An anonymous reader quotes a report from Bloomberg: Dropbox said its digital-signature product, Dropbox Sign, was breached by hackers, who accessed user information including emails, user names and phone numbers. The software company said it became aware of the cyberattack on April 24, sought to limit the incident and reported it to law enforcement and regulatory authorities. "We discovered that the threat actor had accessed data related to all users of Dropbox Sign, such as emails and user names, in addition to general account settings," Dropbox said Wednesday in a regulatory filing. "For subsets of users, the threat actor also accessed phone numbers, hashed passwords, and certain authentication information such as API keys, OAuth tokens, and multi-factor authentication."

Dropbox said there is no evidence hackers obtained user accounts or payment information. The company said it appears the attack was limited to Dropbox Sign and no other products were breached. The company didn't disclose how many customers were affected by the hack. The hack is unlikely to have a material impact on the company's finances, Dropbox said in the filing. The shares declined about 2.5% in extended trading after the cyberattack was disclosed and have fallen 20% this year through the close.

Microsoft's motivation for investing heavily and partnering with OpenAI came from a sense of falling badly behind Google, according to an internal email released Tuesday as part of the Justice Department's antitrust case against the search giant. Bloomberg: The Windows software maker's chief technology officer, Kevin Scott, was "very, very worried" when he looked at the AI model-training capability gap between Alphabet's efforts and Microsoft's, he wrote in a 2019 message to Chief Executive Officer Satya Nadella and co-founder Bill Gates. The exchange shows how the company's top executives privately acknowledged they lacked the infrastructure and development speed to catch up to the likes of OpenAI and Google's DeepMind.

[...] Scott, who also serves as executive vice president of artificial intelligence at Microsoft, observed that Google's search product had improved on competitive metrics because of the Alphabet company's advancements in AI. The Microsoft executive wrote that he made a mistake by dismissing some of the earlier AI efforts of its competitors. "We are multiple years behind the competition in terms of machine learning scale," Scott said in the email. Significant portions of the message, titled 'Thoughts on OpenAI,' remain redacted. Nadella endorsed Scott's email, forwarding it to Chief Financial Officer Amy Hood and saying it explains "why I want us to do this."

An anonymous reader quotes a report from Bloomberg: U.S. wind power slipped last year for the first time in a quarter-century due to weaker-than-normal Midwest breezes, underscoring the challenge of integrating volatile renewable energy sources into the grid. Power produced by turbines slipped 2% in 2023, even after developers added 6.2 gigawatts of new capacity, according to a government report Tuesday. The capacity factor for the country's wind fleet -- how much energy it's actually generating versus its maximum possible output -- declined to an eight-year low of 33.5%. Most of that decline was driven by the central US, a region densely dotted with turbines.

Wind is a key component of the effort to cut carbon emissions, but the data highlights the downside of relying on intermittent energy sources tied to the effects of global weather. Last year's low wind speeds came during El Nino, a warming of the equatorial Pacific that tends to weaken trade winds. La Nina, the Pacific cooling pattern that dominated in 2022 and is poised to return later this year, usually has the opposite effect. The U.S. Energy Information Administration shared the findings in a report published earlier today.

"In less than 15 years, battery costs have fallen by more than 90%," according to a new report from the International Energy Agency, "one of the fastest declines ever seen in clean energy technologies."

And it's expected to get even cheaper, reports Reuters: An expected sharp fall in battery costs for energy storage in coming years will accelerate the shift to renewable energy from fossil fuels, the International Energy Agency (IEA) said on Thursday... The total capital costs of battery storage are due to tumble by up to 40% by 2030, the Paris-based watchdog said in its Batteries and Secure Energy Transitions report.

"The combination of solar PV (photovoltaic) and batteries is today competitive with new coal plants in India," said IEA Executive Director Fatih Birol. "And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States. Batteries are changing the game before our eyes." [...] The global market for energy storage doubled last year to over 90 gigawatt-hours (GWh), the report said...

