Camembert writes: In a move that is sure to make Ripple nervous, traditional financial network Swift announced yesterday that it is partnering with Consensys and more than 30 global banks to build a blockchain based network that will run in parallel with its traditional network. Interestingly, unlike XRP, there is no native coin, rather it aims for interoperability (probably using Chainlink with whom the company did case studies for a few years already). There is also a strong focus on regulatory compliance. There are several news articles and opinion pieces on this event; I linked the Reuters article.

Sen. Mark Kelly and three Democratic colleagues urged appropriations leaders to block funding for moving space shuttle Discovery from the Smithsonian's Udvar-Hazy Center in Virginia to Houston, arguing the transfer would waste taxpayer money, risk permanent damage, and restrict public access. The relocation, pushed by Texas senators Cornyn and Cruz under a new law, carries an estimated cost of nearly $400 million. Ars Technica reports: "Why should hundreds of millions of taxpayer dollars be spent just to jeopardize a piece of American history that's already protected and on display?" wrote Kelly in a social media post on Friday. "Space Shuttle Discovery belongs at the Smithsonian, where millions of people, including students and veterans, go to see it for free." In a letter sent on the same day to the leadership of the Senate Committee on Appropriations, Kelly and his three colleagues cautioned that any effort to transfer the winged orbiter would "waste taxpayer dollars, risk permanent damage to the shuttle, and mean fewer visitors would be able to visit it." "It is worth noting that there is little evidence of broad public demand for such a move," wrote Kelly, Warner, Kaine, and Durbin.

In the letter, the senators asked that committee chair Susan Collins (R-Maine) and vice chair Patty Murray (D-Wash.) block funding for Discovery's relocation in both the fiscal year 2026 Interior-Environment appropriations bill and FY26 Commerce, Justice, Science appropriations bill. [...] "Houston's disappointment in not being selected is wholly understandable," the four senators wrote, "but removing an item from the National Collection is not a viable solution." [...] "There are also profound financial challenges associated with this transfer," wrote Kelly. Warner, Kaine, and Durbin. "The Smithsonian estimates that transporting Discovery from Virginia to Houston could cost more than $50 million, with another $325 million needed for planning, exhibit reconstruction, and new facilities." "Dedicating hundreds of millions of taxpayer dollars to move an artifact that is already housed, displayed, and preserved in a world-class facility is both inefficient and unjustifiable," the senators wrote.

Then there are the logistical challenges with relocating Discovery, which could result in damaging it, "permanently diminishing its historical and cultural value for future generations." "Moving Discovery by barge or road would be far more complex [than previous shuttle moves], exposing it to saltwater, weather, and collision risks across a journey several times longer," the letter reads. "As a one-of-a-kind artifact that has already endured the stresses of spaceflight, Discovery is uniquely vulnerable to these hazards. The heat tiles that enabled repeated shuttle missions become more fragile with age, and they are irreplaceable." Kelly, who previously lived in Houston when he was part of the space program, agrees that the city is central to NASA's human spaceflight efforts, but, along with Warner, Kaine, and Durbin, points out that displaying Discovery would come with another cost: an admission fee, limiting public access to the shuttle. "The Smithsonian is unique among museums for providing visitors with access to a national treasure meant to inspire the American public without placing economic barriers," wrote the senators.

OpenAI unveiled Instant Checkout, a new ChatGPT feature that lets users buy stuff directly through its chatbot. Currently, the feature supports single-item purchases directly from Etsy sellers, but support for more than one million Shopify merchants is coming soon. It's also only available to U.S. ChatGPT Plus, Pro and Free users at this time. CNBC reports: OpenAI will take a fee from transactions that are completed through ChatGPT, which means Instant Checkout could become an important new revenue stream for the startup. OpenAI is not yet profitable, and is burning through cash as it works to scale up its computing infrastructure. The company declined to share specific details about how large the fees are since they are determined through confidential contracts with Etsy and Shopify. Instant Checkout is free to users and will not affect their prices, OpenAI said.

