World News Daily(2024-08-24) : DOJ Sues RealPage Alleging Algorithmic Collusion in Rent Pricing
DOJ Sues RealPage Alleging Algorithmic Collusion in Rent Pricing
The Department of Justice, along with eight states, has sued software firm RealPage. They claim RealPage's tools helped landlords collude, driving up rents. Attorney General Merrick Garland bluntly stated, "Everybody knows the rent is too damn high, and we allege this is one of the reasons why."
RealPage, owned by Thoma Bravo, denies the allegations. They call the lawsuit a "distraction" from broader economic issues. The company insists its software is legally compliant and has cooperated with the DOJ.
This lawsuit marks a first: the government accusing a company of using algorithms to subvert free-market competition. Antitrust laws, according to Garland, remain relevant despite new tactics.
The case comes amid a presidential election where high housing costs are a hot topic. Democratic nominee Kamala Harris has plans to tackle rental costs, including cracking down on collusion tools used by landlords.
The White House supports fair enforcement of antitrust laws to prevent illegal collusion. National economic advisor Lael Brainard emphasized the Biden-Harris administration's commitment to ensuring no one pays higher prices due to corporate lawbreaking.
ScoresPolitics
The Chinese Ministry of Public Security introduces new measures to simplify online identity verification.
The Chinese Ministry of Public Security plans to introduce "Internet Numbers" and "Internet Certificates" to simplify online identity verification. Users can voluntarily apply for these, which are used for non-plaintext registration and identity verification, avoiding the need to repeatedly provide plaintext personal identity information. The existing authentication methods remain valid, and internet access is still possible without "Internet Numbers" or "Internet Certificates." "Internet Numbers" obscure personal information, while "Internet Certificates" are simplified digital certificates, offering a safer and more convenient option in scenarios requiring identity verification.
ScoresUS Imposes Broad Sanctions on Russia and International Allies
The US Treasury has imposed severe sanctions on Russia, targeting 400 names, individuals, and companies from Russia and beyond. The objective is to eliminate tools that support Russia's military and evade sanctions.
Among the sanctioned entities:
- 46 Chinese firms and one individual.
- 34 Russians, including a son of Russia's Defense Minister.
- International figures from Belarus, Italy, Turkey, and more.
Key Russian entities affected:
- Space firms such as Roscosmos and its affiliates.
- Cargo airlines like Volga-Dnepr and subsidiaries.
- Cybersecurity divisions of MTS and related groups.
- Drone manufacturers Vostok and Stratim.
- Defense research institutes and design bureaus.
- Heavy industries such as Evraz and coal companies.
- Norilsk's mining and metallurgical plants.
- Energy giants YATEK and its affiliates.
- Moscow Jewelry Factory.
Tankers for liquefied natural gas (LNG) transportation, flagged in Palau and Panama, and associated companies, are also subject to sanctions.
This action is significant, targeting sectors crucial to Russia's economy and military. It sends a clear message: supporting Russia's military efforts comes with a high cost.
ScoresCrypto Firms Dominate 2024 Election Donations, Shaping Policy Influence
Crypto firms are pouring money into the 2024 U.S. elections, outspending traditional heavyweights like oil companies and banks. According to Public Citizen, a watchdog group, crypto donations make up nearly half of all corporate contributions, totaling around $119 million.
Coinbase and Ripple dominate these donations, accounting for over 80%. The funds primarily support super PACs backing pro-crypto candidates. This surge in spending reflects the industry's efforts to sway policy amid ongoing legal battles with the SEC.
Donald Trump, positioning himself as pro-crypto, has attracted significant funding from the sector. However, money flows to both parties, as control of the House, Senate, and presidency remains uncertain.
Fairshake, a leading pro-crypto super PAC, has raised over $169 million, mostly from major crypto firms. This money is being used to support candidates across party lines, aiming to influence the election outcome.
The strategy seems effective: crypto-backed candidates won 36 out of 42 primary races. However, campaign ads rarely mention crypto directly, focusing instead on traditional political issues.
This influx of funds highlights the influence of corporate money in elections, a trend exacerbated by the Supreme Court's Citizens United decision. Crypto's aggressive spending underscores its growing political clout and the challenges it poses for regulatory balance.
ScoresSociety
"China Achieves Early Clean Energy Target"
China achieved President Xi's 1,200 gigawatt clean energy goal six years ahead of schedule. In July, an additional 25 gigawatts of wind and solar capacity was added, bringing the total to 1,206 gigawatts. China is the global leader in clean energy investment, setting new records for installations. This rapid expansion has reduced coal-fired power and may have already peaked emissions before 2030.
