The Trump administration plans to eliminate the IRS' Direct File program, an electronic system for filing tax returns directly to the agency for free, AP reported Wednesday, citing two people familiar with the decision. From the report: The program developed during Joe Biden's presidency was credited by users with making tax filing easy, fast and economical. But Republican lawmakers and commercial tax preparation companies complained it was a waste of taxpayer money because free filing programs already exist, although they are hard to use.

A Canadian math prodigy is accused of stealing over $65 million through complex exploits on decentralized finance platforms and is currently a fugitive from U.S. authorities. Despite facing criminal charges for fraud and money laundering, he has evaded capture by moving internationally, embracing the controversial "Code is Law" philosophy, and maintaining that his actions were legal under the platforms' open-source rules. The Globe and Mail reports: Andean Medjedovic was 18 years old when he made a decision that would irrevocably alter the course of his life. In the fall of 2021, shortly after completing a master's degree at the University of Waterloo, the math prodigy and cryptocurrency trader from Hamilton had conducted a complex series of transactions designed to exploit a vulnerability in the code of a decentralized finance platform. The maneuver had allegedly allowed him to siphon approximately $16.5-million in digital tokens out of two liquidity pools operated by the platform, Indexed Finance, according to a U.S. court document.

Indexed Finance's leaders traced the attack back to Mr. Medjedovic, and made him an offer: Return 90 per cent of the funds, keep the rest as a so-called "bug bounty" -- a reward for having identified an error in the code -- and all would be forgiven. Mr. Medjedovic would then be free to launch his career as a white hat, or ethical, hacker. Mr. Medjedovic didn't take the deal. His social media posts hinted, without overtly stating, that he believed that because he had operated within the confines of the code, he was entitled to the funds -- a controversial philosophy in the world of decentralized finance known as "Code is Law." But instead of testing that argument in court, Mr. Medjedovic went into hiding. By the time authorities arrived on a quiet residential street in Hamilton to search his parents' townhouse less than two months later, Mr. Medjedovic had moved out, taking his electronic devices with him.

Then, roughly two years later, he struck again, netting an even larger sum -- approximately $48.4-million -- by conducting a similar exploit on another decentralized finance platform, U.S. authorities allege. Mr. Medjedovic, now 22, faces five criminal charges -- including wire fraud, attempted extortion and money laundering -- according to a U.S. federal court document that was unsealed earlier this year. If convicted, he could be facing decades in prison. First, authorities will have to find him.

"Can you help me take down the Texas lottery?"

That's what a London banker-turned-bookmaker asked "acquaintances" in 2023, reports the Wall Street Journal. The plan was to buy "nearly every possible number in a coming drawing" — purchasing $1 tickets for 25.8 million possible combinations, since "The jackpot was heading to $95 million. If nobody else also picked the winning numbers, the profit would be nearly $60 million." Marantelli flew to the U.S. with a few trusted lieutenants. They set up shop in a defunct dentist's office, a warehouse and two other spots in Texas. The crew worked out a way to get official ticket-printing terminals. Trucks hauled in dozens of them and reams of paper... [Then Texas announced no winner in an earlier lottery, rolling its jackpot into another drawing three days later.] The machines — manned by a disparate bunch of associates and some of their children — screeched away nearly around the clock, spitting out 100 or more tickets every second. Texas politicians later likened the operation to a sweatshop.

Trying to pull off the gambit required deep pockets and a knack for staying under the radar — both hallmarks of the secretive Tasmanian gambler who bankrolled the operation. Born Zeljko Ranogajec, he was nicknamed "the Joker" for his ability to pull off capers at far-flung casinos and racetracks. Adding to his mystique, he changed his name to John Wilson several decades ago. Among some associates, though, he still goes by Zeljko, or Z. Over the years, Ranogajec and his partners have won hundreds of millions of dollars by applying Wall Street-style analytics to betting opportunities around the world. Like card counters at a blackjack table, they use data and math to hunt for situations ripe for flipping the house edge in their favor. Then they throw piles of money at it, betting an estimated $10 billion annually.

