and loan repayments  —  Ms. Ellison, who also dated Mr. Bankman-Fried, is the government's star witness in the criminal fraud trial of the founder of the FTX crypto exchange.
Shaurya Malwa / CoinDesk:
CNN:
Letter: Thierry Breton warns Elon Musk that X could face penalties under the DSA for hosting “illegal content and disinformation” about the Israel-Hamas war  —  European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation …
Steven Scheer / Reuters:
Wall Street Journal:
Paul Kunert / The Register:
Bernstein estimates Google pays Apple $18B to $20B per year, or 14% to 16% of Apple's operating profits, for default search; the DOJ values the deal at ~$10B  —  Bernstein estimates value of agreement, warns it and similar deals may end if DoJ wins antitrust case
Leah Nylen / Bloomberg:
Jez Corden / Windows Central:
Sources: at an Activision townhall hosted by James Corden, Bobby Kotick discussed Microsoft, Elon Musk's Neuralink, hinted at a Guitar Hero revival, and more  —  Kotick and Corden (not me) discuss the future of Activision.  —  What you need to know  — Sources familiar …
Emilia David / The Verge:
Adobe developed a new symbol, called “an icon of transparency”, as part of the C2PA, hoping to encourage the tagging of AI-generated data in media content  —  Adobe and other companies have established a symbol that can be attached to content alongside metadata, establishing its provenance …
Elizabeth Lopatto / The Verge:
California Governor Newsom signs the Right to Repair Act into law, effective for devices made and sold after July 1, 2021, minus game consoles and alarm systems  —  California Governor Gavin Newsom has signed SB 244, or the Right to Repair Act, into law, making it easier for owners …
Queenie Wong / Los Angeles Times:
Dominic-Madori Davis / TechCrunch:
BBC:
Study: if AI growth continues at its current rate, by 2027 the industry could consume as much energy as a small country like the Netherlands, or 85-134 TWh/year  —  The artificial intelligence (AI) industry could consume as much energy as a country the size of the Netherlands by 2027, a new study warns.
Anna Irrera / Bloomberg:
JPMorgan says BlackRock used its TCN blockchain to move collateral almost instantaneously, compared with over the course of a day, and plans to add other users  —  - Tech could speed transactions, see more efficient capital use  — JPMorgan had tested its Tokenized Collateral Network in May
Paresh Dave / Wired:
Spiegel Online:
An investigation details the Intellexa Alliance, a shady group of European companies that marketed and sold spyware like Predator to authoritarian regimes  —  The Intellexa Alliance is the name of the shady group of European companies that supplies dictators and despots with cyberweapons.
David Shepardson / Reuters:
Utah sues TikTok, accusing the company of getting kids hooked via “algorithms and manipulative design features”, after similar lawsuits by Indiana and Arkansas  —  Utah sued Chinese-owned app TikTok on Tuesday, accusing it of harming children by intentionally keeping young users …
Abner Li / 9to5Google:
After a US judge invalidates Sonos' patents, Google brings back support for multiple Speaker Groups across Nest speakers, Nest displays, and Chromecast devices  —  Just last month, Google was forced to limit Nest and Home devices to one Speaker Group in response to the Sonos lawsuit.
Yoolim Lee / Bloomberg:
Samsung reports Q3 operating income fell 78% QoQ to ~$1.8B and revenue fell 13% QoQ to ~$49.6B, suggesting the global chip market may have started to recover  —  - Profit fall of 78% smaller than prior quarter's record plunge  — AI-related demand seen key to memory chip price recovery
Kyle Chayka / New Yorker:
As social networks become cluttered with ads, misinformation, and irrelevant posts, the web just feels less fun, suggesting the old era of social media is over  —  The social-media Web as we knew it, a place where we consumed the posts of our fellow-humans and posted in return, appears to be over.
Caitlin Huston / Hollywood Reporter:
The FTC proposes a new rule to require ticket sellers and others to show the total price to users upfront; Ticketmaster and SeatGeek have pledged all-in pricing  —  Ticketmaster and SeatGeek have already pledged to offer all-in pricing, but the rule would broaden it to other companies and industries.

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Earlier Picks

Kirsten Korosec / TechCrunch:
Amanda Hoover / Wired:
Jonathan Greig / The Record: