Posts Tagged ‘Softbank’

LinkSwarm For August 21, 2026

Friday, August 21st, 2026

Trump’s winning in Iran, Russia’s losing in Ukraine, Democrats committing fraud left and right, the data center debate rages on, a crappy movie in China gain sudden popularity because it’s crappy, and Orlando PD get to wrestle an alligator.

It’s the Friday LinkSwarm!

  • National Review comes to the shocking conclusion that Trump’s Iran strategy might actually be working. 

    The “rhetoric” coming from both sides of the conflict over the Strait of Hormuz has “caused considerable confusion and doubt,” CNN’s David Goldman understatedly observed. Yet, at present, “The evidence is clear,” he conceded: “Iran is losing much of its control over the critical waterway.”

    One month ago, the number of commercial ships transiting through the strait via the U.S. approved route along the Omani coast was close to zero. Today, however, over 80 percent of the vessels that have made it through the strait are taking the U.S.-authorized lane. And even though the United States has not responded with kinetic force to every Iranian attack on commercial traffic in the strait, sometimes to the consternation of America’s Gulf partners, that has not dissuaded countries like Kuwait, Saudi Arabia, and the United Arab Emirates’ tankers from making “dark traffic” runs on the strait.

    CNN could not independently verify Energy Secretary Chris Wright’s claim that “combined oil transits through the strait and rerouted around the waterway totaled around 15 million barrels per day,” which approaches the pre-war average of 20-million barrels. But it couldn’t gainsay the experts. As one industry analyst conceded, “It increasingly looks like Iran has at least partially lost control of the strait.”

    The Iranian regime is feeling the pain. As Hot Air’s Duane Patterson explained, the economic conditions on the ground inside the Islamic Republic are catastrophic. “Iran’s economy is currently experiencing around 90 percent inflation, and it turns out the worst may be yet to come,” he wrote. Foundation for Defense of Democracies senior fellow Miad Maleki concurs. “Nearly every part of Iran’s oil economy,” he wrote, “owes massive, growing sums to each other, with no real money moving through the system to pay any of it back.”

    The gas lines are growing, and the petrol that Iranians are allowed to buy may soon be rationed. Iranian authorities are triaging their resources by prescheduling hours-long blackouts. The regime is ramping up executions and cracking down on dissent as the prospect of economic collapse brings with it the risk of renewed civil unrest.

  • “Socialists Now Say That Shoplifting Is A-OK.”

    Brooklyn Assemblywoman Emily Gallagher (D-50th District) wants New Yorkers to believe that walking out of a CVS with a fistful of stolen toothpaste isn’t a crime. It’s a “biological need.”

    Yes, really.

    Gallagher, who represents Greenpoint and other parts of northern Brooklyn, made her case Thursday at a news conference outside Manhattan Criminal Court, flanked by fellow far-left officials and activists from Court Watch NYC. The group said it monitored 360 arraignments over four days and found that more than half involved misdemeanor offenses. Gallagher used those numbers to argue shoplifters swiping basic necessities shouldn’t be prosecuted at all.

    “Most of what we saw were crimes of poverty-people who are stealing things like toothpaste, people who were stealing things like, you know, soap,” Gallagher said. “And that means if you’re stealing those things, you need them.”

    Funny how all those films of riot never show people stealing soap and toothpaste, just flat screen TVs and Nikes. (Hat tip: Stephen Green at Instapundit.) 

  • “Minnesota Government’s ‘Outstanding Refugee’ Charged With Medicaid Fraud Connected To Sex-Trafficking Ring.”

    Salman Ahmed Elmi was charged last week with three counts of aiding and abetting by swindle and five counts of aiding and abetting by false representation.

    He made his first court appearance on Monday. Authorities say some of Elmi’s co-conspirators at Reva Health in Golden Valley have connections to a sex trafficking ring bust last week.

    Elmi is accused of billing Medicaid for more than $1 million in services that were not provided or not eligible. Reva Health provided autism services and adult rehabilitative mental health services.

    “The Minnesota Department of Human Services awarded Elmi an ‘Outstanding Refugee Award’ in 2021.” Why do I have the sneaking suspicion that “Outstanding Refugee” is an award for those that stole the most taxpayer money to give to Democrats?

  • “FBI Raids Eric Swalwell’s Home, Seizes Electronics in Connection with Sexual Assault Investigation.”

    FBI agents seized electronic devices from former Representative Eric Swalwell (D., Calif.) at the San Francisco airport on Saturday and then raided his home in connection with an investigation into sexual assault allegations against him, according to several reports.

    Federal authorities executed a search warrant at Swalwell’s home in Washington, D.C., on Sunday, law enforcement sources told CNN and the Associated Press.

    The FBI declined to comment.

    Swalwell resigned from Congress and suspended his campaign for California governor in April after a former staffer came forward with allegations that he had sexually assaulted her twice, including once at a hotel while he was in New York City for a charity gala in 2024.

    Three other women then accused Swalwell of sexual misconduct as well. The Manhattan District Attorney’s Office and the Los Angeles Sheriff’s Department opened criminal investigations into Swalwell in response.

    At the time, Manhattan District Attorney Alvin Bragg encouraged “survivors and anyone with knowledge of these allegations to contact our Special Victims Division.”

    The reports that the FBI’s investigation into Swalwell is picking up steam comes days after the White House Transparency Task Force released FBI files indicating Swalwell previously admitted to having “physical relations” with suspected Chinese spy Christine Fang on a “handful of occasions,” providing confirmation of the public sphere’s longstanding suspicion that a sexual relationship had transpired.

    I’m hoping the investigation also sheds light on Swalwell receiving money from communist China.

  • Ukraine continues its war on Wildberries. “Best Wildberries Strike Yet! Koledino Near Moscow–Biggest Wildberries Hub in Russia.”
  • “Ukrainian forces hit at least five workshop buildings at Russia’s Kombinat Kamensky defense plant in Rostov region, penetrating several layers of air defenses from Pantsir to S-300 systems. The plant produces solid rocket fuel for Uragan, Smerch and Tornado-S MLRS, as well as other missile and aviation systems. Key workshops had anti-drone protection and were surrounded by earthworks. Several air-defense vehicles were also hit.”
  • “Drone Strike on Moscow Region: Atlant Warehouse Complex Hit.” Not technically a Wildberries warehouse.
  • “Big Flamingo Missile Strike on Russian Rocket Factory in Samara! Only Soyuz Rocket Factory.”
  • “Russian Convoy of Trucks Destroyed on Berdiansk-Mariupol Supply Road.”
  • Updated damage assessment from last week’s Novorossiysk strike. “Admiral Makarov & Admiral Essen Confirmed Out of Action in New Imagery!”
  • The Russian fuel situation has gotten so bad that even Russian newspapers are talking about it. “As of the 16th of August, across Russia, 28.1% of petrol stations had fuel. A week before, it was 41%.” Imagine more than two thirds of stations having no gas and long lines at the ones that do.
  • “Two federal agencies routed taxpayer dollars to terror-linked charities.”