The slide in battery costs will also help provide electricity to millions of people without access, cutting by nearly half the average electricity costs of mini-grids with solar PV coupled with batteries by 2030, the IEA said.
The Los Angeles Times notes one place adopting the tech is California: Standing in the middle of a solar farm in Yolo County, [California governor] Newsom announced the state now had battery storage systems with the capacity of more than 10,000 megawatts — about 20% of the 52,000 megawatts the state says is needed to meet its climate goals.
Although Newsom acknowledged it isn't yet enough to eliminate blackouts...

Edward Zitron, citing emails released as part of the Department of Justice's antitrust case against Google, writes about Prabhakar Raghavan: And Raghavan -- a manager, hired by Sundar Pichai, a former McKinsey man and a manager by trade -- is an example of everything wrong with the tech industry. Despite his history as a true computer scientist with actual academic credentials, Raghavan chose to bulldoze actual workers and replace them with toadies that would make Google more profitable and less useful to the world at large. Since Prabhakar took the reins in 2020, Google Search has dramatically declined, with the numerous "core" search updates allegedly made to improve the quality of results having an adverse effect, increasing the prevalence of spammy, search engine optimized content.

It's because the people running the tech industry are no longer those that built it. Larry Page and Sergey Brin left Google in December 2019 (the same year as the Code Yellow fiasco), and while they remain as controlling shareholders, they clearly don't give a shit about what "Google" means anymore. Prabhakar Raghavan is a manager, and his career, from what I can tell, is mostly made up of "did some stuff at IBM, failed to make Yahoo anything of note, and fucked up Google so badly that every news outlet has run a story about how bad it is." This is the result of taking technology out of the hands of real builders and handing it to managers at a time when "management" is synonymous with "staying as far away from actual work as possible." And when you're a do-nothing looking to profit as much as possible, you only care about growth. You're not a user, you're a parasite, and it's these parasites that have dominated and are draining the tech industry of its value.

Raghavan's story is unique, insofar as the damage he's managed to inflict (or, if we're being exceptionally charitable, failed to avoid in the case of Yahoo) on two industry-defining companies, and the fact that he did it without being a CEO or founder. Perhaps more remarkable, he's achieved this while maintaining a certain degree of anonymity. Everyone knows who Musk and Zuckerberg are, but Raghavan's known only in his corner of the Internet. Or at least he was. Now Raghavan has told those working on search that their "new operating reality" is one with less resources and less time to deliver things. Rot Master Raghavan is here to squeeze as much as he can from the corpse of a product he beat to death with his bare hands. Raghavan is a hall-of-fame rot economist, and one of the many managerial types that have caused immeasurable damage to the Internet in the name of growth and "shareholder value." And I believe these uber-managers - these ultra-pencil-pushers and growth-hounds - are the forces destroying tech's ability to innovate.

Bloomberg looks at America's biggest operator of private electrical vehicle charging infrastructure: Amazon. "In a little more than two years, Amazon has installed more than 17,000 chargers at about 120 warehouses around the U.S." — and had Rivian build 13,500 custom electric delivery vans. Amazon has a long way to go. The Seattle-based company says its operations emitted about 71 million metric tons of carbon dioxide equivalent in 2022, up by almost 40% since Jeff Bezos's 2019 vow that his company would eventually stop contributing to the emissions warming the planet. Many of Amazon's emissions come from activities — air freight, ocean shipping, construction and electronics manufacturing, to name a few — that lack a clear, carbon-free alternative, today or any time soon. The company has not made much progress on decarbonization of long-haul trucking, whose emissions tend to be concentrated in industrial and outlying areas rather than the big cities that served as the backdrop for Amazon's electric delivery vehicle rollout...

Another lesson Amazon learned is one the company isn't keen to talk about: Going green can be expensive, at least initially. Based on the type of chargers Amazon deploys — almost entirely midtier chargers called Level 2 in the industry — the hardware likely cost between $50 million and $90 million, according to Bloomberg estimates based on cost estimates supplied by the National Renewable Energy Laboratory. Factoring in costs beyond the plugs and related hardware — like digging through a parking lot to lay wires or set up electrical panels and cabinets — could double that sum. Amazon declined to comment on how much it spent on its EV charging push.
In addition to the expense of the chargers, electric vehicle-fleet operators are typically on the hook for utility upgrades. When companies request the sort of increases to electrical capacity that Amazon has — the Maple Valley warehouse has three megawatts of power for its chargers — they tend to pay for them, making the utility whole for work done on behalf of a single customer. Amazon says it pays upgrade costs as determined by utilities, but that in some locations the upgrades fit within the standard service power companies will handle out of their own pocket.
The article also includes this quote from Kellen Schefter, transportation director at the Edison Electric Institute trade group (which worked with Amazon on its electricity needs). "Amazon's scale matters. If Amazon can show that it meets their climate goals while also meeting their package-delivery goals, we can show this all actually works."

