RSnake Report 20241112

Table of Contents

• Geopolitical

• Technology

• Cybersecurity

• Business

Hello, and thanks for reading! I hope you are doing well. I am starting to see Xmas decorations all over the place. It’s like people forgot that Thanksgiving is a holiday. Brace for impact. Mariah Carey on repeat for two months!

The Russia-Ukraine war keeps pushing the envelope, not always in the expected direction - sometimes in a race to the bottom. On the front lines, a T-90M Proryv tank was filmed blown to pieces – but here’s the kicker: it was “protected” with ordinary bricks instead of reactive armor. This reminds me of when the Russians were found carrying blocks of wood instead of plastic explosives. Corruption at its finest.

In Kursk, North Korean soldiers were spotted on the Russian side, reportedly enthusiastic but struggling with basic communication—digital translators are being used to help them identify Ukrainian vs. Russian positions. The reports hint they may only be useful for defensive roles right now. I honestly don’t think that will stop Russia, and it looks like that may already be happening.

Russia and North Korea have massed 50,000 troops near Kursk for another offensive. Their “armor meat-waves” are reportedly facing losses to Ukrainian mines and drones, and it looks like at least some of those 50,000 troops may be North Korean as reported on. How many are actually deployed is anyone’s guess.

And speaking of offensive, Russian artillery was shown consistently missing stationary targets on Pervomayskyy Island, raising questions in my mind about Moscow’s artillery capabilities. This video is pretty telling about the extremely low-precision munitions that Moscow is sporting in combat. This is a stationary target; it’s huge - a literal island, and they can’t hit it after many attempts. 🫠 

Two dams were blown up, one near Kurakhove and another near Stari Terny, with flooding now impacting local villages. It’s unclear which side is responsible, though Russian forces have closed in on the area, and the damage cuts off much of the supply routes to the Ukranian rear, so it is extremely likely that it was the Russians.

In Moscow, drones managed to evade air defenses and create significant chaos as they flew in from over 700 km away. Most of the 28-30 drones were destroyed, with something like 7-8 making it all the way through. So that it something like a fourth of them getting through and penetrating all the way to Moscow. It doesn’t bode well for actual conflict with the West if Russia gets that far.

Ukraine is countering with innovative drones of its own. A Ukrainian “Vampire” drone, nicknamed Baba Yaga, has been outfitted with tank armor. This heavy bomber drone survived a direct hit, thanks to its dynamic armor, and returned to base in one piece. I’m not sure if I entirely believe this story, but if true, I think it would be the first time it’s happened. More importantly, it makes me wonder at which point the cost is worth it to save the heavy bomber drones. At which point do you just take the loss due to decreased carrying capacity, only slightly less likely to get destroyed, etc? That economic question is an interesting one. Adding to the tech arms race, Ukraine’s answer to the Mavic drone – the “Shmavic” – is now in play, as well as a play on their disrespect for Mavic, I suppose. I love the name, and by the looks of it, it is about as lightweight, utilitarian and militarized as they can make it.

Amid these developments, Russia is bleeding resources at an increasing rate, trying to project strength, but the numbers show staggering losses to gain minimal territory. In an interesting twist, the Russian government is reportedly planning to lay off 400,000 government employees to offset war costs and potentially redirect some of that labor into military service. This led me down a weird conspiracy path where there are some suggestions that the real population of Russia might be far smaller - like 60M instead of 146M as reported. That would explain why they are having difficulty staffing their military if there are far fewer people. However, this data point is refuted by sewage rates as far back as 2018, so I tend to believe that the real staffing issues are more related to finding talent that isn’t otherwise doing something important, isn’t injured/disabled, isn’t too young or old, and hasn’t found a way to bribe their way out of it.

Onto Southeast Asia, where China’s military tech scene keeps producing some eyebrow-raising innovations. This week, they rolled out a “landing party” of robot dogs, at least two of them armed, to simulate a future battlefield scenario. Is this the future of warfare? If so, it looks straight out a Black Mirror Episode.

