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"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.

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An anonymous reader writes: 18-year-old Casey Viner, who instigated the 911 call which led to a fatal shooting in Wichita (hiring Tyler Barriss to perform the actual call), is in big trouble. "If convicted on the 10 counts he faces, Viner could spend almost the rest of his life in prison and pay a $1,000,000 fine," reports a local Cincinnati news site. Ironically, Viner's father is a corporal with the county sheriff's department. The 19-year-old intended target for the SWAT attack had supplied a real address in Wichita for a house where he used to live. But in an eerie coincidence, ten days before the fatal shooting in Wichita, Cincinnati police had responded to a similar SWAT call which had sent them to a house where Viner used to live. The local police said "the facts and circumstances and the verbiage were very, very similar." 25-year-old Tyler Barriss also faces a life sentence for false information which resulted in a death -- as well as several local charges. And Thursday a federal grand jury also indicted Barriss "for a threat that caused an evacuation of a high-profile FCC hearing" into net neutrality regulations just two weeks before the fatal Wichita shooting, "and another threat eight days later that targeted FBI headquarters." Barriss's lawyer insists that his client wasn't responsible for the Wichita death, blaming instead a "gung-ho, crazy cop."

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Rick Schumann writes: A Swiss company called ecoRobotix is betting the agricultural industry will be willing to welcome their solar-powered weed-killing autonomous robot, in an effort to reduce the use of herbicides by up to a factor of 20 and perhaps even eliminate the need for herbicide-resistant GMO crops entirely. The 'see-and-spray' robot goes from plant to plant, visually differentiating the actual crops and weeds, and squirting the weeds selectively and precisely with weed killer, as opposed to the current technique of using large quantities of weed killer like Monsantos' Roundup to spray entire crops. Weeds are already becoming resistant to such glyphosate-based herbicides after "more than 20 years of near-ubiquitous use," reports Reuters. (The head of one pesticide company's science division concedes that "That was probably a once-in-a-lifetime product.") But AI-based precision spraying "could mean established herbicides whose effect has worn off on some weeds could be used successfully in more potent, targeted doses." Meanwhile, another Silicon Valley startup has built a machine using on-board cameras to distinguish weeds from crops -- and was recently acquired by the John Deere tractor company. Reuters calls these companies the "new breed of AI weeders that investors say could disrupt the $100 billion pesticides and seeds industry." The original submission asks: Should we welcome our weed-killing robotic overlords?

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schwit1 shared this article from the Washington Post: The House on Tuesday passed "right to try" legislation that would allow people with life-threatening illnesses to bypass the Food and Drug Administration to obtain experimental medications, ending a drawn-out battle over access to unapproved therapies. President Trump is expected to quickly sign the measure, which was praised by supporters as a lifeline for desperate patients but denounced by scores of medical and consumer groups as unnecessary and dangerous... The FDA would be largely left out of the equation under the new legislation and would not oversee the right-to-try process. Drug manufacturers would have to report "adverse events" -- safety problems, including premature deaths -- only once a year. The agency also would be restricted in how it used such information when considering the experimental treatments for approval. Patients would be eligible for right-to-try if they had a "life-threatening illness" and had exhausted all available treatment options. The medication itself must have completed early-stage safety testing, called Phase 1 trials, and be in active development with the goal of FDA approval. One Congressman opposing the bill argued that eliminating FDA oversight would "provide fly-by-night physicians and clinics the opportunity to peddle false hope and ineffective drugs to desperate patients," noting that the bill is opposed by over 100 patient advocacy and consumer groups.

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wyattstorch516 shared this story from the AP: Microsoft Corp. said it's secured a lucrative cloud deal with the intelligence community that marks a rapid expansion by the software giant into a market led by Amazon.com Inc. The deal, which the company said Wednesday is worth hundreds of millions of dollars, allows 17 intelligence agencies and offices to use Microsoft's Azure Government, a cloud service tailored for federal and local governments, in addition to other products Microsoft already offers, such as its Windows 10 operating system and word processing programs. The cloud agreement gives Microsoft more power to make its case to the Pentagon as it goes up against competitors like International Business Machines Corp., Oracle Corp. and Amazon for the agency's winner-take-all cloud computing contract for up to 10 years. That contract is expected to be worth billions of dollars, according to the article, adding that "the Defense Department has said it intends to move the department's technology needs -- 3.4 million users and 4 million devices -- to the cloud to give it a tactical edge on the battlefield and strengthen its use of emerging technologies." One Microsoft executive said this week's deal reinforces "the fact that we are a solid cloud platform that the federal government can put their trust in."

