Reddit has filed its initial public offering (IPO) with the SEC on Thursday. "The company plans to trade on the New York Stock Exchange under the ticker symbol 'RDDT,'" reports CNBC. From the report: Its market debut, expected in March, will be the first major tech initial public offering of the year. It's the first social media IPO since Pinterest went public in 2019. Reddit said it had $804 million in annual sales for 2023, up 20% from the $666.7 million it brought in the previous year, according to the filing. The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app.

The company, founded in 2005 by technology entrepreneurs Alexis Ohanian and Steve Huffman, said it has incurred net losses since its inception. It reported a net loss of $90.8 million for the year ended Dec. 31, 2023, compared with a net loss of $158.6 million the year prior. [...] Reddit said it plans to use artificial intelligence to improve its ad business and that it expects to open new revenue channels by offering tools and incentives to "drive continued creation, improvements, and commerce." It's also in the early stages of developing and monetizing a data-licensing business in which third parties would be allowed to access and search data on its platform.

For example, Google on Thursday announced an expanded partnership with Reddit that will give the search giant access to the company's data to, among other uses, train its AI models. "In January 2024, we entered into certain data licensing arrangements with an aggregate contract value of $203.0 million and terms ranging from two to three years," Reddit said, regarding its data-licensing business. "We expect a minimum of $66.4 million of revenue to be recognized during the year ending December 31, 2024 and the remaining thereafter." On Wednesday, Reddit said it plans to sell a chunk of its IPO shares to 75,000 of its most loyal users.

An anonymous reader quotes a report from CNN Business: AT&T's network went down for many of its customers across the United States Thursday morning, leaving customers unable to place calls, text or access the internet. By a little after 3 pm ET, roughly 11 hours after reports of the outage first emerged, the company said that it had restored service to all impacted customers. "We have restored wireless service to all our affected customers. We sincerely apologize to them," AT&T said in a statement. The company added that it is "taking steps to ensure our customers do not experience this again in the future."

The Federal Communications Commission confirmed Thursday afternoon that it is investigating the outage. The White House says federal agencies are in touch with AT&T about network outages but that it doesn't have all the answers yet on what exactly led to the interruptions. Although Verizon and T-Mobile customers reported some network outages, too, they appeared far less widespread. T-Mobile and Verizon said their networks were unaffected by AT&T's service outage and customers reporting outages may have been unable to reach customers who use AT&T.

Thursday morning, more than 74,000 AT&T customers reported outages on digital-service tracking site DownDetector, with service disruptions beginning around 4 am ET. That's not a comprehensive number: It tracks only self-reported outages. Reports had been rising steadily throughout the morning but leveled off in the 9 am ET hour. By 12:30 pm ET, the DownDetector data showed some 25,000 AT&T customers still reporting outages. By 2 pm ET, fewer than 5,000 customers were still reporting issues. Earlier Thursday, AT&T acknowledged that it had a widespread outage but did not provide a reason for the system failure. By late morning, AT&T said most of its network was back online, and it confirmed Thursday afternoon that service was fully restored. According to an anonymous industry source, the issue for the outage appears to be related to how cellular services hand off calls from one network to the next, a process known as peering. They said there's no indication that it was the result of a cyberattack or other malicious activity.

The FCC confirmed that it is investigating the incident. "We are aware of the reported wireless outages, and our Public Safety and Homeland Security Bureau is actively investigating," the FCC said in a statement posted on X. "We are in touch with AT&T and public safety authorities, including FirstNet, as well as other providers."

AmiMoJo writes: Most of the UK companies that took part in the world's biggest ever four-day working week trial have made the policy permanent, research shows. Of the 61 organisations that took part in a six-month UK pilot in 2022, 54 (89%) are still operating the policy a year later, and 31 (51%) have made the change permanent. More than half (55%) of project managers and CEOs said a four-day week -- in which staff worked 100% of their output in 80% of their time -- had a positive impact on their organisation, the report found.

