This 10th year of Daily Tech News Show is made possible by its listeners thanks to all of you including Dale Mulcahy, Matt Zaglin, and Scott Hepburn. Coming up on DTNS, Netflix has a new CEO, but it was planned for a long time. And Google plans to counter ChatGPT, those plans have leaked out, and Twitter, I mean... This is the Daily Tech News for Friday, January 20th, 2023 in Los Angeles, I'm Tom Merritt. And from Studio Redwood, I'm Sarah Lane. And I am Chris Ashley. Drawing the top tech stories from Cleveland, I'm Len Peralta. And I'm the show's producer, Roger. You didn't want to give a geolocation. You're in Cognito. I am Chris. I am omnipresent. Chris Ashley is the location. Alright man, let's start with the quick hits. T-Mobile disclosed in a regulatory filing that a malicious actor accessed data on 37 million customer accounts, including names, birth dates, and phone numbers starting on November 25th. T-Mobile deleted the activity, detected rather the activity on January 5th, and then fixed an exploited API flaw within 24 hours. This is T-Mobile's second major breach in a year with a threat group stealing source code back in April. Amazon announced it will increase the price of Amazon Music Unlimited in the US and UK as of February 21st. Prices will increase by either a dollar or a pound per month, depending on where. That includes student plans. They're all going up. Standard U.S. individual subscriptions, for example, will cost $10.99 a month. Apple Music and Deezer made identical price increases last year, and Spotify has indicated it's probably going to raise its price pretty soon as well. The Verge has more details on Samsung's new prototype 360-degree foldable display. Samsung Display, that's the subsidiary that makes Samsung screens, showed off the flex in-and-out display at CES earlier this month. It does rotate 360 degrees, basically folds both inward and outward, with a new water drop hinge design that is supposedly going to create significantly less visible crease by forming a looser shape. Although Samsung's fold line is still using displays that only fold flat in one direction, the new flex in-and-out design could show up in an upcoming device, perhaps the Samsung Galaxy Z Fold 5, which we don't know when is going to be released. Yeah, or they might change the name to the Galaxy Z 360 Fold. The flex in and out. The Galaxy Z Flex. Kind of like that, actually. To mark the 40th birthday of the Apple Lisa desktop, the Computer History Museum, with the approval and cooperation of Apple, released the source code for the Apple Lisa Office System 3.1 that was originally released on January 19, 1983. The operating system comes in at 26 megabytes, so clear that off if you want to download it, and it's licensed under Apple's academic license agreement, which allows for non-commercial open source use of the code. A new report from Canalist found that Xiaomi smartphone shipments in India fell 40% on the year in Q4 to 5.5 million units. As a result, for the first time in 20 quarters, Xiaomi did not ship the most phones in that country, falling to third. Samsung retook the top spot for first time since 2017, and Vivo shipments rose 13% to take the number two spot. Overall smartphone shipments in India dropped 27% on the year to 32.4 million units. Alright, that's a big change in a big market. Let's talk a little bit about that Netflix news. Yeah, so in yesterday's show, right in the middle of the show, we got news that Reed Hastings was stepping down. But let's talk a little bit more about that and Netflix's latest earnings report. The company announced earnings Thursday, but started with that bombshell that Reed Hastings stepping down as co-CEO with COO Greg Peters, now co-CEO alongside Ted Serendos. Hastings will remain as executive chairman of the board. Now in a blog post about the move and the shakeup, Hastings said that Serendos was promoted to co-CEO back in July of 2020. Peter's to COO partly because of long term succession planning. So probably this was not a big surprise to anybody that Hastings says he will now want to spend more time on philanthropy. It was a good quarter to go out on. Analyst had expected a rise of 4.57 million subscribers and Netflix almost doubled that, adding 7.66 million subscribers in Q4 to reach 230.75 million total subscribers worldwide. Also, every market grew. The U.S. and Canada grew at least 910,000 subscribers. Europe and the Middle East grew the most with 3.2 million new subscribers. The company met analyst revenue estimates with 7.85 billion dollars in Q4, missed on earnings though. A lot of that had to do with some currency stuff in Europe. Netflix also thinks its ad supported tier is off to a solid start and expects that it will bring in about 3 billion dollars in annual revenue. New co-CEO Greg Peters said engagement is quote comparable to similar users on non-advertising plans. Yeah, as far as revenue, the company also followed up on plans to add a path to paid sharing of accounts saying that those methods will roll out more broadly later in Q1 of 2023. The terms of service for the company have always prohibited sharing the account outside of your own household, but Netflix has been increasing its methods of detection while also testing ways to pay extra to add an out-of-household account. The company also plans to offer a way to keep your profile data if you decide to start a new account of your own, making it easier if you were already on a shared account to begin with. So, Chris, of all this news, what part of the Netflix news surprises you the most? You know, while much of this is very interesting, the user addition is kind of super surprising because Netflix has been around for a while, so to see them breaking records, even though I think there was a point where they lost some subscribers, but to see them adding so many, it makes you wonder who just recently raised their prices, Disney just announced that they're raising their prices, so I wonder if they're peeling off folks that are like, I've had it with some of these other services, I'll just go back to Netflix. I was surprised by the numbers too, Chris, because for many quarters it's sort of like, oh, Netflix, you know, growth is slowing, the people who want Netflix already have it. Certainly the U.S. and Canada was a market that had slowed quite a bit, and even lost subscribers at times. I don't totally know if it just means that the competition has gotten more expensive and people are whittling down what they decide to pay for, but you would assume that you would probably already be a Netflix subscriber and drop something rather than become a Netflix subscriber out of nowhere, given all the choices that you have. I agree. I wonder how many of these are returning subscribers. I wish they would give us that report. I imagine it's not the majority, but I wonder how much of this chunk is a subscriber who said, I'm tired of the price increase, done, I'm out, I'm mad, I'm not coming back, and then realized they missed things on Netflix, because some of the analysis had been like, well, Netflix is having subscriber growth problems, because it's making too many massively appealing shows, and I'm like, well, you may not like those massively appealing shows. You may consider them lowest carbon denominator, but the reason they make them is because they appeal to people, and if that's the case, if they really do appeal to people, then people will probably pay to watch them, and this seems to bear that out, which is, yeah, Netflix has got a lot of popular stuff on there, and over the holidays, they had big hits like Wednesday, they've had all kinds of other stuff, movies and things, glass onion. So I feel like this kind of indicates that Netflix is making programming that people want, even if it's not what you or I particularly might want at the time. Yeah, adding content should never be seen as a detriment. You can never speak for what everybody likes, right? So the more content you have, the more people you have an opportunity to attract, but certainly there should be something said as well about the ad-supported version of Netflix too. It allows them to come in at a cheaper price, and so certainly that'll attract more people as well. And finally, I love the fact that they're embracing the sharing of accounts, because we saw through Napster and all those things, when you just go hardcore after the people that are sharing these type of things, it never ends well, right?  People embraced it and they rolled with it. So I think Netflix is definitely doing the right thing when it comes to that as well. I think Netflix is smart too, because they said in the earnings call that as they roll this out more widely, they expect some backlash. They expect people to cancel accounts because they see that message and get upset. They're prepared for that, and they know that will have an effect on its numbers, but the tone that I got was that a lot of those people will come back same way they did this last quarter. I wonder if the weather had anything to do with it too, at least in the United States and Canada. I think that's a factor for sure. Alphabet announced it will cut 12,000 jobs, roughly 6% of its global workforce. CEO Sundar Pichai said job cuts are going to fall across the entire company in all regions, though the Wall Street Journal said recruiting and projects outside of the company's core businesses would be more heavily affected, at least according to Wall Street Journal sources. Google makes up about 75% of Alphabet's employees, so you can imagine that even if it's evenly added, Google is going to have the most losses here. Alphabet is one of those companies like all the other tech companies we've been talking about who had overhired. Sundar Pichai made the usual thing that tech CEOs make now and said it's my responsibility. Alphabet had added 37,000 employees last year, so still a net gain on the year, I guess. Yeah, but the New York Times source say that Google founders Larry Page and Sergey Brin have called in to give advice in response to the rise of chat GPT, which is interesting. I didn't even hear about this until two weeks ago. However, Larry and Sergey have been largely hands off for the past decade or so, but apparently pitched ideas and approved plans on how to get more AI into Google products. Yeah, and something that might offer a little bit of a slice into what that might be is a slide presentation indicating that Google has plans to show off a search engine with chatbot features sometime this year. Also planning to introduce more than 20 projects somehow related to AI at Google I.O., which happens in May. The slides say Google thinks that copyright, privacy, and of course antitrust are the primary risks to rolling out new tools. Yeah, that's why Google's slow. If everybody's like, why are they so slow on this? That's why, because they know copyright, people are going to come at them. Privacy, the public's going to come at them. Antitrust, any product they put out, if it's anything similar to anybody else, the government's going to come at them. Yeah, let's go through some of these projects that the New York Times said were mentioned in the slide. An image generation studio, that seems like a no brainer with Dolly out there, right? Yeah, and the fact that you see a lot more folks starting to take advantage of these fake images that are being created and just being able to use them in general marketing and stuff like that. Definitely. That's almost table stakes at this point.  