Feed aggregator

Chinese Venture Capitalists Force Failed Founders On To Debtor Blacklist

Slashdot.org - Tue, 01/07/2025 - 14:24
An anonymous reader shares a report: Chinese venture capitalists are hounding failed founders [non-paywalled source], pursuing personal assets and adding the individuals to a national debtor blacklist when they fail to pay up, in moves that are throwing the country's startup funding ecosystem into crisis. The hard-nosed tactics by risk capital providers have been facilitated by clauses known as redemption rights, included in nearly all the financing deals struck during China's boom times. "My investors verbally promised they wouldn't enforce them, that they had never enforced them before -- and in '17 and '18 that was true -- no one was enforcing them," said Neuroo Education founder Wang Ronghui, who now owes investors millions of dollars after her childcare chain stumbled during the pandemic. While they are relatively rare in US venture investing, more than 80% of venture and private equity deals in China contain redemption provisions, according to Shanghai-based law firm Lifeng Partners estimates. They typically require companies, and often their founders as well, to buy back investors' shares plus interest if certain targets such as an initial public offering timeline, valuation goals or revenue metrics are not met.

Read more of this story at Slashdot.

AI Startup Anthropic Raising Funding Valuing it at $60 Billion

Slashdot.org - Tue, 01/07/2025 - 13:50
Anthropic is in advanced talks to raise $2 billion dollars in a deal that would value it at $60 billion, making it the latest artificial-intelligence startup to seize upon investor euphoria for the technology. WSJ: The funding round is being led by the venture firm Lightspeed Venture Partners, people familiar with the matter said. The $60 billion valuation includes the money Anthropic plans to raise in the round. The deal would make Anthropic the fifth-most valuable U.S. startup after SpaceX, OpenAI, Stripe and Databricks, according to data provider CB Insights. It was valued last year at $18 billion in a round led by Menlo Ventures. There has been a dealmaking frenzy among AI companies since OpenAI raised $6.6 billion in an October round that nearly doubled its value to $157 billion. Two other startups, Elon Musk's xAI and Perplexity, subsequently raised money at substantially increased valuations.

Read more of this story at Slashdot.

Meta Ends Fact-Checking on Facebook, Instagram in Free-Speech Pitch

Slashdot.org - Tue, 01/07/2025 - 13:10
An anonymous reader shares a report: Mark Zuckerberg built up Facebook's content-policing efforts in the wake of Donald Trump's first presidential election. Now the Meta Platforms CEO is reversing course as he embraces a second Trump presidency. Meta is ending fact-checking and removing restrictions on speech across Facebook and Instagram, Zuckerberg said in a video Tuesday, a move he described as an attempt to restore free expression on its platforms. "We're going to get back to our roots and focus on reducing mistakes, simplifying our policies and restoring free expression on our platforms," Zuckerberg said in the video. He said Meta is getting rid of fact-checkers and, starting in the U.S., replacing them with a so-called Community Notes system similar to that on Elon Musk's X platform in which users flag posts they think need more context. While Meta will continue to target illegal behavior, Zuckerberg wrote in a separate post on Threads, it will stop enforcing content rules about immigration and gender that are "out of touch with mainstream discourse." Zuckerberg's plan is likely to reshape the experience of billions of people who use Meta's platforms. It steers sharply away from efforts started years ago in response to complaints from users, advertisers and politicians that abusive and deceptive content had run amok on Meta's suite of apps. The effort to rein in such speech sparked its own backlash from people -- especially on the political right -- who said it often strayed into censorship.

Read more of this story at Slashdot.

