An anonymous reader quotes a report from TechCrunch: In a world filled with "vibe coding," Zach Yadegari, teen founder of Cal AI, stands in ironic, old-fashioned contrast. Ironic because Yadegari and his co-founder, Henry Langmack, are both just 18 years old and still in high school. Yet their story, so far, is a classic. Launched in May, Cal AI has generated over 5 million downloads in eight months, Yadegari says. Better still, he tells TechCrunch that the customer retention rate is over 30% and that the app generated over $2 million in revenue last month. [...]

The concept is simple: Take a picture of the food you are about to consume, and let the app log calories and macros for you. It's not a unique idea. For instance, the big dog in calorie counting, MyFitnessPal, has its Meal Scan feature. Then there are apps like SnapCalorie, which was released in 2023 and created by the founder of Google Lens. Cal AI's advantage, perhaps, is that it was built wholly in the age of large image models. It uses models from Anthropic and OpenAI and RAG to improve accuracy and is trained on open source food calorie and image databases from sites like GitHub.

"We have found that different models are better with different foods," Yadegari tells TechCrunch. Along the way, the founders coded through technical problems like recognizing ingredients from food packages or in jumbled bowls. The result is an app that the creators say is 90% accurate, which appears to be good enough for many dieters. The report says Yadegari began mastering Python and C# in middle school and went on to build his first business in ninth grade -- a website called Totally Science that gave students access to unblocked games (cleverly named to evade school filters). He sold the company at age 16 to FreezeNova for $100,000.

Following the sale, Yadegari immersed himself in the startup scene, watching Y Combinator videos and networking on X, where he met co-founder Blake Anderson, known for creating ChatGPT-powered apps like RizzGPT. Together, they launched Cal AI and moved to a hacker house in San Francisco to develop their prototype.

For the second time, President Trump has extended the deadline for ByteDance to divest TikTok's U.S. operations by 75 days. The TikTok deal "requires more work to ensure all necessary approvals are signed," said Trump in a post on his Truth Social platform. The extension will "keep TikTok up and running for an additional 75 days."

"We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs (Necessary for Fair and Balanced Trade between China and the U.S.A.!)," Trump added. CNBC reports: ByteDance has been in discussion with the U.S. government, the company told CNBC, adding that any agreement will be subject to approval under Chinese law. "An agreement has not been executed," a spokesperson for ByteDance said in a statement. "There are key matters to be resolved." Before Trump's decision, ByteDance faced an April 5 deadline to carry out a "qualified divestiture" of TikTok's U.S. business as required by a national security law signed by former President Joe Biden in April 2024.

ByteDance's original deadline to sell TikTok was on Jan. 19, but Trump signed an executive order when he took office the next day that gave the company 75 more days to make a deal. Although the law would penalize internet service providers and app store owners like Apple and Google for hosting and providing services to TikTok in the U.S., Trump's executive order instructed the attorney general to not enforce it. "This proves that Tariffs are the most powerful Economic tool, and very important to our National Security!," Trump said in the Truth Social post. "We do not want TikTok to 'go dark.' We look forward to working with TikTok and China to close the Deal. Thank you for your attention to this matter!"

China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war. CNN: On Wednesday, Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, in a move poised to cause a major reset of relations and worsen trade tensions between the world's two largest economies.

"This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice," China's State Council Tariff Commission said in a statement announcing its retaliatory tariffs. Since returning to power in January, Trump had already levied two tranches of 10% additional duties on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US. Combined with pre-existing tariffs, that means Chinese goods arriving in the US would be effectively subject to tariffs of well over 54%.

U.S. stock markets suffered their worst day since the Covid pandemic after Donald Trump announced sweeping new tariffs, triggering a global selloff and wiping out $470 billion in value from tech giants Apple and Nvidia. From a report: The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. [...] Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown. Though the US stock market has been used to tumultuous mornings over the last few weeks, US stock futures -- an indication of the market's likely direction -- had plummeted after the announcement. Hours later, Japan's Nikkei index slumped to an eight-month low and was followed by falls in stock markets in London and across Europe.

