VulcanForms was founded in 2015 by Dr. Hart and one of his graduate students, Martin Feldmann. They pursued a fresh approach for 3-D printing that uses an array of many more laser beams than existing systems. It would require innovations in laser optics, sensors and software to choreograph the intricate dance of laser beams.

By 2017, they had made enough progress to think they could build a machine, but would need money to do it. The pair, joined by Anupam Ghildyal, a serial start-up veteran who had become part of the VulcanForms team, went to Silicon Valley. They secured a seed round of $2 million from Eclipse Ventures.

The VulcanForms technology, recalled Greg Reichow, a partner at Eclipse, was trying to address the three shortcomings of 3-D printing: too slow, too expensive and too ridden with defects.

Arwood Machine this year.

Arwood is a modern machine shop that mostly does work for the Pentagon, making parts for fighter jets, underwater drones and missiles. Under VulcanForms, the plan over the next few years is for Arwood to triple its investment and work force, currently 90 people.

VulcanForms, a private company, does not disclose its revenue. But it said sales were climbing rapidly, while orders were rising tenfold quarter by quarter.

Cerebras, which makes specialized semiconductor systems for artificial intelligence applications. Cerebras sought out VulcanForms last year for help making a complex part for water-cooling its powerful computer processors.

The semiconductor company sent VulcanForms a computer-design drawing of the concept, an intricate web of tiny titanium tubes. Within 48 hours VulcanForms had come back with a part, recalled Andrew Feldman, chief executive of Cerebras. Engineers for both companies worked on further refinements, and the cooling system is now in use.

Accelerating the pace of experimentation and innovation is one promise of additive manufacturing. But modern 3-D printing, Mr. Feldman said, also allows engineers to make new, complex designs that improve performance. “We couldn’t have made that water-cooling part any other way,” Mr. Feldman said.

“Additive manufacturing lets us rethink how we build things,” he said. “That’s where we are now, and that’s a big change.”

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As Midterms Loom, Mark Zuckerberg Shifts Focus Away From Elections

Mark Zuckerberg, Facebook’s chief executive, made securing the 2020 U.S. election a top priority. He met regularly with an election team, which included more than 300 people from across his company, to prevent misinformation from spreading on the social network. He asked civil rights leaders for advice on upholding voter rights.

The core election team at Facebook, which was renamed Meta last year, has since been dispersed. Roughly 60 people are now focused primarily on elections, while others split their time on other projects. They meet with another executive, not Mr. Zuckerberg. And the chief executive has not talked recently with civil rights groups, even as some have asked him to pay more attention to the midterm elections in November.

Safeguarding elections is no longer Mr. Zuckerberg’s top concern, said four Meta employees with knowledge of the situation. Instead, he is focused on transforming his company into a provider of the immersive world of the metaverse, which he sees as the next frontier of growth, said the people, who were not authorized to speak publicly.

hearings on the Jan. 6 Capitol riot have underlined how precarious elections can be. And dozens of political candidates are running this November on the false premise that former President Donald J. Trump was robbed of the 2020 election, with social media platforms continuing to be a key way to reach American voters.

2000 Mules,” a film that falsely claims the 2020 election was stolen from Mr. Trump, was widely shared on Facebook and Instagram, garnering more than 430,000 interactions, according to an analysis by The New York Times. In posts about the film, commenters said they expected election fraud this year and warned against using mail-in voting and electronic voting machines.

$44 billion sale to Elon Musk, three employees with knowledge of the situation said. Mr. Musk has suggested that he wants fewer rules about what can and cannot be posted on the service.

barred Mr. Trump from its platforms after the riot at the U.S. Capitol on Jan. 6, 2021, has worked over the years to limit political falsehoods on its sites. Tom Reynolds, a Meta spokesman, said the company had “taken a comprehensive approach to how elections play out on our platforms since before the U.S. 2020 elections and through the dozens of global elections since then.”

recently raised doubts about the country’s electoral process. Latvia, Bosnia and Slovenia are also holding elections in October.

“People in the U.S. are almost certainly getting the Rolls-Royce treatment when it comes to any integrity on any platform, especially for U.S. elections,” said Sahar Massachi, the executive director of the think tank Integrity Institute and a former Facebook employee. “And so however bad it is here, think about how much worse it is everywhere else.”

Facebook’s role in potentially distorting elections became evident after 2016, when Russian operatives used the site to spread inflammatory content and divide American voters in the U.S. presidential election. In 2018, Mr. Zuckerberg testified before Congress that election security was his top priority.

banning QAnon conspiracy theory posts and groups in October 2020.

Around the same time, Mr. Zuckerberg and his wife, Priscilla Chan, donated $400 million to local governments to fund poll workers, pay for rental fees for polling places, provide personal protective equipment and cover other administrative costs.

The week before the November 2020 election, Meta also froze all political advertising to limit the spread of falsehoods.

But while there were successes — the company kept foreign election interference off the platform — it struggled with how to handle Mr. Trump, who used his Facebook account to amplify false claims of voter fraud. After the Jan. 6 riot, Facebook barred Mr. Trump from posting. He is eligible for reinstatement in January.

