Tootfinder

OpenAI: Von non-profit zum Profit-orientierten Unternehmen
Sam Altman soll Aktionären gesagt haben, OpenAI solle ein Profit-orientiertes Unternehmen werden – ohne die Kontrolle des Non-Profit Boards.
ht…

War for Profit: Corrupt Russia Officials Hide From Jail At the Front Lines: https://benborges.xyz/2024/04/17/war-for-profit.html

Proton is transitioning towards a non-profit structure.
Very interesting to see @… making this change and as a #ProtonPartner I'm super excited to see where this takes us going forward!

Proton is transitioning towards a non-profit structure | Proton
To ensure our mission always comes first, Proton is transitioning to a non-profit structure and formalizing our promise of people before profits.

Swiss privacy-focused app developer Proton establishes the Proton Foundation to transition to a nonprofit foundation model, similar to Signal and Mozilla (Paul Sawers/TechCrunch)
https://techcrunch.com/2024/06/17/privacy-a…

Privacy app maker Proton transitions to nonprofit foundation structure | TechCrunch
Proton is following in the footsteps of Signal and Mozilla by transitioning to a new non-profit foundation model.

I just don’t understand why Google is behaving like this… they seemed like such good people when they were just tracking your every move on the Internet and off to create detailed and constantly updated profiles of you to exploit for profit. What went wrong at this trillion-dollar surveillance capitalist?
#google #israel

#proton #nonprofit

Sam Altman wants to turn #OpenAI into a full for-profit. TBH that would at least be honest: Nothing about what OpenAI does is "open" in any way, shape or form.

tech “meritocracy” doesn’t reward fast, good, or cheap—it rewards profit

Corporation chasing overhyped tech in the quest for more profit instead of keeping environmental promises. News at 11.
#Microsoft

Don't miss today's Metacurity for the most critical infosec developments you should know, including
--Ringleader of Scattered Spider allegedly arrested in Spain
--Empire Market operators charged,--Identities of MuddyWater and Darkbit leaders allegedly exposed,
--Hacker claims Snowflake accounts were accessed through third-party,
--LA county public health attack exposed personal data for more than 200K,
--Thousands of UK train riders were subject to Amazon facial recognition,
--Amazon planned to circumvent GitHub's scraping policies,
--Meta's AI models on a privacy hold in Europe,
--Proton moving to non-profit model,
--much more
https://www.metacurity.com/p/ringleader-scattered-spider-allegedly-arrested-spain

Child care now costs more than housing in all 50 states | Fortune
https://fortune.com/2024/05/16/child-care-costs-more-than-housing-in-all-50-states/

If you thought rent was bad, child care now costs more than housing in all 50 states
With low wages for child care providers, razor-thin profit margins, and inadequate funding, it’s a deeply broken industry.

TSMC reports Q1 revenue up 16.5% YoY to NT$592.64B ($18.87B) vs. NT$582.94B est., profit up 8.9% YoY to NT$225.49B vs. NT$213.59B est., on strong AI chip demand (Sheila Chiang/CNBC)
https://www.cnbc.com/2024/04/18/tsmc-q1-2024-earnings-on-strong…

@… Ist das #Datenschutz technisch in Ordnung, dass eine Webseite sein Belegungsplan so offen lässt: https:…

Re https://aus.social/@kate/112628561587625023
I think part of the issue (besides racism & sexism; those are the biggest problems here) is that people have *different* models of what posting is like. My model has always been "yelling in a public square, which has very different norms than "chatting in a pub." I saw this as the main distinction between Twitter & Facebook back in 2007 or so. However, as social media has morphed from a fringe curiosity to something omnipresent, it probably makes more sense to follow the pub norms by default.
Also, regardless of norms, white men specifically need to learn to respond better to mild social pushback (myself included). Structures of hierarchy including kyrarchy & white supremacism teach that we can demand attention, answers, respect, and deference, even when we give none of those things, plus they intentionally baggage us with a parcel of myths that has us unconsciously enforcing hierarchies beyond the conscious shit we pull.
"Admins are almost exclusively white geeks" is a problem that contributes here, and it's one almost any open-source federated thing will have, but just because it's a better problem than "admins are at the whim of one billionaire and actively encourage thr worst in us for profit," doesn't mean it's not a problem that deserves both technical & social attention.

I would say their cancelled removable phones project was exciting tech.
*Project Ara*
Imagine able to swap out any part in a phone as seen fit. It’s like a @… phone
From: @…

«Publicly-traded tech giants “are beholden to the share price, not to doing what’s right for the customer all the time. That’s just a reality of capitalism. You’re never going to change that in a public company because at the end of the day, they want the shareholder value to go up.”»
How can these bad incentives be compensated or eliminated? (Without a 180° turn of the entire society)
#Security

The media and journalism worlds have been beaten up for so many years that it's hard to have hope. But the indie, worker-owned or non-profit digital media outlets that we see rising today remind me of how alt-weeklies used to inspire us in the last century. Maybe the New Alt Media is one vital way forward. https://www.

The New Alt Media and the Future of Publishing - Anil Dash
A blog about making culture. Since 1999.

1) This is great news; it's the first office building in #LdnOnt to be converted to residential.
2) I can only imagine the glee on so many people's faces that it's being done in the literal back yard of the city's most notorious owner of vacant buildings.

"Human hair: A surprisingly effective way to soak up oil spills"
#Oil #Environment
https://

Human hair: A surprisingly effective way to soak up oil spills
In a world of weird, this one ranks up there... A non-profit out of San Francisco, California, is cleaning up oil spills using the naturally adsorbent properties of human hair, woven into thick mats that soak up a gallon and a half at a time.

Unheilige Allianz - Wie Elon Musk die Ultrarechten für Profit umgarnt #News #Nachrichten

What a sad and pathetic grift this is. You almost have to feel sorry for the Trump cultists who are going to lose everything.
The entire company has less revenue than a single Starbucks coffee shop. It will never, ever make a profit. It’s not even trying to; instead it’s shoveling investors’ cash as fast as it can into the pockets of Trump’s cronies.
Fine reporting by @…

Small-time investors in Trump’s Truth Social reckon with stock collapse
Trump Media shareholders have voiced doubt and fury over the company’s plunging price. Some said they had invested thousands to show Trump their faith and support.

In-n-Out raises menu prices — YES
Due to minimum wage increases — NO
In-n-Out is debt-free and privately owned by a billionaire. Last year they made $4.8B in revenue, or $378k per employee. Their profit margin is about 20%, so they made about $76k profit per employee. Assuming all employees are at minimum wage (they are not), a $1/hr increase and 2000 hours per year would still net them $74k per employee. The actual effect is probably far less.
This is not about minimum w…

Activision cuts entry fees for teams in its professional Call of Duty League, and will return collected fees, as the esports industry faces financial challenges (Cecilia D'Anastasio/Bloomberg)
https://www.bloomberg.com/news/articles/20

Call of Duty League Billionaire Owners Get Break from Microsoft
Microsoft Corp.’s Activision unit is offering teams competing in its professional Call of Duty League financial relief as the esports industry faces broad challenges generating profit.

Odd Wilson surfaces
Olga Chekeres, Vladimir Salnikov
https://arxiv.org/abs/2403.09820 https://arxiv.org/pdf/2403.09820

Odd Wilson surfaces
Previously, Wilson surface observables were interpreted as a class of Poisson sigma models. We profit from this construction to define and study the super version of Wilson surfaces. We provide some `proof of concept' examples to illustrate modifications resulting from appearance of odd degrees of freedom in the target.

The F Word
Great Australian Pods Podcast Directory: #GreatAusPods

The F Word | Great Australian Pods Podcast Directory
Podcast: The F Word By: Orange Sky Category: Leisure Sub-Category: Non-Profit & Charities, Personal Stories First Episode: 2024 Have you ever thought about what it’s like to be homeless?

