Will Remote Working Lead Millennials to Buy Homes in Affordable Remote Suburbs?

An anonymous reader shared this report from Fortune:
For eight years now, as millennials have entered their thirties and forties, also known as “homebuying age,” Bank of America has surveyed over 1,000 members of the generation once a year for its Home Work series. And for 2023’s edition… older millennials (age 31-41) are almost three times as likely to move into a house than an apartment, the survey found…

Migration patterns during the pandemic have clearly established that most homebuyers have wanted to flee big cities, with some “zoomtowns” such as Boise benefiting in particular. But the survey reveals something even more drastic. In a section called “suburban nation,” BofA reveals that 43% to 45% of millennials — of every age — expect to buy a house in the suburbs. “We expect the ability to work from home to remain an incentive for young families to seek out more remote suburban and rural markets where housing may be more affordable,” wrote the BofA team led by research analyst Elizabeth Suzuki. And remote work is still robust, they added.

Millennials are also looking toward the suburbs for wealth-building. A majority (two-thirds) of them believe that they’ll buy a home in the next two years, citing a return on investment as the number one reason for purchasing. The interest is pervasive across the generation, and maybe means that the suburb is in for a new and better revival. And a 2021 study from Pew Research Center found that one in five adults preferred city life, compared to one quarter of adults in 2018…

Millennials reported to BoA that the pandemic increased their likelihood of buying a home…

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Bill Gates Visits Planned Site of ‘Most Advanced Nuclear Facility in the World’

Friday Bill Gates visited Kemmerer, Wyoming (population: 2,656) — where a coal plant was shutting down after 50 years. But Gates was there “to celebrate the latest step in a project that’s been more than 15 years in the making: designing and building a next-generation nuclear power plant…”

The new plant will employ “between 200 and 250 people,” Gates writes in a blog post, “and those with experience in the coal plant will be able to do many of the jobs — such as operating a turbine and maintaining connections to the power grid — without much retraining.”

It’s called the Natrium plant, and it was designed by TerraPower, a company I started in 2008. When it opens (potentially in 2030), it will be the most advanced nuclear facility in the world, and it will be much safer and produce far less waste than conventional reactors.
All of this matters because the world needs to make a big bet on nuclear. As I wrote in my book How to Avoid a Climate Disaster , we need nuclear power if we’re going to meet the world’s growing need for energy while also eliminating carbon emissions. None of the other clean sources are as reliable, and none of the other reliable sources are as clean…

Another thing that sets TerraPower apart is its digital design process. Using supercomputers, they’ve digitally tested the Natrium design countless times, simulating every imaginable disaster, and it keeps holding up. TerraPower’s sophisticated work has drawn interest from around the globe, including an agreement to collaborate on nuclear power technology in Japan and investments from the South Korean conglomerate SK and the multinational steel company ArcelorMittal…

I’m excited about this project because of what it means for the future. It’s the kind of effort that will help America maintain its energy independence. And it will help our country remain a leader in energy innovation worldwide. The people of Kemmerer are at the forefront of the equitable transition to a clean, safe energy future, and it’s great to be partnering with them.

Gates writes that for safety the plant uses liquid sodium (instead of water) to absorb excess heat, and it even has an energy storage system “to control how much electricity it produces at any given time…”

“I’m convinced that the facility will be a win for the local economy, America’s energy independence, and the fight against climate change.

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White House Proposes 30% Tax On Electricity Used For Crypto Mining

Longtime Slashdot reader SonicSpike shares a report from Engadget: The Biden administration wants to impose a 30 percent tax on the electricity used by cryptocurrency mining operations, and it has included the proposal in its budget for the fiscal year of 2024. In a blog post on the White House website, the administration has formally introduced the Digital Asset Mining Energy or DAME excise tax. It explained that it wants to tax cryptomining firms, because they aren’t paying for the “full cost they impose on others,” which include environmental pollution and high energy prices.