    The State Department worked with World Vision to distribute $2 billion in global health foreign assistance even though an Israeli court convicted the nonprofit’s Gaza affiliate operations manager of sending up to $50 million to Hamas in 2022. Separately, the Health and Human Services Department (HHS) provided nearly $80 million to 14 organizations linked to terrorism and extremism.

    The Middle East Forum (MEF) recently reported that 14 terror-linked and extremist organizations, led by CAIR, collected nearly $80 million from HHS through the Refugee Resettlement, Health, and Mosque Renovation grants. Through this fund, the Council on American-Islamic Relations’ (CAIR) California chapter received the most of any Islamist group, collecting $42.2 million in funding from the HHS to provide legal and social services to Afghan refugees.

  • Concerning: “Chinese Spy Official Who Is Also A Trained Sniper Buys Property Overlooking White House.”

  • “Liberal white woman fights fascism by defacing national memorial to soldiers who died fighting Hitler.” ‘This morning, we are filing two felony charges, Depredation Against Property of the United States and Destruction of Veterans’ Memorials, in Federal District Court against Melissa L. Farris, offenses that carry penalties of up to ten years in prison.” TDS strikes again.
  • How is this legal? “Karen Bass brags that Los Angeles will use tax dollars to provide a 6:1 match for every dollar donated to her campaign.”

    Karen Bass is very worried about losing her mayoralty to left-winger Nithya Raman, who squeaked past Spencer Pratt in the primary election due to a bunch of election shenanigans, and Bass has an interesting campaign strategy.

    Using city tax dollars to fund her campaign!…

    The city of Los Angeles “donates” money to Bass’s campaign in a matching program? If you give $10, the city chips in another $60? And she’s pushing this program?

    Through the foreign-donation-taking ActBlue, no less.

    Per the City Ethics Commission (I kid you not), the city charter allows for “public matching funds.”

    Left-wing group Common Cause California brags about “strengthening” this public match fund in 2019.

    The program is intended to help less-funded candidates get access to funding, but in actuality, all it does is take YOUR tax dollars to fund politicians you hate.

  • Background on the Frankfurt school, one of the intellectual fathers of the poison that is social justice.

    The Frankfurt School. You should know what it was, what it built, and why you are still living inside it.

    1. The Institute for Social Research was founded in Frankfurt in 1923 and relocated to Columbia University in 1934 when Hitler came to power. The civilization they had decided to dismantle gave them refuge when another tried to kill them. They spent the next five decades producing the theoretical infrastructure for that dismantling. Western civilization itself was the problem: reason, the Enlightenment, the family, tradition, authority. Not reformed. Dismantled.

    2. They called it Critical Theory – and the name is the program. Everything is to be criticized; nothing is to be built. In The Dialectic of Enlightenment (1944), Adorno and Horkheimer argued that Western reason — the reason that produced Newton and the rule of law — contained the seeds of Auschwitz. Not that reason had been misused, but that reason itself, taken to its conclusion, produces the death camp. This was not a critique of institutions. It was an indictment of the civilization itself.

    3. Adorno gave them the psychological weapon. The Authoritarian Personality (1950) classified conservatism, religious faith, patriotism, and the traditional family not as political positions but as symptoms of a proto-fascist personality. If you believe in the nation or the father’s authority, you are pre-fascist. The opponent was no longer wrong – he was sick. You don’t argue with a pathology. You treat it.

    This made dialogue impossible. You don’t persuade someone who is wrong; you diagnose someone who is sick. Politics becomes therapy, and disagreement becomes pathology.

    4. Marcuse gave them the political weapon. Repressive Tolerance (1965) argued that tolerating wrong ideas is itself oppression. True tolerance therefore requires suppressing intolerant ideas. The left decides which ideas are intolerant. Everyone else is silenced – not despite tolerance, but “in its name.” Censorship dressed in the vocabulary of liberation.

    5. The generation that read Marcuse at Columbia, Berkeley, and Yale went on to run universities, media, foundations, NGOs, content moderation departments, and the EU regulatory apparatus. They implemented the argument sincerely because they had been taught it as philosophy. This was the Frankfurt School’s greatest achievement: it produced true believers.

    6. French Theory picked up the tools and made them aesthetic. Foucault made the critique of power literary. Derrida made the critique of meaning philosophical. Deleuze made the critique of identity elegant. A political program became a cultural sensibility. You can argue with a program. A sensibility is in the air you breathe. By the time these ideas reached the American campus through the French conduit, they were no longer ideology. They were the water. The fish did not know they were wet.

    7. A civilization stands on three pillars: truth exists and is accessible to reason; good is distinguishable from evil; and there is an inheritance worth transmitting. The Frankfurt School attacked all three – systematically and with considerable intellectual sophistication. It produced a generation that knows how to deconstruct and has forgotten how to build. That sees power everywhere and beauty nowhere.

    The ultimate achievement was to make destruction feel like progress. Every inherited institution became suspect; every constraint became oppression; every act of preservation became reactionary. Deconstruction became the default, while construction became something that needed to justify itself.

    (Hat tip: Ed Driscoll at Instapundit.)

  • Kurt Schlichter: “The Death of Academic Fraud Jason Arday Won’t Shut Us Up.”

    Fake Professor Jason Arday was found dead in the wake of being exposed as a complete fraud, and if it were my choice, he would still be alive and suffering the humiliation that should be the result of his crimes. I would prefer that he did not likely choose to kill himself instead of facing the consequences of his actions. My preference is irrelevant. If he decided to do himself in, it’s crushing for his wife and kids, and that was a selfish, cruel, and stupid decision. But it was his decision, as was his decision to commit fraud upon fraud. I don’t celebrate his death, and his death changes nothing. We’re not going to stop rooting out the charlatans.

    Of course, the entirely predictable response of the institutional left to his cowardly and apparent self-deletion has been to insist, loudly and with quivering outrage, that his death is our fault. You see, we normal people pointed out that he lied about his background, his achievements, his credentials, and his work. The fact that we did what a functioning institution should’ve done itself outraged his boosters, so these moral illiterates now invert the moral calculus to keep the exposure of academic fraud from happening again. Arday lied pathologically and endlessly, enabled by a ridiculously solicitous academia, then likely killed himself when his lies were exposed. Obviously, the villains are the people who did not lie and did not choose to end his life.

    And you’ll never guess their key accusation in a million years.

    Okay, you guessed it: RACISM!

    Snip.

    Regardless, it was entirely predictable that the left would use his unfortunate demise to try to shut us up, to place all criticism of woke charlatans off limits because the subject of the critique might decide to do something desperate. They can’t help themselves but act out irrationally, you see. The fact that this tactic deprives the minority of any agency is no shock; there’s no racist like a leftist, who considers minorities to be nothing more than political marionettes unable to control their own actions. We’re supposed to give them a pass because the targets of our criticism have no agency. It’s like that NSFW scene in Blazing Saddles where the sheriff keeps the townspeople from lynching him by sticking a gun to his head—“He’s just crazy enough to do it!” Except this time the townspeople were not trying to lynch an innocent man and didn’t back off, and he did pull the figurative trigger.

