69.2 F
Chicago
Tuesday, September 15, 2026
Home Blog Page 1216

UBS Throws Cold Water On Ford’s “Model T Moment” Event

0
UBS Throws Cold Water On Ford’s “Model T Moment” Event

At 10:20 a.m. ET, Ford Motor Company will unveil its “Next Model T Moment,” which it describes on its website as “plans to design and assemble breakthrough electric vehicles in America.”

Today’s unveiling follows Ford’s July 30 earnings report that showed its electric vehicle unit lost $1.33 billion in the second quarter, even as its EV revenue rose to $2.4 billion. 

This is a Model T moment for us at Ford,” CEO Jim Farley told analysts on the most recent earnings call, referring to the founder Henry Ford’s introduction of mass production for the 1908 Model T, a revolutionary innovation at the time that reduced the price of each vehicle significantly. 

Ahead of today’s event in Kentucky, UBS analysts told clients:

UBS analyst Patrick Hummel doesn’t expect any meaningful announcement at Ford’s Aug. 11 Kentucky event, despite the company having billed it as a “Model T moment”. While a low-cost EV line (including the mid-size pickup) may be confirmed, Patrick does not expect to see product, rather just an update on Ford’s plan to design and assemble EVs in the US. Meanwhile, Ford has delayed its EV pickup/van to focus on affordable EVs.

Automotive News reported the EV pickup (originally 2027) and van (originally 2026) are delayed to 2028. This is not surprising. CEO Jim Farley has been talking about more affordable (and smaller) EVs and, for larger vehicles, a push into hybrids, PHEVs and EREVs. The question for the focus on smaller EVs, including potentially a Ranger sized EV, is whether there is true consumer pull for these products amid removal of the $7.5k consumer EV credit and a competitive landscape filled with more compelling non-EV alternatives.

Watch live here… 

. . . 

Tyler Durden
Mon, 08/11/2025 – 09:40

Zelenskyy Could Attend Meeting Between Trump And Putin This Week; VP Vance, NATO Ambassador Say

0
Zelenskyy Could Attend Meeting Between Trump And Putin This Week; VP Vance, NATO Ambassador Say

Authored by Jack Phillips via The Epoch Times,

U.S. Ambassador to NATO Matthew Whitaker said that Ukrainian President Volodymyr Zelenskyy could attend the forthcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska.

During an interview with CNN that was published on Sunday, Whitaker was asked about whether Zelenskyy would be invited to the summit.

“I certainly think it’s possible,” Whitaker told the outlet.

“You know, certainly, there can’t be a deal that everybody that’s involved in it doesn’t agree to.”

Trump and Putin are scheduled to meet on Aug. 15 to hold talks on ending the three-year-long war in Ukraine, White House officials and Trump confirmed. Trump has for weeks been threatening new sanctions against Russia for failing to put an end to the war.

In response to the meeting, Zelenskyy issued a statement on X saying that the Kyiv government should be involved.

“Any decisions that are against us, any decisions that are without Ukraine, are at the same time decisions against peace. They will not achieve anything,” Zelenskyy said in his post.

“These are stillborn decisions. They are unworkable decisions. And we all need real and genuine peace. Peace that people will respect.”

Trump said a potential deal would involve “some swapping of territories to the betterment of both” sides, compounding Ukrainian fears that it may face pressure to surrender land. Russia holds nearly a fifth of the country.

But the Ukrainian leader rejected suggestions that his country could concede territory to Russia as part of a peace deal.

“The answer to Ukraine’s territorial question is already in the constitution of Ukraine,” Zelenskyy said in a statement on Telegram Saturday. “No one will and no one can deviate from it. Ukrainians will not give their land to the occupier.”

Earlier Sunday, Vice President JD Vance said in an interview with Fox News that a negotiated settlement is unlikely to make either side happy.

“It’s not going to make anybody super happy. Both the Russians and the Ukrainians, probably, at the end of the day, are going to be unhappy with it,” he said on Fox News’ Maria Bartiromo on “Sunday Morning Futures.”

