Meta is making humanoid robots its next massive "AR-sized bet," investing billions into a project led by top roboticists. The focus will be less on hardware and more on software dexterity, aiming to license its robotics platform to manufacturers much like Google licenses Android. The Verge reports: During a recent conversation at Meta's headquarters, CTO Andrew Bosworth said he stood up a robotics "research effort" earlier this year at the direction of CEO Mark Zuckerberg. The team's existence has been reported on before, but Bosworth hadn't discussed its strategy in-depth until our interview. "I don't think the hardware is the hard part," he told me ahead of Meta's recent Connect conference. "I'm not saying the hardware isn't also hard, but it's not the bottleneck. The bottleneck is the software."

To demonstrate, Bosworth picked up my glass of water from a table between us. "If you know robotics, one of the biggest problems that you have is dexterous manipulation," he said. "These robots, they can stand, they can run, they can do a flip, because the ground is a super stable thing." By contrast, a robot trying to pick up the glass of water would likely "immediately crush it or spill all the water." While Meta is currently building its own humanoid, or "Metabot" as it's called internally, Bosworth envisions the company licensing its software platform to other robot manufacturers. "I don't care about us being the hardware manufacturers," he explained.

An anonymous reader quotes a report from CNN: A team of suspected Chinese hackers has infiltrated US software developers and law firms in a sophisticated campaign to collect intelligence that could help Beijing in its ongoing trade fight with Washington, cybersecurity firm Mandiant said Wednesday. The hackers have been rampant in recent weeks, hitting the cloud-computing firms that numerous American companies rely on to store key data, Mandiant, which is owned by Google, said. In a sign of how important China's hacking army is in the race for tech supremacy, the hackers have also stolen US tech firms' proprietary software and used it to find new vulnerabilities to burrow deeper into networks, according to Mandiant.

[...] In some cases, the hackers have lurked undetected in the US corporate networks for over a year, quietly collecting intelligence, Mandiant said. The disclosure comes after the Trump administration escalated America's trade war with China this spring by slapping unprecedented tariffs on Chinese exports to the United States. The tit-for-tat tariffs set off a scramble in both governments to understand each other's positions. Mandiant analysts said the fallout from the breaches -- the task of kicking out the hackers and assessing the damage -- could last many months. They described it as a milestone hack, comparable in severity and sophistication to Russia's use of SolarWinds software to infiltrate US government agencies in 2020.

Amazon Fire TV devices will run the company's Linux-based Vega OS starting in 2025, according to a job listing that Amazon subsequently edited after press inquiries. The software development manager position originally sought someone to oversee "the Vega OS experience" and "the dedicated Prime Video app on Vega OS" launching in 2025. Amazon removed references to Vega after a reporter contacted the company for comment.

The proprietary OS already powers the Echo Hub, Echo Show 5 third generation, and Echo Spot, running on Linux kernel 5.16 according to Amazon's source code notices. Current Fire TV devices won't receive Vega updates. The shift from Android would eliminate Google's influence over Amazon's streaming hardware business and remove smartphone code unnecessary for TV devices.

Microsoft has disabled the Israeli Defense Ministry's access to certain services and subscriptions, after finding evidence that the ministry used the tech company's cloud services to surveil Gaza citizens. WSJ adds: The software company made the move after an internal investigation indicated Israel's Defense Ministry used Microsoft's Azure cloud services for surveillance, according to a person familiar with the matter. The company probe is ongoing. "As employees, we all have a shared interest in privacy protection, given the business value it creates by ensuring our customers can rely on our services with rock solid trust," Microsoft President Brad Smith said in a blog post Thursday on Microsoft's company website.

Smith said Microsoft's investigation was guided by the company's "longstanding protection of privacy as a fundamental right." Microsoft opened the probe after the Guardian, the British news organization, reported in August that Israel used Azure to store data on Gaza civilians and surveil them. The issue has been the source of protests at the company.

An anonymous reader shares a report: OpenAI released a new benchmark on Thursday that tests how its AI models perform compared to human professionals across a wide range of industries and jobs. The test, GDPval, is an early attempt at understanding how close OpenAI's systems are to outperforming humans at economically valuable work -- a key part of the company's founding mission to develop artificial general intelligence or AGI.