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Some security bites for the long weekend

Roundup While this week was dominated by news of a new Spectre variant, the VPNFilter botnet, and TalkTalk's badbad routersrouters, plenty of other stories popped up.…

Some security bites for the long weekend

Roundup While this week was dominated by news of a new Spectre variant, the VPNFilter botnet, and TalkTalk's badbad routersrouters, plenty of other stories popped up.…

pacopico writes: Neural nets and deep learning are all the rage these days, but their rise was anything but sudden. A handful of determined researchers scattered around the globe spent decades developing neural nets while most of their peers thought they were mad. An unusually large number of these academics -- including Geoff Hinton, Yoshua Bengio, Yann LeCun and Richard Sutton -- were working at universities in Canada. Bloomberg Businessweek has put together an oral history of how Canada brought them all together, why they kept chasing neural nets in the face of so much failure, and why their ideas suddenly started to take off. There's also a documentary featuring the researchers and Prime Minster Justin Trudeau that tells more of the story and looks at where AI technology is heading -- both the good and the bad. Overall, it's a solid primer for people wanting to know about AI and the weird story of where the technology came from, but might be kinda basic for hardcore AI folks.

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And more!

Roundup Here’s a quick roundup to keep you updated on what’s been happening in AI, beyond what we've already covered, for your long weekend.…

Extremist surveyed 1,311 current self-reporting MoviePass subscribers and found that 82% of subscribers have gone to a movie they normally would have ignored. 13% of respondents said "No," while 5% were "Not Sure." From the report: While theaters are only reporting a slight uptick in foot traffic since MoviePass got popular, there is no denying that there are now more butts in seats of movies that otherwise might not get as much foot traffic. Perhaps the real winner in a world with MoviePass is the box office rake for "bad" movies. If you are a MoviePass subscriber, have you noticed yourself attending movies you otherwise wouldn't pay directly to see?

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But applications the iGiant removes on its own won't be included

In its latest Transparency Report, covering government demands for customer and device data in the second half of 2017, Apple said that it will soon enumerate government app takedown requests.…

"Companies like Tesla and SunRun are starting to bid on utility contracts that would allow them to string together dozens or hundreds of systems that act as an enormous reserve to balance the flow of electricity on the grid," reports Quartz. "Doing so would accelerate the grid's transformation from 20th century hub-and-spoke architecture to a transmission network moving electricity among thousands or millions of customers who generate and store their own power." From the report: In theory, networked home-solar-and-battery systems, acting in coordination over a single geographical area, could replace things like natural gas "peaker" plants need to help support the grid on a moment's notice. But it's an open question whether it makes financial sense. Kamath says renewable mandates could keep home solar-storage solutions for the grid going for a while, but the idea will have to prove itself on the market, perhaps by aggregating large areas, if it wants to seriously compete with existing energy assets. SunRun told investors in 2017 that its pilot programs suggest it could competitively generate $2,000 worth of services by managing electricity flow back to the grid. The company has recently dropped its combative stance with utilities dragging their feet on accepting home solar. Instead, it's pursuing cooperation with the utilities now, in hopes of selling them home-based power. That would allow it grab a chunk of the billions being spent on modernizing the grid. "We don't want to be in a position of building two competing infrastructures," SunRun's Jurich said.