    We’re not going to play their game. We’re not going to hold fire for fear of feelz. We’re not going to ignore the truth lest the liar lash out at himself or others. Sometimes the truth hurts, but the only people the truth hurts are people exposed doing something they shouldn’t be doing. The truth is more important than feelings. And the truth is more important than Arday’s life. If the choice we are presented with is that Jason Arday will go on living a lie and degrading our civilization by doing so, or that Jason Arday might hurt himself, it’s Option 2 every day of the week. We’re not going to be held hostage or intimidated or shamed into silence and, therefore, complicity.

    (Hat tip: Ed Driscoll at Instapundit.)

  • “Here’s a Look at the State of Firearms Access in Texas Tribal Territories.” The problem is tribal law enforcement seems to fall between state and federal stools.

    Texas has three federally recognized Native American tribes: Ysleta del Sur Pueblo, located in the western part of the state in El Paso; the Kickapoo Traditional Tribe of Texas, located near Eagle Pass along the Rio Grande; and the Alabama-Coushatta Tribe of Texas, located in the eastern part of the state near Livingston.

    And two of those are along the Mexican border, which means drug smuggling is a big problem.

  • Bookseller Scott Brown has his own piece on destructive scanning of books for AI. I’m quoted in here, but Brown also points out that a lot more companies are doing such destructive scanning, including:
    • Anthropic
    • Meta
    • Amazon
    • He says Elon Musk has promised that SpaceX/xAI will not to do such destructive scanning, but expresses doubt.

    He also lists the company’s buying books for destructive scanning:

    • Zoom Books
    • Far Corner
    • Last Token
    • Innodata
  • “Here Are the Data Center Companies That Agreed to Comply With Gov. Greg Abbott’s Standards.”

    I’m going to quote a largish chunk here just so I can tag the various companies.

    In June, Abbott directed the Public Utility Commission of Texas (PUC) and the Electric Reliability Council of Texas (ERCOT) to require data centers to pay for their own electric infrastructure costs, scuttling at least one project planned for East Texas.

    Then, earlier this month, Abbott asked these agencies to audit all data center projects in the process of connecting to the Texas grid. According to his directive, data centers in the pipeline must provide and verify information about their water usage; their noise, light, and traffic mitigation efforts; how they plan to obtain electricity; whether they receive taxpayer money; and the real identities of their owners.

    A flurry of affirmative replies ensued, including assurances from some of the best-funded users and most prolific developers of data centers in the world.

    Many of these companies have already made use of a sales tax exemption for data center equipment — a 13-year-old state law passed before the remote work boom of the COVID-19 pandemic and the rise of generative artificial intelligence (AI) this decade propelled the industry well past the state’s expectations.

    Here are the data center companies that have agreed to comply with Abbott’s standards, cross-referenced with the state’s list of companies that benefit from the tax break.

    QTS Data Centers

    On August 6, Virginia-based Quality Technology Services (QTS) “applauded” Abbott’s “efforts to increase transparency on power use, water and resource consumption, and community considerations associated with data center development.”

    QTS data centers built after 2019 use fans rather than water for cooling, according to the company.

    The company operates three facilities in Texas and has three more in the pipeline, according to its website. The Texas Comptroller of Public Accounts certified one QTS facility, a 56-acre campus in Irving, to benefit from the state sales tax exemption.

    Vantage Data Centers

    Vantage Data Centers sent a letter of support to Abbott on August 7.

    The company, based in Denver, Colorado, only lists one active data center in Texas, at an undisclosed location in Shackelford County. However, it has secured a sales tax exemption for 12 projects listed by the comptroller, all for Oracle.

    Skybox

    Texas-based Skybox Datacenters agreed to Abbott’s standards on August 7.

    The company has built nine data centers around the state. Besides one in Wichita Falls, all are in the Dallas, Austin, and Houston metropolitan areas, according to its website. The comptroller’s list of qualifying data centers doesn’t include a project with Skybox in the name or one associated with its address at 3131 Turtle Creek Boulevard in Dallas, based on a search of the state’s franchise tax database.

    Digital Realty

    Digital Realty stated on August 7 that it would comply with Abbott’s standards. The Austin-based company claimed in its statement to be “the world’s largest cloud- and carrier-neutral data center platform.”

    Digital Realty operates more than 300 data centers that serve companies including Microsoft, Amazon Web Services, Nvidia and IBM. Twelve of its 14 Texas data centers are in the Dallas area, its website shows.

    Stream Data Centers

    Dallas-based Stream Data Centers agreed to Abbott’s standards on August 7.

    Altogether, nine Stream data centers are either active or in development across Texas, with one on the outskirts of Houston, three in San Antonio, one in Austin, and four in the Dallas area.

    Mara

    Mara agreed to abide by Abbott’s standards on August 7.

    The Florida-based company operates a Bitcoin mining fleet, and it “colocates data centers with power sources to convert stranded energy into digital capital,” its website states.

    The company name doesn’t appear on the comptroller’s list of qualifying data centers, nor do any subsidiary companies registered under the address of its Florida headquarters.

    Rowan

    Rowan Digital Infrastructure, another developer based in Denver, issued a press release in support of Abbott’s orders on August 7.

    The company owns and operates four data centers in Texas that benefit from the sales tax exemption, including one in Temple for Meta and another in Cinco for Google.

    Meta

    Meta, the California-based parent company of Facebook, pledged to comply with Abbott’s standards on Monday.

    Meta’s three Texas data centers are in Fort Worth, Temple, and El Paso, according to its map.

    Multiple data centers owned or used by Meta benefit from the state’s sales tax exemption. One subsidiary company, Polmer LLC, owns the certified data center in Temple and occupies two other data centers on the comptroller’s list of certified projects. The El Paso facility is owned by a Meta subsidiary, Wurldwide LLC, which also makes use of the exemption.

    OpenAI and Oracle

    California-based company OpenAI, which created ChatGPT, agreed to comply with Abbott’s standards on Monday. Oracle, also based in California, made the same commitment on Tuesday.

    OpenAI is collaborating with Oracle and SoftBank on Stargate, a $500 billion AI infrastructure project based in Abilene and funded in part by chipmaker Nvidia. Lancium, a company backed by New York-based investment firm Blackstone, is constructing the facility, according to its website.

    Eleven Lancium data centers and projects appear on the comptroller’s list, spanning Fort Stockton, Turkey, Childress, and Abilene. Seven projects in Abilene are associated with Stargate, with Oracle listed as an occupant.

    Core Scientific

    Core Scientific issued a press release in support of Abbott’s directives on Monday.

    The company, based in Miami, Florida, operates three data centers in Texas: one in Austin, one in Denton, and one in the Callahan County town of Cottonwood, according to its website.

