WEBVTT - Tech News: Apple Shares Its (Very Expensive) Vision 0:00:04.440 --> 0:00:12.360 Welcome to tech Stuff, a production from iHeartRadio. Hey there, 0:00:12.400 --> 0:00:15.880 and welcome to tech Stuff. I'm your host, Jonathan Strickland. 0:00:15.960 --> 0:00:19.479 I'm an executive producer with iHeartRadio. And how the tech 0:00:19.520 --> 0:00:22.560 are you. It's time for the tech news for Tuesday, 0:00:22.680 --> 0:00:26.560 June sixth, twenty twenty three. And I'm sure you've already 0:00:26.760 --> 0:00:31.160 heard all about it, but yesterday Apple finally unveiled one 0:00:31.160 --> 0:00:35.000 of the worst kept secrets in the industry, the company's 0:00:35.159 --> 0:00:39.800 mixed reality headset. Apple calls it the Vision Pro and 0:00:39.840 --> 0:00:42.879 that pro part should tip you off that the company's 0:00:42.880 --> 0:00:48.159 target audience is business users. Certainly, the three five hundred 0:00:48.200 --> 0:00:50.920 dollars price tag puts it out of the reach for 0:00:51.000 --> 0:00:54.280 most consumers, though I'm sure there will still be several 0:00:54.360 --> 0:00:57.320 tech enthusiasts who have deep pockets who are going to 0:00:57.400 --> 0:00:58.920 shell out the dough to be one of the first 0:00:58.920 --> 0:01:02.160 to own the headset. By the way, Business Insider reports 0:01:02.160 --> 0:01:05.960 that there was a collective grown in response to hearing 0:01:06.040 --> 0:01:10.560 that price tag during the Worldwide Developer Conference, or WWDC 0:01:10.760 --> 0:01:14.480 That's where this announcement happened. Apple ended up confirming a 0:01:14.680 --> 0:01:18.000 lot of rumors that had been circulating about this headset 0:01:18.040 --> 0:01:21.920 for months now. It is a pass through system that 0:01:22.040 --> 0:01:25.959 means the headset has an opaque screen, like it's a 0:01:26.000 --> 0:01:28.880 display that has a solid back to it, and it 0:01:29.000 --> 0:01:32.520 uses cameras to capture live video and then feed that 0:01:32.720 --> 0:01:35.800 to the display in front of the user's eyes, so 0:01:35.840 --> 0:01:39.000 you're not actually looking through the headset, you're looking at 0:01:39.520 --> 0:01:42.199 a live video feed on what's on the other side 0:01:42.200 --> 0:01:46.039 of the headset, now, the opposite side from your peepers, 0:01:46.480 --> 0:01:49.000 the part that other people can see. There is a 0:01:49.040 --> 0:01:52.840 display that looks kind of like you're wearing ski goggles 0:01:52.960 --> 0:01:56.160 on top of a headset, and this display can show 0:01:56.400 --> 0:01:59.080 your eyes to people who are looking at you, or 0:01:59.120 --> 0:02:02.480 rather an image of your eyes, so it doesn't look 0:02:02.520 --> 0:02:04.760 like you just have a screen strapped to your face, 0:02:04.800 --> 0:02:08.040 even though that's exactly what you do have personally. The 0:02:08.120 --> 0:02:11.960 video demonstration I saw made it look kind of creepy, 0:02:12.120 --> 0:02:15.920 kind of like Uncanny Valley ish, but that could just 0:02:15.960 --> 0:02:19.560 be me. The system works with gesture controls. I think 0:02:19.600 --> 0:02:23.840 these controls actually look really impressive. Like Apple's great at 0:02:23.840 --> 0:02:26.760 things like user interfaces and gesture controls. One of their 0:02:26.800 --> 0:02:30.920 strongest suits, I would argue is in their user interfaces, 0:02:31.400 --> 0:02:34.080 and this seems to be no exception. I thought that 0:02:34.200 --> 0:02:38.720 the gestures looked really compelling, like it was really cool 0:02:38.760 --> 0:02:41.960 how you could navigate through the system, So I like 0:02:42.000 --> 0:02:45.280 the interface as presented in Tim Cook's keynote. I still 0:02:45.320 --> 0:02:49.880 don't think the technology really has the applicability for mainstream 0:02:49.919 --> 0:02:53.880 audiences or even for most businesses. I don't think it 0:02:53.919 --> 0:02:57.880 has enough utility to warrant being an actual thing yet, 0:02:58.320 --> 0:03:01.320 but that could be a Chicken and the Egg sort 0:03:01.320 --> 0:03:04.119 of problem. And by that I mean until we see 0:03:04.160 --> 0:03:07.600 some really amazing features, you know, like