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OpenSourceAllTheWay writes: The Economist's 1843 magazine details one middle-aged writer's (Andrew Smith) quest to learn to code for the first time, after becoming interested in the "alien" logic mechanisms that power completely new phenomena like crypto-currency and effectively make the modern world function in the 21st Century. The writer discovers that there are over 1,700 actively used computer programming languages to choose from, and that every programmer that he asks "Where should someone like me start with coding?" contradicts the next in his or her recommendation. One seasoned programmer tells him that programmers discussing what language is best is the equivalent of watching "religious wars." The writer is stunned by how many of these languages were created by unpaid individuals who often built them for "glory and the hell of it." He is also amazed by how many people help each other with coding problems on the internet every day, and the computer programmer culture that non-technical people are oblivious of. Eventually the writer finds a chart of the most popular programming languages online, and discovers that these are Python, Javascript, and C++. The syntax of each of these languages looks indecipherable to him. The writer, with some help from online tutorials, then learns how to write a basic Python program that looks for keywords in a Twitter feed. The article is interesting in that it shows what the "alien world of coding" looks like to people who are not already computer nerds and in fact know very little about how computer software works. There are many interesting observations on coding/computing culture in the article, seen through the lens of someone who is not a computer nerd and who has not spent the last two decades hanging out on Slashdot or Stackoverflow.

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At the VivaTech conference in Paris, Alphabet CEO Eric Schmidt was asked about Elon Musk's warnings about AI. He responded by saying: "I think Elon is exactly wrong. He doesn't understand the benefits that this technology will provide to making every human being smarter. The fact of the matter is that AI and machine learning are so fundamentally good for humanity." TechCrunch reports: He acknowledged that there are risks around how the technology might be misused, but he said they're outweighed by the benefits: "The example I would offer is, would you not invent the telephone because of the possible misuse of the telephone by evil people? No, you would build the telephone and you would try to find a way to police the misuse of the telephone." After wryly observing that Schmidt had just given the journalists in the audience their headlines, interviewer (and former Publicis CEO) Maurice Levy asked how AI and public policy can be developed so that some groups aren't "left behind." Schmidt replied that government should fund research and education around these technologies. "As [these new solutions] emerge, they will benefit all of us, and I mean the people who think they're in trouble, too," he said. He added that data shows "workers who work in jobs where the job gets more complicated get higher wages -- if they can be helped to do it." Schmidt also argued that contrary to concerns that automation and technology will eliminate jobs, "The embracement of AI is net positive for jobs." In fact, he said there will be "too many jobs" -- because as society ages, there won't be enough people working and paying taxes to fund crucial services. So AI is "the best way to make them more productive, to make them smarter, more scalable, quicker and so forth."

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A new report released this week says that Google has surpassed Amazon in global smart speaker shipments in the first quarter of 2018. "[Research firm Canalys] says Google shipped 3.2 million Google Home and Home Mini speakers over the course of the quarter," reports Ars Technica. "Amazon, meanwhile, is said to have shipped 2.5 million Echo speakers." From the report: According to the report, Google jumped from taking 19.3 percent of smart speaker shipments in Q1 2017 to 36.2 percent this past quarter. Amazon accounted for a whopping 79.6 percent of shipments in the year-ago quarter but fell to 27.7 percent in Q1 2018, the report says. Now, it appears the Home has reached a point of parity with the Echo; this report would mark the first time Google has overtaken Amazon in total shipments. Canalys credits Google's rise in part to retailers and channel operators "prioritizing" the Home over the Echo, given that Amazon is one of its biggest competitors in retail at large. A couple of caveats: neither Amazon nor Google breaks out quarterly sales figures for each device family, so Canalys' figures likely aren't 100-percent exact. It's also worth noting that "shipments" are not the same as "sales," so it's possible that deals and discounts on the devices have affected the figures to an extent.

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The latest American Customer Satisfaction Index survey finds that Verizon FiOS has been rated the highest in customer satisfaction with a score of 70 out of 100. But, as DSLReports notes, that's nothing to write home about since that score was a one point decline from one year earlier. Furthermore, the industry average was 64 points, which is not only a decline from last year but lower than most of the other industries the group tracks. From the report: According to the ACSI, high prices and poor customer service continues to plague an U.S. broadband industry with some very obvious competitive shortcomings. "According to users, most aspects of ISPs are getting worse," the ACSI said. "Courtesy and helpfulness of staff has waned to 76 and in-store service is slower (74). Bills are more difficult to understand (-3 percent to 71), and customers aren't happy with the variety of plans available (-3 percent to 64)." Not a single ISP tracked by the firm saw an improvement in customer satisfaction scores. The worst of the worst according to the ACSI is Mediacom, which saw a 9% plummet year over year to a score of 53, which is lower than most airlines, banks, and even the IRS according to the report. Charter Spectrum and Suddenlink also saw 8% declines in satisfaction year over year, and despite repeated claims that customer service is now its top priority, Comcast saw zero improvement in broadband satisfaction and a slight decline in pay TV satisfaction.