For 82% this included positive effects on staff wellbeing, 50% found it reduced staff turnover, while 32% said it improved job recruitment. Nearly half (46%) said working and productivity improved. The report's author, Juliet Schor, professor of sociology at Boston College, said the results showed "real and long lasting" effects. "Physical and mental health, and work-life balance are significantly better than at six months. Burnout and life satisfaction improvements held steady," she said.

jbmartin6 shares a report from Phys.Org: Threatening messages aimed to prevent digital piracy have the opposite effect if you're a man, a new study from the University of Portsmouth has found. According to the research, women tend to respond positively to this kind of messaging, but men typically increase their piracy behaviors by 18%. [...] This paper studies how effective anti-piracy messages are as a deterrent, examining the change in TV and film piracy intentions among 962 adults compared with their past behavior. The three messages examined in the study were verbatim copies of three real-world anti-piracy campaigns. Two of the campaigns used threatening messages to try to combat piracy and the third was educational in tone.

One of the threatening messages was from crime reduction charity, Crimestoppers, which focused on the individual's risk of computer viruses, identity fraud, money and data theft and hacking. The other message was based on a campaign by the French government, which used a "three strike" process, whereby infringers were given two written warnings before their internet access was terminated. The educational message was taken from the campaign "Get It Right from a Genuine Site," which focuses on the cost to the economy and to the individual creative people, and signposts consumers away from piracy sites and towards legal platforms such as Spotify or Netflix.

The study found that one threatening message influences women to reduce their piracy intentions by over 50%, but men increase their piracy behaviors. The educational messages had no effect on either men or women. "The research shows that anti-piracy messages can inadvertently increase piracy, which is a phenomenon known as psychological reactance," explained [lead author, Kate Whitman, from the University of Portsmouth's Centre for Cybercrime and Economic Crime]. "From an evolutionary psychology point of view, men have a stronger reaction to their freedom being threatened and therefore they do the opposite." Moreover, the study found that participants with the most favorable attitudes towards piracy demonstrated the most polarized changes in piracy intentions -- the threatening messages increased their piracy even more. The study has been published in the Journal of Business Ethics.

"I'm not so sure about the author's attribution of this difference to evolutionary psychology, so looking forward to some educational comments on that," adds Slashdot reader jbmartin6.

Sarah Perez reports via TechCrunch: The CEO of meditation app Insight Timer, Christopher Plowman, is frustrated. He doesn't think the teachers who leverage his app's marketplace to reach their students should have to share 30% of their income with Apple -- its commission on in-app purchases -- and for the past 12 months, Apple had also agreed. After Apple loosened its rules around in-app donations in 2022, Insight Timer took advantage of the option to adjust a digital donations feature that allowed Insight Timers' teachers to collect "tips" from their user profiles and during live events. Apple reviewed the app and approved its release on the App Store. Now the tech giant has changed its mind -- it wants to collect a commission from this content, and Insight Timer had no choice but to comply or have its iOS business shut down, Plowman says. [...]

In section 3.2.1 of Apple's App Review guidelines, the company explains that apps can route around Apple's in-app purchase if the app enables individual users to "give a monetary gift to another individual" and "100% of the funds" go to the receiver of the gift. Insight Timer capitalized on this option to allow its users to tip meditation teachers, healers, musicians, and others who use its app to teach classes on meditation, managing stress, finding happiness or spiritual enlightenment, and more. Insight Timer implemented the feature using Stripe as the payment provider on the back end, as the rule permits. Users can opt to donate funds to the teacher, but they don't have to. Insight Timer's main business is selling premium subscriptions to its app, which offer additional features, like offline listening, journaling, and unlimited access to its courses. Fifty percent of this revenue is shared with the teachers, so they don't have to rely on donations to fund their work. During the time the commission-free donations feature was live, Insight Timer's users donated roughly $100,000 per month to the app's teachers, Plowman says.

Apple appeared to have blessed this use case, as the tech giant went on to approve 47 more updates to Insight Timer's app over the course of a 12-month period. When a question arose, Insight Timer explained that these were donations -- it doesn't take a cut of that revenue -- and Apple would approve the app. Late last year, those approvals stopped. An app reviewer told Insight Timer that these donations were no longer considered monetary gifts -- they were now "digital content." That meant they were also now subject to Apple's commissions. This decision doesn't hurt Insight Timer's bottom line, as the app's main business is subscriptions. Instead, it hurts the community of teachers who generate additional funds via users' donations. Now, with Apple demanding 30% of that revenue, the teachers are getting a 30% pay cut overnight, so to speak.

