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Archivo del Autor: Belen De Leon

As its own reports reveal the disaster of climate inaction, Trump proposes climate inaction

If the current presidential administration’s approach to climate change could be summarized in one sentence, it seems that sentence would be “smoke em if you got em.”

By the administration’s own estimate, on its current course (if nations around the world do nothing more to respond to the climate change threat) the planet will warm by 7 degrees by the end of the century. It means, as one Twitter commentator pointed out, that climate change is not only real, but catastrophic… and the response is to burn more carbon because we’re all dead anyway.

If global temperatures rise 7 degrees, much of coastal America will find itself underwater. Ocean acidification will dissolve coral reefs and the world can expect dramatically more powerful and more damaging storms and more severe droughts and heatwaves.

However, as The Washington Post reported, the dire assessment of the world’s climate situation wasn’t made with an eye toward trying to find solutions to the problem, merely to illustrate that the planet is already doomed.

The revelations of our planet’s fate came buried in a 500-page report from the National Traffic Highway Safety Administration study that was meant to justify President Trump’s decision to drop fuel efficiency standards for cars and trucks built after 2020.

The administration’s argument is: if no one does anything more to combat climate change, then the world will be destroyed anyway, so there’s no point in doing anything to try and combat climate change.

The (lack of) logic explains why the administration has rolled back emissions reduction requirements on methane (from oil and gas drilling and industrial animal farming), carbon dioxide (for coal fired power plants), and hydrofluorocarbons (used in refrigerators and air conditioners).

The NTHSA report projects that global temperatures will rise by roughly 3.5 degrees above the last average temperature before climate change began to affect (the years between 1986 and 2005) whether or not the rules on fuel efficiency standards are enacted or not.

The administration isn’t wrong in its assessment of where things stand now, but it is wrong in assuming that the current situation in any way reflects future realities.

As the analysis states, the world will have to drastically slash carbon to avoid the kind of disastrous warming scenario. However, the assumption that the analysis reaches (as quoted by The Post), that reducing emissions “would require substantial increases in technology innovation and adoption compared to today’s levels and would require the economy and the vehicle fleet to move away from the use of fossil fuels, which is not currently technologically feasible or economically feasible,” seems misplaced.

It also flies in the face of repeated assertions by the President that climate change is a hoax.

By acknowledging the existence of climate change and saying that nothing can be done to stop it, the new report provides a cover for all of the steps that have been taken by conservative lawmakers and the President’s cabinet to cut costs for industry.

Meanwhile, the Carolinas are still underwater from flooding brought on by Hurricane Florence (here are ways to donate), and the risk of wildfires continues to increase in the West.

This is fine.


Source: TechCrunch

Facebook’s latest security breach leaves 50 million accounts compromised

The latest security breach may have left 50 million Facebook accounts compromised. Facebook revealed that it is only beginning to investigate the breach and that 90 million users were logged off of the network as a precaution.

The post Facebook’s latest security breach leaves 50 million accounts compromised appeared first on Digital Trends.


Source: Digital trends

The 7 most eyebrow-raising details in the Elon Musk fraud complaint

The securities fraud complaint filed by the U.S. Securities and Exchange Commission against Tesla CEO Elon Musk contains an eye-opening view into the events leading up to the “funding secured” tweet heard round the internet.

And luckily, TechCrunch has read through the document and highlighted the most compelling details, including new insights from the SEC’s investigation.

But first, the nuts and bolts: The SEC filed a complaint Thursday in federal district court alleging that Musk lied when he tweeted on August 7 that he had “funding secured” for a private takeover of the company at $420 per share. Federal securities regulators reportedly served Tesla with a subpoena just a week after the tweet. Investigations can take years before any action is taken, if at all.

In this case, the investigation, which regulators say is continuing, progressed to a complaint within six weeks.

The SEC alleges that Musk violated anti-fraud provisions of the federal securities laws. The commission has asked the court to fine Musk and bar the billionaire entrepreneur from serving as an officer or director of a public company. That’s a big deal, and one Musk will certainly fight.