The Los Angeles Times reports that the U.S.-China rivalry "has a new flashpoint in the battle for technology supremacy: electric cars."

"So far, the U.S. is losing." Last year, China became the world's foremost auto exporter, according to the China Passenger Car Assn., surpassing Japan with more than 5 million sales overseas. New energy vehicles accounted for about 25% of those exports, and more than half of those were created by Chinese brands, a shift from the traditional assembly role China has played for foreign automakers. "The big growth has happened in the last three years," said Stephen Dyer, head of the Asia automotive and industrials unit at AlixPartners, a consulting firm. "With Chinese automakers making inroads for most of the market share, that's a huge challenge for foreign automakers." China's rapid expansion domestically and abroad has added fuel to a series of clashes between the U.S. and China over trade and advanced technology, as competition intensifies between the two superpowers...

One area in which Chinese automakers handily beat Western competitors is on price, thanks to government subsidies that supported the industry's initial rise as well as cheap access to critical minerals and components such as lithium-ion batteries, which account for about a third of the overall cost of production... In March, BYD cut the price of its cheapest EV model in China to less than $10,000. According to Kelley Blue Book, the average EV retail price is $55,343 in the U.S., compared with $48,247 across all vehicles... Though 27.5% tariffs have in effect locked Chinese EVs out of the U.S. market, the fear that the cheaper models could eventually undermine American automakers has started to spread. The Alliance of American Manufacturing warned in a February report that allowing Chinese EVs into the country would be an "extinction-level event" for the U.S. auto industry. The group also cited the risks of Chinese auto companies building facilities across the border in Mexico that could circumvent tariffs....

"When the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question," [said America's Treasury Secretary in April]. The European Union has opened an investigation into government subsidies utilized by China's EV industry and whether such support violates international trade laws.

The Washington Post reports on a new situation in Virginia: There, massive data centers with computers processing nearly 70 percent of global digital traffic are gobbling up electricity at a rate officials overseeing the power grid say is unsustainable unless two things happen: Several hundred miles of new transmission lines must be built, slicing through neighborhoods and farms in Virginia and three neighboring states. And antiquated coal-powered electricity plants that had been scheduled to go offline will need to keep running to fuel the increasing need for more power, undermining clean energy goals...

The $5.2 billion effort has fueled a backlash against data centers through the region, prompting officials in Virginia to begin studying the deeper impacts of an industry they've long cultivated for the hundreds of millions of dollars in tax revenue it brings to their communities. Critics say it will force residents near the [West Virginia] coal plants to continue living with toxic pollution, ironically to help a state — Virginia — that has fully embraced clean energy. And utility ratepayers in the affected areas will be forced to pay for the plan in the form of higher bills, those critics say. But PJM Interconnection, the regional grid operator, says the plan is necessary to maintain grid reliability amid a wave of fossil fuel plant closures in recent years, prompted by the nation's transition to cleaner power. Power lines will be built across four states in a $5.2 billion effort that, relying on coal plants that were meant to be shuttered, is designed to keep the electric grid from failing amid spiking energy demands. Cutting through farms and neighborhoods, the plan converges on Northern Virginia, where a growing data center industry will need enough extra energy to power 6 million homes by 2030...

There are nearly 300 data centers now in Virginia. With Amazon Web Services pursuing a $35 billion data center expansion in Virginia, rural portions of the state are the industry's newest target for development. The growth means big revenue for the localities that host the football-field-size buildings. Loudoun [County] collects $600 million in annual taxes on the computer equipment inside the buildings, making it easier to fund schools and other services. Prince William [County], the second-largest market, collects $100 million per year.
The article adds that one data center "can require 50 times the electricity of a typical office building, according to the U.S. Department of Energy. "Multiple-building data center complexes, which have become the norm, require as much as 14 to 20 times that amount."