ScoresHelen Fisher's Scientific Exploration of Love
Helen Fisher, a biological anthropologist, lived as an Explorer—novelty-seeking, creative, independent. She crafted a personality test categorizing people into four types, each linked to specific neurochemicals. Fisher, high in dopamine, matched with John Tierney, her husband, also an Explorer.
Fisher's research delved into the biological roots of love, identifying three brain systems: sex drive, romantic love, and long-term attachment. Her studies using fMRI scans revealed that love activates brain regions similar to those in addiction.
Her work culminated in the Fisher Temperament Inventory, a test taken by over 40 million people, aiding in matchmaking. Fisher's life, full of romantic entanglements, finally settled with Tierney, whom she married at 75, maintaining separate homes.
Fisher's legacy is her scientific exploration of love, blending hard data with poetic insight, proving that understanding love's biology can enhance relationships. Her life and work underscore the complexity of human emotions and the value of scientific inquiry in unraveling them.
ScoresVenus Express Mission Reveals Dramatic Changes in Venus's Atmosphere
Researchers using ESA's Venus Express discovered unexpected increases in H2O and HDO, water molecules with different isotopes, in Venus's middle atmosphere. The ratio of HDO to H2O surged significantly, suggesting a history of water loss and potential past habitability.
Venus, now harsh and dry, might once have had abundant water like Earth. The high HDO/H2O ratio, 120 times what's seen on Earth, indicates heavy water loss due to hydrogen's light weight, allowing it to escape into space.
A proposed mechanism for this involves sulfuric acid aerosols forming above the clouds, which then rise, heat up, and release more HDO than H2O, starting a cycle that enriches the atmosphere in deuterium.
These findings, crucial for understanding planetary habitability, were published in the Proceedings of the National Academy of Sciences.
ScoresGreat Britain's Solar Power Surge: A Summer Record in the Making
Great Britain's solar power sector is experiencing significant growth. This summer, solar output is expected to increase by nearly 25% compared to last year. Experts forecast a 16% increase from the 2022 record, with solar generation potentially reaching 5.86 terawatt hours by August.
Solar panels function even on cloudy days, although their efficiency decreases when temperatures are too high. The government aims to triple solar capacity by 2030, while doubling onshore wind capacity and quadrupling offshore wind capacity.
Three new solar farms, approved by the Labour government, will significantly boost capacity. Another potential large-scale farm at Cottam could become the UK's largest.
The "rooftop revolution" initiative aims to install solar panels on millions of homes, thereby reducing energy bills and emissions. The CEO of Solar Energy UK highlights the rapid expansion of solar capacity.
The Department for Energy Security and Net Zero emphasizes the role of solar energy in transforming Britain into a clean energy superpower and reducing energy dependency.
Explanation of Terms:
- Terawatt hours (TWh): A unit of energy equivalent to one trillion watt hours, used to measure large quantities of electrical energy.
- Photovoltaic cells: Devices that directly convert sunlight into electricity.
Affordable Lab-Grown Meat Could Challenge Organic Chicken Prices
New research from Jerusalem's Hebrew University and Believer Meats has cracked the code on affordable lab-grown meat. They've developed a continuous production method using a technique called tangential flow filtration (TFF), boosting cell count to 1300 billion per liter and achieving a 43% weight yield. This process ran for 20 days straight, daily harvesting biomass.
They also introduced a non-animal serum, priced at $0.63 per liter, sustaining high-density chicken cell growth. This innovation slashes production costs, potentially making cultured meat a mainstream option.
A hypothetical 50,000-liter facility could churn out cultured chicken at $6.20 per pound, matching organic chicken prices. This breakthrough not only promises a sustainable food future but also challenges traditional livestock farming's dominance.
Tangential flow filtration (TFF) is a method used to purify and concentrate substances, like cells, by passing them through a filter under pressure, retaining larger particles while allowing smaller ones to pass through.
ScoresEconomy
Justice Department Sues RealPage for Alleged Rent Price-Fixing
The Justice Department sued RealPage, a property management software provider, for allegedly enabling landlords to fix rents. RealPage's software shared nonpublic information, suggesting rent hikes. This scheme, violating the Sherman Act, hurt millions of renters.
Antitrust laws prevent businesses from unfairly controlling prices. The Sherman Act, a key law, bans monopolies and collusion. RealPage's actions, using software to coordinate rents, skirted these laws, leading to higher rents for tenants.