The Texas lottery play, one of their most ambitious operations ever, paid off spectacularly with a $57.8 million jackpot win. That, in turn, spilled their activities into public view and sparked a Texas-size uproar about whether other lotto players — and indeed the entire state — had been hoodwinked. Early this month, the state's lieutenant governor, Dan Patrick, called the crew's win "the biggest theft from the people of Texas in the history of Texas." In response to written questions addressed to Marantelli and Ranogajec, Glenn Gelband, a New Jersey lawyer who represents the limited partnership that claimed the Texas prize, said "all applicable laws, rules and regulations were followed...."

Lottery officials and state lawmakers have taken steps to prevent a repeat.
The article also looks at a group of Princeton University graduates calling themselves Black Swan Capital that's "won millions in recent years" by targetting state lottery drawings with unusually favorable odds.

"State lottery directors say they are seeing more organized efforts to buy lottery tickets in bulk," according to the article, "but that the groups are largely operating legally and transparently..."

America's Justice Department "has shut down its unit that investigates cryptocurrency fraud," reports USA Today.

A Monday night memo from U.S. Deputy Attorney General Todd Blanche said the shut down was "effective immediately." Blanche directed the closure of the National Cryptocurrency Enforcement Team and ordered prosecutors to pivot to investigating transnational criminal organizations and terrorist groups that use crypto to engage in illicit transactions... In his four-page memo, Blanche said the new order was meant to bring the Justice Department in line with Trump's own Executive Order 14178, which decreed that clarity and certainty regarding enforcement policy "are essential to supporting a vibrant and inclusive digital economy and innovation in digital assets." Blanche, one of several Trump criminal defense lawyers at the top ranks of DOJ, said the president "has also made clear that '[w]e are going to end the regulatory weaponization against digital assets'..."

Consistent with that narrowing of its cryptocurrency enforcement policy, the DOJ Market Integrity and Major Frauds Unit will also cease cryptocurrency enforcement to focus on other administration priorities, including immigration and procurement fraud, Blanche said.
The Washington Post got this assessment from Yesha Yadav, a Vanderbilt University law professor who closely follows cryptocurrency and financial markets. "It's hard to underestimate the importance this task force has had ... in pursuing some really huge crypto hacks and cases."

More from USA Today: Public corruption and transnational crime experts warned that shutting down the unit could divert critical resources from efforts to stop criminals and corrupt regimes from using cryptocurrency for illicit gain, even as Trump claims he wants to crack down on them. "Dangerous US adversaries rely on cryptocurrencies to launder money and evade sanctions," said Nate Sibley, an anti-corruption expert and director of the Kleptocracy Initiative at the conservative Hudson Institute think tank in Washington, D.C., in a post on X. "If this is accurate, hard to see how it squares with — for example-cracking down on cartel finances or maximum pressure sanctions on Iran...."

Trump's so-called "memecoin" surged from less than $10 on the Saturday before his inauguration to as high as $74.59 before eventually giving up some of its gains. The token, branded $TRUMP, has been criticized by ethics experts as a conflict of interest for the president since the company could likely benefit from his pro-crypto policies...

Last month, Trump signed an order to create a federal Strategic Bitcoin Reserve, signaling new federal support for cryptocurrency in general and Bitcoin in particular.
Since the first-ever White House crypto summit in March, America's Securities and Exchange Commission "has dropped more than a dozen cases against crypto firms," notes the Washington Post: Last month, both the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency pledged to stop evaluating banks based on "reputational risk" — a practice that some venture capitalists have claimed unfairly "de-banked" founders of cryptocurrency start-ups.
In other news, executives from cryptocurrency exchange Binance "met with Treasury Department officials last month," reports the Wall Street Journal, asking them to remove a U.S. monitor overseeing their compliance with anti-money-laundering laws, according to people familiar with the talks.

The article adds that Binance is also concurrently "exploring" a deal with the Trump family to list its new dollar-pegged stablecoin which "could catapult it into a huge market and potentially bring in billions in profit for the family. "

People "are likely to continue working full-time even if they receive no-strings-attached universal basic income payments," reports CNN, citing results from a recent experiment in Germany (discussed on Slashdot in 2020): Mein Grundeinkommen (My Basic Income), the Berlin-based non-profit that ran the German study, followed 122 people for three years. From June 2021 to May 2024, this group received an unconditional sum of €1,200 ($1,365) per month. The study focused on people aged between 21 and 40 who lived alone and already earned between 1,100 euros (around $1,250) and 2,600 euros ($2,950) a month. They were free to use the extra money from the study on anything they wanted. Over the course of three years, the only condition was that they had to fill out a questionnaire every six months that asked about different areas of their lives, including their financial situation, work patterns, mental well-being and social engagement.