I had to read this article twice to make sure I didn’t misunderstand it, but it looks like Taiwan may be sending HAWK air defense missiles to Ukraine. Why they are reducing their own military power projection to help Ukraine is a bit strange, given that they are threatened with airspace incursions on a daily basis by the CCP. But given that likely much of those air defense weapons were given to them by the United States it does beg to question how military proliferation will play out, and if we intend to arm one ally but that ally arms someone else. Did we know? Did we authorize that transfer? Will we replace those arms with new arms for Taiwan, knowing they may just give them away again? Interesting.

In a brief stop to the Middle East, there was another attempted assassination plot against Trump has reportedly emerged, this time tied to Iranian operatives. We haven’t been hearing much from Iran over the past few days, and I suspect that has a lot to do with the degraded military of both Hezbollah and Iran. There are a few rockets flying, but nothing like we had been seeing prior to Israel’s sorties a few weeks ago. I’ll keep my eye on it.

Onto Domestic news, where FEMA is facing backlash after it was revealed that an employee reportedly told hurricane relief workers to skip over homes with pro-Trump signs. The agency has since expressed its horror and taken “extreme actions” to prevent such incidents in the future. Funny enough this was wholly refuted by the New York Times fact-checkers as fake news, and then they did a bit of a writeup on the firing later.

In a more sinister trend, there’s an emerging online movement advocating the use of “aqua tofana” (poison) to handle political disagreements within marriages. I’ve got to think that at least some people will take this seriously, and that is very scary and sad that it comes to literally murdering one’s spouse. In the end, it appears that in exit polling is that the majority of voters felt that the Democrats were too focused on social issues and not enough on helping the middle class. That jives with an internal email to democratic leadership shared by Gregg Hurwitz as well - it’s worth a read.

Trump’s recent victory has sparked chaos in the Senate, with Mitch McConnell reportedly engineering a “coup” against Trump’s agenda by scheduling leadership elections early. Candidates opposing Trump’s platform are in the running, and it’s shaping up to be a high-stakes internal battle. It looks likely that Rick Scott will get the nod from the Senate majority, but that remains to be seen.

The U.S. Congress recently shot down an aid package for Ukraine, signaling that European nations may need to increase their contributions if they want to maintain current support levels for Kyiv. Basically, the same day that happened, you started seeing Europeans demanding that Europe step up.

Briefly, in economic news, Ethereum surged past $3,100 following the U.S. election results, highlighting how sensitive crypto markets can be to political winds. It’s a good reminder of just how interconnected the two have become.

Okay, onto the articles!

Geopolitical

Donald Trump has begun the process of appointing key positions in his incoming administration, including naming Susie Wiles as chief of staff and Tom Homan as border tsar. His transition team is actively vetting candidates for various cabinet roles and other significant appointments ahead of his inauguration scheduled for January 20, 2025. These appointments will influence U.S. domestic and foreign policy, particularly concerning immigration, environmental regulations, and national security.

• Trump has made several key appointments for his transition team, including crucial roles in national security and immigration.

• The selection of cabinet members will shape U.S. policies on immigration and environmental issues.

[RSnake: I have been seeing a few picks behind the scenes btw, from my Republican friends that have yet to be announced. Some are better than others, as you might imagine, but the race is on for very good talent, and they are doing their best to do due diligence quickly. We shall see how these appointees pan out.]

Source: https://www.bbc.com/news/articles/cx24gze60yzo

The Pentagon is developing advanced robotic weapon systems, particularly an AI-enabled autonomous gun called 'Bullfrog,' aimed at countering the rising threat of weaponized drones targeting US troops. As adversarial drone technology proliferates, the military is seeking efficient ways to protect its forces, including integrating advanced robotics and AI in its defense strategies.

• The Pentagon is testing an AI-enabled robotic system to shoot down drones with precision.

• The military faces increasing threats from weaponized drones, prompting innovations in counter-drone strategies.

[RSnake: Not super impressive looking - basically a machine gun on a gimbal with a camera, but I have a feeling the cheaper and dirtier a system, the better it will work when the cost of drones is declining so rapidly.]

Source: https://www.wired.com/story/us-military-robot-drone-guns/

Sweden's government has blocked the construction of 13 offshore wind farms due to concerns that their presence could severely limit the country's early-warning missile detection capabilities against potential Russian attacks. This decision reflects the growing intersection of national security and renewable energy development in Europe, particularly in light of ongoing threats from Russia and rising electricity prices resulting from the conflict in Ukraine.