This https://arxiv.org/abs/2205.06812 has been replaced.
link: https://scholar.google.com/scholar?q=a

Principal-Agent Hypothesis Testing
Consider the relationship between a regulator (the principal) and an experimenter (the agent) such as a pharmaceutical company. The pharmaceutical company wishes to sell a drug for profit, whereas the regulator wishes to allow only efficacious drugs to be marketed. The efficacy of the drug is not known to the regulator, so the pharmaceutical company must run a costly trial to prove efficacy to the regulator. Critically, the statistical protocol used to establish efficacy affects the behavior of…

✈️ Boeing locks out private firefighters after contract talks break down
#boeing

Boeing locks out private firefighters after contract talks break down
The locked-out firefighters work at factories where profit-driven negligence produced fatal defects on many of its planes.

WBD reports a $86M profit in Q1 for its DTC unit, which includes streaming, up from $50M in Q1 2023, and 99.6M streaming subscribers, up from 97.7M in Q4 2023 (Georg Szalai/The Hollywood Reporter)
https://www.hollywoodreporter.c…

Warner Bros. Discovery Hits $86M Streaming Unit Profit, 99.6M Subs, Studios Profit Drops 70 Percent
The David Zaslav-led company posted a first-quarter drop of 11 percent in networks unit advertising revenue; its studios unit was hit by the strikes' fallout and weaker gaming results.

2023 retro-link! https://joelgustafson.com/posts/2023-05-04/merklizing-the-key-value-store-for-fun-and-profit - Prolly trees: Merklizing the key/value store for fun and profit.

Forgiving medical debt after it is sent to collections has fewer benefits – study
“If you’re intervening only after the debt has been sent to collections or after the hospital has been collecting on it for a year, there’s very little benefit,” said Kluender.
The findings are likely to disappoint legislative leaders. At least 15 states and local jurisdictions have worked with "RIP Medical Debt" to relieve debts for their constituents.
Many, such as Arizona and Con…

Last week the California’s Attorney General announced it had reached a $4.5m dollar settlement with for-profit diploma mill #UniversityofPhoenix for predatorily scamming military veterans on the #GIBill. It was a #whistleblower

Are for-profit universities taking advantage of veterans?
Since 2009, the G.I. Bill has paid up to $21,000 a year of college tuition for those who served in Iraq or Afghanistan. Much of that money, though, goes to for-profit schools, which award degrees some employers don't recognize. Aaron Glantz of the Center for Investigative Reporting and "Reveal" reports.

lol both Mastodon and Bluesky now have Twitter cofounders on their boards and both have blockchain people as well
(Update: here’s the link to announcement of new US-based nonprofit: https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit/…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

#Microsoft Refused to Fix Flaw Years Before #SolarWinds Hack
https://www.

What a "surprise" development.
https://www.theinformation.com/articles/openai-ceo-says-company-could-become-benefit-corporation-akin-to-rivals-anthropic-xai

OpenAI CEO Says Company Could Become Benefit Corporation Akin to Rivals Anthropic, xAI
OpenAI CEO Sam Altman recently told some shareholders that the artificial intelligence developer is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, according to a person who heard the comments. One scenario Altman said the ...

Some concerns about the potential influence of private profit motives on the quality and accessibility of education
https://easysociology.com/sociology-of-education/the-link-between-private-profit-and-academisation-in-sociology/

Hope Is a Practice and a Discipline: Building a Path to a Counterculture of Care - Non Profit News | Nonprofit Quarterly https://nonprofitquarterly.org/hope-is-a-practice-and-a-discipline-building-a-path-to-a-counterculture…

Hope Is a Practice and a Discipline: Building a Path to a Counterculture of Care - Non Profit News | Nonprofit Quarterly
We are wading through hell and high water, tasked with dreaming new worlds into being while the worlds we have known fall down around us. Here, on the edge of everything, the work of cultivating hope and purpose, of anchoring people to one another, is as important now as it has ever been, at any time in human history—because without those efforts, we would be lost in the dark.

