The Almighty Buck

The Silicon Valley Paradox: One In Four People Are At Risk of Hunger (theguardian.com) 52

Zorro shares a report from The Guardian: One in four people in Silicon Valley are at risk of hunger, researchers at the Second Harvest food bank have found. Using hundreds of community interviews and data modeling, a new study suggests that 26.8% of the population -- almost 720,000 people -- qualify as "food insecure" based on risk factors such as missing meals, relying on food banks or food stamps, borrowing money for food, or neglecting bills and rent in order to buy groceries. Nearly a quarter are families with children. "We call it the Silicon Valley paradox," says Steve Brennan, the food bank's marketing director. "As the economy gets better we seem to be serving more people." Since the recession, Second Harvest has seen demand spike by 46%. The bank is at the center of the Silicon Valley boom -- both literally and figuratively. It sits just half a mile from Cisco's headquarters and counts Facebook's Sheryl Sandberg among its major donors. But the need it serves is exacerbated by this industry's wealth; as high-paying tech firms move in, the cost of living rises for everyone else.

The scale of the problem becomes apparent on a visit to Second Harvest, the only food bank serving Silicon Valley and one of the largest in the country. In any given month it provides meals for 257,000 people -- 66m pounds of food last year. Because poverty is often shrouded in shame, their clients' situations can come as a surprise. "Often we think of somebody visibly hungry, the traditional homeless person," Brennan said. "But this study is putting light on the non-traditional homeless: people living in their car or a garage, working people who have to choose between rent and food, people without access to a kitchen."

Government

Trump Signs Law Forcing Drone Users To Register With Government (thehill.com) 180

President Trump signed a sweeping defense policy bill into law on Tuesday that will allow the government to require recreational drone users to register their model aircraft. This comes after a federal court ruled in May that Americans no longer have to register non-commercial drones with the Federal Aviation Administration (FAA) "because Congress had said in a previous law that the FAA can't regulate model aircraft," reports The Hill. From the report: In December 2015, the FAA issued an interim rule requiring drone hobbyists to register their recreational aircraft with the agency. The rule -- which had not been formally finalized -- requires model aircraft owners to provide their name, email address and physical address; pay a $5 registration fee; and display a unique drone ID number at all times. Those who fail to comply could face civil and criminal penalties. While Congress directed the FAA to safely integrate drones into the national airspace in a 2012 aviation law, lawmakers also included a special exemption to prevent model aircraft from being regulated. A D.C.-based appeals court cited the 2012 law in its ruling striking down the FAA drone registry, arguing that recreational drones count as model aircraft and that the registry counts as a rule or regulation.
Social Networks

Instagram Will Now Let You Follow Hashtags In Your Main Feed (theverge.com) 11

"Up until now, there were two ways to interact with a hashtag," reports The Verge. "You could click through a hashtag on a post, or you could search for a specific tag in the Explore section of the app." Today, Instagram is adding a new way to interact with a hashtag: the ability to follow hashtags so you can see top posts and Stories about a topic on your home page. From the report: You can now "follow" a hashtag the same way you would follow an account. Instagram's algorithms will then pick and choose some of the highlights from that collection and surface them in your main feed. It's a fundamental change to one of the largest social media platforms in the world, elevating your interest in adorable dogs or expensive automobiles to equal status with your friends and family. By contrast, the posts injected into my main feed based on the hashtags I chose to follow (#modernart, #bjj, #ancient) felt carefully curated. There is a lot of variety, even within those categories, but you can train the algorithm on what you do and don't like. Engage with the post by leaving a heart or a comment, and Instagram will assume you want more. Click the menu button on the top right of the post, and you can downvote the offending image by asking Instagram not to show you similar content for that hashtag again. After a few days of this, the art in my feed, both martial and modern, felt fine-tuned to my taste.
Businesses

Trump Signs Into Law US Government Ban on Kaspersky Lab Software (reuters.com) 76

