Because I had to get out my book catalog last week, I’ve been as busy as Kathleen Kennedy on Ruin Star Wars Day, so this is another two-weeks crammed into one LinkSwarm. It’s just been a packed two weeks, with so many major stories breaking up not going to tease them up here, so let’s jump right in.
A new report has revealed that 21 George Soros-linked district attorneys across the United States have been replaced by “tough-on-crime” prosecutors. The report also noted that four have left office, either through recall efforts or other means.
Among those listed by the Law Enforcement Legal Defense Fund were former Portland District Attorney Mike Schmidt, who lost a May election to Democrat challenger Nathan Vasquez, Western Judicial Circuit District Attorney Deborah Gonzalez, who lost her reelection bid to Kalki Yalamanchili, and Kim Foxx, the former Cook County State’s Attorney who in 2023 announced that she would not seek reelection.
For those who were removed from office, there is Hinds County District Attorney Jody Owens, who in November was indicted on federal bribery charges, and Alameda County District Attorney Pamela Price, who was recalled last month after serving just 18 months in office, per The National News Desk.
Replacements also noted by the report were Los Angeles County District Attorney George Gascon, who lost to challenger Nathan Hochman in last month’s election, and former Baltimore City State’s Attorney Marilyn Mosby, who lost the 2022 Democratic primary election to Ivan Bates. Since her election loss, Mosby has been found guilty of one count of mortgage fraud.
All of them need to go.
Speaking of Soros tools: Subway Samaritan Daniel penny found not guilty on all charges. Just like Kyle Rittenhouse, he never should have been charged in the first place. Soros tool Alvin Bragg needs to be impeached and removed from office.
Christopher Wray steps down as FBI head. This shouldn’t keep the Trump Administration from prosecuting for his manifest interference in the political process.
More Democratic Party fundraising fraud. “ActBlue, the massive online fund-raising platform for liberal causes, has informed Congress it did not automatically block donations made with foreign-bought gift cards until recently.” Almost like the entire party is a giant money laundering scam…
Busted. “Georgia Court Removes Fani Willis from Trump Case over Relationship with Special Prosecutor.”
An appellate court removed Fulton County district attorney Fani Willis (D) from the racketeering case against President-elect Donald Trump over her romantic relationship with special prosecutor Nathan Wade.
Georgia’s court of appeals ruled Thursday that Willis will be removed from the case because of the appearance of misconduct surrounding her relationship with Wade, but did not throw out the case all together.
“While we recognize that an appearance of impropriety is generally not enough to support disqualification, this is the rare case in which disqualification is mandated and no other remedy will suffice to restore public confidence in the integrity of these proceedings,” the three judge panel ruled.
Left unstated is that her lawfare attack on Trump was both illegal and unconstitutional.
He also handed Iran access to $10 billion, because promoting terrorism, plotting to destroy Israel, and trying to build nuclear weapons are activities that Democrats seem eager to reward.
Winning. “ABC News and anchor George Stephanopoulos have reached a settlement in a defamation suit brought by President-elect Donald Trump, which requires the network to apologize, contribute $15 million to a ‘Presidential foundation and museum to be established by or for Plaintiff,’ and pay Trump’s legal team $1 million.”
The battle lines are now drawn between West Coast liberals, Bernie Sanders-socialists and moderate technocrats in the Midwest, who insist the party has completely lost touch with the average American voter.
But first, there is one thing that all sides seemingly agree on: The current political establishment must be chased out of national politics for good. A reckoning is coming.
‘The people that are responsible for this s**tshow are the Obama people. They’re just grifters,’ a well-connected Democratic donor exclusively told Daily Mail. He singled out Jen O’Malley Dillon, who went from Biden 2024 campaign chair to serve in the same role for Harris’s camp, and David Plouffe, an ex-Obama 2008 campaign manager turned top Kamala adviser.
“Trump sues Des Moines Register, pollster for ‘brazen election interference’ over faulty polling in presidential race.” I think it’s very unlikely that Trump will win this lawsuit, thanks to First Amendment protections and the “absence of malice standard.” Plus pollster Ann Selzer can always just claim “I just sucked at my job.” She retired after the election.
Israel pounded Syrian army bases on Tuesday in strikes it says aim to keep weapons from falling into hostile hands, but denied its forces had advanced into Syria, toward Damascus, beyond a buffer zone at the border.