Plowman says he went back and forth with Apple over this feature, trying to understand why the donations option that Apple had previously allowed -- 47 times! -- was now subject to commission. Apple compromised and said it would allow the donations' link on teachers' profiles to be subject to its commission-free rules, but all other donations -- from live events, from meditations themselves -- had to be commissioned. It wouldn't allow those links to point to the donation link on the teachers' profiles, either. "And I was like, well, what's the point of building an ice cream stand across the road if you won't let the customers cross the road to buy the ice cream?" Plowman argued. In the end, the two parties didn't reach any sort of resolution. Plowman was given until February to comply with Apple's decision, or his business would be shut out of the App Store.

In its fourth quarter earnings report today, Nvidia beat Wall Street's forecast for earnings and sales, causing shares to rise about 10% in extended trading. CNBC reports: Here's what the company reported compared with what Wall Street was expecting for the quarter ending in January, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: $5.16 adjusted vs. $4.64 expected
Revenue: $22.10 billion vs. $20.62 billion expected

Nvidia said it expected $24.0 billion in sales in the current quarter. Analysts polled by LSEG were looking for $5.00 per share on $22.17 billion in sales. Nvidia CEO Jensen Huang addressed investor fears that the company may not be able to keep up this growth or level of sales for the whole year on a call with analysts. "Fundamentally, the conditions are excellent for continued growth" in 2025 and beyond, Huang told analysts. He says demand for the company's GPUs will remain high due to generative AI and an industry-wide shift away from central processors to the accelerators that Nvidia makes.

Nvidia reported $12.29 billion in net income during the quarter, or $4.93 per share, up 769% versus last year's $1.41 billion or 57 cents per share. Nvidia's total revenue rose 265% from a year ago, based on strong sales for AI chips for servers, particularly the company's "Hopper" chips such as the H100, it said. "Strong demand was driven by enterprise software and consumer internet applications, and multiple industry verticals including automotive, financial services and health care," the company said in commentary provided to investors. Those sales are reported in the company's Data Center business, which now comprises the majority of Nvidia's revenue. Data center sales were up 409% to $18.40 billion. Over half the company's data center sales went to large cloud providers. [...]

The company's gaming business, which includes graphics cards for laptops and PCs, was merely up 56% year over year to $2.87 billion. Graphics cards for gaming used to be Nvidia's primary business before its AI chips started taking off, and some of Nvidia's graphics cards can be used for AI. Nvidia's smaller businesses did not show the same meteoric growth. Its automotive business declined 4% to $281 million in sales, and its OEM and other business, which includes crypto chips, rose 7% to $90 million. Nvidia's business making graphics hardware for professional applications rose 105% to $463 million.

An anonymous reader quotes a report from PBS: Chinese police are investigating an unauthorized and highly unusual online dump of documents from a private security contractor linked to the nation's top policing agency and other parts of its government -- a trove that catalogs apparent hacking activity and tools to spy on both Chinese and foreigners. Among the apparent targets of tools provided by the impacted company, I-Soon: ethnicities and dissidents in parts of China that have seen significant anti-government protests, such as Hong Kong or the heavily Muslim region of Xinjiang in China's far west. The dump of scores of documents late last week and subsequent investigation were confirmed by two employees of I-Soon, known as Anxun in Mandarin, which has ties to the powerful Ministry of Public Security. The dump, which analysts consider highly significant even if it does not reveal any especially novel or potent tools, includes hundreds of pages of contracts, marketing presentations, product manuals, and client and employee lists. They reveal, in detail, methods used by Chinese authorities used to surveil dissidents overseas, hack other nations and promote pro-Beijing narratives on social media.