"Our vision for ChatGPT -- and a lot of the technology we create, but especially ChatGPT -- is that it's not just providing you information, it is also helping you get things done in the real world," Michelle Fradin, OpenAI's product lead for ChatGPT commerce, told CNBC in an interview. The company plans to introduce multi-item carts and expand the regional availability of Instant Checkout moving forward. [...]

Instant Checkout is powered by OpenAI's Agentic Commerce Protocol, which is the underlying technology that allows users to complete a transaction directly with a merchant through ChatGPT. OpenAI built the framework in partnership with the fintech company Stripe, which powers ChatGPT subscriptions. OpenAI initially decided to use Agentic Commerce Protocol for e-commerce, but Fradin said the company thinks it could be used to facilitate other types of purchases or payments as well. OpenAI is open-sourcing the framework to help merchants build integrations more quickly, and so that developers can explore different use cases, she said.

An anonymous reader quotes a report from CBS News: A pair of e-commerce entrepreneurs who bought a number of well-known retail brands -- including RadioShack, Modell's Sporting Goods and Pier 1 Imports -- out of bankruptcy are accused of running a Ponzi scheme. The Securities and Exchange Commission on Monday accused Alex Mehr and Tai Lopez, founders of the Miami-based Retail Ecommerce Ventures (REV), of defrauding investors out of approximately $112 million. Through their holding company, Mehr and Lopez acquired distressed brick-and-mortar companies in order to turn them into successful, online-only brands. Dress Barn and Linens 'n Things were also among their acquisitions. [...]

The SEC's suit alleges that between 2020 and 2022, Mehr and Lopez, "made material misrepresentations" to hundreds of investors about the bankrupt retailers they had acquired. For example, to entice individuals to invest in their acquisitions, they said their portfolio companies were "on fire" and that "cash flow is strong." They also told prospective backers that money raised for a company would only be invested in that specific firm. That proved not to be the case, according to the SEC's lawsuit, which was filed Monday in the U.S. District Court for the Southern District of Florida.

"Contrary to these representations, while some of the REV Retailer Brands generated revenue, none generated any profits," the suit states. "Consequently, in order to pay interest, dividends and maturing note payments, Defendants resorted to using a combination of loans from outside lenders, merchant cash advances, money raised from new and existing investors, and transfers from other portfolio companies to cover obligations." The SEC alleges that at least $5.9 million of returns paid to investors were actually Ponzi-like payments funded by other investors, as opposed to companies' profits. Additionally, the federal regulatory agency claims that Mehr and Lopez allocated $16 million worth of investments for their own use, according to the filing.

An anonymous reader shares a report: OpenAI is planning to release a new version of its Sora video generator that creates videos featuring copyrighted material unless copyright holders opt out of having their work appear, according to people familiar with the matter. OpenAI began alerting talent agencies and studios about the forthcoming product and its opt-out process over the last week and plans to release the new version in the coming days, the people said.

The new opt-out process means that movie studios and other intellectual property owners would have to explicitly ask OpenAI not to include their copyrighted material in videos Sora creates. While copyrighted characters will require an opt-out, the new product won't generate images of recognizable public figures without their permission, people familiar with OpenAI's thinking said.

The editors of the culture magazine n + 1 decry the "well-funded upheaval" caused by a large and powerful coalition of pro-AI forces. ("According to the logic of market share as social transformation, if you move fast and break enough things, nothing can contain you...")

"An extraordinary amount of money is spent by the AI industry to ensure that acquiescence is the only plausible response. But marketing is not destiny." The AI bubble — and it is a bubble, as even OpenAI overlord Sam Altman has admitted — will burst. The technology's dizzying pace of improvement, already slowing with the release of GPT-5, will stall... [P]rofessional readers and writers: We retain some power over the terms and norms of our own intellectual life. We ought to stop acting like impotence in some realms means impotence everywhere. Major terrains remain AI-proofable. For publishers, editors, critics, professors, teachers, anyone with any say over what people read, the first step will be to develop an ear. Learn to tell — to read closely enough to tell — the work of people from the work of bots...