I would say their cancelled removable phones project was exciting tech.
*Project Ara*
Imagine able to swap out any part in a phone as seen fit. It’s like a @… phone
From: @…

Worrying: #MastodonGGmbH had its non-profit status revoked in Germany.
https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit/

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

Court packer Leo shifted $6 million from his non-profit to his pocket - National Zero
https://nationalzero.com/2024/06/07/court-packer-leo-shifted-6-million-from-his-non-profit-to-his-pocket/

Reading @… message about Mastodon US, really wondering why german government removed the non-profit status.
https://blog.joinmastodon.org/2024/04/

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

“As of 2022, there are 1,225 hate groups in the US, according to the non-profit legal group Southern Poverty Law Center. While specific views vary between these & other groups, they are generally all galvanized by curtailing government power or hatred toward individuals of certain races, religions, ethnicities, or sexual orientations. These groups are active in all 50 states, but in some parts of the country, they are far more common than in others.”

This is the US State With the Highest Concentration of Hate Groups: All 50 Ranked
The first hate group to be formed in the United States was the Ku Klux Klan, which was formed in 1865. Since then hate groups have thrived with new groups being formed often. Hate groups in the US include far-right political parties, neo-Nazi movements, and apolitical protest groups.As of 2022, there are 1,225 hate groups […]

By the way, my top post this time is this one, from @… - https://flipboard.com/@euronews/business-m1eitu69…

JPMorgan opens earnings season with profit rise and risk warning
JPMorgan reports a 6% rise in 1Q profits as bank earnings season begins. Wells Fargo profit falls. The largest US bank JPMorgan kicked off earnings …

The company that just unleashed a screenlogger without privacy controls says that security is their top priority. Having trouble with some cognitive dissonance here. 🤔
I'm not one of those who hold a grudge for old "Linux is cancer" comments, nor one of those who believed the "Microsoft loves Linux" marketing campaign. I also don't expect a company to act as if it were a single organism with a unified consciousness — when you see that, run screaming in terror. But I do think that "pret…

Wonderful. Ex-Twitter person and a crypto-hyper are on the board of the newly-founded Mastodon US non-profit:
https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit/

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

Sources: Shein recorded $32.2B in sales in 2023, up 40% YoY, compared with 37% YoY growth in 2022, and doubled its net profit to $1.6B, for a 5% profit margin (Jing Yang/The Information)
https://www.theinformation.com/articles/sh

Shein’s 40% Revenue Growth and Profit Boost in 2023 Could Help Lure IPO Investors
China-founded fast fashion giant Shein lifted its net profit margin even as it posted slightly faster revenue growth in 2023, two people with direct knowledge of its finances said. That performance should help Shein lure investors for a highly anticipated initial public offering—if it can ...

#Microsoft Chose Profit Over Security and Left U.S. Government Vulnerable to Russian Hack, Whistleblower Says
“Former employee says software giant dismissed his warnings about a critical flaw because it feared losing government business. Russian hackers later used the weakness to breach the National Nuclear Security Administration, among others.”

Whistleblower Says Microsoft Dismissed Warnings About a Security Flaw That Russians Later Used to Hack U.S. Government
Former employee says software giant dismissed his warnings about a critical flaw because it feared losing government business. Russian hackers later used the weakness to breach the National Nuclear Security Administration, among others.

Oh man, Biz Stone.
you_blew_it_up_god_damn_you_planet_of_the_apes.gif
Praise be for the Fedi projects that aren't Mastodon, I guess.
https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit/

A pretty crazy week last week. $500 profit.

"Love what you do, do what brings" profit. But what is #profit? Quoting #Marx: 'Without knowledge of surplus value, no theory of profit is possible.' Karl Marx, Theories about Surplus Value II, MEW 26.2, 376. Find more here (in German)

Odd Wilson surfaces
Olga Chekeres, Vladimir Salnikov
https://arxiv.org/abs/2403.09820 https://arxiv.org/pdf/2403.09820

Odd Wilson surfaces
Previously, Wilson surface observables were interpreted as a class of Poisson sigma models. We profit from this construction to define and study the super version of Wilson surfaces. We provide some `proof of concept' examples to illustrate modifications resulting from appearance of odd degrees of freedom in the target.

