LetMeSpy, a Phone Tracking App Spying on Numerous Users, Claims to Have Been Hacked

According to the makers of LetMeSpy, a widely used phone monitoring app, a hacker has stolen intercepted messages, call logs, and locations. The company released a notice on its login page stating that on June 21, an unauthorized access security incident occurred, resulting in the theft of email addresses, telephone numbers, and message content. LetMeSpy is a phone monitoring app used for parental control or employee monitoring that stays hidden on the phone’s home screen. These types of apps, known as stalkerware or spouseware, are typically installed without the user’s consent or knowledge. LetMeSpy uploads text messages, call logs, and location data to its servers, allowing the person who planted the app to track the user in real-time. However, these surveillance apps are known for security mistakes and have been susceptible to hacking and data leaks in the past. The breach was first reported by Polish security research blog Niebezpiecznik, and the hacker claimed to have deleted LetMeSpy’s databases and shared a copy online. Nonprofit transparency collective DDoSecrets obtained a copy of the hacked data and limited its distribution to journalists and researchers due to the amount of personally identifiable information present. The leaked data contained years of call logs and text messages, with at least 13,000 compromised devices. LetMeSpy’s website claims to track over 236,000 devices, but its counters read as zero at the time of the analysis. The app was also found to be non-functioning, and the leaked data included location data points and information about customers. The developer, Rafal Lidwin, did not respond to requests for comments. LetMeSpy said it had notified law enforcement and the Polish data protection authority but didn’t mention if it would notify victims. Android spyware apps, including LetMeSpy, are often disguised as system apps, but LetMeSpy is easier to find and uninstall. Users are advised to switch on Google Play Protect for added protection against malicious Android apps. LetMeSpy is one of many spyware and phone monitoring apps that have been hacked or breached in recent years. Victims of domestic abuse and violence can seek assistance from the National Domestic Violence Hotline, while the Coalition Against Stalkerware provides resources for compromised phones.

Casetext, an AI legal tech startup, acquired by Thomson Reuters for $650M in cash

Thomson Reuters is set to acquire legal tech startup Casetext in a cash deal worth $650 million. The acquisition is expected to be completed in the second half of 2023, pending regulatory approvals. Thomson Reuters CEO Steve Hasker stated that the purchase of Casetext aligns with their strategy to introduce generative AI solutions to customers and expand market potential. Casetext, founded in 2013, initially focused on creating a community for lawyers and providing free access to legal texts annotated by lawyers. However, the company shifted its focus to AI and ML, developing automated workflows and tools for legal teams. Their flagship product, CoCounsel, utilizes AI for document review, legal research, deposition preparation, and contract analysis. Casetext has a customer base of over 10,000 law firms and corporate legal departments. Thomson Reuters plans to integrate generative AI into its major business verticals, including legal, tax, accounting, and news. The acquisition is part of their long-term strategy, which includes allocating $100 million per year to AI investments and setting aside $10 billion for mergers and acquisitions, many of which are AI-focused.

FC Podcast: Oscar Cartagena VR, AR and Ai

Hoy hablaremos con Oscar Cartagena empresario vanguardista con 25 años de experiencia dirigiendo proyectos en industrias tecno-creativas, con amplia visión de proyecto y diversidad de aptitudes en las áreas de programación, diseño, arte, audiovisual y gerencia de proyectos. Por los últimos 8 años se ha dedicado al desarrollo y asesoría de experiencias de marketing experiencial con tecnologías inmersivas y en los últimos 5 años se ha enfocado en desarrollar la industria XR en Chile y Latinoamérica.

Ver otros episodios de Future Continuous

Unlocking the Value of Big Data: Insights and Opportunities for Growth

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Unlocking the Value of Big Data: Insights and Opportunities for Growth

In today’s increasingly data-driven world, businesses are collecting vast amounts of information from various sources, both internal and external. This accumulation of data, often referred to as big data, has the potential to unlock valuable insights and create new opportunities for growth. By harnessing the power of big data, companies can gain a competitive edge, improve decision-making processes, and drive innovation.

So, what exactly is big data? It refers to the massive volume, velocity, and variety of information that organizations gather from various sources such as social media, sensors, transactions, and more. This data is often unstructured and difficult to process using traditional methods. However, with advanced analytics tools, businesses can turn this raw data into meaningful insights.