Whatever nuance is needed for its interception, resisting AI's further creep into intellectual labor will also require blunt-force militancy. The steps are simple. Don't publish AI bullshit. Don't even publish mealymouthed essays about the temptation to produce AI bullshit. Resist the call to establish worthless partnerships like the Washington Post's Ember, an "AI writing coach" designed to churn out Bezos-friendly op-eds. Instead, do what better magazines, newspapers, and journals have managed for centuries. Promote and produce original work of value, work that's cliché-resistant and unreplicable, work that tries — as Thomas Pynchon wrote in an oracular 1984 essay titled "Is It OK to Be a Luddite?" — "through literary means which are nocturnal and deal in disguise, to deny the machine...."

Punishing already overdisciplined and oversurveilled students for their AI use will help no one, but it's a long way from accepting that reality to Ohio State's new plan to mandate something called "AI fluency" for all graduates by 2029 (including workshops sponsored, naturally, by Google). Pedagogically, alternatives to acquiescence remain available. Some are old, like blue-book exams, in-class writing, or one-on-one tutoring. Some are new, like developing curricula to teach the limits and flaws of generative AI while nurturing human intelligence...

Our final defenses are more diffuse, working at a level of norms and attitudes. Stigmatization is a powerful force, and disgust and shame are among our greatest tools. Put plainly, you should feel bad for using AI. (The broad embrace of the term slop is a heartening sign of a nascent constituency for machine denial.) These systems haven't worked well for very long, and consensus about their use remains far from settled. That's why so much writing about AI writing sounds the way it does — nervous, uneven, ambivalent about the new regime's utility — and it means there's still time to disenchant AI, provincialize it, make it uncompelling and uncool...

As we train our sights on what we oppose, let's recall the costs of surrender. When we use generative AI, we consent to the appropriation of our intellectual property by data scrapers. We stuff the pockets of oligarchs with even more money. We abet the acceleration of a social media gyre that everyone admits is making life worse. We accept the further degradation of an already degraded educational system. We agree that we would rather deplete our natural resources than make our own art or think our own thoughts... A literature which is made by machines, which are owned by corporations, which are run by sociopaths, can only be a "stereotype" — a simplification, a facsimile, an insult, a fake — of real literature. It should be smashed, and can.
The 3,800-word article also argues that "perhaps AI's ascent in knowledge-industry workplaces will give rise to new demands and new reasons to organize..."

Paris-based AI giant Mistral "is pushing to improve its models," reports the Wall Street Journal, "by looking inside legacy enterprises that hold some of the world's last untapped data reserves...." Mistral's approach will be to form partnerships with enterprises to further train existing models on their own proprietary data, a phenomenon known as post-training... [At Dutch chip-equipment company ASML], Mistral embeds its own solutions architects, applied AI engineers and applied scientists into the enterprise to work on improving models with the company's data. [While Mistral sells some models under a commercial license], this co-creation strategy allows Mistral to make money off the services side of its business and afford to give away its open source AI free of charge, while improving model performance for the customer with more industry context...

This kind of hand-holding approach is necessary for most companies to tackle AI successfully, said Arthur Mensch [co-founder and chief executive of Mistral]. "The very high-tech companies [and] a couple of banks are able to do it on their own. But when it comes to getting some [return on investment] from use cases, in general, they fail," he said. Mensch attributes that in part to a mismatch between expectations and reality. "The curse of AI is that it looks like magic. So you can very quickly make something that looks amazing to your boss," but it doesn't scale or work more broadly, he said. In other cases, enterprises simply might not know what to focus on. For example, it is a mistake to think equipping all employees with a chatbot will create meaningful gains on the bottom line, he said. Mensch said to fully take advantage of AI, companies will have to rethink organizational structures. With information flowing more easily, they could require fewer middle managers, for example.

There is a lot of work yet to do, Mensch said, but in a large sense, the future of AI development now lies inside the enterprise itself. "This is a pattern that we've seen with many of our customers: At some point, the capabilities of the frontier model can only be increased if we partner," he said.

It's the world's largest companies by revenue. But Walmart's executives have a blunt message, reports the Wall Street Journal: "Artificial intelligence will wipe out jobs and reshape its workforce." "It's very clear that AI is going to change literally every job," Chief Executive Doug McMillon said this week in one of the most pointed assessments to date from a big-company CEO on AI's likely impact on employment... "Maybe there's a job in the world that AI won't change, but I haven't thought of it."

