Slashdot Mirror

An anonymous reader quotes a report from CNBC: Tesla CEO Elon Musk sent an email to all employees on Monday morning about a factory fire, and seemed to reference possible sabotage. Now, CNBC has learned that Musk also sent an e-mail to all employees at Tesla late on Sunday night alleging that he has discovered a saboteur in the company's ranks. Musk said this person had conducted "quite extensive and damaging sabotage" to the company's operations, including by changing code to an internal product and exporting data to outsiders. In the email, Musk said "the investigation will continue in depth this week" to "figure out if [the saboteur] was acting alone or with others at Tesla and if he was working with any outside organizations [that want Tesla to disappear]." You can read the full email via CNBC's report.

An anonymous reader quotes a report from CNBC: Tesla CEO Elon Musk sent an email to all employees on Monday morning about a factory fire, and seemed to reference possible sabotage. Now, CNBC has learned that Musk also sent an e-mail to all employees at Tesla late on Sunday night alleging that he has discovered a saboteur in the company's ranks. Musk said this person had conducted "quite extensive and damaging sabotage" to the company's operations, including by changing code to an internal product and exporting data to outsiders. In the email, Musk said "the investigation will continue in depth this week" to "figure out if [the saboteur] was acting alone or with others at Tesla and if he was working with any outside organizations [that want Tesla to disappear]." You can read the full email via CNBC's report.

AT&T completed its $85 billion purchase of Time Warner yesterday and we're already starting to see some exclusive deals offered to its customers. CNBC reports that the company "will be launching a 'very, very skinny bundle' of television programming free to its mobile customers." From the report: "We will be launching, and you're going to hear more about this next week, a product called 'AT&T Watch TV,'" Chairman and CEO Randall Stephenson said on CNBC's "Squawk Box." "It will be the Turner content. It will not have sports. It'll be entertainment-centered." AT&T's unlimited wireless customers will get the service for free, Stephenson said, "or you can buy it for $15 a month on any platform." The service will be ad-supported, and AT&T will be ramping up an advertising platform, he said. He added that the company expects in coming weeks to make smaller acquisitions to enable those ad efforts. CNBC is also reporting that Time Warner is changing its name to WarnerMedia, and Turner Broadcasting CEO John Martin is departing the company.

AT&T completed its $85 billion purchase of Time Warner yesterday and we're already starting to see some exclusive deals offered to its customers. CNBC reports that the company "will be launching a 'very, very skinny bundle' of television programming free to its mobile customers." From the report: "We will be launching, and you're going to hear more about this next week, a product called 'AT&T Watch TV,'" Chairman and CEO Randall Stephenson said on CNBC's "Squawk Box." "It will be the Turner content. It will not have sports. It'll be entertainment-centered." AT&T's unlimited wireless customers will get the service for free, Stephenson said, "or you can buy it for $15 a month on any platform." The service will be ad-supported, and AT&T will be ramping up an advertising platform, he said. He added that the company expects in coming weeks to make smaller acquisitions to enable those ad efforts. CNBC is also reporting that Time Warner is changing its name to WarnerMedia, and Turner Broadcasting CEO John Martin is departing the company.

An anonymous reader quotes CNBC: A bullish call from a Wall Street analyst capped off a rough week for Tesla short sellers, with Nomura Instinet advising clients that the electric car maker's shares could rally 42 percent over the next year. The stock rose 1.7 percent Friday and is now up 10 percent on the week. One of the most shorted stocks in the United States, Tesla shares cost investors betting against the company more than $1 billion in losses on Wednesday alone after the stock rallied 9.7 percent. Adding to the short woes, the stock is up 13.5 percent in June and up 21 percent since April. More than 30 percent of Tesla's floating stock is currently sold short, according to FactSet.
Last week long-time Open Source advocate Bruce Perens (Slashdot reader #3,872) argued this is fueling Musk's anger at the press: [A] great many investors are desperate to see Tesla's stock reach a much lower price soon, or they'll be forced to buy it at its present price in order to fulfill their short positions, potentially bankrupting many of them and sending some out of the windows of Wall Street skyscrapers. These investors are desperately seeding, feeding, and writing negative stories about Tesla in the hope of depressing the stock price. Musk recently taunted them by buying another 10 million dollars in stock, making it even more likely that there won't be enough stock in the market to cover short positions. If that's the case, short-sellers could end up in debt for thousands of dollars per shorted share -- as the price balloons until enough stockholders are persuaded to sell. Will short-sellers do anything to give Tesla bad press? You bet.... Musk is stuck with a press that feeds negative stories about Tesla seeded by short-sellers, business competitors and the petroleum industry, and even the U.S. Government...

Musk is far from the only one who suffers from this abuse. I was personally involved while the Linux developers were hounded by bad press for years from Forbes and lesser entities, backed by a large software company we all know (and who is, surprisingly, funding more Open Source these days), based on SCO's unfounded lawsuit. Time proves them wrong, but don't expect them to admit it, nor should you hold your breath for an "I'm sorry".
And on Musk's plan to rate the credibility of news sites, Perens writes that "The world would be a better place if this was done honestly, with integrity, and well. Musk is one who has improved the world by going where conventional wisdom said he'd fail..."