killer apps that 0:03:07.639 --> 0:03:10.760 are designed for the hardware, we can't fully grasp how 0:03:10.880 --> 0:03:14.600 useful that hardware will be. But then unless there's a 0:03:14.760 --> 0:03:18.560 good amount of support for the hardware and demand for 0:03:18.600 --> 0:03:22.720 the hardware, well there'll be very little incentive for developers 0:03:22.720 --> 0:03:25.880 to make those killer apps in the first place. I 0:03:25.880 --> 0:03:30.480 think Apple's tech looks really impressive, limited in use, but 0:03:30.560 --> 0:03:32.400 also price to a point where it will be a 0:03:32.440 --> 0:03:36.800 real challenge to make it a success. And obviously this 0:03:36.840 --> 0:03:39.520 is a big step down from what Tim Cook had 0:03:39.840 --> 0:03:43.560 hoped for initially, namely a technology that would fit in 0:03:43.600 --> 0:03:46.880 the form factor of a normal pair of eyeglasses that 0:03:46.960 --> 0:03:50.920 actually have transparent lenses in them. But maybe this is 0:03:51.080 --> 0:03:53.840 just a case of having to learn to crawl before 0:03:53.880 --> 0:03:56.640 we can learn to walk, or run or even fly. 0:03:57.360 --> 0:04:00.360 I'm very curious about whether this product is going to 0:04:00.440 --> 0:04:03.880 end up being a foundational cornerstone of Apple's business in 0:04:03.920 --> 0:04:07.000 the future. I have my doubts, but I would love 0:04:07.040 --> 0:04:10.800 to be proven wrong, because despite all my skepticism, I 0:04:10.840 --> 0:04:14.800 really think augmented reality is super cool and potentially it's 0:04:14.840 --> 0:04:19.200 a game changer for lots of different applications. Also, the 0:04:19.240 --> 0:04:22.920 headset is technically capable of VR, but Apple kind of 0:04:23.040 --> 0:04:27.320 ignored that in the presentation. From what I understand, representatives 0:04:27.360 --> 0:04:31.600 were adamant about not talking about virtual reality at all. 0:04:31.640 --> 0:04:35.440 It was pretty much all augmented reality or AR all 0:04:35.480 --> 0:04:39.320 the time. Perhaps this was to highlight the pro stuff 0:04:39.839 --> 0:04:42.440 even more because I think VR typically gets put into 0:04:42.480 --> 0:04:46.239 a bucket that is associated with gaming, even though VR 0:04:46.279 --> 0:04:48.520 can be more than just gaming, it's just that's what 0:04:48.560 --> 0:04:53.040 it's primarily associated with. Anyway, if you've got three thousand, 0:04:53.200 --> 0:04:57.200 four hundred ninety nine American dollars burning a hole in 0:04:57.240 --> 0:05:00.800 your pocket, you can unburden yourself a that cash. In 0:05:00.920 --> 0:05:04.839 early twenty twenty four to get a pair of the suckers. 0:05:05.279 --> 0:05:07.880 I should add that the Vision Pro was really just 0:05:08.120 --> 0:05:14.320 a one more thing moment at the WWDC, which harkens 0:05:14.360 --> 0:05:16.719 back to how Steve Jobs would drop a bombshell of 0:05:16.720 --> 0:05:19.800 an announcement at the end of lots of other announcements. 0:05:20.160 --> 0:05:22.720 So that means that Apple also unveiled tons of other 0:05:22.760 --> 0:05:27.080 stuff besides this mixed reality or if you prefer, augmented 0:05:27.120 --> 0:05:31.640 reality headset. So that includes a new fifteen inch MacBook 0:05:31.680 --> 0:05:34.480 air which will be available starting next week. You can 0:05:34.520 --> 0:05:38.320 preorder it now for one two hundred and ninety nine dollars. 0:05:38.800 --> 0:05:41.160 This would be the largest screen yet for the MacBook 0:05:41.240 --> 0:05:45.120 air Line. The next generation of Mac Pro and the 0:05:45.200 --> 0:05:49.360 Mac Studio computers will get Apple's latest M two Ultra 0:05:49.520 --> 0:05:54.520 microprocessor that boosts the power of those two computers considerably. 