Inside Walmart, top executives have started to examine AI's implications for its workforce in nearly every high-level planning meeting. Company leaders say they are tracking which job types decrease, increase and stay steady to gauge where additional training and preparation can help workers. "Our goal is to create the opportunity for everybody to make it to the other side," McMillon said. For now, Walmart executives say the transformation means the size of its global workforce will stay roughly flat even as its revenue climbs. It plans to maintain its head count of around 2.1 million global workers over the next three years, but the mix of those jobs will change significantly, said Donna Morris, Walmart's chief people officer. What the composition will look like remains murky... Already Walmart has built chat bots, which it calls "agents," for customers, suppliers and workers. It is also tracking an expanding share of its supply chain and product trends with AI...

Some changes are already rippling across the workforce. In recent years Walmart has automated many of its warehouses with the help of AI-related technology, triggering some job cuts, executives said. Walmart is also looking to automate some back-of-store tasks. New roles have been established, too. Walmart, for example, created an "agent builder" position last month — an employee who builds AI tools to help merchants. It expects to add people in areas like home delivery or in high-touch customer positions, such as its bakeries. The company has also added more in-store maintenance technicians and truck drivers in recent years.
The article also a comment made by Ford Motor Chief Executive Jim Farley earlier this summer. "Artificial intelligence is going to replace literally half of all white-collar workers in the U.S."

Videogame maker Electronic Arts is in advanced talks to go private in a roughly $50 billion deal that would likely be the largest leveraged buyout of all time, WSJ is reporting, citing people familiar with the matter. From the report: A group of investors including private-equity firm Silver Lake, Saudi Arabia's Public Investment Fund and Jared Kushner's investment firm Affinity Partners could unveil a deal for the publisher best known for its sports games as soon as next week, the people said.

EA has long made games including FIFA, the soccer videogame now known as FC, and the football game Madden NFL as well as The Sims and other titles. The California-based company had a market value of around $43 billion before The Wall Street Journal reported on the talks, which sent the stock up nearly 15% Friday. Its shares closed at $193.35, a record high, giving the company a market value of around $48 billion.

Nine major European banks are creating a Netherlands-based company to launch a euro-backed stablecoin in 2026, aiming to counter U.S. dominance in the digital token market. Reuters reports: While global stablecoin issuance stands at nearly $300 billion, euro-denominated stablecoins totalled just $620 million, according to figures released last week by the Bank of Italy, with dollar-pegged tokens overwhelmingly dominant. "The initiative will provide a real European alternative to the U.S.-dominated stablecoin market, contributing to Europe's strategic autonomy in payments," the banks said. They launched the effort, which they said will create a token that can be used for quick, low-cost payments and settlements, even as the European Central Bank voices scepticism over stablecoins.

ECB President Christine Lagarde in June told European policymakers that privately issued stablecoins posed risks for monetary policy and financial stability. As a safer alternative, she has urged European lawmakers to introduce legislation backing the launch of a digital version of the EU's single currency. Some commercial banks, however, have pushed back against the introduction of a digital euro, fearing that it would empty their coffers as customers transfer cash out of banks and into the safety of an ECB-guaranteed wallet. In addition to ING and UniCredit, the other banks participating in the new company include Banca Sella, KBC, DekaBank, Danske Bank, SEB, Caixabank, and Raiffeisen Bank International. They said that others could join the initiative, and a CEO for the company would be appointed soon. According to a recent report by Deutsche Bank, emerging market economies are adopting dollar-based stablecoins to replace local deposits and cash. "This has created a global monetary dilemma: countries should adopt stablecoins or risk being left behind. Europe is under particular pressure."

Microsoft has disabled the Israeli Defense Ministry's access to certain services and subscriptions, after finding evidence that the ministry used the tech company's cloud services to surveil Gaza citizens. WSJ adds: The software company made the move after an internal investigation indicated Israel's Defense Ministry used Microsoft's Azure cloud services for surveillance, according to a person familiar with the matter. The company probe is ongoing. "As employees, we all have a shared interest in privacy protection, given the business value it creates by ensuring our customers can rely on our services with rock solid trust," Microsoft President Brad Smith said in a blog post Thursday on Microsoft's company website.