An anonymous reader quotes a report from MIT Technology Review: While avoiding the worst dangers of climate change will likely require sucking carbon dioxide out of the sky, prominent scientists have long dismissed such technologies as far too expensive. But a detailed new analysis published today in the journal Joule finds that direct air capture may be practical after all. The study concludes it would cost between $94 and $232 per ton of captured carbon dioxide, if existing technologies were implemented on a commercial scale. One earlier estimate, published in Proceedings of the National Academies, put that figure at more than $1,000 (though the calculations were made on what's known as an avoided-cost basis, which would add about 10 percent to the new study's figures). Crucially, the lowest-cost design, optimized to produce and sell alternative fuels made from the captured carbon dioxide, could already be profitable with existing public policies in certain markets. The higher cost estimates are for plants that would deliver compressed carbon dioxide for permanent underground storage. David Keith, a Harvard physics professor and lead author of the paper, is also the founder of Carbon Engineering, "a Calgary-based startup that has spent the last nine years designing, refining, and testing a direct air capture pilot plant in Squamish, B.C.," reports MIT. "Carbon Engineering plans to combine the carbon captured at its plants with hydrogen to produce carbon-neutral synthetic fuels, a process the pilot facility has already been performing." The company has secured $30 million, but is seeking additional funds to build a larger facility that will begin selling fuels. CNBC notes that Carbon Engineering is owned by several private investors, including Bill Gates.

According to an annual companywide survey, obtained by CNBC, Microsoft employees said they're less fairly paid in 2018 than they were in any of the past three years. When asked if "total compensation (base pay, bonus, equity) is competitive compared to similar jobs at other companies," only 61 percent said it was, down from 65 percent in 2017 and 67 percent each of the two prior years. From the report: Additionally, just 62 percent of the employees agreed that "people are rewarded according to their job performance," down from 63 percent last year and 64 percent in 2016. Those two questions received some of the lowest scores on the survey. The company said that 86 percent of Microsoft's employees participated. The results, shared by Chief People Officer Kathleen Hogan in April, are a further indication of the challenge that Microsoft and other tech companies face in hiring and retaining top talent. Microsoft's headquarters in Redmond, Washington, is just a few miles from Amazon's home and isn't far from the Seattle offices of Google, Facebook and a growing number of start-ups. Chief People Officer Kathleen Hogan said the company takes the issue "seriously," and that it will work to ensure a more balanced pay structure.

The jobs market has reached what should be some kind of inflection point: there are now more openings than there are workers. From a report: April marked the second month in a row this historic event has occurred, and the gap is growing. According to the monthly Job Openings and Labor Turnover Survey released this week, there were just shy of 6.7 million open positions in April, the most recent month for which data are available. That represented an increase of 65,000 from March and is a record. The number of vacancies is pulling well ahead of the number the Bureau of Labor Statistics counts as unemployed. This year is the first time the level of the unemployed exceeded the jobs available since the BLS started tracking JOLTS numbers in 2000. As of April, the total workers looking and eligible for jobs fell to 6.35 million, a decrease from 6.58 million the previous month. The number fell further in May to 6.06 million, though there is no comparable JOLTS data for that month. Under normal circumstances, the mismatch would be creating a demand for higher wages. However, average hourly earnings rose just 2.7 percent annualized in May, up one-tenth of a point from April. Further reading: Why Nebraska has an amazing jobs market but nobody is moving there.

Earlier this week, a judge in Tennessee ruled that Amazon isn't liable for damages caused by a hoverboard that spontaneously exploded and burned down a family's house, even though they bought it on Amazon's website. "The plaintiff claimed that Amazon didn't properly warn her about the dangers they knew existed with the product, but the judge didn't agree," reports CNBC. At the time, hoverboards were all the rage; Amazon sold almost 250,000 of them over a 30-day period. The plaintiff claims the company had an obligation to warn customers properly about the dangers it knew existed. "[The plaintiff] bought the hoverboard on Amazon, the receipt came from Amazon, the box had an Amazon label and all the money was in Amazon's hands," adds CNBC. "[The plaintiff] has been unable to find the Chinese manufacturer of the device." From the report: It's the latest legal victory for Amazon, which has for years fended off litigation related to product quality and safety by arguing that, for a big and growing part of its business, it's just a marketplace. There are buyers on one end and sellers on the other -- the argument goes -- and Amazon connects them through a popular portal, facilitating the transaction with a sophisticated logistics system. The courts are reinforcing the power of Amazon's business model as the ultimate middleman. But for American consumers, there's growing cause for concern. [...] But if Amazon isn't liable when faulty products sold through its website cause personal injuries and property damage, customers are often left with no recourse. That's because it's frequently impossible for consumers to figure out who manufactured the defective product and hold that party responsible.

Even as cryptocurrencies continue to draw skepticism from some, at least the underlying technology, blockchain, has found yet another high-profile admirer: Chinese President. Xi Jinping said in a speech this week that blockchain has "breakthrough" applications. From a report: "A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications," he said Monday, according to a translation of his remarks. Xi also emphasized the need for China to focus on technological development and become the global center of science and innovation.

With the threat of Trump's ever-looming trade war with China and his administration's sanctions on Chinese companies like ZTE, it's hard to remember a more contentious period between the two countries in recent times. Adding fuel to the conversation, an Alibaba co-founder alleged that many Americans want to stop China from upgrading its technology and from becoming more innovative. From a report: Chinese media outlets have repeatedly asserted that American complaints about the tech sector are really just efforts to slow the country's rise as a global power. "There's nothing wrong with a country wanting to upgrade its own manufacturing sector, go higher tech, be more innovative," Tsai said. "But then, from the Chinese perspective, what we're seeing is there are a lot of people in America that want to stop China from doing that." After three decades of producing low-end manufacturing goods, Tsai said, China recognizes the need to develop better technology, upgrade its manufacturing sector and focus more on value-added areas like robotics, aeronautics and high-tech medical equipment.