Frances Haugen, a Facebook employee turned whistle-blower, filed complaints with the Securities and Exchange Commission accusing the company of removing election safety features too soon after the 2020 election. Facebook made growth and engagement its priorities over security, she said.

fully realized digital world that exists beyond the one in which we live. It was coined by Neal Stephenson in his 1992 novel “Snow Crash,” and the concept was further explored by Ernest Cline in his novel “Ready Player One.”

Mr. Zuckerberg no longer meets weekly with those focused on election security, said the four employees, though he receives their reports. Instead, they meet with Nick Clegg, Meta’s president of global affairs.

Several civil right groups said they had noticed Meta’s shift in priorities. Mr. Zuckerberg isn’t involved in discussions with them as he once was, nor are other top Meta executives, they said.

“I’m concerned,” said Derrick Johnson, president of the National Association for the Advancement of Colored People, who talked with Mr. Zuckerberg and Sheryl Sandberg, Meta’s chief operating officer, ahead of the 2020 election. “It appears to be out of sight, out of mind.” (Ms. Sandberg has announced that she will leave Meta this fall.)

wrote a letter to Mr. Zuckerberg and the chief executives of YouTube, Twitter, Snap and other platforms. They called for them to take down posts about the lie that Mr. Trump won the 2020 election and to slow the spread of election misinformation before the midterms.

Yosef Getachew, a director at the nonprofit public advocacy organization Common Cause, whose group studied 2020 election misinformation on social media, said the companies had not responded.

“The Big Lie is front and center in the midterms with so many candidates using it to pre-emptively declare that the 2022 election will be stolen,” he said, pointing to recent tweets from politicians in Michigan and Arizona who falsely said dead people cast votes for Democrats. “Now is not the time to stop enforcing against the Big Lie.”

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Crypto Firms Quake as Prices Fall

SAN FRANCISCO — No one wanted to miss out on the cryptocurrency mania.

Over the last two years, as the prices of Bitcoin and other virtual currencies surged, crypto start-ups proliferated. Companies that market digital coins to investors flooded the airwaves with TV commercials, newfangled lending operations offered sky-high interest rates on crypto deposits and exchanges like Coinbase that allow investors to trade digital assets went on hiring sprees.

A global industry worth hundreds of billions of dollars rose up practically overnight. Now it is crashing down.

After weeks of plummeting cryptocurrency prices, Coinbase said on Tuesday that it was cutting 18 percent of its employees, after layoffs at other crypto companies like Gemini, BlockFi and Crypto.com. High-profile start-ups like Terraform Labs have imploded, wiping away years of investments. On Sunday, an experimental crypto bank, Celsius, abruptly halted withdrawals.

dropped by about 65 percent since autumn, and analysts predict the sell-off will continue. Stock prices of crypto companies have cratered, retail traders are fleeing and industry executives are predicting a prolonged slump that could put more companies in jeopardy.

stocks crashing, interest rates soaring and inflation high, cryptocurrency prices are also collapsing, showing they have become tied to the overall market. And as people pull back from crypto investments, the outflow is exposing the unstable foundations of many of the industry’s most popular companies.

OpenSea, the largest marketplace for the unique digital images known as nonfungible tokens, reached a staggering $13 billion valuation. And Wall Street banks such as JPMorgan Chase, which previously shunned crypto assets, and Fortune 500 companies like PayPal rolled out crypto offerings.

confidence evaporated in the early 2000s, many of the dot-coms went bust, leaving just the biggest — such as eBay, Amazon and Yahoo — standing.

This time, investors predict there will be more survivors. “You certainly have some overhyped companies that don’t have the fundamentals,” said Mike Jones, an investor at the venture firm Science Inc. “But you also have some really strong companies that are trading way below where they should.”

There have been warning signs that some crypto companies were not sustainable. Skeptics have pointed out that many of the most popular firms offered products underpinned by risky financial engineering.

Terraform Labs, for example, offered TerraUSD, a so-called stablecoin with a fixed value linked to the U.S. dollar. The coin was hyped by its founder, Do Kwon, who raised more than $200 million from major investment firms such as Lightspeed Venture Partners and Galaxy Digital, even as critics warned that the project was unstable.

The coin’s price was algorithmically linked to a sister cryptocurrency, Luna. When the price of Luna plummeted in May, TerraUSD fell in tandem — a “death spiral” that destabilized the broader market and plunged some investors into financial ruin.

drew scrutiny from several state regulators. In the end, a drop in crypto prices appeared to put the company under more pressure than it could withstand.

With the price of Bitcoin tumbling, Celsius announced on Sunday that it was freezing withdrawals “due to extreme market conditions.” The company did not respond to a request for comment.

The market instability has also triggered a crisis at Coinbase, the largest U.S. crypto exchange. Between the end of 2021 and late March, Coinbase lost 2.2 million active customers, or 19 percent of its total, as crypto prices dropped. The company’s net revenue in the first three months of the year shrank 27 percent from a year earlier, to $1.2 billion. Its stock price has plunged 84 percent since it went public last year.

This month, Coinbase said it would rescind job offers and extend a hiring freeze to battle the economic downturn. On Tuesday, it said it would cut about 1,100 workers.

