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Social Media

Threads' Direct Messages Spark User Concerns Over Harassment and Lack of Opt-Out

Instagram Threads recently launched direct messages (DMs), a highly requested feature. However, many users, particularly women, are expressing concerns about potential harassment and the absence of an opt-out option.
Users argue that the new DM feature could lead to increased online harassment, with some feeling that it caters to stalkers. While DMs are common on other social networks, some Threads users appreciated the platform's initial DM-free environment.
Concerns also include potential spam and unwanted outreach. The current system requires users to follow each other to enable DMs, with blocking as the only drastic measure. Some users feel helpless due to the lack of control over who can contact them.
The addition of DMs may disrupt the established culture of Threads, as it changes how users interact. Meta's attempt to control DM access through follower relationships hasn't addressed the desire to maintain distance from strangers whose content users may still want to follow.

Energy Policy

GOP Bill Reshapes Energy Incentives: Renewables Suffer, Nuclear and Geothermal Gain

Republican legislators passed a reconciliation act that unwinds much of the Inflation Reduction Act (IRA), impacting the energy sector. The bill, awaiting President Trump's signature, favors nuclear and geothermal while disadvantaging solar, wind, and clean hydrogen.
Solar and wind developers face stricter timelines to access tax credits, requiring grid connection by the end of 2027 or project commencement within 12 months of the bill's passage. The data center sector and climate tech startups, particularly green hydrogen ventures, are expected to be significantly affected.
Geothermal, nuclear, and battery storage retain tax incentives through 2033, but new rules regarding "foreign entities of concern" may complicate credit access.

Artificial Intelligence

Gemini Users Worldwide Gain Access to Google's Veo 3 Video Generation Model

Google has launched its Veo 3 video generation model for Gemini users in over 159 countries. This new model allows users to generate videos up to eight seconds long using text prompts. The feature is currently limited to paying subscribers of Google’s AI Pro plan, with a cap of three videos per day. Google is also developing image-to-video generation capabilities for Gemini.

Venture Capital

Phosphor Capital: A $34M Bet on Y Combinator's Future

Kulveer Taggar, a two-time YC alum and founder of Zeus Living, has launched Phosphor Capital, a $34 million venture firm dedicated to investing in Y Combinator startups.

Taggar's firm stands out as the only dedicated YC fund led by a solo general partner, with YC CEO Garry Tan as an investor.

Phosphor has already backed over 200 YC companies, with investments ranging from $100,000 to $500,000, and several portfolio companies have raised Series A funding.

Taggar's experience as a YC alum and founder provides him with empathy and valuable insights for the founders he backs.

Quantum Computing

Qedma Secures $26M to Advance Quantum Error Mitigation

Israeli startup Qedma raised $26 million in a Series A round, with participation from IBM, to further develop its quantum error-mitigation software, QESEM. QESEM analyzes noise patterns to suppress errors during algorithm execution and mitigate others post-processing, enabling larger quantum circuits to run accurately on existing hardware.

IBM, a partner of Qedma, values the company's focus on the software layer, which addresses the challenge of running circuits in the presence of noise. Qedma's technology aims to accelerate the timeline for achieving quantum advantage by providing a shortcut that doesn't require more qubits.

Qedma plans to expand its team to include researchers, software engineers, and marketing and sales roles. The startup is also collaborating with various companies and institutions, including Japan’s RIKEN, to combine quantum with supercomputers.

Technology

Pinwheel's Smartwatch: A Safe Tech Solution for Kids with AI Chatbot

Pinwheel has launched a new smartwatch designed for kids aged 7-14, offering a child-safe alternative to smartphones. The Pinwheel Watch includes parental management tools, GPS tracking, a camera, voice-to-text messaging, mini-games, and an AI chatbot called PinwheelGPT.

Priced at $160 with a $15 monthly subscription, the watch aims to provide a safer digital experience for children by preventing access to social media and the internet. PinwheelGPT is designed to answer kids' questions on various topics while avoiding sensitive or inappropriate content. Parents have full visibility into all chatbot interactions and can disable the feature if concerned.

The smartwatch also features calling and texting capabilities, a camera for video calls, and other useful apps. Parent monitoring is available through the Caregiver app, allowing parents to create a Safelist of contacts, set schedules, and monitor text messages. The Pinwheel Watch is currently available in the U.S., Australia, Canada, and the U.K., with plans for further expansion and availability on Amazon later this summer.

Cybersecurity

Hunters International Ransomware Group Ceases Operations, Offers Decryption Keys

The Hunters International ransomware gang has announced its shutdown, citing unspecified recent developments. The group is offering free decryption keys to its victims to recover their encrypted data. While the motivations are unclear, cybersecurity experts suggest it may be a rebrand or an attempt to evade law enforcement, similar to past ransomware groups that have shut down and sometimes resurfaced under new names.

Allan Liska from Recorded Future noted signs of a potential rebrand to a group called World Leaks as far back as April. The shutdown may also be a preemptive measure to avoid law enforcement attention, similar to the FBI's takedown of the Hive ransomware gang in 2023.

Finance & Fintech

Qonto's Strategic Shift: Pursuing a Banking License to Enhance Services and Customer Reach

Qonto, a European fintech startup targeting freelancers and SMBs, has applied for a banking license in France, according to CEO Alexandre Prot. Currently operating with a payment institution license since 2018, Qonto aims to expand its services by offering broader lending, savings, and investment options.
The company has reached 600,000 customers across Europe, but the absence of a credit license hinders its goal of reaching 2 million customers by 2030. While competitors like Memo Bank operate as full banks, Qonto's move is driven by profitability achieved in 2023 and a desire to depend less on third parties for services like card processing.
Qonto's existing Pay Later service has facilitated €50 million in financing, but a banking license would allow for longer-term loans and increased deposit guarantees. The company plans to work closely with banking supervisors and has strengthened its board of directors to support this transition, alongside developing AI-enabled features and enhancing its banking infrastructure.

Social Media

Flashes: A Visual Spin on Bluesky with Instagram Vibes

Flashes, an Instagram-like app built on the Bluesky social network, offers a visual browsing experience. It features a scrollable feed of photos and videos, user profiles, and photo filters.
Key features include integration with the Bluesky community of over 37 million users, the ability to browse Bluesky feeds, and a 'Portfolio' feature for photographers to showcase their work. Users can interact with posts by liking, reposting, and replying, with these interactions appearing on both Flashes and Bluesky.
Flashes allows users to sign in with their existing Bluesky credentials or create a new account. Future plans involve adding features like push notifications, multiple account support, and subscription options for premium features. The developer aims to evolve Flashes into its own AT Protocol-based platform while maintaining compatibility with Bluesky.

Quantum Computing

Qedma Secures $26M to Advance Quantum Error Mitigation

Israeli startup Qedma has raised $26 million in a Series A round, with participation from IBM, to further develop its quantum error mitigation software, QESEM. QESEM analyzes noise patterns to suppress errors during algorithm execution and mitigate others in post-processing, potentially enabling larger quantum circuits to run accurately on existing hardware. IBM is collaborating with Qedma, valuing the focus on the software layer to drive quantum computing advancements. Qedma's technology aims to accelerate the realization of quantum advantage by providing a shortcut that doesn't require more qubits, unlike error correction at the computer level.
Qedma's CEO, Asif Sinay, believes they may demonstrate quantum advantage this year. The company's CTO, Professor Netanel Lindner, presented their collaboration with Japan's RIKEN on combining quantum with supercomputers. Qedma plans to expand its team and is available through IBM's Qiskit Functions Catalog. The startup has also conducted a demo on IonQ's Aria computer.