One of the primary benefits of big data is the ability to analyze large datasets to identify patterns, correlations, and trends. This analysis can provide valuable insights into customer behavior, market trends, and operational efficiency. For example, a retail company can analyze customer purchase history to identify trends and preferences, enabling them to personalize marketing campaigns and offer targeted promotions. This not only enhances the customer experience but also improves revenue and boosts customer loyalty.

Moreover, big data can help businesses make data-driven decisions based on real-time insights. With the ability to collect and analyze data in real-time, organizations can respond quickly to changing market conditions and make more informed decisions. For instance, a transportation company can use real-time traffic data to optimize routes, reduce fuel consumption, and improve delivery efficiency. This not only saves costs but also enhances customer satisfaction by ensuring timely deliveries.

Another significant opportunity that big data presents is the ability to drive innovation and uncover new business opportunities. By analyzing data from various sources, businesses can identify gaps in the market, spot emerging trends, and develop new products or services to meet customer needs. For example, a healthcare company can analyze patient data to identify patterns and develop personalized treatment plans, leading to improved patient outcomes and driving innovation in the industry.

However, to fully unlock the value of big data, organizations must overcome several challenges. Firstly, they need to invest in the right infrastructure and technology to collect, store, and process large volumes of data efficiently. This often involves implementing data lakes or data warehouses and adopting advanced analytics tools. Additionally, organizations must ensure data privacy and security to protect sensitive information and comply with data regulations.

Furthermore, organizations must also develop the necessary skills and capabilities to analyze and interpret big data effectively. This may involve hiring data scientists, data engineers, or partnering with analytics firms to derive meaningful insights from the data. Additionally, businesses need to ensure that the insights generated from big data are communicated and used across the organization to drive value and inform decision-making.

In conclusion, big data holds immense potential for organizations to unlock valuable insights and create new growth opportunities. By harnessing the power of advanced analytics, businesses can gain a competitive edge, improve decision-making processes, and drive innovation. However, to fully leverage the value of big data, organizations need to invest in the right infrastructure, develop the necessary skills, and ensure data security. As businesses embrace big data, they can unlock its true potential and drive growth in today’s data-driven world.
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Learn valuable insights from Airbnb and Instacart on operational strategies at TC Disrupt 2023’s Builders Stage

Scaling internal operations is crucial for startup success. Naba Banerjee, director of trust product and operations at Airbnb, and Asha Sharma, COO at Instacart, will share their insights in a session called “How to Build Intelligent Startup Ops that Will Scale with Your Business” at TechCrunch Disrupt 2023. They will discuss topics such as identifying when to hire externally, maintaining cultural consistency during rapid hiring, and more. Don’t miss this opportunity to gain valuable operational tips and insights!

Learn more about Naba Banerjee and Asha Sharma below:

Naba Banerjee: Airbnb director of Trust Product and Operations

Naba Banerjee focuses on ensuring a safe and trustworthy experience for guests and hosts on Airbnb. With over two decades of experience in product development, she has played instrumental roles in combating fraud and building trust between hosts and guests.

Asha Sharma: Instacart chief operating officer

Asha Sharma oversees various aspects of Instacart’s operations and has a background in product management and marketing. She has contributed to the growth and success of companies such as Meta Platforms and Porch Group.

Join us at the Builders Stage

Don’t forget to check out the Builders Stage at TechCrunch Disrupt 2023, where you can learn more about operations, hiring, fundraising, and other topics. Join the global startup community in San Francisco from September 19–21 and save up to $600 by purchasing your pass now!

UTU secures $35 million funding to enhance tax-free shopping experience for globetrotters

Utu, a travel tech company, has announced that it has raised $35 million in a Series B funding round led by SC Ventures. The funding will be used in part to acquire CardsPal, a fintech company based in Singapore that provides users with nearby deals and promotions.

During the pandemic, utu focused on establishing partnerships with travel, hotel chain, and retail brands. The company recognizes that only a small percentage of venture funding has gone towards the travel industry in recent years, with the majority being directed towards short-term rental hospitality. Utu aims to bring innovation to the tax-free shopping sector, which allows tourists to reclaim VAT on their purchases.