Microsoft has surged 40 percent over the past 12 months to become more valuable than Alphabet. "As of Tuesday's close, Microsoft was worth $749 billion and Alphabet's market capitalization stood at $739 billion," reports CNBC. From the report: Microsoft's latest rally has been sparked by growth in its cloud computing business, which is bigger than Google's though it still trails Amazon Web Services. In March, Microsoft reorganized its Windows and Devices Group and moved its engineering resources into other units, including one focusing on cloud and artificial intelligence. Both Microsoft and Alphabet beat analysts' expectations in the first quarter. Microsoft still trails behind Apple's market valuation of $923 billion and Amazon's $782 billion market cap.

"We are now officially in a tech bubble larger than March of 2000," argues Keith Wright, instructor of accounting and information services at the Villanova School of Business. An anonymous reader quotes his commentary on CNBC: In case you missed it, the peak in the tech unicorn bubble already has been reached. And it's going to be all downhill from here. Massive losses are coming in venture capital-funded start-ups that are, in some cases, as much as 50 percent overvalued... 76% of the companies that went public last year were unprofitable on a per-share basis in the year leading up to their initial offerings, according to data compiled by Jay Ritter, a professor at the University of Florida's Warrington College of Business, and recently featured in the New York Times. This is the largest number since the peak of the dot-com boom in 2000, when 81 percent of newly public companies were unprofitable...

Several financial models project that up to 80 percent of unicorn companies are set to fail within two years. Uber, the highest-valued private technology company, has rapidly growing revenue but remains highly unprofitable. With revenue of $6.5 billion in 2016, it still registered a net loss of $2.8 billion. The truth is, when a unicorn is overvalued, it doesn't take long for the market to discover this fact.

President Donald Trump has cancelled his much anticipated meeting with North Korean leader Kim Jong Un that was scheduled to take place in Singapore on June 12, he announced moments ago. In a letter to Kim, the president said; "I was very much looking forward to being there with you. Sadly, based on the tremendous anger an open hostility displayed in your most recent statement, I feel it is inappropriate, at this time to have this long-planned meeting. Therefore, please let this letter to serve to represent that the Singapore summit, for the good of both parties, but to the detriment of the world, will not take place." He added, "You talk about your nuclear capabilities, but ours are so massive and powerful that I pray to God they will never have to be used."

After a 60 Minutes episode that focused on Google and its effective search monopoly, U.S. Treasury Secretary Steve Mnuchin called for large tech companies to be investigated for potential antitrust violations. Asked whether Google was abusing its market dominance as a monopoly, Mnuchin told CNBC on Monday "these are issues that the Justice Department needs to look at seriously," and argued that it was important to "look at the power they have" noting that companies like Google "have a greater and greater impact on the economy." The Register reports: Mnuchin's willingness to directly criticize Google and other tech companies and argue that they should be under investigation is just the latest sign that Washington DC is serious about digging in the market power of Big Internet. It is notable that it was 20 years ago, almost to the day, that America finally dealt with another tech antitrust problem when the Justice Department and 20 state attorneys general filed suit -- on May 18, 1998 -- against what was then the most powerful tech company in the country: Microsoft.

Treasury Secretary Steve Mnuchin on Monday joined the growing chorus of government officials concerned about tech monopolies. From a report: When asked if Google is a monopoly, Mnuchin said, "These are issues that the Justice Department needs to look at seriously -- not for any one company -- but obviously as these technology companies have a greater and greater impact on the economy, I think that you have to look at the power they have," Mnuchin told CNBC's "Squawk Box." Mnuchin acknowledged that antitrust matters don't fall under his jurisdiction, but said someone ought to be looking. His comments come on the heels of a "60 Minutes" segment on Google's unparalleled market share in online search. The Sunday night spot included an interview with Jeremy Stoppelman, co-founder of Yelp, which he said "would have no shot" if it were being built today.

An anonymous reader quotes a report from CNBC: Nathalie Mezza-Garcia is a political scientist turned "seavangelesse" -- her term for an evangelist in favor of living off the grid -- and on the ocean. Mezza-Garcia spoke with CNBC's Matthew Taylor about what she sees as the trouble with governments, and why she believes tech startups should head to Tahiti. This seavangelesse is a researcher for the Blue Frontiers and Seasteading Institute's highly-anticipated Floating Island Project. The project is a pilot program in partnership with the government of French Polynesia, which will see 300 homes built on an island that runs under its own governance, using a cryptocurrency called Varyon.

"Once we can see how this first island works, we will have a proof of concept to plan for islands to house climate refugees," she said. The project is funded through philanthropic donations via the Seasteading Institute and Blue Frontiers, which sells tokens of the cryptocurrency Varyon. The pilot island is expected to be completed by 2022 and cost up to $50 million. As well as offering a home for the displaced, the self-contained islands are designed to function as business centers that are beyond the influence of government regulation.

Investors have sent $1 billion into digital coin projects that flash warning signs for fraud, The Wall Street Journal reported Thursday. The revelation comes a day after the SEC created its own fake ICO to teach investors a lesson. From a report: In a review of 1,450 digital coin offerings, the Journal said it found 271 bore red flags such as plagiarized documents or fake executive information. Investors have already claimed losses of up to $273 million in these projects, the newspaper said, according to lawsuits and regulatory actions. The coin sales, or "initial coin offerings," give investors the chance to buy into a new digital token while letting developers get easy access to funding. The process may be a little too easy for many projects that are unproven or outright scams.

Coin offerings have raised roughly $9.8 billion in the two years through mid-March, according to financial research firm Autonomous Next. The Journal found widespread plagiarism in 111 projects' online whitepapers, including word-for-word copies of marketing plans and technical features.

