“Patch Tuesday” is when Microsoft (and other software companies) regularly release patches for their software on the second Tuesday of a month. A “zero day exploit” is a serious, previously undisclosed security flaw in a shipping piece of software. Not every Patch Tuesday includes a zero day fix, and sometimes the release only fixes one or two.
Attackers are actively exploiting as many as six of the 90 vulnerabilities that Microsoft disclosed in its security update for August, making them a top priority for administrators this Patch Tuesday.
Another four CVEs in Microsoft’s update were publicly known before the Aug. 13 disclosure, which also make them zero-days of a sort, even though attackers have not yet begun exploiting them. Among them, an elevation of privilege (EoP) bug in Windows Update Stack, tracked as CVE-2024-38202, is particularly troubling because Microsoft does not yet have a patch for it.
The unpatched flaw allows an attacker with “basic user privileges to reintroduce previously mitigated vulnerabilities or circumvent some features of Virtualization Based Security (VBS),” according to Microsoft. The company has assessed the bug as being only of moderate severity because an attacker would need to trick an administrator or user with delegated permissions into performing a system restore.
However, Scott Caveza, staff research engineer at Tenable, says that if an attacker were to chain CVE-2024-38202 with CVE-2024-21302 (an EoP flaw in the current update that affects Windows Secure Kernel), they would be able to roll back software updates without the need for any interaction with a privileged user. “CVE-2024-38202 does require ‘additional interaction by a privileged user,’ according to Microsoft,” he says. “However, the chaining of CVE-2024-21302 allows an attacker to downgrade or roll back software versions without the need for interaction from a victim with elevated privileges.”
Caveza says each vulnerability can be exploited separately, but when combined, they could potentially have a more significant impact.
In all, seven of the bugs that Microsoft disclosed this week are rated as critical. The company rated 79 CVEs — including the zero-days that attackers are actively exploiting — as “Important,” or of medium severity, because they involve some level of user interaction or other requirement for an attacker to exploit. “While this isn’t the biggest release, it is unusual to see so many bugs listed as public or under active attack in a single release,” said Dustin Childs, head of threat awareness at Trend Micro’s Zero Day Initiative (ZDI), in a blog post.
This is, to use a technical term, “bad.”
I’m not an expert in Windows security, but ten zero day exploits sounds like a new record.
And just who is exploiting this vulnerability in the wild? Well, in one case, North Korea.
A Windows zero-day vulnerability recently patched by Microsoft was exploited by hackers working on behalf of the North Korean government so they could install custom malware that’s exceptionally stealthy and advanced, researchers reported Monday.
Getting pwned by North Korea is like getting arrested for knocking over a liquor store because you posted a picture of yourself in front of the store holding up the stolen cash on Facebook.
The vulnerability, tracked as CVE-2024-38193, was one of six zero-days—meaning vulnerabilities known or actively exploited before the vendor has a patch—fixed in Microsoft’s monthly update release last Tuesday. Microsoft said the vulnerability—in a class known as a “use after free”—was located in AFD.sys, the binary file for what’s known as the ancillary function driver and the kernel entry point for the Winsock API. Microsoft warned that the zero-day could be exploited to give attackers system privileges, the maximum system rights available in Windows and a required status for executing untrusted code.
Microsoft warned at the time that the vulnerability was being actively exploited but provided no details about who was behind the attacks or what their ultimate objective was. On Monday, researchers with Gen—the security firm that discovered the attacks and reported them privately to Microsoft—said the threat actors were part of Lazarus, the name researchers use to track a hacking outfit backed by the North Korean government.
“The vulnerability allowed attackers to bypass normal security restrictions and access sensitive system areas that most users and administrators can’t reach,” Gen researchers reported. “This type of attack is both sophisticated and resourceful, potentially costing several hundred thousand dollars on the black market. This is concerning because it targets individuals in sensitive fields, such as those working in cryptocurrency engineering or aerospace to get access to their employer’s networks and steal cryptocurrencies to fund attackers’ operations.”
Monday’s blog post said that Lazarus was using the exploit to install FudModule, a sophisticated piece of malware discovered and analyzed in 2022 by researchers from two separate security firms: AhnLab and ESET. Named after the FudModule.dll file that once was present in its export table, FudModule is a type of malware known as a rootkit. It stood out for its ability to operate robustly in the deep in the innermost recess of Windows, a realm that wasn’t widely understood then or now. That capability allowed FudModule to disable monitoring by both internal and external security defenses.
Rootkits are pieces of malware that have the ability to hide their files, processes, and other inner workings from the operating system itself and, at the same time, control the deepest levels of the operating system. To work, rootkits must first gain system privileges and go on to directly interact with the kernel, the area of an operating system reserved for the most sensitive functions. The FudModule variants discovered by AhnLabs and ESET were installed using a technique called “bring your own vulnerable driver,” which involves installing a legitimate driver with known vulnerabilities to gain access to the kernel.
Earlier this year, researchers from security firm Avast spotted a newer FudModule variant that bypassed key Windows defenses such as Endpoint Detection and Response, and Protected Process Light. Microsoft took six months after Avast privately reported the vulnerability to fix it, a delay that allowed Lazarus to continue exploiting it.
Whereas Lazarus used “bring your own vulnerable driver” to install earlier versions of FudModule, group members installed the variant discovered by Avast by exploiting a bug in appid.sys, a driver enabling the Windows AppLocker service, which comes preinstalled in Windows. Avast researchers said at the time the Windows vulnerability exploited in those attacks represented a holy grail for hackers because it was baked directly into the OS rather than having to be installed from third-party sources.
As I’ve noted before, Internet security is hard. Neither Mac nor Linux are entirely free of such exploits, but they seem to be a lot less frequent. Log4J wasn’t a Linux kernel exploit, but everyone (rightly) freaked out over it because Log4j was used everywhere and it let attackers install malicious code on your server.
Microsoft patching ten zero day exploits suggests that there’s a big problem up in Redmond. You would think the zero day vulnerability numbers would be going down, not up. I wonder if we might be seeing that start of widespread AI use to find vulnerabilities in software.
More signs of the Biden Recession, the DOJ wants to put its thumb on the scale against Trump again, more Secret Service incompetence comes to light, more Kamala cringe, a bunch of lawsuit news, and a metric ton of Babylon Bee links. It’s the Friday LinkSwarm!
I keep thinking I’ll keep the LinkSwarms to shorter lengths, and the world continues not to cooperate.
The start of the third quarter saw a deterioration in business conditions at US manufacturers as new orders declined for the first time in three months, according to S&P Global.
This makes sense as we have seen ‘hard’ US macro data serially disappoint for three months.
S&P Global US Manufacturing PMI falls to 49.6 in July, dropping into contraction for the first time since Dec 2023.
ISM Manufacturing PMI plunged to 46.8 (48.8 exp) – weakest since Nov 2023 (near post-COVID lockdown lows)
The FBI is going to resume its coordination with social-media companies on content moderation ahead of the 2024 election, after the Supreme Court dealt a blow to free-speech advocates who argue the federal government’s close cooperation with Big Tech firms violates the First Amendment.
According to a Department of Justice memo drafted earlier this month, the FBI “will resume regular meetings in the coming weeks with social media companies to brief and discuss potential [Foreign Malign Influence] threats involving the companies’ platforms.”
By “Foreign Malign Influence,” what they mean, of course, is “the possibility of a Trump victory.”
The memo is featured in a report from DOJ Inspector General Michael Horowitz on the effectiveness of the department’s information-sharing system for monitoring foreign threats to U.S. elections. National Review has reached out to the FBI for comment on the memo.
Horowitz recommended the DOJ increase its transparency around the policies it put in place to ensure information sharing does not trample on the First Amendment, and to ensure the coordination strategy evolves to keep up with ever-changing foreign threats. The report’s appendix says both of the recommendations have been taken up by the DOJ, and requests documentation of the FBI’s outreach to social-media companies over the coming months.
The FBI’s Foreign Influence Task Force (FITF) and local offices will be tasked with building relationships with social-media companies in areas under the purview of various FBI field offices. As part of this outreach strategy, FBI officials are being instructed to make companies aware of the new standard operating procedure for monitoring suspected foreign influence operations online.
I’m so old that I remember when the primary duty of the FBi was to solve crimes, not to aid the Democratic Party…
Acting Secret Service Director Ronald Rowe was directly involved in denying additional security resources and personnel, including counter snipers, to former President Trump’s rallies and events – despite repeated requests by the agents assigned to Trump’s detail in the two years leading up to his July 13 attempted assassination, according to several sources familiar with the decision-making.
Rowe succeeded former Secret Service Director Kimberly Cheatle, who resigned last week after bipartisan calls following her widely panned testimony before the House Oversight Committee. But both Rowe and Cheatle were directly involved in decisions denying requests for more magnetometers, additional agents, and other resources to help screen rallygoers at large, outdoor Trump campaign gatherings.
It was Rowe’s decision alone to deny counter sniper teams to any Trump event outside of driving distance from D.C., these sources asserted.
Criminal negligence all the way down:
🚨🚨🚨 EXCLUSIVE: A Secret Service counter sniper sent an email Monday night to the entire Uniformed Division (not agents) saying he will not stop speaking out until "5 high-level supervisors (1 down) are either fired or removed from their current positions." The counter sniper… pic.twitter.com/0dg99EESQk
The Democratic Party ruling class’s bloodless coup of their own democratically elected presidential nominee, who also happens to be the nominal sitting president of the United States, is one of the most astonishing political developments of my lifetime. Joe Biden, though clearly physically and mentally impaired, has sought the presidency for quite literally longer than I have been alive. Biden had been defiant ever since the June 27 presidential debate debacle that he was not going anywhere, despite overwhelming pressure from party elites and sycophantic media lapdogs demanding he do precisely that. He has a Lady Macbeth-like wife who craves power, and he has a felonious son in desperate need of a presidential pardon.
Yet the coup succeeded. Biden became the first incumbent president to not seek reelection after his first term since Lyndon B. Johnson in 1968. Biden made the much-anticipated announcement—not with a solemn Oval Office address—three days later, and he didn’t even explain his decision. Rather, he issued a bedridden tweet from a personal, not even official, account. It’s the equivalent of divorcing your wife over text message. As if that weren’t crazy enough, the announcement came smack in the middle of a five-day period in which Biden was not publicly seen and during which he apparently experienced an unspecified medical emergency. Suspicious much?
The Democrats’ decision to coup their own president is a curious one, on the political merits.
Hold aside the galling hypocrisy of the purported party of “democracy” trying to remove former President Donald Trump from the ballot under an outlandish constitutional theory while simultaneously attempting to bankrupt, prosecute and incarcerate him on equally spurious grounds. Hold aside the self-proclaimed party of “democracy,” feigning ignorance over how its overheated rhetoric laid the seeds for their political opponent’s recent near-assassination and its continuing to depict that opponent as an existential threat to the American constitutional order. And hold aside that purportedly “democratic” party deposing its own presumptive elected nominee—a stark reversal from its presidential primary, when party poobahs worked hard to shut out all viable competition. Somewhere in Minnesota, Dean Phillips would like a word.
Hold all that aside. Because even on its own terms, the coup of Biden for cackler-in-chief Kamala Harris is going to spectacularly backfire on the Democrats.
Already, Democrats and the corporate media have been working hard to “define” Harris for the American people. At times, this has included some rather dubious retconning, such as magically pretending she wasn’t the Biden administration’s appointed “border czar.” (She was.) But the even bigger problem for Democrats is that Harris is not an unknown commodity. On the contrary, she is a very well-known commodity—one who just happens to be about as popular with the American public as venereal disease.
Harris’ current average approval rating is under 38%, and an NBC News poll last June found her to be the single least popular vice president in American history—only 32% of Americans had a positive view of her, putting her 17 points underwater. Harris’ 2020 presidential campaign was an absolute dud, self-imploding well before the first primary votes were cast. And as recently as a month or two ago, Democratic elites were openly discussing whether she could still be dropped as Biden’s 2024 running mate. Funny how quickly one can go from the weakest link to the great savior of “Our Democracy.”
Practically, the path to winning 270 Electoral College votes still runs through the Rust Belt states of Pennsylvania, Michigan and Wisconsin. It is frankly bizarre for Democrats to swap out the man who talks ceaselessly about his hardscrabble Scranton upbringing for a Californian who boasts the most left-wing voting record of any presidential nominee in modern history. Do Democrats really think Harris’ support for the Green New Deal and a national fracking ban will play well in the Marcellus Shale of Pennsylvania or in the auto factories of Detroit? Will white working- and middle-class voters concerned about skyrocketing crime look favorably upon Harris’ enthusiastic support for the 2020 Black Lives Matter riots, which racked up $2 billion worth of property damage?
Tucson-based World View, cofounded by now-U.S. Sen. Mark Kelly in 2012, received venture capital from Tencent — among the largest tech companies in China — both in 2013 and 2016. Tencent, like most Chinese tech giants, has close ties to the Chinese Communist Party….
Spy balloons partially funded by ChiComm ties? Like, how is this considered a totally normal business for a Senator to be in?
