September 22, 2024

🌶️ Hot Fudge Sunday for 2024-09-22

This week's edition dives into market insights, AI funding, and Google's new passkey management!

Welcome to the latest Hot Fudge Daily. Each day of the week you get thematic value.

• 🌶️ Spicy Edition Sunday FREE (Hot Fudge Sunday weekly newsletter captures the best of Hot Fudge Daily and the most clicked links for the week.)

• 📈 Markets Monday $ (Hot Fudge Daily: What is moving markets and why does it matter for the week ahead?)

• 🔥 Hot Takes Tuesday $ (Hot Fudge Daily: Get fast unfiltered thoughts on news of the day with just a dash of snark.)

• 🤪 Wacky Wednesday $ (Hot Fudge Daily: Catch up on the wild and wooly memes from a variety of deep web #random channels.)

• 🔙 Throwback Thursday $ (Hot Fudge Daily: Examine recent news in a thought provoking Shot and Chaser format.)

• ✅ Final Thoughts Friday $ (Hot Fudge Daily: A clear eyed look back on the week that was and could have been.)

• 🔮 Sneak Peak Saturday $ (Hot Fudge Daily: Steady and sober unpacking of the slow news day where muted press releases and disclosure stories try to get buried before the weekend takes all the attention.)

🙏 A big thank you to our sponsors. 🙏
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Hot Fudge Sunday 🤔 💡 🤯 🤓 is a free weekly newsletter containing a digest of the Hot Fudge Daily paid newsletter at hot.fudge.org in a single easy to reach URL. This free weekly edition is posted every… wait for it… Sunday.

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Hot Fudge Daily Digest

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📈 Markets Monday for 2024-09-16

Reading Recommendation

The data operations and RevOps market can be hard to keep up with and if you aren’t reading Finding Data Operations, you should be. As for why, the writer behind Finding Data Operations is Greg Meyer.

Quick Recap

As a Market Monday reminder and recap, what I try to do each week is look at the same key indicator that I take from a simple Yahoo Finance webpage. It’s not much but it’s how I look at things and this is what I saw today after the bell closed.

Previously, I decided on a view from Yahoo Finance. For example, this was a view of intraday in Technology which usually gets around a dozen or so interesting companies.

If you are using Yahoo Applied Filters for Stocks screener you can bookmark your own heat map view.

• % Change in Price (Intraday):greater than 4

• Region: United States

• Market Cap (Intraday): Mid Cap and Large Cap and Mega Cap

• Price (Intraday):greater than or equal 5

• Volume:greater than 15000

• Sector: Technology

• Industry: Software—Infrastructure and Information Technology Services and Computer Hardware and Software—Application and Communication Equipment and Electronics & Computer Distribution and Consumer Electronics and Electronic Components and Scientific & Technical Instruments and Semiconductor Equipment & Materials and Semiconductors

🔥 Hot Takes Tuesday for 2024-09-17

The numbers this week are once again big numbers.

These three stories caught my eye.

Techmeme: BlackRock, GIP, Microsoft, and MGX announce a new AI fund that seeks to raise $30B+ of private equity capital and $100B+ in total investment when including debt (Financial Times)

From Financial Times. View the full context on Techmeme.

💰 + 🤖 $100B+ is an interesting number (now that $30B+ has been raised within this AI specific fund) and it goes to show that even companies like Microsoft that could tap their cash reserves alone are facing funding crunch needs that require multiple parties. 🤔

Techmeme: Microsoft unveils a $60B stock buyback program, matching its largest-ever repurchase authorization, and raises its quarterly dividend by 10% to $0.83 per share (Andrew Pollack/Bloomberg)

By Andrew Pollack / Bloomberg. View the full context on Techmeme.

💰 + 🤑 Oh. Well. This is awkward. So, from a Microsoft perspective, AI is expensive… and so is a stock buyback program. Got it. Cool. Cool. 😳

Techmeme: A profile of Fei-Fei Li's World Labs, which aims to create “spatial intelligence” in AI and has raised $230M from a16z and others, reportedly at a $1B valuation (Steven Levy/Wired)

By Steven Levy / Wired. View the full context on Techmeme.

💰 + 🤖 Spatial is fascinating, and it reminded me of how spatially dumb our smart phones (still?) are today — I still have fond memories of Fei-Fei Li on stage at a conference many years ago where the Googler entourage in the first several rows had not yet figured out their new Android OS updates for silence settings and it was HILARIOUS hearing their devices all chirping, dinging, ringing, etc. as they frantically tried to turn them off or make them go silent (unsuccessfully). 😂

🤪 Wacky Wednesday for 2024-09-18

Each Wednesday I go through dozens of Slack communities.

I then select the most interesting shared links.

This will always be a safe for work list. 🙈

Massive Greenland tsunami shook Earth for nine days

Scientists launched an investigation after being baffled by seismic signals picked up across the world

What to Know About Moo Deng, the Internet’s Latest Obsession | TIME

A baby pygmy hippo in Thailand is the internet’s latest obsession. But her newfound fame has also sparked concerns for her safety.