„Die aktuelle Kontroverse zwischen Signal und Telegram wirft einige interessante Fragen zu #Transparenz, #Datenschutz und Sicherheit von Chat-Apps auf:“
From: @…

Can a non-profit Society in Canada without charitable status own land?
#AskFedi
Answered, yes, under the BC Societies act:
https://www.bclaws.gov.bc.ca/civix/documen…

Wie kommt es zur US Hegemonie in der IT?
Durch das deutsche Finanzamt!! Die Leute sind einfach kaputt im Hirn! #cumex
https://blog.joinmastodon.org/2024/04/ma…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

#Mastodon hat in Deutschland den Gemeinnützigkeitsstatus vom Finanzamt aberkannt bekommen und hat dann einfach prompt ne 501(c)(3) in den USA gegründet. Das #Gemeinnützigkeitsrecht in Deutschland lässt soviel zu wünschen übrig, dass es nicht mal in den wenigen Fällen funktioniert, in…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

Source: Sam Altman recently told some investors that OpenAI is considering changing to a for-profit benefit corporation that its nonprofit board doesn't control (The Information)
https://www.theinformation.com/articles/op

OpenAI CEO Says Company Could Become Benefit Corporation Akin to Rivals Anthropic, xAI
OpenAI CEO Sam Altman recently told some shareholders that the artificial intelligence developer is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, according to a person who heard the comments. One scenario Altman said the ...

lol both Mastodon and Bluesky now have Twitter cofounders on their boards and both have blockchain people as well
(Update: here’s the link to announcement of new US-based nonprofit: https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit/…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

Co-founder of Twitter joins new Mastodon board of directors. Right, so federating with Threads wasn’t a mistake. This is just the direction Mastodon is going. Oh, well. Another Mozilla emerges.
https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

The "creator economy" is a shiny veneer hiding an ugly truth:
it has nothing to do with empowering creators.
It's exploiting them for maximum profit.
Tech has sold us a fairy tale that dedicating yourself to your creative passion can be a viable career path in the modern world.
But they conveniently leave out the part where they ruthlessly exploit those creators to line their pockets.
Take Spotify, for example. They love to tout how they "sup…

It’s an exploiter economy. Not a creator economy. — Joan Westenberg
The creator economy is a shiny veneer hiding an ugly truth: it has nothing to do with empowering creators. It's exploiting them for maximum profit. Tech has sold us a fairy tale that dedicating yourself to your creative passion can be a viable career path in the modern world. But they conveniently

Disney reports Disney Core, which excludes Disney Hotstar in India and other Southeast Asian countries, subscribers up 6% QoQ to 117.6M in Q2, above forecasts (Todd Spangler/Variety)
https://variety.com/2024/tv/news/disney-q2-2024-earnings-s…

Disney Reports First Streaming Profit, Disney+ Tops 117 Million Subs
Disney's entertainment streaming division, anchored by Disney+, scored its first profitable quarter for the first three months of 2024.

Sources: ByteDance's EBITDA rose 60% YoY in 2023 to $40B and its sales rose from $80B to $120B, the first time ByteDance surpassed Tencent in revenue and profit (Bloomberg)
https://www.bloomberg.com/news/articles/20…

ByteDance Profit Jumps 60%, Taking It Past Archrival Tencent
ByteDance Ltd.’s profit surged roughly 60% in 2023, outpacing the growth of online peers Tencent Holdings Ltd. and Alibaba Group Holding Ltd. in a sign of the TikTok owner’s resilience in the face of an economic downturn.

Interesting choice of board members for the new Mastodon US not-for-profit. Inasmuch directors influence the direction of the project towards their areas of interest, it tells us something where they are planning to go.
https://blog.joinmastodon.org/2024/04/

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

"I am mad that vital human institutions and practices are being threatened, contorted, disrupted, killed off, that hundreds or thousands of people doing this kind of work are unemployed, are fighting for their right to earn a living, because a handful of tech companies have seen fit to profit at their expense, no matter the human cost."
(Original title: For artists, writers, humans, big tech's mission has been clarified: "Crush!")

"Crush!"
On the AI-abetted death of VICE and Apple’s handy new visual metaphor for the campaign to squeeze human works into commoditized output paste

A pretty crazy week last week. $500 profit.