In a statement sent to TechCrunch, Musk described fraud charges an “unjustified action” that has left him “deeply saddened and disappointed.”

Here are some of the key takeaways and nuggets pulled from the complaint, which includes details of the SEC’s investigation:

The fund’s interest in Tesla

Musk met with representatives of a sovereign investment fund (Saudi Arabia’s sovereign wealth fund) three or four times beginning in January 2017. There was never a formal agreement, but the fund did express a “verbal desire” to make a big investment in Tesla and establish a production facility in the Middle East, according to the complaint. 

After months without contact, Musk met with the fund’s lead representative on July 31. This is when he learns the fund has acquired almost 5 percent of Tesla’s common stock.

According to the complaint, the representative expresses interest in taking Tesla private and asks about establishing a production facility in the Middle East. Musk said he was open to the idea, but did not make a commitment.

The representative did tell Musk that as long as the terms were “reasonable,” the fund would be fine with them. However, the pair never discussed specific deal terms during the meeting or talked about what would or would not be “reasonable.” Nothing was exchanged in writing, and there was no discussion of confidentiality, according to the complaint.

Musk did not communicate with representatives of the fund again about a going-private transaction until August 10, three days after his August 7 statements, the complaint states.

The Saudi sovereign wealth fund agreed in September to invest $1 billion into electric vehicle startup Lucid Motors.

The tweet was not some whim

Some have speculated that Musk’s August 7 tweet was just a silly impulse, particularly because the proposed shared price was a reference to marijuana. But regulators show in the complaint that Musk was talking to the board about an offer to take Tesla private as early as August 2 when he sent to Tesla’s board of directors, chief financial officer and general counsel an email with the subject, “Offer to Take Tesla Private at $420.”

The email laid out his reasons for wanting to take Tesla private, including that being public “[s]ubjects Tesla to constant defamatory attacks by the short-selling community, resulting in great harm to our valuable brand,” according to the complaint.

The $420 share price

According to the complaint, Musk calculated the $420 price per share based on a 20 percent premium over that day’s closing share price because he thought 20 percent was a “standard premium” in going-private transactions.

This calculation resulted in a price of $419. Musk stated that he rounded the price up to $420 because he had recently learned about the number’s significance in marijuana culture and thought his girlfriend “would find it funny, which admittedly is not a great reason to pick a price,” according to the complaint.

A 50-50 chance

Musk’s August 7 tweet indicated that funding had been secured. The complaint lays out a much different account.

Musk thought that there was “a lot of uncertainty” regarding a potential going-private transaction at the time of his August 2 email to Tesla’s board, “but it was worth investigating,” according to the complaint.

He believed at the time that the likelihood of consummation of a transaction was about 50 percent, the complaint says.

Permission granted, request ignored

Musk had a call with the board on August 3, the day after he sent the email. He told the board he wanted to contact existing shareholders to assess their interest in participating in a going-private transaction, the complaint said.

The board authorized him to contact certain investors and report back on those conversations.

Musk never spoke to any shareholders. He had a conversation with a private equity fund representative about the process, according to the complaint. But he didn’t contact any additional potential strategic investors to assess their interest.

He also did not provide the board with a specific proposal, contact existing shareholders to determine if they would remain invested in Tesla as a private company, retain any advisers or determine whether retail investors could remain invested in Tesla as a private company.

Four days after the call he sent the tweet.

An unprecedented transaction structure

During his conversation with a private equity fund partner, who had previous experience with such transactions, Musk said the number of Tesla shareholders needed to be below 300, according to the complaint.

But here’s the problem. Tesla had more than 800 institutional shareholders and many more individual shareholders at the time.

The private equity fund partner said the transaction structure that Musk was contemplating was “unprecedented” in his experience, according to the complaint.

Is it legit?