• Sweden blocked the construction of wind farms to protect national security against missile threats.

• The decision reflects a broader trend in Europe where energy independence is increasingly viewed as linked to national defense.

[RSnake: Interesting - I wonder how they plan to deal with power stability in that case. Not that wind is all that great, to begin with, but still.]

Source: https://www.defensenews.com/global/europe/2024/11/11/why-sweden-nixed-new-wind-farms-for-fear-of-missing-russian-missiles/

A Japanese minesweeper capsized in port after a fire, leaving one sailor missing. Concurrently, a Russian Yasen-class nuclear submarine was detected near Japan's territorial waters for the first time, prompting heightened military vigilance from the Japan Maritime Self-Defense Force.

• A Japanese minesweeper sank due to an onboard fire, resulting in one crew member missing.

• A Russian advanced submarine was sighted near Japan, marking a significant military presence in the region.

Source: https://news.usni.org/?p=113258

Israeli military actions in Lebanon have resulted in numerous civilian casualties, with reports indicating at least 38 deaths, including several children, over recent days. The conflict has escalated since September, involving increased bombings by Israel and retaliatory rocket attacks from Hezbollah, amid a backdrop of ongoing tensions related to Israel's actions in Gaza.

• Israeli attacks on Lebanon have killed at least 3,189 people since late September.

• Hezbollah is retaliating against Israeli military actions, claiming to support Hamas and the people of Gaza.

[RSnake: And yet, Hezbollah won’t stop firing rockets. So I guess they just don’t care about the people there, right Aljazeera? Because I don’t think a single bomb was dropped by Israel before Hezbollah started shooting rockets. So one might make someone think that Israel might stop if Hezbollah stops. And if that is your goal… to stop these horrific losses from happening… Or is it your goal to kill Israel and you couldn’t care less about these casualties except for the fact that you are visibly losing? My eyes hurt from rolling so hard reading Aljazeera.]

Source: https://www.aljazeera.com/news/2024/11/10/israeli-attack-on-almat-lebanon-kills-several-people-including-children?traffic_source=rss

World leaders are gathering in Baku, Azerbaijan for COP29, a climate summit, amid concerns about the future of U.S. commitments to combating climate change following Donald Trump's recent election. The potential withdrawal of the U.S. from the Paris Agreement could impact global efforts to address climate change and provide financial support to developing nations facing severe climate-related challenges.

• World leaders are meeting at a global climate summit in Baku.

• The election of Donald Trump may lead to a U.S. withdrawal from the Paris Agreement.

• The U.S. is likely to stop providing financial aid to developing countries affected by climate change.

[RSnake: Yep, and I am sure China will be brought to heel for their far larger contribution to greenhouse gasses. Right?]

Source: https://www.nytimes.com/2024/11/11/climate/cop29-climate-baku-azerbaijan.html

The UN has issued a warning about an imminent famine in Gaza, calling for urgent humanitarian action to address the situation. The ongoing conflict and blockade have exacerbated the humanitarian crisis, leading to severe food shortages and a need for international intervention.

• The UN has declared that Gaza is facing imminent famine.

• Immediate humanitarian action is needed due to severe food shortages.

[RSnake: I was just reading about the fact that we have all but eliminated famine worldwide except for places that are war-torn. Interesting that Hamas wanted famine for their people.]

Source: https://www.aljazeera.com/videos/2024/11/9/un-warns-of-imminent-famine-in-gaza-urges-humanitarian-action?traffic_source=rss

Lahore, Pakistan, is currently experiencing severe air pollution, with air quality index readings exceeding 1,000, leading to a public health crisis that has resulted in hundreds of hospitalizations. The pollution is primarily caused by vehicle emissions, industrial activities, and agricultural burning practices in both Pakistan and neighboring India, with officials implementing emergency measures and closures to mitigate the immediate effects.

• Lahore's air quality has reached hazardous levels, affecting public health.

• Government officials are implementing emergency measures in response to the smog crisis.

• The pollution results from a combination of local and cross-border agricultural and industrial practices.