Smith said Microsoft's investigation was guided by the company's "longstanding protection of privacy as a fundamental right." Microsoft opened the probe after the Guardian, the British news organization, reported in August that Israel used Azure to store data on Gaza civilians and surveil them. The issue has been the source of protests at the company.

Cloudflare announced plans Thursday to launch NET Dollar, a U.S. dollar-backed stablecoin designed to enable autonomous AI agents to conduct instant financial transactions. The company says the stablecoin will support microtransactions and pay-per-use models as AI agents take over tasks like booking flights and ordering groceries. BrianFagioli comments: A U.S. dollar-backed cryptocurrency from Cloudflare feels unusual to me, and I'm still surprised by it. The decision shows just how much the Internet is shifting in response to artificial intelligence.

CEO Matthew Prince said, "For decades, the business model of the Internet ran on ad platforms and bank transfers. The Internet's next business model will be powered by pay-per-use, fractional payments, and microtransactions -- "tools that shift incentives toward original, creative content that actually adds value." He added that by using its global network, Cloudflare aims to "help modernize the financial rails needed to move money at the speed of the Internet."

Circle, the world's second-biggest issuer of stablecoins, is examining ways to make it possible to reverse transactions involving its tokens [non-paywalled source], in a rare admission by a major crypto firm that it needs to take lessons from the traditional financial sector. Financial Times: Circle president Heath Tarbert said a mechanism that allowed money to be refunded in cases of fraud or disputes would help the stablecoin industry's push to become part of the financial mainstream. "We are thinking through...whether or not there's the possibility of reversibility of transactions, right, but at the same time, we want settlement finality," Tarbert told the Financial Times.

"So there's an inherent tension there between being able to transfer something immediately, but having it be irrevocable," he added. Such measures could be seen as a major departure from the crypto industry's previous emphasis on the "immutability" of the blockchain, a digital ledger that is public and records transactions that cannot be unwound.

Neon Mobile, now the No. 2 social networking app in Apple's U.S. App Store, pays users up to $30 per day to record their phone calls and sell the data to AI companies. The app claims to only capture one side of a call unless both parties use Neon, but its terms grant sweeping rights over recordings. TechCrunch reports: The app, Neon Mobile, pitches itself as a money-making tool offering "hundreds or even thousands of dollars per year" for access to your audio conversations. Neon's website says the company pays 30 cents per minute when you call other Neon users and up to $30 per day maximum for making calls to anyone else. The app also pays for referrals.

According to Neon's terms of service, the company's mobile app can capture users' inbound and outbound phone calls. However, Neon's marketing claims to only record your side of the call unless it's with another Neon user. That data is being sold to "AI companies," the company's terms of service state, "for the purpose of developing, training, testing, and improving machine learning models, artificial intelligence tools and systems, and related technologies."

Despite what Neon's privacy policy says, its terms include a very broad license to its user data, where Neon grants itself a: "...worldwide, exclusive, irrevocable, transferable, royalty-free, fully paid right and license (with the right to sublicense through multiple tiers) to sell, use, host, store, transfer, publicly display, publicly perform (including by means of a digital audio transmission), communicate to the public, reproduce, modify for the purpose of formatting for display, create derivative works as authorized in these Terms, and distribute your Recordings, in whole or in part, in any media formats and through any media channels, in each instance whether now known or hereafter developed." That leaves plenty of wiggle room for Neon to do more with users' data than it claims. The terms also include an extensive section on beta features, which have no warranty and may have all sorts of issues and bugs. Peter Jackson, cybersecurity and privacy attorney at Greenberg Glusker, told TechCrunch: "Once your voice is over there, it can be used for fraud. Now, this company has your phone number and essentially enough information -- they have recordings of your voice, which could be used to create an impersonation of you and do all sorts of fraud."

Private equity firms are facing systemic challenges after a half-century of meteoric growth as attractive takeover targets become scarce and financing costs remain elevated while exits prove increasingly difficult. US buyout funds currently hold more than 12,000 companies that would take approximately nine years to fully distribute at current rates, according to PitchBook data.