Not sure how much you can trust Seymour Hersh, but he says that Obama is the one who finally pushed Slow Joe out, threatening to invoke the 25th Amendment on him. He also says Obama is pulling Kamala’s strings. So there’s that.
Early in the morning, the FBI raided the home of Linda Sun, a former official for Gov. Kathy Hochul’s administration. Sun served as Hochul’s deputy chief of staff for a year. Before that, she was the deputy superintendent for intergovernmental affairs and chief diversity officer under disgraced former Governor Andrew Cuomo. The federal officers searched the $3.5 million home, which resides in the exclusive neighborhood of North Shore.
That’s on top of a raid aimed at Winnie Greco, a top aide to New York Mayor Eric Adams.
While the left is trying it’s hardest to recast Kamala Harris as a moderate Democrat – quietly scrubbing her public record over the past 5 years – her actual positions have always been radical.
For starters, she’s on record wanting to abolish ICE (which she compared to the KKK), letting criminals like the Boston Marathon bomber and rapists vote, ban fracking and offshore drilling, defund the police, provide US taxpayer subsidized healthcare to illegals, and ban private health insurance.
Meanwhile, during 2020 Democratic primary debate Harris said that if elected president, she would “ban by executive order the importation of assault weapons.”
She also said she would reinstate Deferred Action for Childhood Arrivals (DACA) status and DACA protection for illegal immigrants, and end other Trump-era immigration policies.
And in multiple speeches and interviews, Harris insisted America needed racial ‘equity’ as well as ‘equality.’ In other words, she endorses ‘equality of outcomes’ over ‘equality of opportunity.’
As The Federalist pointed out on Tuesday:
She Supported Bailing Out 2020 Rioters
Accused rapists, repeat offenders, and rioters alike benefitted in June 2020 when Harris encouraged her social media followers to donate to a bail fund dedicated to those arrested for their months-long, $2 billion siege of cities like Minneapolis. The vice president later lied about her involvement in the money-raising scheme.
She Put Other Countries’ Borders Before Her Own
Harris traveled thousands of miles away from the U.S. border invasion she was tasked with handling to deliver “peace and security” to the borders of Ukraine, which “is a country.”
She Proudly Enabled the Jussie Smollett Race Hoax
Harris called the staged hate crime an “attempted modern-day lynching.” She did not apologize even after Smollett was found guilty of felony disorderly conduct and making false police reports.
She Sponsored Legislation That Would Codify Abortion Through All Nine Months
As a senator, Harris was a proud co-sponsor of the original version of the “Women’s Health Protection Act,” which sought to codify abortion through all nine months of pregnancy.
She’s Openly Anti-Catholic
As a senator in 2018, Harris smeared Brian Buescher, a nominee for the U.S. District Court in Nebraska, for his affiliation with the famous Catholic fraternal organization Knights of Columbus and its historically pro-life views.
Flip, meet flop, as Kamala Harris tries to walk back all her radical positions.
In 2019, Kamala Harris was rated the ‘most liberal’ Senator in a now-scrubbed rating from GovTrack. She’s on record wanting to abolish ICE (which she compared to the KKK), letting criminals like the Boston Marathon bomber and rapists vote, banning fracking and offshore drilling, defunding the police, providing US taxpayer subsidized healthcare to illegals, and banning private health insurance.
According to the NY Times, “video clips of her old statements and interviews are being weaponized as Republicans aim to define her as a left-wing radical who is out of step with swing voters.”
“The archive is deep,” said Brad Todd, a Republican strategist and ad maker who is working with David McCormick, the G.O.P. Senate candidate in Pennsylvania, among other campaigns. “We will run out of time before we run out of video clips of Kamala Harris saying wacky California liberal things. I’m just not sure that the rest of this campaign includes much besides that.”
To that end, McCormick’s campaign has produced one of the first TV ads to attack Harris on her longstanding positions.
Yet, according to the Times, nevermind all that- Harris is now a reformed moderate – and has suddenly reversed course on virtually all of her most radical views.
On Friday, the Harris campaign announced that she no longer wants to ban fracking – a ‘significant shift’ from where she stood four years ago. She’s also reversed course on funding for border enforcement, no longer supports a single-payer health insurance program, and has walked back liberal fever dreams of a mandatory gun buyback.
She is no longer pushing for a single-payer health care system, and on Friday her campaign said she would maintain Mr. Biden’s pledge not to raise income taxes on people making less than $400,000 per year. -NYT
Packing the Court? Nah…
On Monday, as Mr. Biden prepared a speech in Texas calling for term limits and ethics guidelines for Supreme Court justices, the Trump campaign resurfaced statements Ms. Harris made in 2019 saying she was “open to this conversation” about expanding the Supreme Court. Ms. Harris, in a statement released by her campaign, endorsed Mr. Biden’s proposal, which does not call for adding additional justices to the court.
According to Matt Bennett, a co-founder of Third Way, a moderate Democratic think tank, Harris has ‘evolved’ into a Biden style centrist (if centrism is defined as letting 20+ million illegals into the country and cooking Americans with inflation).
“There’s a tremendous difference in changing one’s policy ideas and changing one’s principles,” said Bennett. “She has not changed her principles. She still thinks climate change is an existential threat — she just doesn’t think the Green New Deal is the way to address it.”
Sure Matt.
The Times also hints that Harris is essentially an idiot who didn’t really understand her own positions while running for president in 2020.
…during that race, Ms. Harris also often appeared as if she were not sure what she believed. In a CNN town-hall event the day after what was widely viewed as a successful campaign rollout in Oakland, Calif., she appeared tentative while discussing health care policy, eventually saying she would eliminate private health insurance and institute a single-payer health care program.
She would go on to propose an array of policies popular with progressives. She sought to increase pay for public-school teachers by an average of $13,500 through a bump in the estate tax.
She also called for an assault weapons ban and said she would sign an executive order mandating background checks for customers of any dealer who sold more than five guns in a year.
Minnesota governor Tim Walz is on the short list to be Vice President Kamala Harris’s running mate. This is almost laughable when you look at Walz’s record running the state government, which somehow manages to combine the honesty of former Illinois governor Rod Blagojevich, the competence of former Louisiana governor Kathleen Blanco, and the sharp-eyed ethical-watchdog instincts of soon-to-be-former New Jersey senator Bob Menendez. A whole lot of shady and unethical people in Minnesota see the state government as a giant pile of money just waiting to be taken, with a sleepy guard in the form of the governor.
“J. D. Vance is weird.” Yeah, the modern Democratic Party is the last set of people who should be accusing others of weirdness…
“Did the Israelis just take out two key leaders in Iran’s proxy armies? Just hours after announcing that a strike in Beirut killed Hezbollah’s top military commander, the Iranian state media announced that Hamas chief Ismail Haniyeh had been “martyred” in Tehran. Haniyeh had just arrived there to meet the newly elected president.” Reports say he stayed in the same room in the same complex every time he visited, so Israel managed to sneak a bomb under his bed several months ago…
“Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute. The study compared the three worst periods of decline in Canada in the last 40 years – the 1989 recession, the 2008 global financial crisis, and this post-pandemic era. They found that, unlike the previous recessions, Canada is not recovering this time. Something broke. In fact, according to the Financial Post, since 2019 Canada’s had the worst growth out of 50 developed economies. Inflation-adjusted Canadian wages have been flat since 2016.” That’s what happens when you elect socialist asshats like Justin Trudeau.
Like the electoral blowout feared by national Democrats with Biden at the top of the ticket, Phelan’s abysmal record of the Texas House under his mismanagement resulted in a political disaster; more incumbent Republicans lost their primary re-election campaigns than any time in modern history.
Phelan himself is damaged goods, politically. He outspent his primary opponent by a 5-to-1 margin yet garnered a “win” of less than 700 votes in a race that saw a couple of thousand Democrats flip primaries, clearly to “help” him.
Everyone in the House knows that their defeated colleagues earned challengers because Phelan made them vulnerable… and then left them to go down in defeat.
But he is, for now, still the speaker… in name, anyway.
Lt. Gov. Dan Patrick was publicly done with Phelan more than a year ago after the speaker and his cronies sent a deeply flawed, legally problematic, and factually vacuous “impeachment” of Attorney General Ken Paxton to be sorted out by the Senate.
The Democratic Party’s social justice agenda in action: “At least eleven transgender-identifying male felons are currently housed at a formerly women-only prison in Washington State. Many of them committed violent crimes against women and children before they entered the Washington Corrections Center for Women (WCCW), colloquially known as ‘Purdy.'”
Speaking of which, the NFL’s $4.7 billion antitrust judgement was just overturned. “The jury’s damages verdict was otherwise unsupported by the evidence.”
“A Bakersfield College professor who was investigated and disciplined after he questioned the use of grant money to fund social justice initiatives at his school has agreed to a $2.4 million settlement to resolve his lawsuit.” Keep hitting them in the pocketbook…
Bungie games, of Destiny and Halo fame, just laid off a bunch of staff. Official line says 17% of the company, but elsewhere I’m hearing the true total is closer to 40%. Microsoft bought then spun out Bungie, and Sony bought them in 2022.
More dirt comes out about the (intentionally?) shoddy security at Trump’s Butler rally, Netanyahu addresses congress, China bribes some Democrats, Israel hits the Houthis, Redbox users are screwed, and Sanrio upends the world with a shocking revelation. It’s the Friday LinkSwarm!
More whistleblowers are coming forward with damning allegations about the law-enforcement failures surrounding the failed assassination attempt on former president Donald Trump.
Whistleblowers with “direct knowledge” of the Department of Homeland Security’s (DHS) handling of the Trump rally in Butler, Pa., last weekend came forward to Senator Josh Hawley (R., Mo.) alleging that the rally was a “loose” security event featuring personnel drawn from a different wing of DHS who were not trained for such an event.
“Whistleblowers who have direct knowledge of the event have approached my office. According to the allegations, the July 13 rally was considered to be a ‘loose’ security event. For example, detection canines were not used to monitor entry and detect threats in the usual manner. Individuals without proper designations were able to gain access to backstage areas. Department personnel did not appropriately police the security buffer around the podium and were also not stationed at regular intervals around the event’s security perimeter,” Hawley wrote in a letter sent Friday to DHS Secretary Alejandro Mayorkas.
“In addition, whistleblower allegations suggest the majority of DHS officials were not in fact USSS agents but instead drawn from the department’s Homeland Security Investigations (HSI). This is especially concerning given that HSI agents were unfamiliar with standard protocols typically used at these types of events, according to the allegations.”
Embattled Secret Service director Kimberly Cheatle resigned on Tuesday after her refusal to answer basic questions in front of a congressional committee drew bipartisan calls for her resignation.
Cheatle stepped down ten days after the assassination attempt against former president Donald Trump, one of the most significant law-enforcement failures in American history, and the defining moment of her law-enforcement career.
Snip.
At a hearing with the House Oversight Committee Monday, Cheatle brought Republicans and Democrats together in calling for her resignation. She repeatedly failed to answer basic questions about what went wrong at Trump’s rally in Butler, Pa., instead deflecting to the Secret Service’s ongoing investigation and the FBI’s separate investigation.
Cheatle admitted the assassination attempt was the Secret Service’s most consequential failure in decades, but did not disclose much information, despite being under subpoena.
She did not have a specific timeline of what law enforcement did after the shooter was first discovered, failed to explain why agents were not deployed onto the rooftop the gunman equipped, declined to comment on specific personnel assignments for the Trump rally, did not elaborate on why the rooftop was outside of the Secret Service’s perimeter, would not commit to firing anyone involved with the Trump rally, and deflected each time Trump’s requests for enhanced security came up.
She did tell lawmakers that she had not visited the crime scene, nine days after Trump was wounded when a bullet grazed his right ear. After the attack, Cheatle said she called Trump to apologize.
The Secret Service will have an internal report on what went wrong at the Trump rally in 60 days, a timeline multiple lawmakers told Cheatle is unacceptable given the intensity of the presidential campaign and America’s political climate.
We're only starting to dig into the cover-up of Biden's cognitive decline. Everyone knows Kamala Harris is going to be under the microscope.
But key to the cover-up was Kim Cheatle. Look at her record (detailed below), and it's clear she was hired to help conceal from the… pic.twitter.com/Q9uHlhgm0E
Never in modern presidential history has a political party staged a veritable inside coup to remove their current president from his ongoing candidacy for his party’s nomination and reelection.
Stranger still, the very elites and grandees, who now are using every imaginable means of deposing Biden as their nominee, are the very public voices that just weeks ago insisted that candidate Biden was “sharp as a tack” and “fit as a fiddle.” And they damned any who thought otherwise!
They are also the identical operators whose machinations ensured that there would not be an open Democratic primary. They demonized the few on the Left who weakly challenged Biden in the primaries. Yet now they will select a replacement candidate who likely never received a single primary vote.
Note further: Biden’s impending forced abdication is not because he is non compos mentis.
Rather, the inside move is due to Biden’s disastrous debate exposure that confirmed his dementia could no longer be disguised by a conspiracy of leftist politicos and media.
But far more importantly, the impetus for removal is driven by the admission that the cognitively Biden is headed for a climactic November defeat.
Were Biden now ahead in the polls by five points, these same backroom machinists would be insisting that he was still Pericles.