The documents show apparent I-Soon hacking of networks across Central and Southeast Asia, as well as Hong Kong and the self-ruled island of Taiwan, which Beijing claims as its territory. The hacking tools are used by Chinese state agents to unmask users of social media platforms outside China such as X, formerly known as Twitter, break into email and hide the online activity of overseas agents. Also described are devices disguised as power strips and batteries that can be used to compromise Wi-Fi networks. I-Soon and Chinese police are investigating how the files were leaked, the two I-Soon employees told the AP. One of the employees said I-Soon held a meeting Wednesday about the leak and were told it wouldn't affect business too much and to "continue working as normal." The AP is not naming the employees -- who did provide their surnames, per common Chinese practice -- out of concern about possible retribution. The source of the leak is not known. Jon Condra, an analyst with Recorded Future, a cybersecurity company, called it the most significant leak ever linked to a company "suspected of providing cyber espionage and targeted intrusion services for the Chinese security services." According to Condra, citing the leaked material, I-Soon's targets include governments, telecommunications firms abroad and online gambling companies within China.

The California Public Utilities Commission's Consumer Protection and Enforcement Division (CPED) has suspended Waymo's application to expand its robotaxi service in Los Angeles and San Mateo counties, putting "an abrupt halt to the company's aspirations to expand where it can operate -- at least until June 2024," reports TechCrunch. It does not, however, change the autonomous car company's ability to commercially operate its fleet in San Francisco. From the report: The CPED said on its website that the application has been suspended for further staff review. The "suspension" of an advice letter is a procedural part of the CPUC's standard and robust review process, according to Waymo. San Mateo County Board of Supervisors vice president David J. Canepa took a different stance, however.

"Since Waymo has stalled any meaningful discussions on its expansion plans into Silicon Valley, the CPUC has put the brakes on its application to test robotaxi service virtually unfettered both in San Mateo and Los Angeles counties," Canepa said. "This will provide the opportunity to fully engage the autonomous vehicle maker on our very real public safety concerns that have caused all kinds of dangerous situations for firefighters and police in neighboring San Francisco."

Waymo noted that it has reached out to two dozen government and business organizations as part of its outreach effort, including officials in cities throughout San Mateo County such as Burlingame, Daly City and Foster City, the San Mateo County Sheriff's Office and local chambers of commerce. [...] The city of South San Francisco, Los Angeles County Department of Transportation, San Francisco County Transportation Authority, San Mateo County Office of the County Attorney and the San Francisco Taxi Workers Alliance have sent letters opposing the expansion.

According to the Wall Street Journal (paywalled), Reddit plans to sell a chunk of its IPO shares to 75,000 of its most loyal users. Reuters reports: It aims to reserve an as-yet-undetermined number of shares for 75,000 of its most prolific so-called redditors when it goes public next month, the report said, citing people familiar with the matter. The users will have the opportunity to buy Reddit shares at its initial public offering (IPO) price before the stock starts trading, a privilege normally reserved only for big investors, the report said. Reddit's IPO, which has been in the works for more than three years now, would be the first from a major social media company since Pinterest's debut in 2019.

Intel has landed Microsoft as a customer for its made-to-order chip business, marking a key win for an ambitious turnaround effort under Chief Executive Officer Pat Gelsinger. From a report: Microsoft plans to use Intel's 18A manufacturing technology to make a forthcoming chip that the software maker designed in-house, the two companies said at an event Wednesday. They didn't identify the product, but Microsoft recently announced plans for two homegrown chips: a computer processor and an artificial intelligence accelerator.

Intel has been seeking to prove it can compete in the foundry market, where companies produce custom chips for clients. It's a major shift for the semiconductor pioneer, which once had the world's most advanced chipmaking facilities and kept them to itself. These days, Intel is racing to catch up with companies like Taiwan Semiconductor Manufacturing Co., which leads the foundry industry. Microsoft, meanwhile, is looking to secure a steady supply of semiconductors to power its data-center operations -- especially as demand for AI grows. Designing its own chips also lets Microsoft fine-tune the products to its specific needs. "We need a reliable supply of the most advanced, high-performance and high-quality semiconductors," Microsoft CEO Satya Nadella said in a statement. âoeThat's why we are so excited to work with Intel."

Disney is outsourcing its DVD and Blu-ray disc business to Sony Pictures Entertainment. Variety reports: As part of the deal, Sony will market, sell and distribute all Disney's new releases and catalog titles on physical media to consumers through retailers and distributors in the U.S. and Canada. Disney will continue to manage its own digital media, like premium video-on-demand. It's unclear if this will result in layoffs at Disney. However, the studio is expected to conduct an internal assessment across all business functions that support physical entertainment amid the transition to Sony, according to sources familiar with the agreement.