One small power company even told the grid operator that data centers were already consuming 59% of the power they produce...

AI's voracious need for computing power is threatening to overwhelm energy sources, requiring the industry to change its approach to the technology, according to Arm Chief Executive Officer Rene Haas. From a report: By 2030, the world's data centers are on course to use more electricity than India, the world's most populous country, Haas said. Finding ways to head off that projected tripling of energy use is paramount if artificial intelligence is going to achieve its promise, he said.

"We are still incredibly in the early days in terms of the capabilities," Haas said in an interview. For AI systems to get better, they will need more training -- a stage that involves bombarding the software with data -- and that's going to run up against the limits of energy capacity, he said.

The SEC has blocked third-party messaging apps and texts from employees' work phones, "bringing its own practices closer to the standards it's enforcing for the industry," reports Bloomberg. From the report: The SEC's decision to block disappearing-messaging apps will help improve record-keeping and address potential security vulnerabilities at the agency, which saw one of its social-media accounts compromised earlier this year. It follows about $3 billion in fines imposed on financial firms to settle allegations that they failed to keep adequate records of work-related communications on mobile devices and apps such as Signal and Meta's WhatsApp.

The scrutiny prompted Wall Street to overhaul how employees communicate on business matters using mobile phones. Meanwhile, the SEC took a hard look at policies covering its own staff's communications on agency-issued phones. The agency has restricted access to third-party messaging applications, as well as SMS (short message service) and iMessage texts "to lower risk that our systems could be compromised and to enhance recordkeeping," an SEC spokeswoman said in an emailed statement. The process of blocking the apps began in September and has continued over the past several months, she added.

An anonymous reader shared this report from the Los Angeles Times: A network of air monitors installed in Northern California has provided scientists with some of the first measurable evidence quantifying how much electric vehicles are shrinking the carbon footprint of a large urban area. Researchers from UC Berkeley set up dozens of sensors across the Bay Area to monitor planet-warming carbon dioxide, the super-abundant greenhouse gas produced when fossil fuels are burned. Between 2018 and 2022, the region's carbon emissions fell by 1.8% each year, which the Berkeley researchers concluded was almost exclusively owed to drivers switching to electric vehicles, according to a study published in the journal Environmental Science & Technology.

In that time, Californians purchased about 719,500 zero-emission or plug-in hybrid vehicles, more than triple the amount compared to the previous five years, according to the California Department of Energy. The Bay Area also had a higher rate of electric vehicle adoption than the state as a whole.

While the findings confirm the state's transition to zero-emission vehicles is substantially lowering carbon emissions, it also reveals these reductions are still not on pace to meet the state's ambitious climate goals. Emissions need to be cut by around 3.7% annually, or nearly twice the rate observed by the monitors, according to Ronald Cohen, UC Berkeley professor of chemistry. Although cars and trucks are the state's largest source of carbon emissions, it underscores the need to deploy zero-emission technology inside homes and for the power grid.

"I think what we see right now is evidence of strong success in the transportation sector," Cohen said. "We're going to need equally strong success in home and commercial heating, and in the [industrial] sources. We don't yet see significant movement in those, but policy pushing on those is not as far ahead as policy on electric vehicles." Although cities only cover roughly 3% of global surface area, they produce about 70% of carbon emissions.

Movie exhibitors still face "serious risks," the Los Angeles Times reported Tuesday: Attendance was on the decline even before the pandemic shuttered theaters, thanks to changing consumer habits and competition for people's time and money from other entertainment options. The industry has demonstrated an over-reliance on Imax-friendly studio action tent poles, when theater chains need a deep and diverse roster of movies in order to thrive... It remains to be seen whether the global box office will ever get back to the $40 billion-plus days of 2019 and earlier years. A clearer picture will emerge in 2025 when the writers' and actors' strikes are further in the past. But overall, there's a strong case that moviegoing has proved to be relatively sturdy despite persistent difficulties.
Which brings us to this year's CinemaCon convention, where multiplex operators heard from Hollywood studios teasing upcoming blockbusters like Joker: Folie à Deux, Furiosa: A Mad Max Saga, Transformers One, and Deadpool & Wolverine. Exhibitors pleaded with the major studios to release more films of varying budgets on the big screen, while studios made the case that their upcoming slates are robust enough to keep them in business... Box office revenue in the U.S. and Canada is expected to total about $8.5 billion, which is down from $9 billion in 2023 and a far cry from the pre-pandemic yearly tallies that nearly reached $12 billion... Though a fuller release schedule is expected for 2025, talk of budget cuts, greater industry consolidation and corporate mergers has forced exhibitors to prepare for the possibility of a near future with fewer studios making fewer movies....