Multiple major American business groups have spoken out against the tariffs, including the Business Roundtable, a consortium of leaders of major US companies including JP Morgan, Apple and IBM, which called on the White House to "swiftly reach agreements" and remove the tariffs. "Universal tariffs ranging from 10-50% run the risk of causing major harm to American manufacturers, workers, families and exporters," the Business Roundtable said in a statement. "Damage to the US economy will increase the longer the tariffs are in place and may be exacerbated by retaliatory measures."

An anonymous reader shares a report: Microsoft's business-oriented "Link" mini-desktop PC, which connects directly to the company's Windows 365 cloud service, is now available to buy for $349.99 in the US and in several other countries. Windows 365 Link, which was announced last November, is a device that is more easily manageable by IT departments than a typical computer while also reducing the needs of hands on support.

The climate crisis is on track to destroy capitalism, a top insurer has warned, with the vast cost of extreme weather impacts leaving the financial sector unable to operate. From a report: The world is fast approaching temperature levels where insurers will no longer be able to offer cover for many climate risks, said Günther Thallinger, on the board of Allianz SE, one of the world's biggest insurance companies. He said that without insurance, which is already being pulled in some places, many other financial services become unviable, from mortgages to investments.

Global carbon emissions are still rising and current policies will result in a rise in global temperature between 2.2C and 3.4C above pre-industrial levels. The damage at 3C will be so great that governments will be unable to provide financial bailouts and it will be impossible to adapt to many climate impacts, said Thallinger, who is also the chair of the German company's investment board and was previously CEO of Allianz Investment Management. The core business of the insurance industry is risk management and it has long taken the dangers of global heating very seriously. In recent reports, Aviva said extreme weather damages for the decade to 2023 hit $2tn, while GallagherRE said the figure was $400bn in 2024. Zurich said it was "essential" to hit net zero by 2050.

Climate startup Aspiration, which boasted a roster of celebrity backers and arranged carbon credits for Meta Platforms, Microsoft and other large companies, filed bankruptcy weeks after its co-founder was arrested on fraud charges. From a report: CTN Holdings, as the company is now known, has about $170 million in debt. The goal of the bankruptcy is to sell its assets as quickly as possible in order to repay creditors, chief restructuring officer Miles Staglik said in a court filing. The pool of potential bidders is small and the nature of the CTN's ventures will likely require more cash and "long term horizons before any potential value could be realized for creditors," Staglik said.

The bankruptcy was filed after co-founder Joseph Sanberg was charged by federal prosecutors with conspiring to defraud two investor funds of at least $145 million, according to a US Department of Justice announcement earlier this month. The charges involve his personal conduct and don't implicate CTN or its affiliates "in any criminal activity," said Staglik, a managing director at CR3 Partners that's been hired as CTN's restructuring adviser.

Longtime Slashdot reader theodp writes: A coalition of Washington state business leaders -- which includes Microsoft President Brad Smith and Amazon Chief Legal Officer David Zapolsky -- released a letter Wednesday urging state lawmakers to reconsider recently proposed tax and budget measures. "I actually think it's an almost unprecedented outpouring of support from across the business community," said Microsoft's Smith in an interview. In their letter, which reads in part like it could have been penned by a GenAI Marie Antoinette, the WA business leaders question whether any more spending is warranted given how poorly Washington's 4th and 8th graders compare to children in the rest of the nation on test scores. The letter also laments the increase in WA's homeless population as it celebrates WA Governor Bob Ferguson's announcement that he would not sign a proposed wealth tax.

From the letter: "We have long partnered with you in many areas, including education funding. Despite more than doubling K-12 spending and increasing teacher salaries to some of the highest rates in the nation, 4th and 8th grade assessment scores in reading and math are among the worst in the country. Similarly, we have collaborated with you to address housing and homelessness. Despite historic investments in affordable housing and homelessness prevention since 2013, Washington's homeless population has grown by 71 percent, making it the third largest in the nation after California and New York, according to HUD. These outcomes beg the question of whether more investment is needed or whether we need different policies instead."