Source: https://www.bbc.com/news/articles/cm20k76d5xno

Venezuela is experiencing a severe economic crisis characterized by hyperinflation, mass unemployment, and commodity shortages, leading to significant social unrest and migration of its population. The government's economic mismanagement has resulted in unsustainable debt levels and failures in essential services, fostering an environment of political instability and increased violence. These conditions illustrate the complex interplay of economic indicators contributing to the country's societal collapse.

• Venezuela is facing hyperinflation and significant economic challenges, resulting in severe shortages of essential goods.

• Mass unemployment and social unrest are leading to increased violence and a mass migration of the population.

• The government's inability to manage its debt and public services exacerbates the crisis, contributing to political instability.

[RSnake: This has been going on for a while, I am honestly surprised they have lasted this long. Their demonetization efforts slowed things down slightly. But it’s like putting a bandaid on a severed arm. If you’re unfamiliar here is an article about it.]

Source: https://www.zerohedge.com/geopolitical/early-warning-signs-total-economic-and-social-collapse

Australia is moving forward with a significant naval expansion, preparing to select between Japanese and German designs for its new general-purpose frigates under an $11 billion contract. This effort comes amid increasing security concerns in the Indo-Pacific region, particularly regarding China's military buildup. The plan includes both acquiring foreign-built vessels and manufacturing additional ships domestically to enhance naval capabilities.

• Australia has shortlisted Japan's Mogami-class and Germany's MEKO A-200 for its $11 billion frigate contract.

• The decision to expand the naval fleet aims to counter regional security threats, particularly from China.

• Australia plans to double its warship fleet over the next decade as part of a broader maritime strategy.

Source: https://www.eurasiantimes.com/?p=218562

A new law in Iraq could lower a girl's age of consent from 18 to 9, allowing for arranged marriages at 9 years old and giving religious authorities the power to carry out these marriages. The law has been met with opposition from women's groups and Iraqi MPs, who say it would legalize child rape. Protests have taken place in the country's capital and other cities.

• Iraqi girls may be forced into marriage at a young age if the law passes.

• The new law would give religious authorities the power to carry out marriages without female consent.

[RSnake: They want to be more in line with the Prophet Mohammed who married a 9 year old girl. I’m sure most of the women’s rights protesters in the United States will turn a blind eye to this for whatever reason Muslim countries get a pass when abusing their female population, but it is pretty gross.]

Source: https://www.foxnews.com/world/iraq-law-could-lower-girls-age-consent-adult-from-18-9-legalizes-child-rape

Technology

Ecosia and Qwant, two European search engines, have formed a partnership to create an independent search index, aiming to reduce their reliance on major tech companies like Google and Microsoft. The new venture is expected to enhance their search capabilities, particularly in the context of increasing innovation driven by generative AI, while also focusing on data sovereignty and privacy within Europe.

• Ecosia and Qwant are developing their own search index to lessen dependency on Google and Bing.

• The partnership aims to advance search product utility by combining generative AI and up-to-date information.

[RSnake: Good - we need more competition, especially in search. I wish them well, but it is a VERY hard road ahead of them. Adoption is the problem and if you don’t own the browser, forget it. That Brave Search and Duck Duck Go Search exist at all is a testament to hard engineering and alternative business models.]

Source: https://techcrunch.com/?p=2911883

Meta is partnering with universities in the U.S. and U.K. to test virtual reality (VR) in education as part of its initiative to make educational experiences more engaging. The company is also introducing a 'digital twin' metaversity program in Europe, allowing universities to replicate their campuses in a virtual environment for immersive classes. This follows Meta's ongoing investment in VR technology, which has resulted in significant financial losses as the company continues to develop and scale its VR ecosystem.

• Meta has launched a beta program with 13 universities to test VR and mixed reality products in education.

• The digital twin metaversity program will replicate real-world campuses in virtual environments across European universities.

Source: https://techcrunch.com/?p=2913172

Australia is experiencing the shutdown of its 3G mobile network, leading to significant disruptions as 4G and 5G devices may also lose service capabilities. Tens of thousands of mobile phones have been reported as unable to access emergency calling services due to compatibility issues with new technology standards. This situation has been marked by inadequate communication from telecommunications companies and government regulators, resulting in confusion and frustration among consumers.

• The shutdown of Australia's 3G network is causing 4G and 5G phones to be blocked, affecting users' ability to make calls.