It is essential that journalism uncovers blatant lies or unethical, posdibly illegal market activities.
But it doesn't lend credibility if the news outlet (or their owners) directly or indirectly benefit from stock market effects they expect to cause.
Complicated legal constructions always leave a bad taste. Having to create three companies to separate investigation from profit does not help here.
h/t @…

Foxconn reports Q1 revenue down 9% YoY to ~$40.9B, net profit up 72% YoY to ~$679M, and consumer electronics was 48% of its revenue while cloud was 28% (CNBC)
https://www.cnbc.com/2024/05/14/apple-supplier-foxc…

📈 A Phoenix Rising From the Ashes: How Nikon Found Its Way Back to Profit
https://petapixel.com/2024/05/13/a-phoenix-rising-from-the-ashes-how-nikon-found-its-way-back-to-profit/

A Phoenix Rising From the Ashes: How Nikon Found Its Way Back to Profit
Nikon is thriving, but it was touch-and-go for a while.

Online Learning in Betting Markets: Profit versus Prediction
Haiqing Zhu, Alexander Soen, Yun Kuen Cheung, Lexing Xie
https://arxiv.org/abs/2406.04062 http…

Online Learning in Betting Markets: Profit versus Prediction
We examine two types of binary betting markets, whose primary goal is for profit (such as sports gambling) or to gain information (such as prediction markets). We articulate the interplay between belief and price-setting to analyse both types of markets, and show that the goals of maximising bookmaker profit and eliciting information are fundamentally incompatible. A key insight is that profit hinges on the deviation between (the distribution of) bettor and true beliefs, and that heavier tails …

Sony Pictures reports Q4 revenue up 1.1% YoY to ~$2.74B, profit up 75% YoY to $208M, and FY 2023 revenue up 1.7% YoY to ~$10.31B, weighed down by the strikes (Jesse Whittock/Deadline)
https://deadline.com/2024/05/sony-pictu…

Sony Pictures Entertainment Full-Year Profits Fall Nearly 10% To $808M
Sony Pictures Entertainment has seen operating income fall nearly 10% for the fiscal year ended March 31, 2024.

Out of curiosity, I've been checking out #TikTok, and their algorithm almost exclusively serves me cute animal videos.
Honestly... better than anything meta, or twitter ever served up.
And yes, it's spying on me, just like any other for-profit social media platform.

Russia's Sberbank reports $4.32 billion profit, dividends to boost Kremlin war chest: https://benborges.xyz/2024/04/26/russias-sberbank-reports.html

Class action says jails stopped live visits to turn profit on streaming services
https://lawandcrime.com/civil-rights/i-need-to-see-my-dad-in-person-jails-banned-in-p…

'I need to see my dad in person': Jails stopped visits to turn profit, lawsuits allege
Families have filed class action lawsuits alleging Michigan counties are engaged in an illegal kickback scheme with prison telecom companies to end in-person visits and increase costly online visits.

Hundreds of starving and stranded brown pelicans have turned up along the Californiacoast in recent weeks
in what wildlife advocates have described as a “crisis”.
In Newport Beach in southern California, lifeguards came upon two dozen sick pelicans on a pier last week.
The Wetlands and Wildlife Care Center in Huntington Beach,
the non-profit caring for the animals,
said they had treated more than 100 other birds who were anemic, dehydrated and extremely underwe…

It is essential that journalism uncovers blatant lies or unethical, posdibly illegal market activities.
But it doesn't lend credibility if the news outlet (or their owners) directly or indirectly benefit from stock market effects they expect to cause.
Complicated legal constructions always leave a bad taste. Having to create three companies to separate investigation from profit does not help here.
h/t @…

📉 Gucci owner Kering issues profit warning after China sales slump
https://www.theguardian.com/business/2024/mar/20/gucci-owner-kering-profit-warning-china-sales-slump

Hundreds of starving and stranded brown pelicans have turned up along the Californiacoast in recent weeks
in what wildlife advocates have described as a “crisis”.
In Newport Beach in southern California, lifeguards came upon two dozen sick pelicans on a pier last week.
The Wetlands and Wildlife Care Center in Huntington Beach,
the non-profit caring for the animals,
said they had treated more than 100 other birds who were anemic, dehydrated and extremely underwe…

Block plans to invest 10% of its gross profit from bitcoin products each month into bitcoin purchases; its $220M BTC investment grew by ~160% to $573M as of Q1 (Paige Smith/Bloomberg)
https://www.bloomberg.com/news/articles/20

Block to Flip 10% of Bitcoin Profit Into Bitcoin Investments
Block Inc. lifted its full-year profit guidance and revealed plans to invest a portion of its profits from Bitcoin back into the assets, as Jack Dorsey’s company bets big on the currency’s future.