Utu offers customers a Tax Free Card, which provides two main options. Customers can choose to receive frequent flyer miles or hotel points instead of VAT refunds, or they can opt for an immediate store voucher equal to 120% of the VAT or GST they paid while shopping overseas. According to Utu, partnering retailers, airlines, hotels, and other organizations can increase customer loyalty and grow their revenue from tourist shopping by up to 40%.

Utu’s partners include major airlines such as Air France-KLM, Emirates, Qatar Airways, and Singapore Airlines, as well as European hospitality brand Accor. The company works with fintech partners Nium for payments and utilizes its own proprietary technology. Utu plans to announce more partnerships later this year.

While customers typically reclaim VAT through operators like Planet or Global Blue, they do not receive the full amount back, which is where Utu comes in.

Utu co-founder Asad Jumabhoy has spent years in the duty-free and tax-free shopping industries. After selling his previous venture, Global Blue, Jumabhoy decided to create Utu to provide more value to tourists during their tax-free shopping experiences.

Jumabhoy explained that tax-free shopping still has two major problems: the difficulty of getting VAT refunds and tourists only receiving a portion of their VAT spending back. Utu focuses on addressing the latter issue and aims to provide tourists with more value when they shop, such as receiving over 90% of their refund value in airline frequent flyer miles.

The acquisition of CardsPal will give Utu access to a digital marketplace, a promotions engine, and a self-service merchant registration portal. It will also expedite Utu’s expansion into markets like France and Italy, as well as other countries that offer VAT and GST refunds.

The funding received by Utu will be used to expand their product distribution across all countries with VAT refund services, invest in technology and new products, and strengthen their management team to support their growth plans.

Cybersecurity: A Critical Issue of Our Time

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Cybersecurity: A Critical Issue of Our Time

In today’s digital era, cybersecurity has become one of the most critical issues of our time. With the rapid advancements in technology and the increasing reliance on digital systems, the protection of sensitive information has become paramount. From personal data to government secrets, the potential damage caused by cyber threats can be devastating. As such, individuals, organizations, and governments must be vigilant in their efforts to secure their online presence.

First and foremost, it is essential to understand the scope and complexity of cybersecurity. It encompasses a wide range of measures and practices aimed at protecting electronic information and preventing unauthorized access or malicious attacks. Cyber threats can come in various forms, including hacking, phishing, malware, ransomware, and identity theft. These attacks can target individuals, businesses, or even entire nations.

The consequences of a cyber attack can be severe and far-reaching. For individuals, it can result in personal and financial loss, with hackers gaining access to sensitive information such as bank accounts, passwords, and social security numbers. For businesses, a single breach can lead to compromised customer data, reputational damage, and financial losses. Furthermore, cyber attacks can disrupt critical infrastructure systems, impacting everything from healthcare to transportation, and even national security.

The awareness of cybersecurity risks and the need for preparedness has grown exponentially in recent years. Governments around the world have recognized the significance of this issue and have taken steps to protect their citizens and their infrastructure. Laws and regulations have been put in place to deter cybercriminals and hold them accountable for their actions. Moreover, organizations and businesses have invested substantial resources into developing robust cybersecurity strategies, employing dedicated teams of experts to safeguard their systems.

However, as technology advances, so do the capabilities of cybercriminals. The dynamic nature of cyber threats necessitates a constant adaptation of defense mechanisms. This presents an ongoing challenge for individuals and organizations alike. It requires a proactive approach, where regular software updates, strong and unique passwords, and the use of encryption techniques become the norm. Moreover, fostering a culture of cybersecurity awareness is crucial, where individuals are educated about best practices and are cautious when sharing personal information online.

Another critical aspect is international collaboration and cooperation. Cyber threats are not bound by borders, and a single vulnerable entity can potentially open doors for attacks on a global scale. Various international organizations and alliances have formed to share information, expertise, and resources to combat cybercrime collectively. This cooperative effort ensures that vulnerabilities and potential threats are identified and mitigated before they can cause significant harm.