• Approximately 740,000 4G phones were identified as incompatible with emergency services after the switch-off.

[RSnake: And here I thought I was a cowboy coder - this is a whole new level.]

Source: https://medium.com/@jamesdwho/australias-3g-shutdown-why-your-4g-5g-phone-is-now-blocked-5900cd5361e2

Researchers are making advances in quantum computing, specifically in how quantum memory can enhance the modeling of complex quantum systems. Recent studies demonstrate that utilizing quantum memory can dramatically reduce the number of measurements needed, facilitating a clearer understanding of quantum dynamics. This progress may also play a crucial role in proving the concept of quantum advantage, indicating tasks that quantum computers can perform more efficiently than classical ones.

• Researchers are exploring ways quantum computers can better understand complex quantum systems.

• Quantum memory can exponentially reduce the number of measurements required for studying quantum states.

• Advancements could help establish quantum advantage in computational tasks.

[RSnake: I would tell you a quantum memory joke, but I remembered it and forgot it at the same time.]

Source: https://www.wired.com/story/quantum-memory-proves-exponentially-powerful/

Open source projects are receiving significant equity-free funding from a variety of sources, including corporations and venture capital firms. Initiatives like Sequoia's fellowship program and Sentry's Pledge aim to support critical open source technologies, emphasizing the increasing financial needs for maintaining these projects in the tech industry.

• Major funding from firms like Sequoia and Sentry is being allocated to bolster open source projects.

• The financial support is essential for sustaining critical software tools and developers within the open source community.

[RSnake: As it always should have been. It’s hard to overstate how important so many of these things are to companies worldwide.]

Source: https://techcrunch.com/?p=2910027

Cybersecurity

Amazon experienced a data breach involving employee information due to a leak of data stolen during the May 2023 MOVEit attacks. The breach involved over 2.8 million lines of employee data, which was published by a threat actor known as Nam3L3ss and sourced from a third-party service provider related to Amazon.

• A significant data breach occurred at Amazon, with employee contact information exposed.

• The breach is linked to the MOVEit data theft attacks that affected multiple organizations globally.

Source: https://www.bleepingcomputer.com/news/security/amazon-confirms-employee-data-breach-after-vendor-hack/

YubiKey is reportedly still selling old stock that contains firmware vulnerable to the EUCLEAK attack without properly scrapping or replacing these compromised devices. This situation raises questions about the company's practices concerning the distribution of security hardware, especially when more secure options may be available for users concerned about their data safety.

• YubiKey is selling devices with known vulnerabilities instead of replacing them.

• The EUCLEAK vulnerability allows attackers to extract secret keys from the devices.

[RSnake: Yeah, this is one of those things that cannot be patched. You just have to throw away the old keys. One of the many reasons I do not like hardware business models.]

Source: https://news.ycombinator.com/item?id=42110901

A critical vulnerability, CVE-2024-5910, has been discovered in Palo Alto Networks' Expedition tool, which can be exploited without authentication, allowing attackers to take over admin accounts and access sensitive data. The flaw was disclosed four months ago, and its exploitation has now been confirmed, prompting urgency for affected enterprises to patch the issue as it poses significant risks to critical configuration data.

• The CVE-2024-5910 vulnerability allows unauthorized access to sensitive information in Palo Alto Networks' Expedition tool.

• CISA has included this vulnerability in its Known Exploited Vulnerabilities catalog.

[RSnake: At this point if you haven’t patched up, you’re likely already compromised.]

Source: https://www.vulnu.com/p/attackers-exploiting-palo-alto-expedition-bug

Research demonstrates that side-channel attacks, particularly using machine learning, can effectively compromise web browser security by exploiting shared resources within the system, such as CPU cache and system interrupts. New findings reveal that system interrupts can leak user activity, pointing to the need for improved security measures in modern computing systems.

• The use of machine learning in side-channel attacks has shown a high success rate in identifying user activity through resource sharing in computing systems.

• System interrupts have been found to leak user activity, indicating a previously underexplored security vulnerability in how operating systems handle multitasking.

[RSnake: Yep. Side channels attacks are gnarly. I found 24 of them for one presentation alone called HTTPS can Byte Me back in my research days.]