0:05:55.400 --> 0:05:58.960 The price tag on those really drive home the increase 0:05:59.000 --> 0:06:02.720 in power, so Mac Studio comes in at a starting 0:06:02.760 --> 0:06:05.680 price of two thousand dollars. That's the starting price for 0:06:05.720 --> 0:06:09.000 the base model. If you're talking about the Mac Pro, well, 0:06:09.160 --> 0:06:14.320 that starts at seven grand. Yowza. Apple also unveiled new 0:06:14.360 --> 0:06:18.840 features for iOS seventeen, including a standby mode, so if 0:06:18.880 --> 0:06:21.599 you are charging your iPhone and you have it mounted 0:06:21.760 --> 0:06:24.479 so it's horizontal. It can act as a kind of 0:06:24.520 --> 0:06:29.640 smart display if you want. Apple also showed off widgets. Hey, 0:06:30.160 --> 0:06:33.400 y'all remember widgets, Like widgets were a big thing like 0:06:33.640 --> 0:06:37.960 fifteen years ago. Well they're back, baby, just like POGs 0:06:38.440 --> 0:06:42.080 out's back in pog form. Well they're on pretty much 0:06:43.080 --> 0:06:46.440 everything now. Widgets are like Apple showed off widgets all 0:06:46.480 --> 0:06:50.400 over the ding dang darn place, including the Apple Watch. 0:06:50.880 --> 0:06:53.200 And there were a lot more announcements, but it gets 0:06:53.200 --> 0:06:55.640 into some pretty nitty gritty stuff with Apple, and I've 0:06:55.680 --> 0:06:58.000 got a lot more news to cover, so I'm just 0:06:58.040 --> 0:07:00.960 gonna leave that for now, and people who are really 0:07:01.160 --> 0:07:04.760 really into Apple can look into it further. There are 0:07:04.800 --> 0:07:08.200 no shortage of articles out there about all the announcements 0:07:08.240 --> 0:07:14.120 at WWDC. Moderators at stack overflow, which is a software 0:07:14.240 --> 0:07:17.600 developer forum, are on strike, at least some of them 0:07:17.600 --> 0:07:22.480 are now. First of all, these moderators are volunteers, so 0:07:22.600 --> 0:07:25.400 it's not like they are paid to be moderators of 0:07:25.440 --> 0:07:29.800 this forum. They're upset due to a change in forum 0:07:29.960 --> 0:07:35.720 policy dictated by stack Exchange, which is organization that owns 0:07:36.160 --> 0:07:40.040 stack Overflow and the moderators have been told that they 0:07:40.040 --> 0:07:43.400 are not allowed to moderate AI generated content just for 0:07:43.480 --> 0:07:48.560 being AI generated. So moderators have been arguing that generative 0:07:48.600 --> 0:07:53.480 AI is untrustworthy, that it can present incorrect information but 0:07:53.680 --> 0:07:55.880 do so in a way where it's acted as if 0:07:55.880 --> 0:08:01.120 it's factual and reliable info, and that generative responses could 0:08:01.120 --> 0:08:05.840 potentially include hallucinations just made up stuff. And that is 0:08:05.960 --> 0:08:09.600 true as we've seen. Generative AI attempts to construct relevant 0:08:09.640 --> 0:08:14.200 answers to queries, but can on occasion just make stuff 0:08:14.320 --> 0:08:18.960 up if it lacks relevant information to use in its place. Plus, 0:08:19.440 --> 0:08:23.000 as moderators have pointed out, it can also engage in plagiarism. 0:08:23.040 --> 0:08:26.800 It can present work that others have created without giving 0:08:26.800 --> 0:08:29.880 proper credit, which is a big no. Note. The moderators 0:08:29.880 --> 0:08:33.679 are also concerned that the policy will mean that the 0:08:33.840 --> 0:08:38.080 value of information across the forums will go into decline, 0:08:38.640 --> 0:08:41.680 that there won't be guardrails place to prevent misinformation and 0:08:41.760 --> 0:08:45.960 mistakes from proliferating across the forums that in turn could 0:08:46.000 --> 0:08:48.679 help developers as they try to create the next generation 0:08:48.760 --> 0:08:52.360 of apps and software. So the moderators also have said 0:08:52.360 --> 0:08:55.240 that this change in policy was communicated one way in 0:08:55.360 --> 0:08:59.400 private to the moderators themselves, but in a totally different 0:08:59.440 --> 0:09:02.880 way when it was communicated to the public at large 0:09:02.960 --> 0:09:06.040 within the forums, and they say that this is a 0:09:06.200 --> 0:09:11.880 problem with transparency within the organization. Stack Overflow says that 0:09:12.040 --> 0:09:15.680 only slightly more than ten percent of moderators have refused 0:09:15.720 --> 0:09:19.360 to work as part of this strike. And further, the 0:09:19.440 --> 0:09:23.800 change in policy wasn't due to misplaced trust in AI. 0:09:23.920 --> 0:09:27.920 It's not to say, oh no, we totally trust AI 0:09:28.040 --> 0:09:30.480 to give the right answers. Instead, it was