Crypto mining has “negative spillovers on the environment,” the White House continued, and the pollution it generates “falls disproportionately on low-income neighborhoods and communities of color.” It added that the operations’ “often volatile power consumption ” can raise electricity prices for the people around them and cause service interruptions. Further, local power companies are taking a risk if they decide to upgrade their equipment to make their service more stable, since miners can easily move away to another location, even abroad. As Yahoo News noted, there are other industries, such as steel manufacturing, that also use large amounts of electricity but aren’t taxed for their energy consumption. In its post, the administration said that cryptomining “does not generate the local and national economic benefits typically associated with businesses using similar amounts of electricity.”

Critics believe that the government made this proposal to go after and harm an industry it doesn’t support. A Forbes report also suggested that DAME may not be the best solution for the issue, and that taxing the industry’s greenhouse gas emissions might be a better alternative. That could encourage mining firms not just to minimize energy use, but also to find cleaner sources of power. It might be difficult to convince the administration to go down that route, though: In its blog post, it said that the “environmental impacts of cryptomining exist even when miners use existing clean power.” Apparently, mining operations in communities with hydropower have been observed to reduce the amount of clean power available for use by others. That leads to higher prices and to even higher consumption of electricity from non-clean sources. “If the proposal ever becomes a law, the government would impose the excise tax in phases,” adds Engadget. “It would start by adding a 10 percent tax on miners’ electricity use in the first year, 20 percent in the second and then 30 percent from the third year onwards.”

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Mercedes Locks Better EV Engine Performance Behind Annoying Subscription Paywalls

Last year, BMW announced plans to charge a $18 per month subscription for heated seats. Now, Mercedes is considering making better EV engine performance an added subscription surcharge. “Mercedes-Benz electric vehicle owners in North America who want a little more power and speed can now buy 60 horsepower for just $60 a month or, on other models, 80 horsepower for $90 a month,” reports CNN. “They won’t have to visit a Mercedes dealer to get the upgrade either, or even leave their own driveway. The added power, which will provide a nearly one second decrease in zero-to-60 acceleration, will be available through an over-the-air software patch.” Techdirt reports: If you don’t want to pay monthly, Mercedes will also let you pay a one time flat fee (usually several thousand dollars) to remove the artificial restrictions they’ve imposed on your engine. That’s, of course, creating additional upward pricing funnel efforts on top of the industry’s existing efforts to upsell you on a rotating crop of trims, tiers, and options you probably didn’t want.

It’s not really clear that regulators have any interest in cracking down on charging dumb people extra for something they already owned and paid for. After all, ripping off gullible consumers is effectively now considered little more than creative marketing by a notable segment of government “leaders” (see: regulatory apathy over misleading hidden fees in everything from hotels to cable TV).

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Vice Media Group Preps $400 Million Sale To George Soros and Fortress

Vice Media Group is planning to sell to investors for about $400 million — a fraction of its once high-flying $5.7 billion valuation back in 2017. The investors include Fortress Investment Group and Soros Fund Management, according to the Wall Street Journal. Variety reports: Cash-strapped Vice Media has been searching for a buyer over the past year, to no avail. In February, Nancy Dubuc announced her exit as CEO after almost five years. The company subsequently appointed longtime execs Bruce Dixon and Hozefa Lokhandwala as co-CEOs. Under the proposed sale to “senior lenders,” Fortress “plans to find a role for Vice co-founder Shane Smith,” who is executive chairman and previously served as CEO prior to Dubuc’s hire.

The bankruptcy and sale would “wipe out” most of Vice’s other shareholders, including TPG Group and James Murdoch (who invested in the company via his Lupa Systems investment firm), per the Journal report. Vice has been unable to pay many of its vendors and recently secured a $30 million “lifeline” from Fortress, the Journal previously reported. Last week, the New York Times reported that Vice Media was preparing for bankruptcy after being unable to find a buyer. It announced a series of layoffs and said it was pulling the plug on “Vice News Tonight.”