Back in 2010, Smith teamed with then-Microsoft CEO Steve Ballmer and then-Amazon CEO Jeff Bezos to fund an effort to defeat an initiative for a WA state income that was pushed for by Bill Gates Sr. In 2023, Bezos moved out of WA state before being subjected to a 7% tax on gains of more than $250,000 from the sale of stocks and bonds, a move that reportedly saved him $1.2 billion in WA taxes on his 2024 Amazon stock sales.

According to Bloomberg, India is set for a surge in tech startup IPOs valued at around $100 billion by 2027, with major players like Flipkart, PhonePe, and Oyo preparing to go public. From a report: A report from Indian investment bank The Rainmaker Group suggests that the new wave of IPO hopefuls is in a stronger financial position than their predecessors. Many of the startups that were listed during the 2021-2022 boom struggled post-IPO, with fintech firm Paytm losing roughly 63% of its value and beauty retailer Nykaa slipping 4% since going public.

"The financial health of companies set to list in the next two years is significantly better than those that went public earlier," said Kashyap Chanchani, managing partner at Rainmaker. He noted that two-thirds of the firms eyeing IPOs are already profitable and have improved transparency, making them more attractive to investors.

An anonymous reader shares a report: Amazon has put in a last-minute bid to acquire all of TikTok, the popular video app, as it approaches an April deadline to be separated from its Chinese owner or face a ban in the United States, according to three people familiar with the bid.

Various parties who have been involved in the talks do not appear to be taking Amazon's bid seriously, the people said. The bid came via an offer letter addressed to Vice President JD Vance and Howard Lutnick, the commerce secretary, according to a person briefed on the matter. Amazon's bid highlights the 11th-hour maneuvering in Washington over TikTok's ownership. Policymakers in both parties have expressed deep national security concerns over the app's Chinese ownership, and passed a law last year to force a sale of TikTok that was set to take effect in January.

Circle, the issuer of the USDC stablecoin, has filed for an IPO aiming for a $5 billion valuation. It marks the company's second attempt at going public amid renewed momentum in the crypto sector and signs of recovery in tech IPO markets. CNBC reports: A prior merger with a special purpose acquisition company (SPAC) collapsed in late 2022 amid regulatory challenges. Since then, Circle has made strategic moves to position itself closer to the heart of global finance, including the announcement last year that it would relocate its headquarters from Boston to One World Trade Center in New York.

Circle reported $1.68 billion in revenue and reserve income in 2024, up from $1.45 billion in 2023 and $772 million in 2022. The company reported net income last year of about $156 million., down from $268 million a year earlier. A successful IPO would make Circle one of the most prominent pure-play crypto companies to list on a U.S. exchange. Coinbase went public through a direct listing in 2021 and has a market cap of about $44 billion.

MoffettNathanson has crowned YouTube the "New King of All Media" as the Alphabet-owned video platform has become a major force in Hollywood, dominating time spent watching TV. From a report: The firm estimates that YouTube as a standalone business could be worth as much as $550 billion -- or nearly 30% of the tech giant's current valuation. The figure is based on the firm's analysis of enterprise value as a multiple of revenue in 2024 for Netflix (10.5x revenue), Meta (8.8x), Roku (2.4x), Warner Bros. Discovery (1.4x), Fox (1.3x) and Disney (1.3x).

In 2024, YouTube was the second-largest media company by revenue at $54.2 billion, trailing behind only Disney. However, the MoffettNathanson analysts predict YouTube will take the top spot in 2025, becoming a leader in both engagement and revenue. "YouTube has the potential to become the central aggregator for all things professional video, positioning itself to capture a share of the $85 billion consumer Pay TV market and the ~$30 billion streaming ex. Netflix market in the U.S.," they wrote in a Monday research note. "On monetization, when comparing YouTube's massive TV screen engagement to its estimated TV revenue, it remains significantly under-monetized relative to its scaled reach and differentiated offering. This signals a substantial runway for improving its monetization strategy."