more an 0:09:30.480 --> 0:09:36.079 indication that stack overflows AI detection duel is not very good, 0:09:36.640 --> 0:09:40.600 that their detection duel creates a lot of false positives, 0:09:40.640 --> 0:09:44.800 meaning it will flag posts that were actually written by 0:09:44.800 --> 0:09:48.920 a real human being as being AI generated. So, in 0:09:48.960 --> 0:09:52.120 other words, the concern is that moderators could end up 0:09:52.320 --> 0:09:55.640 removing posts that were written by people simply because a 0:09:55.720 --> 0:10:00.120 faulty tool said it had been created by AI. And 0:10:00.480 --> 0:10:03.280 this just creates a very complicated problem. We see here 0:10:03.559 --> 0:10:06.280 that the moderators have a good point, right, you don't 0:10:06.320 --> 0:10:10.320 want misinformation to spread across your forums and to make 0:10:10.360 --> 0:10:13.360 life more difficult for developers. On the flip side, you 0:10:13.400 --> 0:10:18.320 don't want to start striking content off the forums because 0:10:18.360 --> 0:10:20.400 a tool told you it was made by AI, when 0:10:20.400 --> 0:10:23.880 in fact it was created by people. So yeah, complicated 0:10:24.000 --> 0:10:26.400 issue here. Okay, we're going to take a quick break. 0:10:26.400 --> 0:10:28.760 When we come back, we've got some more tech news 0:10:28.800 --> 0:10:42.160 to talk about. We're back. So this week marks the 0:10:42.320 --> 0:10:48.040 first week for Linda Yakarino as Twitter's new CEO. Elon 0:10:48.160 --> 0:10:51.640 Musk has relinquished control. I mean, he's staying on at 0:10:51.640 --> 0:10:55.960 Twitter in various capacities, So maybe it's a bit grandiose 0:10:55.960 --> 0:10:58.600 for me to say he's relinquished control, but he's at 0:10:58.679 --> 0:11:03.280 least stepped back from the chief leadership position at the company, 0:11:03.679 --> 0:11:06.280 and it is also a notable step in Twitter's journey 0:11:06.320 --> 0:11:10.360 toward trying to re establish confidence with advertisers and users. 0:11:10.800 --> 0:11:16.480 Musk also intends for Twitter to transform into an everything app, 0:11:16.880 --> 0:11:22.200 something that encompasses everything from communication to commerce and beyond, 0:11:22.840 --> 0:11:24.600 and this is something he's talked about a lot in 0:11:24.600 --> 0:11:26.680 the past, So he says that's part of Linda's job 0:11:26.720 --> 0:11:30.640 is to kind of guide Twitter through this transition, which 0:11:30.720 --> 0:11:34.080 maybe that'll still happen, but I feel like it's going 0:11:34.160 --> 0:11:37.160 to take an awful lot of work to repair Twitter's 0:11:37.240 --> 0:11:42.240 image to make that a successful app. It is very 0:11:42.240 --> 0:11:45.920 hard to be a successful app if you have alienated 0:11:46.480 --> 0:11:50.360 a ton of the user base and corporate partners. Right, 0:11:50.480 --> 0:11:53.760 there's a lot of bad blood between Twitter and tons 0:11:53.800 --> 0:11:58.640 of different other entities. So this is a pretty tall 0:11:59.640 --> 0:12:03.840 mountain to climb. So hopefully Linda Yakarina will be able 0:12:03.840 --> 0:12:06.600 to do this. I actually I wish her all the best. 0:12:06.640 --> 0:12:09.520 I hope Musk isn't too involved in day to day decisions. 0:12:10.040 --> 0:12:12.800 I also assume Tesla stockholders are hoping for that as well. 0:12:12.840 --> 0:12:16.040 They've long been complaining that Elon Musk has spent way 0:12:16.040 --> 0:12:18.440 too much of his time and energy on Twitter at 0:12:18.440 --> 0:12:24.040 the expense of Tesla. So let us be cautiously optimistic 0:12:24.120 --> 0:12:26.680 that things will change for the better, and we'll just 0:12:26.720 --> 0:12:30.319 have to keep eyes on it in the meantime. Last 0:12:30.320 --> 0:12:33.200 week I mentioned that a developer who created a third 0:12:33.240 --> 0:12:35.240 party Reddit app said he was going to have to 0:12:35.280 --> 0:12:38.440 shut down the app due to reddits change with its 0:12:38.480 --> 0:12:43.360 policy for its API or application programming interface. So Reddit 0:12:43.600 --> 0:12:48.080 is going to charge developers for requests that are made 0:12:48.160 --> 0:12:51.080 to the Reddit platform. And