October 3, 2022
Photo: boonchai wedmakawand/Moment/Getty Images
Good morning! Businesses are facing a surge in attacks using stolen identity credentials — in fact, that’s now the largest source of breaches. So what can your company do about it?
While the theft of passwords and other credentials has long been a part of the hacker playbook, identity-based attacks have risen to the forefront in the last few years. That’s not surprising, with so many employees now working outside of a corporate network firewall, not to mention the rise of shadow IT. But it still requires swift action from corporations.
Focusing on identity is critical to increasing security because today, “all attacks become identity-based attacks” at some stage of the incident, said Todd McKinnon, co-founder and CEO of widely used identity platform Okta.
Getting improved visibility into IT environments is key. The adoption of an identity threat detection tool is worth considering, as is technology for helping to secure the use of unmanaged applications, or “shadow IT,” experts said. And more robust forms of authentication than the humble password can also go a long way.
— Kyle Alspach
It’s hard to build credit, but neobanks think they have a solution: secured credit cards.
Secured cards work by fronting money to subprime borrowers. Neobanks’ cards work the same way, but with a twist: Chime, Varo, and GO2bank offer people a way to deposit money into a credit-builder account, which determines their credit limit. They can then pay off the credit card with the credit-builder balance.
There are things these banks should watch out for. Lenders should be concerned about “mistakenly granting credit to high-risk applicants,” fintech analyst Alex Johnson told Protocol’s Veronica Irwin. These cards don’t actually indicate financial responsibility.
The CFPB has its eye on these offerings, too. But the CFPB has yet to bring neobanks fully under its regulatory purview and hasn’t consistently supervised them.
Critics say that neobanks market these cards in misleading ways. But fintechs disagree, saying they’re clear with customers about risks. “Access should not be a privilege,” said Abhijit Chaudhary, chief product officer at GO2bank parent company Green Dot. “Credit-building is a journey, and a big enterprise initiative for us — secured credit cards are just one part.”
Read more about how neobanks are trying to shake up the world of credit scoring .
Been hoping you could staff up a factory floor with Tesla’s new humanoid robots? Then you’re in for a long wait.
Elon Musk showed off his Optimus robot on Friday, at Tesla's annual AI Day. And there … wasn’t all that much to show off.
But the criticism has been biting. AI expert Gary Marcus rounded up a lot of it, and there are some fairly major concerns.
All told, Optimus is a long way off being worth the $20,000 Musk claims it could sell for. But this kind of setback has never bothered Musk before, so who knows what will happen at AI Day 2023.
— Jamie Condliffe
Many business leaders aren’t sure where to begin when it comes to migrating to the cloud. To help organizations adapt to this revolution, Capital One launched Capital One Software, a new enterprise B2B software business focused on providing cloud and data management solutions.
The Office of Fossil Energy has been around for a while. But it’s got a new name, and now it has a new mission.
Carbon management will be the new focus of the Office of Fossil Energy and Carbon Management (or FECM). Managing carbon will be one of the key tasks of the 21st century if we’re to avoid serious climate damage, and it comes in a few flavors.
The office marks a changing mentality among government leaders toward climate tech. Rather than allowing carbon to fly willy nilly (my editor’s words, not mine) into the atmosphere, the renamed office shows leaders are trying to actively manage carbon.
Still, there’s some irony. At the same time the U.S. is pushing people to use fossil fuels, it’s creating new tech that can capture carbon from burning fossil fuels. “There’s this very weird tension of being like, ‘We're going to create a problem abroad and then sell the solution to the problem,” Brian said.
— Sarah Roach
Circle CEO Jeremy Allaire said operating crypto without regulation is “completely unrealistic.”
Stellantis’s Carlos Tavares expects chip supply to remain “very complicated” until 2023:
Toyota CEO Akio Toyoda thinks the road to electric vehicles is longer than many people say:
Tim Cook doesn't think people fully understand the metaverse:
Evolve starts Wednesday. Execs from Lacework, Cisco, and other companies are expected to speak.
Google is hosting a hardware event on Thursday for its Pixel 7 smartphone and Pixel Watch.
Tech Prom is Wednesday at The Anthem in Washington, D.C. The Center for Democracy and Technology is the host.
TwitchCon begins Friday at the San Diego Convention Center.
Google shut down Google Translate in China because of low usage. It was one of a few Google products that still existed in China.
Celsius's Alex Mashinsky withdrew $10 million just before funds were frozen on the platform, according to The Financial Times. The former CEO used most of that money to pay state and federal taxes.
Activision’s Frances Townsend is stepping down as compliance chief and becoming an adviser to the board and CEO Bobby Kotick. Townsend was criticized for her response to sexual assault claims last year.
Don’t feel like going through Elon Musk’s texts yourself? We put together a guide of people he texted with and what they wanted.
The next version of Google’s Android Compatibility Definition document will require hardware makers to support the AV1 video codec for both tablets and phones.
The business card is dead. Long live … the QR code?
Tesla hit a vehicle delivery record, delivering 343,830 vehicles to customers in the last quarter as it recovers from supply chain problems.
Lucky enough to be recruiting? Here is LinkedIn’s best advice for sourcing talent.
TikTok is bringing live shopping to the U.S., sources told The Financial Times. The platform partnered with LA-based TalkShopLive to bring the feature to the U.S.
The future of computing will use new hardware, but the software that runs on it might be what really pushes forward technologies like quantum and neuromorphic computing.
WW2 was decided by steel and aluminum, and the Cold War by atomic weapons. What’s next? Chris Miller, a professor at Tufts University, thinks that chips could be what decides the future.
In an interview with Protocol’s Hirsh Chitkara, Miller touched on the evolving military uses of semiconductors. “Militaries are confronting semiconductors everywhere they turn,” he said. “Their ability to access the right types of semiconductors and more advanced chips is crucial for every aspect of the modern battlefield.”
The flexibility of the cloud helps companies like Capital One unlock access to their data with performance that can scale instantly. But this flexibility and scale can also create a unique challenge for organizations and users who are not proficient in cloud optimization.
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