In the Fox interview recorded on Friday, Vance said the United States was working to schedule talks between Putin, Zelenskyy, and Trump, but he did not think it would be productive for Putin to meet with Zelenskyy before speaking with Trump.

“We’re at a point now where we’re trying to figure out, frankly, scheduling and things like that, around when these three leaders could sit down and discuss an end to this conflict,” he said.

In a post issued on X this weekend, Vance said that the Putin–Trump conversation was “to discuss a route to peace in the conflict between Russia and Ukraine.” He provided no further details.

During his 2024 campaign, Trump said he could end the Ukraine–Russia war within 24 hours, but so far, a peace deal between the two nations has been elusive. Before the meeting in Alaska was announced, the president warned Russia that he would impose more sanctions on Russia and economic penalties on large trading partners with Moscow.

He also ordered U.S. nuclear-capable submarines to be deployed closer to Russia in response to remarks made by a former Russian president, Dmitry Medvedev, regarding the Kremlin’s nuclear capabilities.

Regarding the Trump–Putin meeting, Whitaker said that he believes “direct engagement by President Trump is obviously leading us closer to a peace.”

Tyler Durden
Mon, 08/11/2025 – 09:20

No Pierogi For You: Dershowitz Denied Food In Martha’s Vineyard Over His Political Views

0
No Pierogi For You: Dershowitz Denied Food In Martha’s Vineyard Over His Political Views

Authored by Jonathan Turley,

Harvard Professor Alan Dershowitz appears to be living through a remake of the Seinfeld Soup Nazi episode. However, Dershowitz is facing a new culinary menace in Martha’s Vineyard. Chef Krem Miskevich has barred the famed lawyer from buying pierogis because of his political views . . . and liberals are applauding him for it. Welcome to Pierogi Politics, it is the same distasteful politics that is tearing apart this country . . . only with an added carbo load.

Dershowitz has previously described how his liberal neighbors, who were friendly when he was advancing liberal causes, have blacklisted him in the elite community due to his defense of Donald Trump.

He is treated as a persona non grata and shunned by the wealthy community.

Now the blacklisting has extended to food. Dershowitz would regularly go to the West Tisbury Farmers Market and buy food from the Good Pierogi.  Then Miskevich decided to join the mob and bar him from eating.

Miskevich (who goes by pronouns “they” and “them”) also accused Dershowitz of misgendering by referring to “him” in passing (Dershowitz said that he would happily use his preferred pronouns). However, Miskevich admits it is his political and legal views that led him to blacklist the professor.

Dershowitz is now pursuing legal action against the West Tisbury Farmers Market and posted a statement on his YouTube channel last week, stating “He didn’t approve of my politics so he wouldn’t serve me.”

Dershowitz suggested that the initial rejection may have been due to his wearing a pro-Jewish T-shirt.  In his initial encounter, he had reminded the vendor that Massachusetts law prohibits refusing service based on race, religion or sexual orientation: “You couldn’t say I don’t serve black people, you couldn’t say I don’t serve gay people, you couldn’t say I don’t serve Jews.”

The police were called in the incident and led Dershowitz away.

Miskevich has thrilled the left by venting his hate for Dershowitz and anyone who holds his political or legal views:

“When he came to our booth, I experienced a surge of emotion. As a chef, I love to share what I cook with the public, regardless of who they are. In this case, what was in the forefront of my mind was the fact that this was the high-profile attorney who represented several sexual predators and abusers including Jeffrey Epstein.”

Dershowitz is entirely in the right here, and the treatment that he received was outrageous. What is chilling is how hate is now celebrated on the left as a perverse type of virtue signaling.

We have seen how the left has embraced blacklisting, an abuse that was once associated with the McCarthy period. In 1950, columnist and civil libertarian Max Lerner penned a chilling prediction in the New York Post about the Red Scare: “There is a hate layer of opinion and emotion in America. There will be other McCarthys to come who will be hailed as its heroes.”

It turns out it would come from the left.  From the start of the first Trump Administration, restaurants refused to serve well-known Republicans and their families.