A tool that would summarize videos by generating a new one. Now, that one is a little bit of a head scratcher. Is it like editing? Yeah, I'm curious. I mean, let's say a tool is going to take a look at what we're doing right now. You have a video version of the show. What does that tool give? Does it summarize what our show was? Does it try to say what we did or is it just edit down like here are the important parts? Is it one of those like here's the Apple keynote in 10 minutes kind of things? Yeah, so I could see potential problems with that because I think one of the episodes I was with you a long time ago where they started talking about how the news aggregation was being removed and I think it was Australia. And so because you're taking our content and now you're attracting people to your site and you know, we're not getting the money for our content. I see definitely something along the same path. That hits that copyright risk right there. A product prototype tester. Okay, fair enough. More testing, more always good. Yeah, no brainer. Something called Maker Suite, which lets companies create algorithm powered product prototypes in a browser window.  I guess, you know, some somewhere along the lines, they must have threw it against the wall and it's stuck. So I'm not sure who's clamoring for algorithm powered product prototypes, but okay. Palm Coder 2. This is a code generator like GitHub's co-pilot. So bringing them up to Microsoft Snuff there. Yeah. And you know, things like that, I see more play in because definitely creating a shortening the gap for folks to get into coding and creating applications. I always like, so anybody that does anything around that, I'm always for that. And it's only old people like us who will think it means coding for a Palm pilot. I mean, I would be like, excuse you, Tom, who is only an old, but that's exactly what I thought at first. I was like, Palm? Collab plus C or co-lab, I guess, not collab, C-O-L-A-B plus Android Studio. Collab plus Android Studio for building smartphone apps. I like the idea of this one, the ability to be like, I just needed to do this and it's like here, here's your Android app. Yeah, for sure. And much like the previous one, you know, making app generation and coding a lot easier for folks. Definitely because I can't code, but I always have like, man, I'd love to get an app that does this. That's the idea. Yeah. It's a, yeah, talk about no code. It's like negative code. And the last one I'll pull out of the New York Times article shopping try on a YouTube green screen feature to create backgrounds. So call me nuts, but I understand the whole shopping try on. People are trying to make this technology work in a way that we all use it. What would a green screen do to help me try on something? I think, I don't know if this is like, if I cut and paste it badly from New York Times or it's just badly written. But I think what they're saying is like a green screen, they can put you in something on the shopping situation. Put on that new pair of jammies and we'll give you a like a cool background. Well, if you want to see what your new dress looks like when you're walking out of the Emmys. Oh, of course, Chris. Of course. I expect to be there next year. You're trying on an outfit. It's like, well, how's this going to look at the rest of the year? That's how I see it. When I get out of this horrible dressing room with fluorescent lighting. This is sort of thing. There'll be some YouTube folks who are like, this is awesome. Why not give people features like that? Now, me personally, I have never ever used the feature in any application or buying store where it's like, oh, let's see what this looks like on you.   I threw one in here, too. I didn't put it in our notes, but yeah. And it was like, okay, yeah, I know what the shoes are probably going to look like on my feet, but that's not my major concern. My major concern is, oh, my bunion's going to hurt every time I take a step. That's what I need to know. That's GPT five. I don't know. These all seem fine. None of them struck me as ridiculous or anything. I think the bigger deal is that Google is big and slow now. And the fact that this slide said copyright privacy and antitrust are our primary risks. Open AI has to deal with copyright privacy and antitrust, but they're not like Google where they're going to know immediately as soon as they put anything out, one or more of these are going to be a problem for everything they do. And that's what takes them longer. Well, those are their primary risks. I would say any fool that takes on any of these things is your primary risk is that it won't be around long enough for you to enjoy it. Yeah. The one they put in search, the one they put in Google search, that one I feel confident will stick. Any of the rest of them, I don't know if I'd build your entire business. Good luck with that. Folks, if you disagree, if you're like, no, no, you can trust him. Here's why. Email us or email us about whatever is on your mind. Feedback at DailyTechNewShow.com. Andy Beyo was the first to discover, or at least the first that we saw tweeted about it, that Twitter added language to its API rules on January 19th that prohibits the use or access the licensed materials to create or attempt to create a substitute or similar service or product to the Twitter applications. In other words, we don't want to work with third parties anymore. This comes two days, just two days after Twitter had posted that Twitter is enforcing its longstanding API rules that may result in some apps not working. Now, we don't know why some third parties were found in violation before the rule changed, but it does mean that going forward, essentially any app mimicking the Twitter app would be in violation of this new rule. The Verge recently noted that an entire API team responsible for working with third-party apps was laid off in November. Yeah, so many third-party apps have been pulling their apps from stores, suspending service. Twitterrific, for example, has been discontinued. The team made it official just a few hours before this show. TweetbotmakerTapots announced that Tweetbot was shutting down. They're working on a mastodon client, but Tweetbot just can't exist anymore. Phoenix, that's an app that continues to work on iOS, also continues to have API access. But the developer, Mateo Villa, told Engadget, he pulled the Android version and was left with an app working fine on iOS that people are still buying, but Villa said, I'm wondering if I should pull it too. A lot of people wondering a lot of things at this point. So, I don't know, Tom, what do you think is going on here? Yeah, look, to me, the biggest problem with this is how it was done. It's fine if a developer or a company says, you know what, we're changing the API, we've changed our business model. We don't even know you an explanation, but it's just, I don't know, good relations to say, we will be cutting off your access at this point. When you understand you built a business on this platform, so we're giving you a grace period. Rather than just one day say, oh, you're in violation and we're not going to tell you why. In fact, we're not even going to talk to you.  And then two days after that, we're going to change the terms so that you can't even do what you're doing. Just the way this was handled is what bothers me, not the fact that they did it so much. Yeah, and especially if you take into account that they have said that they want to create better relationships with developers. This ain't how you do it.  Yeah, so when you listen, folks, I love the opportunity to jump all over somebody that I don't really find. I'm not really a fan of, but let's, we should be honest, as much fun as we're having watching, you know, all of this stuff go down. The dude did overpay for a company. He owns it. He does have the right and the responsibility to make it profitable, right? So is he can do these things as he sees fit if that, you know, if you're looking at the business model that previously existed and it's not making any money, you got to, you got to kind of change it, right? And you got to do some of these things. But I think it's also fair and then saying, you don't have to do it like this. You know, just be open, honest, be cool. Like, listen, we're making this change. Here's a warning 10 days, this thing's going out.   