It is also imperative to recognize that cybersecurity should not be seen solely as a defensive mechanism. While preventing attacks is crucial, it is equally important to focus on the offensive aspect of cybersecurity. This includes developing offensive capabilities to identify, track, and neutralize threats before they materialize. Investing in research and development of advanced technologies can enable proactive and preventative measures, staying one step ahead of cybercriminals.

In conclusion, cybersecurity has become a defining issue of our time, shaping the way we interact with digital technology and impacting various aspects of our lives. The ever-evolving cyber threats demand constant vigilance, advanced defense mechanisms, and a collective global effort. By prioritizing cybersecurity at all levels, from individuals to governments, we can mitigate the risks and ensure a safer digital future for all.
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Figma Initially Disliked by Designers, Eventually Embraced with Love

Building a complex app in the browser was a bold move at the time

In 2012, Dylan Field, a student at Brown University, conceived the idea of creating a browser-based design tool. Design tools were primarily desktop-based at the time, resulting in a cumbersome and inefficient process of sharing files for review and incorporating feedback. Field and co-founder Evan Wallace launched Figma to revolutionize this design paradigm by enabling collaborative work within a single tool.

Figma worked similarly to Google Docs, enabling multiple users to simultaneously work on a file, leave comments, and interact with each other. However, implementing this functionality in web technology posed significant challenges due to the complexity of design compared to simple text documents.

Additionally, designers were accustomed to maintaining control over their tools and having stakeholders approach them for collaboration. Therefore, Figma faced user resistance despite overcoming technical obstacles and offering a sensible collaborative design solution.

It took until 2017 for Field and Wallace to develop a market-ready product and start generating revenue, but their patient investors recognized the potential of their revolutionary idea. In June 2021, Figma secured a $200 million investment, valuing the company at $10 billion. Subsequently, in September 2022, Adobe expressed its intent to acquire Figma for double that amount. However, the deal faced regulatory scrutiny in the U.S. and Europe, leaving its outcome uncertain. Nonetheless, the journey of Figma’s growth into a $20 billion company, overcoming numerous technical challenges while supported by determined investors, is a remarkable story.

OceanGate terminates employee who reported misconduct, Reddit faces hacker threat to release user data, and Marvel explores AI art integration

Welcome to Week in Review (WiR), TechCrunch’s newsletter that recaps the week in tech. This week was shorter for many due to the Juneteenth observance on Monday, but there were still significant developments. Here are the highlights:

– We have coverage on the OceanGate tragedy and the ongoing Reddit API controversy.
– Check out our full review of the new Google Pixel Tablet, which includes the bundled dock as a major highlight.
– Microsoft announced its roadmap for building a quantum supercomputer within the next 10 years.
– WhatsApp introduced a feature to automatically silence calls from unknown numbers.
– Marvel’s AI-generated intro sequence for the “Secret Invasion” series on Disney+ created controversy among artists.
– Deloitte quit as the auditor of Byju’s, and three board members resigned from the Indian startup.

If you haven’t already, sign up here to receive WiR in your inbox every Saturday. Read on for more details on the top stories from this week.

In the audio realm, TechCrunch offers a variety of podcasts, including a recent episode of Found featuring Web Sun, the co-founder and president of Komodo Health.

For TechCrunch+ subscribers, here are some highlights from this week’s in-depth commentary, analysis, and surveys. Accel partner Harry Nelis discusses Europe and Israel’s emergence as producers of tech founders. Coinbase CEO Brian Armstrong shares his vision of turning Coinbase into a “super app”. Researchers at Swiss university EPFL uncover potential cheating among distributed crowd workers on Amazon Mechanical Turk.

Lastly, join us at Disrupt 2023 in San Francisco this September for an immersive startup experience. Save up to $600 when you buy your pass before August 11, and use promo code WIR for an additional 15% off.

![TechCrunch Image](https://techcrunch.com/wp-content/uploads/2023/03/Untitled-design-2.gif)

Taking Your Business to New Heights with Cloud Computing

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Taking Your Business to New Heights with Cloud Computing

In today’s digital age, businesses are constantly looking for ways to streamline their operations, increase productivity, and minimize costs. One technology that has revolutionized the way businesses operate is cloud computing. This technology has transformed the way businesses manage their resources and communicate with their teams. By taking advantage of cloud computing, businesses can take their operations to new heights.

