Judge Rules California Law Requiring Women On Corporate Boards Is Unconstitutional

A Los Angeles judge has ruled that California’s landmark law requiring women on corporate boards is unconstitutional. CBS News reports: Superior Court Judge Maureen Duffy-Lewis said the law that would have required boards have up to three female directors by this year violated the right to equal treatment. The ruling was dated Friday. The conservative legal group Judicial Watch had challenged the law, claiming it was illegal to use taxpayer funds to enforce a law that violates the equal protection clause of the California Constitution by mandating a gender-based quota.

The state defended the law as constitutional saying it was necessary to reverse a culture of discrimination that favored men and was put in place only after other measures failed. The state also said the law didn’t create a quota because boards could add seats for female directors without stripping men of their positions. Although the law carried potential hefty penalties for failing to file an annual report or comply with the law, a chief in the secretary of state’s office acknowledged during the trial that it was toothless.

The law required publicly held companies headquartered in California to have one member who identifies as a woman on their boards of directors by the end of 2019. By January 2022, boards with five directors were required to have two women and boards with six or more members were required to have three women. The Women on Boards law, also known by its bill number, SB826, called for penalties ranging from $100,000 fines for failing to report board compositions to the California secretary of state’s office to $300,000 for multiple failures to have the required number of women board members. Fewer than half the nearly 650 applicable corporations in the state reported last year that they had complied. More than half didn’t file the required disclosure statement, according to the most recent report.

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Luna Cryptocurrency’s Collapse Led to Multi-Million-Dollar Exploits, Closure of a Crypto Money Market

The Record reports that the decentralized money market Venus Protocol “announced on Thursday evening about $11 million had been lost due to people exploiting the historic collapse of the Luna cryptocurrency and its sister stablecoin UST.”
Venus Protocol and several other platforms use Chainlink to provide its users with real-time price estimations of the tokens on its platform that are available for lending and borrowing. But the tool began having issues with Luna on Thursday as the price continued to fall precipitously. “As a result, it was possible to deposit UST and LUNA as collateral and borrow other tokens, with an underpriced collateral valuation….” decentralized finance researcher Vali Dyor explained.
Venus Protocol says they became “aware of errant price behavior for LUNA,” and “Upon investigation, it was learned that the price feed had been paused by Chainlink due to extreme market conditions.”

“The price on Venus was last listed at about $0.107 while the market price was $0.01. In order to de-risk this situation, the protocol was paused using PauseGuardian via multisig. Upon this desyncing event, it was discovered that 2 accounts had suspiciously deposited a sum of 230,000,000 LUNA valued at over $24,000,000. Assets were borrowed totalling around $13,500,000.”

Venus Protocol has a “Risk Fund” that will be used to cover the shortfall, the Record reports. But they added that Venus Protocol wasn’t the only one having problems:

As the price of Luna cratered overnight, exchanges and markets were forced to make difficult choices on how to approach the cryptocurrency. Binance stopped all trading of Luna and UST on its platform but the moves have done little to stop all cryptocurrency values from being depressed across the board.

DeFi platform Blizz Finance announced that it was attacked in the same way Venus Protocol was, but they did not release an estimate on the losses incurred. But they said the protocol was “drained” before it could stop the process.

And then Blizz Finance posted a post-mortem early Sunday morning:

Large amounts of LUNA were deposited and used to drain all available lendable assets… Prior to the incident the Chainlink team did attempt to notify us that the oracle would pause, however we did not receive the message in time. We were unaware of Chainlink’s minimum price circuit breaker. This behaviour is not mentioned anywhere within Chainlink’s documentation…

Blizz has no treasury or development fund and a significant portion of the stolen assets belonged to our team. As such we regret to announce the protocol has been paused and we do not intend to resume operations. We will be shutting down the front-end and closing official communication channels in the coming days….

We are very sorry for the losses incurred by our users. We thank the community for their support on this journey and deeply regret that this is how it came to an end.

They posted one additional detail on Twitter. “We are reaching out to a Chinese community who is believed to have doxxed individuals who participated in the attacks.”

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Twitter Turns Its Privacy Policy Into a Videogame about a Dog

What did you think of Twitter Data Dash?
The Guardian describes it as “a Super Nintendo-style browser game that recaps Twitter’s private policy.”

And the Verge applauds the game — released Wednesday — for its “delightful pixel art aesthetic.”

“Welcome to PrivaCity!” reads a description of the game on the site. “Get your dog, Data, safely to the park.

“Dodge cat ads, swim through a sea of DMs, battle trolls, and learn how to take control of your Twitter experience along the way….”

The game itself is a pretty straightforward side-scrolling platformer. Each level is themed around what I can best describe as Twitter Things — one features cats wearing ad boards, another has you avoiding trolls — and your goal is to collect five bones as quickly as you can. If you get the bones, the game will explain something about Twitter’s privacy settings related to that level and even offer a button linking to Twitter’s settings. When you beat the cat ad level, for example, you’ll see a message about how Twitter customizes your experience on the platform and points to where you can turn personalized ads on or off….

Twitter introduced the game as part of a bigger push around its privacy policy, which the company has rewritten. “We’ve emphasized clear language and moved away from legal jargon,” Twitter said on its Safety account.

Gizmodo calls the game “adorable,” but also “buggy”. And they also have some quibbles with its ultimate message:
It’s a bit rich that Twitter made a game about avoiding faceless advertisers when the platform is actively doing everything it can to make ads tougher to avoid….
[A]fter watching our personas bounce from level to level with our lil blue dog in tow, it became clear that this game is less for us — or any Twitter user, really — and more for the company itself. It’s a way to paper over uncomfortable topics like “privacy” and “consent” and “ownership of our personal data” with a lil blue dog, collecting lil bones by hopping across lil stages. Just promise you won’t think about where those bones came from in the first place.

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Elon Musk Warns Twitter Users, ‘You Are Being Manipulated by the Algorithm’

Twitter’s potential new owner just made this announcement to his 93.1 million followers. “Very important to fix your Twitter feed,” the annoncement began:

1. Tap home button.
2. Tap stars on upper right of screen.
3. Select “Latest tweets”.

You are being manipulated by the algorithm in ways you don’t realize.

Easy to switch back & forth to see the difference.

Currently it’s been pinned to the top of Elon Musk’s Twitter feed. And minutes later, he added this reply to his own tweet. “This message brought to you by the Illuminaughty.”
Musk’s motivation isn’t clear — but just minutes earlier he’d tweeted a reply to own tweet from Friday that had suggested Twitter users check a sample of 100 Twitter accounts for the percentage of fake/spam/duplicate accounts. “I picked 100 as the sample size number,” Musk had added as a reply Friday, “because that is what Twitter uses to calculate less than 5% fake/spam/duplicate.” Musk’s follow-up tweet today?

“Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100! This actually happened.”

The tweets follow three more from the last 24 hours which all apparently comment wryly on Musk’s planned acquisition of Twitter. “Whoever thought owning the libs would be cheap never tried to acquire a social media company!” Musk tweeted earlier this afternoon. “At least, that’s what the lib hivemind thinks haha.”

And an earlier tweet appeared to allude to his recently-expressed interest in the number of fake/spam accounts on Twitter. Friday night, Elon Musk tweeted:

“The bots are angry at being counted.”

Read more of this story at Slashdot.