And it's like, it's not their fault that the app's not working. As a Tweetbot user for many years, there are many, many new Twitter features or even just, I don't know, just experiments that the company has tried or people lamenting, you know, there's too many ads and they're not relevant to me. I never saw any of that because they use Tweetbot. The whole time I thought at any moment this is going to go away because why would Twitter want me to not enjoy all of its new features, whether or not I like the features the company wants users to try them, you know, to understand what people want and don't want. And so, yes, I figured this day would come at some point. The complete lack of communication is appalling. That said, so much has happened within Twitter that I don't really know who would have communicated this effectively because as I understand it, a lot of the comms team is no longer there. You know, the teams that were working with third-party apps, it sounds like in large part are no longer there. And, you know, the folks who are running the business and trying to make a quick buck, you know, I don't know that they really care about the developer community. The developer community is a big one and I wouldn't consider myself part of that community. I'm certainly part of the community that enjoys the developer community because I like to have options. So, you know, you ticked off a lot of folks. I just don't know how you bungle it worse. And in the end, I don't think this is going to reduce Twitter usage. It will probably, as Chris pointed out, increase revenue because more people will have to use the first-party content, which has the ads. And I don't know that there's any short-term consequences at all to doing it this way.  It'll be like, well, but do I want to do it on that platform? Because it might not stick around. It's like the Google stuff we were talking about earlier. Man, it sounds like a good idea, but I don't know. I get a queasy feeling. And that's not something you're going to be able to measure. And you can't prove a negative. So I'm not saying that this is going to blow up in anybody's face, but that's the only consequence I can think of. Well, we should be clear, though, on one aspect. I think you're right on that. But in the end, there's no way any company, any software company, can scale to every scenario, every issue, every idea that comes up that makes your product better. You can only do what you can. And that's why I have a solid API where outside forces and outside developers can then take your platform and bring it to the next level. It's very important, even in the game that I play Destiny, their API is regularly managed. It makes playing the game better because these outside users or developers make apps that work better than what the company has time to put forth effort into. And same thing with Twitter. There's no doubt that a lot of the Twitter third-party Twitter applications were way better than what Twitter was delivering themselves. And it'll be easy to show they're gone, but it will be hard to show what could have arisen later. And a lot of people have been pointing out Tweety was the app that became the Twitter app when they acquired it. A lot of the features of Twitter started on third-party clients and then were adopted into the main Twitter universe. And you won't be able to tell that's not happening anymore. Moving train media said a short-term consequence will be ill will from users. The reason I didn't mention that is I'm not sure that ill will could get any bigger. So, you know, at this point there's so much ill will from users because of other things that I'm not sure this is really going to move the needle much. That train has left the station. Well, developers will continue developing. And this is a fun one, all right? We're going to end on a high note here, everybody. Developer Mate Markle Shore posted a video on Reddit showing off a GPT-3 plus Apple Siri voice assistant combined demo supporting more conversational voice commands and understanding more vague prompts when controlling various home kits, smart home devices. For example, Marshall Core's voice prompt, just noticed that I'm recording this video in the dark in the office. Can you do something about that? Gets the lights turned on. Marshall Core also asked for a temperature that would help me sleep better but didn't say specifically what temperature to leave it at. So, instead of choosing a specific number, the AI responded by setting his bedroom thermostat to 19 degrees Celsius. Now, you might say, what, how, how, how do you do it? In a blog post, Marshall explains that he's using Apple's Shortcuts app to interface between Siri GPT-3 and then HomeKit-enabled devices that he has in his house. So, a voice command goes to Siri. That causes Shortcuts to send a prompt to GPT-3, requesting a machine-readable response. Then Shortcuts gets that back, parses it to control smart home devices, and then if you need a response using Siri, then you get one. Marshall Core says that each command costs about $0.014 per API request sent to GPT-3. So, occasional use, not going to break the bank. But, if you were to scale something like this, could be a little challenging. So, 1.4 cents, basically. It's not nothing, but yeah, in a regular household, that's not bad. I don't know, I love this. This is what open platforms allow to happen, that you wouldn't have known were going to happen before, right? I think this is a great example of this. I love anything home automation. I have pretty much every switch in my house has something on it, lights, I love talking to Siri when I come home, doorbell, alarm, everything. Even the fact that just starting my truck from my phone and never picking up my key. All these things are awesome. So, when I see something like this that's next level, it gets me re-excited about what you can do around home automation. So, really, really cool stuff here. I just don't want somebody to walk in and see me having a conversation with Siri around my lights and my house temperature. I don't know, I think it's going to happen soon enough. For anybody who's like, is this really all that different than just the prompts that I'm used to using? It is. And we'll have the video, a link to the video in our show notes. It's really worth watching. There's not a ton to see, but it is a video of how conversational this actually is. It really is just chatting with the robot. If you've gone through with Echo or Home or Siri or anybody that having to ask something four times because you're like, I know you can do it. I just need to phrase it right. This feels like Nirvana. Watch this video where he's saying stuff. It's amazing. Just yesterday, I was trying to get Siri to play a song for me. My daughter was laughing at me because I had to figure out how to word it so she could pick up what I was saying. So yeah, something like this would be really dope. All right. Let's check in with Len Peralta, who has been illustrating today's show. Len, did you resist the siren call of drawing Twitter again or not? Oh, it just pulled me in. Sorry. What are you going to do? Yeah, you know, I try not to be too editorial. I mean, I kind of jump into that editorial vein every once in a while. I think this for 2023 is probably going to be my most editorial version. This is called the Big Blue Crackdown, which is. Oh, wow. You just have to see it. I don't want to say too much. Just like Prince Harry at Halloween. Exactly. You got to check it out. It's basically the Twitter birds sitting on top of three three Twitter apps, third party apps that have even been old around longer. That's the crazy thing. They've some been long around longer than the actual Twitter app itself. So if you want to see the Big Blue Crackdown and Twitter cracking down on third party apps, you can go to my Patreon, patreon.com forward slash Len. That is you get it free if you just back me at the Patreon level or at the DTS level, or you can just go the old fashioned route and go to my online store, which is Len Peralta store.com. It's right there in the front page. And I'm also taking commissions too. So think about that as you as we go into the Valentine area. They're amazing. Valentine commission, not a bad idea. Brilliant one. Brilliant. Thank you, Len. As always, brilliant work. Chris Ashley also brilliant work from you. Let folks know what else you're up to. You can always check out me and the homies on SMR podcast. Check us out on smrpodcast.com. And of course, the next season of barbecue and tech is on the way folks. We're about to do it up again, wrapping up our Christmas smoking and then getting into some Super Bowl stuff and planning for our Super Bowl feast. So yeah, right around the corner. So coming soon, folks, coming soon. Well, glad to have you both on the show today. Also glad to thank a brand new boss. In fact, it's a family trust. The Bain family trust just started back in us on Patreon. Thank you, Bain family. We trust you're happy. Yes, we're glad you put your trust in us. Literally. Quite literally. Speaking of patrons, do stick around for our extended show, Good Day Internet. We'll talk about all the things. You can also check out the show Monday through Friday at 4 p.m. Eastern 2100 UTC. We do it live. Did you know? Find out more at dailytechnewshow.com. Back on Monday with Lamar Wilson joining us. Have a great weekend, everyone. This week's episodes of Daily Tech News Show were created by the following people. Host producer and writer Tom Merritt. Host producer and writer Sarah Lane. Executive producer and Booker Roger Chang. Producer, writer and host Rich Strafolino. Video producer and Twitch producer Joe Koontz. Technical producer Anthony Lemos. Spanish language host, writer and producer Dan Campos. News host, writer and producer Jen Cutter. Science correspondent Dr. Nicky Ackermanns. Social media producer and moderator Zoe Deterding. Our Mods. Beatmaster, W.S. Goddus 1. BioCow, Captain Kipper, Steve Guadarama, Paul Reese. Matthew J. Stevens, a.k.a. Gadget Virtuoso. And J.D. Galloway. Modern video hosting by Dan Christensen. Music and art provided by Martin Bell. Dan Looters, Mustafa A. A-Cast and Len Peralta. Live art performed by Len Peralta. A-Cast ad support from Tatiana Matias. Patreon support from Dylan Harari. Contributors for this week's show included Nika Monford, Scott Johnson, Justin Robert Young and Chris Astley. And thanks to all the patrons who make the show possible. This show is part of the Frog Pants Network. Get more at frogpants.com. I hope you have enjoyed this program.