    All three benefit from the state tax exemption, the comptroller’s list shows.

    Google

    The California-based Big Tech titan expressed support for Abbott’s standards on Monday.

    The comptroller lists Google as the owner or user of nine data centers that benefit from the sales tax exemption.

    CleanSpark

    Data center developer CleanSpark Inc. agreed with Abbott’s standards on Monday.

    The Nevada-based company doesn’t publish a comprehensive map or list of its data center locations, but as of February, it owned two plots of land in Brazoria County and Austin County with plans to develop facilities there, according to an investor relations press release.

    Neither CleanSpark nor the only Texas entity registered to its corporate address, Eagles Nest 138 LLC, appear on the comptroller’s list of data centers.

    EdgeConneX

    Virginia-based EdgeConneX announced support for Abbott’s standards in its Tuesday press release.

    The company doesn’t specify how many discrete data centers it operates in Texas, but it’s only active in the Houston and Austin areas, according to its online map.

    The state has certified two EdgeConnex projects for the tax exemption, both in the Austin area.

    SB Energy

    SB Energy sent Abbott a letter on August 6 expressing support for his directives and publicized it on Tuesday.

    The Redwood City, California-based company is building a facility in Milam County in support of Stargate, with Orion listed as an occupant on two projects that benefit from the state sales tax exemption.

    Data Center Coalition

    The Data Center Coalition, a trade association that represents data center companies, expressed support for Abbott’s directives on Tuesday.

  • Speaking of data centers, Trump is in the pro-data center camp.
  • “Former Fauci Adviser David Morens Pleads Guilty to Conspiracy to Hide Covid-Related Records.”

    David Morens, a former senior adviser at the National Institute of Allergy and Infectious Diseases, pleaded guilty on Tuesday to hiding federal records from Freedom of Information Act (FOIA) requests during the Covid-19 pandemic.

    Morens, a senior adviser at NIAID’s Office of the Director from 2006 to 2022 under Dr. Anthony Fauci, was charged by the Department of Justice in April with five counts related to the scheme.

    He agreed to a deal with federal prosecutors this week that would see him plead guilty to one count of conspiracy to commit offenses or to defraud the United States. The charge carries up to five years in prison.

    Snip.

    The indictment came after the House Select Subcommittee on the Coronavirus Pandemic found evidence that Morens had used his personal email to discuss Covid-19’s origins and National Institutes of Health grants with EcoHealth Alliance, including a terminated coronavirus grant, in an attempt to keep the communications hidden from hypothetical future FOIA requests.

    The committee obtained a communication between Morens and EcoHealth President Peter Daszak in which Morens wrote, “I can either send stuff to Tony on his private gmail, or hand it to him at work or at his house. He is too smart to let colleagues send him stuff that could cause trouble.”

    Why it was almost like their was a conspiracy of secrecy against the American people…

  • “Tajik killer who avoided jail due to insanity ruling flees U.S. the moment his mental hospital grants him a day pass.”

    Abdulloi Toshpulodzoda left the Northern Virginia Mental Health Institute (NVMHI) on July 6 for an authorized 48-hour pass. He was required to return two days later, but he never did, FOX 5 reported, citing court documents.

    Instead, Toshpulodzoda traveled to Washington Dulles International Airport and boarded a Turkish Airlines flight to Istanbul before continuing to Dushanbe, Tajikistan, court documents show.

    Snip.

    FOX 5 reported that Toshpulodzoda had previously been allowed to travel to Washington, D.C., in 2024 to obtain a passport, with support from the Commonwealth’s Attorney’s Office.

    Sorry, a what? Passport? And then they gave him a 48-hour pass? And then they were surprised that he fled the country and never came back?

    Well done, everyone.

    You may not be surprised to learn that it was the office of far-left Steve Descano, the prosecutor for Fairfax County, that allowed him to get the passport.

    The Trump admin is suing Descano for releasing violent criminals. You may recall that Descano went viral for allowing a registered sex offender to change in the girls’ locker room at multiple HIGH SCHOOLS because the sex offender now identifies as a woman.

    Is Descano backed by George Soros? Of course he is.

  • It’s quite concerning that the USS Benfold, an Arleigh Burke-class guided-missile destroyer, was was dead in the water for four days in the South China Sea due to a power systems failure.
  • Nigel Farage wins his election and returns to Parliament.
  • Very suspicious: “Bastrop City Council Holds Official Workshop 100 Miles Away from their Constituents.”

    On August 7th, the Bastrop City Council conducted official workshops not in Bastrop (where one might reasonably expect), but more than one hundred miles away in Fredericksburg. The posted agenda lists the location as the John Wm. Klein Meeting Room at 115 N. Crockett Street in Fredericksburg, roughly a two-hour drive from the city those officials were elected to serve.

    And no, these were not informal “retreats” for city council members to relax and blow off steam. These were formal City Council workshops covering the very decisions that hit taxpayer’s wallets and daily lives hardest: the city budget, setting the tax rate, Hotel Occupancy Taxes, capital projects, the Master Transportation Plan (including an East/West connection north of Highway 71), water and wastewater planning, street projects, and “Future Goals” that include a recreation center, expanded fire and police service, data center policies, and Legislative “advocacy.” An extensive list of hot-button issues all to be discussed far away from their constituents.

    State Rep. Stan Gerdes (R-Smithville), whose district includes Bastrop, correctly called out the problem: “The City of Bastrop is holding a City Council meeting hours away in Fredericksburg, making it nearly impossible for the people they represent to attend and participate.” He noted the agenda’s weight on budget, tax rate, data centers, and surveillance technology and announced plans to file legislation requiring city council meetings to be held inside the city they serve so residents can actually show up, speak, and hold officials accountable.

  • Flock says “I can change!” 

    Security camera company Flock Safety has announced changes to its privacy safeguards amid public opposition to use of the devices and concerns about law enforcement abuse.

    However, U.S. Rep. Keith Self (R–McKinney) told Texas Scorecard that although these changes are welcome, Flock is obviously “trying to gain acceptance and put lipstick on a pig amid the intense pushback they have received from Americans across the nation who are rightfully concerned about their privacy.”

    “The bottom line is Americans do not want to be spied on, and they reject the surveillance state operating in America,” said Self. “The Fourth Amendment is not a suggestion. Federal and state legislation are still needed to ensure the government cannot access this data without a warrant—and that taxpayer dollars are not spent purchasing or installing this invasive spyware. That’s why Congress needs to pass my bill, the PRIVACY Act.”

    Self filed the PRIVACY Act last month. It would require federal law enforcement to obtain official warrants before accessing or querying data collected by state and local systems, including automated license plate readers.

    Powered by artificial intelligence, Flock cameras have been a hotly debated topic across the U.S., with concerned Texans requesting that state lawmakers create guardrails for the technology during the upcoming legislative session.

