Tuesday morning news drop
The Sports Gambling Gold Rush Is Absolutely Off the Charts Legal sports betting in the U.S. — once confined to Nevada — has gone mainstream. Since the Supreme Court in 2018 ended federal bans on the industry’s expansion, dozens of states have legalized it, and a multibillion-dollar betting boom is afoot. More money is now wagered on sports in New Jersey than in Nevada. California, which may become the biggest market of all, will vote on legalization next year. (Bloomberg)
‘To the Moon’ Crash Is Coming A longtime venture capitalist sees the religious dedication to Elon Musk, hype, and YOLO investing as almost a dot com-style pyramid scheme in the making. (Vice)
Finding Some Middle Ground Between Paul Volcker & Jerome Powell The problem is it’s not like taking interest rates from 0% to 0.75% or 1% is all of the sudden going to fix the supply chain issues. The Fed can’t make more semiconductors. They can’t unpack container ships at the LA ports. They can’t create more houses out of thin air. (Wealth of Common Sense)
The Biggest Deepfake Abuse Site Is Growing in Disturbing Ways A referral program and partner sites have spurred the spread of invasive, AI-generated “nude” images. (Wired)
A Sunny Place for a Shady Online Business: Malta, home to hundreds of betting sites and dubious oversight, is a target of an international money laundering crackdown. (Businessweek)
Documents link Huawei to China’s surveillance programs A review of more than 100 Huawei PowerPoint presentations, many marked “confidential,” suggests that the company has had a broader role in tracking China’s populace than it has acknowledged. (Washington Post)
The U.S. Has A Lot Of Guns Involved In Crimes But Very Little Data On Where They Came From the ways guns were trafficked made it hard to answer basic questions like how many might be stolen each year. Often, he said, police found trafficked guns only after they were used in a crime. Experts who spoke with FiveThirtyEight said there was no clear, national data on how crime guns go from manufacturers and dealers to the black market, how trafficking differed from state to state or even the street price of trafficked firearms in different markets. The most recent federal report on gun trafficking dates from 2000, and it used data from 1996 to 1998. (FiveThirtyEight)
The Paperwork Coup A much more dangerous insurrection was under way in the inboxes of Trump’s inner circle in the weeks before January 6. (The Atlantic)
Donald Trump’s Megaphone: Fox News news hosts knew that Trump’s lies were lies—and they amplified them anyhow I didn’t want to be complicit in so many lies. I know that a huge share of the people you saw on TV praising Trump were being dishonest. I know it, because they would say one thing to my face or in my presence and another thing when the cameras and microphones were flipped on. Punditry and politics is a very small world—especially on the right—and if you add-up all the congressmen, senators, columnists, producers, editors, etc. you’ll probably end up with fewer people than the student population of a decent-sized liberal arts college. (The Dispatch)
A Classic Car Giant With a Lofty Mission: Save Driving The Hagerty brand insures collectible autos — two million of them — and its articles and videos draw crowds. After going public, it has bigger plans. (New York Times)
Inside Apple Park: first look at the design team shaping the future of tech Led by Evans Hankey and Alan Dye, the Apple Design Team holds enormous sway over our evolving relationship with technology. Opening the doors to their studio at Apple Park in Cupertino for the first time, they offered us a deep dive into the working processes behind their latest creations. (Wallpaper)