Yet now Biden is being un-personed and Trotskyized, as we prepare the new groupthink narrative of his likely surrogate—a soon to be praised eloquent, mellifluous, and articulate Cicero-Harris.
That Biden will likely remain as president until January 20, 2025, should remind the country the Left is more worried about its own next four-year continuance in power than the fate of the country that now admittedly will be guided in the next six months by a president judged unfit by his own supporters to run for the very office that he will still keep holding.
Further irony arises when those who, as supposedly guardians of democratic norms, pontificated to the country the last nine years about the Trump-Hitlerian threat to democracy. Yet now they so cavalierly work overtime on how:
a) to pull off the removal of their candidate from the November ballot on grounds of senility,
b) but not the removal of the same president from office (their own fate is more precious than our collective fate as a nation),
c) while trying to select, rather than elect, a replace candidate,
d) without ever offering any explanation, much less an apology, how a Democrat president from January 20, 2021, was daily declared vibrant, dynamic, and engaged but suddenly one day after June 27, 2024, was remanufactured as not?
In this report on cell phone location (presumably from publicly-sourced advertising data, which should terrify you), the Heritage Foundation claims one device that regularly visited the Crooks home was tracked to DC near an FBI office.
Also strange was the fact that a device linked to the Crooks home had visited Butler twice in the week or so before the shooting (an hour and twenty minute drive).
Another device repeatedly visited Plymouth, Massachusetts, although how that connects to the Trump shooting is unknown.
Going back to last August, one device visited a local gun shop (again, not suspicious for an American to visit a gun shop unless this was the visit where the AR was purchased).
If this proves to be true link between the FBI and Crooks, the implications here are pretty frightening…
While Israeli Prime Minister Benjamin Netanyahu was addressing congress, the pro-Hamas Useful Idiot Brigade was busy vandalizing national monuments.
Thousands of demonstrators filled the streets of downtown D.C. carrying signs with messages like “arrest Netanyahu” and “end all U.S. aid to Israel.” Groups waving Palestinian flags, and chanting “Free, free Palestine,” marched toward the U.S. Capitol.
Outside Union Station, protesters removed American flags and hoisted Palestinian ones in their place. The Columbus Memorial Fountain in the circle outside the station was defaced with the words, “Hamas Is Coming,” written in red paint. Other monuments, like the Freedom Bell and various statues, also suffered damage. FOX 5’s Stephanie Ramirez says law enforcement is preparing for more possible protests Thursday.
U.S. Capitol Police officers deployed pepper spray after they said some protesters became “violent” and “failed to obey” orders to move back from the police line.
Israeli prime minister Benjamin Netanyahu had harsh words for anti-Israel protesters in his Wednesday address to a joint session of Congress, slamming the activists as “useful idiots” for Iran and other bad actors even as they congregated outside the Capitol.
“Defeating our brutal enemies requires both courage and clarity,” he said. “Clarity begins by knowing the difference between good and evil. Yet, incredibly, many anti-Israel protesters choose to stand with evil. They stand with Hamas. They stand with rapists and murderers. They stand with people who come into the kibbutzim — into the home — with the parents and the children, the two babies in the secret attic, and murder the parents, find the secret latch to the attic, find the babies, and they murder them. These protesters stand with them. They should be ashamed of themselves.”
Netanyahu referenced the claims from many anti-Israel protesters that Hamas terrorism constitutes legitimate resistance while Israel’s retaliatory war is out of bounds.
“They refuse to make the simple distinction between those who target terrorists and those who target civilians — between the democratic state of Israel and the terrorist thugs of Hamas,” he told the chamber.
The prime minister stressed in his speech that anti-Israel protesters are not just opposed to the existence of the Jewish state but are anti-American as well.
“These protesters burn American flags even on the Fourth of July.”
According to the 3,000-participant, three-year study from the National Bureau of Economic Research, giving people $1,000 per month increased leisure time, as recipients spent less time on sleeping, child care, community engagement, caring for others, and self-improvement.
The study also found that recipients’ income, not including the free money, reduced their incomes significantly, as “for every one dollar received, total household income excluding the transfers fell by at least 21 cents, and total individual income fell by at least 12 cents.”
“The takeaway from the best study done so far about UBI in the United States is that handing out money isn’t the solution to all our problems,” Daniel Di Martino, a economics researcher and graduate fellow at the Manhattan Institute, told The Center Square. “In fact, sometimes it makes things worse.”
Or they could have read pages 150-152 of Charles Murray’s Losing Ground: American Social Policy 1950-1980 for his summary of the results of the SIME/DIME experiments, which were similarly bleak.
After letting camps of drug-addicted transients overrun his state for years, California’s Democratic Governor Gavin Newsom decides that he can finally start clearing out those camps, now that he has the cover of a Supreme Court ruling.
California governor Gavin Newsom directed state officials to remove homeless encampments across the Golden State on Thursday after the Supreme Court ruled in June that local governments have a right to ban public camping and impose fines for violators.
Newsom announced the guidance in an executive order, advising cities to crack down on encampments on public property while providing social services and housing alternatives. The order, first reported by the New York Times, represents a sharp departure from the accommodative homelessness policies adopted by progressive state governments over the last decade.
Note that “providing social services” means that the Homeless Industrial Complex will still be able to rake off the graft…
Food for thought:
Democrats are rigging their own election. Does anyone still believe they didn’t rig the 2020 election? https://t.co/G3svXIpKmp
CBS said nearly half of Americans can’t afford healthcare, but for some reason didn’t mention ObamaCare.
Americans spend more money on health care on a per capita basis than people in any other developed nation, yet almost half say they’ve struggled recently to pay for medical treatment or prescription drugs, according to a new study from Gallup and West Health.
About 45% of those polled by the organizations said they’d recently had to skip treatment or medicine either because of cost or lack of easy access. Of those, about 8% said they also wouldn’t have access to affordable care if they required it today, a group that Gallup and West Health termed ‘cost desperate.’
Snip.
The Affordable Care Act, known as Obamacare, became law back in 2010, and President Obama promised Americans that his legislation would “reduce the costs of health care” and that “families will save on premiums.” He said Americans could even keep their doctors and health plans – over and over again, in fact.
Instead, here’s what Obamacare did, according to America First Policy Institute:
Premiums have increased by 80%.
From 2010 to 2023, the average premium for family coverage increased 80%, from just over $13,000 to nearly $24,000.
Total healthcare costs for a family of four now exceed $30,000 per year — increasing from $18,000 per year when Obamacare was passed.
Deductibles have increased over 50% since Obamacare was implemented in 2013.
Speaking of Obama, he officially endorsed Harris, which presumably puts a surprise Michelle Obama nomination at the convention off the table.
Well you can add this to a list of reasons Democrats just can’t seem to stomach Elon Musk any more.
The U.S. subsidiary of Chinese electric vehicle manufacturer BYD and its top executive, Stella Li, have donated hundreds of thousands of dollars to Democratic candidates and organizations over the past decade.
A review of federal and state political spending records by the Daily Caller News Foundation reveals these contributions.
They found that between 2020 and 2023, BYD and Stella Li contributed over $40,000 to the Democratic National Committee (DNC).
Additionally, they have invested more than $30,000 into organizations supporting President Joe Biden’s 2024 reelection campaign.
BYD, the world’s largest EV producer, was recently banned by Congress from selling batteries to the Pentagon due to security concerns, according to Bloomberg News.
The report says that between 2018 and 2023, Democratic California Gov. Gavin Newsom received about $60,000 from Li and BYD USA. Newsom faced criticism for awarding BYD a $1 billion no-bid contract for protective equipment during the pandemic and later test-drove a BYD vehicle in China in 2023.
Former Los Angeles Mayor Antonio Villaraigosa received over $10,000 from Li for his unsuccessful 2018 gubernatorial campaign, while the California Democratic Party got about $19,000 from Li and BYD USA between 2018 and 2020.
In 2015 and 2016, BYD USA and its executives donated over $11,000 to Michael Antonovich, former Chair of the Los Angeles County Board of Supervisors, who often supported BYD-friendly initiatives.
Additionally, BYD USA contributed $25,000 in 2018 to Californians For Safe, Reliable Infrastructure, a group opposing Proposition 6, which aimed to repeal a gas tax.
In 2017 and 2018, BYD USA and Stella Li donated over $19,000 to Los Angeles City Councilman Kevin de Leon. De Leon, then President pro Tempore of the California Senate, praised BYD at a 2017 ribbon-cutting for its Lancaster manufacturing facility, emphasizing the company’s role in job creation.
There’s an old saying in politics that “personnel is policy” which refers to a lot more than just having someone competent in the job. It’s a reflection that politics is about coalitions – building them and maintaining them. The coalition members get their cut of the government largess, and pay for it with loyalty to the guy at the top. If they’re not loyal, he gives them their pick slip and they lose the largess.
This was actually Trump’s biggest mistake when he was president, not filling the Federal Government with his coalition. In his defense, he was in the middle of a Republican civil war, where there were multiple factions and multiple coalitions.
That’s exactly what the Democrats face now, and why they can’t put Humpty-Dumpty back together. Because there are multiple coalitions, whoever emerges on top won’t know if he (she?) can trust these coalitions because they aren’t his coalitions. They might be able to be integrated into his coalition, given time, but time is exactly what the Democrats do not have right now.
It takes time to forge a governing coalition – just look at any parliamentary system: when the government is stable it is because the governing coalition is solid. Ministers can issue policy with a reasonable expectation that it will be supported and carried out by the coalition members. When the governing coalition is unstable, chaos results. Orders get ignored or slow walked or subverted because the Minister no longer has the loyalty of the coalition members.
Eventually a leader emerges who can attract key talent from outside coalitions and integrate it into his. This will involve rewards like positions in the bureaucracy or some such – featherbedding is the name of this game. But until this all gets sorted out and the new coalition is filled with people who think they’re better off with the new leader than without, nothing is going anywhere.
Even worse, there will always be serious back stabbing between different coalitions. Trust is not a virtue most politicians hew to, and quite frankly until they are in a position to remove perks as well as give them, they would be a fool to trust just about anybody.
Some day a leader will emerge to stitch together the various coalitions that make up the Democratic party. It won’t happen in the next 100 days, sure as God made little green apples.
The biggest implication of this is that it will be much more difficult for the Democrats to “fortify” the upcoming election via 2020-style shenanigans. Sure, the party bosses will want to, but how much do they trust the other coalitions to support them? Would other coalitions even go so far as to rat them out (with plausible deniability, of course) – leading to various party elders behind bars. That certainly would make it easier for other party elders to construct a winning coalition once they’ve taken out some of the competition.
Althouse: “Joe Biden seems bereft of the ordinary tools of human interchange.”
“Visibly Angry Kamala Harris Lashes Out At Israel After Netanyahu Meeting.” Of course she did. How dare Israel defend itself when she needs to suck up to all those pro-Hamas voters Democrats insisted on importing to Michigan?
Dispatches from the Biden Recession: Commercial real estate bond default rates hit “8.7% in 2024, nearly three times higher than two years ago.”
“Judge Rules for Musk’s SpaceX in Lawsuit Against National Labor Relations Board.” “Members of the National Labor Relations Board (NLRB), and administrative law judges (ALJ) employed by the board, are likely unconstitutionally protected from removal by the president, according to U.S. District Judge Alan Albright.”
Israel hits the Houthis. Looks like Israel is kicking just about all Iran’s catspaws in the nuts…
According to an indictment filed with the federal court, beginning in 2021 defendants working for or with AABLE Bonds of Houston created or co-signed fraudulent bond agreements that allowed non-qualifying suspects to obtain pre-trial release.
“An integral part of the criminal justice system, as old as the system itself, is the bail bond – a device that allows defendants temporary release while awaiting trial by guaranteeing future court appearances,” said U.S. Attorney Alamdar S. Hamdani in a statement. “Honesty in the underwriting of those bail bonds is essential to ensuring compliance and protecting the community. However, this indictment alleges employees of AABLE Bonds and many others conspired to violate that trust.”
In addition to the 50 arrested, officials are seeking three fugitives: Tawana Jones, 44, Pamela Yoder, 60, and Amir Khan, 60.
The U.S. Attorney’s Office stated that co-conspirators allegedly emailed or submitted falsified co-signer financial reports via electronic communications. The office noted that the government and insurance agencies rely on these financial reports to enter into third-party agreements known as surety bonds.
Most of the 53 co-conspirators are charged in connection to alleged conspiracy to commit wire fraud, while AABLE Bonds CEO Sheba Muharib is charged with affecting persons engaged in the business of insurance.
The 11 named criminal defendants who obtained release under the allegedly fraudulent enterprise include Curtis Holliday, who has pleaded guilty to killing his wife and stuffing her body in a freezer. Another is the man who shot to death 17-year-old David Castro as the teen rode in a car with his family after an Astros baseball game in 2021.
David’s father Paul Castro noted on social media that Muharib had bonded out his son’s killer on a discount bond, but he also pointed to the role played by Harris County Justice of the Peace Angela Rodriguez.
“Remember that Judge Angela Rodriguez voted to renew Muharib’s bond license after Muharib showed herself to be a danger to our community,” wrote Castro.