One concern voiced by critics is that receiving a basic income could make people less inclined to work. But the Grundeinkommen study suggests that may not be the case at all. It found that receiving a basic income was not a reason for people to quit their jobs. On average, study participants worked 40 hours a week and stayed in employment — identical to the study's control group, which received no payment. "We find no evidence that people love doing nothing," Susann Fiedler, a professor at the Vienna University of Economics and Business who was involved with the study, said on the study's website.

Unlike the control group, those receiving a basic income were more likely to change jobs or enroll in further education. They reported greater satisfaction in their working life — and were "significantly" more satisfied with their income...

And can more money buy happiness? According to the study, the recipients of a basic income reported feeling that their lives were "more valuable and meaningful" and felt a clear improvement in their mental health.

Skype is shutting down after two decades on May 5th, notes the Washington Post.

But the bigger problem for retired attorney Karen Griffin is that Microsoft won't refund the money they paid into a Skype account for cheap international phone calls: "They're no longer offering this service that I prepaid for, and now they're not giving me my money back," Griffin said. "There's a lot of people out there who are going to lose money...."

To its credit, Microsoft gave Skype users a couple months' warning about the shutdown coming May 5. People can transfer Skype contacts and chat history to the company's Microsoft Teams chat-and-calling app or to other companies' services. (While Microsoft sells Teams to organizations, there's a free version for personal use.) But Microsoft didn't explain well what will happen to money that people like Griffin have parked in Skype accounts, in some cases for years.... Unless you bought Skype credits very recently, Microsoft said it won't refund money in Skype accounts. The company says it will add an option for Skype account holders to keep using their funds for phone calls online or in Teams.

Griffin doesn't love what Microsoft is doing. She prefers a cash refund or a credit applied to her Microsoft Office subscription, for which she pays about $110 a year. Amit Fulay, vice president of product for Skype and Teams, said it's not possible to shift funds from a Skype account to Office subscriptions. And he nixed refunds because Microsoft will still offer basic call services for former Skype customers. "Refunds make more sense if you took away something," Fulay said. "We're not." Microsoft declined to say how much money Skype users collectively have sitting in accounts that they might never use.

Stacey Higginbotham, a policy specialist with Consumer Reports' technology advocacy team, said Griffin is making a reasonable request for a rich company like Microsoft that's shutting down an internet service. "The best way: Give people their money back. The second-best way, give people a credit to all of your services," Higginbotham said.

Abstract of a paper on NBER: There is much disagreement about the extent to which financial incentives motivate study participants. We elicit preferences for being paid for completing a survey, including a one-in-twenty chance of winning a $100 electronic gift card, a guaranteed electronic gift card with the same expected value, and an option to refuse payment. More than twice as many participants chose the lottery as chose the guaranteed payment. Given that most people are risk averse, this pattern suggests that factors beyond risk preferences -- such as hassle costs -- influenced their decision-making. Almost 20 percent of participants actively refused payment, demonstrating low monetary motivation. We find both systematic and unobserved heterogeneity in the characteristics of who turned down payment. The propensity to refuse payment is more than four times as large among individuals 50 and older compared to younger individuals, suggesting a tradeoff between financially motivating participants and obtaining a representative sample. Overall, our results suggest that modest electronic gift card payments violate key requirements of Vernon Smith's induced value theory.

Germany will get a new "super-high-tech ministry" responsible for research, technology, and aerospace, according to the coalition agreement published by the incoming government this week. From a report: The announcement is one of several nods to science in the 144-page agreement, unveiled on 9 April following weeks of negotiations between the center-right Christian Democrats (CDU) and its sister party, the Christian Social Union in Bavaria (CSU) -- who together won the most seats in February's federal elections -- and the center-left Social Democrats. The agreement is expected to be formally approved by the three parties by early May, paving the way for CDU leader Friedrich Merz to be elected chancellor.

[...] The new agreement lists a number of scientific priorities for the new government, including support for artificial intelligence, quantum technologies, biotechnology, microchip development and production, and fusion energy. "Our goal is that the world's first fusion reactor should be realized in Germany," the text states. It also mentions personalized medicine, oceans research, and sustainability research as "strategic" areas. But the agreement does not include any budget estimates, and observers caution it is unclear where the money for new programs would come from. The agreement does affirm current commitments to increase the budgets of the country's main research organizations by 3% per year through 2030.