Source: https://jackcook.com/2024/11/09/bigger-fish.html

North Korea is reportedly generating a significant portion of its GDP from ransomware attacks amidst international sanctions, with possible military cooperation in cyber capabilities involving Russia. In response to increasing cyberattacks, U.S. authorities have mandated a halt on the export of advanced AI chips to China, aiming to restrict access to sensitive technology critical for national security.

• North Korea's cyber activities may be financing its nuclear program.

• The U.S. is tightening restrictions on tech exports to China to prevent the advancement of AI technologies.

[RSnake: Not that this will stop them, but it’s a step in the right direction. The real thing that will limit them on the LLM front is their own censorship btw. But for smaller purpose built models, like the ones you use on drones, censorship doesn’t play a role.]

Source: https://thereadable.co/?p=40966

Hackers are targeting Windows machines with a technique that uses concatenated ZIP files to deliver malware without detection by security solutions. This method exploits how different ZIP parsers interpret and handle these specially crafted archives, potentially allowing malicious payloads to be hidden within files that appear harmless.

• Hackers utilize concatenated ZIP files to evade detection by traditional security measures.

• The different behaviors of ZIP parsers can lead to hidden malicious payloads remaining unnoticed.

[RSnake: I can’t believe we’re still dealing with zip vulns in 2024. This has been a problem going on 30 years now.]

Source: https://www.bleepingcomputer.com/news/security/hackers-now-use-zip-file-concatenation-to-evade-detection/

Multiple vulnerabilities have been discovered in the Mazda Connect infotainment system that could allow attackers to execute arbitrary code with root permissions. These security issues, including SQL injection and command injection flaws, remain unpatched and could potentially impact vehicle operation and safety if exploited, particularly through unauthorized physical access methods.

• Vulnerabilities in the Mazda Connect infotainment system can lead to arbitrary code execution.

• Unauthorized physical access is a significant risk, especially during vehicle service.

[RSnake: I’m not sure this is as big a risk as they are making it out to be. If someone wants to tamper with your vehicle there are hundreds of ways to do it. Now if they could do it remotely, I’d be worried. And I bet there are ways to do similar attacks remotely in some cases.]

Source: https://www.bleepingcomputer.com/news/security/unpatched-mazda-connect-bugs-let-hackers-install-persistent-malware/

Upwind, an Israeli cloud cybersecurity startup, is in the process of raising $100 million at a valuation of approximately $850-900 million. The funding round, which is nearly finalized, comes as the company aims to expand its workforce and enhance its research and development in cloud security solutions, particularly addressing vulnerabilities and alert management in cybersecurity.

• Upwind is raising $100 million to enhance its cloud cybersecurity solutions.

• The company has grown significantly, acquiring dozens of Fortune 500 clients and expanding its staff.

Source: https://techcrunch.com/?p=2912614

Apple's iOS 18.1 introduces a security measure called 'inactivity reboot' that resets iPhones after approximately four days of being locked, complicating efforts for unauthorized access by law enforcement. This feature aims to enhance the device's security against potential breaches by both state actors and malicious individuals, amid ongoing attempts to exploit vulnerabilities in Apple's software.

• The 'inactivity reboot' feature in iOS 18.1 increases the difficulty for law enforcement to access locked devices.

• Apple continuously enhances its security measures to protect users' data from potential exploits and surveillance.

[RSnake: It’s a cool feature. I know why the feds dislike it, but honestly, there are many uses cases where it’s wise.]

Source: https://gizmodo.com/?p=2000522523

Business

The US Supreme Court is set to determine whether a shareholder lawsuit against Meta's Facebook related to the Cambridge Analytica data breach can move forward. The lawsuit claims that Facebook did not adequately disclose the incident in its risk statements, potentially misleading investors regarding a significant data privacy issue affecting millions of users.

• Meta may face legal consequences over its handling of the Cambridge Analytica data breach.

• The Supreme Court's decision could set a precedent for how companies disclose risks to their shareholders.

[RSnake: Interesting. I don’t think we should punish companies for overlooking the potential for scrapers. That’s nearly impossible for them to stop and cost-prohibitive. In this case, they’re really going after them for not disclosing the event, but it’s hard to even write that up in a way that won’t make people think you were hacked. Google scrapes companies every day - does that all need to be disclosed now?]