    Since law enforcement officials do not need a warrant to access the Flock automated license plate reader (ALPR) database, citizens are raising concerns about potential Fourth Amendment violations.

    Among the technology updates is a new default setting of 7-day data retention instead of the previous 30 days. This change is based on Flock’s analysis that all searches “without a full plate are done within a week.”

  • “Cami Clark, the low-profile wife of Anthropic CEO Dario Amodei, tried to court Jeffrey Epstein as an investor for her “luxury porn company.”
  • WNBA Reddit bans mention of WNBA player.
  • The Critical Drinker/Gamer covers a hacker group penetration of Rockstar games, evidently including full playable source code of the highly anticipated Grand Theft Auto 6. They’re even threatening to release the ending if Rockstar don’t promise to eschew the greedy enshitification of games (like ending physical media) that’s now standard practice in the industry.
  • Orlando PD vs. one pissed off alligator.
  • Ubobtanium cars.
  • Rick Beato and The Professor of Rock interview take 2.
  • Merica:

    (Hat tip: According to Hoyt.

  • Niu Lai is a sleeper hit in China, mainly because the animation is so bad, something that might have been a 3D animation demo reel in 1994. (Hat tip: Ann Althouse.)
  • Star Trek: Strange New Worlds has a new episode where a transporter malfunction turns most of the crew into Muppets.

  • In news that may be of interest only to me, both BattleSwarm and Futuramen had huge upticks in Views this week, at least ten times normal traffic, though a smaller uptick in unique Visitors, and I notice no single post generating such traffic. I can only assume some AI scanned the entirety of the site. 
  • “DeSantis Explains To Newsom Secret To Counting Ballots In One Night Is Not Committing Fraud.”
  • “Kentucky Derby Convenes Committee To Determine What Is A Horse.”
  • “Chicago Principal Concerned As High School Senior Only Assaulting Teachers At Fifth-Grade Level.”
  • You made me love you…

    (Hat tip: Ace of Spades HQ..)

    • I’m still between jobs. Feel free to hit the tip jar if you’re so inclined.





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    Posted in Crime, Democrats, Elections, Foreign Policy, Jihad, Media Watch, Military, Social Justice Warriors, Technology, Texas, Waste and Fraud, Welfare State | 8 Comments »

    LinkSwarm For December 13, 2024

    Friday, December 20th, 2024

    Because I had to get out my book catalog last week, I’ve been as busy as Kathleen Kennedy on Ruin Star Wars Day, so this is another two-weeks crammed into one LinkSwarm. It’s just been a packed two weeks, with so many major stories breaking up not going to tease them up here, so let’s jump right in.

  • “21 Soros-linked district attorneys replaced since 2022 by voters seeking ‘tough-on-crime’ policies.”

    A new report has revealed that 21 George Soros-linked district attorneys across the United States have been replaced by “tough-on-crime” prosecutors. The report also noted that four have left office, either through recall efforts or other means.

    Among those listed by the Law Enforcement Legal Defense Fund were former Portland District Attorney Mike Schmidt, who lost a May election to Democrat challenger Nathan Vasquez, Western Judicial Circuit District Attorney Deborah Gonzalez, who lost her reelection bid to Kalki Yalamanchili, and Kim Foxx, the former Cook County State’s Attorney who in 2023 announced that she would not seek reelection.

    For those who were removed from office, there is Hinds County District Attorney Jody Owens, who in November was indicted on federal bribery charges, and Alameda County District Attorney Pamela Price, who was recalled last month after serving just 18 months in office, per The National News Desk.

    Replacements also noted by the report were Los Angeles County District Attorney George Gascon, who lost to challenger Nathan Hochman in last month’s election, and former Baltimore City State’s Attorney Marilyn Mosby, who lost the 2022 Democratic primary election to Ivan Bates. Since her election loss, Mosby has been found guilty of one count of mortgage fraud.

    All of them need to go.

  • Speaking of Soros tools: Subway Samaritan Daniel Penny found not guilty on all charges. Just like Kyle Rittenhouse, he never should have been charged in the first place. Soros tool Alvin Bragg needs to be impeached and removed from office.
  • Christopher Wray steps down as FBI head. This shouldn’t keep the Trump Administration from prosecuting for his manifest interference in the political process.
  • More Democratic Party fundraising fraud. “ActBlue, the massive online fund-raising platform for liberal causes, has informed Congress it did not automatically block donations made with foreign-bought gift cards until recently.” Almost like the entire party is a giant money laundering scam…
  • Busted. “Georgia Court Removes Fani Willis from Trump Case over Relationship with Special Prosecutor.”

    An appellate court removed Fulton County district attorney Fani Willis (D) from the racketeering case against President-elect Donald Trump over her romantic relationship with special prosecutor Nathan Wade.

    Georgia’s court of appeals ruled Thursday that Willis will be removed from the case because of the appearance of misconduct surrounding her relationship with Wade, but did not throw out the case all together.

    “While we recognize that an appearance of impropriety is generally not enough to support disqualification, this is the rare case in which disqualification is mandated and no other remedy will suffice to restore public confidence in the integrity of these proceedings,” the three judge panel ruled.

    Left unstated is that her lawfare attack on Trump was both illegal and unconstitutional.

  • “Law enforcement arrested and charged a suspect on Monday in connection with the murder of UnitedHealthcare CEO Brian Thompson, which occurred in New York City on Wednesday outside a Manhattan hotel. Luigi Mangione, 26, of Towson, Md., was stopped by auth0rities in Altoona, Pa., on Monday. The detained suspect had a handwritten manifesto that criticized the health care industry.
  • Biden’s Department of Education spent $1 billion to infect schools with DEI, because of course they did.
  • He also handed Iran access to $10 billion, because promoting terrorism, plotting to destroy Israel, and trying to build nuclear weapons are activities that Democrats seem eager to reward.
  • Winning. “ABC News and anchor George Stephanopoulos have reached a settlement in a defamation suit brought by President-elect Donald Trump, which requires the network to apologize, contribute $15 million to a ‘Presidential foundation and museum to be established by or for Plaintiff,’ and pay Trump’s legal team $1 million.”
  • Believe it or not, that wasn’t the biggest settlement ABC owner Disney agreed to pay out this month. They also agreed to pay $233 million to settle a minimum wage lawsuit.
  • How DeSantis and Abbott bussing illegal aliens to blue sanctuary cities changed the game.

    As Saul Alinsky once said, make your enemies live up to their words.

  • Let the Democratic Party Civil War commence.

    The battle lines are now drawn between West Coast liberals, Bernie Sanders-socialists and moderate technocrats in the Midwest, who insist the party has completely lost touch with the average American voter.

    But first, there is one thing that all sides seemingly agree on: The current political establishment must be chased out of national politics for good. A reckoning is coming.

    ‘The people that are responsible for this s**tshow are the Obama people. They’re just grifters,’ a well-connected Democratic donor exclusively told Daily Mail. He singled out Jen O’Malley Dillon, who went from Biden 2024 campaign chair to serve in the same role for Harris’s camp, and David Plouffe, an ex-Obama 2008 campaign manager turned top Kamala adviser.