Uber has unveiled its "flying car" concept aircraft at its second annual Uber Elevate Summit, which showcases prototypes for its fleet of airborne taxis. From a report: The flying cars, which the company hopes to introduce to riders in two to five years, will conduct vertical takeoffs and landings from skyports, air stations on rooftops or the ground. Ultimately, company officials say these skyports will be equipped to handle 200 takeoffs and landings an hour, or one every 24 seconds. At first, the flying cars will be piloted, but the company aims for the aircraft to fly autonomously. The prototypes look more like drones than helicopters, with four rotors on wings. Company officials say that will make them safer than choppers, which operate on one rotor. They'll fly 1,000 to 2,000 feet above ground and will be quieter than a helicopter, producing half the noise of a truck driving past a house.

Over 700 million devices run Windows 10, Microsoft announced on Monday at its Build developer conference. From a report: Almost exactly a year ago, that number stood at 500 million. In addition, the company also today noted that Office 365 now has 135 million monthly active commercial users, up from 120 million last October. Back in 2015, when Windows 10 launched, Microsoft's original goal was to hit a billion devices by 2018. It quickly became clear that this was a bit too optimistic. While Windows 10 usage clearly continues to grow at a decent speed, we're not likely to see it hit a billion users soon. In a wide-ranging interview with news outlet The Verge, Microsoft chief executive Satya Nadella discusses the future of Microsoft. (He gave an interview to CNBC as well.) Onstage at Build, Nadella said "privacy is a human right."

An anonymous reader quotes a report from The Wall Street Journal: In a move that could further heighten tensions with the U.S., China is poised to announce a new fund of about $47.4 billion (Warning: source may be paywalled; alternative source) to spur development of its semiconductor industry as it seeks to close the technology gap with the U.S. and other rivals, according to people familiar with the matter. The new war chest by the government-backed China Integrated Circuit Industry Investment Fund Co. follows a similar fund launched in 2014 that raised $21.8 billion, largely funded by central and local government-backed enterprises and industry players. Among other efforts, the fund would be used to improve China's ability to design and manufacture advanced microprocessors and graphic-processing units, one of the people said. Specific details including the amount could change, another person said.

An anonymous reader writes: Pandora's stock had its best day ever on Wall Street, rising more than 25% after reporting their subscription and other revenue had surged 61.3 percent to $104.7 million. Previous users have apparently been lured back with targeted marketing touting a new service that lets users briefly play their favorite songs on demand if they'll watch a short ad. "Pandora said it ended the quarter with 5.63 million subscribers to its Pandora Plus and Pandora Platinum paid services, which was 19 percent higher than the same period a year ago," reports one Silicon Valley newspaper. March saw more former users returning than in the same month a year ago -- for the first time in 18 months.

And an important factor was switching from brand-based marketing to data-based marketing -- that is, "using the information that Pandora has on users' listening preferences." Pandora's Chief Executive brags to MarketWatch that "We really have world-class data-science capabilities. We just never used them in our own marketing."
Engadget reports: Revenue for the quarter rose to $319.2 million, up 12 percent over the first quarter of 2017... But Pandora is still losing money. The company posted a net loss of $131.7 million, a slight improvement on the $132.3 million loss in Q1 2017. Overall engagement is down year-over-year, with active listeners dropping 4 percent to 72.3 million. Listener hours dipped from 5.21 billion to 4.96 billion.

A Google executive found a high-end Bluetooth headset selling at a steep discount on Google Shopping website earlier this year. He placed the order, but much to his surprise, the headset never arrived at his doorstep. He tried calling the seller, but it turned out that the number listed on the website was disconnected, and the merchant wasn't based in the US, as the website had indicated. Instead of kicking the seller off the website, Google launched an investigation and it soon realized the problem ran too deep. From a report: But instead of simply banning the bad actor from listing new products, Google Shopping's trust and safety team initiated a global probe that ultimately tracked down 5,000 merchant accounts wrapped up in a sophisticated scheme to defraud users. "I think we caught them right at the tip of when they were trying to scale up," Saikat Mitra, Google Shopping's director of trust and safety, told CNBC. The story, which Mitra is sharing publicly for the first time, reflects Google's never-ending battle against scams, a fight that requires engineers and their increasingly sophisticated machine learning tools.

It also illustrates the risks that consumers face as Google aggressively tries to win back product searches from Amazon and stay relevant in the future of e-commerce. Although Google Shopping may look like a marketplace, it really isn't. Amazon and eBay operate shopping platforms that connect sellers with buyers and offer protections like money-back guarantees. Google, by contrast, sends shoppers off its site after they click on an item, and thus has no visibility into what happens after the transaction.

UK officials said Tuesday they will summon Facebook CEO Mark Zuckerberg to testify before Parliament the next time he's in British territory if he does not volunteer to do so. From a report: It would be the first governmental summons for Zuckerberg in the fallout of the Cambridge Analytica data leak and widespread concerns around user privacy. "It's worth noting that, while Mr. Zuckerberg does not normally come under the jurisdiction of the UK Parliament, he will do so the next time he enters the country," Damian Collins, a member of the UK Parliament, wrote in a letter published Tuesday. "There are over 40 million Facebook users in the UK and they deserve to hear accurate answers from the company he created and whether it is able to keep their users' data safe," Collins wrote.