Brian Armstrong, Coinbase’s chief executive, informed employees of the layoffs in a note on Tuesday morning, saying the company “grew too quickly” as crypto products became popular.

“It is now clear to me that we over-hired,” he wrote. A Coinbase spokesman declined to comment.

“It had been growth at all costs over the last several years,” said Ryan Coyne, who covers crypto companies and financial technology at the Mizuho Group. “It’s now turned to profitable growth.”

memo to staff, the Winklevoss twins said the industry had entered a “crypto winter.”

commercial starring the actor Matt Damon, who declared that “fortune favors the brave” as he encouraged investors to put their money in the crypto market. Last week, Crypto.com’s chief executive announced that he was laying off 5 percent of the staff, or 260 people. On Monday, BlockFi, a crypto lending operation, said it was reducing its staff by roughly 20 percent.

Gemini and BlockFi declined to comment. A Crypto.com spokesman said the company remains focused on “investing resources into product and engineering capabilities to develop world-class products.”

Cryptocurrencies have long been volatile and prone to boom-and-bust cycles. In 2013, a Chinese ban on Bitcoin sent its price tumbling. In 2017, a proliferation of companies creating and selling their own tokens led to a run-up in crypto prices, which crashed after regulators cracked down on so-called initial coin offerings.

These bubbles are built into the ecosystem, crypto enthusiasts said. They attract talented people to the industry, who go on to build valuable projects. Many of the most vocal cheerleaders encourage investors to “buy the dip,” or invest more when prices are low.

“We have been in these downward spirals before and recovered,” Mr. Jones, the Science Inc. investor, said. “We all believe in the fundamentals.”

Some of the companies have also remained defiant. During Game 5 of the N.B.A. finals on Monday night, Coinbase aired a commercial that alluded to past boom-and-bust cycles.

“Crypto is dead,” it declared. “Long live crypto.”

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What Happened on Day 105 of the War in Ukraine

Even as Russia hammers eastern Ukraine with heavy artillery, it is cementing its grip on the south, claiming to have restored roads, rails and a critical freshwater canal that could help it claim permanent dominion over the region.

The extension of Russian infrastructure into the occupied south could allow Moscow to fortify a “land bridge” between Russia and Crimea and build on efforts to claim control through the introduction of Russian currency and the appointment of proxy officials.

Russia’s defense minister, Sergei K. Shoigu, said on Tuesday that the military, working with Russian Railways, had repaired about 750 miles of track in southeastern Ukraine and set the conditions for traffic to flow from Russia through Ukraine’s eastern Donbas region to occupied territory in Kherson and Crimea.

Mr. Shoigu also said that water was once again flowing to Crimea through the North Crimean Canal — an important source of freshwater that Ukraine cut off in 2014 after the Kremlin annexed the peninsula. Mr. Shoigu claimed that car traffic was now open between “continental” Russia and Crimea.

Mr. Shoigu’s claims of restored roads and rails could not be immediately verified.

Satellite imagery reviewed by The New York Times showed that water was flowing through the parts of the canal in Crimea that were dry until March. Russian engineers blew open a blockage in the canal in late February, days after Russian forces invaded Ukraine. Ukrainian officials did not immediately comment on Wednesday.

The North Crimean Canal, a 250-mile-long engineering marvel built under the Soviet Union, had channeled water from Ukraine’s Dnipro River to the arid Crimean Peninsula until President Vladimir V. Putin seized it in 2014.

Credit…Brendan Hoffman for The New York Times

After Crimea’s annexation, Ukraine dropped bags of sand and clay into the canal to prevent the Russian occupiers from benefiting from the valuable freshwater.

Instead of flowing to Crimea, the canal was used to irrigate the melon fields and peach orchards in Ukraine’s Kherson region to the north.

Ukrainian officials said that cutting off the water was one of the few levers at their disposal to inflict pain on Russia without using military force.

For the Kremlin, the blockage represented a vexing and expensive infrastructure challenge, with Crimea’s residents suffering chronic water shortages and occasional shut-offs at the tap.

When Mr. Putin massed troops on Ukraine’s border last year, some analysts speculated that the canal was one of the prizes the Kremlin wanted.

Even as Russia sought to entrench its control in the south this week, a clandestine battle has emerged inside the occupied regions, involving Kremlin loyalists, occupying Russian forces, Ukrainian partisans and the Ukrainian military.

On Tuesday, Ukrainian media posted video of what they said was an explosion at a cafe in the occupied city of Kherson that had served as a gathering place for people collaborating with Russian forces. Russian state media described it as an act of “terror.”

It was the latest in a series of attacks targeting Russian supporters and proxies. It came amid reports — most impossible to independently verify — of Ukrainian guerrillas blowing up bridges, targeting rail lines used by Russian forces and killing Russian soldiers on patrol.

Credit…Tyler Hicks/The New York Times

Oleksiy Arestovych, an adviser to the Ukrainian president, said that there was a focused guerrilla movement operating in the south. “Partisans are fighting very actively,” he said on his YouTube channel.

In the east, where both armies are fighting for control, Ukrainian officials were weighing whether to withdraw their forces in the city of Sievierodonetsk, the last major pocket of Ukrainian resistance in the Luhansk region.