OpenAI says its found that its GPT-5 model and Anthropic's Claude Opus 4.1 "are already approaching the quality of work produced by industry experts." That's not to say that OpenAI's models are going to start replacing humans in their jobs immediately. Despite some CEOs' predictions that AI will take the jobs of humans in just a few years, OpenAI admits that GDPval today covers a very limited number of tasks people do in their real jobs. However, it is one of the latest ways the company is measuring AI's progress towards this milestone. GDPval is based on nine industries that contribute the most to America's gross domestic product, including domains such as healthcare, finance, manufacturing, and government. The benchmark tests an AI model's performance in 44 occupations among those industries, ranging from software engineers to nurses to journalists.

An anonymous reader quotes a report from Ars Technica: When the COVID-19 pandemic forced kids to stay home, educators flocked to VMware, and thousands of school districts adopted virtualization. The technology became a solution for distance learning during the pandemic and after, when events such as bad weather and illness can prevent children from physically attending school. However, the VMware being sold to K-12 schools today differs from the VMware that existed before and during the pandemic. Now a Broadcom business, the platform features higher prices and a business strategy that favors big spenders. This has created unique problems for educational IT departments juggling restrictive budgets and multiple technology vendors with children's needs.

Ars Technica recently spoke with an IT director at a public school district in Indiana. The director requested anonymity for themself and the district out of concern about potential blowback. The director confirmed that the district has five schools and about 3,000 students. The district started using VMware's vSAN, a software-defined storage offering, and the vSphere virtualization platform in 2019. The Indiana school system bought the VMware offerings through a package that combined them with VxRail, which is hyperconverged infrastructure (HCI) hardware that Dell jointly engineered with VMware.

However, like many of VMware customers, the Indiana school district was priced out of VMware after Broadcom's acquisition of the company. The IT director said the district received a quote that was "three to six" times higher than expected. This came as the school district is looking to manage changes in education-related taxes and funding over the next few years. As a result, the district's migration from VMware is taking IT resources from other projects, including ones aimed at improving curriculum. For instance, the Indiana district has been trying to bolster its technology curriculum, the IT director said. One way is through a summer employment program for upperclassmen that teaches how to use real-world IT products, like VMware and Cisco Meraki technologies. The district previously relied on VMware-based virtual machines (VMs) for creating "very easily and accessible" test environments for these students. But the school is no longer able to provide that opportunity, creating a learning "barrier," as the IT director put it. The IT director told Ars that dealing with a migration could be "catastrophic in that that's too much work for one person," adding: "It could be a chokehold, essentially, to where they're going to be basically forced into switching platforms -- maybe before they were anticipating -- or paying exorbitant prices that have skyrocketed for absolutely no reason. Nothing on the software side has changed. It's the same software. There's no features being added. Nobody's benefiting from the higher prices on the education side."

The pressure is mounting on business leaders to harness AI to make work faster, cheaper, and more efficient. That may thrill investors, but for employees, it could mean fewer jobs around the world. From a report: At the $320 billion software giant SAP, there will likely be a need for fewer engineers to deliver the same -- or even greater -- output, according to the company's CFO Dominik Asam.

"There's more automation, simply," Asam told Business Insider. "There are certain tasks which are automated and for the same volume of output we can afford to have less people." As a C-suite exec at Europe's most valuable software company, Asam cautioned that this reality will only come true if the corporate world implements the technology properly. After all, a recent MIT study found that 95% of generative AI pilots have not met the mark. "I will be brutal. And I also say this internally. For SAP and any other software company, AI is a great catalyst. It can be either great or catastrophe," Asam warned. "It will be great if you do it well, if you are able to implement it and do it faster than others. If you are left behind, you will have a problem for sure. We work day and night to not fall behind."

Qualcomm CEO Cristiano Amon told attendees at yesterday's Snapdragon Summit opening keynote that he has seen Google's merged Android-ChromeOS platform for PCs. Speaking alongside Google's head of platforms and devices Rick Osterloh, Amon said the software "delivers on the vision of convergence of mobile and PC" and that he "can't wait to have one."

Osterloh confirmed Google is building a common technical foundation for PCs and desktop computing systems that combines Android and ChromeOS. The platform will include Gemini, the full Android AI stack, all Google applications and the Android developer community. "I've seen it, it is incredible," replied Amon excitedly. "It delivers on the vision of convergence of mobile and PC. I can't wait to have one."