Calls for blacklisting have come from city councils to public interest groups. Others called for banning those “complicit” from college campuses, while still others demanded a “Truth and Reconciliation Commission” to “hold Trump and his enablers accountable for the crimes they have committed.” Daily Beast editor-at-large Rick Wilson added his own call for “humiliation,” “incarceration,” and even ritualistic suicides for Trump supporters in an unhinged, vulgar column.

Writers and editors have joined blacklisting efforts targeting Trump supporters, conservative justices, and authors like JK Rowling for their political views. It is all part of the Orwellian logic of the left, intolerance in the name of tolerance, blacklisting in the name of free speech.

We have also seen lawyers increasingly targeted by the left for their clients, a tactic once used against liberal lawyers representing unpopular criminal or civil clients. That includes the successful targeting of a Harvard professor for representing Weinstein. Many leading lawyers helped fund the Lincoln Project in its national effort to harass and abuse any lawyers representing the Republican party or President Trump.

This week, President Trump even had to sign an executive order to deter “debanking” where financial institutions discriminate on the basis of political or religious views.

Now, back to Dershowitz. Liberals are applauding the denial of food to people who do not share their political views. Indeed, Miskevich is parading and posturing like the MLK of Martha’s Vineyard for joining the mob against a single, unpopular neighbor. Instead of treating food as a basis for shared dialogue and exchange, Miskevich wants to weaponize it to use against those who dare to hold opposing views.

What is particularly striking is how these are many of the same people who insisted that a Colorado baker should be required to make cakes that violate the owner’s religious and free speech rights. In Masterpiece Cakeshop and later cases like 303 Creative, the left hounded business owners for refusing to sell products that celebrated same-sex marriages. They were outraged that such denials are hateful and intolerant.

However, in Masterpiece Cakeshop, the owner insisted that he would sell cakes to same-sex couples and anyone else coming into his store. He only drew the line at preparing cakes expressly celebrating same-sex marriages as an expressive act that violated his core beliefs.

In this case, Miskevich is refusing to sell pre-made pierogi based on a political litmus test. It is not clear that this violates the law, but it is wrong. If Dershowitz asked Miskevich to cater a pierogi-based party in celebration of Trump, I would support his right to decline as a matter of free speech given his dislike for conservatives. However, this is the denial of service for pre-made pierogis based on viewpoint discrimination.

There is little doubt that Miskevich will haul in customers by pandering to the mob. The only thing that is more enticing today than the love for good food is the hate for opposing views. The problem is that feeding on hate will never satiate people; they simply want more servings. That insatiable appetite is destroying this country and now Miskevich is contributing to it one pierogi at a time.

Jonathan Turley is the Shapiro professor of public interest law at George Washington University and the author of the best-selling book “The Indispensable Right: Free Speech in an Age of Rage,”

Tyler Durden
Mon, 08/11/2025 – 09:00

Intel CEO Heads To White House Following Trump’s Resignation Demand

0
Intel CEO Heads To White House Following Trump’s Resignation Demand

Intel CEO Lip-Bu Tan is headed to the White House today, just days after President Trump publicly demanded his resignation over alleged ties to China. Sources close to The Wall Street Journal say Tan will discuss his personal and professional background with the president, emphasize his allegiance to America, and advocate for closer government and Intel cooperation. 

Tan is a Malaysian-born/American citizen and has worked in the tech industry for years. He recently took over as CEO of the struggling chip company to revive it and position it for a turnaround. 

But his tenure has already seen turmoil and political scrutiny.

Concerns stem from Cadence Design Systems, where Tan was CEO until 2021. Last month, Cadence agreed to pay $140 million to settle DOJ charges for selling chip-design tools to a Chinese military university.

Optics so far are unfavorable for Tan, especially against the backdrop of the “America First” movement.

Here’s more from the sources about Tan’s upcoming meeting with Trump:

Tan is expected to have a wide-ranging conversation with Trump, with the intent of explaining his personal and professional background, the people said. He could also propose ways that the government and Intel could work together, they said.