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The 2023 Video Game Hall of Fame Inductees

Slashdot reader Dave Knott shares the four class of 2023 inductees into the Video Game Hall Of Fame. They were announced today at The Strong National Museum of Play. From the press release: Barbie Fashion Designer : “The 1996 hit Barbie Fashion Designer emerged at a time when many games were marketed to male players. Published by Digital Domain/Mattel Media, it proved that a computer game targeted to girls could succeed, selling more than 500,000 copies in two months. The game helped greatly expanded the market for video games and in the process opened important — and ongoing — discussions about gender and stereotypes in gaming. Barbie Fashion Designer was also innovative in bridging the gap between the digital and the physical, allowing players to design clothes for their Barbie dolls and print them on special fabric.”

Computer Space : “Nutting Associate’s Computer Space appeared in 1971 and was the first commercial video game. Inspired by the early minicomputer and previous World Video Game Hall of Fame inductee — Spacewar! (1962) — the coin-operated Computer Space proved that video games could reach an audience outside of computer labs. While not a best-seller, it was a trailblazer in the video game world and inspired its creators to go on to establish Atari Inc., a video game giant in the 1970s and 1980s.”

The Last of Us : “Released by Naughty Dog and Sony Interactive Entertainment in 2013, The Last of Us jumped into an oversaturated field of post-apocalyptic zombie games and quickly stood out among the rest with its in-depth storytelling, intimate exploration of humanity, thrilling game jumps and cutscenes, and its memorable characters. More than 200 publications named it the game of the year in 2013. Its story has since made the jump to Hollywood, inspiring an HBO adaptation in 2023 watched weekly by millions.”

Wii Sports : “Wii Sports launched with the Nintendo Wii home video game system in 2006 and introduced motion-based technology to living rooms across the world. With a simple swipe of the controller, players could serve a tennis ball, hurl a bowling bowl, throw a left hook, or drive a golf ball. The simple mechanics made the game accessible to almost anyone — allowing it to be played by young children and seniors alike — and helped to redefine the idea of who is a “gamer.” Ultimately, the game helped Nintendo to sell more than 100 million Wii consoles worldwide.” These titles managed to beat out several other incredibly popular titles, including Angry Birds, Age of Empires, Call of Duty 4: Modern Warfare, GoldenEye 007, NBA 2K, FIFA International Soccer, Quake, and Wizardry.

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El Salvador President Signs Law Eliminating Taxes On Tech Innovations

Following the announcement of the bill in March, El Salvador President Nayib Bukele signed a law today eliminating income, property, capital gains, and other tariffs on technology innovations. Watcher Guru reports: The announcement reinforces El Salvador’s perspective as a haven for technology development. Additionally, Bukele stated that the new act protects “technology innovations, software and app programming, AI, computer, and communications hardware manufacturing.”

The Innovations and Technology Manufacturing Incentives Act will likely attract tech developments to the country. Moreover, the elimination of taxes presents an economic benefit to a host of companies. Conversely, El Salvador continues to maintain its commitment to a variety of tech innovations that are being developed.

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Porn VPN Searches Soar In Utah Amid Age Verification Bill

Internet users are turning to VPN services as a means to circumvent Utah’s new law requiring porn sites to verify users’ ages. The spike in VPN searches appears to be directly related to Pornhub’s decision on Tuesday to completely disable its websites for people living in the state. TechRadar reports: Google searches for virtual private networks (VPNs) have been skyrocketing since, with a peak registered on May 3, the day the new law came into force. By downloading a VPN service, pornography fans will be able to keep accessing Pornhub and similar sites with ease. That’s because a virtual private network is security software able to spoof users’ IP address (digital location and device identifier). Hence a surge of interest in VPNs across Utah as people will simply need to connect to a server located in a US state or foreign country where the restriction isn’t yet enforced.