ScoresStock Market Surges as Powell Hints at Rate Cuts
Stocks surged Friday as Fed Chair Powell hinted at interest rate cuts. The Dow climbed 462 points, or 1.14%, closing at 41,175.08. The Nasdaq and S&P 500 also rose, by 1.47% and 1.15% respectively.
Powell's speech at Jackson Hole signaled a shift in policy, with rate cuts dependent on economic data. Traders responded positively, betting on a cut in September.
Technology stocks, notably Tesla and Nvidia, jumped over 4%. Small-cap stocks, as measured by the Russell 2000, gained more than 3%.
UBS anticipates rate cuts at the next three Federal Open Market Committee (FOMC) meetings. They suggest investors consider fixed income and equity income strategies.
Former PIMCO chief economist, Paul McCulley, sees potential for 50-basis-point cuts if the August jobs report disappoints.
Market strategist David Russell believes Powell's dovish signals will support the market through year-end.
Uranium ETFs surged after Kazakhstan cut its 2025 production target, due to limited access to sulfuric acid and production delays.
ScoresEmpowering Employees: The Key to Boosting Productivity with AI
Lifting productivity in Asia requires more than AI; it needs engaged employees. The World Bank notes lagging productivity, partly due to uneven skills and weak management. AI can boost output, but only if workers are empowered to use it.
Employee experience directly impacts the bottom line. Qualtrics research shows firms that excel in understanding and responding to employee feedback see triple revenue growth and double profitability. Yet, employee engagement indicators have stagnated or declined in many Asian countries, especially in the service sector.
Improving employee experience involves better listening and timely responses to workforce needs. This goes beyond annual surveys; frequent, specific insights are crucial. Understanding employee support needs during onboarding, high-performing team characteristics, and software usage can enhance productivity.
During the COVID pandemic, frequent listening programs correlated with higher employee satisfaction and productivity. Companies must adapt engagement strategies as work evolves. Investing in adaptive employee experiences can yield significant organizational benefits.
For example, a leading sports brand doubled sales and boosted customer advocacy by 20 points through employee feedback-driven improvements. Regular training and manager feedback were key.
In short, AI alone won't solve productivity issues. Empowered, engaged employees are the real key.
ScoresTechnology
Solar-Powered Airship Achieves Nighttime Hovering for Internet Access
Sceye's HAPS, a 65-meter solar-powered helium airship, hovers in the stratosphere. It provides internet access to remote areas, remaining airborne for months. First flown in 2021, it charges during the day and hovers at night. It is slated for a commercial launch in 2025.
HAPS stands for High-Altitude Platform Station, a drone-like device that operates at high altitudes, typically in the stratosphere.
Scores"Napkin AI: Simplifying Visual Content Creation"
Napkin AI simplifies visual creation. It transforms text into graphics, charts, and diagrams. Input text, get visuals.
This tool streamlines communication. Clear visuals replace lengthy explanations. Ideal for reports, presentations, and more.
In essence, Napkin AI is a modern pen and paper. It makes complex ideas simple, direct. A useful addition to any writer's toolkit.
ScoresExploring Open Source Alternatives to Popular Software
In "17 Open Source Tools That Could Replace Your Favorite Software," Madza explores alternatives to popular software. These open-source tools offer cost savings, flexibility, and customization.
- Drawio replaces LucidChart. It's free, supports offline use, and integrates with Google Drive and GitHub.
- Penpot is an open-source Figma alternative. It supports real-time collaboration and cross-platform compatibility.
- Hoppscotch is a lightweight API development tool, faster and simpler than Postman.
- Supertokens offers open-source authentication, simplifying user management and enhancing security.
- n8n automates workflows, connecting various apps and services without vendor lock-in.
These tools enhance productivity and offer customizable solutions. They reflect a growing trend towards open-source software, providing viable alternatives to proprietary systems.
ScoresVideo Game
"Black Myth: Wu Kong" sales exceed ten million, with peak concurrent players reaching three million.
"Black Myth: Wu Kong" has sold over ten million copies, with a peak concurrent player count reaching three million. The game's sales exceeded 2.68 billion RMB, far surpassing its 400 million RMB development cost. This marks a new milestone for the Chinese gaming industry, filling the void of domestic AAA titles. The game blends "Journey to the West" with traditional Chinese culture, narrating the story of a small monkey following in the footsteps of Sun Wukong.