Muharib has been the focus of investigations for several years. Her brother Wisam Muharib provided bail to a murder suspect who was later charged in the murder of Harris County Constable Deputy Omar Ursin.
Andy Kahan, Victim’s Advocate for Crime Stoppers of Houston, emphasized during a press conference Thursday that there were victims impacted by the fraudulent releases of suspects.
During the press event, resident April Aguirre said that after the man charged in the shooting death of her nine-year-old niece Arlene Alvarez was released on a bond by AABLE Bonds, her family became suspicious of some local bail bond companies.
Aguirre, Castro, and others worked with elected officials to change Harris County’s rules in 2022 to require that suspects charged with violent offenses pay at least 10 percent themselves to ensure release from jail, but during a press conference with Crime Stoppers of Houston, she said they suspected fraud was continuing.
“Murderers were still getting out on discounted bonds,” said Aguirre. “So, we started making complaints to the bail bond board and to our federal partners asking for help. We didn’t know what we were dealing with, and we could never have imagined how large this is.”
“But I can say one thing, we need to stop making money off dead children and we need to stop making money off of homicide victims. This should not be a lucrative business, it’s sick.”
Mario Garza, President of the Professional Bondsman of Harris County, said that there were bondsmen who followed the rules and helped support the criminal justice system but lamented that what was supposed to be a partnership between bondsmen and elected judges had broken down.
“Judges used to take that discretion seriously,” said Garza. “What we have is what’s morphed out a soft-on-crime criminal justice system that’s allowed a company like this to do what they’ve done.”
Kahan expressed concern that bail bond companies elsewhere may be operating similar schemes.
Cann’s files for Chapter 11 and will be closing 9 Texas stores, including one in Austin. When I was getting ready to move into my house in 2004, they were one of the stores I thought about buying appliances from, but people told me they hated dealing with Conn’s, so I ended up buying them from Lowes.
“Portland State University Professor Bruce Gilley who was blocked from the Twitter account of the University of Oregon’s Division of Equity and Inclusion after tweeting ‘All men are created equal.'”
Unclear on the concept: “California judge says school was justified in punishing 7-year-old who said all lives matter because ‘she’s too young to have First Amendment rights.'”
Intel says it’s software, not hardware that is causing its latest generation of chips to fail. “Our analysis of returned processors confirms that the elevated operating voltage is stemming from a microcode algorithm resulting in incorrect voltage requests to the processor.” OK, microcode is embedded in the heart of the chip, but can be updated, which means that it doesn’t require expensive mask fixes.
The CDC is trying to keep people from importing dogs into the U.S.. This is going to impair the efforts of many dog rescue groups. A bipartisan group of senators is opposing. “The unprecedented requirements included in the final rule, such as the six-month minimum age requirement for dogs to enter the United States and the need for a microchip before a rabies vaccination and additional documentation and certification would create significant barriers to low-risk entry from Canada into the United States and have a disproportionate effect on border communities in our states.”
Everyone who “purchased” a movie from Redbox is now screwed because now that Redbox is bankrupt it turns out they’ve got nada.
If I’m reading between the lines here, Social Justice Warriors seized control of the Romance Writers of America, blew it up when they got caught, and left the organization $3 million in debt.
“Judge Refuses To Dismiss Trump Defamation Lawsuit Against ABC, Stephanopoulos. On Wednesday, a federal judge rejected a motion by ABC News and George Stephanopoulos to dismiss the defamation lawsuit filed against them by former President Donald Trump.”
The assassination attempt against President Donald Trump was less than a week ago and a ton of news has come down the pike since. Biden replacement rumors fly hot and heavy, Trump secures renomination, Windows machines across the globe are down thanks to CrowdStrike, a League of Assholes rises in Africa, Chuy’s gets sold, and we say goodbye to a comedy legend. It’s the Friday LinkSwarm!
The 81-year-old president repeatedly lost his train of thought on the call and was dismissive of the Democrats’ concerns about his 2024 re-election campaign following his train-wreck debate performance last month, Puck reported Wednesday, citing multiple sources…
‘The call was even worse than the debate. He was rambling; he’d start an answer then lose his train of thought, then would just say “whatever.” He really couldn’t complete an answer. I lost a ton of respect for him,’ one person on the call said.
‘The president was rambling, dismissive of concerns, unable or unprepared to present a campaign strategy,’ added a second source, who is a member of Congress.
Joe Biden’s escalating dementia and the long media-political conspiracy to hide his senility from the public are the least of the Democrats’ current problems.
Biden’s track record as president may be more concerning than his cognitive decline. He has literally destroyed the U.S. border, deliberately allowing the entry of more than 10 million illegal aliens. His callous handlers’ agenda was to import abjectly poor constituencies in need of vast government services without regard for the current struggles of a battered American middle class and poor.
The widespread poverty of a vast new cohort of illegal immigrants could serve as indictments of a “racist,” “unequal,” and “unfair” America—as if the residents of East Palestine, Ohio or inner-city Chicago had anything to do with the centuries-long corruption and oppression of Mexico and Latin America that daily drives thousands of their own poorest citizens northwards to a society founded on very different ideas than those of their homelands.
Note that the left, neither in Mexico nor in America, never asks why millions of these impoverished people prefer to break into a supposedly racist America. Much less do they even distinguish those principles and values that once made America prosperous, free, and secure from their antitheses that have sadly made much of Latin America mostly poor, without freedom, and insecure.
Biden inherited near-zero real interest rates and inflation at 1.4 percent. Almost immediately, in nihilistic fashion, Biden did to a sound economy what he had done to a secure border. So, he recklessly printed money at a time of spiraling, quarantine-ending demand and supply chain disruption. Middle-class wages never caught up with Biden’s inflation, as prices for key staples are nearly 30 percent higher than when he took office.
The cost of servicing the ballooning national debt at high interest is now nearly $1 trillion per year. The world abroad is aflame, lit by Biden’s inexplicable withdrawal from Kabul, his mixed signals to Vladimir Putin on the eve of his invasion of Ukraine, his deliberate alienation of Israel, his appeasement of Iran and China, and his cuts in the defense budget, coupled with his woke war on mythical “racists” in the military.
Energy prices soared, even as Biden’s green agenda proved unworkable and prompted draining the strategic petroleum reserve and begging foreign oil despots before key elections. The “unifier” Biden by design needlessly alienated nearly half the country, and in his debate, he reiterated why Trump supporters do not deserve his concern. And more ominously and recently, Biden grossly told hundreds of his donors that “it’s time to put Trump in a bullseye”—just days before the attempt on Trump’s life.
The greatest absurdity of the Biden White House is the gaslighting talk of Biden’s “achievements.” Biden’s actions over the last four years are not offsets for his senility that warrant his continuance in office, but again, sadly, they serve as force multipliers, furthering claims of his dementia and for his removal.
I’ve been saying for a month or so now that I’m really impressed with the way that Trump has been conducting himself in this campaign. Yes, I was a fan before, but he’s really been hitting all the right notes this year, especially given the pressure of the the Democrats’ un-American lawfare assault on him.
The Donald J. Trump who took the stage in Milwaukee last night was a reflective, determined elder statesman and it was glorious. This is what my ultra mega super MAGA friend Kevin wrote about it:
Trump took to the stage with a bandage covering the wound left by the would-be assassin’s bullet. He kicked off his mesmerizing speech by thanking the GOP for the nomination and promising to stand for all Americans, stating: “We rise together or we fall apart.”
Trump’s speech was unlike any of his others. It lacked the bombast and sarcasm of earlier speeches, which I find entertaining. Instead, it focused on unity.
Trump’s sotto voce, conversational tone was perfect, and a counter to the angry maniac that the commies in the mainstream media like to portray him as. He was the adult in the room at a time when the Republic desperately needs that. His recounting of the assassination attempt provided yet another deeply emotional moment at this convention.
I’ve only briefly glimpsed some of the MSM hacks’ response to the speech, and it’s mostly been awful and not reality-based. They’re desperate and losing and their opinion doesn’t matter.
The man who accepted the Republican nomination last night is the man who this country needs to right the wrongs of the Biden administration’s wrecking ball reign of error.
Borepatch sees a preference cascade for Trump that may have the effect of minimizing cheating. “It’s one thing to stuff ballot boxes when you think that everyone on your side is on board and your guy is going to win – and any potential investigation will be done in the most slipshod manner. It’s quite a different thing when you wonder just how many of the guys on your side are actually going to go through with this, and if the other guy wins will you be facing 20 years in Club Fed.”
New York jury convicted Senator Bob Menendez (D., N.J.) on 16 felony charges on Tuesday, including obstruction of justice, acting as a foreign agent, bribery, extortion and honest services wire fraud.
Over the course of a two-month trial, prosecutors accused the three-term senator and his wife, Nadine Arslanian Menendez, of accepting bribes — including hundreds of thousands of dollars, gold bars, and a Mercedes-Benz convertible — from three New Jersey businessmen in exchange for help with a number of legal issues. Menendez was also accused of accepting bribes to work as a foreign agent on behalf of Qatar and Egypt while he served as chairman of the Senate Foreign Relations Committee.
Shortly after the verdict was handed down on Tuesday, Senate Majority Leader Chuck Schumer (D., N.Y.) urged Menendez to “do what is right for his constituents, the Senate, and our country, and resign.”
You know it’s been a pretty news-packed week when the conviction of a Democratic senator on bribery charges is this far down the LinkSwarm…
Kamala Harris has the same approval rating among Black women as President Biden, according to a new poll, which must come as a blow to the Vice President as Biden’s electoral fortunes falter.
And it comes as a surprise, as Black women have been pivotal for securing Harris her spot on the ticket.
The poll, conducted by Split Ticket between July 12 and 14, asked Black voters in battleground states of Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin about their opinions on Harris, as well as Biden and Donald Trump.
According to the poll, if the 2024 election was a toss up between Joe Biden and Donald Trump, 76 percent of Black voters would vote for Biden, compared to 17 percent for Trump. The gender split was 72 per cent of male voters and 79 percent of females backing Biden.
In contrast, 12 percent of Black women and 23 percent of Black men said they would vote Trump.
But if the election were a toss up between Kamala Harris and Donald Trump, the results were virtually the same, with an equal proportion of voters opting for Harris over Trump, and a split of 79 percent of Black women and 73 percent of Black men preferring the Vice President.
You know who else doesn’t want to vote for Democrats any more? Young male voters.
A years-long collapse in support for Democrats among young Gen Z “Zoomer” males accelerated to a dizzying speed during the Presidentish Joe Biden administration — and that’s before Donald Trump’s display of sheer damn manliness in the moments after Saturday’s assassination attempt.
The collapse began in 2016, the same year Donald Trump was elected to his first term in office — and, looking back, it seems almost inevitable. That was the year the American Left went from merely unhinged to flying off the rails like Doc Brown and Clara Clayton at the very end of “Back to the Future Part III.”
Daniel Cox — aka The Liberal Patriot — wrote Monday, “A mounting number of polls suggest that young voters are shedding their Democratic attachments” and that “the way young people relate to the two major political parties is undergoing a momentous change.”
A recent Pew study found that “young Americans are evenly divided between the parties: 47 percent lean towards or identify as Republicans and 46 percent identify as Democrats.”
Look at these other numbers from Gallup. They’re unsustainable for the so-called Party of Youth.
Democratic support among young men (18-29) collapsing
Federal appeals court blocks all of Biden student debt relief plan. “The St. Louis-based 8th U.S. Circuit Court of Appeals granted a request, by seven Republican-led states to put on hold parts of the U.S. Department of Education’s debt relief plan that had not already been blocked by a lower-court judge.” Good. I don’t see how the Constitution allows the President to simply declare billions of dollars of subsidies to favored classes of individuals absent congressional approval. (Hat tip: Ace of Spades HQ.)
Remember CrowdStrike, the company that helped wipe Hillary’s equipment? An update to their security product Falcon is blue-screening Windows machines across the world today. “The U.S. Emergency Alerts System said 911 lines in multiple states were down.”
Biden can’t remember the name of his own Secretary of Defense Lloyd Austin and calls him “The Black Man.” We all know this would be career-ending for a Republican, yet it’s just another expected “senior moment” for Slow Joe…
Here’s some news I missed a while back: China expelled a bunch of defense chiefs from the Communist Party in a “corruption crackdown.” “The moves against Li Shangfu and his predecessor, Wei Fenghe, follow a series of shake-ups at the top of the world’s largest military — Li was ousted from the role last year after disappearing without explanation.” Actual corruption, or simply suspicion of disloyalty to Xi?
Barry Diller has lost $9 million propping up The Daily Beast. I know a lot of political publications lose money, but I’m pretty sure you could prop up a leftist website for less than 1/10th that…
Welcome to Africa’s League of Assholes. “The military regimes of Niger, Mali and Burkina Faso marked their divorce from the rest of West Africa Saturday as they signed a treaty setting up a confederation between them….All three have expelled anti-jihadi French troops and turned instead toward what they call their ‘sincere partners’ — Russia, Turkey and Iran.” More.
