Riot Games will begin background evaluation of recorded in-game voice communications on July 13th in North America, in English. In a brief statement(opens in new tab) Riot said that the purpose of the recording is ultimately to "collect clear evidence that could verify any violations of behavioral policies." From a report: For now, however, recordings will be used to develop the evaluation system that may eventually be implemented. That means training some kind of language model using the recordings, says Riot, to "get the tech in a good enough place for a beta launch later this year." Riot also makes clear that voice evaluation from this test will not be used for reports.

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Even as supply-chain snarls ease, wage growth and price expectations are ticking up. The Economist: The bad news on inflation just keeps coming. At more than 9% year on year across the rich world, it has not been this high since the 1980s -- and there have never been so many "inflation surprises," where the data have come in higher than economists' forecasts (see chart in the linked story). This, in turn, is taking a heavy toll on the economy and financial markets. Central banks are raising interest rates and ending bond-buying schemes, crushing equities. Consumer confidence in many places is now even lower than it was in the early days of the covid-19 pandemic. "Real-time" economic indicators of everything from housing activity to manufacturing output suggest that economic growth is slowing sharply. What consumer prices do next is therefore one of the most important questions for the global economy. Many forecasters expect that annual inflation will soon ebb, in part because of last year's sharp increases in commodity prices falling out of the year-on-year comparison. In its latest economic projections the Federal Reserve, for instance, expects annual inflation in America (as measured by the personal-consumption-expenditure index) to fall from 5.2% at the end of this year to 2.6% by the end of 2023. You might be forgiven for not taking these prognostications too seriously. After all, most economists failed to see the inflationary surge coming, and then wrongly predicted it would quickly fade. In a paper published in May, Jeremy Rudd of the Fed made a provocative point: "Our understanding of how the economy works -- as well as our ability to predict the effects of shocks and policy actions -- is in my view no better today than it was in the 1960s." The future path of inflation is, to a great extent, shrouded in uncertainty. Some indicators point to more price pressure to come in the near term. Alternative Macro Signals, a consultancy, runs millions of news articles through a model to construct a "news inflation pressure index." The results, which are more timely than the official inflation figures, measure not just how frequently price pressures are mentioned, but also whether the news flow suggests that pressures are building up. In both America and the euro area the index is still miles above 50, indicating that pressures are continuing to build. Inflation worry-warts can point to three other indicators suggesting that the rich world is unlikely to return to the pre-pandemic norm of low, stable price growth any time soon: rising wage growth, and increases in the inflation expectations of both consumers and companies.

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Clinics offering debunked cancer treatments are still allowed to advertise, despite the company's stated efforts to control medical misinformation. From a report: The ad reads like an offer of salvation: Cancer kills many people. But there is hope in Apatone, a proprietary vitamin C-based mixture, that is "KILLING cancer." The substance, an unproven treatment that is not approved by the FDA, is not available in the United States. If you want Apatone, the ad suggests, you need to travel to a clinic in Mexico. If you're on Facebook or Instagram and Meta has determined you may be interested in cancer treatments, it's possible you've seen this ad, or one of the 20 or so others recently running from the CHIPSA hospital in Mexico near the US border, all of which are publicly listed in Meta's Ad Library. They are part of a pattern on Facebook of ads that make misleading or false health claims, targeted at cancer patients. Evidence from Facebook and Instagram users, medical researchers, and its own Ad Library suggests that Meta is rife with ads containing sensational health claims, which the company directly profits from. The misleading ads may remain unchallenged for months and even years. Some of the ads reviewed by MIT Technology Review promoted treatments that have been proved to cause acute physical harm in some cases. Other ads pointed users toward highly expensive treatments with dubious outcomes. CHIPSA, which stands for Centro Hospitalario Internacional del Pacifico, S.A, was founded in 1979 and refers to itself as a community hospital offering integrative treatments for cancer. On Facebook, the facility describes itself as being at the "cutting edge" of cancer research. But the hospital's foundational diet-based therapy, called the Gerson Protocol, is "all nonsense," says David Gorski, a surgical oncologist at Wayne State University in Michigan and the managing editor of the website Science-Based Medicine. Developed by a German doctor in the 1920s to treat migraines, the regimen consists of a special diet and frequent "detox" procedures. It has been discredited for decades in the medical community.