The industry holds $1.2 trillion in dry powder and nearly a quarter of that capital was pledged at least four years ago. More than 18,000 private capital funds seek $3.3 trillion from increasingly reluctant investors, Bain estimates. Quarterly returns for US private equity funds fell from 13.5% in Q2 2021 to 0.8% in Q4 2024. Apollo President Jim Zelter described the situation as a "natural washout" at an investor conference this month. Charles Wilson of Selby Jennings added that "many PE firms are dead already, they just don't know it" and noted survival depends on how forgiving limited partners -- the entities, including pension funds and endowments, that have invested in private equity firms -- prove when firms return for new fundraising.

An anonymous reader quotes a report from Ars Technica: If an Iranian taxi driver waves away your payment, saying, "Be my guest this time," accepting their offer would be a cultural disaster. They expect you to insist on paying -- probably three times -- before they'll take your money. This dance of refusal and counter-refusal, called taarof, governs countless daily interactions in Persian culture. And AI models are terrible at it.

New research released earlier this month titled "We Politely Insist: Your LLM Must Learn the Persian Art of Taarof" shows that mainstream AI language models from OpenAI, Anthropic, and Meta fail to absorb these Persian social rituals, correctly navigating taarof situations only 34 to 42 percent of the time. Native Persian speakers, by contrast, get it right 82 percent of the time. This performance gap persists across large language models such as GPT-4o, Claude 3.5 Haiku, Llama 3, DeepSeek V3, and Dorna, a Persian-tuned variant of Llama 3.

A study led by Nikta Gohari Sadr of Brock University, along with researchers from Emory University and other institutions, introduces "TAAROFBENCH," the first benchmark for measuring how well AI systems reproduce this intricate cultural practice. The researchers' findings show how recent AI models default to Western-style directness, completely missing the cultural cues that govern everyday interactions for millions of Persian speakers worldwide. "Cultural missteps in high-consequence settings can derail negotiations, damage relationships, and reinforce stereotypes," the researchers write.

"Taarof, a core element of Persian etiquette, is a system of ritual politeness where what is said often differs from what is meant," the researchers write. "It takes the form of ritualized exchanges: offering repeatedly despite initial refusals, declining gifts while the giver insists, and deflecting compliments while the other party reaffirms them. This 'polite verbal wrestling' (Rafiee, 1991) involves a delicate dance of offer and refusal, insistence and resistance, which shapes everyday interactions in Iranian culture, creating implicit rules for how generosity, gratitude, and requests are expressed."

Longtime Slashdot reader schwit1 shares a report from ICO Bench: As of September 1, 2025, banks across Vietnam are closing accounts deemed inactive or non-compliant with new biometric rules. Authorities estimate that more than 86 million accounts out of roughly 200 million are at risk if users fail to update their identity verification.

The State Bank of Vietnam has also introduced stricter thresholds for transactions:
- Facial authentication is mandatory for online transfers above 10 million VND (about $379).
- Cumulative daily transfers over 20 million VND ($758) also require biometric approval.

The policy is part of the central bank's broader "cashless" strategy, aimed at combating fraud, identity theft, and deepfake-enabled scams. [...] While many Vietnamese citizens have updated their biometric data without issue, the measure has disproportionately affected foreign residents and expatriates who cannot easily return to local branches and dormant accounts that had been left inactive for years. schwit1 highlights a post on X from Bitcoin expert and TFTC.io founder Marty Bent: "If users don't comply by the 30th they'll lose their money. This is why we bitcoin."

Disney is raising prices again for Disney+, Hulu, and ESPN Select starting October 21, 2025, with most ad-supported tiers going up by $2-3 per month and bundles also seeing increases. It marks the third consecutive year of U.S. streaming price hikes. Variety reports: It's that time of year again, apparently: Disney is raising the prices of its Disney+ and Hulu plans in the U.S., including most bundles, as of next month. The standalone Disney+ with ads service is rising from $9.99 to $11.99/month on Oct. 21, 2025, while the Disney+ Premium (without ads) is going from $15.99 to $18.99/month. The Hulu standalone plan with ads is increasing from $9.99 to $11.99/month as of the same date; the premium version of Hulu with no ads will remain at $18.99 per month.