ScoresBeyblade Evolves into a Cross-Generational Sport
Beyblade, the spinning tops game, has evolved into a sport. Tomy, the Japanese toy manufacturer, marks its 25th anniversary with the launch of Beyblade X, which sold 5 million units within a year. The game now grants points for gameplay, fostering greater engagement and offering exclusive blades via a mobile app.
In July, 500 players ranging from 6 to 62 years old competed in Osaka. A newcomer, a young boy, triumphed over more experienced opponents. Sales of Beyblade X have outpaced previous versions, exceeding 5 million in Japan.
The Beypoint System rewards players for their involvement and victories, converting gameplay into points that can be redeemed in a lottery for rare blades. The mobile app, utilized by 200,000 players, streamlines point management and enriches the gaming experience.
Tomy has broadened Beyblade's appeal beyond traditional boy's toys, positioning it as a sport that transcends generations. Female participation has risen to nearly 10%, up from 1-3% in earlier tournaments. The company is focused on attracting a more diverse player base and expanding globally.
Venues that host Beyblade events experience higher visitor traffic and sales. Tomy remains committed to enhancing the game to attract a wider audience and maintain its popularity.
Scores"Marvel Ultimate Reverse: The Rising Star of Strategy Card Games Sets Release Date for Public Beta Testing"
Led by "Hearthstone's Father" Ben Brode and crafted by the former Blizzard team behind "Hearthstone," "Marvel Snap" is a competitive strategy card game (CCG) set to begin its public beta on August 29th. Developed by Second Dinner Studio, the team includes veterans such as former Hearthstone executive producer Hamilton Chu.
The game is known for its fast-paced battles, with each match lasting only three minutes, where players engage in six rounds using 12 cards. It combines a "shared turn system" with a "super boost" mechanism, offering strong strategic elements that are easy to learn but deeply engaging.
"Marvel Snap" features over 300 Marvel hero cards, each with multiple variant designs created through collaborations with global artists. The game quickly earned the "TGA Game of the Year for Mobile" award after its release, surpassing strong contenders like "Genshin Impact" and "Diablo Immortal."
In summary, "Marvel Snap" is a game that merges the allure of Marvel heroes with the fun of strategy card games, attracting widespread attention with its unique mechanics and fast-paced gameplay.
ScoresEntertainment
Amazon launches new drone MK30, addressing noise issues and expanding delivery services.
Amazon and Walmart's drone delivery plans face challenges. Amazon's Prime Air project in a Texas college town has been protested by residents over noise issues. The drone noise ranges from 47 to 61 decibels, which residents describe as sounding like a swarm of bees. The mayor has written to the Federal Aviation Administration to express residents' dissatisfaction. Amazon plans to introduce smaller and quieter MK30 drones and expand to Phoenix.
Walmart has partnered with DroneUp, but has ended drone delivery services in some areas due to cost issues. DroneUp plans to lay off 17% of its staff and close 18 distribution centers, aiming to reduce delivery costs from $30 to under $7.
China is actively developing in the drone delivery sector, with drone delivery and takeout services already launched in multiple cities. Beijing has established drone logistics delivery routes, allowing tourists to quickly receive supplies delivered by drones.
Drone delivery faces challenges such as noise, cost, regulation, and technology. Amazon and Walmart need to find a balance between innovation and community harmony. Although drone delivery technology represents the future of logistics, its commercialization still requires time and effort.
ScoresHealth
Record-Breaking Heatwave Sweeps China
This year's midsummer heat broke records, with average temperatures reaching 23.24℃ across China, the highest ever recorded. Southern regions endured prolonged heatwaves, and even after midsummer, the south continues to experience scorching temperatures. The next four days will bring relentless heat to the Sichuan Basin, Jianghan, western Yangtze River Delta, and central-western south China, with local peaks expected to reach up to 42℃ in Sichuan and Chongqing.
July marked a new high for average temperatures, and August is expected to bring even more intense heat to Jiangsu, Zhejiang, and Shanghai. The Climate Change Bluebook 2024 warns of increasing extreme weather events. National forecasts suggest a warmer-than-usual summer, with persistent northern heat and frequent afternoon storms in North and Northeast China.
In June, over 20 weather stations surpassed historical temperature records, and October's national average was the warmest since 1961.