You're watching the Daily Decrypt. It's all currency competition all of the time. I am your host Amanda B Johnson and today's episode is brought to you by Bank to the Future. Today I spoke with MMA superstar John Fitch. There's not enough education out there for people about cryptocurrency. It's not like mainstream media is really pushing anything and being like, hey, this is a great thing. There's a lot of people embedded in power and the current systems and they don't want people going outside of those systems. So you kind of have to do the grassroots approach and you're going to have to find people who are kind of outliers and find them to help promote and get the message out to people. And if you have somebody like me who's got the ear of some fans, you know, they're going to listen to me and be like, hey, at least check it out. Just like some football fans first learned about Bitcoin from the Bitcoin Bowl sponsorship and some NASCAR fans first learned about Dogecoin from the NASCAR sponsorship. Some MMA fans have begun to learn about cryptocurrency from various sponsorships that John Fitch has taken on. So when I fought Dennis Holman a couple years ago, I had Nautilus Coin sponsorship and then I had a Bitcoin direct as a Bitcoin umbrella company that sponsored me for a different fight later on. They're responsible for setting up the Mike Tyson Bitcoin ATM and some Bitcoin ATMs here in Las Vegas. Coming up this weekend, yes, I have a I have a hyper crypto sponsorship. It's a altcoin sponsorship. It's also more importantly, I think is is the website and the community because it's a gaming community. It's not just a coin. As you may recall, earlier this month, we spoke with Jeremiah Nickel, marketing director for Hyper, who went into detail about the gaming communities that use hyper for play and for payouts. John emphasized that it was the community aspect that ultimately convinced him to take on the hyper sponsorship. There's a use case and as long as the developers are staying working hard on it and people are playing video games, which I don't think people are going to ever stop playing video games. There's a use case and I think there's a community built in for success there. What is John's story? Did he become interested in cryptocurrency only when people started asking to pay him to put the names of their cryptos on his shorts? I've always been into history and current events and what's going on around the world. I'm always trying to keep up to date with that stuff. I started following David Seaman back when he was running for government in Florida a long time ago. He was the one that picked up on this cryptocurrency and I started following it then. He was mentioning it at $5 or $10 a coin and I didn't have the guts to get into it at that point. I think entry into it was a little bit harder because I'm not a big technical guy. It wasn't like that and you could just buy someone with your credit card. It was a lot harder. I followed it all the way up until $1,200 a coin and then it crashed and then I started buying it at like $600 and then playing around with all the coin markets and stuff like that. Just having fun with it. Never putting in more than I could lose but just the best way to learn anything is to dive in and try it out. I'm interested with the technology. I think it's much better. My mother was a part of the credit card hack of Target a long time ago and that sparked my interest in it too because if she would have used bitcoins she wouldn't have gotten hacked and her wouldn't have had to go through all the steps of getting her card redone and all this other crap. It's better technology than what we have right now. John then went into detail on what he thinks of cryptocurrency technology as compared to older technologies. If I had to get money to you or whatever I would have to use something like PayPal or one of the credit union money transfer places or I had to write and send you a check. Those are the use cases of getting the fiat to you. They're bulky, they're heavy, somebody could steal the envelope and take the check and defraud the check and the money.  I think there is kind of a use case there. It's bulky, cash is bulky. John says he has spent cryptocurrency before, namely Bitcoin at places like Overstock.com. He says he also talks to his friends about cryptocurrency in general and has for years. I've been arguing with people for a while about oh, this is a great thing and arguing the points of decentralization with the money and I get feedback from my friends and stuff. That's the reason it's bad is because it's decentralized and there's no authority and I have differing opinions. I think that's what's good about it. The only advice for it is buying and selling it. I've given it to people with the Nautilus coin we were doing just like with the Hypercoin, we did a crowdfunding to get a spot on the shorts.  I held on to mine from the sponsorship the whole time because I was leaving in the coin and the use case. I thought it was really genius. John told me that for him, market capitalization is important in cryptocurrency. The larger the market cap, he says the less impact any one trader can have to cause swings one way or another, hence achieving more price stability. What I found is that a lot of it's just hype because people are always talking about what they're going to do rather than telling you what they're actually doing. The prices would go up and down based on what these people said they were going to do, but you never have any idea of what their real intentions are or if they just have the ability to carry through and finish what they say they're going to do. With technology, things happen faster. A lot of these coins rise and fall very quickly, but the ones that have, I think, three big things. Use case, functionality, how well do they actually work, and then their community, I think those three things are going to be the indicators of whether or not the coin's going to bust or not. I then asked John if he is open to taking more cryptocurrency-related sponsorships and he said he's willing to take on sponsorship from any organization that he believes in and left off with this message. I don't think of people as fans. I think it's my community. I'm building a community that supports me and my athleticism and what I'm doing in athletics and other social things that I'm doing. I'm a medical marijuana activist. I believe that that's part of my community also. I'm not just here to take from people. I think we need to all kind of stick together and work together and make things better. I'm trying to coin the term. I'm a decentralized. I believe that the future is a decentralized one. I think with technology, we no longer need representatives to make decisions for us. We can make the decisions ourselves through our own communities. So yeah, I think we just need to stick together, have each other's backs, so we don't have to rely on these oligarchs or other people to do things for us. John will be fighting for the welterweight title this weekend in Las Vegas at the World Series of Fighting. Today's episode is brought to you by Bank to the Future, the online investment platform that invests in the future of finance. One of their investments was Bitcoin Group, and below you can find a video link that explains the impact Bank to the Future could have had if regulators would have let the IPO happen. You can learn more about that at banktothefuture.com. And I don't know who'd done it, but someone has begun creating MP3 files of all of the daily decrypts episodes. It's like the podcast we never had but always wanted. Hell, I don't know how long it'll last, but it sure works for now. That link is in the description if you want it. Have a good day. Wow. How have you been? Very, very good. I've not seen a patient yet that wants to pay with Bitcoin, though, since you guys. We got a lot of press, but I've not had anybody offer me Bitcoin since you all were here. All right. Well, maybe this interview can change that.


every course that is done now, so that sort of perception now needs to change. I think that we need to look much broader across what are the soft skills that are preparing young people and, indeed, adult returners to go into the job market. Yes, there is definitely a sense that I can only speak from my own local authority where we have been heavily involved. We have been able to influence some of the strategic priorities. We have put a real emphasis on the school-college partnership. There has been a recent report that was launched through CDN College of Scotland around the role of colleges in that school-college partnership, on how we can help to build capacity. We know that there are challenges for teachers in those specific areas. We know that there are challenges with equipment and infrastructure, so we need to be able to blur the lines of what is a college education, what is a school education. Actually, it is just an education, an option and a choice and a pathway that should not matter if it is done in school, or in a college. There is a realisation and awareness. I know that it is very different across local authorities, right across Scotland. There are very different approaches. Even the basic challenges of aligning timetables in the school day are the simple things that are causing some of the bottlenecks. Where we could make a significant impact is recognising the importance of that school-college university joint work-in piece. We have clear aligned days and clear strategic priorities in each region, and we are properly working collectively together to tackle that. I think that it is going to take that whole education system approach to allow that to happen. If I can move on to Chris now. Chris, you mentioned earlier about needing more folk back to work, and we need more routes for training for upskilling and retraining. Can I ask a really simple question? What do you mean by retraining folk who are already in the industry or coming into an industry for the first time? I am asking because folk out there who are moving over the just transition staff are maybe not aware of what information is out there to go and find out about do I need to retrain or do I need to reskill and what is the difference? I hope that I am making sense when I am asking that question. Also, what can our local authorities do to build the capability and capacity that was spoken about before? Not only for their own workforce but also to help the private sector, sorry.  In simple terms, an example of upskilling would be someone building on their existing skills in a job or in a company that allows them to be more effective at delivering their job. In relation to the transition to net zero, as I have said several times, that has got to be the important component. Retraining is about more in the space of moving from one job or sector or company into another. It is about a fundamental ratio of moving from a civil servant like myself to being an engineer would require not to be upskilled but to be most significantly retrained. The reality of our education skills system in Scotland is that, for a long time, we have been focused on that transition from school into the labour market. It is a significant huge proportion of our investment and, including our modern apprenticeships, has been focused on people aged 80 to 24. One of the challenges that we are wrestling with is how we create the space and the system to focus on the challenges of the next 10 years, not the last 20. We have heard the phrase, difficult choices, several times being used by sign today, but part of the system that I think needs to wrestle with is how we rebalance that investment towards a more balanced portfolio of training routes that meet the labour market and the skills needed in the future. One of the issues that has brought, or several issues that have brought this into chat focus, has been what has happened as a combined result of the UK's decision to leave the EU as well as the Covid pandemic. We have had a choke on labour supply for one of the better terms, where we have fewer people coming into the country than many of those who have come in may have gone home. Secondly, I mentioned this right at the outset. I apologise, something is calling in my mobile. We have also seen a significant increase in economic activity. There is something like £286,000 that I have probably quoted at the number rule, but there is £286,000 that I have quoted at the number rule. There are nearly 823,000 people who are classed as economically inactive and not available for work. At a time of significant labour shortages, we need to be thinking quite hard about bringing in some of those people back into the labour market to address those shortages and, again, retraining will be a really important part of that. Thank you very much for that, I have convener. We are up against the clock, but I wanted to follow up briefly with Chris on Monica Lennon's question on the Green Jobs Workforce Academy. As you will appreciate, Chris, there is a bit of confusion on exactly what the academy is about, but you helped to clarify that. Is there a dedicated budget for the academy? What is that budget just to give us a scale that ascends some context of the scale of resource that is being put into the academy? I will provide a written answer to that convener in the danger of misstepping over a number of statistics. What I would say is that that is not necessarily a straightforward question to answer. Let me explain why. Is there a dedicated budget for the delivery of the Green Jobs Workforce Academy as a site and as a concept? We can provide those details in due course, but I am not in a position to track the extent to which training is undertaken through the academy. If an individual goes into the academy and goes into a course in Lewis Castle College or in Simon's College, we are not at the moment routinely tracking the financial contribution towards that. We will be able to provide an answer in terms of the dedicated budget to the Green Jobs Workforce Academy, but the way that it is designed will draw on existing resource already in the scale system. I hope that that makes sense in terms of the challenge in answering that question directly just now. No, it does, Chris, and I very much appreciate that. If you could provide what you suggested in writing to the committee, that would be very much appreciated. That brings us to the end of our time, so let me thank the panel again. We covered a significant number of issues. Thank you very much for your insights and for setting out your views on some of the challenges faced in this area. That brings us to the end of the public session, so I now close the public part of the meeting. Thank you very much.