“Newly selected Austin City Manager T.C. Broadnax has presented his proposed budget for Fiscal Year 2025 that totals $5.9 billion — a record for the city.” You can look at the entire 1,162 page document here. Of course there’s plenty of line items for “equity” and “homeless.” That’s where some of the graft is…
Terry and her husband Max Boot, a Washington Post national security columnist, put up their tony Upper West Side apartment as collateral for her $500,000 personal recognizance bond as a condition of her release before trial.
The six-room, $1.8 million turn-of-the-century home features lavish wood paneling, built-in bookcase, stained glass windows and airy 10-foot ceilings, according to its StreetEasy listing.
The taste for such luxury is what allegedly drove Terry — a native of Seoul who formerly worked as a CIA analyst before becoming a prominent policy expert linked to several think tanks — to disclose US secret to South Korean spies, Manhattan federal prosecutors said.
Terry traded her access to information from top US officials, including US Secretary of State Anthony Blinken, in exchange for luxury goodies such as a $3,450 Louis Vuitton handbag and a $2,845 Dolce & Gabbana coat, prosecutors said.
“Democratic Socialists Of America Withdraws Endorsement Of AOC.” Because she’s just not anti-Israel enough. Which has jack all to do with democracy or socialism. This is just another sign that victimhood identity politics has eaten the far left whole.
The US Army is seeking a wheeled, self-propelled 155mm cannon-based air defense system capable of firing cheaper hypervelocity rounds.
A cost-effective alternative to current capabilities based on surface-to-air missiles is being sought, particularly in expeditionary scenarios against the rising threat of cruise missiles.
Projectiles fired by the Multi-Domain Artillery Cannon (MDAC) will be guided by offboard sensors, eliminating the cost of onboard sensors in current rounds.
“Current air and missile defense munitions require onboard guidance and targeting components that drive high munition procurement costs,” a service request for information explains.
“In contrast, the MDAC seeks to significantly reduce munition costs and enhance expeditionary utility by developing a 155mm artillery cannon-based air defense system capable of firing Hypervelocity projectiles, integrated into a wheeled platform.”
Additionally, the system will be linked with an external Command and Control Battle Manager and the Integrated Air and Missile Defense Battle Command System.
A prototype contract award is expected in the third quarter of 2025, with deliveries by the last quarter of fiscal 2027 and demonstration in fiscal 2028.
This is another case of “everything old is new again,” as Germany’s 88mm and 128mm flak cannons were generally considered very effective anti-aircraft weapons in World War II, and I bet 155mm is more than capable of putting a hurt on drones.
Ukrainian sniper takes record for world’s longest sniper shot, using a 12.7x114mm cartridge at 4,155 yards. (Hat tip: Reader John Zoch.)
Local TexMex chain Chuy’s is being bought by Darden Restaurants for $605 million. I didn’t know they actually had more than 100 locations. The food is good, but here in Austin they’ve been in the “no one goes there anymore, they’re too crowded” category for a while. (Hat tip: Dwight.)
Generation Kill author Evan Wright RIP. That was a very solid book following a Marine recon unit into Iraq in 2003, and is well worth reading if you haven’t already.
Comedy legend Bob Newhart, RIP. I’m sure everyone and their dog will be posting the justly famous Newhart finale, but we’re going to kick it old school with a selection from his comedy albums.
Brits visit an HEB+. They’re astounded at the size and blown away by Blue Bell. They’re also amazed that a plain, fresh-baked tortilla can taste so good…
Half a year gone already. This week: The debate confirmed that pretty much everything Republican said about Biden being old and out of it was true, people can’t afford housing anymore, the Supreme Court reigns in the administrative state, a whole bunch of layoffs come down the pike, two sorta, kinda coups, fake meat doesn’t pay, and we say farewell to a Texas original. It’s the Friday LinkSwarm!
President Joe Biden looked old and disoriented during Thursday’s CNN debate with Donald Trump. He spoke in a quiet and hoarse voice, made some incoherent answers, and often stumbled over his own words.
It was a lackluster performance that played directly into Republican depictions of the 81-year-old president – the oldest president in American history — as too old and frail to serve another four years in office. Trump said as much during the debate.
“He’s not equipped to be president,” Trump said. “You know it and I know it.”
The debate was a highly personal affair between two men who made little effort during their nearly two hours on stage to contain their disdain for one another.
Biden called Donald Trump a “loser,” and a “whiner” with the “morals of an alley cat.” Trump accused Biden of turning the United States into a “third-world nation” and of being the “worst president in history by far, and everybody knows it.”
Trump turned in a spirited performance, hammering Biden on inflation and the immigration crisis under his watch. But Biden’s struggles seemed to be the major takeaway for CNN’s post-debate panel, which reported that senior Democrats are in an “aggressive panic” over their party leader’s apparent frailty.
Speaking about improvements he’s claiming at the border, Biden at one point seemed lost, saying: “I’m going to continue to move until we get the total ban on, the total initiative relative what we’re going to do with more border patrol and more asylum officers.”
“I don’t really know what he said at the end of that sentence,” Trump replied. “I don’t think he knows what he said either.”
At another point, Biden got visibly lost when talking about his plan to raise taxes on the wealthy to wipe out the debt, saying he wanted to make sure “that we’re able to make every single solitary person eligible for what I’ve been able to do with, with, with the Covid, excuse me, with dealing with everything we had to do with, look, we finally beat Medicare.”
“Well, he’s right,” Trump said, “he did beat Medicare. He beat it to death.”
He stammered. He stumbled. And, with fewer than five months to November, he played straight into Democrats’ worst fears — that he’s fumbling away this election to Donald Trump.
The alarm bells for Democrats started ringing the second Biden started speaking in a haltingly hoarse voice. Minutes into the debate, he struggled to mount an effective defense of the economy on his watch and flubbed the description of key health initiatives he’s made central to his reelection bid, saying “we finally beat Medicare” and incorrectly stating how much his administration lowered the price of insulin. He talked himself into a corner on Afghanistan, bringing up his administration’s botched withdrawal unprompted. He repeatedly mixed up “billion” and “million,” and found himself stuck for long stretches of the 90-minute debate playing defense.
And when he wasn’t speaking, he stood frozen behind his podium, mouth agape, his eyes wide and unblinking for long stretches of time.
“Biden is toast — calling it now,” said Jay Surdukowski, an attorney and Democratic activist from New Hampshire who co-chaired former Maryland Gov. Martin O’Malley’s 2016 presidential campaign in the state.
In text messages with POLITICO, Democrats expressed confusion and concern as they watched the first minutes of the event. One former Biden White House and campaign aide, granted anonymity to discuss the matter, called it “terrible,” adding that they have had to ask themselves over and over: “What did he just say? This is crazy.”
Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high.
So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National Association of Realtors, or NAR. Sales fell 2.8% from May of last year …
The median price of an existing home sold in May was $419,300, a record-high price in the Realtors’ recording and up 5.8% year over year. The gain was the strongest since October 2022. Prices gained in all regions.
The Realtors noted in a release that the mortgage payment for a typical home today is more than double what it was five years ago.
It’s almost as though the Biden Recession, constrained supply (a great deal from blue locale regulation that prevent housing from being built), and high interest rates mean that no one wants to buy or sell.
According to a new report, the average renter can’t afford a typical U.S. apartment.
According to Redfin, the typical U.S. renter household earns about $54,712 per year, which is 17.3% less than the $66,120 needed to afford the median-priced apartment at $1,653 per month. This means that 61% of renters can’t afford their housing without significant financial stress.
Snip.
Inflation, which has surged during Biden’s presidency, certainly exacerbates this issue. Rising costs for essentials like food, gas, and utilities leave renters with even less disposable income to cover their housing costs. Despite promises to address affordability and economic inequality, the Biden administration has doubled down with claims that inflation is going down and that wage growth has outpaced it — which isn’t true. Biden has made it more difficult for Americans to achieve financial stability.
Pixar (part of Disney) (175 people, 14% of the company, who must have been thrilled to get a pink slip and then see unwoke Inside Out 2 go on to be Disney’s biggest movie of the year)
The Supreme Court on Friday issued a ruling overturning the 1984 Chevron v. National Resources Defense Council case, striking down a previous decision that granted federal agencies immensely broad power to draw up regulations without congressional approval.
The Court ruled in both Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce — two nearly identical cases — that regulatory agencies will no longer be able to fill in the blanks of vague legislation in 6-2 and 6-3 decisions, respectively. Justice Ketanji Brown Jackson recused herself from the first case because she sat on the federal appeals court that had previously heard the case.
In his majority opinion, Chief Justice John Roberts wrote that it is not the place of agencies to clarify ambiguous legislation.
“Perhaps most fundamentally, Chevron’s presumption is misguided because agencies have no special competence in resolving statutory ambiguities,” he wrote. “Courts do. The Framers, as noted, anticipated that courts would often confront statutory ambiguities and expected that courts would resolve them by exercising independent legal judgment.”
Writing a concurrence, Justice Neil Gorsuch argued that the concept of Chevron deference “undermines” many of the principles on which the United States was founded.
“It precludes courts from exercising the judicial power vested in them by Article III to say what the law is,” he wrote. “It forces judges to abandon the best reading of the law in favor of views of those presently holding the reins of the Executive Branch. It requires judges to change, and change again, their interpretations of the law as and when the government demands.”
This is a huge blow to the unchecked administrative state and a key decision in helping reign in untrammeled executive regulatory power.
This looks like it will put a crimp in Biden’s amnesty plans: “SCOTUS rules 6-3 that there’s no constitutional guarantee for non-citizen spouses to be admitted to the US.”
Russia’s newest S-500 air defense system has been deployed to Crimea to defend against ATACMS strike. Result? It was destroyed by an ATACMS strike. “This is a big embarrassment for Russia, that its newest and best missile system has had its clock clean by 30-year-old missiles.”
“War crimes arrest warrants issued for top Russian officials. The International Criminal Court (ICC) has issued an arrest warrant for Russia’s former defence minister, Sergei Shoigu, and the chief of general staff, Valery Gerasimov.” It would make one hell of a Dog The Bounty Hunter episode…
Andrew Cuomo (D-isgrace) admits that the bogus Trump hush money kangaroo trial should never have been held. “If his name was not Donald Trump and if he wasn’t running for president. I’m the former AG in New York. I’m telling you, that case would have never been brought. And that’s what is offensive to people. And it should be!” Broken clock, twice a day.
Federal judges in Missouri and Kansas issued separate rulings on June 24 blocking key sections of the Biden administration’s Saving on a Valuable Education (SAVE) program, which is designed to lower student loan payments and forgive debts.
A new version of the program that would reduce payments and shorten maximum repayment periods was set to take effect in July.
U.S. District Judge Michael Crabtree for the District of Kansas ruled that the Republican states were likely to succeed in their claim that the department lacked explicit congressional authority to enact this portion of the program.
“Defendants have offered colorable, plausible interpretations of the Higher Education Act that could authorize the SAVE Plan, but those interpretations fall short of clear congressional authorization,” Judge Crabtree, who was appointed under President Barack Obama, wrote on Monday.
However, he declined to block the program entirely, expressing concerns about the practicality of reversing parts of the plan that had already been implemented. He also said that Republicans’ delay in filing their lawsuits undermined their arguments that there was an immediate need to halt the entire program.
In a separate decision on the same day, U.S. District Judge Judge John Ross for the Eastern District of Missouri, also a President Obama appointee, blocked the department from forgiving “any further loan[s]” under SAVE until he decides the full case. His order said that such actions would likely strip state loan operators of revenue.
Judge Ross also suggested that the SAVE program might have exceeded the authority of Education Secretary Miguel Cardona and that Missouri would likely be harmed by the program.
Just imagine if a Republican judge got a chance to rule on it…
“Kenya Protesters Storm Parliament, Police Fire Live Rounds, After Lawmakers Unleash Eco-Austerity.” Seems like $2.7 billion in taxes to serve nebulous “green” goals is unpopular in a country where the per capita GDP is $2,099. Thanks, IMF…
And an attempted coup in Bolivia evidently failed. President Luis Arce is a bit of a socialist scumbag, so it remains to be seen if he intends to follow in Venezuela’s footsteps to economic ruin.
Not only are the massive crowds a problem, but this year the Saudi city is under an excessive heat warning, with highs at times having reached between 110 and 115°F during the day, and 100°F even at night. This has resulted in what could be a record amount of heat injuries and deaths by the pilgrimage season’s end. On Monday the Saudi weather service recorded a temperature of 125 degrees Fahrenheit at Mecca’s Grand Mosque.
Many of the dead were “unauthorized pilgrims” who hadn’t paid their Hajj fee. “This group was more vulnerable to the heat because, without official permits, they could not access air-conditioned spaces provided by Saudi authorities for the 1.8 million authorized pilgrims to cool down after hours of walking and praying outside.”
More accused perverts in classrooms. “Former Denton ISD Coach Arrested for Online Solicitation of a Minor. A mother from another school district says she tried to warn Denton ISD of an inappropriate encounter her daughter had with district employee Justin Wallace Carter.”
“A Uvalde County grand jury has indicted former school district police Chief Pete Arredondo and another former district officer on charges of child endangerment, the first criminal charges brought against law enforcement for the botched response to the deadliest school shooting in Texas history, the San Antonio Express-News reported. Arredondo and Adrian Gonzales face felony charges of abandoning or endangering a child.” (Hat tip: Dwight.)