Tencent Music reports Q1 revenue down 3.4% YoY to $937M, profit up 27.5% YoY to $212M, music subscription revenue up 39.2% YoY to $501M, and 113.5M paying users (Priyanka.G/Reuters)
https://www.reuters.com/technology/tencent-music-bea…

Sea reports Q1 revenue up 23% YoY to a record $3.73B and a $23M net loss, Shopee's revenue grew 31% YoY to a record $2.95B, and expects 2024 to be profitable (Tsubasa Suruga/Nikkei Asia)
https://t.co/vY7dy81f0V

Singapore's Sea posts record revenue in Q1 on e-commerce growth
Tech group 'on track' for second straight annual profit despite stiff competition

Tencent Music reports Q1 revenue down 3.4% YoY to $937M, profit up 27.5% YoY to $212M, music subscription revenue up 39.2% YoY to $501M, and 113.5M paying users (Priyanka.G/Reuters)
https://www.reuters.com/technology/tencent-music-bea…

Billionaire Leonard Leo rejects Senate subpoena over gifts to justices
Multiple reports, led by the non-profit newsroom ProPublica, have described undisclosed gifts including luxury travel and resort stays given to Clarence Thomas and Samuel Alito, long-serving hardline court rightwingers.
Thomas and Alito deny all wrongdoing. The chief justice, John Roberts, has refused to testify in Congress. The court issued a new ethics code but it is enforceable only by the justices themselv…

Huawei reports Q1 revenue up 37% YoY to ~$24.7B and net profit up 564% YoY to ~$2.7B, rising for the fourth consecutive quarter, buoyed by smartphone sales (Bloomberg)
https://www.bloomberg.com/news/articles/2024-04-30/huaw…

Huawei Profit Surges 564% As It Eclipses Apple in China
Huawei Technologies Co.’s profit rose for the fourth consecutive quarter, a sign the Chinese tech company is taking market share from Apple Inc. and other smartphone rivals.

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Nintendo reports net profit up 13% YoY to ~$3.2B in the past fiscal year and expects profit to drop 39% YoY and revenue to drop 19% YoY in this fiscal year (Kosaku Narioka/Wall Street Journal)
https://www.wsj.com/tech/nintendo-projects-profit…

The publisher of Hunterbrook Media failed to disclose it owns a stake in a rival to a company that was recently the subject of a critical Hunterbrook article (Max Tani/Semafor)
https://www.semafor.com/article/05/12/2024

Short-selling news startup didn’t disclose investment in anti-hangover drink | Semafor
A new exposé by Hunterbrook Media, the startup newsroom whose parent company places stock market bets to profit from its journalism, raises questions about trust.

Coinbase reports Q1 net revenue up 116% YoY to $1.59B, vs. $1.32B est., net income of $1.18B, consumer transaction revenue of $935M, up 99% QoQ (Olga Kharif/Bloomberg)
https://www.bloomberg.com/news/articles/2024-05-02/coinb…

Coinbase’s (COIN) First-Quarter Profit, Revenue Top Forecasts
Coinbase Global Inc. posted higher-than-forecast first-quarter revenue and profit as a resurgence in cryptocurrency prices reawakened demand from individual investors.

The publisher of Hunterbrook Media failed to disclose it owns a stake in a rival to a company that was recently the subject of a critical Hunterbrook article (Max Tani/Semafor)
https://www.semafor.com/article/05/12/2024

Short-selling news startup didn’t disclose investment in anti-hangover drink | Semafor
A new exposé by Hunterbrook Media, the startup newsroom whose parent company places stock market bets to profit from its journalism, raises questions about trust.

