Coinbase’s no-good, very bad summer

It’s been a minute since I checked in on our friends at Coinbase, and so when I saw Reuters noting that a class action suit would be going ahead, I thought perhaps we should all reflect together on Coinbase’s cruel summer.

The company’s shares have fallen by more than a third in the last 6 months, to $147.95 as of this writing, from $238.55 on March 6th. On the company’s first day of trading, in April 2021, its closing price was $328.28.

Quite a turn of fortune! Certainly some price fluctuation can be chalked up to the vagaries of the cryptocurrency market — Coinbase was trading at $153.98 at the start of this year, before a Bitcoin ETF got approved. When Bitcoin began a run in February, Coinbase also started trading up. Still, there…

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Summary

The article discusses the recent struggles of Coinbase, noting that the company’s shares have plummeted over 30% in the past six months, currently trading at $147.95, down from $238.55 in March. This decline is significant compared to its initial trading price of $328.28 in April 2021. The drop in stock value is attributed to various factors, including fluctuations in the cryptocurrency market, despite a brief boost when a Bitcoin ETF was approved earlier in the year. Additionally, a class action lawsuit against Coinbase is moving forward, highlighting further challenges for the company during a tumultuous summer.

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Google faces provisional antitrust charges in UK for ‘self-preferencing’ its ad exchange

More antitrust woes for Google. The U.K’.s competition watchdog said on Friday that it suspects the company of adtech antitrust abuses. The tech giant will now have a chance to respond to the provisional findings before the regulator reaches a final decision. Confirmed violations of U.K. competition law can lead to corrective orders and fines […]

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Summary

The U.K. competition watchdog has announced provisional antitrust charges against Google, suspecting the company of engaging in antitrust abuses related to its ad exchange practices, specifically “self-preferencing.” Google will be allowed to respond to these findings before the regulator makes a final decision. If violations of U.K. competition law are confirmed, Google could face corrective orders and fines.

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ChromeOS just copied one of Windows 11’s best features

Google is rolling out a new ChromeOS update that makes it easier to keep your on-screen apps organized, copy text from images, and adjust camera and microphone settings on Chromebook devices.

One of the more notable features introduced in ChromeOS 128 is Snap Groups — a feature similar to Windows 11’s Snap layouts that allows you to easily group apps together in a variety of fullscreen layouts. The feature is even triggered the same way as Microsoft does it, by hovering over the maximize app button.

The ChromeOS camera app now supports Optical Character Recognition (OCR) to extract text from captured images of letters or other documents. It allows users to copy or search the text in images, more easily convert images into searchable…

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Summary

Google has announced a new update for ChromeOS, introducing features that enhance app organization and usability on Chromebook devices. A key addition is Snap Groups, akin to Windows 11’s Snap layouts, which allows users to group apps in various fullscreen arrangements by hovering over the maximize button. Additionally, the ChromeOS camera app now includes Optical Character Recognition (OCR), enabling users to extract and copy text from images. This update aims to improve multitasking and accessibility for Chromebook users.

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Startup accuses Nvidia and Microsoft of infringing on patents and forming a cartel

A startup funded by the cofounder of Yahoo and CTO of Intel is suing Nvidia and Microsoft for allegedly infringing on its patent for a key innovation in AI chips and being part of a buying cartel that allegedly sought to artificially fix lower prices for the technology.

In a new lawsuit, Texas-based Xockets says Nvidia has infringed on its patented data processing unit (DPU) technology, which helps make cloud infrastructure more efficient by accelerating data-intensive workloads. Xockets says the chip giant inherited the infringement through its 2020 acquisition of Mellanox. It claims Mellanox initially infringed on its patent after Xockets publicly demonstrated its DPU tech at a conference in 2015.

Xockets alleges that three of…

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Summary

A startup called Xockets, backed by a cofounder of Yahoo and the CTO of Intel, is suing Nvidia and Microsoft for patent infringement and forming a cartel to fix prices. The lawsuit claims that Nvidia violated Xockets’ patent related to data processing unit (DPU) technology, which enhances cloud infrastructure efficiency. The infringement allegedly stems from Nvidia’s acquisition of Mellanox, which Xockets asserts initially infringed on the patent after Xockets showcased the technology at a 2015 conference.

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All Hands AI raises $5M to build open source agents for developers

As with many open source startups, All Hands AI expects to monetize its service by offering paid, closed-source enterprise features.

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Summary

All Hands AI has raised $5 million to develop open source agents aimed at assisting developers. Following a common strategy among open source startups, the company plans to generate revenue by providing paid, closed-source enterprise features alongside its open source offerings.

Flic is ready to control all your Matter devices

Shortcut Labs has been openly working toward the goal of turning its smart home hubs — the Flic Hub LR and the Flic Hub Mini — into Matter controllers for quite a while, and now the company tells The Verge it has done it. On Friday, Shortcut will release an update that, according to the company, lets its devices easily act as independent hubs for Matter devices without being part of the ecosystems from companies like Apple, Amazon, Google, or Samsung.

It’s a compelling idea: a way to build out a smart home without turning to one of the big tech companies and the privacy concerns and attempts at lock-in that come with that. Part of the promise of the Matter standard is that it gives users freedom of choice, but we’ve still mostly had to…

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Summary

Shortcut Labs has announced that it will release an update for its Flic Hub LR and Flic Hub Mini, enabling them to function as independent controllers for Matter devices without relying on major tech ecosystems like Apple, Amazon, Google, or Samsung. This development allows users to build smart home systems while avoiding privacy concerns associated with larger companies. The update aligns with the Matter standard’s goal of providing users with greater freedom of choice in their smart home setups.

X wins block on part of California’s content moderation law

X has won an appeal to block parts of California’s content moderation law, which requires social platforms to publicly post policies against hate speech and misinformation, as well as submit semiannual reports on their enforcement efforts. A federal appeals court decided on Wednesday that the reporting aspect of the law likely violates the First Amendment, as reported earlier by Bloomberg Law.

In the lawsuit, filed against California last year, X alleged the state’s social media law violates free speech because it “compels companies like X Corp. to engage in speech against their will.” A California judge later denied X’s request for a preliminary injunction of the law, arguing that the enforcement reporting requirement doesn’t appear to…

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Summary

X has successfully appealed to block parts of California’s content moderation law, which mandates social media platforms to publicly disclose their policies on hate speech and misinformation, as well as submit semiannual reports on their enforcement. A federal appeals court ruled that the reporting requirement likely infringes on the First Amendment. In its lawsuit, X argued that the law forces companies to express views against their will. Although a California judge previously denied X’s request for an injunction against the law, the recent appeal has granted them a temporary victory.

Those ‘Founder mode’ memes keep coming

If you spend time on X or Threads, where snarky memes rise and fall, you’ve probably seen posts referencing “founder mode” over the last few days, like this: https://www.threads.net/@carnage4life/post/C_eaQAxyIcV Or maybe this: You may even have seen this parody about “goblin mode.” The chatter ties to a recent blog post that Y Combinator founder and […]

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Summary

Recently, social media platforms like X and Threads have seen a surge in “founder mode” memes, which are often humorous and snarky in nature. These memes reference a blog post by Y Combinator’s founder, sparking discussions and parodies, including comparisons to “goblin mode.” The trend highlights the evolving nature of meme culture online.