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The president's media company posted a massive loss in the latest quarter and plans to ditch new business lines and refocus as a forum for users to post their views.
The company behind the Truth Social platform said Monday that it lost $238 million in the three months through June as it branched into businesses unrelated to media, including crypto. That was more than 10 times the loss from a year earlier. The new chief executive, Kevin McGurn, said a yearlong effort to expand by branching into several new industries including online betting and crypto would now be largely abandoned as he refocuses the business on its social media mission.
Manifesto sketches out Meta's ambitions
Meta Platforms has released a new AI model for developers, emphasizing open-source access. CEO Mark Zuckerberg warned Monday in an online essay against concentrating advanced AI under a few companies or governments.
The new model, Muse Glimmer, includes a permissive open-source license, allowing broader use. Zuckerberg argues that open-source AI promotes fair development and helps keep the U.S. competitive. He cautions that AI controlled by select entities could lead to unfavorable outcomes. Zuckerberg also addressed concerns about "distillation," a method some accuse Chinese companies of using to extract technical features from U.S. AI models. He said he believes learning from observations is crucial for progress.
Trump extends Jones Act waiver 90 days
President Donald Trump has extended a waiver for 90 days, allowing foreign ships to transport goods among U.S. ports.
This includes oil, fertilizers, and other fossil fuel products. The president first waived the Jones Act on March 17 to ease transportation and reduce price pressures after the war with Iran began. The latest extension takes effect on August 17. The Pentagon will consult with the Maritime Administration to decide which voyages are exempt.
Traditional plastic forks shed harmful microplastics
At a Massachusetts lab, pebble-sized pellets are transformed into forks and films that won't leave microplastics in the environment. These are bioplastic pellets.
CJ Biomaterials ferments sugar to make plant-based polymers that microbes will consume. Bioplastics are an alternative to traditional plastics made of fossil fuels. Some see them as one of many solutions needed to confront the global challenge posed by plastic pollution. CJ Biomaterials makes polymers that are biobased and biodegradable. Pellets are then sold to other companies that can melt them down and mold them into products. The company is trying to replace conventional plastics that are single use or can't be recycled when contaminated with food.