Tan hopes to win Trump’s approval by showing his commitment to the country and pledging the importance of keeping Intel’s manufacturing capabilities as a national security issue, one of the people said.

The controversy surrounding Tan began last Thursday after President Trump read U.S. Republican Senator Tom Cotton’s letter sent one day earlier to Intel’s Board about the CEO’s ties to Chinese firms.

This led to Trump firing off a Truth Social post: “The CEO of INTEL is highly CONFLICTED and must resign, immediately.”

After today’s meeting, it’s likely only a matter of time before the White House announces “golden shares” in Intel – just as it did in the U.S. Steel-Nippon deal.

High teens appear to be the floor. 

. . .

Tyler Durden
Mon, 08/11/2025 – 08:40

Haiti Declares 3-Month State Of Emergency As Gangs Ravage Country’s Central Region

0
Haiti Declares 3-Month State Of Emergency As Gangs Ravage Country’s Central Region

The government of Haiti announced Saturday that it will implement a three-month state of emergency in the country’s central region due to gang violence. 

The measure will cover Haiti’s West, Artibonite, and Center departments “to continue the fight against insecurity and respond to the agricultural and food crisis,” the government said in a statement.

We’re sure the Clintons and pal Laura Silsby could help by ‘rescuing’ 33 more Hatian children (children only) from said state of emergency. 

The affected region is known as Haiti’s “rice basket,” which has seen gangs killing farmers or forcing them to abandon their fields as they raze nearby communities. 

Demonstrators protest to reject an international military force requested by the government in Port-au-Prince, Haiti, on Oct. 24, 2022. RICHARD PIERRIN/AFP via Getty Images

From October 2024 until the end of June 2025, over 1,000 people have been killed, over 200 injured, and 620 kidnapped in the Artibonite and Central departments and nearby areas, the Associated Press reports.

Gang violence also has displaced more than 239,000 people in Haiti’s central region, according to the U.N. In late April, dozens of people waded and swam across the country’s largest river in a desperate attempt to flee gangs.

On Friday, the government appointed a new interim director general to oversee Haiti’s National Police, which is working with Kenyan police officers leading a U.N.-backed mission to help quell gang violence.

André Jonas Vladimir Paraison replaces former police director general Normil Rameau, who was criticized for his struggle to contain violence perpetrated by gangs that control up to 90 percent of Haiti’s capital, Port-au-Prince. Rameau had repeatedly warned about the department’s severe underfunding.-AP

Paraison was previously the head of security for Haiti’s National Palace – and was on duty as a police officer when former President Jovenel Moïse was killed at his private residence in July 2021. 

Tyler Durden
Mon, 08/11/2025 – 07:45

Orsted Shares Crash Below IPO Price On “Unexpected” Rights Issue 

0
Orsted Shares Crash Below IPO Price On “Unexpected” Rights Issue 

Shares of Danish company Orsted A/S crashed the most on record after the wind developer announced a rights offering of up to 60 billion kroner ($9.4 billion). The offering aims to stabilize its finances, which have been hit hard by soaring costs, supply chain disruptions, and President Trump’s rollback of “green” energy projects. 

Orsted shares plunged 29%, falling below their 2016 IPO price after the company announced the largest share offering in the European energy sector since Enel SpA in 2009. The capital raise is an attempt by the CEO to shore up finances as the entire green energy sector comes under severe pressure in the era of Trump and common-sense energy policies. 

With wind farm construction as its core business, Orsted has been exposed to more canceled projects than any of its industry peers, including ones in the US and the UK. The funding gap swelled after scrapping a stake sale in the Sunrise Wind project off New York. 

Orsted also announced the sale of its European onshore wind unit, targeting 35 billion kroner from divestments by next year, and plans to invest 145 billion kroner from 2025-27 while maintaining an investment-grade rating and resuming dividends in 2026. Full-year EBITDA guidance remains at 25 to 28 billion kroner, though offshore wind targets were cut due to weaker wind speeds.