As the domestic film business has been thrown into turmoil in recent years, Japanese cinema and faith-based content have been two of movie theaters' saving graces. Industry leaders kicked off CinemaCon on Tuesday by singing the praises of Sony-owned anime distributor Crunchyroll's hits — including the latest "Demon Slayer" installment. Mitchel Berger, senior vice president of global commerce at Crunchyroll, said Tuesday that the global anime business generated $14 billion a decade ago and is projected to generate $37 billion next year. "Anime is red hot right now," Berger said. "Fans have known about it for years, but now everyone else is catching up and recognizing that it's a cultural, economic force to be reckoned with.... " Another type of product buoying the exhibition industry right now is faith-based programming, shepherded in large part by "Sound of Freedom" distributor Angel Studios...

Theater owners urged studio executives at CinemaCon to put more films in theaters — and not just big-budget tent poles timed for summer movie season and holiday weekends... "Whenever we have a [blockbuster] film — whether it be 'Barbie' or 'Super Mario' ... records are set," added Bill Barstow, co-founder of ACX Cinemas in Nebraska. "But we just don't have enough of them."

Adobe has begun to procure videos to build its AI text-to-video generator, trying to catch up to competitors after OpenAI demonstrated a similar technology. From a report: The software company is offering its network of photographers and artists $120 to submit videos of people engaged in everyday actions such as walking or expressing emotions including joy and anger, according to documents seen by Bloomberg. The goal is to source assets for artificial intelligence training, the company wrote.

Over the past year, Adobe has focused on adding generative AI features to its portfolio of software for creative professionals, including Photoshop and Illustrator. [...] Adobe is requesting more than 100 short clips of people engaged in actions and showing emotions as well as simple anatomy shots of feet, hands or eyes. The company also wants video of people "interacting with objects" such as smartphones or fitness equipment. It cautions against providing copyrighted material, nudity or other "offensive content." Pay for the submission works out, on average, to about $2.62 per minute of submitted video, although it could be as much as about $7.25 per minute.

Sierra Space CEO Tom Vice told Yahoo Finance it plans to go public within the next 18 months at a valuation of $5.3 billion. Since being spun out of defense contractor Sierra Nevada Corporation in 2021, the company has "placed its bets on building out the growing space economy, from developing rocket propulsion technology to a commercial space station with Blue Origin." From the report: Its ambitions have fueled the development of its cargo space plane, the Dream Chaser, set to have its inaugural mission to the International Space Station (ISS) in the second half of this year. Built to land on any commercial runway, the plane will lower the barrier to entry into low-earth orbit and open up business opportunities, Vice said. "Since the 1960s, every science experiment or human being that's come back to earth from space, even today, is still landing in a capsule in the ocean," he said. "We think changing and revolutionizing the way that we bring things back from space, both humans and cargo, and landing [the spacecraft] back at a commercial runway will completely accelerate the new space economy."

"We believe that the next big breakthrough products in oncology, longevity, and industrialized components like glass will be produced in low Earth orbit," Vice said, noting that many of those opportunities are likely to come from the development of commercial space stations to replace the decades-old ISS. Sierra Space has partnered with Blue Origin to build out the Orbital Reef, a commercially owned and operated space station, though recent reports have hinted at tension between the corporate partners. "We're transitioning from decades of government-run space stations with just a handful of government-trained astronauts to the full commercialization of low Earth orbit," Vice said. "We think that's going to create, we believe, probably the most profound industrial revolution and grow that space economy well over a trillion dollars by 2040."