  • “Trump sues Des Moines Register, pollster for ‘brazen election interference’ over faulty polling in presidential race.” I think it’s very unlikely that Trump will win this lawsuit, thanks to First Amendment protections and the “absence of malice standard.” Plus pollster Ann Selzer can always just claim “I just sucked at my job.” She retired after the election.
  • After Assad fell, Israel pounded the snot out of his remaining military assets.

    Israel pounded Syrian army bases on Tuesday in strikes it says aim to keep weapons from falling into hostile hands, but denied its forces had advanced into Syria, toward Damascus, beyond a buffer zone at the border.

    Regional security sources and officers within the now-fallen Syrian army who spoke to Reuters described Tuesday morning’s airstrikes as the heaviest yet, hitting military installations and airbases across Syria, destroying dozens of helicopters and jets, as well as Republican Guard assets in and around Damascus.

    The rough tally of 200 raids overnight had left nothing of the Syrian army’s assets, said the sources.

    The Israeli Air Force has carried out over 300 airstrikes in Syria since the collapse of the regime, destroying advanced weapons and other capabilities.

    Strikes reportedly carried out by Israel in Damascus’s Barzeh area completely destroyed a defense ministry research center, AFP correspondents reported on Tuesday. Western countries including the United States struck the facility in 2018, saying it was related to Syria’s “chemical weapons infrastructure.”

    Plus they sunk the entire Syrian navy.

  • Speaking of pounding the snot out of things:

  • Videos of Russia buggering out of Syria.
  • Ukraine hit a solid rocket propellant plant in Russia.
  • “Palantir CEO Alex Karp Eviscerates Democrats: Voters ‘Do Not Want To Hear Your Woke Pagan Ideology.'”

    Alex Karp, the co-founder and CEO of Palantir, said late last week that Democrats lost the 2024 election because they did not understand the fundamental human desire to feel safe.

    Karp made the remarks during a panel discussion at the Reagan National Defense Forum while talking about what Americans expect out of the U.S. government.

    “Americans are the most loving, God-fearing, fair, least discriminatory people on the planet,” he said. “They want to know that if you’re waking up and thinking about harming American citizens, or if American citizens are taken hostage and kept in dungeons, or if you’re a foreign power sending fentanyl to poison our people, something really bad is going to happen to you and your friends and your cousins, and your bank account and your mistress, and whoever was involved.”

    He continued, “When Americans are spending a trillion dollars on ‘defense,’ what I want and what I think my peers want is: why are these people keeping our citizens as hostages, torturing our people, attacking our allies, maligning us in what was once called the United Nations — basically a discriminatory institution against anything good? We need to stand up and those people need to be scared.”

    He said that it was critical for the U.S. to dominate because “we have the best products in the world, and we can not have parity.”

    “Our adversaries do not have our moral compunction,” he said. “If it is even, they will take advantage of our niceness, our kindness, our desire to be at home in Nebraska and New Hampshire or wherever we live, in our peaceful environments.”

    “They need to wake up scared, and go to bed scared, and if you give that to the American people, the American people will go back and say — and honestly, I probably shouldn’t say this, this is why I thought the Democrats were going to lose the election, and why they did, because people want to live in peace,” he continued. “They want to go home. They do not want to hear your woke pagan ideology. They want to know they’re safe. And safe means the other person is scared. That’s how you make someone safe.”

  • Democrats are now, finally, pissed at Obama. “There are people there are people who are now multi-millionaires as a result of the Harris campaign, and we know exactly who they are. And I just want to say that half a billion dollars in advertising went to just four well-heeled Democratic firms. This whole thing is deeply incestuous.”
  • China cracks down on economists telling the truth about how much their economy sucks rather than parroting Beijing’s approved lies.
  • “Ozy Media Founder Carlos Watson Sentenced To Hefty Prison Term For Defrauding Investors. [He] was sentenced to 116 months, or nearly ten years, in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft in an unusual case that briefly captivated the media world.”
  • “Crystal Mangum admits to fabricating 2006 Duke lacrosse scandal accusations.” And by “scandal” they mean “false accusations of rape.” So when can we expect apologies from Nancy Grace and Amanda Marcotte? (Hat tip: Ed Driscoll at Instapundit.)
  • “Biden’s EPA just made the first-ever “climate change” related arrest.”
  • More of that voting fraud Democrats swear doesn’t exist. “2020 Carrollton Mayoral Candidate Admits to Mail Ballot Fraud. Zul Mohamed pleaded guilty Monday to 109 voter fraud felonies.”
  • “After Donald Trump flipped his county for the first time in a century, longtime Democratic Webb County Judge Tano Tijerina has announced he is switching parties to the Republicans saying that “the [Democratic] party left me, and the people of South Texas behind.”
  • Three soldiers arrested for smuggling illegal aliens into the country.

    Three U.S. Army soldiers have been arrested in Texas on criminal charges relating to smuggling illegal aliens.

    The three soldiers were based at Fort Cavazos, which is near Killeen in Central Texas.

    Fort Cavazos is The Fort Formerly Known As Fort Hood. I might have been a little more worked up over the name change if Hood hadn’t been such a shitty general.

    U.S. Border Patrol agents made an initial traffic stop of a suspicious vehicle in the city of Presidio, located in West Texas on the Rio Grande. As an agent approached the vehicle’s passenger side, the driver sped away—hitting a second Border Patrol vehicle and injuring the agent inside.

    The vehicle was eventually stopped by local law enforcement officers who detained four individuals in the car. Three were illegal aliens, and one was identified as U.S. Army soldier Emilio Mendoza Lopez.

    The driver of the vehicle was reported as being another soldier named Angel Palma, who fled on foot from the vehicle but was located in Odessa a day later.

    Presidio is nearly 500 miles away from where the soldiers were stationed.

    “Mendoza Lopez and Palma allegedly traveled from Fort Cavazos to Presidio for the purpose of picking up and transporting undocumented noncitizens,” announced the U.S. Attorney’s Office for the Western District of Texas. “A third individual, Enrique Jauregui, is alleged to be the recruiter and facilitator of the human smuggling conspiracy.”

  • “Tren De Aragua Gun Runner Released by Biden Admin Charged in Texas Capital Murder.” Democrats sure love murderous gang members… (Hat tip: Issues and Insights.)
  • “Laredo Educator Arrested for Production of Child Pornography. Carlos Jobany Castaneda Lechuga was a lecturer at Texas A&M International University, but has since been removed from the staff directory.”
  • “Three More Texas Teachers Nabbed for Child Porn.”

    Three Texas teachers made news last week over charges of child pornography—also known as child sexual abuse material, as the images and videos depict sex crimes being committed against minors.

    The educators worked in Dallas, Leander, and Wall Independent School Districts. Two of the three taught band.