Sievierodonetsk has been blasted by weeks of Russian shelling, and President Volodymyr Zelensky of Ukraine referred to the city and its neighbor, Lysychansk, on Monday as “dead cities,” physically destroyed and nearly empty of civilians.

“Fighting is still raging and no one is going to give up the city, even if our military has to step back to stronger positions,” Serhiy Haidai, the Ukrainian military governor of the Luhansk region, said on Ukrainian television, according to Reuters.

Credit…Finbarr O’Reilly for The New York Times

Moscow’s announcement that it was extending its ties to the occupied south seemed certain to be greeted in Ukraine as further evidence of Russia’s determination to break Ukraine apart and pillage its natural resources.

“Russia is trying to build infrastructure for military supply,” said Mykhailo Samus, deputy director for international affairs at the Center for Army Studies, Conversion and Disarmament, a research group in Kyiv, the Ukrainian capital.

“Maybe they try to steal the agriculture, food products from occupied territories,” he added.

The Russian authorities said that the first train had traveled from the occupied city of Melitopol to Crimea carrying grain — freight that Ukrainian officials say was stolen from Ukrainian farmers forced to hand over their crops for a pittance or nothing at all.

Russia has blockaded Ukraine’s Black Sea ports since the start of the war, trapping more than 20 million tons of grain meant for export and deepening a global food crisis. Dimming the long-term outlook, grain silos in Ukraine are still about half full, the Ukraine Grain Association said on Wednesday, raising the possibility that much of this year’s crop could be left in the fields.

On Wednesday, the Russian and Turkish foreign ministers held talks focused on allowing Ukraine’s grain to reach global markets through the Black Sea.

Credit…Nicole Tung for The New York Times

But the Russian foreign minister, Sergey V. Lavrov, minimized the issue, suggesting that a global food catastrophe caused by a Russian blockade was a Western exaggeration.

“The current situation has nothing to do with the food crisis,” Mr. Lavrov said at a news conference in Ankara, the Turkish capital. “The Russian Federation is not creating any obstacles for the passage of ships and vessels.”

He blamed Ukraine, saying that its naval mines and refusal to use humanitarian corridors offered by Russia in Black Sea shipping lanes were stalling exports.

The Turkish foreign minister, Mevlut Cavusoglu, disagreed, saying that there was a global problem, but that it involved both Russian and Ukrainian products.

“The food crisis in the world is a real crisis,” Mr. Cavusoglu said, noting that Russia and Ukraine together supply about one-third of the world’s grain products.

Mr. Cavusoglu said that a mechanism was needed to get not just agricultural products from Ukraine out through the Black Sea, but also Russian fertilizer, which is vital for global agriculture.

He suggested that the answer lay in a United Nations proposal that the international community provide guarantees for the shipments that addressed security concerns on both sides.

Ukraine was not invited to the talks in Ankara, and its government and Russia’s each blame the other for the lack of exports.

The two countries normally supply about 40 percent of wheat needs in Africa, according to the United Nations.

Ukrainian officials are deeply skeptical of a promise by Mr. Putin, which Mr. Lavrov repeated, that if harbors were demined, Russia would not exploit them to dispatch an invasion fleet. Russian warships have also been patrolling Black Sea shipping lanes.

Oleksii Danilov, the secretary of Ukraine’s National Security and Defense Council, said on Twitter on Wednesday, “Our position on the supply of grain is clear: security first.” He accused Russia of “artificially creating obstacles to seize the market and blackmail Europe over food shortages.”

The United States has cited satellite imagery of cargo ships to accuse Russia of looting Ukrainian wheat stocks that it exported, mostly to Africa, echoing Ukrainian government allegations that Russia has stolen up to 500,000 tons of wheat, worth $100 million, since it invaded Ukraine in February.

Wheat is not the only Ukrainian resource prompting alarm. As Ukraine braces for what promises to be a difficult winter, Mr. Zelensky said that the country would not sell its gas or coal abroad. “All domestic production will be directed to the internal needs of our citizens,” he said.

Reporting was contributed by Valerie Hopkins, Ivan Nechepurenko, Malachy Browne, Neil MacFarquhar, Safak Timur and Anushka Patil.

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One Za’abeel’s Coveted One&Only Private Homes and ‘The Residences’ Are Now Available for Sale, Announces Ithra Dubai

DUBAI, United Arab Emirates–(BUSINESS WIRE)–Ithra Dubai, a leading real estate developer and asset manager, wholly owned by Investment Corporation of Dubai, announced the highly anticipated sale of One Za’abeel’s One&Only Private Homes and The Residences in Dubai’s most iconic address.

One Za’abeel, the multi-award-winning mixed-used development, is destined to become one of the UAE’s most recognizable architectural icons located right in Dubai’s business center. A marvel of engineering with the world’s longest cantilevered building, it is set to be awarded a GUINNESS WORLD RECORD™.

Suspended perpendicularly across the two towers at a height of around 100 meters and weighing 13,000 tonnes, The Link will host several engaging experiences and will include captivating entertainment venues, dining with celebrity chefs, an infinity pool, an observation deck with uninterrupted 360˚views of Dubai, and an immersive glass-floor experience.