Intel Chief Executive Officer Lip-Bu Tan said the chipmaker will spin off assets that aren't central to its mission and create new products including custom semiconductors to try to better align itself with customers. From a report: Intel needs to replace the engineering talent it has lost, improve its balance sheet and better attune manufacturing processes to meet the needs of potential customers, Tan said. Speaking at his first public appearance as CEO, at the Intel Vision conference Monday in Las Vegas, Tan didn't specify what parts of Intel he believes are no longer central to its future.

"We have a lot of hard work ahead," Tan said, addressing the company's customers in the audience. "There are areas where we've fallen short of your expectations." The veteran semiconductor executive is trying to restore the fortunes of a company that dominated an industry for decades, but now finds itself chasing rivals in most of the areas that define success in the field. A key question confronting its leadership is whether a turnaround is best served by the company remaining whole or splitting up its key product and manufacturing operations. Tan gave no indication that he will seek to divest either part of Intel. Instead, he highlighted the problems he needs to fix to get both units performing more successfully. Intel's chips for data center and AI-related work in particular are not good enough, he said. "We fell behind on innovation," the CEO said. "We have been too slow to adapt and meet your needs."

Micron will raise prices for DRAM and NAND flash memory chips through 2026 as AI and data center demand strains supply chains, the U.S. chipmaker confirmed Monday. The move follows a market rebound from previous oversupply, with memory prices steadily climbing as producers cut output while AI and high-performance computing workloads grow.

Rivals Samsung Electronics and SK Hynix are expected to implement similar increases. Micron cited "un-forecasted demand across various business segments" in communications to channel partners. The price hikes will impact sectors ranging from consumer electronics to enterprise data centers.

Two scientific journals that experimented with paying peer reviewers found the practice sped up the review process without compromising quality, according to findings published this month.

Critical Care Medicine offered $250 to half of 715 invited reviewers, with 53% accepting compared to 48% of unpaid reviewers. Paid reviews were completed one day faster on average. In a more dramatic result, Biology Open saw reviews completed in 4.6 business days when paying reviewers $284 per review, versus 38 days for unpaid reviews. "For the editors it has been extremely helpful because, prior to this, in some areas it was very difficult to secure reviewers," said Alejandra Clark, managing editor of Biology Open.

"Microsoft built things. It broke things."

That's how the Seattle Times kicks off a series of articles celebrating Microsoft's 50th anniversary — adding that Microsoft also gave some people "a lucrative retirement early in their lives, and their own stories to tell."

What did they remember from Microsoft's earliest days? Scott Oki joined Microsoft as employee no. 121. The company was small; Gates was hands-on, and hard to please. "One of his favorite phrases was 'that's the stupidest thing I've ever heard,'" Oki says. "He didn't use that on me, so I feel pretty good about that."

Another, kinder phrase that pops to Oki's mind when discussing the international division he founded at Microsoft is "bringing home the bacon." An obsession with rapid revenue growth permeated Microsoft in those early days. Oki was about three weeks into the job as marketing manager when he presented a global expansion plan to Gates. "Had I done business internationally before? No," Oki said. "Do I speak a language other than English? No." But Gates gave Oki a $1 million budget to found the international division and sell Microsoft products overseas.

He established subsidiaries in the most important markets at the time: Japan, United Kingdom, Germany and France. And, because he had a few bucks left over, Australia. "Of the initial subsidiaries we started, every single one of them was profitable in its first year," he says...

Oki left Microsoft on March 1, 1992, 10 years to the day after he was hired.
Other memories shared by early Microsoft employees:

• One recent graudate remembered her parents in Spokane saying "I think that's Mary and Bill Gates' son's company. If that kid is anything like those two, that is going to be a great company,'" She got her first job at Microsoft in 1992 — and 33 years later, she's a senior director at Microsoft Philanthropies.

• The Times also interviewed one of Microsoft's first lawyers, who remembers that "The day the U.S. government sued Microsoft ... that was a tough day for me. It kind of turned my world upside down for about the next eight years."

• Microsoft senior VP Brad Chase remembers negotiating with the Rolling Stones for the rights to their song "Start Me Up" for the Windows 95 ad campaign. ("Chase is quick to dispel any rumor that Mick Jagger called up Bill Gates and got $12 million. But he won't say how much the company paid.")
  