First and foremost, cloud computing offers unparalleled flexibility and scalability. With traditional on-premises infrastructure, businesses often face limitations when it comes to storage space, processing power, and software applications. On the other hand, with cloud computing, businesses can easily scale up or down their computing resources as needed. Whether it’s increasing storage capacity to accommodate growing data or adding more virtual servers to handle increasing demand, cloud computing offers the flexibility to adapt to changing business needs effortlessly. This scalability allows businesses to efficiently handle peak periods without the need for excessive investment in hardware or software.

Another key benefit of cloud computing is the ease of collaboration and remote access it provides. With cloud applications and services, employees can access company data and resources from anywhere and at any time. This means that even if the team members are scattered across different locations or working remotely, they can still collaborate seamlessly. Team members can collaborate on projects, share documents, and communicate in real-time, improving communication and productivity. Additionally, with cloud-based storage solutions, businesses can ensure that their critical data is backed up securely and accessible in case of any unforeseen events such as natural disasters or data breaches.

One of the most significant advantages of cloud computing is cost savings. Traditional IT infrastructure can be a significant financial burden for businesses, requiring large upfront investments in hardware, software licenses, and ongoing maintenance costs. Cloud computing eliminates the need for these upfront costs, as businesses can pay for the services they use on a subscription basis. This pay-as-you-go model allows businesses to avoid expensive capital expenditures and only pay for the resources they need. Moreover, with cloud computing, businesses can also save on energy costs as they no longer need to maintain and power extensive on-premises infrastructure.

In addition to these benefits, cloud computing also offers enhanced security and reliability. Cloud service providers are dedicated to ensuring the highest levels of security for their customers’ data. They employ various security measures such as encryption, firewalls, and regular system updates to protect against potential threats. Moreover, by storing data in the cloud, businesses can avoid the risk of data loss due to hardware failures or physical damage. Cloud service providers typically have robust backup and recovery mechanisms in place, ensuring that businesses can quickly recover from any disruptions or data loss.

As more and more businesses embrace cloud computing, the opportunities for innovation and growth are limitless. Cloud computing enables businesses to focus on their core competencies and strategic initiatives rather than worrying about IT infrastructure. By taking advantage of the flexibility, scalability, cost savings, and enhanced security offered by cloud computing, businesses can transform their operations and take their business to new heights.

In conclusion, cloud computing has become a game-changer for businesses of all sizes. By leveraging the power of the cloud, businesses can streamline their operations, increase collaboration, reduce costs, and enhance security and reliability. Cloud computing offers unprecedented flexibility and scalability, enabling businesses to adapt to changing demands effortlessly. It is evident that cloud computing is here to stay and taking advantage of this technology can truly take your business to new heights.
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Big tech giants invest billions in machine learning tools: This week’s AI highlights

Staying updated in the fast-paced AI industry is a challenging task. This article provides a concise summary of the latest news and developments in machine learning, including funding announcements and notable research. While there is a significant amount of money being invested in AI, some experts argue that the current power hierarchy and lack of transparency pose challenges. They caution that without structural change, AI can lead to a loss of agency and increased surveillance. The article also highlights key AI headlines, such as DeepMind’s AI that controls robots, and European regulators calling for AI regulation. Additionally, it mentions new AI-powered tools and platforms, along with a summary of interesting talks and papers presented at the CVPR conference. Notable papers include an AI model that performs complex visual manipulation tasks and a unified model for autonomous driving.

CEO Jassy Reveals Amazon’s Intentions to Inject $15 Billion into India following Meeting with Modi

Amazon has announced plans to increase its investment in India, with a target to invest $15 billion by 2030. The majority of this capital will likely be allocated for expanding its AWS business in the country. This announcement follows a meeting between Amazon CEO Andy Jassy and Indian Prime Minister Narendra Modi, in which they discussed Amazon’s commitment to supporting startups, creating jobs, enabling exports, and empowering individuals and small businesses to compete globally.

India is an important market for Amazon, despite the closure of some of its businesses in the country in recent quarters. Walmart, another global rival of Amazon, has also invested over $2.5 billion in India this year.