Is My Blue Your Blue?

Test your color perception with this interactive test.

Jay Cuthrell on LinkedIn: #psa #privacy #optindefault #optout #ai #content #training | 12 comments

Just a quick #PSA... check your #privacy settings on LinkedIn. Things change. #optindefault #optout #ai #content #training 🤖☑️ (Link in the comments to check… | 12 comments on LinkedIn

🔙 Throwback Thursday for 2024-09-19

Have you visited the “Killed by Google” website before?

Google Graveyard - Killed by Google

Killed by Google is the open source list of dead Google products, services, and devices. It serves as a tribute and memorial of beloved services and products killed by Google.

The reason I ask in this ⬅️ Throwback Thursday is because Google is getting into the passkey management business with a new product.

Techmeme: Google announces Password Manager PIN to let users sync passkeys across Windows, macOS, Linux, and Android devices, with iOS support coming soon (Jess Weatherbed/The Verge)

By Jess Weatherbed / The Verge. View the full context on Techmeme.

I had so many thoughts about this that I decided to open my dictation and note summarization stack from Limitless AI. 🤓

Limitless isn’t perfect but it is helpful for turning 10 minutes of me talking extemporaneously while staring at Techmeme into a set of notes and observations. 🤓

I’ve hyperlinked where appropriate as Limitless doesn’t know (or isn’t supposed to know) what I’m looking at on screen while I’m talking. 🤓

Notes and Observations

• Google's Entry into Passkey and Password Manager Sector:

  • Google is entering the password manager and passkey sector, prompting a discussion about the longevity and trustworthiness of Google's products, given Google’s track record of discontinuing things.

  • The implications of Google managing passkeys were highlighted, given the potential for service shutdowns and the domain Google could have over users' security keys.

• Passkeys and the Rise of New Security Standards:

  • Passkeys represent a focus on combating phishing and simplifying user account management, especially as systems become more interconnected.

  • Key developments took place leading up to the formation of FIDO Alliance in February 2013.

  • Passkeys are a relatively new concept, with Microsoft and Apple showcasing demos of functionality for passkeys over the past few years. Outside of specific vendors, FIDO Alliance is working on open authentication standards to enhance security overall.

• Trust and Compatibility Concerns:

  • Discussion centered around which companies (e.g., Apple, Google) consumers should trust with their passkeys and whether these systems will allow for seamless migration of security information if necessary.

  • Google and Apple have been encouraging users to create passkeys, aiming to phase out traditional passwords.

• Potential Industry Shifts:

  • Google's moves could pose competitive challenges to Apple's ecosystem, which typically restricts passkeys to Apple devices.

  • Google's approach hints at broader compatibility across device manufacturers and operating systems, unlike Apple's more vertically integrated (closed) system.

• Questions About Product Longevity:

  • Google's past with product lifecycles raises questions about the long-term viability of their password management solutions.

  • Despite Google Chrome's continued success, other products have been polarizing or discontinued, leading to skepticism about the new password manager’s longevity.

Well, I do think that Limitless AI notes and observations make me sound very negative. 🤣 Actually, I think any products or services that moves us beyond usernames and written passwords on notes attached to computer screens or desks is a very good thing.

I went back and read my transcript and the color of my word choice probably favored a summary that reads heavily skewed towards words like “concern” and “skepticism” even if that is a reference to other perspectives that are not necessarily mine.

✅ Final Thoughts Friday for 2024-09-20

As of this update, AI Field Day 5 for Tech Field Day videos are posted and I am wrapping up publishing my delegate notes on Keysight, Integrail, Cisco, VMware, Elastic, Arista, and Enfabrica as well as a Delegate Ignite Talk series and Delegate Roundtable.

I would like to give a HUGE shout out to the team that makes Tech Field Day possible and to Futurum Group as well the sponsoring companies for making the event possible. 🙏 🙏 🙏

Once again, I am thankful for new and ongoing client work and catching up with past co-workers. Catching up on sleep from the travel means it is back to the gym and hiking in sensible shoes then digging into my non-technology projects.

The biggest stories this week were a mixed for me. On the one hand, I get that tech journalism has to earn their impressions and drive clicks. On the other hand, clicks from spicy headlines sometimes turn into reading just a few hundred words that do not support the headline. 🤷‍♂️

Techmeme: Amazon CEO Andy Jassy tells staff to return to the office five days per week from January 2, 2025, citing the importance of the policy to the company's culture (Annie Palmer/CNBC)

By Annie Palmer / CNBC. View the full context on Techmeme.

For context, I personally and professionally know 100s of people at AWS all over the planet. I was also on the AWS Partner Advisory Board during my time at IBM.

While I have no inside information, I can say that Return To Office (RTO) is a polarizing topic. However, I can also say that one of the Amazon leadership principles is…

Have Backbone; Disagree and Commit

Source: Leadership Principles

Techmeme: LinkedIn confirms it's training its AI models on user data by default, and says it is “making sure that those who have specific privacy preferences” can opt out (Joseph Cox/404 Media)

By Joseph Cox / 404 Media. View the full context on Techmeme.