  But Chase does tell the Times that Bill Gates "used to say all of the time, 'We're going to bet the company on Windows.' That was a huge bet because Windows, frankly, was a lousy product in its early days."

The U.S. and China "are racing to build a truly useful humanoid worker," the Wall Street Journal wrote Saturday, adding that "Whoever wins could gain a huge edge in countless industries."

"The time has come for robots," Nvidia's chief executive said at a conference in March, adding "This could very well be the largest industry of all." China's government has said it wants the country to be a world leader in humanoid robots by 2027. "Embodied" AI is listed as a priority of a new $138 billion state venture investment fund, encouraging private-sector investors and companies to pile into the business. It looks like the beginning of a familiar tale. Chinese companies make most of the world's EVs, ships and solar panels — in each case, propelled by government subsidies and friendly regulations. "They have more companies developing humanoids and more government support than anyone else. So, right now, they may have an edge," said Jeff Burnstein [president of the Association for Advancing Automation, a trade group in Ann Arbor, Michigan]....

Humanoid robots need three-dimensional data to understand physics, and much of it has to be created from scratch. That is where China has a distinct edge: The country is home to an immense number of factories where humanoid robots can absorb data about the world while performing tasks. "The reason why China is making rapid progress today is because we are combining it with actual applications and iterating and improving rapidly in real scenarios," said Cheng Yuhang, a sales director with Deep Robotics, one of China's robot startups. "This is something the U.S. can't match." UBTech, the startup that is training humanoid robots to sort and carry auto parts, has partnerships with top Chinese automakers including Geely... "A problem can be solved in a month in the lab, but it may only take days in a real environment," said a manager at UBTech...

With China's manufacturing prowess, a locally built robot could eventually cost less than half as much as one built elsewhere, said Ming Hsun Lee, a Bank of America analyst. He said he based his estimates on China's electric-vehicle industry, which has grown rapidly to account for roughly 70% of global EV production. "I think humanoid robots will be another EV industry for China," he said. The UBTech robot system, called Walker S, currently costs hundreds of thousands of dollars including software, according to people close to the company. UBTech plans to deliver 500 to 1,000 of its Walker S robots to clients this year, including the Apple supplier Foxconn. It hopes to increase deliveries to more than 10,000 in 2027.

Few companies outside China have started selling AI-powered humanoid robots. Industry insiders expect the competition to play out over decades, as the robots tackle more-complicated environments, such as private homes.
The article notes "several" U.S. humanoid robot producers, including the startup Figure. And robots from Amazon's Agility Robotics have been tested in Amazon warehouses since 2023. "The U.S. still has advantages in semiconductors, software and some precision components," the article points out.

But "Some lawmakers have urged the White House to ban Chinese humanoids from the U.S. and further restrict Chinese robot makers' access to American technology, citing national-security concerns..."

The giant financial news site Bloomberg "has been experimenting with using AI to help produce its journalism," reports the New York Times. But "It hasn't always gone smoothly."

While Bloomberg announced on January 15 that it would add three AI-generated bullet points at the top of articles as a summary, "The news outlet has had to correct at least three dozen A.I.-generated summaries of articles published this year." (This Wednesday they published a "hallucinated" date for the start of U.S. auto tariffs, and earlier in March claimed president Trump had imposed tariffs on Canada in 2024, while other errors have included incorrect figures and incorrect attribution.) Bloomberg is not alone in trying A.I. — many news outlets are figuring out how best to embrace the new technology and use it in their reporting and editing. The newspaper chain Gannett uses similar A.I.-generated summaries on its articles, and The Washington Post has a tool called "Ask the Post" that generates answers to questions from published Post articles. And problems have popped up elsewhere. Earlier this month, The Los Angeles Times removed its A.I. tool from an opinion article after the technology described the Ku Klux Klan as something other than a racist organization.

Bloomberg News said in a statement that it publishes thousands of articles each day, and "currently 99 percent of A.I. summaries meet our editorial standards...." The A.I. summaries are "meant to complement our journalism, not replace it," the statement added....