President Donald Trump signed into law on Tuesday legislation that bans the use of Kaspersky Lab within the U.S. government, capping a months-long effort to purge the Moscow-based antivirus firm from federal agencies amid concerns it was vulnerable to Kremlin influence. From a report: The ban, included as part of a broader defense policy spending bill that Trump signed, reinforces a directive issued by the Trump administration in September that civilian agencies remove Kaspersky Lab software within 90 days. The law applies to both civilian and military networks. "The case against Kaspersky is well-documented and deeply concerning. This law is long overdue," said Democratic Senator Jeanne Shaheen, who led calls in Congress to scrub the software from government computers. She added that the company's software represented a "grave risk" to U.S. national security.
Twitter

Twitter Officially Launches 'Threads,' a New Feature For Easily Posting Tweetstorms (techcrunch.com) 27

New submitter FatdogHaiku writes: For those people that must use multiple tweets to rant (or educate) on Twitter, a feature called "Threads" is being rolled out to aid in creating "tweetstorms" (i.e. gang tweets). Given how tweetstorms are normally used, how about we call them twitphoons? TechCrunch explains just how easy to use the new threads feature is: "There's now a new plus ('+') button in the composer screen where you can type out your series of tweets. Each line represents one tweet, with a character limit of 280 as per usual. You can also add the same amount of media -- like GIFs, images, videos, and more -- to any individual tweet in the thread, as you could on Twitter directly. When you're finished with one tweet, you just tap in the space below to continue your thread. While writing out your tweetstorm, you can go back and edit the tweets at any time as they're still in draft format. When you're ready to post, you tap the 'Tweet all' button at the top to send the stream to Twitter. (Twitter will pace the tweets' posting a bit so they don't all hit at once.)"

"In addition, another handy feature allows you to go back and update a thread by adding new tweets after it already posted," adds TechCrunch. "To do so, you'll write out the new tweet after tapping the 'Add another Tweet' button. This lets you continue to update a thread forever -- something Twitter CEO Jack Dorsey already does with his own threads, for example. Twitter tells us there's currently a limit of 25 entries in a thread, but that number may be subject to change depending on how the feature is adopted by the wider user base."
Businesses

Former Uber Employees Have Gone Into Debt To Hang Onto Shares They Can't Sell (qz.com) 49

An anonymous reader quotes a report from Quartz: Uber employees are lining up to sell their stock to Japanese technology giant SoftBank, which will buy up to 17% of outstanding shares for $33 each. The price represents a 30% discount to Uber's last valuation, of nearly $70 billion, but for current and former employees, the SoftBank tender offer is a rare chance to convert paper wealth into actual cash. To qualify for the tender offer, participants must have at least 10,000 Uber shares and be "accredited investors," an SEC designation (pdf) for wealthy individuals. Current Uber employees can't sell more than half of their stake; there are no restrictions on former employees. The deal is on the table until Dec. 28, and could fall through if there aren't enough shares on offer for SoftBank and a small consortium of other investors to purchase at least a 14% stake in the company.

Working at a successful startup is often viewed as a quick path to prosperity, but the reality is more complicated. Startups tend to offer equity packages, typically in the form of stock options, to compensate for below-market salaries. But as companies like Uber have stayed private longer, most employees haven't been able to get rich from those shares. Quite the opposite, some former Uber employees have gone into debt to hang onto shares they still can't sell.

Databases

Searchable Database of 1.4 Billion Stolen Credentials Found On Dark Web (itworldcanada.com) 52

YVRGeek shares a report from IT World Canada: A security vendor has discovered a huge list of easily searchable stolen credentials in cleartext on the dark web, which it fears could lead to a new wave of cyber attacks. Julio Casal, co-founder of identity threat intelligence provider 4iQ, which has offices in California and Spain, said in a Dec. 8 blog his firm found the database of 1.4 billion username and password pairs while scanning the dark web for stolen, leaked or lost data. He said the company has verified at least a group of credentials are legitimate. What is alarming is the file is what he calls "an aggregated, interactive database that allows for fast (one second response) searches and new breach imports." For example, searching for "admin," "administrator" and "root" returned 226,631 passwords of admin users in a few seconds. As a result, the database can help attackers automate account hijacking or account takeover. The dump file was 41GB in size and was found on December 5th in an underground community forum. The total amount of credentials is 1,400,553,869.
Bitcoin