An anonymous reader quotes a report from InsideEVs: On Monday morning, I spoke to a Volvo EX90 owner who reported a litany of issues with her 2025 EX90: malfunctioning phone-as-a-key functionality, a useless keyfob, a keycard that rarely worked quickly, constant phone connection issues, infotainment glitches and error messages. I was surprised not because I hadn't heard of these kinds of problems, but because I experienced them myself over a year ago at the EX90 first drive again. At the time, Volvo said software fixes were imminent. Today, we know the issues go deeper. To solve them, Volvo announced on Tuesday that it will replace the central computer of every 2025 EX90 with the new one from the 2026 EX90. It's a tacit admission that the company can't solve the EX90's issues while simultaneously launching its next-generation software-defined vehicles, and that it's easier to replace the original computer than to build bug-free software for it. But for some, the damage to the Volvo brand has already been done. "I say without exaggeration that this car is a dumpster fire inside a train wreck," InsideEVs reader and EX90 owner Sally Greer told InsideEVs.

The report notes that Volvo will replace the computer inside the 2025 EX90 with a Nvidia Drive AGX Orin-based core computer that has contains over 500 TOPS (Trillion Operations Per Second) of power, which Volvo says will help power its autonomous driving ambitions.

Long-time Slashdot reader theodp writes: Over at the Communications of the ACM, Bard College CS Prof Valerie Barr explains why she's Feeling Cranky About AI and CS Education. Having seen CS education go through a number of we-have-to-teach-this moments over the decades — introductory programming languages, the Web, Data Science, etc. — Barr turns her attention to the next hand-wringing "what will we do" CS education moment with AI.

"We're jumping through hoops without stopping first to question the run-away train," Barr writes...

Barr calls for stepping back from "the industry assertion that the ship has sailed, every student needs to use AI early and often, and there is no future application that isn't going to use AI in some way" and instead thoughtfully "articulate what sort of future problem solvers and software developers we want to graduate from our programs, and determine ways in which the incorporation of AI can help us get there."
From the article: In much discussion about CS education:

a.) There's little interest in interrogating the downsides of generative AI, such as the environmental impact, the data theft impact, the treatment and exploitation of data workers.

b.) There's little interest in considering the extent to which, by incorporating generative AI into our teaching, we end up supporting a handful of companies that are burning billions in a vain attempt to each achieve performance that is a scintilla better than everyone else's.

c.) There's little interest in thinking about what's going to happen when the LLM companies decide that they have plateaued, that there's no more money to burn/spend, and a bunch of them fold—but we've perturbed education to such an extent that our students can no longer function without their AI helpers.

"On a recent assignment to test defenses, Dave Brauchler of the cybersecurity company NCC Group tricked a client's AI program-writing assistant into executing programs that forked over the company's databases and code repositories," reports the Washington Post.

"We have never been this foolish with security," Brauchler said... Demonstrations at last month's Black Hat security conference in Las Vegas included other attention-getting means of exploiting artificial intelligence. In one, an imagined attacker sent documents by email with hidden instructions aimed at ChatGPT or competitors. If a user asked for a summary or one was made automatically, the program would execute the instructions, even finding digital passwords and sending them out of the network. A similar attack on Google's Gemini didn't even need an attachment, just an email with hidden directives. The AI summary falsely told the target an account had been compromised and that they should call the attacker's number, mimicking successful phishing scams.

The threats become more concerning with the rise of agentic AI, which empowers browsers and other tools to conduct transactions and make other decisions without human oversight. Already, security company Guardio has tricked the agentic Comet browser addition from Perplexity into buying a watch from a fake online store and to follow instructions from a fake banking email...

Advanced AI programs also are beginning to be used to find previously undiscovered security flaws, the so-called zero-days that hackers highly prize and exploit to gain entry into software that is configured correctly and fully updated with security patches. Seven teams of hackers that developed autonomous "cyber reasoning systems" for a contest held last month by the Pentagon's Defense Advanced Research Projects Agency were able to find a total of 18 zero-days in 54 million lines of open source code. They worked to patch those vulnerabilities, but officials said hackers around the world are developing similar efforts to locate and exploit them. Some longtime security defenders are predicting a once-in-a-lifetime, worldwide mad dash to use the technology to find new flaws and exploit them, leaving back doors in place that they can return to at leisure.