    On December 13, Dallas Police arrested Sean Turner, 34, and charged him with possession of pornography featuring a child younger than 10 years old—a first-degree felony.

    Snip.

    Retired principal Curtis John Locklear was arrested December 12 and charged with felony possession of child porn.

    Locklear was arrested by the Montgomery County Precinct 3 Constable’s Office working with the Houston-area Internet Crimes Against Children (ICAC) task force.

    Snip.

    Also on December 12, a federal judge sentenced Joshua Carroll to 30 years in prison for possessing and producing child porn.

    Carroll was an assistant band director in Wall ISD from January 2022 until his crimes were discovered earlier this year.

  • Texas Republican Congressman Dan Crenshaw got dinged by the Internet for insider trading. So then Crenshaw attacked the Internet. It didn’t go well for him.
  • Phllly man awarded $41 million for overturned murder conviction is back in jail for murder.
  • AOC loses an election to be the ranking member of the Oversight and Accountability Committee to 74-year-old Gerry Connolly. “Connolly is undergoing chemotherapy and immunotherapy for esophagus cancer.”
  • In addition to being a brutal dictator, Bashar Assad was also a drug pusher.
  • Google unveils a newer, more powerful quantum chip.

    Google on Monday introduced a new chip called Willow, which solved in five minutes a computing problem that would take a classical computer more time than the history of the universe.

    Tech companies are chasing quantum computing in hopes of developing systems that perform at speeds far faster than traditional silicon-based computers.
    The building blocks of quantum computers, called “qubits”, while being fast, are error-prone, making it hard to ensure quantum computers are reliable and commercially viable.

    The more qubits used in quantum computing, the more errors typically occur. But Google said on Monday it found a way to string together qubits in the Willow chip so that error rates decline as the number of qubits rise, adding that it can also correct errors in real time.

    My understanding of how quantum computers work is limited to popular explanations, but D-Wave is evidently still in business, so maybe they work?

  • It’s been a long time since I found Louis Black funny, but this rant on the Democrats post-election reactions is pretty good.
  • MSNBC viewers haven’t returned.

  • City in Florida tries to fine man over $1 million for 10 year old code violation fines against the previous owner for a home the new owner bought on foreclosure.
  • Company YesMadam surveys employees to see how stressed they feel…then lays off employees feeling stressed. Then reveals the whole thing was a publicity stunt.

  • Assad had a really shitty survival bunker. Plus a garage of luxury cars.
  • “Jordan Peterson Flees “Totalitarian Hellhole” Canada For U.S. Due To Censorship, Taxes.” Welcome to the land of the free and the home of the brave.
  • “How Now, Woke Longhorn? An Open Letter to University of Texas President Jay Hartzell.”
  • “Trump announces $100 BILLION investment to create 100,000 US jobs from Japanese company Softbank.”
  • Add Big Lots to the list of retail chains that died thanks to the Biden Recession. (Hat tip: Stephen Green at Instapundit.)
  • Broadcom hit $1 trillion in market cap this week.
  • Jaguar is going all in on woke thanks to new CEO Adrian Mardell, and the infection is spreading to fellow Tata subsidiary Land Rover.
  • First reaction to Mufasa: The Lion King: “Profoundly awful.”
  • The trailer for James Gunn’s Superman dropped. I’ve never seen a Superman film in theaters, and this will not be getting me in. But you’ve got to give Gunn credit for thinking way outside the box and including Krypto the Superdog and Hawkman, two characters that absolutely no one in the greater viewing public was clamoring for.

  • Don McMillan has cracked the Hallmark Christmas movie code.
  • Heh:

  • “Now Now, Let’s Not Be So Hasty To Find And Assassinate Everyone Responsible For The Healthcare Crisis,’ Says Nervous Obama.”
  • “Assassin Luigi Mangione Takes Lead In 2028 Democratic Primary Polls.”
  • “Members Of Congress Explain They Need Pay Raises To Keep Up With The Inflation They Caused.”
  • “Biden Calls For New Gun Laws He Can Pardon His Son For Breaking.”
  • “Running Low On Ideas, God Makes Oklahoma.”
  • “Unclear If Pianist Total Beginner Or Professional Jazz Player.”
  • In you go:

    (Hat tip: Ace of Spades HQ.)

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    Posted in Border Control, Communism, Crime, Democrats, Elections, Foreign Policy, Global Warming, Guns, Jihad, Media Watch, Military, Obama Scandals, ObamaCare, Regulation, Republicans, Social Justice Warriors, Texas, unions, Waste and Fraud, Welfare State | 7 Comments »

    “A Mass Extinction Event For Startups”

    Thursday, January 25th, 2024

    The Biden recession and other trends made 2023 a horrible year for startups.

  • “Big startups are shutting down. According to PitchBook, more than 3,000 private venture backed startups failed in the last year.”
  • “Of the startups raising money, 19% were funded at a lower valuation than in prior funding rounds.”
  • “38% of VCs disappeared from dealmaking last year and more than a quarter of a million workers at tech companies were laid off over the same period.”
  • “US corporate bankruptcy filings closed out 2023 with the most filings since 2010. The year has been described as a mass extinction event for startups in the press.”
  • Some of the startup failures Boyle namechecks (Hyperloop, Bird) seemed like stupid ideas from the git-go. “Bird the electric scooter rental company—which was also supposed to reinvent public transportation—filed for chapter 11 bankruptcy protection. It was the fastest startup to ever land a billion-dollar valuation, and at its peak was worth two and a half billion dollars. It was delisted from the New York Stock Exchange in September after failing to maintain a market cap of above $15 million dollars for 30 consecutive days.”
  • “Who would have thought that renting scooters to drunk people for a dollar (who would then throw them in a canal on their way home) would be a money losing business? Bird ran up more than $1.6bn in net losses since 2018 before finally running out of money.”
  • Smile Direct Club: $8.9 billion valuation at 2019 IPO. “The stock fell in value over time as the company proved to be unprofitable year after year. The company shut down last month $900 million dollars in debt.”
  • One I never heard of: “The health tech startup Olive AI which reached a peak valuation of $4 billion dollars in 2020 driven by the need for automation in healthcare during the pandemic. The company raised over 900 million dollars from investors. In 2022 the company began laying off staff citing ‘tough economic conditions.’ The company was allegedly trying to raise money when it abruptly shut down in November. Going out of business in 2023 was particularly surprising for a company with AI in its name.” Indeed, AI seems to be the current space where stupid money goes to die.
  • Another one I never heard of: Zume.

    No.

    “Zume – the robot pizza delivery company which had raised $445 million dollars in VC funding, the majority of which came from SoftBank in 2018 at a two and a quarter billion-dollar valuation, shut down this summer.” Stupid, but at least I can see why California companies would invest heavily in food automation with that $16 (and rising) minimum wage.