It's like crossing. Ten something, but I didn't get last. Maybe if I don't have anything. Maybe you'll get something and I will. I wait for you.


For more videos on people's struggles, please subscribe to our YouTube channel. The Bangladeshi government dispatched yet another batch of Rohingya refugees to a remote island prone to floods. Six vessels scanning around 1,800 refugees left Chhattogram early on Tuesday, December 29 to the island of Bhasanchar. Bhasanchar, located in the Meghna river's estuary, is 40 miles away from the mainland. On December 4, the first batch of 1,600 refugees were relocated to the island. The island is said to have emerged from the sieges 20 years ago and is prone to flooding. United Nations High Commissioner for Refugees, Filippo Grandi has raised concerns about the safety of the refugees and the allegations of their forced relocation after the first group was sent to the island. The Bangladeshi government claims that the shift to the island is voluntary and preparations were made to tackle flooding and other potential disasters before moving the refugees. The government also claims to have built a 12-kilometer embankment to protect the island from flooding during high tide. It says it has built houses for over 100,000 people with all basic amenities. Bangladesh has over 1.1 million Rohingya refugees living in different camps in the country. Rohingya refugees in Bangladesh are living in rudimentary conditions. With 40,000 people per square kilometer, the refugee camps are one of the most crowded places on earth. Respiratory diseases and diarrhea is very common among the refugees. Nearly half of the Rohingya children don't have access to formal education according to reports. Rohingyas were forced to flee from their homes in Myanmar's Rakhine province due to state-sponsored persecution and attacks against them. In the name of fighting separators, groups, the Myanmar army attacked Rohingya villages and burned their houses, forcing millions to flee across the border to Bangladesh and other countries. The UN has accused the Myanmar army of carrying out genocide against Rohingyas.


Elaine Martis will now present the closing perspective and it's an honor and a pleasure to have you here to give us your perspective. Thanks David, really appreciate that and this is the fun part of being a meeting organizer I guess is that I get to sum up. I just have a few quick slides that I wanted to use to sort of portray the momentum of the project but also give you a flavor of what's underway as I see TCGA is something that's sort of growing and morphing and changing as we learn more and are able to do more within the network that we've generated and it certainly has been as a person who's been involved in this network for some time now I'm very exciting and gratifying to see not only the number of people attending the meeting from outside the TCGA network but to also see the exciting applications of the data including especially the last two talks really beginning to reach out to the clinical aspects of the disease and begin to impact all of that. So I just put together a few slides which I'm not any better at advancing than anyone else was apparently. There we go. So as many of you know from Eric's opening comments the original notion of TCGA came from a 2005 white paper and you can see here that the short term goals were milestones such as samples collected and analyzed and data made accessible but we're already seeing at this meeting a longer term beginning to move towards impacting the lives of patients and I think that's only going to be more evident as we go forward in time. One of the great aspects of this project that's really been driven forward over just the last year as you can see is the difference in the number of tumor types and the multitude of different types of data that are going through our pipelines now across many, many tumor types and you've heard examples of that throughout the meeting this week but the bottom graph really represents where we're at and I'll tell you a little bit more about where the future is going to take us. Part of all of this is the aspect of big science so we're seeing the benefits of this and this is really following on the heels of other large science projects such as the Human Genome Project as well as the HapMap and 1000 Genomes projects that have been mentioned here as well as others and you know it's true that and really we've seen great evidence that these big science projects have multitudes of spin-offs for other people in terms of the different kinds of analyses that can be done and the ultimate downstream benefits to biomedical knowledge that are created and I think this is one of the values of having big science projects as Eric articulated as well earlier. So right now there's a status report for your consideration in terms of data available from all of the tumor projects. You can see multiple thousands of tumor normal pairs in terms of in the pipeline at various stages and data becoming available and this will continue as we move forward on these multiple tumor types that I just showed. This really just exemplifies the notion behind TCGA which is not to take DNA data or RNA data or what have you in a vacuum but rather to try and integrate it across the data types as shown and I think these are some of the most exciting challenges that we have ahead of us is really coming up with intelligent and informative data integration approaches. You've seen a few examples at this meeting. I think there are others that are underway and the multitude of data types I think will really drive this because there are of course many, many ways in which a gene can be altered in the context of oncogenesis. So this is my bold prediction, mine and mine alone I should point out. I think 2012 is going to be the year of TCGA post pilot publications and I've just listed some of the projects here that are really well along, several of which I'm happy to be a part of including AML, breast and endometrial cancer but there are going to be I think some very exciting primary publications as well as supporting ancillary data analyses coming out of these projects just in this next calendar year and this is probably an underestimate at this point in time but these are the ones that I know the most about. In addition to the exome capture and I think again this was alluded to in several talks there are whole genome sequencing approaches going on in multiple tumor types and this will end up being important moving forward because this gives you more a sense of the multitude of genomic alterations that aren't always captured by exome data and will better understand how structural variants for example are going to impact tumor genomics. So expanding the enterprise so just a couple of last slides on where this is all going I've listed some examples here some pilot projects that were announced this week at the steering committee meeting including looks into formal and fixed paraffin embedded preserved tissues of course as many of you know who do biobanking or tissue banking there is a wealth of data just waiting for us to mine out of formal and fixed paraffin embedded tissues but of course these present significant challenges to the quality and quantities of DNA and RNA that are available nonetheless I think they deserve some careful attention and we have some pilot projects that are approved now for this tissue type of preservation. I'll show some data next on mouse models of human cancers but these provide us some of the most important experimental models especially as we move into targeted therapies, vaccines and other aspects of human cancer care and so I think it's important to begin characterizing these within the TCGA landscape as well for that further downstream use. We also have initially agreed to go forward on projects to study rare tumor types and there will be more data or choices coming out of those soon but the notion here is that while you have smaller numbers of tissues available for study we will still continue to apply this comprehensive focus of assays and analysis that you've heard about in the last day and a half. As far as integration efforts for TCGA data with other projects that are ongoing there are two to mention and one is sort of an obvious mention which is integrating with the International Cancer Genomics Consortium so that we have a more global view of cancer if you will and I think there are well recognized population specific differences etc. across cancer types and I think this will be incredibly informative for everyone and expands the reach of TCGA data beyond the United States and Canada. And then lastly integration efforts which we heard about there was a coincident meeting going on here for CPTAC which is an NCI funded project to look at proteomics of cancer and what the proteomics folks are finding out is that if we know about the genomics of cancer that can be tremendously informative in proteomic investigations and of course this provides a very rich data set for these downstream proteomics efforts so there will be integration and interface between TCGA across several selected tumor types breast ovarian and colorectal moving into these funded CPTAC groups in proteomic investigation so I think that will be sort of like the gravy on the potatoes if you will. And so then I just wanted to say a couple of words about these specific areas so I was very honored to be named the chair of this mouse TCGA committee member by Dr. Varmas and this included several luminaries in the mouse models of human cancer listed here under me I'm not such a luminary but then Kenna was also the guiding force in keeping us all on track. And basically what we did was solicit information from the mouse models community on different models that were available for human cancer the results were overwhelming almost a hundred different types of cancer models were referred into us with information about them and I'm just listing the four here that we selected as a group for the initial look in this pilot project so they include a prostate cancer model that is a gem a genetically engineered model a melanoma model that is driven by a known carcinogen and then a non small cell lung cancer model another carcinogen driven model from urethane injection and then noting the incredible amount of samples and data that are coming out of human breast cancer studies in TCGA we selected several breast cancer models for mouse so we're underway with some of the nuts and bolts paperwork of getting these samples into