Source: https://www.darkreading.com/application-security/facebook-supreme-court-dismiss-cambridge-analytica-lawsuit

U.S. importers are facing challenges with potential dockworker strikes, the possibility of new tariffs, and rising shipping rates as they prepare for the Spring season. The ongoing labor negotiations and international trade decisions may disrupt supply chains and increase costs significantly for companies. Additionally, congestion at West Coast ports and issues at Canadian ports are further compounding these logistical difficulties.

• U.S. companies may deal with dockworker strikes affecting import capabilities.

• The potential for new tariffs could disrupt international trade with increased costs.

• Rising shipping rates and port congestion are complicating logistics for importers.

[RSnake: Yep, we do need to get a handle on this. It will continue to mess with our ability to keep prices down. Though, if Trump’s tariffs take off, maybe we won’t need much shipping anyway because any international goods will be too expensive to buy.]

Source: https://gcaptain.com/?p=217120

Hedge funds that bet against Tesla have incurred substantial losses, exceeding $5 billion, largely due to the stock's sharp increase following Donald Trump's election victory. While Tesla's stock has surged, outperforming the wider electric vehicle sector, concerns are raised about potential negative impacts from anticipated Trump administration policies on renewable energy.

• Hedge funds lost over $5 billion on short positions against Tesla after Trump's election.

• Tesla's stock gained nearly 30% since election day, contrasting with declines in the broader EV market.

[RSnake: Wow! He’s got enough billionaire friends he could create a short squeeze, too. I’d avoid any large bets against him with unlimited downside.]

Source: https://fortune.com/2024/11/10/tesla-stock-tsla-short-sellers-loss-5-billion-trump-election-elon-musk/

Ecuador is experiencing severe power cuts of up to 14 hours a day due to unusually dry weather that has depleted water levels in its hydroelectric dams. This crisis is compounded by construction faults in key energy projects and the country's heavy reliance on hydroelectric power, which accounts for about 75% of its electricity generation. Neighboring countries are also facing drought-related challenges affecting their hydroelectric output, prompting discussions on diversifying energy sources to mitigate future risks associated with climate change.

• Ecuador is experiencing power cuts of up to 14 hours a day due to drought conditions.

• The reliance on hydroelectric power is exposing vulnerabilities in Ecuador's energy infrastructure.

• Criticism is directed at the government for not taking earlier actions to address water conservation for energy production.

Source: https://www.ft.com/content/059a0657-d508-4c34-a517-57e5cca0ee4c

Bitcoin's price has reached over $81,000, driven by optimism regarding the policies of incoming President Donald Trump. The cryptocurrency has experienced a significant rally, increasing more than 14% in the past week and over 112% in the last year.

• Bitcoin surged on expectations for a pro-cryptocurrency regulatory environment under Donald Trump.

• The cryptocurrency topped $81,000, marking a substantial increase from previous levels.

[RSnake: It’s starting to look like the prophecy of reaching $100k is possible.]

Source: https://www.marketwatch.com/story/bitcoin-briefly-tops-80-000-for-first-time-extending-its-trump-fueled-rally-9f979544?mod=mw_rss_topstories

Nintendo has filed a lawsuit against streamer Jesse Keighin for allegedly pirating and streaming Nintendo Switch games, including titles before their official release. In response to cease and desist orders, Keighin has reportedly opened new channels to continue streaming and promoting piracy, leading to potential damages claimed by Nintendo amounting up to $7.5 million.

• Nintendo is suing a streamer for repeatedly pirating and streaming its games.

• The streamer has openly challenged Nintendo's efforts to shut down his channels.

Source: https://www.404media.co/nintendo-sues-streamer-of-emulated-pre-released-games/

Supply chain leaders are increasingly adopting artificial intelligence to improve demand forecasting and inventory management in response to challenges posed by fluctuating consumer behaviors and market volatility. This trend has accelerated since the COVID-19 pandemic, which revealed the inadequacies of traditional forecasting methods that relied heavily on historical sales data.

• AI is being utilized to enhance demand forecasts by analyzing diverse data sources.

• The implementation of AI requires a clear strategy, robust data infrastructure, and cross-functional collaboration.

• Companies adopting AI in supply chain management are already experiencing improved efficiency and customer satisfaction.