“Orsted and our industry are in an extraordinary situation with the adverse market development in the US on top of the past years’ macroeconomic and supply chain challenges,” CEO Rasmus Errboe said in a statement.

Commenting on the rights offer, Goldman analysts led by Alberto Gandolfi told clients that Orsted’s offering was “largely unexpected, with clarity expected by mid-September… but also a clean-up move.”

Gandolfi explained more:

Orsted has just announced the intention to carry out a DKK 60 bn rights issue (c.€8 bn), equivalent to around 45% of its market capitalisation. Although not totally unexpected to us – in our recent report (here), we flagged execution risks on disposals and FCF headwinds from rolling incentives – we believe this would come as a surprise to most of the Sell Side. Given the size, the rights issue would be highly dilutive, and hence we believe could lead to a swift drop in the share price. We also note that we have not seen the terms of the rights issue, and the terms (based on the H1 investor presentation available on Orsted website) would be disclosed in the first half of September, thus implying 3-4 weeks of market uncertainty. On the other hand, we highlight that once completed, this would most likely represent a “clean up move” as we would expect the resulting B/S (post rights issue) to be solid. As a reference, consensus YE Net Debt currently stands at DKK 75 bn on Bloomberg, and we project 2025 EBITDA at DKK c.28 bn. A restored B/S strength would put less pressure on Orsted to divest assets (current plan implies DKK 40 bn pending disposals). Lastly, we also flag that, pre raise, Bloomberg consensus P/E for 2026 is a mere 12x; the stock would therefore not be on an overly high P/E even post rights. We remain Neutral rated.

The analysts maintained a “Neutral” rating on the stock with a 300-kroner 12-month price target. 

Orsted shares in Copenhagen are down 27% – the largest daily decline on record. Shares are now below the IPO level. 

Here’s what other research desks are telling their clients (courtsey of Bloomberg):

Jefferies (hold)

  • Analyst Ahmed Farman says in note also published before Orsted’s confirmation any rights issue is likely “clearly negative” due to dilution concerns

  • Says “risk-reward post any such raise will depend on the medium-term growth outlook Orsted sets out,” while any raise “would enhance confidence regarding the balance sheet, reducing dependency on execution of farmdowns”

  • In note published after the company announcement that near- term dilution “seems substantial given size of the raise (much bigger than the figure reported by BBG last Friday) and seemingly no new growth angle”

Bloomberg Intelligence (no rating)

  • Analysts Patricio Alvarez and Joao Martins say issue “reflects exposure to structural policy headwinds in the US, where inability to farm down Sunrise Wind (0.9 GW) could widen its funding gap by more than 40 billion kroner, including capex overruns”

  • Add that Orsted’s planned 8.1 GW buildout in 2025-2027 now appears “well capitalized, yet execution and growth risks in its Europe portfolio are mounting”

RBC Capital Markets (sector perform)

  • Analyst Alexander Wheeler notes company is flagging headwinds in US wind farm market will stop a planned partial divestment of the Sunrise Wind project, leading to additional funding needs of DKK40 billion

  • Says that while company’s balance sheet and selling assets have been a main focus, “we think more of the focus was on assets such as Hornsea 3 and Changhua 2, with most of the rights issue being consumed by the additional requirements for Sunrise Wind, a project which is already materially squeezed on returns

. . . 

Tyler Durden
Mon, 08/11/2025 – 07:20

“Super Steel”: China Unveils Game-Changing Cryogenic Steel for Fusion Reactors

0
“Super Steel”: China Unveils Game-Changing Cryogenic Steel for Fusion Reactors

China has developed a breakthrough material, CHSN01 (China high-strength low-temperature steel No 1), capable of withstanding extreme cold and massive magnetic forces, and deployed it this year in the world’s first fusion nuclear power generation reactor, according to SCMP.

The steel puts China at the forefront of materials science and could have applications beyond fusion.