the BCR identifying pathologists who understand what mouse tumors look like as opposed to human tumors the gratifying thing there is that there are a lot of veterinary pathologists out there who are keen to help out and so you'll see most of these hopefully moving into the new year as identified pilot projects for which data will be available and then I already mentioned sort of the nuts and bolts aspects of the CPT CPTAC interaction here and we sorted out some of the early details of that yesterday during a lunchtime meeting so I think that'll be an exciting new enterprise for TCGA data to play in so what are the next steps well first of all as an organizer I want to thank everybody for attending and for those last few of you here that are stayed on to the better end especially thank you for staying I think it's been a great interaction this week and we're looking forward to more certainly as a meeting organizer I would be low to suggest that that we can't make this meeting better so if you have ideas please provide those to myself Linda or to Kenna and her staff and just before the the last bullet point I also wanted to mention that putting conferences like this together as many of you know who have ever organized things are not straightforward enterprises there are lots of what ifs and last minute things that need to be paid attention to so in that regard could we please give a warm round of applause for not only the NCI and NHGRI staffs that were involved in the planning of this but also to capital consulting for excellent organization and while I'm at it to the outstanding audio visual staff at the back who advanced our slides for us OK and then lastly the big looming question is will we do this again absolutely I think that the response this time has been more than we anticipated and we'll look forward to seeing you again please look for timing and announcements for the second symposium and with that I will thank you and invite you to partake in lunch which is waiting outside thanks very much really really a successful meeting


In this topic, we are going to discuss a case study of repatriation and loss prevention at a company called ISCAM. Basically, this is a story of a person called Vane Balova who was serving as a loss prevention and safety director at ISCAM. ISCAM is a US based global mining engineering firm and Vane was sent on an international assignment as safety director in their mining business in Peru. He served there for three years and he has just recently returned after serving three years in Peru. Currently, he was repatriated back in Denver, the city of Denver, which is in America. This is a story about how he is feeling and what he is doing when he has been repatriated back to the home country. Today, which is the current situation, he has just resigned from his job in ISCAM and is going to start his own security firm. This is the context, this is the situation that he was a top level manager who was sent on an international assignment, served three years over there, came back and now after six months he resigned from the company and is planning to do his own business. Why did that happen? This is a story of repatriation and loss of the organization. So let's start from the expatriation process of Vane. The company did an excellent job of preparing the person and his family for the departure. So the pre-departure training was done very effectively. The children, they were admitted to American schools in Peru and they were very happy over there. His Mexican-born wife was also very much happy over there to be part of the local expatriate community as well as the church community. So for adjusting him there, the organization took very good steps and his family adjusted him very well three years ago when he moved to Peru on an international assignment. Vane himself was also very much happy because he was enjoying increased responsibility and centrality of his role. So when he did the international assignment, he was the center of attention. He had all the responsibility and he had the autonomy to make decisions and therefore he had more responsibility, more authority and he was more central in his role and he was enjoying all that. As an ex-army officer, he developed some counter-terrorism and security protocols and that was something which was really gratifying from him. He got a lot of sense of achievement from designing those counter-terrorism and security protocols to make sure that the organization's facilities and the mines in which they work, they were safe and protected and the employees were protected from threats of terrorism and other security problems. So he was also very happy but this was the process of expatriation. Now when he was repatriated back, what happened in that context? Repatriation back to America was a totally different thing. The organization has gone through one year after he left. The organization went through a major restructuring and the way things were done when he was there in U.S., the organization completely shifted to some new processes. Because of that restructuring, his mentor Herman Balking also resigned. The restructuring aftershocks relocated many close colleagues that he used to work with. Now because of that, what happened was that his liaison in the home country, it all vanished. His informal corporate intelligence network, it totally disappeared. Your informal network where you get to know people, which is very important to survive in any organization and to be successful. It all disappeared because most of his colleagues moved out of the state due to restructuring. Now his role with the liaison, it was passed to very junior staff who didn't know him. They didn't understand what he was talking about, nor his repertoire with him. So all this repatriation during these problems started to create when he was employed in the assignment. Now when he was repatriated back, when he actually returned back, the company's top management talked to him that the job we had thought for, that was nowhere to be found. And actually what happened was that on the return, he actually had to spend a lot of time looking for and getting a real office in his organization and getting an assignment which had some position, some job description. He had to actually wait for that and spend a lot of time getting those things for his assignment. And everyone had a different perspective about how things had to be done, which was quite frustrating for him. And he felt claustrophobic. Claustrophobic is that when you get stuck in a place and you don't breathe, that is something which is claustrophobic. This is something that he said that I feel claustrophobic because I can't breathe here. The protocols he developed with so much effort and he used to feel pride in that, those protocols were changed or were systematically ignored. So in such a situation, he felt very much diminished and his self-esteem was also heard that the protocols that he had developed, they were actually ignored. Now on the home front, he was also facing a lot of problems. The house that he bought was very expensive. When he was leaving, the HR had suggested that the house that he owns in America at that time, he should sell it. And now when he has come back, he had to purchase a house at a very high price, which was a real burden on him. It was in an area in which the government schools were not very satisfactory. So his kids were also having problems. He looked for private schools, but the private schools were very expensive. And his wife had also started complaining about the very cold weather of Denver because Peru is a moderate climate area and Denver is in a colder temperature zone. So his wife was also complaining. And that actually led to a talk with Balking, which was his mentor, that what should we do? So Balking, who had already resigned, he said that, well, maybe it's time to leave the company and because you have the professional expertise and I have a lot of context, so let's get together and start our own business. And so therefore, because of a poor management of this repatriation process, the company, just after six months of repatriation of Wayne, they had to lose him. He resigned and the company had to lose his professional expertise and experience. So this is the real story of a person who was actually very effectively expatriated, but very poorly repatriated back to the home country and therefore the organization had to face the loss of losing him.


The long-awaited Samsung Galaxy S8 has arrived at Appalachian Wireless. Get yours for the introductory price of just $149.99 with a two-year service agreement. Better service, bigger savings. That's today's Appalachian Wireless, an East Kentucky network company. In high school baseball, the 15th region tournament continues tonight from Pike Central with semifinal round action as well. In game one of the second round of the 15th region tournament, the Pike Central Hawks face off against the defending 15th region champions, Johnson Central. Getting the Eagles started on offense, Cody Rice hits a slow ground ball too short, with Jordan Blanton on third, allowing Blanton to score easily on the fielder's choice and putting the Eagles on the board first. Keeping the inning alive, Riley Priest is up to bad. He crushes the ball too deep center field and the ball tips off the glove. After a long run, this brings both Cody Rice and Blake to long home safely to extend the Eagles' lead. Johnson Central also flashed some leather on the defense run. Eads is in the box, he hits a line drive to Jordan Blanton who catches it in the air, then tags the runner diving back to second for the unassisted double play. The Eagles win it, 10-0 putting themselves in the championship match for another shot at the title. Pike Central ends their season at 21-17. In the nightcap for the 15th region tournament, the Shelby Valley Wildcats where the home team against the Painesville Tigers. The Tigers got things started by a big defensive play by Chris Gunter. He flies out to center field, Ty Riddle is caught too far off the bag and a strong throw from left field completes the double play. The Tigers now on offense looking to score with Seth Williams in the box. He gets a solid base hit to center allowing Ben Daniels to score from third who reached on a triple. And it looks like the Tigers will be in the championship game winning over Shelby Valley 12-1. They will play Johnson Central for a Johnson County matchup tomorrow evening at 7 from Pike Central High School in the 15th region baseball championship.