We're seeing a boom in journaling apps as safer, easier ways to ease us back into posting everything online. From a report: Last year, Apple released a journal app with iOS 17. Former Yahoo CEO Marissa Mayer just unveiled a photo app called Shine, which is made to share photos and memories with a select group of people. Today, Retro -- a startup that we called "the new Instagram" -- is launching a feature called Journals within the app, which lets you record both photos and notes for a select group of people.

As a lifelong journaler, it's hard to forget that I already have an intimate, safe space to record my life and share memories. It is a notebook. I don't have to worry about marketers selling my information, because it's not accessible. What if creating a safe space all of your own means just getting off the internet altogether? Most of these apps are based on the central premise that most of us would rather talk to family or close friends than with a pretty stranger shilling snack boxes. As we reported previously, Retro has a few standout features. Once you join the app, you're prompted to select a few pictures to post per week. In order to see your friends' and family's photos, you have to share photos of your own. That keeps people actively participating instead of lurking.

When Disneyland opened in 1955, its car-themed attraction Autopia "represented the future of what would become America's multilane limited-access highways," according to Wikipedia, " which were still being developed. President Eisenhower had yet to sign the Interstate Highway legislation..."

Wikipedia adds that the cars "generate a moderate level of exhaust from the Honda GX gasoline engines that propel the cars." But that may change, according to a climate-oriented newsletter from the Los Angeles Times: If anyone could get away with defending the toxic odor, it might be Bob Gurr. He designed the original Autopia cars in the mid-1950s, working closely with Walt himself. He's proud of what they built together. But today the 92-year-old Disney legend says the polluting motors need to go. "Get rid of those God-awful gasoline fumes," he told me.

Disney is finally preparing to do just that. In news shared exclusively with The Times ahead of this column's publication — after several weeks of my prodding the company for answers on the future of Autopia — Disney officials revealed that pure gasoline engines are on their way out... "As the industry moves toward alternative fuel sources, we have developed a roadmap to electrify this attraction and are evaluating technology that will enable us to convert from gas engines in the next few years," spokesperson Jessica Good said in an email. Good wouldn't confirm whether that means electric vehicles, or if hybrids are a possibility...

[Gurr] also expressed a grander vision for Tomorrowland as a hub for stories about renewable energy, public transit and other sustainable technologies that will help us create a better tomorrow... [H]ow about using the former Innoventions building, which once displayed futuristic technologies but is now closed to most guests, to showcase solar panels, lithium-ion batteries and other clean energy devices that guests might want in their homes...? Why not switch to electric cooking at the Alien Pizza Planet restaurant, and offer induction stove demos for diners? Maybe start screening some National Geographic films (Disney owns NatGeo) at the largely unused Magic Eye Theater...? Add some infotainment-style signs and voice-overs about the wonders of clean energy and public transit, and boom, you've got a Tomorrowland that should leave kids and their parents excited to help build a safer, happier, more sustainable world...

[Gurr] told me that if he could, he'd tear out everything in Tomorrowland except the Monorail and rebuild it as a version of the public transit-oriented futuristic city that Walt once planned for Florida — only with clean energy at the core of its storytelling... At the very least, he said it's time for an Autopia where guests "don't smell the fumes, don't hear that racket of the little motor going putt-putt-putt."
The newsletter agrees electric vehicles for Autopia are "the obvious starting point" for remodeling Tomorrowland with "a buzz of optimism and futuristic energy." ("Solar-panel shade structures over the line would be great too.") They even add that "it's not that it's my job to make money for Disney, but I'm sure the company could find sponsors for this vision of Tomorrowland. There are plenty of renewable energy companies, electric utilities and environmental groups eager to tout their causes and their credentials."

And it shares this observation from climate scientist and communicator Katharine Hayhoe (paraphrasing another scientist who studies climate communications): "Showing people what climate solutions look like is one of the most effective ways to get them to support action." The newsletter's conclusion? "This is where Tomorrowland could prove especially valuable in the fight to save the planet."


Some additional context... Disney's current CEO once said he was "particuarly proud" of the 270-acre, 50+-megawatt solar facility the company brought online in Orlando." And the Washington Post reports that Disney's plans to electrify Autopia "comes as the park is taking steps to decarbonize as part of an effort to reach a goal of net-zero emissions by 2030."