Regional security sources and officers within the now-fallen Syrian army who spoke to Reuters described Tuesday morning’s airstrikes as the heaviest yet, hitting military installations and airbases across Syria, destroying dozens of helicopters and jets, as well as Republican Guard assets in and around Damascus.
The rough tally of 200 raids overnight had left nothing of the Syrian army’s assets, said the sources.
The Israeli Air Force has carried out over 300 airstrikes in Syria since the collapse of the regime, destroying advanced weapons and other capabilities.
Strikes reportedly carried out by Israel in Damascus’s Barzeh area completely destroyed a defense ministry research center, AFP correspondents reported on Tuesday. Western countries including the United States struck the facility in 2018, saying it was related to Syria’s “chemical weapons infrastructure.”
Plus they sunk the entire Syrian navy.
Speaking of pounding the snot out of things:
According to a US official, the US used B-52 bombers, F-15 fighter jets and A-10 aircraft to strike ISIS leaders, operatives and camps in central Syria. pic.twitter.com/QreZe4ATau
“Palantir CEO Alex Karp Eviscerates Democrats: Voters ‘Do Not Want To Hear Your Woke Pagan Ideology.'”
Alex Karp, the co-founder and CEO of Palantir, said late last week that Democrats lost the 2024 election because they did not understand the fundamental human desire to feel safe.
Karp made the remarks during a panel discussion at the Reagan National Defense Forum while talking about what Americans expect out of the U.S. government.
“Americans are the most loving, God-fearing, fair, least discriminatory people on the planet,” he said. “They want to know that if you’re waking up and thinking about harming American citizens, or if American citizens are taken hostage and kept in dungeons, or if you’re a foreign power sending fentanyl to poison our people, something really bad is going to happen to you and your friends and your cousins, and your bank account and your mistress, and whoever was involved.”
He continued, “When Americans are spending a trillion dollars on ‘defense,’ what I want and what I think my peers want is: why are these people keeping our citizens as hostages, torturing our people, attacking our allies, maligning us in what was once called the United Nations — basically a discriminatory institution against anything good? We need to stand up and those people need to be scared.”
He said that it was critical for the U.S. to dominate because “we have the best products in the world, and we can not have parity.”
“Our adversaries do not have our moral compunction,” he said. “If it is even, they will take advantage of our niceness, our kindness, our desire to be at home in Nebraska and New Hampshire or wherever we live, in our peaceful environments.”
“They need to wake up scared, and go to bed scared, and if you give that to the American people, the American people will go back and say — and honestly, I probably shouldn’t say this, this is why I thought the Democrats were going to lose the election, and why they did, because people want to live in peace,” he continued. “They want to go home. They do not want to hear your woke pagan ideology. They want to know they’re safe. And safe means the other person is scared. That’s how you make someone safe.”
Democrats are now, finally, pissed at Obama. “There are people there are people who are now multi-millionaires as a result of the Harris campaign, and we know exactly who they are. And I just want to say that half a billion dollars in advertising went to just four well-heeled Democratic firms. This whole thing is deeply incestuous.”
“Ozy Media Founder Carlos Watson Sentenced To Hefty Prison Term For Defrauding Investors. [He] was sentenced to 116 months, or nearly ten years, in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft in an unusual case that briefly captivated the media world.”
More of that voting fraud Democrats swear doesn’t exist. “2020 Carrollton Mayoral Candidate Admits to Mail Ballot Fraud. Zul Mohamed pleaded guilty Monday to 109 voter fraud felonies.”
“After Donald Trump flipped his county for the first time in a century, longtime Democratic Webb County Judge Tano Tijerina has announced he is switching parties to the Republicans saying that “the [Democratic] party left me, and the people of South Texas behind.”
Three U.S. Army soldiers have been arrested in Texas on criminal charges relating to smuggling illegal aliens.
The three soldiers were based at Fort Cavazos, which is near Killeen in Central Texas.
Fort Cavazos is The Fort Formerly Known As Fort Hood. I might have been a little more worked up over the name change if Hood hadn’t been such a shitty general.
U.S. Border Patrol agents made an initial traffic stop of a suspicious vehicle in the city of Presidio, located in West Texas on the Rio Grande. As an agent approached the vehicle’s passenger side, the driver sped away—hitting a second Border Patrol vehicle and injuring the agent inside.
The vehicle was eventually stopped by local law enforcement officers who detained four individuals in the car. Three were illegal aliens, and one was identified as U.S. Army soldier Emilio Mendoza Lopez.