In addition, Google CEO Sundar Pichai announced the opening of a global fintech operation center in GIFT city, Gujarat.

Modi’s visit to the US has also led to other significant commitments, including Micron’s plan to invest up to $825 million in its first DRAM and NAND assembly and test facility in India, and Applied Materials’ pledge to invest $400 million over four years in a new engineering center in the country.

How IoT is Revolutionizing Industries and Changing Lives

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The Internet of Things (IoT) is not just a buzzword anymore; it is transforming industries and changing lives in profound ways. From healthcare to transportation to agriculture, IoT technology is revolutionizing the way we live and work. What exactly is IoT, and how is it making such a significant impact?

IoT refers to the network of physical devices embedded with sensors, software, and connectivity, enabling them to collect and exchange data. These devices range from smartphones and wearables to household appliances and industrial machinery. The data collected by these devices can be analyzed and used to automate processes, optimize operations, and make more informed decisions.

In healthcare, IoT has the potential to save lives and improve patient care. With connected medical devices, doctors and healthcare providers can remotely monitor patients’ vital signs, track medication compliance, and receive real-time alerts in case of emergencies. This technology allows for earlier detection of health issues and reduces the need for frequent hospital visits, especially for the elderly and individuals with chronic conditions.

Transportation is another sector witnessing a significant transformation due to IoT. Smart transportation systems are enhancing safety, reducing congestion, and improving efficiency. Connected vehicles can communicate with each other and with traffic infrastructure to avoid accidents and optimize traffic flow. Moreover, IoT-enabled fleet management allows businesses to track vehicles’ locations, monitor fuel consumption, and schedule maintenance, leading to cost savings and improved logistics.

The agriculture industry is also reaping the benefits of IoT. Smart farming techniques, which utilize connected sensors and drones, enable farmers to monitor soil moisture levels, temperature, and nutrient content. By collecting and analyzing this data, farmers can make informed decisions about irrigation, fertilizer application, and crop management. This results in higher yields, reduced waste, and more sustainable farming practices.

Additionally, the industrial sector is undergoing a revolution with the advent of IoT. Manufacturing facilities are being upgraded with IoT sensors and robotics to optimize production processes, reduce downtime, and improve worker safety. These connected machines can perform real-time diagnostics, predict potential failures, and automatically order replacement parts. Consequently, efficiency is enhanced, and costs are reduced.

Beyond industry-specific applications, IoT is also making an impact on people’s daily lives. Smart homes equipped with IoT devices can automate lighting, heating, and security systems. Voice-assisted devices like Amazon Echo and Google Home have become commonplace, allowing people to control their homes with just their voice. Furthermore, wearable devices and fitness trackers help individuals monitor their health and fitness levels, encouraging healthier lifestyles.

However, the rise of IoT does raise concerns about data security and privacy. With countless devices collecting and transmitting data, there is a need for robust security measures to safeguard sensitive information. Manufacturers are continuously working on improving device security, and individuals must remain vigilant about securing their IoT devices and networks.

In conclusion, IoT technology is revolutionizing industries and changing lives in countless ways. From improving healthcare outcomes to optimizing transportation systems and enhancing agricultural practices, the possibilities are endless. It is an exciting time to witness the transformative power of IoT and the positive impact it is having on our world.
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UK unveils £21M fund to expand AI’s penetration within the National Health Service

The AI revolution has become a mainstream topic, driven by user-friendly generative AI applications such as OpenAI’s ChatGPT. However, while these tools raise legal and ethical concerns, the emergence of powerful large language models (LLMs) also has the potential to revolutionize healthcare.

The U.K. Government announced today that it is investing £21 million ($26.75 million) in National Health Service (NHS) trusts to accelerate the deployment of promising AI tools in hospitals across the country.

It’s important to note that the NHS has faced controversy in the past regarding its AI initiatives. However, with recent advancements in AI and LLMs, the U.K. has positioned itself at the forefront of the AI industry, organizing global summits, offering million-pound prizes, and providing funding for AI development.

The U.K. has now launched the AI Diagnostic Fund to bring AI imaging and decision-support tools for diagnosing and treating heart conditions, cancer, and strokes. The goal is to deploy AI tools across all NHS stroke networks by the end of the year and use AI to analyze chest x-rays for early detection of lung cancer.