I shared an update about this LinkedIn “setting” and a parting thought on the topic itself.

If you reading this in the United States — you can check your LinkedIn “setting” at this link:

https://www.linkedin.com/mypreferences/d/settings/data-for-ai-improvement

Techmeme: A US FTC report on the data practices of Meta, YouTube, TikTok, and six other companies finds “vast surveillance” of consumers to monetize their information (Cecilia Kang/New York Times)

By Cecilia Kang / New York Times. View the full context on Techmeme.

A report on a report lands as somewhat limited coverage…

So, now do one on credit cards too! 🤔

Techmeme: Constellation Energy plans to invest $1.6B to revive the Three Mile Island nuclear plant in Pennsylvania and sell all the output to Microsoft for data centers (Bloomberg)

From Bloomberg. View the full context on Techmeme.

Physical Power Purchasing Agreements (PPA) and financial virtual PPAs (vPPAs) are entering the wider lexicon. That’s a good thing.

When I think about data centers (which is a lot), it reminds me that builders and operators of data centers work with regional power providers to secure vPPAs or PPAs as well as ensure all uses of public lands for any new transmission lines, substations, and related infrastructure builds are reviewed with the relevant utilities commission to be consistent with regulatory requirements, attestation of environmental impact including WUE/PEU as well as noise abatement commitments, zoning laws, third-party supplier agreements, and any public-private partnerships that involve permitting, construction, and neighboring community outreach/communications/etc.

That’s a lot. As it should be too! Data centers operate on the scale of a small city using the power of hundreds of thousands of homes.

Once you read more deeply into the topics, there is a case to be made that releasing more carbon into the atmosphere or pushing the heat into the atmosphere is probably a “bad idea” ™️ in the range of bad to worse ideas. But, okay, let’s go with “nuclear bad” and make a zinger headline that conjures fears of people old enough to remember the 1960s, 1970s, 1980s, and 2010s.

I think this is Microsoft demonstrating leadership in sourcing energy with the technology that does not fall into a worse idea category. I also think more leadership like this example from Microsoft is needed.

I believe that small modular reactors (SMRs) will become more common. I also believe that the projects of power requirements based on trend lines for current technologies need future answers to arrive faster… but the market is moving right now.

Meanwhile AWS is reportedly going to go live with a 30 year (v)PPA… gee… I wonder what will fulfill that 30 year PPA? ☢️

Apple claims 32% of their (v)PPA supplied by… gee… I wonder what that might be? ☢️

Meta / Facebook may just end up BUILDING or BUYING their way into more power… gee… I wonder what source? ☢️

🔮 Sneak Peak Saturday for 2024-09-21

By Friday, everything seems to be reaching the peak of getting news turned in before a deadline or dread-line. It sometimes seems like we reach a fever pitch in news coverage throughout the week.

Peak 🏔️ vs. Peek 👀

Then there is a trope, cliché, or bromide about slow news days and the quietly mentioned news updates sent on a Friday — to try and sneak it past wider coverage. Or, in a nutshell, peak patronizing publishing.

In that spirit, here are a few stories that you might have missed on the slow news of a Friday.

Insert Let's See Who This Really Is Meme

Techmeme: Filing: the US SEC says it intends to seek sanctions against Elon Musk for failing to appear for scheduled testimony for a probe into his $44B Twitter takeover (Jonathan Stempel/Reuters)

By Jonathan Stempel / Reuters. View the full context on Techmeme.

Insert Ceiling Cat Meme

Techmeme: Memo: Disney plans to stop using Slack in most units by the end of 2024, after a hacking group leaked 1TB+ of its data, including 44M Slack messages, in July (Robbie Whelan/Wall Street Journal)

By Robbie Whelan / Wall Street Journal. View the full context on Techmeme.

Insert We're All Trying To Find The Guy Who Did This Meme

Techmeme: Singapore-based crypto exchange BingX suffered a security hack on its hot wallet, resulting in a “minor” loss; PeckShield: the loss was $43M in cryptocurrencies (Vishal Chawla/The Block)

By Vishal Chawla / The Block. View the full context on Techmeme.

Insert That Wasn't Me, That Was Patricia Meme

Techmeme: The judge overseeing the Google ad trial calls Google's testimony that it faces “fierce competition” from the likes of Microsoft and Meta “highly questionable” (Leah Nylen/Bloomberg)

By Leah Nylen / Bloomberg. View the full context on Techmeme.

Insert Anthony Adams Rubbing Hands Meme

Techmeme: Sources: Thrive Capital has already provided $1B+ to OpenAI as part of the $6.5B round; OpenAI's existing backers a16z and Sequoia Capital are not participating (George Hammond/Financial Times)

By George Hammond / Financial Times. View the full context on Techmeme.

Note: Images via Unsplash

Disclosure

I am linking to my disclosure.