The ultra-strong cryogenic steel meets the demands of superconducting magnets operating near absolute zero and in magnetic fields of up to 20 Tesla. It can endure stresses of 1,300MPa and has superior fatigue resistance to traditional alloys. “In addition to its applications in superconductivity, this steel can also be used in other related areas,” said Zhao Zhongxian, a top Chinese physicist.

Development began after a 2011 setback at the International Thermonuclear Experimental Reactor (ITER) in France, where cryogenic steel turned brittle under testing.

China’s team, led by Li Laifeng of the Chinese Academy of Sciences, spent over a decade refining the material—starting with nitrogen-enhanced stainless steel, then incorporating vanadium and controlling carbon/nitrogen ratios.

Foreign experts had called the new approach “absolutely impossible,” but Zhao encouraged persistence: “Do not blindly trust foreign authorities. This matter is worth pursuing.”

In 2021, China set strict specifications—1,500MPa yield strength and over 25% elongation at cryogenic temperatures—described by fusion expert Li Jiangang as essential for the country’s compact fusion devices.

SCMP writes that the High-Strength Steel Research Alliance, uniting institutes, companies, and welding specialists, fast-tracked progress through biweekly technical forums and independent testing.

By August 2023, CHSN01 met all targets and entered production for the Burning Plasma Experimental Superconducting Tokamak (BEST), now under construction and due for completion in 2027. Of its 6,000 tonnes of components, 500 tonnes of conductor jackets are made from CHSN01.

Tyler Durden
Mon, 08/11/2025 – 06:55

The Market Game Is Rigged And Everyone Is Lying… Still

0
The Market Game Is Rigged And Everyone Is Lying… Still

Submitted by QTR’s Fringe Finance

just sat down with Dan Ferris on Stansberry’s Investor Hour for one of the most honest, wide-ranging interviews I’ve done in a while. Before this conversation hits the wider world, I wanted to make it available first to you — my paid subscribers. It pulls from years of experience, harsh lessons, and truths that don’t get spoken on CNBC or passed around in TikTok trading rooms.

I started the conversation with a little self-deprecating humor, pointing out that I thought my “half-life with ever being invited back to anything Stansberry after my 2019 onstage performance in Las Vegas was much longer than six years.” I told the story of how I showed up from the pool in a tank top for that event and how “I’m just going to go and say what I want to say. And that’s going to be it. And if I don’t get invited back, you know, that’s okay.” My philosophy is simple—say what I want, enjoy myself, and if people get flustered over salty language, so be it.

When we got into the subject of tariffs and manufacturing, I admitted that while tariffs have downsides, “I don’t think that it’s a bad idea… to make this hard stop and say, listen, we have to do something.” COVID had exposed how much we rely on overseas production for critical items—“the ingredients that are used to make pharmaceuticals, the pharmaceuticals themselves, the rare earth minerals, the things that really… hang significant portions of our quality of life.”

I pointed out how “the only thing this country exports right now is dollars” and how trying to reverse decades of decline in domestic manufacturing is “like turning around the f*cking Titanic.”

From there, I laid out what I think is the real danger: how financial markets are structured today. I explained the “passive bid” problem—how “people are buying the ETF, and that’s driving Apple higher” regardless of fundamentals. I said the danger is that when redemptions spike, “a lot of these funds don’t have cash liquid to absorb those redemptions” and instead “have… taken on leverage specifically so they don’t have to sell.”

With 40% of S&P index money in just 10 stocks, “we’re really in a situation where we’re putting so many of our eggs all in seven baskets. And that’s frightening.”

I also talked about the options market, which I see as one of “two giant f*cking trap doors underneath the market.” When dealers sell calls or puts, “there’s a certain percentage… they have to hedge against,” which can force huge amounts of buying during manias like GameStop. I said, “The entire market has become leveraged gambling. I mean, top to bottom.” The same mechanism can work in reverse, and “when that happens again, you’re going to see options weaponized in the other direction, which I think could be extremely dangerous.”