The driver of the vehicle was reported as being another soldier named Angel Palma, who fled on foot from the vehicle but was located in Odessa a day later.
Presidio is nearly 500 miles away from where the soldiers were stationed.
“Mendoza Lopez and Palma allegedly traveled from Fort Cavazos to Presidio for the purpose of picking up and transporting undocumented noncitizens,” announced the U.S. Attorney’s Office for the Western District of Texas. “A third individual, Enrique Jauregui, is alleged to be the recruiter and facilitator of the human smuggling conspiracy.”
Three Texas teachers made news last week over charges of child pornography—also known as child sexual abuse material, as the images and videos depict sex crimes being committed against minors.
The educators worked in Dallas, Leander, and Wall Independent School Districts. Two of the three taught band.
On December 13, Dallas Police arrested Sean Turner, 34, and charged him with possession of pornography featuring a child younger than 10 years old—a first-degree felony.
Snip.
Retired principal Curtis John Locklear was arrested December 12 and charged with felony possession of child porn.
Locklear was arrested by the Montgomery County Precinct 3 Constable’s Office working with the Houston-area Internet Crimes Against Children (ICAC) task force.
Snip.
Also on December 12, a federal judge sentenced Joshua Carroll to 30 years in prison for possessing and producing child porn.
Carroll was an assistant band director in Wall ISD from January 2022 until his crimes were discovered earlier this year.
Texas Republican Congressman Dan Crenshaw got dinged by the Internet for insider trading. So then Crenshaw attacked the Internet. It didn’t go well for him.
Google on Monday introduced a new chip called Willow, which solved in five minutes a computing problem that would take a classical computer more time than the history of the universe.
Tech companies are chasing quantum computing in hopes of developing systems that perform at speeds far faster than traditional silicon-based computers.
The building blocks of quantum computers, called “qubits”, while being fast, are error-prone, making it hard to ensure quantum computers are reliable and commercially viable.
The more qubits used in quantum computing, the more errors typically occur. But Google said on Monday it found a way to string together qubits in the Willow chip so that error rates decline as the number of qubits rise, adding that it can also correct errors in real time.
My understanding of how quantum computers work is limited to popular explanations, but D-Wave is evidently still in business, so maybe they work?
The trailer for James Gunn’s Superman dropped. I’ve never seen a Superman film in theaters, and this will not be getting me in. But you’ve got to give Gunn credit for thinking way outside the box and including Krypto the Superdog and Hawkman, two characters that absolutely no one in the greater viewing public was clamoring for.
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.
Arm’s specialty is licensing it chip design IP to other manufacturers to incorporate into their own designs. Arm has a well-earned reputation for producing designs that squeezes the most performance per watt out of a given die sized. Think of it as an all-purpose CPU mix-and-match design kit, allowing companies to quickly design custom chips incorporating their own special sauce without reinventing the wheel for every JTAG port and ring oscillator. Arm-derived designs have come to completely dominate mobile devices, and Apple, who had previously used custom cores incorporating Arm IP into their iPhone and iPad lines, just this year announced that they’re moving from Intel to an Arm-based custom chip for their Macintosh PC line.
The great thing about Arm is that all they make is money. They license their IP at (for most customers) relatively modest per-chip cost, and most (possibly all) the major chip foundries have licensed their IP for one thing or another. So have most Integrated Device Manufacturers (i.e., chip companies that still run their own wafer fabs, an increasingly pricey proposition), including rival Intel, which has dominated PC CPUs for about an eon of Internet time.
Nvidia currently uses both TSMC and Samsung for foundry partners, both of which have Arm licenses.
A lot of the microwave instant-analysis of “Oh, now Nvidia gets more of that sweet Apple business” is probably greatly overstated, and is at best a minor consideration. The sort of highly parallelized vector processing that Nvidia specializes in is increasingly being used in IT centers and high performance computing for a wide variety of tasks, their GPUs either supplementing or entirely replacing traditional CPUs. Nvidia continues to cram an ever-higher number of CUDA cores (designed for highly parallelized tasks) into its chips. Fully integrating Arm’s renowned power-savings techniques into each of those cores, and being the first to take advantage of that technology, is potentially huge.
All mergers are fought with peril, but if Nvidia pulls off the integration, Intel could be facing the biggest challenge to its dominance since PowerPC and DEC Alpha were pushing it in the late 1990s.
(@NOELreports) December 8, 2024
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