Tencent reports Q1 revenue up 6% YoY to ~$22B, above ~$21.95B est., and net profit up 62% YoY to ~$5.8B, above ~$4.8B est., boosted by new WeChat monetization (Zheping Huang/Bloomberg)
https://www.bloomberg.com/news/articles/20

Sony reports Q4 revenue up 14% YoY to ~$22.4B, above ~$18.5B est., operating profit up 57% YoY to ~$1.5B, and sold 20.8M PS5 units in FY 2023, below guidance (Ryan Browne/CNBC)
https://www.cnbc.com/2024/05/14/sony-q4-and-full-year-2023-earnings.html…

Mastodon forms a new US non-profit, to receive tax-deductible US donations and in-kind support, with Twitter co-founder Biz Stone and others on its board (Eugen Rochko/Mastodon Blog)
https://blog.joinmastodon.org/2024/04/mastodon-forms-new-u.s.-non-profit…

Mastodon forms new U.S. non-profit
As part of our commitment to supporting the growth and operational capabilities of Mastodon, we have established a 501(c)(3) non-profit entity in the United States aimed at facilitating our efforts, including being able to receive tax-deductible U.S. donations.

US authorities arrest and charge the founder and the head doctor of telehealth company Done Global for an alleged scheme to profit from Adderall prescriptions (Rolfe Winkler/Wall Street Journal)
https://www.

PayPal reports Q1 revenue up 9% YoY to $7.7B, payment volume up 14% YoY to $404B, transaction margin dollars up 4% YoY to $3.5B, and expects 2024 profit to drop (Paige Smith/Bloomberg)
https://www.bloomberg.com/news/articles/20

PayPal (PYPL) Forecasts Decline in 2024 Profit Amid ‘Transition Year’
PayPal Holdings Inc. said it expects earnings to fall this year as the financial-technology company continues to work on cutting costs and streamlining its businesses.

Lithuanian second hand marketplace Vinted reports 2023 revenue up 61% YoY to €596.3M and a €17.8M net profit, up from a €20.4M loss in 2022 (Zosia Wanat/Sifted)
https://sifted.eu/articles/vinted-startup-lithuania-profit-news/

Vinted reaches profitability and reports 61% revenue growth last year
The Vilnius-based company is backed by some of the world’s leading VC firms, including Accel, Lightspeed, EQT and Insight Partners.

Former Microsoft employee Andrew Harris says the company dismissed his warnings about a critical flaw that led to the 2021 SolarWinds hack; Harris left in 2020 (ProPublica)
https://www.propublica.org/article/microsoft-solarwinds-gold…

Microsoft Chose Profit Over Security and Left U.S. Government Vulnerable to Russian Hack, Whistleblower Says
Former employee says software giant dismissed his warnings about a critical flaw because it feared losing government business. Russian hackers later used the weakness to breach the National Nuclear Security Administration, among others.

Block Q1: revenue up 19% YoY to $5.96B, vs. $5.82B est., gross profit up 22% to $2.09B, Square profit up 19%, Cash App profit up 25%; SQ jumps 7% after hours (MacKenzie Sigalos/CNBC)
https://www.cnbc.com/2024/05/02/block-sq-earnings-q1-2024.html

Sources: Chinese social media startup Xiaohongshu reported its first profit with $500M in net profit on $3.7B revenue in 2023, and reached 312M MAUs, up 20% YoY (Financial Times)
https://t.co/9Libj5hhOy

Samsung estimates Q1 operating profit of $4.9B, up 931% YoY, and sales of $52.68B, up 11.4% YoY, as memory chip prices surge, hinting end of the chip downturn (Song Jung-a/Financial Times)
https://t.co/kseS7IYhjO

Monzo reports £880M in FY 2023-24 revenue, up from £355.6M in 2022, a £15.4M pretax profit, up from a £116.3M loss in 2022, 9.7M users, and £11.2B in deposits (Aisha S Gani/Bloomberg)
https://www.bloomberg.com/news/articles/20…