We also got into specific names and the market darlings. I didn’t hold back on Cathie Wood and ARK Invest. “She promised 40% compounded returns some years back and ARKK has gone nowhere in comparison” The gap between the promise and reality is “just a little bit off.” I said bluntly, “There hasn’t been a piece of pre-order, pre-revenue dog sh*t that these people haven’t fallen in love with.” Without Tesla’s 10x run from late 2019 to mid-2020, “no one ever hears this woman, ever.”


🔥 TAKE 65% OFF IF YOU SUBSCRIBE TODAY: Anyone who subscribes annually today, using the below link, IMMEDIATELY gets 65% off full price. This discount lasts for as long as you wish to remain a subscriber: Get 65% off forever


That doesn’t mean I’m a pessimist. “Most of my portfolio is long, but it’s just long in stuff that’s not mag seven sh*t.” I like value-oriented names like UPS, “which trades at 12 times earnings, pays a dividend… a business that’s going to be here forever.” I also own “gold miners, silver miners… nuclear… psychedelics” and “anything I can do to kind of get out of the system as it exists today.” If you’re holding insolvent companies or fad coins, “there is no bottom.”

On the macro side, I see the MMT cycle accelerating, “widening the inequality gap,” and cornering the Fed. Inflation is still above target, so they’ll have to choose between “basically a quick deflationary depression or inflation.” I described this moment as a transition from “the gold standard to fiat… [to] fiat to digital” where “even more rules just kind of fly out the window because we have even more ways to micromanage the money supply.”

I wrapped up by reminding people how quickly things can change. “One day it’s not a big issue and then you wake up the next day and people are fist fighting over toilet paper.” The lesson I’ve learned from a decade of short selling is simple: “Everybody’s a liar, everybody’s a fraud. Nothing is as it seems.” My advice: “Be vigilant about protecting yourself and protecting your… family and your community” and remember “the more complacent everybody gets, the more non-complacent you should become.”

(WATCH THE FULL VIDEO INTERVIEW HERE)

Tyler Durden
Mon, 08/11/2025 – 06:30

ChatGPT Gave Suicide Instructions, Drug And Alcohol Guidance, To Fake 13 Year Old User

0
ChatGPT Gave Suicide Instructions, Drug And Alcohol Guidance, To Fake 13 Year Old User

A new report warns that teens can access dangerous advice from ChatGPT due to “ineffective” safeguards.

“What we found was the age controls, the safeguards against the generation of dangerous advice, are basically, completely ineffective,” said Imran Ahmed, CEO of the Center for Countering Digital Hate (CCDH).

Researchers posing as vulnerable 13-year-olds were given detailed guidance on drug and alcohol use, concealing eating disorders, and suicide, according to KOMO News.

“Within two minutes, ChatGPT was advising that user on how to safely cut themselves. It was listing pills for generating a full suicide plan,” Ahmed said. “To our absolute horror, it even offered to [create] and then did generate suicide notes for those kids to send their parents.”

KOMO News writes that the watchdog found the chatbot displayed warnings on sensitive topics but that these were easily bypassed.

Dr. Tom Heston of the University of Washington School of Medicine said AI chatbots can be useful but pose risks for people with mental health problems, especially youth. “This is truly a case where STEM fields have really excelled, but we need the humanities,” he said. “We need the mental health, we need the artists, we need the musicians to have input and make them be less robotic and be aware of the nuances of human emotion.”

“It’s obviously concerning, and we have a long way to go,” Heston added, calling for rigorous outside testing before deployment. Both he and Ahmed urged parental oversight.

In response, OpenAI said it consults with mental health experts and has hired a clinical psychiatrist to its safety research team. “Our goal is for our models to respond appropriately when navigating sensitive situations where someone might be struggling,” a spokesperson said, noting the system is trained to encourage users to seek help, provide hotline links, and detect signs of distress. “We’re focused on getting these kinds of scenarios right… and continuing to improve model behavior over time – all guided by research, real-world use, and mental health experts.”