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An anonymous reader quotes a report from Reuters: Tesla on Thursday reached an agreement to settle a class action lawsuit with buyers of its Model S and Model X cars who alleged that the company's assisted-driving Autopilot system was "essentially unusable and demonstrably dangerous." The lawsuit said Tesla misrepresented on its website that the cars came with capabilities designed to make highway driving "safer." The Tesla owners said they paid an extra $5,000 to have their cars equipped with the Autopilot software with additional safety features such as automated emergency braking and side collision warning. The features were "completely inoperable," according to the complaint. Under the proposed agreement, class members, who paid to get the Autopilot upgrade between 2016 and 2017, will receive between $20 and $280 in compensation. Tesla has agreed to place more than $5 million into a settlement fund, which will also cover attorney fees.

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The FBI is advising users of consumer-grade routers and network-attached storage devices to reboot them as soon as possible to counter Russian-engineered malware that has infected hundreds of thousands devices. Ars Technica reports: Researchers from Cisco's Talos security team first disclosed the existence of the malware on Wednesday. The detailed report said the malware infected more than 500,000 devices made by Linksys, Mikrotik, Netgear, QNAP, and TP-Link. Known as VPNFilter, the malware allowed attackers to collect communications, launch attacks on others, and permanently destroy the devices with a single command. The report said the malware was developed by hackers working for an advanced nation, possibly Russia, and advised users of affected router models to perform a factory reset, or at a minimum to reboot. Later in the day, The Daily Beast reported that VPNFilter was indeed developed by a Russian hacking group, one known by a variety of names, including Sofacy, Fancy Bear, APT 28, and Pawn Storm. The Daily Beast also said the FBI had seized an Internet domain VPNFilter used as a backup means to deliver later stages of the malware to devices that were already infected with the initial stage 1. The seizure meant that the primary and secondary means to deliver stages 2 and 3 had been dismantled, leaving only a third fallback, which relied on attackers sending special packets to each infected device. The redundant mechanisms for delivering the later stages address a fundamental shortcoming in VPNFilter -- stages 2 and 3 can't survive a reboot, meaning they are wiped clean as soon as a device is restarted. Instead, only stage 1 remains. Presumably, once an infected device reboots, stage 1 will cause it to reach out to the recently seized ToKnowAll.com address. The FBI's advice to reboot small office and home office routers and NAS devices capitalizes on this limitation. In a statement published Friday, FBI officials suggested that users of all consumer-grade routers, not just those known to be vulnerable to VPNFilter, protect themselves. The Justice Department and U.S. Department of Homeland Security have also issued statements advising users to reboot their routers as soon as possible.

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An anonymous reader shares a report: In March, the Zimbabwean government signed a strategic partnership with the Gunagzhou-based startup CloudWalk Technology to begin a large-scale facial recognition program throughout the country. The agreement, backed by the Chinese government's Belt and Road initiative, will see the technology primarily used in security and law enforcement and will likely be expanded to other public programs. [...] Zimbabwe may be giving away valuable data as Chinese AI technologists stand to benefit from access to a database of millions of Zimbabwean faces Harare will share with CloudWalk. [...] CloudWalk has already recalibrated its existing technology through three-dimensional light technology in order to recognize darker skin tones. In order to recognize other characteristics that may differ from China's population, CloudWalk is also developing a system that recognizes different hairstyles and body shapes, another representative explained to the Global Times.

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In its bi-annual transparency report today, Apple said that it will soon start reporting government requests to take down apps from the App Store. These requests will relate to alleged legal and/or policy provision violations, Apple says. The Verge reports: These numbers will tell us just how often governments are trying to block access to certain apps, and how many of those orders are actually obeyed. Google doesn't yet report these numbers specifically for the Play Store. As for takedown requests over the last year, governments around the world sent requests for information on 29,718 devices. Data was provided in 79 percent of cases. Governments also requested information on 3,358 Apple accounts, and data was provided in 82 percent of cases.

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