Defense Secretary Pete Hegseth has ordered the termination of multiple IT and consulting contracts with firms including Accenture, Deloitte, and Booz Allen Hamilton, describing them as "wasteful spending."

A Department of Defense memo indicates the cuts target the Defense Health Agency's consulting services contract and the Air Force's agreement with Accenture to "re-sell third-party Enterprise Cloud IT Services," services the government can "already fulfill directly with existing procurement resources."

The terminations also include 11 other contracts supporting "non-essential" activities like DEI programs, climate initiatives, and COVID-19 response efforts. The cuts represent $5.1 billion in spending and will yield nearly $4 billion in savings, according to Hegseth. The funds will be redirected toward "critical priorities to Revive the Warrior Ethos, Rebuild the Military, and Reestablish Deterrence," with Hegseth noting the money would better serve "healthcare for our warfighters and their families, instead of $500 an hour business process consultant."

Amazon has to operate like the "world's largest startup" as it works to meet demand for AI and cut bureaucracy in its ranks, Chief Executive Officer Andy Jassy said in his annual letter to shareholders. From a report: "If your customer experiences aren't planning to leverage these intelligent models, their ability to query giant corpuses of data and quickly find your needle in the haystack, their ability to keep getting smarter with more feedback and data, and their future agentic capabilities, you will not be competitive," Jassy wrote in the letter on Thursday. "It's moving faster than almost anything technology has ever seen."

Amazon, like most of the largest technology companies, has bet heavily on artificial intelligence, committing much of its $100 billion in planned capital expenditures this year to AI-related projects.

A court has blocked a British government attempt to keep secret a legal case over its demand to access Apple user data. From a report: The UK Investigatory Powers Tribunal, a special court that handles cases related to government surveillance, said the authorities' efforts were a "fundamental interference with the principle of open justice" in a ruling issued on Monday. The development comes after it emerged in January that the British government had served Apple with a demand to circumvent encryption that the company uses to secure user data stored in its cloud services.

Apple challenged the request, while taking the unprecedented step of removing its advanced data protection feature for its British users. The government had sought to keep details about the demand -- and Apple's challenge of it -- from being publicly disclosed. Apple has regularly clashed with governments over encryption features that can make it difficult for law enforcement to access devices produced by the company. The world's most valuable company last year criticized UK surveillance powers as "unprecedented overreach" by the government.

An anonymous reader quotes a report from Reuters: Visa has offered Apple roughly $100 million to take over the tech giant's credit card partnership from Mastercard, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Visa has made a bold push to secure the Apple Card, offering an upfront payment typically reserved for the largest card programs, WSJ reported. American Express is also trying to unseat Mastercard to win the Apple card. Amex is looking to become the card's issuer as well as the network, the report said, citing the sources. Goldman Sachs ended its partnership with Apple in late 2023 as the Wall Street bank retreated from consumer lending.

Microsoft has pulled back on data center projects around the world, suggesting the company is taking a harder look at its plans to build the server farms powering artificial intelligence and the cloud. From a report: The software company has recently halted talks for, or delayed development of, sites in Indonesia, the UK, Australia, Illinois, North Dakota and Wisconsin, according to people familiar with the situation. Microsoft is widely seen as a leader in commercializing AI services, largely thanks to its close partnership with OpenAI. Investors closely track Microsoft's spending plans to get a sense of long-term customer demand for cloud and AI services.

It's hard to know how much of the company's data center pullback reflects expectations of diminished demand versus temporary construction challenges, such as shortages of power and building materials. Some investors have interpreted signs of retrenchment as an indication that projected purchases of AI services don't justify Microsoft's massive outlays on server farms. Those concerns have weighed on global tech stocks in recent weeks, particularly chipmakers like Nvidia which suck up a significant share of data center budgets.

Representatives Alexandria Ocasio-Cortez and Anna Paulina Luna introduced bipartisan legislation in March to cap credit card interest rates at 10% annually as Americans' debt hits record levels. "Credit cards with high interest rates regularly trap working people in endless cycles of debt," Ocasio-Cortez said in a statement.