One Za’abeel Tower offers 94 One&Only Private Homes for sale, the pinnacle of urban living in the world’s first vertical urban resort managed by the ultra-luxury One&Only brand. Located in some of the world’s most sought-after destinations, One&Only Private Homes offer upscale private residential sanctuaries with One Za’abeel being no exception. Reflecting the architecture, design, and lifestyle elements for which One&Only is celebrated, One&Only Private Homes offer unparalleled access to the luxury hospitality collection’s world-class resorts, in addition to a series of exclusive benefits.

One Za’abeel’s The Residences houses 264 apartments with a strategic location and lavish facilities. The residences for sale include 1, 2, 3, and 4-bedroom simplexes and duplexes and a 5-bedroom penthouse.

Available for lease in this mixed-use masterpiece is deluxe office space covering an area of 26,000 square and three floors of retail space, F&B, and leisure experiences at the Podium, covering an area of 12,000 square meters.

Strategically located in the heart of the city, at the intersection of Dubai’s famous Sheikh Zayed Road and its commercial business district, One Za’abeel is the gateway to Dubai International Financial District, close to Dubai World Trade Centre, Burj Khalifa, and Dubai International Airport.

“With its mesmerizing architecture, central location, and exceptional mix of offerings, One Za’abeel is an exceptional place to live, work, and spend leisure time in one of Dubai’s most desirable addresses, a true reflection of Dubai’s ambitious spirit,” said Issam Galadari, Director and CEO of Ithra Dubai.

In line with the UAE’s net-zero target for 2050, the development aims to achieve the highest standards of sustainability as it implements the Gold LEED certification requirements in its design and functionality.

About Ithra Dubai

Ithra Dubai LLC, wholly owned by Investment Corporation of Dubai (ICD), develops and manages a portfolio of pioneering real estate projects in Dubai and in key international markets. Its projects are designed to embrace diversity, shape happy communities, and bring prosperity to many. Ithra Dubai aims to deliver mixed-used developments on an ambitious scale, which incorporates world-class retail, commercial, residential, and leisure concepts.

www.onezaabeel.com

*Source: AETOSWire

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Taser maker halts drone project; most of its ethics panel resigns

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The headquarters for Axon Enterprise Inc, formerly Taser International, is seen in Scottsdale, Aizona, U.S., May 17, 2017. Picture taken May 17, 2017. To match Special Report USA-TASER/EXPERTS REUTERS/Ricardo Arduengo

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June 6 (Reuters) – Taser-maker Axon Enterprise Inc (AXON.O) said it was halting a project to equip drones with stun guns to combat mass shootings, a reversal that did not stop most of its ethics advisory board members from announcing their resignation on Monday in protest over the original plans.

The May 24 school shooting in Uvalde, Texas, which killed 19 children and two teachers, prompted Axon to announce last week it was working on a drone that first responders could operate remotely to fire a Taser at a target about 40 feet (12 m) away.

Nine of 12 members of the company’s AI Ethics Board quit over concerns the drones would harm over-policed communities and that Axon publicized its ambitions without consulting the group. The resignations and Axon’s scuttled plans were first reported by Reuters.

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“In light of feedback, we are pausing work on this project and refocusing to further engage with key constituencies to fully explore the best path forward,” Chief Executive Rick Smith said in a statement.

The action by ethics board members marked a rare public rebuke for one of the watchdog groups some companies have set up to gather feedback on emerging technologies, such as drones and artificial intelligence (AI) software.

Smith said it was unfortunate that members withdrew before Axon could address their technical questions, but the company “will continue to seek diverse perspectives to challenge our thinking.”

Axon, which also sells body-worn cameras and policing software, has said its clients include about 17,000 out of the roughly 18,000 law enforcement agencies in the United States.

It explored the idea of a Taser-equipped drone for police since at least 2016, and Smith depicted how one could stop an active shooter in a graphic novel he wrote. The novel shows a daycare center with what looks like an enlarged smoke alarm, which first recognizes the sound of gunfire and then ejects a drone, identifying and tasing the shooter in two seconds.

Axon first approached its ethics board more than a year ago about Taser-equipped drones, and the panel last month voted eight to four against running a limited police pilot of the technology.

The company announced the drone idea anyway, as it said it wanted to get past “fruitless debates” on guns after the Uvalde shooting, sending shares up nearly 6%. They were down 0.5% on Monday.

Ethics board members worried the drones could exacerbate racial injustice, undermine privacy through surveillance and become more lethal if other weapons were added, member Wael Abd-Almageed said in an interview.

“What we have right now is just dangerous and irresponsible,” said Abd-Almageed, an engineering research associate professor at University of Southern California.

The board likewise had not evaluated use of the drones by first responders outside police, it said. And members questioned how a drone could navigate closed doors to stop a shooting.

The drone is “distracting society from real solutions to a tragic problem,” resigning board members said in a Monday statement.

CEO Smith has said drones could be stationed in hallways and move into rooms through special vents. A drone system would cost a school about $1,000 annually, he said.

Formed in 2018, the ethics panel has guided Axon productively on sensitive technologies such as facial recognition in the past.

Giles Herdale, one of the remaining ethics board members, told Reuters he chose not to resign because he could have more influence “if I am in the tent than outside it.”