by that I mean the 0:12:51.160 --> 0:12:55.480 more frequently an app references Reddit, and the more people 0:12:55.520 --> 0:12:59.000 who are using the app, the more expensive it will 0:12:59.000 --> 0:13:02.080 be for them to to maintain that relationship. The developers 0:13:02.120 --> 0:13:07.720 will be made held responsible for paying a bill. Essentially, 0:13:08.679 --> 0:13:13.000 Reddits Tim Rathschmidt said the reason for this decision is 0:13:13.000 --> 0:13:15.280 that the company has to spend millions of dollars in 0:13:15.360 --> 0:13:19.720 hosting fees, and that means that the more people use 0:13:19.840 --> 0:13:23.800 the platform, the more expensive it is to run the platform, 0:13:24.440 --> 0:13:28.600 and that these third party apps can drive up that 0:13:29.280 --> 0:13:34.199 usage quite a bit, and thus Reddit needs to offset 0:13:34.240 --> 0:13:39.520 the costs by billing the app developers. If the apps 0:13:39.520 --> 0:13:42.040 weren't so dang popular, it wouldn't be as expensive for 0:13:42.080 --> 0:13:45.240 Reddit to be Reddit, but because of the increase in activity, 0:13:45.280 --> 0:13:48.679 Reddit needs to charge developers to recoup costs. That's essentially 0:13:48.760 --> 0:13:52.280 the argument that Reddit is making. That explanation hasn't really 0:13:52.320 --> 0:13:55.280 satisfied a lot of Reddit users, though, and several subreddits 0:13:55.280 --> 0:13:57.360 are playing to go dark for a couple of days 0:13:57.400 --> 0:14:01.320 this month to raise awareness and prote the change in policy. 0:14:01.840 --> 0:14:04.400 And again, this comes down to a pretty complicated matter. 0:14:04.679 --> 0:14:08.400 Reddit is not a not for profit organization. It's trying 0:14:08.440 --> 0:14:11.200 to generate revenue. It's a business, and it does have 0:14:11.240 --> 0:14:13.680 to pay hosting fees and if apps are driving those 0:14:13.720 --> 0:14:16.079 fees up, the money to pay for those fees has 0:14:16.120 --> 0:14:20.240 to come from somewhere. On the other hand, really useful 0:14:20.280 --> 0:14:23.520 apps may not have a way to generate enough revenue 0:14:23.880 --> 0:14:28.080 to pay what Reddit is demanding, So if they can't 0:14:28.440 --> 0:14:32.320 raise the money to pay those fees and be a 0:14:32.360 --> 0:14:35.640 coherent business on their own, they have to fold. It 0:14:35.680 --> 0:14:38.320 may be that the app is incredibly useful, but it's 0:14:38.440 --> 0:14:42.120 not necessarily a big revenue generator, and thus it'll just 0:14:42.160 --> 0:14:45.720 go away. That can ultimately lead to a situation where 0:14:45.880 --> 0:14:49.480 users have no options other than the official Reddit app 0:14:49.880 --> 0:14:53.960 to access Reddit, and then you get into a situation 0:14:54.040 --> 0:14:57.320 where you're looking at non competitive practices and a potential 0:14:57.320 --> 0:15:02.160 monopoly which would get Reddit in trouble with regulators. So again, 0:15:02.280 --> 0:15:05.640 it's super complicated, and I can't pretend to have the 0:15:05.680 --> 0:15:09.960 answers here. I don't have a solution that would solve 0:15:10.280 --> 0:15:15.720 all of these issues across the board. Now it's crypto time. Gosh, 0:15:15.760 --> 0:15:17.280 it feels like it's been a while since I've had 0:15:17.280 --> 0:15:20.880 a bunch of cryptocurrency related stories. Once the fallout from 0:15:21.080 --> 0:15:23.960 FTX collapsing kind of settled, things went a little quiet, 0:15:24.000 --> 0:15:26.640 but we are off to the races again. So first up, 0:15:26.960 --> 0:15:31.040 the United States Securities Exchange Commission or SEC has filed 0:15:31.080 --> 0:15:35.440 more than a dozen charges against Binance, the world's largest 0:15:35.480 --> 0:15:42.240 crypto exchange, and its founder, Chong pen Jao akacz So. 0:15:42.400 --> 0:15:45.800 Among those charges are that Binance has operated as an 0:15:45.880 --> 0:15:49.720 unlicensed securities exchange and also that the company has co 0:15:49.880 --> 0:15:54.400 mingled customer funds with the company's own funds. That's not 0:15:54.480 --> 0:15:57.200 that different from what was going on over at FTX 0:15:57.240 --> 0:16:00.680 before it collapsed. By the