A fun edition of What’s My Line featuring America’s most decorated war hero.
Kinky Friedman, RIP. He was a Texas original, an entertaining musician, a successful author, and the last interesting Democrat in Texas. Dwight already posted “The Ballad of Charlie Whitman,” so I direct you over there. I have an inscribed (not to me) first of A Case of Lone Star, and I should probably read that next.
Attorney General Ken Paxton announced today the launch of a new major initiative to protect citizens’ sensitive data from unauthorized exploitation by tech companies and artificial intelligence.
The initiative was launched under the umbrella of the Attorney General Office Consumer Protection Division and established a team for “aggressive enforcement” of state privacy laws. It will also “ensure companies respect Texans’ privacy rights and safeguard their personal data.”
According to a press release from Paxton’s office, the data protection team is set to be one of the largest privacy law enforcement teams in the entire United States.
“Any entity abusing or exploiting Texans’ sensitive data will be met with the full force of the law,” said Paxton. “Companies that collect and sell data in an unauthorized manner, harm consumers financially, or use artificial intelligence irresponsibly present risks to our citizens that we take very seriously.
“As many companies seek more and more ways to exploit data they collect about consumers, I am doubling down to protect privacy rights,” he continued. “With companies able to collect, aggregate, and use sensitive data on an unprecedented scale, we are strengthening our enforcement of privacy laws to protect our citizens.”
Specifically, the new team will focus on enforcing the Data Privacy and Security Act, the Identify Theft Enforcement and Protection Act, the Data Broker Law, the Biometric Identifier Act, the Deceptive Trade Practices Act, and federal laws such as the Children’s Online Privacy Protection Act and the Health Insurance Portability and Accountability Act.
“Texas has been a national leader in advancing conservative technology policy, and this initiative is the perfect complement to legislative wins in recent sessions as it will ensure Texas has the expertise and firepower to enforce laws that protect consumers and hold Big Tech accountable,” said David Dunmoyer—the Texas Public Policy Foundation Better Tech for Tomorrow campaign director.
“Big Tech companies have gleefully flouted laws like the Children’s Online Privacy Protection Act for years, and in the absence of meaningful federal action, this initiative demonstrates Texas’ willingness to once again step into the breach and fight on behalf of Texans,” he continued. “This initiative will only further cement Texas’ national leadership in this space.”
This is the latest development in Texas’ efforts to crack down on data privacy infringement. In mid-summer of last year, Gov. Greg Abbott signed the Texas Data Privacy & Security Act into law.
The law applies to primarily businesses and entities who conduct business in the state of Texas or produce a product consumed by Texans, process or engage with the sale of personal data, and who are not considered “small businesses” unless the business has its hand in transactions of personal data.
That enforcement effort sounds both needed and deserved, but the question is how you enforce those laws when they cows have not only left the barn, but have been sucked down and sliced up into thousands of vast international data farms far beyond the regulatory reach of the state of Texas.
Big data lives and breathes on personal data that you’ve agreed to give up in variegated clauses scattered throughout the sprawling text swamps of terms and conditions for online sites you use for free.
Have a Facebook account? Congratulations! Every bit of information you’ve shared with Facebook (your friends network, your interests, the sports teams you follow, the foods you favor, etc.) is now available to every partner of Facebook. And everyone partners with Facebook. If they have your email address or your phone number, they have your data.
Ditto Google, with the additional proviso that Google has sucked up and cataloged pretty much every public database in the world, plus every single search query you’ve launched, ever, and every web page you’ve ever viewed through Chrome.
Ditto Microsoft, for LinkedIn (yes, Microsoft bought LinkedIn), Windows, Explorer, Edge, Bing, etc.
Ditto Twitter for everything you’ve ever tweeted or liked there.
Ditto Sony, whose PlayStation Network data got hacked.
Ditto Apple, though they seem to have better privacy protection provisions than most, mainly because they make their money off hardware. This doesn’t make them the good guys, just the least bad buys.
And don’t forget state, location and federal government entities, whose data security is probably several orders of magnitude worse than the tech giants.
Given that there’s so much personal data out there, so much legally acquired, how do you go about putting the genie back in the bottle? It’s a near impossible task, given that the tech giants not only hire armies of lawyers to defend themselves from lawsuits, but also lobbyists to write laws protecting them from said lawsuits.
One place to start: Joining in a lawsuit where Facebook’s parent company Meta actually used stolen data to train AI, namely using a giant database of pirated books without paying authors. Paxton’s office could join one of the lawsuits against Meta, or file a new one on behalf of Texas authors whose work was used without compensation.
Catching a tech giant with their pants down while actually breaking the law may give Paxton leverage to address other privacy concerns, and possibly the chance to do some eye-opening discovery…
A kangaroo trial reaches its kangaroo conclusion, Biden’s ludicrous Gaza pier floats away and sinks, ESG lawsuits get the green light, the Libertarians nominate a hard left social justice warrior, and the NRA picks up a Supreme Court win. It’s the Friday LinkSwarm!
The kangaroo trial where they tried Trump on supposed violation of a federal offense in a state courtroom and the judge decreed that the jury didn’t need to come to a unanimous opinion to find Trump guilty found Trump guilty. I expect this to result in expedited appeal and equally expedited overturning.
Result? “Today, the Trump campaign announced a record-shattering small-dollar fundraising haul following the sham Biden Trial verdict totaling $34.8 million – nearly double the biggest day ever recorded for the Trump campaign on the WinRed platform.” (Hat tip: Stephen Green at Instapundit.)
While the CIA is strictly prohibited from spying on or running clandestine operations against American citizens on US soil, a bombshell new “Twitter Files” report reveals that a member of the Board of Trustees of InQtel – the CIA’s mission-driving venture capital firm, along with “former” intelligence community (IC) and CIA analysts, were involved in a massive effort in 2021-2022 to take over Twitter’s content management system, as Michael Shellenberger, Matt Taibbi and Alex Gutentag report over at Shellenberger’s Public (subscribers can check out the extensive 6,800 word report here).
According to “thousands of pages of Twitter Files and documents,” these efforts were part of a broader strategy to manage how information is disseminated and consumed on social media under the guise of combating ‘misinformation’ and foreign propaganda efforts – as this complex of government-linked individuals and organizations has gone to great lengths to suggest that narrative control is a national security issue.
According to the report, the effort also involved;
a long-time IC contractor and senior Department of Defense R&D official who spent years developing technologies to detect whistleblowers (“insider threats”) like Edward Snowden and Wikileaks’ leakers;
the proposed head of the DHS’ aborted Disinformation Governance Board, Nina Jankowicz, who aided US military and NATO “hybrid war” operations in Europe;
Jim Baker, who, as FBI General Counsel, helped start the Russiagate hoax, and, as Twitter’s Deputy General Counsel, urged Twitter executives to censor The New York Post story about Hunter Biden.
Jankowicz (aka ‘Scary Poppins’), previously tipped to lead the DHS’s now-aborted Disinformation Governance Board, has been a vocal advocate for more stringent regulation of online speech to counteract ‘rampant disinformation.’ Jim Baker, in his capacity as FBI General Counsel and later as Twitter’s Deputy General Counsel, advocated for and implemented policies that would restrict certain types of speech on the platform, including decisions that affected the visibility of politically sensitive content.
Furthermore, companies like PayPal, Amazon Web Services, and GoDaddy were mentioned as part of a concerted effort to de-platform and financially de-incentivize individuals and organizations deemed threats by the IC. This approach represents a significant escalation in the use of corporate cooperation to achieve what might essentially be considered censorship under the guise of national security.
Nina Jankowicz And The Alethea Group
Remember Nina? A huge fan of Christopher Steele – architect of the infamous Clinton-funded Dossier which underpinned the Trump-Russia hoax, and who joined the chorus of disinformation agents that downplayed the Hunter Biden laptop bombshell, Jankowicz previously served as a disinformation fellow at the Wilson Center, and advised the Ukrainian Foreign Ministry as part of the Fulbright-Clinton Public Policy Fellowship. She also oversaw the Russia and Belarus programs at the National Democratic Institute.
Jankowicz compares the lack of regulation of speech on social media to the lack of government regulation of automobiles in the 1960s. She calls for a “cross-platform” and public-private approach, so whatever actions are taken are taken by Google, Facebook, and Twitter, simultaneously.
Jankowicz points to Europe as the model for regulating speech. “Germany’s NetzDG law requires social media companies and other content hosts to remove ‘obviously illegal’ speech within twenty-four hours,” she says, “or face a fine of up to $50 million.”
By contrast, in the US, she laments, “Congress has yet to pass a bill imposing even the most basic of regulations related to social media and election advertising.” -Public
In a 2020 book, How to Lose the Information War: Russia, Fake News, and the Future of Conflict, Jankowicz praises a NATO cyber security expert for having created a “Center of Excellence,” a concept promoted by Renée Diresta of the Stanford Internet Observatory, in which she made the case for the (now failed) Disinformation Governance Board that Jankowicz would briefly head up.
One year later, Jankowicz began working with ‘anti-disinformation’ consulting firm, Althea Group, staffed by “former” IC analysts.
Lots more at the link.
Remember when fast food was cheap food you bought to treat kids or didn’t feel like cooking? Now 78% of Americans surveyed think it’s a luxury good they can’t afford. Thanks, Joe Biden!
Also, one of Putin’s dachas burned down, though it’s so far from the theater of operations that it may be unrelated.
“Biden’s Gaza ‘Pier to Nowhere’ a Disaster and National Embarrassment, Breaks Apart.” Evidently the pier can only work in seas with waves smaller than three feet, and 4.5′ chop and 20 MPH gusts KO’d it. Also, no less than four U.S. vessels have run aground in the process of trying to build and move this thing. That’s some mighty fine pier-building, Lou.
The Supreme Court unanimously handed the National Rifle Association a win Thursday in the gun rights group’s effort to revive a 2018 First Amendment lawsuit accusing a New York official of causing damage to the NRA’s relationships with banks and insurers.
Justice Sonia Sotomayor wrote a unanimous opinion that found the NRA “plausibly alleged” that Maria Vullo, a former superintendent of New York‘s Department of Financial Services, illegally retaliated against the pro-Second Amendment group after the Parkland, Florida, high school mass shooting that left 17 people dead.
The question before the justices was whether Vullo used her regulatory power to force state financial institutions to cut off ties with the NRA in violation of constitutional First Amendment protections.
Vullo, who worked in former Democratic Gov. Andrew Cuomo’s administration, said her regulations targeted an insurance product that is illegal in New York, which is dubbed by critics as “murder insurance.” In essence, such insurances are third-party policies sold via the NRA that cover personal injury and criminal defense costs after the use of a firearm.
“Here, the NRA plausibly alleged that Vullo violated the First Amendment by coercing DFS-regulated entities into disassociating with the NRA in order to punish or suppress gun-promotion advocacy,” Sotomayor, an appointee of former President Barack Obama, wrote in her decision.
A mysterious shooting in North Carolina north of Fort Liberty, formerly Fort Bragg, not far from where some of America’s most elite U.S. Special Operations forces live and train is under investigation by the Army Criminal Investigation Division as well as local police. The shooting in Carthage, North Carolina occurred May 3 at 8:15 p.m. following a phone call about a suspected trespasser near a Special Forces soldier’s property.
Two Chechen men who spoke broken English were found near the soldier’s home. The family alleges the suspected intruder, 35-year-old Ramzan Daraev of Chicago was taking photos of their children. When confronted near a power line in a wooded part of the property, an altercation ensued and Daraev was shot several times at close range. A second man, Dzhankutov Adsalan, was in a vehicle some distance from the incident and was questioned by authorities and then released. The Moore County Sheriff’s office is leading the investigation.
The FBI told Fox News, “Our law enforcement partners at the Moore County Sheriff’s Office contacted the FBI after a shooting death in Carthage. A special agent met with investigators and provided a linguist to assist with a language barrier for interviews.”
A district judge has granted a pilot’s request for a class-action lawsuit against American Airlines for allegedly investing pension funds into environmental, social, and governance (ESG) funds.
The case revolves around the allegation that American Airlines—headquartered in Fort Worth, Texas—violated its fiduciary obligation to the Employee Retirement Income Security Act (ERISA) “by investing millions of dollars of American Airlines employees’ retirement savings with investment managers and investment funds that pursue political agendas” through ESG initiatives.
“By pursuing ESG goals, Defendants gave Plan assets to fund managers, such as BlackRock, who allegedly ignored financial returns as the exclusive purpose and lowered the value of Plan participants’ investments,” the order states.
In addition to being disloyal to the employees, the plaintiff, Bryan Spence, argues that American Airlines’ investments were “imprudent because it is well known that ESG funds are associated with poor performance given the detrimental effects of such activism on stock prices.”
“To remedy these alleged ERISA violations, Plaintiff filed this lawsuit individually and on behalf of a proposed class of Plan participants and beneficiaries,” the order says. “ERISA authorized participants in a qualifying plan to bring an action on behalf of other participants to enforce the statute’s fiduciary obligations and remedial provisions, as well as recover all losses to a plan caused by a breach of a fiduciary duty.”