Musk’s August 7 tweet triggered a maelstrom of calls, emails and texts from the board, executive staff, analysts and press. Confusion was the theme early on.

In one example, Tesla’s head of investor relations, Martin Viecha, sent a text to Musk’s chief of staff (Sam Teller) about 12 minutes after the initial tweet asking “Was this text legit?”

Teller and Viecha would receive more communications from press and shareholders. One reporter emailed Musk asking “Are you just messing around?” The reporter wrote, “Reaching out to see what’s going on with your tweets about taking the company private? Is this just a 420 joke gone awry?”


Source: TechCrunch

Spotify ends test that required family plan subscribers to share their GPS location

Spotify has ended a test that required its family plan subscribers to verify their location, or risk losing accessing to its music streaming service. According to recent reports, the company had sent out emails to its “Premium for Family” customers which asked them to confirm their locations using GPS. The idea here is that some customers may have been sharing Family Plans, even though they’re not related, as a means of paying less for Spotify by splitting the plan’s support for multiple users. And Spotify wanted to bust them.

Spiegel Online and Quartz first reported this news on Thursday.

Of course, as these reports pointed out, asking users to confirm a GPS location is a poor means of verification. Families often have members who live or work outside the home – they may live abroad, have divorced or separated parents, have kids in college, they may travel for work, or any other number of reasons.

But technically, these sorts of situations are prohibited by Spotify’s family plan terms – the rules require all members to share a physical address. That rule hadn’t really been as strictly enforced before, so many didn’t realize they had broken it when they added members who don’t live at home.

Customers were also uncomfortable with how Spotify wanted to verify their location – instead of entering a mailing address for the main account, for instance, they were asked for their exact (GPS) location.

The emails also threatened that failure to verify the account this way could cause them to lose access to the service.

Family plans are often abused by those who use them as a loophole for paying full price. For example, a few years ago, Amazon decided to cut down on Prime members sharing their benefits, because they found these were being broadly shared outside immediate families. In its case, it limited sharing to two adults who could both authorize and use the payment cards on file, and allowed them to create other, more limited profiles for the kids.

Spotify could have done something similar. It could have asked Family Plan adult subscribers to re-enter their payment card information to confirm their account, or it could have designated select slots for child members with a different set of privileges to make sharing less appealing.

Maybe it will now reconsider how verification works, given the customer backlash.

We understand the verification emails were only a small-scale test of a new system, not something Spotify is rolling out to all users. The emails were sent out in only four of Spotify’s markets, including the U.S.

And the test only ran for a short time before Spotify shut it down.

Reached for comment, a Spotify spokesperson confirmed this, saying:

“Spotify is currently testing improvements to the user experience of Premium for Family with small user groups in select markets. We are always testing new products and experiences at Spotify, but have no further news to share regarding this particular feature test at this time.”

 

 

 


Source: TechCrunch

How to watch Microsoft’s Oct. 2 Surface event

October is almost here, which means that we’re closer to seeing refreshed Surface Pros and Surface Laptops at Microsoft’s October 2 event in New York. We’ll show you how to watch the event to stay updated on all the Surface news.

The post How to watch Microsoft’s Oct. 2 Surface event appeared first on Digital Trends.


Source: Digital trends

Ransomware attack hits Port of San Diego – CNET

There’s no safe harbor here.
Source: CNET

Smart Forease concept chops its top for Paris – Roadshow

The concept celebrates the automaker’s 20th birthday.
Source: CNET

OnePlus 6T promo teases its in-screen fingerprint sensor – CNET

OnePlus released a teaser video with the slogan “Unlock the Future.”
Source: CNET

These are the best National Coffee Day deals – CNET

Celebrate with a damn fine cup of joe — and some great savings on coffee and coffeemakers.
Source: CNET

'Fortnite' Season 6 Lands, and the Rest of the Week in Games

We’ve got skins, pets, and spooky purple lights everywhere—and even some stuff that isn’t ‘Fortnite.’
Source: Wired

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