way, there are also accusations 0:16:00.680 --> 0:16:06.040 that Binance has used its US subsidiary, Aabinance dot Us 0:16:06.600 --> 0:16:09.800 as a kind of smoke screen, that Binance dot Us 0:16:10.040 --> 0:16:14.240 was created to make an illusion of obeying the law, 0:16:14.720 --> 0:16:18.720 but then the larger international Binance was operating outside of 0:16:18.760 --> 0:16:21.160 the law and was actually pulling all the strings. All 0:16:21.160 --> 0:16:24.880 the transactions were really happening at this higher layer where 0:16:24.920 --> 0:16:27.280 it's the wild West. Actually I would say it's not 0:16:27.280 --> 0:16:29.160 even the wild West, because even in the wild West 0:16:29.240 --> 0:16:33.440 you still had laws. Anyway, these charges appeared to be 0:16:33.480 --> 0:16:37.880 supported by the testimony of two previous CEOs for Binance 0:16:37.920 --> 0:16:42.440 dot Us. That's not good. These two CEOs, who were 0:16:42.480 --> 0:16:47.480 not named but were former CEOs of the company said 0:16:47.560 --> 0:16:49.920 it became pretty clear that they were a little more 0:16:49.960 --> 0:16:52.520 than window dressing and that CZ was really the guy 0:16:52.640 --> 0:16:55.880 calling the shots, or, as one of the two unnamed 0:16:55.960 --> 0:16:59.960 CEOs apparently said, quote, I'm not actually the one right 0:17:00.280 --> 0:17:03.080 this company and the mission that I believe I signed 0:17:03.160 --> 0:17:05.600 up for isn't the mission And as soon as I 0:17:05.640 --> 0:17:09.080 realize that I left end quote. Seems to be a 0:17:09.080 --> 0:17:11.560 pretty big blow to Binance's claims that everything is on 0:17:11.600 --> 0:17:14.640 the up and up. CZ for his part, denies all 0:17:14.640 --> 0:17:18.360 these charges. He says they are meritless, that Binance operates 0:17:18.400 --> 0:17:21.040 within the boundaries of the law and has been cooperative 0:17:21.080 --> 0:17:24.080 with the SEC, and that there's nothing to see here. 0:17:25.600 --> 0:17:30.000 We'll see about that. This also has not satisfied some investors, 0:17:30.040 --> 0:17:33.440 who understandably are a little bit concerned about the whole thing, 0:17:33.480 --> 0:17:37.439 particularly after the drama that was ftx's collapse and the 0:17:37.440 --> 0:17:40.480 collapse of several other crypto related companies in the past year. 0:17:41.119 --> 0:17:46.160 Reuter's reports that since the SEC filed those charges, investors 0:17:46.200 --> 0:17:49.720 have pulled nearly eight hundred million dollars of assets from 0:17:49.760 --> 0:17:52.600 the crypto exchange. Now that's not to say that money 0:17:52.680 --> 0:17:55.879 isn't also flowing in. It is. It's just that, at 0:17:55.960 --> 0:17:59.360 least for some cryptocurrencies, more money is going out than 0:17:59.440 --> 0:18:02.840 is coming in. So, namely, in Ethereum, seven hundred and 0:18:02.880 --> 0:18:07.640 seventy eight point six million dollars have left the exchange 0:18:08.280 --> 0:18:11.560 in a net loss. So eight hundred and seventy one 0:18:11.640 --> 0:18:15.840 million in ethereum entered Binance, but more than one point 0:18:15.920 --> 0:18:20.200 six billion in ethereum left it. Now, it's too early 0:18:20.240 --> 0:18:23.280 to say what the long term effects, if any, the 0:18:23.320 --> 0:18:26.840 SEC's charges are going to have to Binance. It may 0:18:27.000 --> 0:18:29.879 just be another little roadbump for Binance. It could be 0:18:29.960 --> 0:18:33.960 something much more serious, which I know comes across as 0:18:33.960 --> 0:18:37.280 super wishy washy, but literally, I think it's too early 0:18:37.359 --> 0:18:40.400 to draw any conclusions. I'm not ready to say, oh, 0:18:40.440 --> 0:18:43.480 this is the beginning of the end, because it may 0:18:43.560 --> 0:18:46.560 not be. Binance has been through a lot and has 0:18:46.640 --> 0:18:49.359 stuck around, so whether or not this will just be 0:18:49.400 --> 0:18:54.159 another little footnote in its history remains to be seen. However, 0:18:54.200 --> 0:18:57.840 Binance is not the only crypto exchange in SEC's crosshairs. 