In addition, the price of ESPN Select (the service formerly known as ESPN+, which has a more limited content lineup than the recently launched ESPN Unlimited all-in app) will increase from $11.99 to $12.99 per month on Oct. 21. For now, the introductory price of the Disney+, Hulu and ESPN Unlimited bundle with ads will remain $29.99 per month (for the first 12 months). It's the third time in three years Disney is raising the prices of the streaming services in the U.S., after price hikes for Disney+ and Hulu in October 2024 and in October 2023. Disney provided notifications of the latest price hikes Tuesday on its customer support sites.

An anonymous reader quotes a report from TechCrunch: While many vibe-coding startups have become unicorns, with valuations in the billions, one area where AI-assisted coding has not yet taken off is on mobile devices. Despite the numerous apps now available that offer vibe-coding tools on mobile platforms, none are gaining noticeable downloads, and few are generating any revenue at all. According to an analysis of global app store trends by the app intelligence provider Appfigures, only a small handful of mobile apps offering vibe-coding tools have seen any downloads, let alone generated revenue.

The largest of these is Instance: AI App Builder, which has seen only 16,000 downloads and $1,000 in consumer spending. The next largest app, Vibe Studio, has pulled in just 4,000 downloads but has made no money. This situation could still change, of course. The market is young, and vibe-coding apps continue to improve and work out the bugs. New apps in this space are arriving all the time, too. This year, a startup called Vibecode launched with $9.4 million in seed funding from Reddit co-founder Alexis Ohanian's Seven Seven Six. The company's service allows users to create mobile apps using AI within its own iOS app. Vibecode is so new, Appfigures doesn't yet have data on it. For now, most people who want to toy around with vibe-coding technology are doing so on the desktop.

An anonymous reader quotes a report from Fortune: The dramatic rise in unemployment among Americans under 25 -- especially recent graduates -- has become one of the most troubling economic headlines of 2025. Recent insights from economists, central bankers, and labor market analysts signal that this appears to be a uniquely American challenge, underpinned by a "no hire, no fire" economy rather than solely by the rapid ascent of artificial intelligence.

For many Gen Z workers, the struggle to land a job can feel isolating and fuel self-doubt. But that frustration recently got some high-level validation: Federal Reserve Chair Jerome Powell echoed economists' concerns about the cooling labor market, telling reporters at his regular press conference following the Federal Open Market Committee that it's an "interesting labor market" right now, adding that "kids coming out of college and younger people, minorities, are having a hard time finding jobs." Noting a low job finding rate, along with a low redundancy rate, he said, "you've got a low firing, low hiring environment." and noting that it's harder than ever for young jobseekers to break in.

While recent months have been dubbed by Deutsche Bank "the summer AI turned ugly," and some major studies find AI adoption disrupting some entry-level roles, Powell was less sure. AI "may be part of the story," but he insisted the main drivers are a broadly slowed economy and hiring restraint. Top economists at Goldman Sachs and UBS tackled the subject soon after and found Powell to be mostly on the money. This isn't an AI story, at least not yet. "The U.S. labor market experience is peculiar," said Paul Donovan, UBS Chief Economist. "Young Euro area workers have a record low unemployment rate. In the UK, the young persons' unemployment rate has fallen steadily. Employment participation by young Japanese workers is near all-time highs. It seems highly implausible that AI uniquely hurts the employment prospects of younger US workers."

"It might be tempting to blame technology... Machines, robots, or computers replacing humans is an ever-popular dystopian scenario." Donovan concludes that the U.S. pattern "more convincingly fits a broader hiring freeze narrative, affecting new entrants to the workforce."

Goldman Sachs economist Pierfrancesco Mei said last Thursday that "finding a job takes longer in a low-turnover labor market." He argued that "job reallocation," or the pace at which new jobs are created and existing ones destroyed, has been on the decline since the late 1990s... "almost all the variation in turnover since the Great Recession mostly falls on younger workers" and is taking place as "churn." Goldman found that in 2019, it took a young unemployed worker about 10 weeks to find a new job in a low-churn state; now that's 12 weeks on average.