A Forever Mouse, Meta's Reality Check, and a Checkless Reality

Happy Wednesday, all, we’re about to hit you with the good stuff!

Logitech’s blending gaming and pro gear while teaming up with tech giants and going green with recycled materials and carbon-neutral goals. Scammers tried to hustle Ferrari’s CEO with AI, but a sharp exec shut them down faster than a deepfake disaster. Intel’s CPU drama is like a tech soap opera – patches and promises, but your crashing computer might need more than a Band-Aid. Senators are slamming car companies for selling your data without consent. Meta’s Reality Labs is bleeding cash, yet still aiming big with AR/VR. MIT and Harvard turned cement into a supercapacitor – your driveway might just become a battery. Instant payments are shaking up banking, solar panels are taking over German balconies, and Aston University shattered internet speed records. Finally, Lollapalooza is going eco-friendly with hybrid batteries and plant-based eats, and Rolls-Royce is making nuclear reactors for space, because that’s a thing now.

Buckle up and enjoy the ride – it’s a wild world out there!

Artificial Intelligence

Scammers impersonating Ferrari CEO Benedetto Vigna were thwarted by a vigilant executive. The executive received text messages and a convincing phone call, seemingly from Vigna, discussing a confidential acquisition and requesting discretion. Suspicious of minor inconsistencies in the voice, the executive asked a personal question only Vigna would know. The call abruptly ended, revealing the scam. The fraudsters had used AI to mimic Vigna’s voice, highlighting the rise of AI deepfake scams. This incident underscores the growing threat of AI technology being misused to deceive employees into transferring funds, costing companies millions.

The Metaverse and Spatial Computing

Meta’s Reality Labs division has lost nearly $50 billion over four years, equivalent to the market caps of Snap and Pinterest combined. This loss is attributed to chaotic management, frequent reorganizations, and a lack of AR/VR expertise among top leaders. Despite promises of efficiency, Reality Labs’ losses continue to grow, with a projected $5 billion loss for Q2 2024 alone. The division’s failures, including poor product adoption and management issues, have led to low morale and criticism from former employees. Analysts remain concerned about the financial sustainability of Meta’s massive investments in AR and VR, which have not yet yielded significant returns.

Hardware

Logitech is navigating both convergence and bifurcation in user needs, balancing gaming and professional products. Despite mobile trends, the PC remains central, prompting innovations like video conferencing tools and the MX Ink stylus for Meta Quest. Strong partnerships with tech giants (e.g., Microsoft, Alphabet, Meta, Apple) are crucial, especially under platform restrictions. Logitech emphasizes sustainability, using recycled materials and aiming for carbon-neutral products. AI integration focuses on enhancing productivity through better interfaces while maintaining sustainability goals. The concept of "forever" products supports a circular economy. Despite competition from major tech firms, Logitech's specialization in human-technology interfaces drives innovation. Committed to extending human potential, Logitech blends innovation, sustainability, and strategic partnerships to stay relevant and impactful.

Intel's issues with its 13th- and 14th-gen CPUs persist despite identifying the instability's source and promising a patch. The patch won’t fix CPUs already experiencing crashes, and the problem affects a broader range of models than initially thought, including all 65W and higher CPUs and mainstream non-K models. Intel advises using Default Settings in the motherboard BIOS while awaiting a microcode update, though replacement might be necessary for damaged CPUs. The instability stems from erroneous microcode causing unsafe voltage requests. Intel is investigating other potential causes but isn't planning a recall or halting sales of affected processors.

Scientists at Aston University have set a new world record for data transmission speed, achieving 402 terabits per second (Tbps) over optical fiber, surpassing their previous record of 319 Tbps. This achievement is due to their development of the first optical transmission system using all six wavelength bands, enabling faster data transfer and potential cost reductions. The system, which uses advanced optical fibers and signal processing techniques, is 16 million times faster than typical home broadband. This breakthrough could revolutionize internet connectivity, making high-speed data transfer more accessible and affordable.

Energy

Rolls-Royce has received £4.8 million ($6.2 million) from the UK Space Agency to advance its nuclear micro-reactor for space applications, boosting total project funding to £9.1 million ($11.7 million). This compact reactor, designed for lunar bases and deep-space missions, aims to provide reliable, portable power, overcoming the limitations of solar panels and batteries. With a design capable of generating 1 to 10 MW and fueled by enriched uranium or plutonium, it promises significant advancements in space exploration and propulsion. Rolls-Royce plans to complete the design in 18 months and expects initial tests before the decade's end.

MIT and Harvard researchers have developed a groundbreaking concrete supercapacitor, turning ordinary cement, water, and carbon black into energy storage devices. This innovation could revolutionize energy storage, making concrete a key player in capturing and releasing excess power from renewable sources like solar and wind. Unlike traditional batteries, concrete supercapacitors offer rapid energy storage but currently discharge quickly, limiting their use for steady power applications. Despite environmental concerns associated with cement production, this technology holds promise for a sustainable future, including energy-storing foundations and roads that charge electric vehicles. Further research is needed to scale up and address environmental impacts.

At a Berlin trade fair, Waltraud Berg discovered compact solar panels designed for easy installation on balconies. These panels, which can power small appliances, are part of a growing trend in Germany, where over 500,000 such systems have been installed. New laws and relaxed regulations have boosted their popularity. Solar capacity in Germany increased significantly this year, with a goal to expand photovoltaic power by 2030. Most panels are imported from China, keeping costs low. The rise in interest is driven by high electricity prices and new consumer-friendly regulations, fostering a DIY culture in solar energy.

Lollapalooza 2024 will be the first major U.S. music festival to power its main stage entirely with a hybrid battery system, using over 1.5 MWh of battery storage. This initiative, powered by a partnership between Live Nation’s Green Nation, T-Mobile, and CES Power, replaces traditional diesel generators. The festival aims to set a new standard in sustainability by reducing noise and air pollution. In addition, Lollapalooza will feature a new plant-based food court and an activation by Re:wild, promoting conservation and plant-based diets. The festival kicks off at Grant Park in Chicago with a star-studded lineup.

Finance

Scott Anchin predicts a shift away from checks due to emerging payment methods. Checks, which pose security risks and are prone to theft, are being replaced by instant payments—an innovation introduced in the U.S. with FedNow and RTP systems. Unlike traditional methods like wire transfers or ACH, instant payments process transactions in real-time and are free for the sender. While real-time payments are gaining traction globally, they are new in the U.S. and face challenges such as accessibility and irrevocability. Instant payments offer speed and convenience but are not yet universally adopted or without drawbacks.

Automotive

Senators Ron Wyden and Edward J. Markey have urged FTC Chair Lina S. Khan to investigate car manufacturers' practice of collecting and selling driver data without consent. This data, including details on time, distance, speed, and braking, is sold to insurance companies, sometimes using deceptive tactics. The senators specifically target General Motors, Honda, and Hyundai for their dealings with data broker Verisk Analytics. Despite some companies claiming to end such practices, investigations show they persist. The senators argue this lack of transparency and consent is particularly egregious given the high cost of vehicles.