EzInKy writes: Effective on May 11, Jeff Bezos says the price of Prime membership will increase to $119 from $99. Now, as much as I have enjoyed the free shipping over these many years, I just don't believe that benefit outweighs the increased cost of membership. Existing Prime members will have until June 16 to renew their membership at the current $99 price-point, notes CNBC. In its first quarter earnings call, Amazon attributed the price increase to the service's rising costs, noting that this was its first price hike since March 2014.

EzInKy writes: Effective on May 11, Jeff Bezos says the price of Prime membership will increase to $119 from $99. Now, as much as I have enjoyed the free shipping over these many years, I just don't believe that benefit outweighs the increased cost of membership. Existing Prime members will have until June 16 to renew their membership at the current $99 price-point, notes CNBC. In its first quarter earnings call, Amazon attributed the price increase to the service's rising costs, noting that this was its first price hike since March 2014.

Snapchat is launching an updated version of Spectacles, its glasses with an embedded camera, and says its first version of the smart glasses sold over 220,000 units. From a report: That first version also caused the company to take a nearly $40 million write-down in the third quarter due to excess inventory. But instead of scrapping its hardware unit, the company is pressing ahead. Snap "listened to our customers and our community and incorporated every part of their feedback," said Mark Randall, Snapchat's vice president of hardware. The new version costs $150 -- $20 more than the prior version. They come in three new colors (onyx, ruby, and sapphire), are water resistant and can take photos and videos in high definition. Plus the content transfers much faster.

mi shares a report from The Chronicle of Higher Education: Drew Cloud is everywhere. The self-described journalist who specializes in student-loan debt has been quoted in major news outlets, including The Washington Post, The Boston Globe, and CNBC, and is a fixture in the smaller, specialized blogosphere of student debt. But he's a fiction, and "his" site -- an invention of a student-loan refinancing company.

"Drew Cloud is a pseudonym that a diverse group of authors at Student Loan Report, LLC use to share experiences and information related to the challenges college students face with funding their education," wrote Nate Matherson, CEO of LendEDU (the company that owns Cloud's website, The Student Loan Report). Before that admission, however, Cloud had corresponded at length with many journalists, pitching them stories and offering email interviews, many of which were published. When The Chronicle attempted to contact him through the address last week, Cloud said he was traveling and had limited access to his account. He didn't respond to additional inquiries. And on Monday, as The Chronicle continued to seek comment, Cloud suddenly evaporated. His once-prominent placement on The Student Loan Report had been removed. His bylines were replaced with "SLR Editor." Matherson confirmed on Tuesday that Cloud was an invention. Pressed on whether he regretted deceiving news organizations with a fake source, Matherson said Cloud "was created as a way to connect with our readers (ex. people struggling to repay student debt) and give us the technical ability to post content to the Wordpress website."

The Democratic Party is suing Russia, the Trump campaign and the whistle-blowing website Wikileaks for conspiring to disrupt the 2016 presidential election. From a report: The multi-million-dollar lawsuit filed in Manhattan federal court says that "In the Trump campaign, Russia found a willing and active partner in this effort" to mount "a brazen attack on American Democracy," which included Russian infiltration of the Democratic Party computer network. The Trump campaign, according to the lawsuit, "gleefully welcomed Russia's help." The suit says that "preexisting relationships with Russia and Russian oligarchs" with Trump and Trump associates "provided fertile ground for [the] Russia-Trump conspiracy." The common purpose of the scheme, according to the Democratic National Committee, was to "bolster Trump and denigrate the Democratic Party nominee," Hillary Clinton, while boosting the candidacy of Trump, "whose policies would benefit the Kremlin." Tom Perez, chairman of the Democratic National Committee, said the party's suit "is not partisan, it's patriotic."

Major Blud writes: CNBC is reporting that Amazon Business, which considered selling pharmaceutical products last year, has put its plans to do so on hiatus. "The change in plan comes partly because Amazon has not been able to convince big hospitals to change their traditional purchasing process, which typically involves a number of middlemen and loyal relationships," reports CNBC. Amazon was able to gain licensing in 47 out of the 50 U.S. states, but has struggled to land contracts with large hospital networks. "The setback illustrates the challenges of getting into the medical supply and pharmaceutical space, even for a company as big as Amazon," reports CNBC. "Several health-care and pharmaceutical distribution companies saw their stock take a nosedive following recent reports of Amazon potentially getting into the space, but it will likely take some time before those concerns turn into real threats."

An anonymous reader quotes a report from CNBC: The IRS will give last-minute filers additional time to file their tax returns after the page for paying their tax bills using their bank accounts crashed, Treasury Secretary Steven Mnuchin told the Associated Press. The IRS "Direct Pay" page allows filers to transfer funds from their checking or savings account to pay what they owe. As of 5 p.m. ET on April 17 -- Tax Day -- the page was still unavailable. Direct Pay is a free service. The "Payment Plan" page, where filers can pay their tax bill in installments also appears to have crashed. "I'd strongly advise folks who owe any federal taxes and cannot pay online to mail a check or money order to the IRS to the appropriate address," said Patrick Thomas, director of Notre Dame Law School's Tax Clinic. According to a TurboTax spokesperson, the IRS's technical difficulties are affecting all tax preparers and tax returns. "Taxpayers should go ahead and continue to prepare and file their taxes as normal with TurboTax," the spokesperson said. "TurboTax has uninterrupted service and is available and accepting e-filed returns," she said. "We will hold returns until the IRS is ready to begin accepting them again." H&R Block said it will continue to accept returns from filers.