The full Center for Countering Digital Hate report can be read here

Tyler Durden
Mon, 08/11/2025 – 05:45

Congress Must Improve Science Commercialization

0
Congress Must Improve Science Commercialization

Authored by  Lars Erik Schönander via RealClearScience,

Congress has an opportunity to fix federal government policies on science commercialization. Last week, House Committee on Small Business Chairman Roger Williams (R-Texas) took an important step to that end, introducing a companion bill to the INNOVATE Act, which Senator Joni Ernst (R-IA) introduced this year as Chair of the Senate Small Business Committee. Williams’s bill could help reform the Small Business Innovation Research  program and help nurture the next American tech giants. 

Congress established the SBIR program in 1982 to commercialize science and turn startups into major companies. It can tout among its success stories Qualcomm, ViaSat, AeroVironment, and Anduril, all of which used SBIR funding to grow. The INNOVATE Act would reauthorize the SBIR program, which is due to expire at the end of the fiscal year, while strengthening commercialization requirements, improving the due diligence process for SBIR awardees to minimize malign foreign influence in the program, and attracting new entrants. 

As part of the SBIR program’s previous reauthorization in 2022, Congress helped address serious national security flaws in the program. In 2021, the Pentagon found that multiple people receiving SBIR funding through the Department of Defense had then transferred the results of their research to Chinese academia and industry. The 2022 reauthorization addressed this problem by requiring agencies with SBIR programs to establish due diligence programs to ensure SBIR awards don’t go to companies with malign foreign ties. But other problems with the SBIR program remain, which the INNOVATE Act would solve. 

First, the legislation would tighten benchmarks and impose a $75 million lifetime cap on SBIR awards, which would help prevent companies from treating the SBIR program as a perpetual revenue source. The INNOVATE Act targets commercialization problems that government agencies and independent analysts have documented for years. The Government Accountability Office and outside researchers have found that a few companies receive disproportionate SBIR funding while being worse at commercialization compared to their peers. The new standards aim to redirect awards toward companies that intend to graduate from the SBIR program.

Second, the bill enhances the SBIR program’s due diligence process to ensure that SBIR award winners are not connected to adversarial entities. The Senate Small Business Committee has found that companies with ties to foreign adversaries have received SBIR awards, even after the new due diligence requirements were enacted. Strengthening the due diligence process would ensure that such national security breaches don’t happen again.

Third, the INNOVATE Act aims to attract new entrants and help the best companies cross the “valley of death”— the funding gap that companies with new technologies face when transitioning research from an idea to a product. The bill would create an easier path to enter the program through a one-time SBIR award focused on commercialization and would create a transition-focused funding vehicle in DoD. These “Strategic Breakthrough Funding awards” would allow DoD to award up to $30 million to small businesses that received previous SBIR awards, but need funding to mass-produce their technology. 

Representative Williams’s version of the INNOVATE Act makes a few key changes to the Senate version. The commercialization language in the House version is weaker than the Senate version. The $75 million SBIR award cap remains, but the House bill creates a waiver system for companies with a national security justification to keep receiving awards. The agency director overseeing each SBIR program would approve these waivers. The House version also does not contain the language to strengthen the commercialization standards.

While tracking waivers in the annual congressional SBIR report is a smart move, the Small Business Administration should also flag waived companies in the SBIR database it maintains. This would let the public and stakeholders track waiver recipients more effectively. It will make it easier to see if multiple award winners still participate in the SBIR program even after the reforms. 

Finally, the House version broadens the Strategic Breakthrough Funding program beyond the Pentagon. While the Senate restricts the program to DoD, the House allows any agency with an annual SBIR program budget of over $100 million to make commercialization-focused SBIR awards. This would allow agencies such as the Department of Energy or the National Institutes of Health to participate. However, the eligible activities may need expansion to cover energy and health startups’ business needs, since the current language is focused on defense.

With the release of a House companion to the INNOVATE Act, Congress is closer to reauthorizing the SBIR program before it expires at fiscal year’s end. The SBIR program remains a powerful tool for commercializing scientific research. Congress shouldn’t waste this opportunity to make the program even stronger.

Tyler Durden
Sun, 08/10/2025 – 23:20