Credit card debt has reached $1.2 trillion in Q4 2024, up from $720 billion in the same quarter of 2004, according to Federal Reserve Bank of New York data. Average annual percentage rates nearly doubled to 21% in 2024 from 12% in 2003. The Federal Reserve Bank of Philadelphia reported a record number of cardholders making only minimum payments in Q3 2024, "showing signs of consumer stress."

Further reading: Study Reveals Why Credit Card Interest Rates Remain Stubbornly High.

An anonymous reader quotes a report from TechCrunch: Zelle is shutting down its stand-alone app on Tuesday, according to a company blog post. This news might be alarming if you're one of the over 150 million customers in the U.S. who use Zelle for person-to-person payments. But only about 2% of transactions take place via Zelle's app, which is why the company is discontinuing its stand-alone app.

Most consumers access Zelle via their bank, which then allows them to send money to their phone contacts. Zelle users who relied on the stand-alone app will have to re-enroll in the service through another financial institution. Given the small user base of the Zelle app, it makes sense why the company would decide to get rid of it -- maintaining an app takes time and money, especially one where people's financial information is involved.

An anonymous reader quotes a report from The Guardian: A professional YouTuber in Queensland has been ordered to pay $350,000 plus interest and costs to the former world record score holder for Donkey Kong, after the Brisbane district court found the YouTuber had defamed him "recklessly" with false claims of a link between a lawsuit and another YouTuber's suicide. William "Billy" Mitchell, an American gamer who had held world records in Donkey Kong and Pac-Man going back to 1982, as recognized by the Guinness World Records and the video game database Twin Galaxies, brought the case against Karl Jobst, seeking $400,000 in general damages and $50,000 in aggravated damages.

Jobst, who makes videos about "speed running" (finishing games as fast as possible), as well as gaming records and cheating in games, made a number of allegations against Mitchell in a 2021 YouTube video. He accused Mitchell of cheating, and "pursuing unmeritorious litigation" against others who had also accused him of cheating, the court judgment stated. The court heard Mitchell was accused in 2017 of cheating in his Donkey Kong world records by using emulation software instead of original arcade hardware. Twin Galaxies investigated the allegation, and subsequently removed Mitchell's scores and banned him from participating in its competitions. The Guinness World Records disqualified Mitchell as a holder of all his records -- in both Donkey Kong and Pac-Man -- after the Twin Galaxies decision. The judgment stated that Jobst's 2021 video also linked the December 2020 suicide of another YouTuber, Apollo Legend, to "stress arising from [his] settlement" with Mitchell, and wrongly asserted that Apollo Legend had to pay Mitchell "a large sum of money."

Credit card interest rates, which averaged 23% in 2023, are significantly higher than any other major loan product primarily due to non-diversifiable default risk and banks' market power, according to research published by the Federal Reserve Bank of New York.

The comprehensive study, which analyzed 330 million monthly credit card accounts, found that while high default losses contribute to elevated rates, they explain only part of the picture. Even high-FICO borrowers pay spreads exceeding 7% above the federal funds rate. Researchers determined that credit card banks have substantial pricing power, achieved through exceptionally high operating expenses -- about 4-5% of dollar balances annually -- with marketing costs ten times higher than those at other banks.

"Credit card charge-off rates are highly correlated with default rates on banks' other loans as well as on corporate bonds," the researchers said, noting that default risk cannot be diversified away across lending markets, particularly during economic downturns. The study estimated that exposure to aggregate default risk carries a premium of 5.3% per year, which fully explains the relationship between return on assets and credit scores.

Credit cards are ubiquitous in American finance, with 74% of adults owning at least one card, and the payment method accounting for 70% of retail spending. According to the research, 60% of accounts carry balances month-to-month.

Intel Chief Executive Officer Lip-Bu Tan said the chipmaker will spin off assets that aren't central to its mission and create new products including custom semiconductors to try to better align itself with customers. From a report: Intel needs to replace the engineering talent it has lost, improve its balance sheet and better attune manufacturing processes to meet the needs of potential customers, Tan said. Speaking at his first public appearance as CEO, at the Intel Vision conference Monday in Las Vegas, Tan didn't specify what parts of Intel he believes are no longer central to its future.

