80% of Millennials Say They Want to Buy a Home—But Most Have Less Than $1,000 Saved
May 29th, 2017Via: CNBC:
Millennials aren’t buying homes in the same numbers as previous and older generations, but it’s not because they don’t want to. The vast majority of millennials do indeed aim to buy someday, or would even like to now if they could. Unfortunately, the numbers don’t look good.
New data from Apartment List shows that, although 80 percent of millennials would like to purchase real estate, very few are in a good position to buy, largely because they have nothing saved. According to the report, “68 percent of millennials said they have saved less than $1,000 for a down payment. Almost half, or 44 percent, of millennials said they have not saved anything for a down payment.”
Related:
‘Side Hustle’ as a Sign of the Apocalypse
Google Now Tracks Your Credit Card Purchases and Connects Them to Its Online Profile of You
May 29th, 2017Via: MIT Technology Review:
Google’s new ability to match people’s offline credit card purchases to their online lives is a stunning display of surveillance capitalism in action.
The capability, which Google unveiled this week, allows the company to connect the dots between the ads that it shows its users and what they end up actually buying. This is a crucial link for Google’s business that, for all of the company’s inventiveness, remains a matter of attracting users to its predominantly free services, collecting user data, and leveraging that data to sell advertising. If Google can show that someone who saw an ad for a furniture store in Google Maps, say, then went and made a big purchase at that store, the store’s owner is much more likely to run more ads.
Of course, Google has been able to track your location using Google Maps for a long time. Since 2014, it has used that information to provide advertisers with information on how often people visit their stores. But store visits aren’t purchases, so, as Google said in a blog post on its new service for marketers, it has partnered with “third parties” that give them access to 70 percent of all credit and debit card purchases.
So, if you buy stuff with a card, there’s a less than one-in-three chance that Google doesn’t know about it.
Outage
May 28th, 2017Several people alerted me to a problem on Cryptogon earlier today. Indeed, there was a database problem that resulted in no posts displaying.
I’ve got it working again.
British Airways Cancels Flights as Major IT Failure Causes Worldwide Delays
May 27th, 2017Via: Guardian:
British Airways has cancelled all flights from Heathrow and Gatwick before 6pm on Saturday due to a major IT failure that is causing very severe disruption to its global operations.
The airline said that its terminals at Heathrow and Gatwick had become “extremely congested” due to the computer problems.
It had therefore decided to cancel all flights from both of the UK’s biggest airports before 6pm UK time on Saturday. “Please do not come to the airports,” BA said.
“We are extremely sorry for the inconvenience this is causing our customers and we are working to resolve the situation as quickly as possible.”
Travellers have been told to check ba.com and its Twitter account for updates about the situation.
The IT failure has struck on one of the busiest travelling days of the year in the UK, coinciding with the start of a bank holiday weekend and the half-term break for some schools.
The cause of the issue remained unclear, but passengers on one flight were told by the pilot that the IT problems were “catastrophic”.
BA said there was no evidence a cyber-attack had caused the outage.
Zbigniew Brzezinski Dies at 89
May 26th, 2017Via: Bloomberg:
Zbigniew Brzezinski, who as national security adviser to President Jimmy Carter advocated a hard line toward the Soviet Union and helped develop the unsuccessful military mission to rescue American hostages in Iran, has died. He was 89.
How Facebook’s Tentacles Reach Further Than You Think
May 26th, 2017Via: BBC:
Facebook’s collection of data makes it one of the most influential organisations in the world. Share Lab wanted to look “under the bonnet” at the tech giant’s algorithms and connections to better understand the social structure and power relations within the company.
…
“If Facebook were a country, it would be bigger than China,” says Mr Joler, whose day job is as a professor at Serbia’s Novi Sad University.
He reels off the familiar, but still staggering, numbers: the barely teenage Silicon Valley firm stores some 300 petabytes of data, boasts almost two billion users, and raked in almost $28bn (£22bn) in revenues in 2016 alone.
And yet, Mr Joler argues, we know next to nothing about what goes on under the bonnet – despite the fact that we, as users, are providing most of the fuel – for free.
“All of us, when we are uploading something, when we are tagging people, when we are commenting, we are basically working for Facebook,” he says.
The data our interactions provide feeds the complex algorithms that power the social media site, where, as Mr Joler puts it, our behaviour is transformed into a product.
Trying to untangle that largely hidden process proved to be a mammoth task.
“We tried to map all the inputs, the fields in which we interact with Facebook, and the outcome,” he says.
“We mapped likes, shares, search, update status, adding photos, friends, names, everything our devices are saying about us, all the permissions we are giving to Facebook via apps, such as phone status, wifi connection and the ability to record audio.”
All of this research provided only a fraction of the full picture. So the team looked into Facebook’s acquisitions, and scoured its myriad patent filings.
The results were astonishing.
Visually arresting flow charts that take hours to absorb fully, but which show how the data we give Facebook is used to calculate our ethnic affinity (Facebook’s term), sexual orientation, political affiliation, social class, travel schedule and much more.
