A library of snippets
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A successful hack on a Meta contractor has led to a data leak of 200,000 Facebook Marketplace user data on a hacking forum, Bleeping Computer reports. Numerous pieces of personally identifiable information (PII), such as names, phone numbers, email addresses, Facebook IDs, and profile details, are said to be contained in the compromised database.
From: Facebook Marketplace Records Leaked, 200,000 User Data Now in a Hacking Forum.
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As concerns arise regarding the effects of social media usage on children’s mental health, state legislators are introducing measures to protect children while using the internet and internet-based forms of communication, including social media.
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In 2015 the European Union capped credit-card interchange fees at 0.3%. Research by the European Commission estimates that 70% or so of the reduction has been passed on to consumers in the form of lower prices.
From: What Donald Trump and Bernie Sanders get wrong about credit cards.
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Sumit Agarwal of the National University of Singapore, Andrea Presbitero of the imf, and André Silva and Carlo Wix of the Federal Reserve find that American credit-card-reward programmes redistribute around $15bn a year from “naive” to “sophisticated” consumers.
From: What Donald Trump and Bernie Sanders get wrong about credit cards.
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Like most price controls, capping interest rates would distort the market and hurt ordinary punters. Card issuers would probably respond by locking out less reliable borrowers, not by offering cheaper rates. Worse still, Messrs Trump and Sanders are looking past genuine problems with American credit cards. That may be because the problems stem from something stupendously popular: ultra-generous rewards.
From: What Donald Trump and Bernie Sanders get wrong about credit cards.
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Schmidt’s comments come after the tragic suicide of 14-year-old Sewell Setzer III, who had been engaging in a kind of relationship with an AI chatbot that demanded he remain faithful to it and not “entertain the romantic or sexual interests of other women”.
His mother is now suing the company behind it, alleging it went to great lengths to engineer a harmful dependency on its product, emotionally abused Setzer, and failed to notify anyone when he expressed suicidal thoughts.
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Speaking on a podcast hosted by Scott Galloway this week, Schmidt said he feared AI could soon be capable of providing the emotionally ideal girlfriend to despondent young males struggling to attract a mate.
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Fraud’s impact goes beyond the payments sector – 41% of victims report a loss of trust in social media companies, four times as many as those who lost trust in traditional banks.
From: PSR says APP reimbursement rules are promoting vigilance, not complacency.
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between 2015 and 2023. In the period, US retail sales increased from $4.7trn to $7.2trn3, the credit card interchange paid by retailers trebled4 and the proportion of credit card interchange in retail sales almost doubled from 0.46% to 0.87%.
From: The Only Way is Down – by Jeremy Light – Agenda: Payments.
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“Identity is the new Money”. Brilliant – I wish I’d said that
From: “Identity is the new Money”. Brilliant – I wish I’d said that – Consult Hyperion.
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Snippings