According to Disney, the licensing model allows the studio to continue to offer films and TV shows through physical retailers and to respond to consumer demand more efficiently. The company said the shift is consistent with strategies it's implemented companywide, as well as transitions in other markets.

An anonymous reader quotes a report from Ars Technica: The Alabama Supreme Court on Friday ruled that frozen embryos are "children," entitled to full personhood rights, and anyone who destroys them could be liable in a wrongful death case. The first-of-its-kind ruling throws into question the future use of assisted reproductive technology (ART) involving in vitro fertilization for patients in Alabama -- and beyond. For this technology, people who want children but face challenges to conceiving can create embryos in clinical settings, which may or may not go on to be implanted in a uterus.

In the Alabama case, a hospital patient wandered through an unlocked door, removed frozen, preserved embryos from subzero storage and, suffering an ice burn, dropped the embryos, killing them. Affected IVF patients filed wrongful-death lawsuits against the IVF clinic under the state's Wrongful Death of a Minor Act. The case was initially dismissed in a lower court, which ruled the embryos did not meet the definition of a child. But the Alabama Supreme Court ruled that "it applies to all children, born and unborn, without limitation." In a concurring opinion, Chief Justice Tom Parker cited his religious beliefs and quoted the Bible to support the stance.

"Human life cannot be wrongfully destroyed without incurring the wrath of a holy God, who views the destruction of His image as an affront to Himself," Parker wrote. "Even before birth, all human beings bear the image of God, and their lives cannot be destroyed without effacing his glory." In 2020, the US Department of Health and Human Services estimated that there were over 600,000 embryos frozen in storage around the country, a significant percentage of which will likely never result in a live birth. The result of this ruling "could mean that any embryos that are destroyed or discarded in the process of IVF or afterward could be the subject of wrongful death lawsuits," notes Ars. [According to national ART data collected by the Centers for Disease Control and Prevention, the percentage of egg retrievals that fail to result in a live birth ranges from 46 percent to 91 percent, depending on the patient's age. Meanwhile, the percentage of fertilized egg or embryo transfers that fail to result in a live birth range from 51 percent to 76 percent, depending on age.]

"The ruling creates potentially paralyzing liability for ART clinics and patients who use them. Doctors may choose to only attempt creating embryos one at a time to avoid liability attached to creating extras, or they may decline to provide IVF altogether to avoid liability when embryos do not survive the process. This could exacerbate the already financially draining and emotionally exhausting process of IVF, potentially putting it entirely out of reach for those who want to use the technology and putting clinics out of business."

The first human patient implanted with a brain-chip from Neuralink appears to have fully recovered and is able to control a computer mouse using their thoughts, the startup's founder Elon Musk said late on Monday. From a report: "Progress is good, and the patient seems to have made a full recovery, with no ill effects that we are aware of. Patient is able to move a mouse around the screen by just thinking," Musk said in a Spaces event on social media platform X. Musk said Neuralink was now trying to get as many mouse button clicks as possible from the patient. The firm successfully implanted a chip on its first human patient last month, after receiving approval for human trial recruitment in September.

Google's "Nest Aware" camera subscription is going through another round of price increases. From a report: This time it's for international users. There's no big announcement or anything, just a smattering of email screenshots from various countries on the Nest subreddit. 9to5Google was nice enough to hunt down a pile of the announcements. Nest Aware is a monthly subscription fee for Google's Nest cameras. Nest cameras exclusively store all their video in the cloud, and without the subscription, you aren't allowed to record video 24/7.

There are two sets of subscriptions to keep track of: the current generation subscription for modern cameras and the "first generation Nest Aware" subscription for older cameras. To give you an idea of what we're dealing with, in the US, the current free tier only gets you three hours of "event" video -- meaning video triggered by motion detection. Even the basic $8-a-month subscription doesn't get you 24/7 recording -- that's still only 30 days of event video. The "Nest Aware Plus" subscription, at $15 a month in the US, gets you 10 days of 24/7 video recording. The "first-generation" Nest Aware subscription, which is tied to earlier cameras and isn't available for new customers anymore, is doubling in price in Canada. The basic tier of five days of 24/7 video is going from a yearly fee of CA$50 to CA$110 (the first-generation sub has 24/7 video on every tier). Ten days of video is jumping from CA$80 to CA$160, and 30 days is going from CA$110 to CA$220. These are the prices for a single camera; the first-generation subscription will have additional charges for additional cameras. The current Nest Aware subscription for modern cameras is getting jumps that look similar to the US, with Nest Aware Plus, the mid-tier, going from CA$16 to CA $20 per month, and presumably similar raises across the board.

Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business. From a report: Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. Vizio shares, which spiked after reports of the deal first emerged last week, closed at $9.53 on Friday. Walmart and its Sam's Club warehouse chain have long been major sellers of Vizio devices. But in buying the company, Walmart touted the potential to boost its ad business through Vizio's SmartCast Operating System, which allows users to stream free ad-supported content on their TVs.

Andrew Feinberg, writing for Slate: If you wanted to design a financial channel that would cause investors to underperform the stock market, you'd create CNBC, NBC's financial counterpart that runs on cable news and ostensibly tries to make viewers better investors. You'd make it sober and rational (well, there is Jim Cramer, but we'll get to him later), no need to feature anyone foaming at the mouth about stocks that could triple in six months or worried Cassandras warning that it's time to sell everything and burrow underground. And yet, you'd ensure that viewers stay engaged by keeping them on edge, worried and confused about what might happen next. Anxiety, you'd discover, is your friend, viewer hypervigilance your bread and butter.

In other words, CNBC makes viewers nervous in a very specific way. Nervous that they're about to lose money in a market downturn. Nervous that they might miss a hot trend or stock. Or uncertain that they're in the right sectors. Then an "expert" comes on and says, "Hey, you're in the wrong sectors -- it's time to leave tech for industrials, financials, and health care." In its sober, rational way, the network creates a sense of urgency. Although its tone is never like that of an infomercial, sometimes the message is similar. Act now. The problem is, hypervigilance is probably the worst quality most investors can have. "Sit on your ass," the late Charlie Munger advised investors, emphasizing that when it comes to investing, less is more. Feeling nervous leads to excessive trading. And "all the evidence shows that individual investors do worse the more they trade," says Jay Ritter, professor of finance at the University of Florida's Warrington College of Business. "Buying and selling something based on what you see on CNBC is not likely to be a successful strategy."

Meizu is quitting the smartphone business. The company, owned by car maker Geely, said AI is the future and will invest "All in AI". From a report: According to a post on Weibo, the FlymeOS team will be restructured into working on new AI terminal devices that will use globally available LLM (large language model) such as Open AI. Meizu already laid the cornerstones of its multi-terminal experience when it announced Flyme Auto -- an infotainment system for Geely-made vehicles, including Polestar and Lotus, which connects seamlessly with FlymeOS 10 devices, such as the Meizu 20 and Meizu 21 flagships.

According to Shen Ziyu, Chairman and CEO of Xingji Meizu Group, smartphone users take longer to upgrade -- an average of 51 months, which is more than 4 years. The added companies now offer comparable performance in smoothness, photography, and software features. That's why there will be no Meizu 21 Pro, Meizu 22 and Meizu 23 series.

Capital One is buying Discover Financial (non-payalled source) in a deal that would marry two of the largest credit-card companies in the U.S. WSJ: The all-stock deal could be announced Tuesday, according to people familiar with the matter. Discover has a market value of $28 billion, and the takeover would be expected to value it at a premium to that. Buying Discover will give Capital One, a credit-card lender with a market value of a little over $52 billion, a network that would vastly increase its power in the payments ecosystem.

Card networks are critical to enabling transactions and setting fees that merchants pay when consumers shop with credit cards. Though much smaller than Visa and Mastercard, Discover is one of the few competitors to those companies in the U.S. and it is one of a small number of card issuers that also has a payments network. Capital One, the ninth-largest bank in the country and a major credit-card issuer, uses Visa and Mastercard for most of its cards. The bank plans to switch at least some of its cards to the Discover network, while continuing to use Visa and Mastercard on others. Those larger networks have more merchant acceptance abroad than Discover does. Update: Capital One has proposed to pay $35.3 billion for Discover in an all-stock deal.