[RSnake: And it will be right… most of the time. I am just curious what happens when it is catastrophically wrong. It would help if you had hard-coded limits to use it in this way.]

Source: https://www.supplychainbrain.com/blogs/1-think-tank/post/40560-ai-the-game-changer-in-supply-chain-demand-forecasting

New rules have been implemented in the US requiring airlines to provide automatic refunds for canceled or significantly delayed flights, as well as for services not rendered. These regulations also mandate clearer disclosure of fees and include specific guidelines for baggage refunds. The introduction of these rules is a response to increased consumer complaints and aims to enhance passenger rights.

• Airlines must provide automatic refunds for canceled or delayed flights without requiring customers to request them.

• New regulations require greater transparency from airlines regarding additional fees and services provided.

[RSnake: I always liked that feature of European flights. It forces airlines to be in alignment with their customers’ needs.]

Source: https://www.wired.com/story/us-airlines-new-rules-on-refunds-for-canceled-flights/

OpenAI is experiencing significant financial challenges and is projected to lose $5 billion this year. As the technology landscape shifts, there are concerns about OpenAI's reliance on Microsoft for funding and computing resources, and competing companies are pivoting towards government contracts in defense and enterprise solutions.

• OpenAI's losses are linked to its costly operations and reliance on a subscription model, with a majority of users not paying.

• Competitors like Meta and Anthropic are focusing on government contracts, indicating a market shift in AI development.

[RSnake: I don’t think anyone cares. Burn more cash. Make it better. That’s the mantra until it hits AGI. Microsoft can afford it, and there isn’t a lot of room for whomever is second place. That said, I still think sovereign models will win the day.]

Source: https://gizmodo.com/?p=2000522109

The average age of homebuyers in the U.S. has increased to 56, marking a shift toward older and wealthier individuals entering the housing market. Homeownership remains a significant challenge, particularly for families, as rising mortgage rates and costs have led to a greater number of cash transactions and a decline in mortgage approvals for certain demographics, particularly Black Americans. Additionally, single women are increasingly seeking homeownership, reflecting changing societal trends regarding marriage and family.

• The average age of homebuyers has reached a record high of 56.

• There is a notable increase in cash home purchases as mortgage rates remain high.

• Demographic shifts indicate a rise in homeownership among single women, while Black homeownership rates are declining.

[RSnake: Prices for a lot of commodities have been skyrocketing which we all notice, but prices for other things like homes have steadily increased the entire time. Like boiling the frog. It’s only when both get seriously bad that we see people voting differently. If we see costs increase by 35% it tends to get violent.]

Source: https://www.fastcompany.com/91225485/homebuyers-are-now-the-oldest-and-wealthiest-in-history

Demand for mental health services surged after the election, with a 22% increase in appointments on Zocdoc and calls to Lyra Health's 24/7 helpline more than doubling. Demand for birth control also increased, with orders from Wisp rising 600% starting November 5. Women are stockpiling these offerings in anticipation of further restrictions.

• Mental health services saw a significant surge in demand after the election.

• Demand for birth control increased significantly, with orders from Wisp rising 600% starting November 5.

[RSnake: Interesting follow on effect of the election and just shows how distressed a huge chunk of the US population is.]

Source: https://www.fastcompany.com/91225033/medical-abortion-birth-control-wisp-mental-health-zocdoc-demand-surge-after-election

The Panama Canal Authority is planning to double the number of containers transiting the canal by implementing a water conservation strategy and expanding cargo transfer capacity by 2045. This follows recent drought conditions that forced ships to use alternative routes. Additionally, concerns exist regarding a potential trade war between China and the U.S., which could impact LNG trade.

• The Panama Canal aims to double its container capacity from 8.3 million to over 13 million by 2045.

• Water conservation measures are being put in place due to recent droughts affecting shipping routes.

• Potential trade tensions between the U.S. and China may create challenges for LNG transport through the canal.

[RSnake: Interesting… they are betting on greater need of transporting. I think at least within the north and south American continents that could certainly be true for 20+ years.]

Source: https://gcaptain.com/?p=217046

Thanks so much for reading, and once again, please forward this newsletter to anyone you think should be reading it. It’s how the newsletter grows, how I know you love it and encourages me to keep going. I’d really appreciate it!