Two weeks before Russia invaded Ukraine in February 2022, a large, mysterious new Internet hosting firm called Stark Industries Solutions materialized and quickly became the epicenter of massive distributed denial-of-service (DDoS) attacks on government and commercial targets in Ukraine and Europe. An investigation into Stark Industries reveals it is being used as a global proxy network that conceals the true source of cyberattacks and disinformation campaigns against enemies of Russia.
At least a dozen patriotic Russian hacking groups have been launching DDoS attacks since the start of the war at a variety of targets seen as opposed to Moscow. But by all accounts, few attacks from those gangs have come close to the amount of firepower wielded by a pro-Russia group calling itself “NoName057(16).”
As detailed by researchers at Radware, NoName has effectively gamified DDoS attacks, recruiting hacktivists via its Telegram channel and offering to pay people who agree to install a piece of software called DDoSia. That program allows NoName to commandeer the host computers and their Internet connections in coordinated DDoS campaigns, and DDoSia users with the most attacks can win cash prizes.
Microsoft’s announcement of the new AI-powered Windows 11 Recall feature has sparked a lot of concern, with many thinking that it has created massive privacy risks and a new attack vector that threat actors can exploit to steal data.
Revealed during a Monday AI event, the feature is designed to help “recall” information you have looked at in the past, making it easily accessible via a simple search.
While it’s currently only available on Copilot+ PCs running Snapdragon X ARM processors, Microsoft says they are working with Intel and AMD to create compatible CPUs.
Recall works by taking a screenshot of your active window every few seconds, recording everything you do in Windows for up to three months by default.
These snapshots will be analyzed by the on-device Neural Processing Unit (NPU) and an AI model to extract data from the screenshot. The data will be saved in a semantic index, allowing Windows users to browse through the snapshot history or search using human language queries.
Who wouldn’t want AI recording and monitoring their every move? Yet another reason never to turn on Windows Copilot+…or use a Windows machine at all.
Time for an update to this old classic
Though Texas House Speaker Dade Phelan survived by the skin of his teeth, a majority of Republican Texas House members say they won’t vote for him for speaker.
A majority of the 2025 Republican House caucus opposes Democratic committee chairs, and effectively will not support another term for Speaker Dade Phelan (R-Beaumont), the group said in a letter released on Friday.
“In a collective effort to respond to Republican voters and reform the Texas House, we will only vote for a candidate for speaker pursuant to the Platform and the Caucus By-Laws who will only appoint Republicans as committee chairs,” the brief letter and joint statement reads.
It adds, “The absence of a member’s or nominee’s name from this statement does not necessarily mean the individual is opposed to this statement. All members and nominees are invited to sign on to this statement.”
Forty six current or presumptive members signed the letter, including 23 members who voted for Phelan’s speakership last year.
One of those signatories, GOP nominee in House District 70 Steve Kinard, has a difficult general election fight against state Rep. Mihaela Plesa (D-Dallas) in a D-52% district.
The letter includes signatures from each of the 21 “Contract with Texas” signatories, most of whom campaigned specifically against Phelan’s speakership. That contract also includes a ban on Democratic committee chairs, though has 11 other planks to its demands as well.
Last session, a parliamentary maneuver precluded a vote on the question of banning Democratic chair appointments, though the idea had gained steam among GOP House members and was included in the party’s list of legislative priorities. It is likely to be featured again.
In a March interview after being pushed to a runoff and state Rep. Tom Oliverson (R-Cypress) announcing his challenge for the gavel, Phelan said he would not back down on the appointment of Democrats as committee chairs.
Snip.
This release makes Phelan’s path toward a third term as speaker much more difficult. Should this group hold, ostensibly opposed to Phelan, it will be impossible for him to win the Texas House Republican Caucus endorsement. However, the speaker could give in on some concessions, such as Democratic chair appointments, and win back this group’s support.
GOP caucus rules require members to vote for the body’s nominee, presumably enforced by the bylaws, though no section exists in that portion of the document laying out penalties for voting differently than the caucus has chosen. It’s happened before, for example last year when three members — state Reps. Tony Tinderholt (R-Arlington) and Nate Schatzline (R-Fort Worth), and now-former member Bryan Slaton (R-Royse City) — voted against the caucus nominee, Phelan, and for Tinderholt.
Article IX of the Texas Republican House Caucus bylaws lays out the procedure for selecting a speaker candidate. It requires the selection process to be conducted by secret ballot until a member receives two-thirds support from the body, currently 58 votes; if no candidate reaches that line, the last-placed candidate will be eliminated from the contest and that will be repeated until one candidate reaches 58.
Should the vote reach a third round, the threshold needed will drop to three-fifths support — currently at 52 votes. Should nobody reach that line, after a fourth round of voting, all nominations will be withdrawn and the floor reopened.
Depending on what happens in November with potential flips, those 58- and 52-lines may shift.
This intra-caucus vote will occur in early December, per the rules.
Libertarians nominate a social justice warrior Chase Oliver for their Presidential candidate. A fair number of Libertarians are saying they’ll vote for Trump now…
“I believe this is one of the most important elections of my lifetime, and I’m supporting Trump. I know that I’ll lose friends for this. Some will refuse to do business with me. The media will probably demonize me, as they have so many others before me. But despite this, I still believe it’s the right thing to do.”
The physics PhD said that he refuses to live in a society where people are afraid to speak their minds.
Red Lobster followup: Turns out Red Lobster is privately owned by seafood supplier Thai Union. And just who did Red Lobster buy all that “endless shrimp” from? No prizes for guessing…
“George Miller’s Furiosa is projected to take in only $31 million at the box office. When adjusted for inflation, that’s the worst Memorial Day box-office haul in 43 years.”
Will wokeness and the Biden recession kill off comic shops? Also, is Disney looking to outsource comics from Marvel?
World’s largest Buc-ee’s to open. “The new center is located in Luling, Texas, and will open its doors to the public the morning of June 10, according to a news release from the company. The new 75,000-square-foot center is symbolic for the Luling community, as it will replace the city’s current Buc-ee’s store, which was the first Buc-ee’s travel center built in 2003.” (Hat tip: Dave.)
“Donald Trump Found Guilty Of Being Donald Trump.” “‘It was an open and shut case,’ said prosecutor Joshua Steinglass. ‘There wasn’t any way he could sit there being Donald Trump and just get away with it. We were given strict orders to hold him accountable for being Donald Trump, and that’s what we’ve done.'”
A newly discovered backdoor found in the xz liblzma library of XZ Utils, the XZ format compression utilities included in most Linux distributions, targets the RSA implementation of OpenSSH.
For those outside of tech, that sentence was an unreadable jumble of acronyms. For those inside tech, a chill probably ran down their spine, as those technologies are everywhere. Anytime anyone buys something online, they’re going to be using SSH to create a secure channel to pass transaction information. [As a commenter noted, SSH is a command tool rather than Secure Socket Layer (SSL), which is used for encrypted transactions. Mental typo. My bad. – LP.] Depending on how many distros are using that library, the consequence range from “bad” to “really, really bad.”
A vulnerability (CVE-2024-3094) in XZ Utils, the XZ format compression utilities included in most Linux distributions, may “enable a malicious actor to break sshd authentication and gain unauthorized access to the entire system remotely,” Red Hat warns.
The cause of the vulnerability is actually malicious code present in versions 5.6.0 (released in late February) and 5.6.1 (released on March 9) of the xz libraries, which was accidentally found by Andres Freund, a PostgreSQL developer and software engineer at Microsoft.
“After observing a few odd symptoms around liblzma (part of the xz package) on Debian sid installations over the last weeks (logins with ssh taking a lot of CPU, valgrind errors) I figured out the answer: The upstream xz repository and the xz tarballs have been backdoored,” he shared via the oss-security mailing list.
According to Red Hat, the malicious injection in the vulnerable versions of the libraries is obfuscated and only included in full in the download package.
“The Git distribution lacks the M4 macro that triggers the build of the malicious code. The second-stage artifacts are present in the Git repository for the injection during the build time, in case the malicious M4 macro is present,” they added.
“The resulting malicious build interferes with authentication in sshd via systemd.”
I’m just going to note for the record that a whole lot of longtime Linux programmers absolutely hated the introduction of systemd. I don’t have deep enough Linux chops to take a side in this controversy, or know whether systemd was a significant factor in allowing the exploit to work.
Moving on:
The malicious script in the tarballs is obfuscated, as are the files containing the bulk of the exploit, so this is likely no accident.
“Given the activity over several weeks, the committer is either directly involved or there was some quite severe compromise of their system. Unfortunately the latter looks like the less likely explanation, given they communicated on various lists about the “fixes” [for errors caused by the injected code in v5.6.0],” Freund commented.
One silver lining is that the problem doesn’t look to be as widespread as it could be.
“Luckily xz 5.6.0 and 5.6.1 have not yet widely been integrated by Linux distributions, and where they have, mostly in pre-release versions.”
Red Hat says that the vulnerable packages are present in Fedora 41 and Fedora Rawhide, and have urged users of those distros to immediately stop using them.
“If you are using an affected distribution in a business setting, we encourage you to contact your information security team for next steps,” they said, and added that no versions of Red Hat Enterprise Linux (RHEL) are affected.
Since Red Hat is usually the default for big E-commerce platforms, it looks like this exploit is merely “bad” rather than “really, really bad,” which means its not nearly as bad as, say, Log4J was. Your Amazons and eBays are probably safe from the exploit.
The people who are likely going to be hurt by this exploit are mom and pop E-commerce sites using their webhost’s “build an E-commerce site using these easy tools” feature. The smaller the site, the more likely they’re using a free distro, some of which may have this vulnerability.
Whatever the site, they should run an updated software composition analysis tool on stacks and build-chains to see if they’re vulnerable.
The Senate’s bad border deal goes down badly, Big Brother is (still) watching you, Netanyahu tells everyone calling for a Gaza ceasefire to stick it in their murder tunnels, more Democrats arrested for (or convicted of) fraud, and a tiny bit of Disney news. It’s the Friday LinkSwarm!
Republicans took one look at the abomination of a “bipartisan” border deal and declared it dead on arrival.
In a key vote on Wednesday, Senate Republicans moved to block the long-anticipated bipartisan border deal, which ties border-security provisions to aid for both Israel and Ukraine.
The bill was blocked in a 49 to 50 procedural vote, with only four Republicans joining Democrats in backing the legislation. The bill needed 60 votes to advance.
This setback comes after months of negotiations between Senate Republicans and Democrats on a measure President Joe Biden strongly requested. While the GOP wants more resources allocated toward the southern border, House Republicans and former president Donald Trump have made it clear they don’t want the legislation tied to foreign aid.
Hours after the bill’s details were revealed Sunday night, House GOP leaders rejected the package and declared it “DEAD on arrival in the House.”
Trump, who has made the border crisis a central issue of his 2024 presidential campaign, also weighed in on the border deal earlier this week. “Don’t be STUPID!!! We need a separate Border and Immigration Bill. It should not be tied to foreign aid in any way, shape, or form!” Trump posted on Truth Social.
Before the Senate voted on the matter, Biden blamed Trump for Republicans’ fierce opposition to the bill.
“Now, all indications are this bill won’t even move forward to the Senate floor,” Biden said Tuesday. “Why? A simple reason: Donald Trump.”
Hey Biden, I’m already going to vote for Trump. You don’t need to keep giving me new reasons.
The $118 billion Senate proposal includes about $60 billion in Ukraine funding, $14 billion in Israel aid, and $20 billion in border-security improvements, among various other items listed in the legislative package.
Senators James Lankford of Oklahoma, Lisa Murkowski of Alaska, Susan Collins of Maine, and Mitt Romney of Utah were the only Republicans to vote in favor of the bill on Wednesday.
Lankford should be ashamed to be in such company.
Texas isn’t taking the Biden Administrations abrogation of the rule of law lying down. “Texas Attorney General’s Legal Challenge to Biden Administration’s ‘Asylum Rule’ Will Proceed. A federal judge ruled Texas raised a plausible claim that the federal government is violating the Appointments Clause of the U.S. Constitution.”
The Texas Office of the Attorney General (OAG) announced a procedural victory in one of its many ongoing lawsuits against the federal government this week, after a federal district judge ruled against a motion by the Department of Homeland Security (DHS) to dismiss a legal challenge to its “asylum rule,” saying Texas had a plausible constitutional challenge.
According to the OAG, the federal government violated the Appointments Clause in the U.S. Constitution when the DHS granted power to review asylum cases to immigration officers — a power uniquely held under federal statute by immigration judges.
“This case offers a rare opportunity to litigate the application of the Appointments Clause of the Constitution, which states that Congress may only vest the power to appoint “inferior Officers… in the President alone, the Courts of Law, or the Heads of Departments,” the OAG wrote in a press statement regarding the case.
The office explained that by using asylum officers to perform jobs Congress assigned to judges when said officers were not appointed in the same manner, DHS violated the Constitution.
The OAG also argues that asylum officers are granting more noncitizens asylum than otherwise would be entitled to it. This is causing surges at the border and population increases that are in turn increasing the state’s costs relating to the increases, the state says.