NHS Trusts will be able to apply for funding for any AI diagnostic tool they deem suitable, with a focus on value-for-money justification.

Rocket Lab intensifies efforts in marine booster recovery with upcoming Electron launch

Rocket Lab is set to launch its next Electron mission, “Baby Come Back,” from Launch Complex 1 in New Zealand. The mission will carry various customer payloads, including NASA’s Starling mission, which will test swarm satellite technologies. After launch, Rocket Lab will attempt a marine recovery of the Electron booster by using a parachute for a controlled splashdown in the ocean and then retrieving it with a customized vessel. This recovery method is preferred over the challenging technique of catching the booster midair with a helicopter, which Rocket Lab has unsuccessfully attempted in the past. The company has successfully recovered stages from the ocean in previous missions, demonstrating that Electron withstands ocean splashdown well. If Rocket Lab can refurbish the booster components at a low cost, marine recovery could be a successful and practical technique for the company.

Chile’s New National Lithium Strategy: Unveiling Eight Crucial Points

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“Our goal is for Chile to become the leading global producer of lithium, resulting in increased wealth and development for our country,” stated Gabriel Boric, the President of Chile.

LITIO

The President of Chile, Gabriel Boric Font, addressed the nation on live television from La Moneda Palace and unveiled the National Lithium Strategy. This document outlines the government’s proposed actions to harness the potential of lithium for the benefit of Chile. The country currently holds 45% of global reserves, making it the second-largest producer worldwide after Australia.

President Boric emphasized that despite current lithium extraction only taking place in the Salar de Atacama, Chile already accounts for over 30% of the global market. The country’s potential for lithium is enormous, with more than 60 other salt flats and saline lakes yet to be explored and evaluated. Boric highlighted the importance of protecting certain areas and lakes from operations in his speech.

Lithium plays a vital role in combating the climate crisis, as it is used in energy storage batteries, electric cars, and buses. President Boric sees it as an unparalleled opportunity for economic growth and a key step toward a more sustainable and developed economy. The potential must not be squandered, he stressed.

Here are the key points of Chile’s National Lithium Strategy:

  1. Engage in dialogue and collaboration with various stakeholders, including local communities, indigenous peoples, regional government, academia, productive companies, civil society, and central government.
  2. Establish the National Lithium Company, a state-owned entity responsible for the complete industrial cycle of lithium, including exploration, extraction, treatment, and value-addition projects.
  3. Create a Protected Salt Flats Network to safeguard salt flats with low environmental impact and utilize technologies that align with sustainability goals.
  4. Modernize the institutional framework to support the industry’s development while ensuring the preservation of salt flats and providing stability for existing and new organizations.
  5. Establish a Public Technological and Research Institute of Lithium and Salt Flats to generate knowledge and technologies for extraction, production, value addition, applications, and recycling. The institute will also enhance understanding of salt flats and minimize the environmental impact.
  6. Involve the State in the productive activity of the Salar de Atacama to regain control of Chile’s lithium. The State-Owned Copper Company (CODELCO) will represent the state and lead conversations with existing and future companies operating in the salt flat.
  7. Explore potential lithium extraction in other salt flats responsibly and sustainably, excluding those already designated as protected. Strategic projects in these areas will involve public-private partnerships, with the State retaining decision-making control.
  8. Create the Chilean Economic Development Agency (CORFO) Productive Transformation Committee on Lithium, led by the Energy Ministry. This committee will drive productive transformation, propose policies for scientific-technological and industrial development, and identify opportunities to add value to the industry at the local level.

The official document of the National Lithium Strategy can be downloaded here (in Spanish).

To learn more about mining investment opportunities in Chile, read the following article.

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The Dawn of a New Era: Augmented Reality in Real Life

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The Dawn of a New Era: Augmented Reality in Real Life

Imagine a world where your surroundings become a canvas for immersive experiences. A world where the boundaries between the digital and physical realms blur, and the possibilities seem endless. Welcome to the dawn of augmented reality (AR) in real life, where technology is revolutionizing the way we perceive and interact with the world around us.