For others, the company’s drone announcement prior to a formal report by the board broke with practice, said member Ryan Calo, a University of Washington law professor.

“I’m not going to stay on an advisory board for a company that departs so far from expectation and protocol or, frankly, who believes ubiquitous surveillance coupled with remote non-lethal weapons is a viable response to school shootings,” he said.

Barry Friedman, the board chairman, resigned as well.

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Reporting by Jeffrey Dastin in Palo Alto, Calif., and Paresh Dave in Oakland, Calif.; Editing by Clarence Fernandez, Robert Birsel and Tomasz Janowski

Our Standards: The Thomson Reuters Trust Principles.

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Apple Sees Virtual-Reality Headset as Its Next Big Thing

Apple’s development of virtual-reality content and software tools is central to creating experiences that give its future headset purpose. Its last major new product, the Apple Watch, was launched with about 3,000 apps but struggled to take off because tech reviewers said few of those apps were useful. Similar shortcomings have dogged Meta’s Quest virtual-reality headset, which surpassed 10 million sales last year, because many view it as a gaming device.

From its original Macintosh to its iPad, Apple has pursued products that attract a broad swath of potential customers and have an array of uses. It sold an estimated 240 million iPhones last year, accounting for about half of its $366 billion in total sales. To make the headset worthwhile, analysts said, it will need to have utilities that transcend the niche world of video games.

Tim Cook, Apple’s chief executive, has been talking about the potential of augmented reality for years. In 2016, he told investors that the company was investing heavily in it and considered it a “great commercial opportunity.” Around that time, many employees on Apple’s campus were reading “Ready Player One,” a futuristic novel about virtual reality, and talking about the possibilities of creating Apple’s own mixed-reality world.

Apple hired an engineer from Dolby Technologies, Mike Rockwell, and tasked him with leading the effort. His early efforts to create an augmented-reality product were hobbled by weak computing power, two people familiar with the project said. Continuing challenges with its battery power have forced Apple to postpone its release until next year, those people said.

The augmented-reality initiative has been divisive inside Apple. At least two members of its industrial design team said they had left the company, in part, because they had some concerns about developing a product that might change the way people interact with one another. Such sensitivities have increased inside the company amid rising public concern about children’s screen time.

With Mr. Rockwell at the helm, the product would be one of the first to come out of Apple led by its engineering team rather than its co-founder Steve Jobs, who died in 2011, and its former design chief, Jony Ive, who left the company in 2019. The Apple Watch project was led by Mr. Ive and his designers, who defined how it looked, operated and was marketed.

Mr. Favreau’s programming shows how Apple is trying to differentiate its product from Meta’s. It also illustrates how the company is tapping into the relationships it has cultivated in Hollywood since starting Apple TV+ in 2019.

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How Jack Welch’s Reign at G.E. Gave Us Elon Musk’s Twitter Feed

When Jack Welch died on March 1, 2020, tributes poured in for the longtime chief executive of General Electric, whom many revered as the greatest chief executive of all time.

David Zaslav, the C.E.O. of Warner Bros. Discovery and a Welch disciple, remembered him as an almost godlike figure. “Jack set the path. He saw the whole world. He was above the whole world,” Mr. Zaslav said. “What he created at G.E. became the way companies now operate.”

Mr. Zaslav’s words were meant as unequivocal praise. During Mr. Welch’s two decades in power — from 1981 to 2001 — he turned G.E. into the most valuable company in the world, groomed a flock of protégés who went on to run major companies of their own, and set the standard by which other C.E.O.s were measured.

Yet a closer examination of the Welch legacy reveals that he was not simply the “Manager of the Century,” as Fortune magazine crowned him upon his retirement.

broken up for good.

the fateful decision to redesign the 737 — a plane introduced in the 1960s — once more, rather than lose out on a crucial order with American Airlines. That decision set in motion the flawed development of the 737 Max, which crashed twice in five months, killing 346 people. And while a number of factors contributed to those tragedies, they were ultimately the product of a corporate culture that cut corners in pursuit of short-term financial gains.

Even today Boeing is run by a Welch disciple. Dave Calhoun, the current C.E.O., was a dark horse candidate to succeed Mr. Welch in 2001, and he was on the Boeing board during the rollout of the Max and the botched response to the crashes.

When Mr. Calhoun took over the company in 2020, he set up his office not in Seattle (Boeing’s spiritual home) or Chicago (its official headquarters), but outside St. Louis at the Boeing Leadership Center, an internal training center explicitly built in the image of Crotonville. He said he hoped to channel Mr. Welch, whom he called his “forever mentor.”

The “Manager of the Century” was unbowed in retirement, barreling through the twilight of his life with the same bombast that defined his tenure as C.E.O.

He refashioned himself as a management guru and created a $50,000 online M.B.A. in an effort to instill his tough-nosed tactics in a new generation of business leaders. (The school boasts that “more than two out of three students receive a raise or promotion while enrolled.”) He cheered on the political rise of Mr. Trump, then advised him when he won the White House.

In his waning days, Mr. Welch emerged as a trafficker of conspiracy theories. He called climate change “mass neurosis” and “the attack on capitalism that socialism couldn’t bring.” He called for President Trump to appoint Rudy Giuliani attorney general and investigate his political enemies.