Hello and welcome to the Solaris Narrative, a series taking place in paradox interactive critically acclaimed 2016 strategy game. This very first part begins the tale of the Commonwealth of Man, at the very dawn of the 23rd century, with the advent of warp technology. But before we take to the stars there are a few tasks left at home that we have to take care of. Our physicist has decided to go after gravity sensors in the hopes that they will allow us to fast survey the system surrounding our own. Our society specialist has decided to go after New World Protocol, which will allow us to build colonieships in the hopes that once we have discovered a suitable world we can take over it. And our engineer has went after nanomechanics in the hopes that they will amplify the engineering output of our glorious Commonwealth. Now that we have gone over the scientific side of the equation, let us go back to surveying the system. On Mars, the Jagger discovered the remains of an ancient civilization that went by the name of the Cyborgs. The first evidence that humans are not alone in the universe. While the race seems to have been extinguished some 600,000 years past, that nonetheless eases the minds of the humans who have always felt that they may be alone in the galaxy. As an added benefit a further anomaly is discovered, however we don't currently have the technical expertise to unlock the mysteries hidden within these ruins. As is not too difficult to imagine, this leaves the human Commonwealth abuzz with the news of the discoveries on Mars. It was soon after that the Jagger at last tested the long sought after warped technology, the destination Bernard Star. As the Jagger warped towards the as of yet unexplored star system, Earth's long-distance sensors picked up on unknown signals by even more mysterious alien vessels. The news quickly got out, a second science ship was commissioned to investigate. Meanwhile Earth's population grew ever larger and so alterations in the planet's infrastructure were ordered. After disappointing failures in Bernard Star the serious system was a refreshing source of information and resources, the Jagger team leader discovered an anomaly. After investigating an automated shipyard of unknown origins was reactivated in order to create several advanced pieces of spacecrafts. Another discovery of importance later down the line happened in series 3, a world with near perfect habitability, sadly plagued by dangerous wildlife and thick jungles currently too difficult to remove. While such thoughts occupied the leaders of humanity, the Jagger finished its work on the shipyard, producing three exotic advanced vessels with greater military capability than the common world's admiralty. The following months were filled with a great degree of curiosities. In the Dabbe system a primitive alien civilization, still in its iron age was discovered. The Jagger was sent back to the soul system in order to finish the margin anomaly discovered a few years earlier. The research provided illuminating in terms of planetary habitability, further research still cost quite a lot of energy for the common world but it was pursued nonetheless. After the research on gravity sensors ran its course, the need for faster research in the future pulled the scientific directors and community of the common world towards their artificial intelligence research. Another cyborgs artifact was discovered, a destroyed refinery. The energy traces pointed the investigators aboard the research ship to the usage of antimatter weaponry from ages ago. Meanwhile the common world engineering corps forced by lobbyist interests went into researching gear-termal fracking. After a number of Green Party members protested the idea, they were put on a ship and fired into the sun. President Paul Meijos approval ratings nearly doubled. Funny how that works, haha. As the last Green Party members' words screamed, travelling towards the fiery doom that awaited them, the Jagger discovered an abandoned cargo port and managed to extract quite a few energy credits from it. A few months later, as a result of a number of discoveries, the common world put an important goal in front of humanity, to catalogue the planet types and strengthen efforts on habitable world surveys. Little did humans know, the galaxy would get very exciting very soon. Six years, ten months, four days, this is when humanity makes first contact with an alien species. And what do they look like? Ah, six-eyed mushrooms call the Aetisian troop. Ah yes, space artists. Thank you very much, we've got plenty of those already. Far more interesting is the infinity equation, a gigantic construction, a perfect sphere completely beyond anything the common world technology is capable of understanding. What secrets does it hold within? No one knows. At the end of the day, scientists kick back and put on some Dragon Ball Z, in the hopes that it could shine a new light on the mysterious Leviathan. As you might have guessed, that did not work and scientific research was lost for about 800 days. In the time it took to watch all of Dragon Ball Z from beginning to end.


Hello, and welcome to the session in which we would look at comprehensive income and reclassification adjustment at the same time. This recording would require some prerequisite from your end. It would require that you understand how to mark to market your investment and basic understanding of comprehensive income. Although I'm going to go over comprehensive income from zero, but if you already have some knowledge about comprehensive income, it will be helpful, although I will build a comprehensive income statement from scratch. I'm going to be using a single period example to simplify things, to show you in a single period what would happen, that I'm going to be using a multiple period example where you would see what's going on from period to period. Let's start with a simple example. Assume that on January 1st, 20X1, Adam had cash and common stock of 100,000. At that date, the company had no other assets liability or equity balance. We are starting a company and we invested $100,000 in this company. So on January 2nd, Adam purchased $100,000 of that classified as available for sale. Now the company took that $100,000 in cash and purchased that. And here's what happened. This is when we started the company. We only had a cash of a thousand, total asset of a thousand, common stock of a 100,000, total equity of a thousand. Then we used the cash to buy that investment. We still have assets of 100,000, equity of 100,000. On June 30th, Adam sold 40,000 of the available for sale securities, that portfolio for 42,000. What we did is we sold, remember we purchased 100,000 worth of that investment and in case you don't know how to do this, we debited investment 100,000. We credited cash 100,000. Now we sold 40,000. We're going to debit for 42,000. We're going to debit cash 42,000. We're going to credit the investment 40,000, which is this account here. And we're going to have a gain of 2000. That's the journal entry. Therefore, we sold them at 42, the cost is 40, the realized gain is 2000. Now of the 60,000, we have left 40,000 because we sold 40,000. We still have 60,000 worth of investment. Also what we did is we received $3,000 in interest revenue. Well, what's going to happen when you receive the interest revenue, we debit cash 3,000. We credit interest revenue 3,000 for the interest revenue. Here's what our income statement would look like. Our income statement would look, well, let's look at our portfolio first. Our portfolio at the end of the year would look something like this. We still have 60,000 of securities. Though 60,000 are worth today, the fair value is 64,000. Well, 60,000 cost, 64 fair value. We have an unrealized gain of 4,000. This is unrealized versus realized, which we sold. Now these are available for sale securities. We debit fair value adjustment, 4,000. We credit unrealized holding gain loss, equity. This is an equity account and simply it's again a 4,000. Now, if you don't know how I did this entry, if you are lost, stop, go to my available for sale debt securities and see how we market those investment to market because this is what I did. I increased my fair value by 4,000 and I recorded this. I recorded the gain and unrealized holding gain equity. My income statement would look something like this. I have 5,000 in total net income, 3,000 of interest revenue and 2,000 from the sale, the realized gain. Remember I sold those 40,000 worth of that for 42, I made a gain of 2,000. And this is what my statement of comprehensive income would look like. I'm going to have one statement for comprehensive income that included net income. So I'm going to start with net income, 5,000 plus other comprehensive income will include unrealized holding gain of 4,000. Remember my portfolio went up by 4,000. Remember I still have an investment for 60,000 and that investment went up to 64. Therefore, the 4,000 it's recorded in other comprehensive income, unrealized holding gain or loss. Now what happened to this 4,000? This 4,000 will be closed to accumulate other comprehensive income on the balance sheet. So this 4,000 will be closed. Simply put, I'll show you later how it's closed. Simply if you want to see this one, how we close this one. So how do we close this to accumulated other comprehensive income? We will debit. See what we do? We will debit unrealized holding gain slash loss equity of 4,000. And we credit accumulated other comprehensive income 4,000. So we credit AOCI and we'll see it later in a journal entry. But this basically is gone. It was a credit. We debited it and we moved it to OCI, which is a balance sheet account. Don't worry, we'll look at another entry soon. Now let's take a look at the statements of stockholders' equity. Just to kind of have a complete picture, we started with 100,000 of common stock. Nothing happened to our common stock. Net income, we generated net income of 5,000, which increases retained earning. Other comprehensive income, we have 4,000 from the increase in the value. Therefore, our common stock total is 100,000. Retained earnings total is 5,000. Other accumulated other comprehensive income is 4,000 because everything in unrealized holding gain or loss goes to accumulated other comprehensive income AOCI. Therefore, our total equity is 109, which is common stock of 100,000. Retained earnings of 5,000 and AOCI of 5,000. Now let's take a look at the balance sheet. At the end of the year, this is the original balance sheet. Basically, very clean, 100,000 in cash, 100,000 in common stock. Well, what's going to happen is this. Now we have 45,000 in cash, which is the 42,000 from the sale, plus the 3,000 of interest income. This is the value, the fair value of the investment, total of 109. We still have common stock of 100,000. Our retained earning went up by 5,000 in net income and we closed unrealized holding gain or loss to accumulated other comprehensive income on the balance sheet. Therefore, 109 equal to 109. This is what our balance sheet would look like by the end of the year. Simply put, all what I did is I worked very simple example to show you how comprehensive