An anonymous reader shares a report: Online payments on IRS.gov are partially down. But the government still expects its money. A page on the IRS website that allows taxpayers to make a payment is not working for many as of Tuesday morning. Clicking on "Make a payment" on the payments page redirects the user to a page titled "unplannedOutagePage. Note that your tax payment is due although IRS Direct Pay may not be available," the page notes. UPDATE 04/17/18: Treasury Secretary Steven Mnuchin told the Associated Press that online tax filers will get an extension due to today's website outage.

Digital currency exchange Coinbase announced today that it has acquired Earn.com, a portal that allows people to make money by answering emails or completing other tasks. Coinbase did not disclose the terms of the deal but according to Recode, the offer was more than $100 million. As part of the acquisition, the crypto company will bring on Earn's founder and CEO Balaji Srinivasan as its first-ever chief technology officer. From the report: Srinivasan will act as "technological evangelist" for both the industry, and for Coinbase in his new role, the company said. "Balaji has become one of the most respected technologists in the crypto field and is considered one of the technology industry's few true originalists," Coinbase CEO Brian Armstrong said in a blog post Monday. Srinivasan holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering from Stanford University, and has taught courses in data mining, stats, genomics, blockchain at his alma mater. He will also be responsible for recruiting more talent, an effort that the San Francisco-based company has beefed up in recent months.

In an April 10 report for biotech clients, Goldman Sachs analysts noted that one-shot cures for diseases are not great for business as they're bad for longterm profits. The investment banks' report, titled "The Genome Revolution," asks clients: "Is curing patients a sustainable business model?" The answer may be "no," according to follow-up information provided. Slashdot reader tomhath shares the report from Ars Technica: Analyst Salveen Richter and colleagues laid it out: "The potential to deliver 'one shot cures' is one of the most attractive aspects of gene therapy, genetically engineered cell therapy, and gene editing. However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies... While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow."

For a real-world example, they pointed to Gilead Sciences, which markets treatments for hepatitis C that have cure rates exceeding 90 percent. In 2015, the company's hepatitis C treatment sales peaked at $12.5 billion. But as more people were cured and there were fewer infected individuals to spread the disease, sales began to languish. Goldman Sachs analysts estimate that the treatments will bring in less than $4 billion this year. [Gilead]'s rapid rise and fall of its hepatitis C franchise highlights one of the dynamics of an effective drug that permanently cures a disease, resulting in a gradual exhaustion of the prevalent pool of patients," the analysts wrote. The report noted that diseases such as common cancers -- where the "incident pool remains stable" -- are less risky for business.

Northrop Grumman built and operated the components that failed during the controversial January launch of the U.S. spy satellite known as Zuma, WSJ reported over the weekend. From a report: Two independent investigations, made up of federal and industry officials, pointed to Northrop's payload adapter as the cause of the satellite's loss, the report said, citing people familiar with the probes. The payload adapter is a key part of deploying a satellite in orbit, connecting the satellite to the upper stage of a rocket. Zuma is believed to have cost around $3.5 billion to develop, according to the report. The satellite was funded through a process that received a lesser degree of oversight from Congress compared with similar national security-related satellites, industry officials said.

Facebook suspended a company from its site over the weekend while it investigates claims it harvested user information under the guise of academic research, in a case with echoes of the Cambridge Analytica scandal. From a report: Facebook is suspending a data analytics firm called CubeYou from the platform after CNBC notified the company that CubeYou was collecting information about users through quizzes. CubeYou misleadingly labeled its quizzes "for non-profit academic research," then shared user information with marketers. The scenario is eerily similar to how Cambridge Analytica received unauthorized access to data from as many as 87 million Facebook user accounts to target political marketing. CubeYou, whose CEO denies any deception, sold data that had been collected by researchers working with the Psychometrics Lab at Cambridge University, similar to how Cambridge Analytica used information it obtained from other professors at the school for political marketing.

Coinbase announced today that it is launching a new incubator fund for early-stage startups. "We're going to invest off our balance sheet into crypto companies," Coinbase President and COO Asiff Hirji told CNBC's "Fast Money" Thursday. "We will invest in companies that are in the space and are aligned with our values." From the report: Profits from the fund will be "de minimis" in the scope of the entire company but the fund is already off to a $15 million start and set to grow, Hirji said. The fund's seed-stage investments, which will begin this week, will help companies and founders in the crypto and blockchain space get off the ground. It's also meant to focus on building relationships within that ecosystem, he said. In order to do that, Coinbase could be investing in its competitors.

"You may also see us invest in companies that ostensibly look competitive with Coinbase," the San Francisco-based company said in a blog post. "We're taking a long term view of the space, and we believe that multiple approaches are healthy and good." Hirji emphasized that Coinbase Ventures is searching for founders, not the next money-making cryptocurrency. "By giving them access to capital we hope that they will grow great businesses," he said. "It's not about investing in the token, it's not about trying to line up tokens that we would put on our exchange."

Coinbase announced today that it is launching a new incubator fund for early-stage startups. "We're going to invest off our balance sheet into crypto companies," Coinbase President and COO Asiff Hirji told CNBC's "Fast Money" Thursday. "We will invest in companies that are in the space and are aligned with our values." From the report: Profits from the fund will be "de minimis" in the scope of the entire company but the fund is already off to a $15 million start and set to grow, Hirji said. The fund's seed-stage investments, which will begin this week, will help companies and founders in the crypto and blockchain space get off the ground. It's also meant to focus on building relationships within that ecosystem, he said. In order to do that, Coinbase could be investing in its competitors.

"You may also see us invest in companies that ostensibly look competitive with Coinbase," the San Francisco-based company said in a blog post. "We're taking a long term view of the space, and we believe that multiple approaches are healthy and good." Hirji emphasized that Coinbase Ventures is searching for founders, not the next money-making cryptocurrency. "By giving them access to capital we hope that they will grow great businesses," he said. "It's not about investing in the token, it's not about trying to line up tokens that we would put on our exchange."