Popular DNA Sequencer Left Vulnerable By 7-Year-Old Firmware, Unfixed Security Flaws

Slashdot.org - Tue, 01/07/2025 - 12:28
A widely used DNA sequencer lacks crucial firmware security protections, potentially exposing genetic research facilities to cyberattacks, security researchers said on Tuesday. The Illumina iSeq 100, deployed at 23andMe and thousands of laboratories worldwide, runs on outdated BIOS firmware from 2018 that doesn't enforce Secure Boot protection against malware infections, ArsTechnica reported today, citing researchers from Eclypsium. The device's manufacturer, IEI Integration Corp, supplies motherboards to numerous medical equipment makers, suggesting similar vulnerabilities could affect other devices, Eclypsium said. Illumina said the issues were "not high-risk" and would notify customers if mitigations were needed.

Read more of this story at Slashdot.

5 ways to search what you see with Google Lens5 ways to search what you see with Google LensSenior Director, Product Management, Google Search

GoogleBlog - Tue, 01/07/2025 - 12:00
Google Lens uses AI to help you search the world around you. Here’s how to make the most of it.Google Lens uses AI to help you search the world around you. Here’s how to make the most of it.
Categories: Technology

Apple's AI Is Proving It's Anything But Intelligent

Slashdot.org - Tue, 01/07/2025 - 11:50
Complaints and ridicule have been mounting about mistakes by the iPhone maker's hyped feature, and its flaws risk a serious setback. Bloomberg: If you've seen any of Apple's marketing lately, you'll know the latest iPhone is billed as the first "built for Apple Intelligence." The "for" in that sentence is doing a great deal of work. It couldn't be "with" because Apple's AI features weren't ready when the device came out, and some are still yet to be released. The first were added to devices in iOS version 18.1, which came out in October. These AI bells and whistles require users to physically opt in, and Apple has deemed the product in "beta" despite marketing it as the main reason to buy its latest device. "Hello, Apple Intelligence" is the message greeting visitors to Apple.com today. If you go into a store, it's what the sales representatives push most excitedly. But just like the Maps fiasco, Apple's AI isn't ready for the real world. Complaints and ridicule have been mounting. In December, a BBC notification was rewritten by Apple Intelligence to state falsely that Luigi Mangione, who has been charged in the killing of United Healthcare CEO Brian Thompson, had turned a gun on himself. Last week, a summary crowned a darts champion before the match had started. Later the same evening, an alert falsely stated that Rafael Nadal had come out as gay. It's not just the BBC that's experiencing this issue. A New York Times headline was rewritten to suggest Israeli Prime Minister Benjamin Netanyahu had been arrested. "Nikki Glaser killed at Golden Globes," read another false summary. The mistakes have prompted the nonprofit Reporters Without Borders to call for Apple to "act responsibly" and remove the feature.

Read more of this story at Slashdot.

Nvidia Unveils $3,000 Personal AI Supercomputer

Slashdot.org - Tue, 01/07/2025 - 11:02
Nvidia will begin selling a personal AI supercomputer in May that can run sophisticated AI models with up to 200 billion parameters, the chipmaker has announced. The $3,000 Project Digits system is powered by the new GB10 Grace Blackwell Superchip and can operate from a standard power outlet. The device delivers 1 petaflop of AI performance and includes 128GB of memory and up to 4TB of storage. Two units can be linked to handle models with 405 billion parameters. "AI will be mainstream in every application for every industry," Nvidia CEO Jensen Huang said. The system runs on Linux-based Nvidia DGX OS and supports PyTorch, Python, and Jupyter notebooks.

Read more of this story at Slashdot.

Nvidia To Deploy AI Teammates in Video Games this Year

Slashdot.org - Tue, 01/07/2025 - 10:27
Nvidia has unveiled plans to introduce AI-powered autonomous characters in video games this year, starting with a virtual teammate in the battle royale game PUBG, the chip maker said at CES 2025 in Las Vegas. The technology, called ACE, enables in-game characters to communicate, make decisions and interact with players using small language models. The AI companions will also feature in Naraka: Bladepoint Mobile PC Version in March 2025 and other upcoming titles including inZOI and MIR5, Nvidia said.

Read more of this story at Slashdot.

Syndicate content
Comment