"We have a lot of hard work ahead," Tan said, addressing the company's customers in the audience. "There are areas where we've fallen short of your expectations." The veteran semiconductor executive is trying to restore the fortunes of a company that dominated an industry for decades, but now finds itself chasing rivals in most of the areas that define success in the field. A key question confronting its leadership is whether a turnaround is best served by the company remaining whole or splitting up its key product and manufacturing operations. Tan gave no indication that he will seek to divest either part of Intel. Instead, he highlighted the problems he needs to fix to get both units performing more successfully. Intel's chips for data center and AI-related work in particular are not good enough, he said. "We fell behind on innovation," the CEO said. "We have been too slow to adapt and meet your needs."

An anonymous reader quotes a report from Reuters: Google has agreed to pay $100 million in cash to settle a long-running lawsuit claiming it overcharged advertisers by failing to provide promised discounts and charged for clicks on ads outside the geographic areas the advertisers targeted. A preliminary settlement of the 14-year-old class action, which began in March 2011, was filed late Thursday in the San Jose, California, federal court, and requires a judge's approval.

Advertisers who participated in Google's AdWords program, now known as Google Ads, accused the search engine operator of breaching its contract by manipulating its Smart Pricing formula to artificially reduce discounts. The advertisers also said Google, a unit of Mountain View, California-based Alphabet, misled them by failing to limit ad distribution to locations they designated, violating California's unfair competition law. Thursday's settlement covers advertisers who used AdWords between January 1, 2004, and December 13, 2012.

Google denied wrongdoing in agreeing to settle. "This case was about ad product features we changed over a decade ago and we're pleased it's resolved," spokesman Jose Castaneda said in an emailed statement. Lawyers for the plaintiffs may seek fees of up to 33% of the settlement fund, plus $4.2 million for expenses. According to court papers, the case took a long time as the parties produced extensive evidence, including more than 910,000 pages of documents and multiple terabytes of click data from Google, and participated in six mediation sessions before four different mediators.

The U.S. and China "are racing to build a truly useful humanoid worker," the Wall Street Journal wrote Saturday, adding that "Whoever wins could gain a huge edge in countless industries."

"The time has come for robots," Nvidia's chief executive said at a conference in March, adding "This could very well be the largest industry of all." China's government has said it wants the country to be a world leader in humanoid robots by 2027. "Embodied" AI is listed as a priority of a new $138 billion state venture investment fund, encouraging private-sector investors and companies to pile into the business. It looks like the beginning of a familiar tale. Chinese companies make most of the world's EVs, ships and solar panels — in each case, propelled by government subsidies and friendly regulations. "They have more companies developing humanoids and more government support than anyone else. So, right now, they may have an edge," said Jeff Burnstein [president of the Association for Advancing Automation, a trade group in Ann Arbor, Michigan]....

Humanoid robots need three-dimensional data to understand physics, and much of it has to be created from scratch. That is where China has a distinct edge: The country is home to an immense number of factories where humanoid robots can absorb data about the world while performing tasks. "The reason why China is making rapid progress today is because we are combining it with actual applications and iterating and improving rapidly in real scenarios," said Cheng Yuhang, a sales director with Deep Robotics, one of China's robot startups. "This is something the U.S. can't match." UBTech, the startup that is training humanoid robots to sort and carry auto parts, has partnerships with top Chinese automakers including Geely... "A problem can be solved in a month in the lab, but it may only take days in a real environment," said a manager at UBTech...

With China's manufacturing prowess, a locally built robot could eventually cost less than half as much as one built elsewhere, said Ming Hsun Lee, a Bank of America analyst. He said he based his estimates on China's electric-vehicle industry, which has grown rapidly to account for roughly 70% of global EV production. "I think humanoid robots will be another EV industry for China," he said. The UBTech robot system, called Walker S, currently costs hundreds of thousands of dollars including software, according to people close to the company. UBTech plans to deliver 500 to 1,000 of its Walker S robots to clients this year, including the Apple supplier Foxconn. It hopes to increase deliveries to more than 10,000 in 2027.

Few companies outside China have started selling AI-powered humanoid robots. Industry insiders expect the competition to play out over decades, as the robots tackle more-complicated environments, such as private homes.
The article notes "several" U.S. humanoid robot producers, including the startup Figure. And robots from Amazon's Agility Robotics have been tested in Amazon warehouses since 2023. "The U.S. still has advantages in semiconductors, software and some precision components," the article points out.

But "Some lawmakers have urged the White House to ban Chinese humanoids from the U.S. and further restrict Chinese robot makers' access to American technology, citing national-security concerns..."