“Utah’s age-verification law shows a worrying trend to further restrict digital freedoms and disregard data privacy across the US,” said a spokesperson of secure VPN provider Private Internet Access (PIA). “Private Internet Access is a long-time advocate of greater digital privacy, and we urge lawmakers to consider other ways of protecting children online, including education, guidance from parents, and open conversations about safe internet usage, rather than relying on increasingly intrusive digital regulations which disregard people’s privacy and online freedom.” You can see the spike in “virtual private network” searches via Google Trends.

“Search queries for VPN were at peak popularity in Utah just before 4 a.m. EST Tuesday, according to the trends data,” notes Newsweek. “Other related queries in the past week include searches for VPN extensions like Hola and Fox Speed.”

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Montana’s Governor’s Changes To TikTok Ban Bill Would Ban All Social Media Entirely

Montana Governor Greg Gianforte has returned an “amendatory veto” to the legislature regarding the state’s unconstitutional “ban TikTok” bill, proposing alternative draft language that inadvertently could ban all social media platforms in the state due to poor drafting. The revised language targets any social media application that collects personal information and provides it to a foreign adversary, but since most social media networks collect such information and share it with entities in foreign countries, it would effectively ban all social media in Montana. Techdirt reports: As [1st Amendment lawyer Ari Cohn] points out, the new draft targets any “social media application” that allows for “the collection of personal information or data” and allows for “the personal information or data to be provided to a foreign adversary or a person or entity located within a country designated as a foreign adversary.” Now, some might think that sounds reasonable, but the details here matter. And the details reveal that EVERY social media network collects such information and provides it to people located in countries designated as a foreign adversary. And that’s because “personal information” is a very broad term, as is “provided.” [Ari writes:]

“‘Surely,’ you might think, ‘that just covers the data platforms amass by monitoring and tracking us, right?’ Perhaps not. The bill doesn’t define the term, so who knows what it means in their heads. But we have an idea of what it means out in the real (online) world, by way of the regulations implementing the Children’s Online Privacy Protection Act (COPPA). Those regulations include in the definition of ‘personal information’ things like: First and last name; Online contact information; A screen or user name where it functions in the same manner as online contact information. In other words, the types of information that accompany virtually every piece of content posted on social media. If a platform allows that kind of information to be provided to any foreign adversary or a person or entity located within a foreign adversary, it is banned from Montana.

Do you know who might be persons located within a country designated as a foreign adversary? Users. Users who are provided the kinds of ‘personal information’ that are inherent in the very concept of social media. So, effectively, the bill would ban any social media company that allows any user in China, Russia, Iran, or Cuba to see content from a Montana user (and this is a generous reading, nothing in the bill seems to require that the data/information shared be from a Montana resident). On top of it, each time a user from one of those countries accesses content, platforms would be subject to a $10,000 fine. Do you know which platforms allow people in those countries to access content posted in the United States? All of them. Congratulations, Montana Governor Greg Gianforte. You just managed to accidentally ban all social media for Montanans. Good work.”

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TSMC To Charge Up To 30% More For Chips Made In the US

According to DigiTimes, TSMC will charge an extra 30% more for chips made in American than for chips made in Taiwan. Tom’s Hardware reports: TSMC has started discussions with customers about orders and pricing for both overseas plants, which are set to begin commercial production in late 2024. Industry insiders believe that prices of chips produced on TSMC’s N4 and N5 process technologies in the U.S. will be 20% — 30% higher than those in Taiwan, while older process chips produced in Japan’s Kumamoto facility on N28/N22 as well as N16/N12 nodes may cost 10% – 15% more than similar chips fabbed in Taiwan.

While American chip designers certainly won’t appreciate higher costs on chip production in the U.S., it is likely that they will make chips aimed at government and less price-sensitive applications in Arizona. Therefore, they should be able to pass those extra costs on to their customers without risking their competitive positions. Given the high construction and operational costs of fabs in Japan and the U.S., TSMC is going to pass those extra expenses on to customers to maintain its gross margin target of 53%.

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