The real nightmare scenario is when these worlds collide, and an attacker's AI finds a way in and then starts communicating with the victim's AI, working in partnership — "having the bad guy AI collaborate with the good guy AI," as SentinelOne's [threat researcher Alex] Delamotte put it. "Next year," said Adam Meyers, senior vice president at CrowdStrike, "AI will be the new insider threat."
In August more than 1,000 people lost data to a modified Nx program (downloaded hundreds of thousands of times) that used pre-installed coding tools from Google/Anthropic/etc. According to the article, the malware "instructed those programs to root out" sensitive data (including passwords or cryptocurrency wallets) and send it back to the attacker. "The more autonomy and access to production environments such tools have, the more havoc they can wreak," the article points out — including this quote from SentinelOne threat researcher Alex Delamotte.

"It's kind of unfair that we're having AI pushed on us in every single product when it introduces new risks."

Writing in Communications of the ACM, former Go tech lead Russ Cox warns we need to keep improving defenses of software supply chains, highlighting "promising approaches that should be more widely used" and "areas where more work is needed." There are important steps we can take today, such as adopting software signatures in some form, making sure to scan for known vulnerabilities regularly, and being ready to update and redeploy software when critical new vulnerabilities are found. More development should be shifted to safer languages that make vulnerabilities and attacks less likely. We also need to find ways to fund open source development to make it less susceptible to takeover by the mere offer of free help. Relatively small investments in OpenSSL and XZ development could have prevented both the Heartbleed vulnerability and the XZ attack.
Some highlights from the 5,000-word article:

• Make Builds Reproducible. "The Reproducible Builds project aims to raise awareness of reproducible builds generally, as well as building tools to help progress toward complete reproducibility for all Linux software. The Go project recently arranged for Go itself to be completely reproducible given only the source code... A build for a given target produces the same distribution bits whether you build on Linux or Windows or Mac, whether the build host is X86 or ARM, and so on. Strong reproducibility makes it possible for others to easily verify that the binaries posted for download match the source code..."

• Prevent Vulnerabilities. "The most secure software dependencies are the ones not used in the first place: Every dependency adds risk... Another good way to prevent vulnerabilities is to use safer programming languages that remove error-prone language features or make them needed less often..."

• Authenticate Software. ("Cryptographic signatures make it impossible to nefariously alter code between signing and verifying. The only problem left is key distribution...") "The Go checksum database is a real-world example of this approach that protects millions of Go developers. The database holds the SHA256 checksum of every version of every public Go module..."

• Fund Open Source. [Cox first cites the XKCD cartoon "Dependencies," calling it "a disturbingly accurate assessment of the situation..."] "The XZ attack is the clearest possible demonstration that the problem is not fixed. It was enabled as much by underfunding of open source as by any technical detail."

The article also emphasized the importance of finding and fixing vulnerabilities quickly, arguing that software attacks must be made more difficult and expensive.

"We use source code downloaded from strangers on the Internet in our most critical applications; almost no one is checking the code.... We all have more work to do."

Near Microsoft's headquarters in Redmond, the Five Stones coffee shop advertised for a barista a few months ago — and started getting resumes from "people who listed Microsoft and other tech companies," writes the Wall Street Journal: The applicants typically had master's degrees and experience in graphic design or marketing roles, Andrews said — sometimes senior ones. They were applying to jobs at Five Stones that would pay Redmond's minimum wage, $16.66 an hour. Five Stones hasn't yet hired such candidates because the coffee shop gives priority to more traditional entry-level baristas, like high-schoolers...

[Microsoft and Amazon] have laid off more than 46,000 employees since 2023, according to Layoffs.fyi, which tracks workforce reductions. That represents 85% of layoffs by Seattle-area tech companies... As Amazon and Microsoft have made cuts — and other local tech firms including Expedia and Redfin have followed suit — the effects have rippled through Seattle's other business sectors. Weakness in payroll and sales tax contributed to a projected $146 million shortfall in revenue over the next two years. Restaurant and retail spending is down in the business and shopping districts surrounding Amazon's and Microsoft's campuses, with total transactions falling by as much as 7% in some popular areas in the past year, according to data from Square. In the first half of 2025, around 450 restaurants closed in Seattle, or about 16% of its total. "At the halfway point of the year, we've already seen as many closures as we'd usually see in a full year," said Anthony Anton, chief executive officer of the Washington Hospitality Association.