Augmented reality, unlike virtual reality, does not create an entirely new digital environment for users to explore. Instead, it overlays digital content onto the physical world, enhancing our perception of reality and creating a unique blend of virtual and real experiences.

AR has been gaining traction in recent years, primarily thanks to advancements in mobile technology. With just a smartphone or tablet, users can access a myriad of AR apps that range from gaming and entertainment to education and productivity. Remember the Pokémon GO craze that took the world by storm in 2016? It was one of the first major instances where AR broke into the mainstream consciousness, capturing the imagination of millions of players who ventured out into the real world to catch digital creatures.

But AR is not just about gaming. It has the potential to transform several industries and significantly impact our daily lives. Imagine being able to try out different furniture in your living room before making a purchase, or virtually trying on clothes without needing to step into a fitting room. This kind of immersive shopping experience is starting to become a reality, with companies like IKEA and fashion brands leveraging AR to enrich the customer journey.

Education is another sector where AR is making significant strides. By superimposing interactive 3D models and information onto textbooks or classrooms, students can bring subjects to life in ways that traditional mediums cannot achieve. Whether it’s exploring the human anatomy or witnessing historical events unfold before their eyes, augmented reality is enabling students to engage with the curriculum in a whole new dimension.

Furthermore, AR has the potential to revolutionize the way we navigate and interact with our surroundings. Imagine wearing smart glasses that overlay navigation instructions onto the real world as you walk. Say goodbye to getting lost, as AR can guide you with real-time directions seamlessly integrated into your field of view. This technology could enhance safety and productivity, particularly in industries like transportation, manufacturing, and construction.

The dawn of AR in real life opens up a multitude of possibilities for innovation and creative expression. Artists can use AR to transform physical spaces into interactive galleries, where sculptures come to life, and paintings morph into living masterpieces. Architects can use AR to visualize their designs in real-world settings, allowing clients to experience their creations before brick and mortar construction begins.

However, as with any new technology, there are challenges to overcome. Privacy concerns, such as the collection of personal data and the potential for surveillance, need to be addressed. Additionally, the technology itself needs significant advancements in terms of hardware and infrastructure to truly unlock its potential.

Despite these challenges, the dawn of augmented reality in real life promises a future that is both exciting and transformative. As we continue to push the boundaries of what is possible, we are entering an era where the digital and physical worlds merge, creating a new paradigm of human interaction. Whether it’s enhancing entertainment, revolutionizing education, or transforming industries, the possibilities are limited only by our imagination. So, step into this new era and embrace the amazing potential of augmented reality in real life.
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Robinhood purchases credit card startup X1 for $95 million

Robinhood has announced its acquisition of X1, a no-fee credit card startup, for $95 million in cash. X1, which provides an income-based credit card with rewards, has raised a total of $62 million in venture-backed funding since its establishment in 2020. The acquisition is seen as a strategic move by Robinhood to expand its product offerings and deepen its relationship with existing customers, especially amidst declines in its core trading business and slower crypto trading. With this purchase, Robinhood enters the credit card business and gains interchange fee revenue. X1’s co-founders, Deepak Rao and Siddharth Batra, will oversee the credit card business for Robinhood. The deal is expected to close in the third quarter of this year.

Lightspeed leads $13M Series A funding round for Supercritical, a carbon removal marketplace targeting tech firms

Supercritical, a carbon removal marketplace primarily targeting tech companies aiming for “net zero” emissions, has secured $13 million in Series A funding led by Lightspeed Venture Partners. The round includes funding from RTP Global, Greencode Ventures, MMC Ventures, and others. The startup aims to aggregate business demand for advanced carbon removal technologies, providing companies with access to innovative solutions that go beyond traditional methods like forest planting. Supercritical’s marketplace allows companies to purchase “fully-vetted and qualified” carbon removal credits up to the industry standard set by the Science Based Targets initiative. The funding will be utilized to scale the offering to tech companies, with plans to expand to other industries as every company worldwide needs to achieve net zero emissions. Notable clients of Supercritical include Tide, XTX Markets, Veriff, Multiverse, and IMC. The market for carbon removal startups is growing, with companies like CUR8 also focusing on driving demand and finance for carbon removal projects. These developments highlight the UK’s leadership in carbon pricing and regulation.