ScoresHiroko Nishimura: Overcoming Adversity to Teach Tech
Hiroko Nishimura's journey is one of resilience and transformation. Born in Japan, she moved to the U.S. as a child and was later diagnosed with a brain tumor in her early twenties. After surgery, she underwent significant recovery, including relearning to walk and talk. Despite ongoing disabilities, Nishimura has flourished, transitioning from a career in special education to roles in system administration and cloud engineering.
Her expertise has led to the authorship of technical books, notably "AWS for Non-Engineers," and the founding of the AWS Newbies community. Over half a million students have enrolled in her LinkedIn Learning course. Nishimura's story highlights the power of determination and adaptability in the face of adversity.
The podcast, hosted by freeCodeCamp's Quincy Larson, explores Nishimura's cultural and linguistic adaptation, her health challenges, and her professional journey. It serves as a testament to the human spirit's ability to overcome and inspire.
ScoresIndia's Persistent Issue with Women's Safety: A Call for Systemic Change
India's ongoing struggle with women's safety was starkly highlighted by the recent rape and murder of a 31-year-old doctor in Kolkata. This incident, reminiscent of the 2012 Delhi gang-rape, has sparked widespread protests and demands for systemic change.
Despite India's aspirations to global leadership, its record on gender-based violence remains grim. Rape and domestic violence are prevalent, with low conviction rates. The Supreme Court has intervened, questioning the handling of the Kolkata case and advocating for immediate protective measures.
Gender-related violence is not unique to India, but the rapid urbanization and economic growth have not translated into safer public spaces for women. Traditional customs continue to restrict women, making their safety a secondary concern.
The 1997 Supreme Court guidelines to prevent workplace harassment have been ineffectively implemented. Vrinda Grover, a lawyer and women's rights activist, criticizes the unprofessional and prejudiced approach of state authorities in handling sexual assault cases.
The ongoing protests, supported by public figures, underscore broader concerns about workplace safety for women. Gita Gopinath of the IMF emphasizes the necessity of safety for women to fully participate in the labor force.
India ranks 128th out of 177 countries in the Georgetown Institute for Women, Peace and Security's annual index, underscoring the urgent need for reform.
ScoresSports
Shohei Ohtani Achieves Historic 40-40 Milestone in MLB
Shohei Ohtani, Los Angeles Dodgers, made MLB history. He hit his 40th home run and stole his 40th base in 126 games, faster than anyone before. His grand slam won the game against the Tampa Bay Rays, 7-3.
Ohtani's achievement, known as the 40-40 club, puts him among elite players like Alex Rodriguez and Barry Bonds. He's the first Dodger to reach this milestone.
Manager Dave Roberts called it "storybook." Ohtani, humble, focused on team wins, not personal records.
This season, Ohtani's base stealing improved significantly. His 12 steals in August without being caught set a Dodger record.
Ohtani's goal: lead the Dodgers to the World Series. His performance this season makes him a strong contender for National League MVP.
ScoresFood
Indian Spice Brands Face Safety Scrutiny Abroad
Indian spice brands MDH and Everest have faced safety issues abroad. Hong Kong halted sales in April due to high pesticide levels. Britain, New Zealand, the U.S., and Australia have scrutinized imports.
India's Food Safety and Standards Authority tested 4,054 samples. 474 failed, about 12%. No brand-specific data was provided. Penalties were imposed, but details were sparse.
Canada's CFIA monitors the situation, with no current issues reported.
India's spice market is massive, worth $10.44 billion domestically and $4.46 billion in exports.
The incident underscores the global reach and scrutiny of food safety. Even minor lapses can have wide repercussions.
ScoresChinese Food and Beverage Brands Expanding in Southeast Asia
Chinese food and beverage companies are making waves globally, especially in Southeast Asia. Haidilao, a Sichuan hotpot chain, led the charge, starting in Singapore twelve years ago. Now, it operates 119 stores worldwide, with most in Southeast Asia.
Other brands like Tai Er, Zhangliang Malatang, and Yang’s Braised Chicken Rice have followed, expanding across multiple countries. Mixue, a bubble tea giant, boasts over 4,000 stores in 11 countries. Even Luckin Coffee, once in trouble, has rebounded with 37 stores in Singapore.
These companies use franchising and direct operations to expand. Franchising is popular, especially in Southeast Asia due to lower costs and easier management. Brands often rely on overseas Chinese entrepreneurs for local expertise.
Despite growth, challenges persist. Supply chain issues and localization are hurdles. Competition is fierce, demanding high operational efficiency, cost control, and innovation.
The expansion reflects China's saturated domestic market and the global appeal of its diverse cuisines.
Scores