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Following the launch of Apple's new 13-inch MacBook Pro with the M2 chip, it has been discovered that the $1,299 base model with 256GB of storage has significantly slower SSD read/write speeds compared to the equivalent previous-generation model. From a report: YouTube channels such as Max Tech and Created Tech tested the 256GB model with Blackmagic's Disk Speed Test app and found that the SSD's read and write speeds are both around 1,450 MB/s, which is around 50% slower reading and around 30% slower writing compared to the 13-inch MacBook Pro with the M1 chip and 256GB of storage. Disk Speed Test app numbers shared by Vadim Yuryev of Max Tech: 13-inch MacBook Pro (M1/256GB) Read Speed: 2,900 13-inch MacBook Pro (M2/256GB) Read Speed: 1,446 13-inch MacBook Pro (M1/256GB) Write Speed: 2,215 13-inch MacBook Pro (M2/256GB) Write Speed: 1,463 Yuryev disassembled the new 13-inch MacBook Pro and discovered that the 256GB model is equipped with only a single NAND flash storage chip, whereas the previous model has two NAND chips that are likely 128GB each. This difference likely explains why the new model has a slower SSD, as multiple NAND chips allows for faster speeds in parallel.

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Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on Monday morning, stating that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin, worth about $323 million at today's prices. From a report: 3AC's solvency crunch comes after weeks of turmoil in the crypto market, which has erased hundreds of billions of dollars in value. Bitcoin and ether are both trading slightly lower in the last 24 hours, though well off their all-time highs. Meanwhile, the overall crypto market cap sits at about $950 billion, down from around $3 trillion at its peak in Nov. 2021. Voyager said it intends to pursue recovery from 3AC (Three Arrows Capital). In the interim, the broker emphasized that the platform continues to operate and fulfill customer orders and withdrawals. That assurance is likely an attempt to contain fear of contagion through the wider crypto ecosystem. "We are working diligently and expeditiously to strengthen our balance sheet and pursuing options so we can continue to meet customer liquidity demands," said Voyager CEO Stephen Ehrlich.

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Venture capital-backed startups raised far fewer rounds of funding during the past three months than they did during the more ebullient days of late last year and early this year, according to new data from analytics firm CB Insights. From a report: Deal activity across the globe dropped 23% between the first quarter and second quarter of this year, the firm found, using data for the second quarter through June 23. That's a stark contrast to the previous quarter, where the deal count dropped only 1.4% -- and an indication that the roiling of the crypto and public markets are affecting private companies. Investors are not just writing fewer checks but also smaller ones. The total funding amount going to startups for the current quarter to date dropped 27% compared to the first quarter. Those numbers are likely to change before the second quarter is officially over in a week, but the drop appears to be more severe than the 19% CB Insights had predicted just a month ago. Late-stage companies are getting squeezed particularly hard: Funding in Series D rounds or beyond dropped 43%.

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Short sellers have been ramping up their bets against tether, the world's largest stablecoin, amid a broad market selloff that has called into doubt the financial health of some crypto companies. From a report: In the past month, more traditional hedge funds have executed trades to short tether through Genesis Global Trading, one of the largest crypto brokerages for professional investors. These trades are worth "hundreds of millions" of dollars in notional value, said Leon Marshall, Genesis's head of institutional sales. He declined to be more specific. "There has been a real spike in the interest from traditional hedge funds who are taking a look at tether and looking to short it," Mr. Marshall said in an interview. Tether is a stablecoin, which are virtual currencies that are supposed to be pegged to the dollar or other national currencies, and it is the most widely traded in the world. Tether's market cap stood at about $67 billion on Friday, according to CoinMarketCap data. Genesis, which doesn't take a view on tether, said the short trades are almost exclusively put on by traditional hedge funds in the U.S. and Europe, while crypto firms -- especially those based in Asia -- have been happy to facilitate the other side of the transactions.

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