ICYMI: 04.04.23
Dumb Phones Make a Comeback with Gen Zers
Nokia phone maker HMD Global continues selling millions of mobile devices for users who want to reduce screen time. The throwback phone is particularly popular among Gen Zers, who are increasingly concerned about how social media impacts their mental health.
Startup Unveils Giant Meatball Made of Lab-Grown Mammoth Meat
Netherlands-based startup Vow grew a meatball made from the genetic information from the long-extinct mammoth, with sheep and African elephant DNA mixed in.
Tech Leaders Call for Pause on ‘Dangerous Race’ to Develop A.I.
Elon Musk, Apple co-founder Steve Wozniak, 2020 presidential candidate Andrew Yang, and other prominent tech leaders have signed an open letter urging A.I. labs to pause the development of systems that can compete with human-level intelligence. The letter cited concerns over the acceleration of A.I. use and its impact on job security and misinformation.
Bitcoin's Lightning Network Could Expand Crypto in Africa
New Bitcoin blockchain technology can potentially expand cryptocurrency on the African continent. Since the early 2000s, mobile money systems have been widely available because the traditional banking system in some sub-Saharan African countries is inaccessible to the average person. Cryptocurrency potentially offers access to the financial system to those who would otherwise be left out.
Space Force Major Proposes Bitcoin Mining as a National Defense Strategy
A United States Space Force major has proposed that the U.S. mine and stockpile bitcoin as a national defense strategy. Major Jason Lowery's MIT master's thesis suggests that Bitcoin's proof-of-work system could be better for future power struggles than destructive alternatives such as nuclear wars or killer robots.
Disney, EA, & Warner Music Cutting Jobs
Disney, Electronic Arts, and Warner Music Group are the latest companies to cut their workforce. Disney initiated its first round of job cuts that it announced in February, cutting 7,000 positions. The layoffs are part of a multi-billion dollar cost-cutting initiative to streamline the company’s operations. Electronic Arts is cutting 800 jobs or roughly 6% of its workforce. CEO Andrew Wilson stated that the gaming company is “moving away from projects that do not contribute to our strategy." Warner Music Group Corp. plans to lay off about 4 percent of its global workforce to reallocate resources toward new artist and songwriter development skills.
Starbucks Fires Employee who led Unionization Efforts
Starbucks fired Alexis Rizzo, the employee who organized Starbucks Workers United union campaign and led its unionization efforts. Her termination came two days after CEO Howard Schultz testified on Capitol Hill about the coffee chain’s alleged union-busting.
U.S. Chipmakers Choose Between Washington Aid & Expansion in China
The Biden administration proposed new rules for semiconductor companies seeking federal grants under the Chips Act, leaving U.S. chipmakers to make tough decisions over whether to accept Washington aid or expand operations in China. The Biden administration's Chips Act would provide financial incentives for semiconductor companies to manufacture in the U.S.
FTX Founder Bankman-Fried Charged With Bribing Chinese Officials
FTX Founder Sam Bankman-Fried was charged with conspiring to bribe Chinese government officials with at least $40 million in cryptocurrency. The latest indictment adds one additional count, for conspiracy to violate the Foreign Corrupt Practices Act, to the 12 charges that Mr. Bankman-Fried already faces.
Elon Musk Values Twitter at $20B
Twitter CEO Elon Musk has valued the social media platform at $20 billion, based on the valuation of new stock compensation for employees.