Facebook was in talks with top hospitals and other medical groups as recently as last month about a proposal to share data about the social networks of their most vulnerable patients, CNBC reported on Thursday. From the story: Facebook was intending to match it up with user data it had collected, and help the hospitals figure out which patients might need special care or treatment. The proposal never went past the planning phases and has been put on pause after the Cambridge Analytica data leak scandal raised public concerns over how Facebook and others collect and use detailed information about Facebook users. "This work has not progressed past the planning phase, and we have not received, shared, or analyzed anyone's data," a Facebook spokesperson told CNBC. But as recently as last month, the company was talking to several health organizations, including Stanford Medical School and American College of Cardiology, about signing the data-sharing agreement.

Longtime Slashdot reader lalleglad writes: SpaceX today launched a Falcon 9 with its 14th Resupply Services mission. I saw it went well, and I hope it will also attach to the International Space Station (ISS) in good order. Incidentally, it carries the Atmosphere-Space Interactions Monitor (ASIM), which is an European Space Agency (ESA) project to investigate Earth-to-space lighting and thunder. Let's hope that it will enable better weather movement understanding, and for us plain people, better weather forecasts! "The Falcon 9 rocket, whose first stage launched ISS supplies last August, fired nine Merlin main engines again to roar from Launch Complex 40 at 4:30 p.m.," reports Florida Today. "Ten minutes later, the unmanned Dragon capsule, which launched to the ISS two years earlier, floated free of the rocket's upper stage to start a two-day journey back to the orbiting research complex. It was the second time a recycled Falcon 9 and Dragon had launched together, and the 11th time in just over a year that SpaceX had re-launched a used -- or what the company prefers to call 'flight proven' -- rocket." CNBC notes that the CRS-14 launch was the company's seventh successful mission this year. You can watch the recorded livestream of the launch here.

Hudson's Bay said on Sunday that data from card payments in some of its Saks and Lord & Taylor stores in North America had been compromised. From a report: A well-known ring of cybercriminals has obtained more than five million credit and debit card numbers from customers of Saks Fifth Avenue and Lord & Taylor, according to a cybersecurity research firm that specializes in tracking stolen financial data. The data, the firm said, appears to have been stolen using software that was implanted into the cash register systems at the stores and that siphoned card numbers until last month. The Hudson's Bay Company, the Canadian corporation that owns both retail chains, confirmed on Sunday that a breach had occurred.

"We have become aware of a data security issue involving customer payment card data at certain Saks Fifth Avenue, Saks Off 5th and Lord & Taylor stores in North America," the company said in a statement. "We have identified the issue, and have taken steps to contain it. Once we have more clarity around the facts, we will notify our customers quickly and will offer those impacted free identity protection services, including credit and web monitoring."

Scientists haven't rendered a verdict on whether coffee is good or bad for you but a California judge has. He says coffee sellers in the state should have to post cancer warnings. From a report: The culprit is a chemical produced in the bean roasting process that is a known carcinogen and has been at the heart of an eight-year legal struggle between a tiny nonprofit group and Big Coffee. The Council for Education and Research on Toxics wanted the coffee industry to remove acrylamide from its processing -- like potato chip makers did when it sued them years ago -- or disclose the danger in ominous warning signs or labels. The industry, led by Starbucks, said the level of the chemical in coffee isn't harmful and any risks are outweighed by benefits. Los Angeles Superior Court Judge Elihu Berle said Wednesday that the coffee makers hadn't presented the proper grounds at trial to prevail.

The Federal Communications Commission on Thursday approved an application by Elon Musk's SpaceX, allowing the aerospace company to provide broadband services using satellites in the U.S. and worldwide. "With this action, the Commission takes another step to increase high-speed broadband availability and competition in the United States," the FCC said in a statement. CNBC reports: This marks the first time the FCC has allowed a U.S.-licensed satellite constellation to provide broadband services through low-Earth orbit satellites. "We appreciate the FCC's thorough review and approval of SpaceX's constellation license. Although we still have much to do with this complex undertaking, this is an important step toward SpaceX building a next-generation satellite network that can link the globe with reliable and affordable broadband service, especially reaching those who are not yet connected," Gwynne Shotwell, President and Chief Operating Officer at SpaceX said in a statement.

SpaceX will begin launching the constellation it dubbed "Starlink" in 2019. The system will be operational once at least 800 satellites are deployed. Starlink will offer broadband speeds comparable to fiber optic networks.The satellites would offer new direct to consumer wireless connections, rather the present system's redistribution of signals, transforming a traditionally high-cost, low reliability service.

Yesterday Dropbox finally launched its stock on NASDAQ. Reuters reports: Dropbox Inc's shares closed at $28.42, up more than 35 percent in their first day of trading on Friday, as investors rushed to buy into the biggest technology initial public offering in more than a year even as the wider sector languished... At the stock's opening price, Dropbox had a market valuation of $12.67 billion, well above the $10 billion valuation it had in its last private funding round... It has yet to turn a profit, which is common for startups that invest heavily in growth. As a public company Dropbox will be under pressure to quickly trim its losses. The 11-year old company reported revenue of $1.11 billion in 2017, up from $844.8 million a year earlier. Its net loss nearly halved from $210.2 million in 2016.
CNBC reports that Y Combinator almost passed on a chance to invest in Dropbox -- which became its first IPO ever -- "because it had misgivings about bringing on a solo entrepreneur." After Drew Houston, the creator of Dropbox, scrambled to find a co-founder in time for his in-person interview, the company was admitted into YC in 2007. Four years later, venture capitalists poured money into Dropbox at a $4 billion valuation. YC has since become a power player in Silicon Valley, helping spawn numerous companies valued at over $1 billion today including Stripe, Airbnb, Instacart and Coinbase. It also backed Twitch, which Amazon acquired in 2014 for about $970 million, and the self-driving tech start-up Cruise, which GM bought in 2016 for over $1 billion. But in its 13-year history, YC had yet to see any of its companies go public until Dropbox's stock market debut on Friday...