  • WeWork “set out to revolutionize office real estate – by having an app – which I’m told didn’t work very well, and free beer on tap filed for bankruptcy in November.” I’ve covered WeWork previously.
  • “WeWork and its founder Adam Neumann were the poster boys of how a blitzscaled business model led by a charismatic founder could apply a veneer of technology to an old business idea and attract venture capital funding to achieve a multibillion dollar valuation.”
  • “At its peak, WeWork was valued in private markets at $47 billion dollars. Softbank alone invested 16 billion dollars into the company. Masayoshi Son, SoftBank’s founder, allegedly invested his first $4.4 billion dollars in the shared office space company after Neumann gave him a 12-minute tour of a WeWork in 2016. With such a short tour, it’s unlikely that the free beer even had an impact.”
  • “Softbank – run by Masayoshi Son (Japan’s Cathie Wood) was one of the biggest startup investors in the last decade. They invested in all sorts of non tech companies that were made to look like tech in order to attain a sky-high valuation. According to Bloomberg, the SoftBank Vision Fund alone lost $53 billion dollars over the last two years on startup investments.”
  • “We have seen a very difficult period for startups over the last year or two, but it comes in the wake of probably the best period for VC backed startups in decades. During the decade from 2011 to 2021 VC investment in private start-ups grew more than sevenfold, from 46 billion dollars in 2011 to $345 billion dollars in 2021.”
  • “In 2022 when the federal reserve began hiking interest rates, this money began drying up as investors lost their taste for unprofitable, but high growth, investments.”
  • That investment boom was driven by two things: Low interest rates and “a recent history of profitable exits from VC funded startups like Facebook, Google, Whatsapp and Snap meant that investors were suddenly paying a lot of attention to tech startups – hoping to repeat those successes.”
  • “Venture capital went from being a small asset class run out of offices on Sand Hill Road that had burned investors in the dot com bubble to a massive global asset class like hedge funds or private equity.”
  • The Flu Manchu lockdowns brought investment from “‘working from home’ companies like Zoom and Peloton.” I always thought of Peloton as a lifestyle luxury brand.
  • “People were using apps like Uber and DoorDash for food delivery, and booking rentals on Airbnb to get out of big cities now that they no longer had to turn up in the office.”
  • “While the prior wave of profitable high growth tech stocks had been (one way or another) in the advertising space, or in businesses like cloud computing, the new wave of startups had untested business models—gig economy businesses which attracted a lot of competition and might never flip to profitability—or robot-made pizza which would be cooked on route to a customer’s home.”
  • “A lot of the VC’s possibly believed in many of the questionable investments that have since gone bust, but a venture capital fund isn’t really there to hold on to these investments until the underlying business flips to profitability. They invest at the idea stage with the goal of selling these businesses on to the public when the hype is at its peak.”
  • “They did manage to unload a number of the biggest flops like WeWork – but not at the valuations they were hoping for, and have found themselves holding the bag on a lot of investments that they bought into at peak valuation.”
  • “The huge valuations many of these companies were attaining in the private market may have been more of a function of how much money had flowed into the private tech startup market since 2011 rather than necessarily reflecting the quality of these companies and their business models.”
  • “According to Erin Griffith at The New York Times, $27.2 billion dollars in VC funding had gone into the 3,200 venture-backed companies that went out of business in the first 11 months of 2023.” And that’s just the firms trackable on PitchBook. The true total is almost certainly higher.
  • “That 27.2 billion dollar number excluded many of the largest startup failures that went public, like WeWork, or that found buyers at much lower prices than VC investors had invested at.”
  • “The hype around AI that we have seen in the last year has masked a lot of the losses in the tech space.”
  • “Meta was up 178 percent last year due to a combination of AI hype and cost cutting within their core business. This covers up the 46.5 billion dollars lost on the Metaverse – which no one will venture into, for fear that they run into Mark Zuckerberg.” I strongly suspect that a lot of those VR losses are actually money siphoned off for something else.
  • Despite this, stocks like Meta, Microsoft and Nvidia have hit all-time highs.
  • “One of the negative economic effects of startup shutdowns is that in such an environment it becomes harder for founders with good business ideas to get funding.”
  • “According to PitchBook, the number of active investors in US Venture Capital, which was defined as firms that made two or more deals in the last year, plummeted by 38% in the first three quarters of 2023 compared to the same period the prior year.”
  • Many of the startup failures were zombie companies, those that should have failed earlier but were kept alive by VC money and low interest rates.
  • “No one wants to see firms going out of business, especially startups which are often the most exciting and innovative firms, but if a business model makes no sense, or only works in a zero-interest rate environment, then its disappearance means that capital can again flow in the direction of the best businesses.”

    • (Previously.)

    The startup bust has direct negative effects on me personally, as I’m still between technical writing positions, and a lot of the jobs I’ve gotten over the past two decades have been with startups.





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    Posted in Economics, video | 13 Comments »

    Nvidia To Buy Arm

    Tuesday, September 15th, 2020

    Fabless chipmaker Nvidia, famed for their graphic chips and bitcoin mining rigs, has agreed to buy Arm (formerly ARM) Holdings from current owner Softbank for $40 billion.

    Arm had $1.9 billion in revenue in 2019, and over 22 billion chips shipped with Arm IP in 2019.

    Arm’s specialty is licensing it chip design IP to other manufacturers to incorporate into their own designs. Arm has a well-earned reputation for producing designs that squeezes the most performance per watt out of a given die sized. Think of it as an all-purpose CPU mix-and-match design kit, allowing companies to quickly design custom chips incorporating their own special sauce without reinventing the wheel for every JTAG port and ring oscillator. Arm-derived designs have come to completely dominate mobile devices, and Apple, who had previously used custom cores incorporating Arm IP into their iPhone and iPad lines, just this year announced that they’re moving from Intel to an Arm-based custom chip for their Macintosh PC line.

    The great thing about Arm is that all they make is money. They license their IP at (for most customers) relatively modest per-chip cost, and most (possibly all) the major chip foundries have licensed their IP for one thing or another. So have most Integrated Device Manufacturers (i.e., chip companies that still run their own wafer fabs, an increasingly pricey proposition), including rival Intel, which has dominated PC CPUs for about an eon of Internet time.

    Nvidia currently uses both TSMC and Samsung for foundry partners, both of which have Arm licenses.

    A lot of the microwave instant-analysis of “Oh, now Nvidia gets more of that sweet Apple business” is probably greatly overstated, and is at best a minor consideration. The sort of highly parallelized vector processing that Nvidia specializes in is increasingly being used in IT centers and high performance computing for a wide variety of tasks, their GPUs either supplementing or entirely replacing traditional CPUs. Nvidia continues to cram an ever-higher number of CUDA cores (designed for highly parallelized tasks) into its chips. Fully integrating Arm’s renowned power-savings techniques into each of those cores, and being the first to take advantage of that technology, is potentially huge.

    All mergers are fought with peril, but if Nvidia pulls off the integration, Intel could be facing the biggest challenge to its dominance since PowerPC and DEC Alpha were pushing it in the late 1990s.

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    Posted in Uncategorized | No Comments »