The most telling example of Mr. Welch’s foray into political commentary, and the beliefs it revealed, came in 2012. That’s when he took to Twitter and accused the Obama administration of fabricating the monthly jobs report numbers for political gain. The accusation was rich with irony. After decades during which G.E. massaged its own earnings reports, Mr. Welch was effectively accusing the White House of doing the same thing.

While Mr. Welch’s claim was baseless, conservative pundits picked up on the conspiracy theory and amplified it on cable news and Twitter. Even Mr. Trump, then merely a reality television star, joined the chorus, calling Mr. Welch’s bogus accusation “100 percent correct” and accusing the Obama administration of “monkeying around” with the numbers. It was one of the first lies to go viral on social media, and it had come from one of the most revered figures in the history of business.

When Mr. Welch died, few of his eulogists paused to consider the entirety of his legacy. They didn’t dwell on the downsizing, the manipulated earnings, the Twitter antics.

And there was no consideration of the ways in which the economy had been shaped by Mr. Welch over the previous 40 years, creating a world where manufacturing jobs have evaporated as C.E.O. pay soars, where buybacks and dividends are plentiful as corporate tax rates plunge.

By glossing over this reality, his allies helped perpetuate the myth of his sainthood, adding their own spin on one of the most enduring bits of disinformation of all: the notion that Jack Welch was the greatest C.E.O. of all time.

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In London, a Long-Awaited High-Speed Train Is Ready to Roll

LONDON — When Andy Byford ran New York City’s dilapidated subway system, fed-up New Yorkers hailed his crusade to make the trains run with fewer delays and lamented his premature exit after clashes with the governor at the time, Andrew M. Cuomo. He was a familiar, unfailingly cheerful presence on its often-restive platforms. Straphangers even took to calling him “Train Daddy.”

Nobody calls Mr. Byford Train Daddy in London, where he resurfaced in May 2020 as the commissioner of the city’s transit authority, Transport for London. But on May 24, when he opens the Elizabeth line — the long-delayed, $22 billion-plus high-speed railway that uncoils from west and east underneath central London — he might find himself again worthy of a cheeky nickname.

“That was fun in New York,” said Mr. Byford, 56, a gregarious public transport evangelist who grew up in Plymouth, England, began his career as a tube-station manager in London, and has also run transit systems in Toronto and Sydney, Australia. “But I’m really enjoying almost complete anonymity in London.”

Second Avenue subway or the extension of the No. 7 line, which are tiny projects by comparison.”

Mr. Cuomo resigned last year, his successor, Gov. Kathy Hochul, put a proposed $2.1 billion AirTrain project to LaGuardia airport on ice. That leaves the newly renovated airport without a rail link to Manhattan, to the enduring frustration of many New Yorkers.

Heathrow Airport has had a subway link for decades. When the Elizabeth line’s next phase is opened in the fall, passengers will be able to travel from Heathrow to the banks at Canary Wharf in East London in 40 minutes; that is a prime selling point for a city desperate to hold on to its status as financial mecca after Brexit. All told, the line has 10 entirely new stations, 42 miles of tunnels and crosses under the Thames three times.

“We’re jealous, it’s fair to say,” said Danny Pearlstein, the policy director for Riders Alliance, a transportation advocacy group in New York. “Imagining a new, full-length underground line here is not something anyone is doing. The Second Avenue subway, which people have been talking about for 100 years, has three stations.”

To be fair, Transport for London is not without its problems. It has shelved plans to build a north-south counterpart to the Elizabeth line, not to mention an extension to the Bakerloo tube line, because of a lack of funding. Still reeling from a near-total loss of riders during pandemic lockdowns, the system faces many of the same financial woes as New York’s subway.

Though ridership has recovered from a nadir of 5 percent, it is still at only 70 percent of prepandemic levels. Transport for London is also heavily dependent on ticket fares to cover its costs, more so than the New York subway, which gets state subsidies, as well as funds from bridge and tunnel tolls.

“My other obsession is sorting out the finances,” Mr. Byford said. “One way is to wean us away from dependence on fares.”

He is somewhat vague about how to do that, and it is clear that Transport for London will depend on additional government handouts to get back on sound financial footing. That is why the opening of the Elizabeth line is so important to London: It makes a powerful case for public transportation at a time when people are questioning how many workers will ever return to their offices.

Mr. Byford lays out the case with the practiced cadence of a stump speech. The new line will increase the capacity of the system by 10 percent. Its spacious coaches are well suited to a world in which people are used to social distancing. It will revitalize economically blighted towns east of the city, while making central London accessible to people who live in far-flung towns to the east and west.

While Mr. Byford does not expect ridership ever to return completely, he thinks 90 percent is attainable. If office buildings remain underpopulated, London could develop like Paris, with more residential neighborhoods downtown. (The Elizabeth line bears a distinct resemblance to the high-speed RER system in Paris.) The line, he says, is an insurance policy against the “siren voices of doom” about Brexit.

At times, Mr. Byford slips perilously close to a real estate agent’s patter. “These super-high-tech stations simply ooze quality,” he said. But emerging from Liverpool Street, with its spectacular, rippling, pinstriped ceiling, it is hard to argue with his basic assertion: “This is a game changer.”