Houston is now worth over $3 billion and co-founder Arash Ferdowsi owns shares valued at more than $1 billion.
Dropbox's Twitter feed posted a video from their NASDAQ debut, adding "We're so thankful for the 500 million registered users who helped us get here."

U.K. Finance Minister Philip Hammond unveiled a task force that examines the risks and benefits of cryptocurrencies on Thursday. From a report: Hammond announced Thursday that the task force includes Britain's central bank, the Bank of England (BOE), and the Financial Conduct Authority (FCA) watchdog. He said that the BOE and FCA would also take the "first steps" toward automating financial compliance in Britain. The cryptocurrency task force is part of a wider fintech, or financial technology, strategy laid out by Westminster. As part of its initiative, the U.K. signed an agreement dubbed a "fintech bridge" with Australia on Thursday that will enable British fintech firms to sell products and services in Australia. The deal will also look to build cooperation on policies and regulation surrounding the sector, Hammond said. Hammond said he wanted to make the U.K. the "most attractive home" for global fintech firms.

Amazon has passed Alphabet to become the second most valuable company in the world. Apple remains the only other company more valuable than Amazon. CNBC reports: The e-commerce giant rose 2.7 percent on Tuesday lifting its stock market value to $768 billion. Alphabet, the parent of Google, fell 0.4 percent and is now valued at $762.5 billion. While the U.S. tech mega-caps have rallied in the past year, Amazon's performance has dwarfed them all, with the stock surging 85 percent over the past 12 months, including 35 percent to start 2018. Investors have been piling into Amazon, betting that the company's growing and very profitable cloud computing business will provide the cash needed for investments in original content, physical stores and continuing to build data centers and warehouses.

Google is launching the Google News Initiative, a journalism-focused program that will help publishers earn revenue and combat fake news. From a report: The initiative, announced Tuesday, will offer publications another monetization model online called Subscribe with Google, as well as work with established universities and groups to combat misinformation. It will also introduce an open-source tool called Outline, which will make it easier for news organizations to set up secure access to the internet for their journalists. Google said it was committing $300 million over the next three years to the project, though it did not elaborate on how the resources would be spent.

The company said it paid $12.6 billion to news organizations and drove 10 billion clicks a month to their websites for free last year. Subscribe with Google will make it easier for readers to pay for content from news organizations that have agreed to partner with the company. FT.com, The Washington Post, and McClatchy Company publications including the Miami Herald are among the 17 launch partners.

An anonymous reader quotes a report from CNBC: President Donald Trump issued an executive order Monday banning any transactions within the United States involving any digital currency issued by, for, or on behalf of the Government of Venezuela. The order applies to U.S. citizens as well as anyone within the United States, and includes cryptocurrency issued on or after January 9. President Trump's order is in response to recent attempts by Venezuelan President Nicolas Maduro's regime to "circumvent U.S. sanctions by issuing a digital currency," the White House said in a statement. Venezuela launched its oil-backed cryptocurrency in February to help pull the country out of a continuing economic crisis. President Maduro said each petro token will be backed by one barrel of the state's national petroleum. Maduro also said roughly 100 million tokens would be issued -- estimated to be worth around $6 billion. Bitcoin prices dropped about $200 to around $8,388, according to Coinbase, following the order.

Several current and former employees of Tesla said that the automaker is manufacturing a surprisingly high ratio of flawed parts and vehicles, leading to more rework and repairs than can be contained at its factory in Fremont, California. CNBC reports: One current Tesla engineer estimated that 40 percent of the parts made or received at its Fremont factory require rework. The need for reviews of parts coming off the line, and rework, has contributed to Model 3 delays, the engineer said. Another current employee from Tesla's Fremont factory said the company's defect rate is so high that it's hard to hit production targets. Inability to hit the numbers is in turn hurting employee morale. To deal with a backlog of flawed parts and vehicles, said these current and former employees, Tesla has brought in teams of technicians and engineers from its service centers and remanufacturing lines to help with rework and repairs on site in Fremont. They also said that sometimes the luxury EV maker has taken the unusual measure of sending flawed or damaged parts from Fremont to its remanufacturing facility in Lathrop, California, about 50 miles away, instead of fixing those parts "in-line." Tesla flatly denies that its remanufacturing teams engage in rework. "Our remanufacturing team does not 'rework' cars," a spokesperson said. The company said the employees might be conflating rework and remanufacturing. It also said every vehicle is subjected to rigorous quality control involving more than 500 inspections and tests. The report from CNBC has caused Tesla's stock to tumble today. You can read Tesla's full statement about the CNBC report here.

Google is cracking down on cryptocurrency-related advertising. From a report: The company is updating its financial services-related ad policies to ban any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets, and trading advice, Google's director of sustainable ads, Scott Spencer, told CNBC. That means that even companies with legitimate cryptocurrency offerings won't be allowed to serve ads through any of Google's ad products, which place advertising on its own sites as well as third-party websites. This update will go into effect in June 2018, according to a company post. "We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," Scott said.