"After years of rapid expansion, California's booming EV market may be showing signs of fatigue," reports the Los Angeles Times, "as high vehicle prices, unreliable charging networks and other consumer headaches appear to dampen enthusiasm for zero-emission vehicles.

"For the first time in more than a decade, electric vehicle sales dropped significantly in the last half of 2023..." Sales of all-electric cars and light trucks in California had started off strong in 2023, rising 48% in the first half of the year compared with a year earlier. By that time, California EV sales numbered roughly 190,807 — or slightly more than a quarter of all EV sales in the nation, according to the California New Car Dealers Assn. But it's what happened in the second half of last year though that's generating jitters. Sales in the third quarter fell by 2,840 from the previous period — the first quarterly drop for EVs in California since the Tesla Model S was introduced in 2012. And the fourth quarter was even worse: Sales dropped 10.2%, from 100,151 to 89,933...

Propelled by the sales success of Tesla, and boosted by electric vehicles from other automakers entering the market, consumer acceptance of EVs had seemed like a given until recently. In fact, robust sales growth is a key assumption in the state's zero-emission vehicle plan... Under the no-gas mandate, zero-emission vehicles must account for 35% of all new vehicle sales by model year 2026.... Nationally, EV sales growth also has slowed as automakers such as Ford and General Motors cut back — at least temporarily — on EV and battery production plans. Hertz, the rental car giant, is also pulling back on plans to shift heavily toward EVs. Hertz several years ago announced plans to buy 100,000 Teslas but is now selling off its EV fleet.

Corey Cantor, EV analyst at Bloomberg BNEF, an energy research firm, said that although recent sales figures are worrisome, there's plenty of momentum behind the EV transition, as evidenced by government mandates around the globe and massive investments by motor vehicle manufacturers and their suppliers. Those investments total $616 billion globally over five years, according to consulting firm AlixPartners.
But EVs haven't reached "price parity" with gas-powered engines, the article points out, so just 7.6% of the vehicles sold last year in the U.S. were electric — while in California, the market share for EVS was 20.1%.

The article also quantifies concerns about reliability of California's public charging system, which "according to studies from academic researchers and market analysts, can be counted on to malfunction at least 20% of the time." After $1 billion in state money for charger companies, the state's Energy Commission will now also start collecting reliability statistics, according to the article. But the article also cites wait times at the chargers. "Even if they were reliable, there aren't enough chargers to go around. EV sales have outpaced public charger installation."

Some good news? The federal government is spending $5 billion nationally to put fast chargers on major highways at 50-mile intervals. California will receive $384 million. Seven major automakers have also teamed up to build a North American charging network of their own, called Ionna. The joint venture plans to install at least 30,000 chargers — which would be open to any EV brand — at stations that will provide restrooms, food service and retail stores on site or nearby.

"Apple will reportedly have to pay around €500 million (about $539 million USD) in the EU," reports the Verge, "for stifling competition against Apple Music on the iPhone. Financial Times reported this morning that the fine comes after regulators in Brussels, Belgium investigated a Spotify complaint that Apple prevented apps from telling users about cheaper alternatives to Apple's music service.... The EU whittled its objections down to oppose Apple's refusal to let developers even link out to their own subscription sign-ups within their apps — a policy that Apple changed in 2022 following regulatory pressure in Japan.

$500 million may sound like a lot, but a much bigger fine of close to $40 billion (or 10 percent of Apple's annual global turnover) was on the table when the EU updated its objections last year. Apple was charged over a billion dollars in 2020, but French authorities dropped that to about $366 million after the company appealed.
The Verge cites an Apple spokesperson who said a year ago that the EU case "has no merit."

Reuters that the EU's fine "is expected to be announced early next month, the Financial Times said."

More from Politico The fine would be the EU's first ever against Apple and is expected to be announced early next month, according to the FT report. It is the result of a European Commission antitrust probe into whether Apple's "anti-steering" requirements breach the bloc's abuse of dominance rules, harming music consumers "who may end up paying more" for apps... The Commission will rule that Apple's actions are illegal and against EU competition rules, according to the report.
"The EU executive will ban Apple's practice of barring music services from letting users know of cheaper alternatives outside the App Store, according to the newspaper."