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Cian Announces Changes to Its Board of Directors and Committees

LARNACA, Cyprus–(BUSINESS WIRE)–Cian PLC (NYSE: CIAN, MOEX: CIAN) (“Cian” or the “Company”), a leading online real estate classifieds platform in Russia, today announced that Mr. Gilles Blanchard has tendered his resignation as a member of the board of directors of the Company (the “Board”), effective as of 00:00 Eastern time on April 12, 2022 (the “Effective Time”). Mr. Blanchard served as a member of each of the Audit Committee of the Board (the “Audit Committee”) and the Compensation, Governance and Nominating Committee of the Board (the “Compensation, Governance and Nominating Committee”).

On April 14, 2022, upon recommendation of the Compensation, Governance and Nominating Committee, the Board appointed Mikhail Zhukov as a director of the Company. Mr. Zhukov has served as chief executive officer of HeadHunter Group PLC (an associate of Elbrus Capital, one of the Company’s significant shareholders) since February 2008 and as a member of its board of directors since May 2019. Prior to joining HeadHunter Group PLC, Mr. Zhukov worked for a variety of different Russian IT companies. Mr. Zhukov launched the insource IT company (IT-SK) at Sibur in 2007 and launched the Network Integration Division at IBS (a major Russian systems integrator) in 1994. He holds a Masters in Engineering from Moscow Aviation Institute (National Research University) and a diploma in Economics from Plekhanov Russian Academy of Economics. Mr. Zhukov also holds a certificate for the Program for Executive Development from IMD in Lausanne, Switzerland.

On April 19, 2022, upon recommendation of the Compensation, Governance and Nominating Committee, the Board appointed Dmitriy Antipov to the Audit Committee, with effect immediately following the Effective Time. The Board has also determined that, based on his education and experience, Mr. Antipov is financially literate in accordance with the requirements of the NYSE. The Board intends to rely upon the phase-in exemptions from the independence requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act) in respect of Mr. Antipov’s appointment to the Audit Committee. Following Mr. Antipov’s appointment, the Audit Committee consists of Douglas Gardner, Simon Baker and Dmitriy Antipov, with Mr. Gardner serving as Chairperson.

On April 19, 2022, upon recommendation of the Compensation, Governance and Nominating Committee, the Board appointed Mikhail Zhukov to the Compensation, Governance and Nominating Committee, with effect immediately following the Effective Time of his appointment as the director. Following Mr. Zhukovs’s appointment, the Compensation, Governance and Nominating consists of Mikhail Zhukov, Dmitriy Antipov and Maksim Melnikov, with Mr. Antipov serving as Chairperson.

The Company has previously disclosed in its registration statement on Form F-1, declared effective by the SEC on November 4, 2021, that it follows the corporate governance practices of its home country, Cyprus, in lieu of certain of the corporate governance requirements of the NYSE. In addition, as discussed above, the Board intends to rely upon the phase-in exemptions from the independence requirements of the Exchange Act in respect of its Audit Committee.

About Cian

Cian is a leading online real estate classifieds platform in the large, underpenetrated and growing Russian real estate classifieds market, with a strong presence across Russia and leading positions in the country’s key metropolitan areas. The Company ranks among the top ten most popular online real estate classifieds globally in terms of traffic (based on SimilarWeb traffic data for other online real estate classifieds and Google Analytics data for Cian for September 2021). Cian’s networked real estate platform connects millions of real estate buyers and renters to millions of high-quality real estate listings of all types — residential and commercial, primary and secondary, urban and suburban. In the third quarter of 2021, the Company had over 1.8 million listings available through its platform and an average UMV of over 18.5 million. Through its technology-driven platform and deep insights into the Russian real estate market the Company provides an end-to-end experience for its customers and users and helps them address multiple pain points on their journey to a new home or place to work.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our financial outlook for 2021 and long-term growth strategy, as well as statements that include the words “target,” “believe,” “expect,” “aim,” “intend, intend,” may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: our ability to maintain our leading market positions, particularly in Moscow, St. Petersburg and certain other regions, and our ability to achieve and maintain leading market position in certain other regions; our ability to compete effectively with existing and new industry players in the Russian real estate classifieds market; our heavy dependence on our brands and reputation; any potential failure to adapt to any substantial shift in real estate transactions from, or demand for services in, certain Russian geographic markets; any downturns in the Russian real estate market and general economic conditions in Russia; any effect on our operations due to cancellation of, or any changes to, the Russian mortgage subsidy program or other government support programs; further widespread impacts of the COVID-19 pandemic, or other public health crises, natural disasters or other catastrophic events which may limit our ability to conduct business as normal; our ability to establish and maintain important relationships with our customers and certain other parties; any failure to establish and maintain proper and effective internal control over financial reporting; any failure to remediate existing deficiencies we have identified in our internal controls over financial reporting, including our information technology general controls; any new or existing government regulation in the area of data privacy, data protection or other areas and the other important factors discussed under the caption “Risk Factors” (in particular, “Risks Relating to the Russian Federation” thereunder) in Cian’s prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 4, 2021, and our other filings with the SEC as such factors may be updated from time to time.

Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

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