income is actually closed to AOCI on the balance sheet. The next thing I'm going to be discussing is a multiple period adjustment. Before we look at the multiple period adjustment, whether you are an accounting student or a CPA candidate, I would like to invite you to visit farhatlectures.com. I don't replace your CPA review course. I don't replace your accounting course. My motto is saving accounting students and CPA candidate one at a time. How? By providing new resources, lectures, multiple choice through false exercises that's going to complement and supplement your CPA preparation and your accounting courses. This is a partial list of my accounting courses. My CPA resources are aligned with your Becker, Roger, Gleam and Wiley. It's very easy to go back and forth between my material and your CPA review course. In addition to all my resources, I give you access to 1,500 previously released AICPA questions in their original format. In their original format, what does that mean? It means those are actual CPA questions that appeared on prior exams with detailed solution. I have a detailed solution for these questions because the AICPA don't provide those detailed solution. If you have not connected with me on LinkedIn, please do so. And take a look at my LinkedIn recommendation like this recording. Share it with other. It helps me a lot. Connect with me on Instagram. I'm trying to grow my following Facebook, Twitter and Reddit. Let's work an example to look at a multiple period adjustment. In a multiple period adjustment, we might have what's called double counting may occur. What is double counting? Double counting occur when you have an unrealized gain for a security that's sitting in comprehensive income. Then you sell the security and you have a gain that's reported in that income. So we should not have double counting. So we have to find a way to adjust the double counting. The best way to illustrate this is to take a look at an example. And we're going to have a portfolio of two bonds, Lenovo and AMC Robotics. Lenovo has a cost of 140, fair value of 165. AMC Robotics 220 is an amortized cost and 235 as fair value. All in all, we have an unrealized holding gain of 40,000. Again, we need to book this gain. We have no prior fair value adjustment. Once again, if you don't know how to do fair value, go back to my available for sale debt securities to find out how to do. So we're going to debit fair value adjustment, 40,000. Credit unrealized holding gain of 40,000. Now we have 40,000 of holding gain from this portfolio because we have 40,000 of holding gain. Now, this is what comprehensive income would look like. Assuming the company has 380,000 of net income, we're going to start with net income, then we're going to add other comprehensive income, which is unrealized holding gain of 40,000. Now, this is the entry. We're going to debit unrealized holding gain of 40,000 and credit accumulated other comprehensive gain. So what are we doing here? We are closing. We are closing. We are closing this gain. We are closing. Remember, I told you I'm going to show you the closing. Let me show you one more time. So look at this entry here. Look at this entry here. I debited fair value and I credited unrealized gain. You see, I'm going to have to close this unrealized gain. This unrealized gain has to go to AOCI. Okay, so this is what I did. So after I reported it on the comprehensive income, I transferred it to AOCI, accumulated other comprehensive income. And this is where it sits at the end of the balance sheet, at the end of the day. In AOCI on the balance sheet, I have 40,000 and I have 40,000 fair value adjustment. Therefore, my investment will be 200,000. Remember, I still have the AMC robotics plus the fair value. So this is the asset side. Okay, this is where the 40,000 fair value. And under my equity section, I will have AOCI and it will have 40,000. Obviously, this is a partial balance sheet. Let me show you what happened on a T-account. In a T-account, first thing I did is the starting point was I debited fair value and I credited unrealized holding gain or loss to book my 40,000 of unrealized holding gain. Then what I did is I closed unrealized holding gain. I debited unrealized holding gain. Now unrealized holding gain is zero and I transfer it to AOCI. And this is where it end up on the balance sheet. Now what I'm gonna do, I'm gonna sell my Lenovo for 165. Remember, the Lenovo had a cost of 140. I'm gonna sell it for 165. Let's do the journal entry. I'm gonna debit cash 165. I'm gonna credit my debt investment 140 and I'm gonna credit gain 25,000. So hold on a second. When I sold it on June 15, 20, X1, I recorded a gain. Now let me show you something. That Lenovo, that same stock, I already recorded a gain for it in equity. Where's the gain? Look, I had a gain the prior year. At the end of the prior year, I had a gain of 25,000 and that gain made it to unrealized holding gain and made it to the balance sheet. So I have 25,000 in OCI, unrealized holding gain. So let me just do this real quick. Let me, I need to change this. Change this. June 1st, X2, not X1, okay? June 15, X2. This is a year after I did it. So what do I have to do? I have to back out. I have to take out of unrealized holding gain on loss 25,000. So I will debit unrealized holding gain or loss 25,000, credit fair value adjustment. Why do I do this? Because at some point in the past, I showed you at the end of the year, I debited, I'm gonna abbreviate fair value adjustment, this account. I debited it in total 25 and I credited in total unrealized holding gain slash loss equity. I debited 40 and I credited 40 in total. Within this 40, I had 25,000 of gain for this stock, for Lenovo stock. Therefore, when I sold it, I recorded the gain of 25,000. Therefore, what do I have to do? I have to remove the gain that I booked earlier. Otherwise, then I'm showing my equity will go up by 50. Why? If I don't do so, the unrealized holding gain increase my equity by 25, then gain on the sale of the investment will increase my equity by 25. Well, that's not true. I only have 125. Therefore, I have to remove this old 25,000 that was part of the 40. Therefore, I did this, I removed it. So this portfolio would look like at the end of 20 X2. I still have the AMC Robotics Bond. They have a cost of 220, 220 amortized cost, fair value of 25. Therefore, the unrealized holding gain or loss a gain of 35,000. Now, the adjustment is 5,000. Let me show you how the adjustment is 5,000. If you remember, my fair value from the prior year was 40,000. I had a fair value, 40,000. Now I need to reduce it down to 35. Well, what do I need to do? This is my fair value adjustment. I need to credit this account 5,000. And by crediting this account 5,000, I debit, remember the corresponding is unrealized holding gain slash loss of 5,000. Now, don't worry, I'm going to show you this a little bit in detail. You're going to see, but your fair value is not really 4,000. Your fair value is something else. True. I'm going to show you this. I'm going to show you the adjustment in a moment. Let's assume Adam Company reported net income of 520,000 and 20 X2. So the statement of comprehensive income would look something like this. Net income minus the unrealized holding gain of 5,000, which is give us comprehensive income of 515. OK, again, what do I do with this 5,000? I will close it to OCI. So let me show you what really happened from a journal entry perspective, from a T account perspective, so you understand this full picture. Here's what we did. We started again with 40,000 fair value adjustment. This is year X1. Then what I did is in X1, I transferred the 40,000 to OCI from unrealized holding gain. Also, this was X1. Then when I sold my investment, if you remember, I removed out of fair value, I removed out of fair value, 25,000. I told you I have to move this. So I credited fair value and I debited, accumulated other comprehensive income. If you remember this one, I made the sale. The second entry was to take care of that. Now, so what happened is my balance at that point after I removed the 25,000, my balance was 15,000. My balance was 15,000. Then here comes the end of the year. By the end of the year, I needed a balance and my fair value of 35. Why? Because the portfolio, let's take a look at the portfolio. The portfolio has a gain of 35. Well, if I need 35 and I already have 15, what do I need to do? It means I need to debit my fair value 20. I need to credit my unrealized holding gain and loss 20 because this is how I adjust my portfolio. Well, this is what I do. And once I adjust my portfolio, my balance is 35. Again, what do I need to do? This 20,000 that I X2 adjusting, X2 adjustment will need to be close to OCI because remember, unrealized holding gain goes to OCI. So on X2, I'm gonna debit unrealized holding gain and credit OCI X2. So I moved this 20,000, so basically this account goes down to zero and I moved it to here. Now I have, notice I have 35 in other comprehensive income, 35 in fair value adjustment and this is exactly what I need. So notice where the 5,000 fits. If you look at, if everything all said and done, let me highlight it in a different color, you would see that my adjustment of, now you're gonna see where my adjustment of 5,000 came from, look. I debited, I debited 25, I credited 20, therefore the net, what's the net? The net is a debit of 5,000. This is the net, the net is five and I did the same thing here. I credited 25, I debited five, the net is credit of five and this is the adjusting entry that I told you the 5,000. I debited OCI and I credited fair value adjustment. Look, this is what I did here. I credited fair value adjustment and I debited unrealized holding gain or loss. It doesn't matter, why? Because this is gonna be, I'm gonna close this. This is gonna be close to OCI. So I'm gonna debit this and credit, I'm sorry, I'm gonna credit this and debit OCI, okay? So eventually what happened to this is this transfer to debit to AOCI. So I debited OCI and I credited fair value adjustment and this is what happened from a journal entry perspective. Now keep in mind, you don't touch the gain. The gain that goes on the income statement, you don't touch it. This is the gain that stays with us. We needed to remove the gain that was sitting in OCI, which we did. After all said and done, what's gonna happen is this, at the end of December 31st, 20X2, Adam Company will have a debt investment of 255, reported at cost 220 plus the fair value adjustment and accumulated other comprehensive income of equity of 35. We already saw this. And remember this entry that we made? Now we need to close it. We're gonna transfer the 5,000 to OCI. Therefore, we debit 5,000, this account to get rid of it and we debit accumulated other comprehensive income of 5,000. What should you do now? You should go to farhatlectures.com, work additional MCQs and look at additional resources that's gonna help you master this topic. Don't shortchange yourself. Whether you are an accounting student or a CPA candidate, my resources can help you do better. Good luck, study hard and of course, stay safe.


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