0:18:58.400 --> 0:19:02.639 The agency also sued Coinbase this morning, accusing the company 0:19:02.640 --> 0:19:07.160 of behaving as an unregistered broker and exchange. SEC chair 0:19:07.440 --> 0:19:11.280 Gary Ginsler elaborated on this and pointed out that the 0:19:11.280 --> 0:19:14.879 New York Stock Exchange is not allowed to operate both 0:19:15.000 --> 0:19:19.040 as a stock exchange and also a hedge fund company, 0:19:19.400 --> 0:19:23.280 but that Coinbase combines a lot of services across different 0:19:23.320 --> 0:19:27.280 financial institutions that effectively means they're trying to be all 0:19:27.359 --> 0:19:30.679 things to all investors, despite the fact that regulations would 0:19:31.080 --> 0:19:33.840 say that that's not allowed. So the complaint says that 0:19:33.920 --> 0:19:39.119 Coinbase's core businesses break securities laws. Now, again, this is 0:19:39.160 --> 0:19:42.040 in the very early stages of a legal process, so 0:19:42.119 --> 0:19:44.600 it is too soon to predict how this is going 0:19:44.680 --> 0:19:49.320 to affect Coinbase in particular and the larger crypto community 0:19:49.400 --> 0:19:53.320 in general. It could be that the process forces Coinbase 0:19:53.400 --> 0:19:58.280 to fundamentally change how it operates, or also to pay 0:19:58.480 --> 0:20:02.560 a settlement perhaps a side Maybe it would go even 0:20:02.600 --> 0:20:05.480 more extreme, maybe Coinbase would be forced to shut down. 0:20:06.160 --> 0:20:09.239 Or it could pan out that Coinbase successfully argues it 0:20:09.240 --> 0:20:12.719 hasn't broken any laws at all. However, one thing that 0:20:12.840 --> 0:20:16.120 is clear is the struggle between regulators and the crypto 0:20:16.160 --> 0:20:20.080 community is going on strong. It's not going to stop 0:20:20.359 --> 0:20:25.800 anytime soon. Okay, I've got a couple of bizarre stories 0:20:26.160 --> 0:20:28.639 that I need to talk about. But before we get 0:20:28.680 --> 0:20:40.640 to those, let's take another quick break. Okay, y'all. I'm 0:20:40.680 --> 0:20:43.080 actually kind of reluctant to talk about these next couple 0:20:43.080 --> 0:20:47.280 of stories because I feel like it's very difficult to 0:20:47.359 --> 0:20:50.679 approach them in a way that is responsible. But at 0:20:50.720 --> 0:20:52.280 the same time, I feel like I have to or 0:20:52.320 --> 0:20:54.920 else people will ask me why I didn't talk about them. 0:20:54.960 --> 0:20:59.439 So first up, NASA held its first public meeting about 0:20:59.520 --> 0:21:05.480 unexploed anomalous phenomena or UAP. So once upon a time 0:21:05.800 --> 0:21:09.440 we would refer to this stuff as UFOs or unidentified 0:21:09.440 --> 0:21:15.399 flying objects. I actually prefer unexplained anomalous phenomena because, for 0:21:15.440 --> 0:21:19.480 one thing, not every UFO incident is actually involving an object. 0:21:19.960 --> 0:21:23.280 Sometimes it's not an object, it's an illusion, and an 0:21:23.320 --> 0:21:27.399 illusion is not a thing, so object is a misleading term. 0:21:27.760 --> 0:21:30.880 For another, not every incident actually involves something that's flying, 0:21:31.640 --> 0:21:35.760 so flying can be an inaccurate term. Some UAP ends 0:21:35.840 --> 0:21:41.879 up being just a really mundane situation that can be misinterpreted. 0:21:42.320 --> 0:21:45.760 So here's an example. There can be a pilot who's 0:21:45.800 --> 0:21:50.800 flying at night over the ocean on a particularly cloudy evening, 0:21:51.400 --> 0:21:54.600 and the clouds could obscure the pilot's view of the Moon, 0:21:54.960 --> 0:21:58.160 but the Moon's light might still hit the water at 0:21:58.160 --> 0:22:01.080 some distance and create a reflection. Now, the pilot can't 0:22:01.119 --> 0:22:03.800 see the Moon, but the pilot can see the reflection, 0:22:04.200 --> 0:22:06.439 and because it's dark, it might not be easy to 0:22:06.480 --> 0:22:08.719 tell that this is just a reflection on the surface 0:22:08.760 --> 0:22:11.119 of the water. It's just to the pilot it looks 0:22:11.119 --> 0:22:14.560 like a light off on the horizon. And next thing 0:22:14.560 --> 0:22:18.200 the pilot knows, this light seems to be traveling with them, 0:22:18.720 --> 0:22:21.480 and it seems to maneuver in strange ways as the 0:22:21.520 --> 0:22:26.560 pilot moves