“It is tremendously important for Texas and for our Constitutional order that this case is allowed to move forward,” Attorney General Ken Paxton said regarding the case. “The Biden Administration must not be permitted to ignore Congress and violate the Constitution. We take every opportunity to hold Biden accountable for his unlawful overreach.”
Rank-and-file Border Patrol agents have slammed the Senate’s $118B Senate funding bill that would guarantee 1.5 million illegal migrants entry to the United States, while sending the majority of funds to Ukraine ($60B+) and Israel ($14.1B).
Snip.
“Now that I’ve seen more of it, they can respectfully go fuck themselves. The more I’m seeing the more it just puts what they’ve been doing in writing. You want to shut this down, it’s real easy. Team up [the Department of Defense] with DHS and let us enforce like we were supposed to,” one agent told the Caller, adding “I feel like we are the only nation in the world that is this dumb about the border. Maybe it’s because we haven’t.”
Oh, and “Aliens from noncontiguous countries shall not be included in the sum of aliens encountered.” Did America’s enemies write this thing?
Cruz went on to say he knew [the Biden border bill] “had zero chance of passage” and that the entire purpose of the bill was to give “political camouflage to Democrats running in November.”
“Joe Biden can secure the border any day he wants,” Cruz said. “He doesn’t want to.”
The Secure the Border Act, which passed in the lower chamber as as House Resolution (H.R.) 2, was introduced to the Senate by Cruz in September of 2023, a fact he highlighted Wednesday, saying to “give me Ukraine aid and H.R. 2 and I’ll vote for that.”
H.R. 2 would have continued construction of the border wall, reinstated the “remain in Mexico” policy, and added border patrol agents and technology for both the southern and northern borders.
“Democrats do not want to secure the border; they want this invasion,” Cruz continued. “The Americans who are dying as a result, they’re [Democrats] willing to look the other way.”
A few weeks ago, Ohio congressman and Judiciary Committee chairman Jim Jordan’s office released a letter to Noah Bishoff, the former director of the Financial Crimes Enforcement Network, or FinCEN, an arm of the Treasury Department. Jordan’s team was asking Bishoff for answers about why FinCEN had “distributed slides, prepared by a financial institution,” detailing how other private companies might use MCC transaction codes to “detect customers whose transactions may reflect ‘potential active shooters.’”
The slide suggested the “financial company” was sorting for terms like “Trump” and “MAGA,” and watching for purchases of small arms and sporting goods, or purchases in places like pawn shops or Cabela’s, to identify financial threats.
Jordan’s letter to Bishoff went on:
According to this analysis, FinCEN warned financial institutions of “extremism” indicators that include “transportation charges, such as bus tickets, rental cars, or plane tickets, for travel to areas with no apparent purpose,” or “the purchase of books (including religious texts) and subscriptions to other media containing extremist views.”
During the Twitter Files, we searched for snapshots of the company’s denylist algorithms, i.e. whatever rules the platform was using to deamplify or remove users. We knew they had them, because they were alluded to often in documents (a report on the denylist is_Russian, which included Jill Stein and Julian Assange, was one example).
However, we never found anything like the snapshot Jordan’s team just published:
The highlighted portion shows how algorithmic analysis works in financial surveillance.
First compile a list of naughty behaviors, in the form of MCC codes for guns, sporting goods, and pawn shops.
Then, create rules: $2,500 worth of transactions in the forbidden codes, or a number showing that more than 50% of the customer’s transactions are the wrong kind, might trigger a response.
The Committee wasn’t able to specify what the responses were in this instance, but from previous experience covering anti-money-laundering (AML) techniques at banks like HSBC, a good guess would be generation of something like Suspcious Activity Reports, which can lead to a customer being debanked.
If Facebook, Twitter, and Google have already shown a tendency toward wide-scale monitoring of speech and the use of subtle levers to apply pressure on attitudes, financial companies can use records of transactions to penetrate individual behaviors far more deeply. Especially if enhanced by AI, a financial history can give almost any institution an immediate, unpleasantly accurate outline of anyone’s life, habits, and secrets. Worse, they can couple that picture with a powerful disciplinary lever, in the form of the threat of closed accounts or reduced access to payment services or credit. Jordan’s slide is a picture of the birth of the political credit score.
Tiabbi says worse revelations are to come…
“Netanyahu Rejects Hamas Cease-Fire Demands, Vows to Fight until ‘Absolute Victory.'”
Israeli prime minister Benjamin Netanyahu rejected Hamas cease-fire demands on Wednesday, vowing to fight on until “absolute victory.”
Netanyahu made the comments shortly after meeting with Secretary of State Antony Blinken, who arrived in the region Tuesday night after meeting with leaders of Qatar and Egypt in the most serious diplomatic push of the war to secure a cease-fire agreement. Through these diplomatic channels, Hamas presented Israel with a proposal for a three-stage cease-fire that would last for 135 days and culminate in the end of the war.
“Surrendering to Hamas’s delusional demands that we heard now not only won’t lead to freeing the captives, it will just invite another massacre.”
Indeed.
The Special Counsel’s report on Biden’s mishandling paints a picture of Biden’s mental decline we all know is true but which the media refuses to report.
President Biden couldn’t even remember when he was vice president or when his son Beau had died, leading special counsel Robert Hur to conclude that he could not bring charges for mishandling of classified documents, because a jury would see the president “as a sympathetic, well-meaning, elderly man with a poor memory.”
In a report, Robert Hur concluded that Biden “willfully retained and disclosed classified materials after his vice presidency when he was a private citizen.” But he declined to issue any charges, in part because Biden’s poor recollection would make him hard to convict.
If you want to see Fani Willis taken down only the way Ace of Spades can, then I direct your attention to “CashApp Cougar Fani Willis: Okay, Fine, So I Used Taxpayer Money to Hire a Human Meat-Mallet to Pound My Snizz Into Thin Tender Strips Like Veal Scallopini.” (Hat tip: Reader Tig if Brue.)
Members of the Austin American-Statesman took one look at the vast wave of layoffs hitting newsrooms across the country and decided “Now is the perfect time to go on strike!” (Note: Elon Musk should buy the name, fire everyone, and build a national quality newspaper from scratch.)
Dell demands all workers (no matter how far away) return to the office. Those who don’t will be “placed on a ‘career limiting’ fully remote contract. In my experience, working for Dell is itself career limiting…
Budget drag race community comes together to help fan with terminal brain tumor who’s also the happiest guy they know. “Don’t feel bad for me. Everyone’s terminal.”
The Biden recession and other trends made 2023 a horrible year for startups.
“Big startups are shutting down. According to PitchBook, more than 3,000 private venture backed startups failed in the last year.”
“Of the startups raising money, 19% were funded at a lower valuation than in prior funding rounds.”
“38% of VCs disappeared from dealmaking last year and more than a quarter of a million workers at tech companies were laid off over the same period.”
“US corporate bankruptcy filings closed out 2023 with the most filings since 2010. The year has been described as a mass extinction event for startups in the press.”
Some of the startup failures Boyle namechecks (Hyperloop, Bird) seemed like stupid ideas from the git-go. “Bird the electric scooter rental company—which was also supposed to reinvent public transportation—filed for chapter 11 bankruptcy protection. It was the fastest startup to ever land a billion-dollar valuation, and at its peak was worth two and a half billion dollars. It was delisted from the New York Stock Exchange in September after failing to maintain a market cap of above $15 million dollars for 30 consecutive days.”
“Who would have thought that renting scooters to drunk people for a dollar (who would then throw them in a canal on their way home) would be a money losing business? Bird ran up more than $1.6bn in net losses since 2018 before finally running out of money.”
Smile Direct Club: $8.9 billion valuation at 2019 IPO. “The stock fell in value over time as the company proved to be unprofitable year after year. The company shut down last month $900 million dollars in debt.”
One I never heard of: “The health tech startup Olive AI which reached a peak valuation of $4 billion dollars in 2020 driven by the need for automation in healthcare during the pandemic. The company raised over 900 million dollars from investors. In 2022 the company began laying off staff citing ‘tough economic conditions.’ The company was allegedly trying to raise money when it abruptly shut down in November. Going out of business in 2023 was particularly surprising for a company with AI in its name.” Indeed, AI seems to be the current space where stupid money goes to die.
Another one I never heard of: Zume.
No.
“Zume – the robot pizza delivery company which had raised $445 million dollars in VC funding, the majority of which came from SoftBank in 2018 at a two and a quarter billion-dollar valuation, shut down this summer.” Stupid, but at least I can see why California companies would invest heavily in food automation with that $16 (and rising) minimum wage.
WeWork “set out to revolutionize office real estate – by having an app – which I’m told didn’t work very well, and free beer on tap filed for bankruptcy in November.” I’ve covered WeWork previously.
“WeWork and its founder Adam Neumann were the poster boys of how a blitzscaled business model led by a charismatic founder could apply a veneer of technology to an old business idea and attract venture capital funding to achieve a multibillion dollar valuation.”
“At its peak, WeWork was valued in private markets at $47 billion dollars. Softbank alone invested 16 billion dollars into the company. Masayoshi Son, SoftBank’s founder, allegedly invested his first $4.4 billion dollars in the shared office space company after Neumann gave him a 12-minute tour of a WeWork in 2016. With such a short tour, it’s unlikely that the free beer even had an impact.”
“Softbank – run by Masayoshi Son (Japan’s Cathie Wood) was one of the biggest startup investors in the last decade. They invested in all sorts of non tech companies that were made to look like tech in order to attain a sky-high valuation. According to Bloomberg, the SoftBank Vision Fund alone lost $53 billion dollars over the last two years on startup investments.”
“We have seen a very difficult period for startups over the last year or two, but it comes in the wake of probably the best period for VC backed startups in decades. During the decade from 2011 to 2021 VC investment in private start-ups grew more than sevenfold, from 46 billion dollars in 2011 to $345 billion dollars in 2021.”
“In 2022 when the federal reserve began hiking interest rates, this money began drying up as investors lost their taste for unprofitable, but high growth, investments.”
That investment boom was driven by two things: Low interest rates and “a recent history of profitable exits from VC funded startups like Facebook, Google, Whatsapp and Snap meant that investors were suddenly paying a lot of attention to tech startups – hoping to repeat those successes.”
“Venture capital went from being a small asset class run out of offices on Sand Hill Road that had burned investors in the dot com bubble to a massive global asset class like hedge funds or private equity.”
The Flu Manchu lockdowns brought investment from “‘working from home’ companies like Zoom and Peloton.” I always thought of Peloton as a lifestyle luxury brand.
“People were using apps like Uber and DoorDash for food delivery, and booking rentals on Airbnb to get out of big cities now that they no longer had to turn up in the office.”
“While the prior wave of profitable high growth tech stocks had been (one way or another) in the advertising space, or in businesses like cloud computing, the new wave of startups had untested business models—gig economy businesses which attracted a lot of competition and might never flip to profitability—or robot-made pizza which would be cooked on route to a customer’s home.”
“A lot of the VC’s possibly believed in many of the questionable investments that have since gone bust, but a venture capital fund isn’t really there to hold on to these investments until the underlying business flips to profitability. They invest at the idea stage with the goal of selling these businesses on to the public when the hype is at its peak.”
“They did manage to unload a number of the biggest flops like WeWork – but not at the valuations they were hoping for, and have found themselves holding the bag on a lot of investments that they bought into at peak valuation.”
“The huge valuations many of these companies were attaining in the private market may have been more of a function of how much money had flowed into the private tech startup market since 2011 rather than necessarily reflecting the quality of these companies and their business models.”
“According to Erin Griffith at The New York Times, $27.2 billion dollars in VC funding had gone into the 3,200 venture-backed companies that went out of business in the first 11 months of 2023.” And that’s just the firms trackable on PitchBook. The true total is almost certainly higher.
“That 27.2 billion dollar number excluded many of the largest startup failures that went public, like WeWork, or that found buyers at much lower prices than VC investors had invested at.”
“The hype around AI that we have seen in the last year has masked a lot of the losses in the tech space.”
“Meta was up 178 percent last year due to a combination of AI hype and cost cutting within their core business. This covers up the 46.5 billion dollars lost on the Metaverse – which no one will venture into, for fear that they run into Mark Zuckerberg.” I strongly suspect that a lot of those VR losses are actually money siphoned off for something else.
Despite this, stocks like Meta, Microsoft and Nvidia have hit all-time highs.
“One of the negative economic effects of startup shutdowns is that in such an environment it becomes harder for founders with good business ideas to get funding.”
“According to PitchBook, the number of active investors in US Venture Capital, which was defined as firms that made two or more deals in the last year, plummeted by 38% in the first three quarters of 2023 compared to the same period the prior year.”
Many of the startup failures were zombie companies, those that should have failed earlier but were kept alive by VC money and low interest rates.
“No one wants to see firms going out of business, especially startups which are often the most exciting and innovative firms, but if a business model makes no sense, or only works in a zero-interest rate environment, then its disappearance means that capital can again flow in the direction of the best businesses.”
The startup bust has direct negative effects on me personally, as I’m still between technical writing positions, and a lot of the jobs I’ve gotten over the past two decades have been with startups.