Uber driver Juan Prado made six figures in 2021, often shuttling passengers in town for job interviews and doing frequent drop-offs near downtown tech offices. Now, he said, demand is much lower. "There are moments where you can be online, and in certain areas, it shows nothing...." Seattle tech firms are asking for significantly fewer job placements than years ago, said Noelle McDonald, senior vice president at recruiting company Aquent, which counts Amazon and Microsoft as clients. Hiring windows have lengthened and open roles receive around 10 times as many applications.
And of course, "Commercial real-estate vacancies stand at a record high as offices built to accommodate a boom sit empty... "

While some laid-off employees launched their own startups, "the outlook for many tech workers is dour as companies invest in software tools they can use to streamline teams," the article points out. Microsoft CEO Satya Nadella "has said the company is increasingly looking to AI to perform coding and other tasks once done by people," while in June, Amazon "said its workforce would shrink going forward."

The consumer advocacy nonprofit PIRG (Public Interest Research Group) is now petitioning Microsoft to reconsider pulling support for Windows 10 in 2025, since "as many as 400 million perfectly good computers that can't upgrade to Windows 11 will be thrown out." In a petition addressed to Microsoft CEO Satya Nadella, the group warned the October 14 end of free support could cause "the single biggest jump in junked computers ever, and make it impossible for Microsoft to hit their sustainability goals." About 40% of PCs currently in use can't upgrade to Windows 11, even if users want to... Less than a quarter of electronic waste is recycled, so most of those computers will end up in landfills.
Consumer Reports recently also urged Microsoft to not to "strand millions of customers.". And now more groups are also pushing back, according to a post from the blog Windows: Central The Restart Project co-developed the "End of 10" toolkit, which is designed to support Windows 10 users who can't upgrade to Windows 11 after the operating system hits its end-of-support date.
They also note that a Paris-based company called Back Market plans to sell Windows 10 laptops refurbished with Ubuntu Linux or ChromeOS Flex. ("We refuse to watch hundreds of millions of perfectly good computers end up in the trash as e-waste," explains their web site.) Back Market's ad promises an "up-to-date, secure operating system — so instead of paying for a new computer you don't need, you can help us give this one a brand new life."

Right now Windows 10 holds 71.9% of Microsoft's market share, with Windows 11 at 22.95%, according to figures from StatCounter cited by the blog Windows Central. And HP and Dell "recently indicated that half of the global PCs are still running Windows 10," according to another Windows Central post...

"A cyberattack targeting check-in and boarding systems disrupted air traffic and caused delays at several of Europe's major airports on Saturday," reports the Associated Press.

"While the impact on travelers appeared to be limited, experts said the intrusion exposed vulnerabilities in security systems." The disruptions to electronic systems initially reported at Brussels, Berlin's Brandenburg and London's Heathrow airports meant that only manual check-in and boarding was possible. Many other European airports said their operations were unaffected... Airports said the issue centered around a provider of check-in and boarding systems — not airlines or the airports themselves. Collins Aerospace, whose systems help passengers check themselves in, print boarding passes and bag tags and dispatch their luggage from a kiosk, cited a "cyber-related disruption" to its MUSE (Multi-User System Environment) software at "select airports."
Brussels Airport initially reported a "large impact" on flight schedules," according to the article, with a spokesperson telling broadcaster VTM that by mid-morning nine flights had been canceled, with four more redirected to another airport and 15 delayed an hour or more. The airport later told Reuters there were "delays on most of the departing flights."

Reuters notes it's "the latest in a string of hacks targeting governments and companies across the world, hitting sectors from healthcare and defence to retail and autos.: A recent breach at luxury carmaker Jaguar Land Rover brought its production to a halt...

At Heathrow, Berlin and Brussels, 29 flight departures and arrivals had been cancelled as of 1130 GMT, aviation data provider Cirium said. In total, 651 departures were scheduled from Heathrow, 228 from Brussels and 226 from Berlin on Saturday... Brussels Airport said it had asked airlines to cancel half of their scheduled departing flights on Sunday to avoid long queues and late cancellations, signalling that the disruption would continue through the weekend.

A European Commission spokesperson said there were currently no indications of a "widespread or severe attack" and that the origin of the incident was still under investigation.

alternative_right writes: Austria's armed forces have switched from Microsoft's Office programs to the open-source LibreOffice package. The reason for this is not to save on software license fees for around 16,000 workstations. "It was very important for us to show that we are doing this primarily (...) to strengthen our digital sovereignty, to maintain our independence in terms of ICT infrastructure and (...) to ensure that data is only processed in-house," emphasizes Michael Hillebrand from the Austrian Armed Forces' Directorate 6 ICT and Cyber.