The use of YouTube videos to train OpenAI's text-to-video generator would be an infraction of the platform's terms of service, YouTube Chief Executive Officer Neal Mohan said. Bloomberg: In his first public remarks on the topic, Mohan said he had no firsthand knowledge of whether OpenAI had, in fact, used YouTube videos to refine its artificial intelligence-powered video creation tool, called Sora. But if that were the case, it would be a "clear violation" of YouTube's terms of use, he said.

"From a creator's perspective, when a creator uploads their hard work to our platform, they have certain expectations," Mohan said Thursday. "One of those expectations is that the terms of service is going to be abided by. It does not allow for things like transcripts or video bits to be downloaded, and that is a clear violation of our terms of service. Those are the rules of the road in terms of content on our platform."

Yahoo is acquiring Artifact, the AI news app from Instagram's co-founders that failed to make it big on its own. The Verge reports: The two sides declined to share the cost of the acquisition, but both made clear Yahoo is acquiring Artifact's tech rather than its team. Mike Krieger and Kevin Systrom, Artifact's co-founders, will be "special advisors" for Yahoo but won't be joining the company. Artifact's remaining five employees have either gotten other jobs or are planning to take some time off. The acquisition comes a bit more than a year after Artifact's launch and about three months after Systrom and Krieger announced its death. [...]

Artifact, the app, will go away once the acquisition is complete. But Artifact's underlying tech for categorizing, curating, and personalizing content will soon start to show up on Yahoo News -- and eventually on other Yahoo platforms, too. "You'll see that stuff flowing into our products in the coming months," says Downs Mulder. It sounds like there's also a good chance that Yahoo's apps might get a bit of Artifact's speed and polish over time, too. Both Systrom and Downs Mulder say the integration will take time, that you can't just drop an Artifact algorithm into Yahoo News and call it a day. But they see a possibility to get everybody into the future a little faster. Yahoo can develop a personalized content ecosystem, the "TikTok for text" that was so alluring to Artifact users. And Artifact can power a news service of the future.

Last Monday shares of Reddit's stock soared 30%, reports CNBC — and then another 8.8% on Tuesday.

But the moves happened "even after New Street Research issued a neutral rating on the company" — and by the end of the week, CNBC was reporting that "Reddit shares are plummeting..." Shares closed at $49.32, ending the week below their closing price on Reddit's first day of trading on the New York Stock Exchange [on March 21st, when they closed at $50.44 ]... Stock markets are closed on Good Friday.

Reddit shares began their downward spiral on Wednesday, when they sank about 11% to $57.75 at market close. That day, Hedgeye Risk Management described Reddit's stock as "grossly overvalued" in a report cited by Bloomberg News, adding the company was on the firm's "short bench."
The article notes Reddit's CEO sold 500,000 shares in the company — nearly 40% of his holdings — which Ben Silverman, vice president of research at Verity, told CNBC was expected — while Reddit's COO sold another 514,000 shares.

"There's always a bit of a disconnect," Silverman said in the interview, because bringing a company public "is not just to generate liquidity for the company itself so that it can expand and grow. In these situations, it often allows insiders to cash out to generate liquidity.

"And that's something investors have to consider here. If the prospects are so bright, why are insiders selling?"

"Subscribers of both Disney+ and Hulu can now access Hulu content through the Disney+ app," reports the Los Angeles Times, "as the Burbank media and entertainment giant launched its one-app integration of the two streaming services Wednesday..." The move is part of Disney's plan to increase viewer engagement and reduce churn on Disney+, which has 111.3 million subscribers globally. Disney has lost billions on its direct-to-consumer business as it tries to compete with Netflix, but the company has told investors that its streaming segment will begin to turn a profit by the end of fiscal 2024. Streaming losses have been a key component of a nasty activist shareholder campaign ahead of next week's annual meeting.

Disney+ has typically served up family-friendly content and major brands such as Pixar, Star Wars and Marvel, whereas Hulu's offering has been the streaming home of more adult-oriented programming. Disney executives described the combined app experience as the most extensive technical advancement to the Disney+ streaming platform since it launched in November 2019... The price of the bundle plan starts at $9.99 with ads... Upgrading to the bundle of Hulu on Disney+ will start at $2 more per month, Disney said.