One map shows how everything – from the links we post on Facebook, to the pages we like, to our online behaviour in many other corners of cyber-space that are owned or interact with the company (Instagram, WhatsApp or sites that merely use your Facebook log-in) – could all be entering a giant algorithmic process.
And that process allows Facebook to target users with terrifying accuracy, with the ability to determine whether they like Korean food, the length of their commute to work, or their baby’s age.
Another map details the permissions many of us willingly give Facebook via its many smartphone apps, including the ability to read all text messages, download files without permission, and access our precise location.
Individually, these are powerful tools; combined they amount to a data collection engine that, Mr Joler argues, is ripe for exploitation.
“If you think just about cookies, just about mobile phone permissions, or just about the retention of metadata – each of those things, from the perspective of data analysis, are really intrusive.”
Gunmen Kill 26 in Attack on Christians in Egypt
May 26th, 2017Via: Reuters:
Gunmen attacked buses and a truck taking a group of Coptic Christians to a monastery in southern Egypt on Friday, killing 26 people and wounding 25 others, witnesses and the Health Ministry said.
An Interior Ministry spokesman said the unidentified gunmen had arrived in three four-wheel-drive vehicles.
Eyewitnesses said masked men stopped the two buses and a truck and opened fire on a road leading to the monastery of Saint Samuel the Confessor in Minya province, which is home to a sizeable Christian minority.
Security forces launched a hunt for the attackers, setting up dozens of checkpoints and patrols on the desert road.
The grand imam of al-Azhar, Egypt’s 1,000-year-old center of Islamic learning, said the attack was intended to destabilize the country.
“I call on Egyptians to unite in the face of this brutal terrorism,” Ahmed al-Tayeb said from Germany, where he was on a visit.
President Abdel Fattah al-Sisi called a meeting of security officials, the state news agency said. The Health Ministry put the toll at 26 dead and 25 wounded.
Subaru to Develop Electric Variants of Current Range
May 26th, 2017Via: The Motor Report:
Subaru is set to join the ever-expanding electric vehicle field, but rather than developing a new ground-up EV platform the Japanese automaker will adapt its current range.
GM Sued Over Diesel Emissions
May 25th, 2017Via: Bloomberg:
General Motors Co. was sued for allegedly putting defeat devices in trucks to beat emissions tests, making it the fifth carmaker to be accused of diesel cheating since Volkswagen AG admitted in 2015 to flouting pollution rules.
Owners and lessees of more than 705,000 GM Duramax branded diesel trucks filed a class-action lawsuit Thursday, claiming GM installed defeat devices in two models of heavy-duty trucks from 2011 to 2016. The 190-page complaint is littered with 83 references to Volkswagen, and asserts that the environmental damage caused by each truck could surpass that of the German automaker’s vehicles.
GM’s cheating allowed its trucks to pass U.S. inspections, even while they spewed emissions two to five times the legal limit under regular driving conditions, according to the complaint filed in Detroit federal court.
“These claims are baseless and we will vigorously defend ourselves,” GM said in a statement on its website. The Detroit-based company said its diesel Chevrolet Silverado and GMC Sierra pickups comply with all U.S. Environmental Protection Agency and California Air Resources Board emissions regulations.
The Trump Organization Says It’s ‘Not Practical’ to Comply With the Emoluments Clause
May 25th, 2017Via: The Atlantic:
Days before taking office, Donald Trump said his company would donate all profits from foreign governments to the U.S. Treasury, part of an effort to avoid even the appearance of a conflict with the Constitution’s emoluments clause.
Now, however, the Trump Organization is telling Congress that determining exactly how much of its profits come from foreign governments is simply more trouble than it’s worth.
In response to a document request from the House Oversight Committee, Trump’s company sent a copy of an eight-page pamphlet detailing how it plans to track payments it receives from foreign governments at the firm’s many hotels, golf courses, and restaurants across the globe. But while the Trump Organization said it would set aside all money it collects from customers that identify themselves as representing a foreign government, it would not undertake a more intensive effort to determine if a payment would violate the Constitution’s prohibition on public office holders accepting an “emolument” from a foreign state.
…
In a statement accompanying his letter, Cummings said the president had two options if his company could not adequately track payments from foreign governments. One would be to do what Democrats and independent ethics officials have long urged: fully divest from his businesses. Short of that, Trump could submit a proposal to Congress asking for its consent to a different arrangement.
The president has given no indication he intends to do so, and his attorneys have described his decision to donate foreign government profits to the Treasury as voluntary, since they argue the president is not subject to the emoluments clause of other conflicts-of-interest laws governing most federal employees. Ethics experts in both parties, however, have disagreed with that interpretation. “Rep. Cummings is right,” tweeted Noah Bookbinder, the executive director of the Citizens for Responsibility and Ethics in Washington. “This is a wholly inadequate response to the president’s constitutional violations.”