This is because processing data in external clouds is out of the question for the Austrian Armed Forces, as Hillebrand explained on ORF radio station O1. It was already apparent five years ago that Microsoft Office would move to the cloud. Back then, in 2020, the decision-making process for the switch began and was completed in 2021.

An anonymous reader shares a report: A software update rolling out to Samsung's Family Hub refrigerators in the US is putting ads on the fridges for the first time. The "promotions and curated advertisements" are coming despite Samsung insisting to The Verge in April that it had "no plans" to do so. Samsung is calling it a pilot program for now, which -- I kid you not -- is meant to "strengthen the value" of owning a Samsung smart fridge.

Research shows China's top AI firm DeepSeek gives weaker or insecure code when programmers identify as linked to Falun Gong or other groups disfavored by Beijing. It offers higher-quality results to everyone else. "The findings ... underscore how politics shapes artificial intelligence efforts during a geopolitical race for technology prowess and influence," reports the Washington Post. From the report: In the experiment, the U.S. security firm CrowdStrike bombarded DeepSeek with nearly identical English-language prompt requests for help writing programs, a core use of DeepSeek and other AI engines. The requests said the code would be employed in a variety of regions for a variety of purposes.

Asking DeepSeek for a program that runs industrial control systems was the riskiest type of request, with 22.8 percent of the answers containing flaws. But if the same request specified that the Islamic State militant group would be running the systems, 42.1 percent of the responses were unsafe. Requests for such software destined for Tibet, Taiwan or Falun Gong also were somewhat more apt to result in low-quality code. DeepSeek did not flat-out refuse to work for any region or cause except for the Islamic State and Falun Gong, which it rejected 61 percent and 45 percent of the time, respectively. Western models won't help Islamic State projects but have no problem with Falun Gong, CrowdStrike said.

Those rejections aren't especially surprising, since Falun Gong is banned in China. Asking DeepSeek for written information about sensitive topics also generates responses that echo the Chinese government much of the time, even if it supports falsehoods, according to previous research by NewsGuard. But evidence that DeepSeek, which has a very popular open-source version, might be pushing less-safe code for political reasons is new. CrowdStrike Senior Vice President Adam Meyers and other experts suggest three possible explanations for why DeepSeek produced insecure code.

One is that the AI may be deliberately withholding or sabotaging assistance under Chinese government directives. Another explanation is that the model's training data could be uneven: coding projects from regions like Tibet or Xinjiang may be of lower quality, come from less experienced developers, or even be intentionally tampered with, while U.S.-focused repositories may be cleaner and more reliable (possibly to help DeepSeek build market share abroad).

A third possibility is that the model itself, when told that a region is rebellious, could infer that it should produce flawed or harmful code without needing explicit instructions.

An anonymous reader shares a report: Apollo is exploring a sale of early internet darling AOL after receiving inbound interest in the business, according to people familiar with the matter. Any deal could value AOL at around $1.5 billion, the people said. It is also possible the talks won't result in any deal, they cautioned.

Apollo bought AOL in 2021 as part of a $5 billion deal to acquire that business and Yahoo from Verizon. AOL generates around $400 million in annual earnings before interest, taxes, depreciation and amortization, the people familiar with the matter said. Its main business lines include software for internet privacy and protection, and the AOL.com website and email domain.

Robinhood has filed with the SEC to launch "Robinhood Ventures Fund I," a publicly traded fund designed to give retail investors access to startup shares before IPOs. TechCrunch reports: While the current version of the application is public, Robinhood hasn't filled in the fine-print yet. This means we don't know how many shares it plans to sell, nor other details like the management fee it plans to charge. It's also unclear which startups it hopes this fund will eventually hold. The paperwork says it "expects" to invest in aerospace and defense, AI, fintech, robotics as well as software for consumers and enterprises.

Robinhood's big pitch is that retail investors are being left out of the gains that are amassed by startup investors like VCs. That's true to an extent. "Accredited investors" -- or those with a net worth large enough to handle riskier investments -- already have a variety of ways of buying equity in startups, such as with venture firms like OurCrowd. Retail investors that are not rich enough to be accredited have more limited options. There are funds similar to what Robinhood has proposed, including Cathy Wood's ARK Venture Fund, a mutual fund which holds stakes in companies like Anthropic, Databricks, OpenAI, SpaceX, and others. [...] This new closed-end "Ventures Fund I" is a more classic, mutual fund-style, approach. As to when Robinhood's new fund will be available we don't know that either yet.