SEC Shuts Down Munchee ICO (techcrunch.com) 33

The Securities and Exchange Commission has shut down Munchee, a company that built a $15 million token sale. According to TechCrunch, "The Munchee ICO aimed to fund the MUN coin, a payment system for restaurant reviews." However, the company "received a cease and desist from the SEC on December 11" because it constituted the offer and sale of unregistered securities. From the report: Within the SECs findings they noted that Munchee touted itself as a "utility" token which means that the company believed the MUN token would be primarily used within the Munchee ecosystem and not be used to fund operations. However, thanks to an application of the Howey Test (a Supreme Court finding that essentially states that any instrument with the expectation of return is an investment vehicle), the SEC found the Munchee was actually releasing a security masquerading as a utility. "Munchee offered MUN tokens in order to raise capital to build a profitable enterprise," read the SEC notice. "Munchee said that it would use the offering proceeds to run its business, including hiring people to develop its product, promoting the Munchee App, and ensuring 'the smooth operation of the MUN token ecosystem.'" The stickiest part? Munchee claimed that its coins would increase in value thanks to a convoluted process of growth.

In short, Munchee was undone by two things: depending on the token sale as a vehicle to raise cash for operations and using the typically spammy and scammy marketing efforts most ICO floggers use now, tactics taken directly from affiliate marketing handbooks. Fortunately, Munchee was able to return all $15 million to the 40 investors that dumped their coins into scheme.

Businesses

Ajit Pai Offers No Data For Latest Claim That Net Neutrality Hurt Small ISPs (arstechnica.com) 165

An anonymous reader quotes a report from Ars Technica: With days to go before his repeal of net neutrality rules, FCC Chairman Ajit Pai issued a press release about five small ISPs that he says were harmed by the rules. Pai "held a series of telephone calls with small Internet service providers across the country -- from Oklahoma to Ohio, from Montana to Minnesota," his press release said. On these calls, "one constant theme I heard was how Title II had slowed investment," Pai said. But Pai's announcement offered no data to support this assertion. So advocacy group Free Press looked at the FCC's broadband deployment data for these companies and found that four of them had expanded into new territory. The fifth didn't expand into new areas but it did start offering gigabit Internet service. These expansions happened after the FCC imposed its Title II net neutrality rules. (Title II is the statute that the FCC uses to enforce net neutrality rules and regulate common carriers.)
IT

Tech Support Scammers Invade Spotify Forums To Rank in Search Engines (bleepingcomputer.com) 30

Tech support scammers have been aggressively posting on Spotify forums to inject their phone numbers in a bid to vastly improve their odds of showing up on Google and Bing search results, a new report claims. And that bet seems to be working. From the report: They do this by submitting a constant stream of spam posts to the Spotify forums, whose pages tend to rank well in Google. While this behavior causes the Spotify forums to become harder to use for those who have valid questions, the bigger problem is that it allows tech support scammers to rank extremely well and trick unknowing callers into purchasing unnecessary services and software. BleepingComputer was alerted to this problem by security researcher Cody Johnston who started to see an alarming amount of tech support scam phone numbers being listed in Google search results through indexed Spotify forum posts. The tech support scams being posted to Spotify include Tinder, Linksys, AOL, Turbotax, Coinbase, Amazon, Apple, Microsoft, Norton, McAfee and more.
Nintendo

Nintendo Switch Sales Hit 10 Million Units, Could Outdo the Wii (fastcompany.com) 68

Nintendo's big bet on a hybrid portable and home game system is paying off, with 10 million Nintendo Switch units sold in nine months. From a report: Nintendo of America President Reggie Fils-Aime told Variety that the Switch could even top first-year sales of the Wii, the company's best-selling console yet -- if momentum holds up through the holidays. Strong sales will be important for Nintendo as it tries to convince game publishers to invest in the platform, whose less powerful hardware can't always handle the same games as Microsoft's Xbox and Sony's PlayStation consoles.
Politics