course. But in fact there's nothing flying at all, 0:22:26.880 --> 0:22:30.280 unless you count the Moon. I don't the moon already 0:22:30.280 --> 0:22:34.080 thinks it's so big? Yeah, I see you, Moon, not 0:22:34.080 --> 0:22:38.040 getting any props from me anyway. According to the report 0:22:38.240 --> 0:22:41.879 that NASA gave at this meeting, all but two to 0:22:42.040 --> 0:22:47.960 five percent of the hundreds of UAP reports are something 0:22:48.000 --> 0:22:51.280 that we could easily explain, right, All but two to 0:22:51.280 --> 0:22:55.600 five percent of those those remaining incidents quote display signatures 0:22:55.600 --> 0:22:59.120 that could be anomalous end too quote. Now, of course 0:22:59.119 --> 0:23:03.280 that doesn't mean anything, right. They could be anomalist or 0:23:03.320 --> 0:23:07.439 they could be totally normal. And mundane. We lack the 0:23:07.560 --> 0:23:12.560 information to be able to make a judgment. So saying 0:23:12.560 --> 0:23:14.680 that we don't have enough information isn't the same as 0:23:14.680 --> 0:23:19.240 saying there's stuff out there that defies explanation and must 0:23:19.280 --> 0:23:22.080 be non terrestrial or at least non human in origin. 0:23:22.560 --> 0:23:26.080 I'm sure some people are frustrated that NASA didn't go 0:23:26.160 --> 0:23:28.320 so far as to say, I don't know, maybe it's aliens, 0:23:29.000 --> 0:23:32.600 but to go that far would require extraordinary proof. Now 0:23:33.080 --> 0:23:34.840 there's another story that I feel I have to tell 0:23:34.880 --> 0:23:38.760 that ties into this kind of concept as well, and 0:23:38.800 --> 0:23:41.560 it's because it's getting a lot of circulation as I'm 0:23:41.600 --> 0:23:46.680 recording this episode. So The Debrief published a very long 0:23:46.800 --> 0:23:51.439 article by Leslie Keene and Ralph Blumenthal this week that 0:23:51.680 --> 0:23:58.800 details claims from a person they name as David Charles Grush, who, 0:23:59.080 --> 0:24:02.400 according to the article, is a former Department of Defense operative. 0:24:02.840 --> 0:24:05.680 He worked for the Department of Defense in various capacities 0:24:06.119 --> 0:24:08.600 and has said that the United States has in its 0:24:08.680 --> 0:24:13.920 possession intact vehicles and parts of vehicles of quote unquote 0:24:14.040 --> 0:24:19.280 exotic origin, meaning created by non human intelligence. That is 0:24:19.359 --> 0:24:23.600 obviously a truly extraordinary claim, and the report, like I said, 0:24:23.640 --> 0:24:27.560 it's spreading like wildfire. As I record this episode, everyone 0:24:27.600 --> 0:24:31.600 seems to just be referencing this one article, Like, I 0:24:31.640 --> 0:24:37.880 haven't seen any investigative journalism that went to verify this article. 0:24:38.160 --> 0:24:40.800 They're just kind of using the article as the foundation 0:24:41.000 --> 0:24:43.959 and then repeating claims that were made in it. So 0:24:44.280 --> 0:24:48.000 I want to raise a couple of red flags. None 0:24:48.040 --> 0:24:52.159 of this is to say that the article is inherently untrustworthy. 0:24:52.240 --> 0:24:55.960 It's just stuff that makes me a little skeptical. So, 0:24:56.080 --> 0:24:59.639 first off, the authors of this article, Leslie Keane and 0:24:59.720 --> 0:25:03.280 Ralph Blumenthal, they are both notable journalists, all right, They 0:25:03.280 --> 0:25:08.320 have long careers in journalism, distinguished careers. However, they are 0:25:08.400 --> 0:25:11.879 also both published authors who have written books in the 0:25:12.040 --> 0:25:17.359 UFO and aliens space. So that raises some red flags 0:25:17.359 --> 0:25:20.480 for me immediately. I don't know if that means they 0:25:20.480 --> 0:25:25.919 are predisposed to believing extraordinary claims that involve things like 0:25:26.320 --> 0:25:30.760 UFOs or UAPs, but it does concern me because they've 0:25:30.840 --> 0:25:35.000 already been writing about this stuff for a while and 0:25:36.440 --> 0:25:40.760 these claims never seem to ever produce anything, right. We 0:25:40.840 --> 0:25:44.960 hear about them occasionally, but we never actually see anything produced. Secondly, 0:25:45.640 --> 0:25:49.440