John Micklethwait, Bloomberg's editor in chief, laid out the thinking about the A.I. summaries in a January 10 essay, which was an excerpt from a lecture he had given at City St. George's, University of London. "Customers like it — they can quickly see what any story is about. Journalists are more suspicious," he wrote. "Reporters worry that people will just read the summary rather than their story." But, he acknowledged, "an A.I. summary is only as good as the story it is based on. And getting the stories is where the humans still matter."
A Bloomberg spokeswoman told the Times that the feedback they'd received to the summaries had generally been positive — "and we continue to refine the experience."

The New York Times notes that white-collar workers have faced higher unemployment than other groups in the U.S. over the past few years — along with slower wager growth.

Some economists wonder if this trend might be irreversible... and partly attributable to AI: After sitting below 4% for more than two years, the overall unemployment rate has topped that threshold since May... "We're seeing a meaningful transition in the way work is done in the white-collar world," said Carl Tannenbaum, the chief economist of Northern Trust. "I tell people a wave is coming...." Thousands of video game workers lost jobs last year and the year before... Unemployment in finance and related industries, while still low, increased by about a quarter from 2022 to 2024, as rising interest rates slowed demand for mortgages and companies sought to become leaner....

Overall, the latest data from the Federal Reserve Bank of New York show that the unemployment rate for college grads has risen 30% since bottoming out in September 2022 (to 2.6% from 2%), versus about 18% for all workers (to 4% from 3.4%). An analysis by Julia Pollak, chief economist of ZipRecruiter, shows that unemployment has been most elevated among those with bachelor's degrees or some college but no degree, while unemployment has been steady or falling at the very top and bottom of the education ladder — for those with advanced degrees or without a high school diploma. Hiring rates have slowed more for jobs requiring a college degree than for other jobs, according to ADP Research, which studies the labor market....

And artificial intelligence could reduce that need further by increasing the automation of white-collar jobs. A recent academic paper found that software developers who used an AI coding assistant improved a key measure of productivity by more than 25% and that the productivity gains appeared to be largest among the least experienced developers. The result suggested that adopting AI could reduce the wage premium enjoyed by more experienced coders, since it would erode their productivity advantages over novices... [A]t least in the near term, many tech executives and their investors appear to see AI as a way to trim their staffing. A software engineer at a large tech company who declined to be named for fear of harming his job prospects said that his team was about half the size it was last year and that he and his co-workers were expected to do roughly the same amount of work by relying on an AI assistant. Overall, the unemployment rate in tech and related industries jumped by more than half from 2022 to 2024, to 4.4% from 2.9%.
"Some economists say these trends may be short term in nature and little cause for concern on their own," the article points out (with one economist noting the unemployment rate is still low compared to historical averages).

Harvard labor economist Lawrence Katz even suggested the slower wage growth could reflect the discount that these workers accepted in return for being able to work from home.

Thanks to Slashdot reader databasecowgirl for sharing the article.

"After a long run, Google is sunsetting two of its signature Nest products," reports PC World: Google has just announced that it's discontinuing the 10-year-old Nest Protect and the 7-year-old Nest x Yale lock. Both of those products will continue to work, and — for now — they remain on sale at the Google Store, complete with discounts until supplies run out. But while Google itself is exiting the smoke alarm and smart lock business, it isn't leaving Google Home users in the lurch. Instead, it's teeing up third-party replacements for the Nest Protect and Nest X Yale lock, with both new products coming from familiar brands... Capable of being unlocked via app, entry code, or a traditional key, the Yale Smart Lock with Matter is set to arrive this summer, according to Yale.

While both the existing Nest Protect and Nest x Yale lock will continue to operate and receive security patches, those who purchased the second-generation Nest Protect near its 2015 launch date should probably replace the product anyway. That's because the CO sensors in carbon monoxide detectors like the Nest Protect have a roughly 10-year life expectancy.

Nest Protect and the Nest X Yale lock were two of the oldest products in Google's smart home lineup, and both were showing their age.