Paris Summit Finds New Money, Tech To Fight Climate Change (apnews.com) 153

An anonymous reader shares an Associated Press report: World leaders, investment funds and energy magnates promised Tuesday to devote new money and technology to slow global warming at a summit in Paris that President Emmanuel Macron hopes will rev up the Paris climate accord that U.S. President Donald Trump has rejected. Trump wasn't invited to the event but his name was everywhere. One by one, top world diplomats, former California governor Arnold Schwarzenegger, business leaders like Michael Bloomberg and even former U.S. Secretary of State John Kerry insisted that the world will shift to cleaner fuels and reduce emissions regardless of whether the Trump administration pitches in or not. Central to Tuesday's summit was countering Trump's main argument that the 2015 Paris accord on reducing global emissions would hurt U.S. business. Macron, a 39-year-old former investment banker, argues that the big businesses and successful economies of the future will be making and using renewable energy instead of pumping oil. Macron's office announced a dozen international projects emerging from the summit that will inject hundreds of millions of dollars in efforts to curb climate change. "The United States did not drop out of the Paris agreement. Donald Trump got Donald Trump out of the Paris agreement," Schwarzenegger said. The projects also aim to speed up the end of the combustion engine to reduce the emissions that contribute to global warming. With that aim, World Bank President Jim Yong Kim announced that his agency would stop financing oil and gas projects in two years, except in special circumstances for very poor nations.
Anime

Why Is Anime Obsessed With Power Lines? (atlasobscura.com) 184

An anonymous reader shares a report: Why are there so many shots of power lines in Japanese anime cartoons? The Tumblr Power Lines in Anime is dedicated to appreciating the truly lovely and surprisingly ubiquitous depictions of mundane power lines that appear in a large number of Japanese animation series. The blog is run by Tumblr user whitequark, who first started to notice the trend while watching a romantic comedy anime. Anime series can cover any number of genres, including sports, high fantasy, office life, and, of course, science fiction, but no matter what it's about, it seems that if the story is set on modern-day Earth, it will contain some amazingly detailed images of power lines, telephone poles, and other wired infrastructure. While a number of anime series (and cartoons in general), opt for a style of hyper-detailed backgrounds before which relatively simpler characters can interact, power lines stand out for the detail and complexity required to illustrate them.
Facebook

We've Toned Down the 'Destroying Society' Shtick, Facebook Insists (theregister.co.uk) 97

Facebook has taken the unusual step of responding to comments by former VP Chamath Palihapitiya that the social media giant was "destroying how society works." Palihapitiya said that executives ignored cautionary instincts when creating Facebook, and he now regretted the consequences. In a statement, Facebook said: Chamath has not been at Facebook for over 6 years. When Chamath was at Facebook we were focused on building new social media experiences and growing Facebook around the world. Facebook was a very different company back then, and as we have grown, we have realized how our responsibilities have grown too. We take our role very seriously and we are working hard to improve. We've done a lot of work and research with outside experts and academics to understand the effects of our service on well-being, and we're using it to inform our product development. We are also making significant investments more in people, technology and processes, and -- as Mark Zuckerberg said on the last earnings call -- we are willing to reduce our profitability to make sure the right investments are made.
Bitcoin

SEC Warns 'Extreme Caution' Over Cryptocurrency Investments As Many People Take Out Mortgages To Buy Bitcoin (qz.com) 219

The head of the US Securities and Exchange Commission has warned bitcoin and other cryptocurrency investors to beware of scams and criminal activity in the sector. In the financial regulator's strongest statement yet, SEC chair Jay Clayton said: "If a promoter guarantees returns, if an opportunity sounds too good to be true, or if you are pressured to act quickly, please exercise extreme caution and be aware of the risk that your investment may be lost." The warning comes at a time when many people have begun to take out mortgages to buy bitcoin. From a report: Clayton's statement was also issued the same day the SEC took regulatory action to halt an initial coin offering (ICO). "Recognize that these markets span national borders and that significant trading may occur on systems and platforms outside the United States. Your invested funds may quickly travel overseas without your knowledge," he wrote, in a sentence that was in bold. Clayton's statement referenced some of the crucial debates that have swirled around the rise and regulation of crypto-assets like bitcoins. Are these currencies? Commodities? Or securities? The statement notes in a footnote that bitcoin in the US has been designated a commodity. But the broader answer seems to be that while it depends from case to case, initial coin offerings, at least, are more likely to be scrutinized and held to the same bar as securities offerings.

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