Technology
India’s Oyo acquires Motel 6 for $525M
One of India’s largest startups, budget hotel company Oyo, has reached a deal to acquire G6 Hospitality, which operates Motel 6.
Oyo says it will pay Blackstone Real Estate $525 million in an all-cash transaction. The acquisition also includes the Studio 6 extended stay brand and is expected to close in the fourth quarter of this year.
The Indian startup opened its first U.S. location in 2019 and now operates more than 320 hotels across 35 states. Oyo is dramatically expanding its North American footprint by acquiring Motel 6 — arguably the best-known budget hotel brand in the country, with a franchise network of around 1,500 locations in the United States and Canada.
“This acquisition is a significant milestone for a startup company like us to strengthen our international presence,” said Oyo International CEO Gautum Swaroop in a statement. He added that Motel 6 will “continue to operate as a separate entity.”
Founded in 2012, SoftBank-backed Oyo’s was valued at $10 billion in 2019, but has struggled in recent years due to pandemic-related challenges, as well as criticism over practices such as offering rooms from unavailable or unlicensed hotels.
Over the summer, TechCrunch reported on a new funding round that saw the company’s valuation fall to $2.5 billion — less than its total capital raised. (Oyo has denied reporting about its lowered valuation.)
Motel 6, meanwhile, was founded in 1962. It popularized the budget hotel concept (rooms originally cost $6 a night) and was eventually acquired by Blackstone for $1.9 billion in 2012.
Technology
The best Apple iPhone 16 Pro Max cases for 2024
Apple has announced its iPhone 16 lineup. Once again, the iPhone 16 Pro Max is the flagship model, offering users everything Apple has to offer on a smartphone in the largest size.
The phone boasts the largest display ever on an iPhone — 6.9 inches — with smaller bezels. It largely retains the familiar design of previous iPhone Pro Max models while introducing some new features.
For example, the iPhone 16 Pro Max now includes a dedicated Camera Capture button and enhanced camera features for both photos and videos. There’s also a new A18 Pro chip inside that’s said to be more efficient than previous versions, providing more battery life and smoother performance. The phone is also available in a new color called Desert Titanium.
However, all these features come with a cost. The least expensive iPhone 16 Pro Max is priced at $1,199, so it makes sense to protect your investment with a case. Check out our favorite options below.
Ted Baker Scattered Flowers Mirror Folio Case
The best fashion-focused iPhone 16 Pro Max case
OtterBox iPhone 16 Pro Max Defender Series
Best alternative rugged iPhone 16 Pro Max case
Spigen Optik Armor MagFit Case
The best iPhone 16 Pro Max case to protect the cameras
The eclectic mix of SUPCASE iPhone 16 Pro Max cases provides you with a variety of options, all fantastic, all with military-grade protection, all with extra features to make your daily experience better. From the Unicorn Beetle Mag stand, which includes a built-in Camera Control button, to the Unicorn Beetle Pro with its built-in kickstand and rotating belt clip holster, you’ve never seen better options. You’ll benefit from full-body drop protection, elevated bezels to protect the display, and MagSafe support. You have everything you need at your fingertips — just like Apple intended. From now until October 9, on Amazon you can enjoy 10% off on iPhone 16 series cases.
UAG Plasma XTE Case
The best overall iPhone 16 Pro Max case
Pros
- Lots of color combinations
- Lightweight
- Built-in kickstand
Cons
- Pricier than many other options
The UAG Plasma XTE case is a protective phone case designed to offer a combination of sleek design and robust protection. It provides impact resistance, an integrated kickstand, and MagSafe compatibility, all within a slim and lightweight profile.
Overall, the UAG Plasma XTE case is an excellent option for users seeking a protective case that doesn’t compromise style or functionality. It will cost you, however, as it’s one of the more expensive iPhone 16 Pro Max cases on the market.
UAG Plasma XTE Case
The best overall iPhone 16 Pro Max case
Torras Magnetic Shockproof Case
The best cheap iPhone 16 Pro Max case
Pros
- Priced right
- Three color options
- Slim and lightweight
Cons
- Other cases will provide better protection
The Torras Magnetic Shockproof Case is designed to provide robust protection and magnetic functionality for iPhones. It offers slim, lightweight, and shockproof protection. The case features built-in magnetics for seamless attachment to MagSafe accessories, allowing for convenient wireless charging and mounting options.
Available in black, blue, and gray, this reasonably priced case is an excellent choice for those looking for a blend of protection, style, and magnetic functionality for their iPhone.
Torras Magnetic Shockproof Case
The best cheap iPhone 16 Pro Max case
Ted Baker Scattered Flowers Mirror Folio Case
The best fashion-focused iPhone 16 Pro Max case
Pros
- Unique book-style case
- Wireless charging compatible
- Magnetic closure
For a stylish option, take a look at this impressive case from Ted Baker. It has an electroplated polycarbonate shell that provides both protection and a sleek look. The case is also wireless charging compatible, allowing for convenient charging. It features a magnetic closure for added security and ease of use.
The unique book-style flip case also includes a built-in mirror, making it both functional and fashionable. Keep in mind that this kind of style does come with a slightly higher cost.
Ted Baker Scattered Flowers Mirror Folio Case
The best fashion-focused iPhone 16 Pro Max case
Spigen Ultra Hybrid Case
The best clear iPhone 16 Pro Max case
Pros
- Super price
- Anti-yellowing tech
- Offers Air Cushion technology
Cons
- More durable options exist
The Spigen Ultra Hybrid Case is a popular phone case known for its blend of protection and minimalist design. It features a clear, rigid polycarbonate back combined with a flexible TPU bumper, offering both impact resistance and grip. The case has a slim profile and a raised bezel to protect your screen and camera.
Spigen’s Air Cushion Technology is integrated into the corners for enhanced shock absorption during drops. To maintain clarity over time, the case’s clear back panel is treated with an anti-yellowing coating. It’s important to note that this version doesn’t support MagSafe, but Spigen offers models that do.
Spigen Ultra Hybrid Case
The best clear iPhone 16 Pro Max case
If you’re tired of massive brick-like phone cases, then it’s time to ditch the bulk and check out Latercase. They’re reinventing the game with their ultra-thin aramid fiber cases. Every Latercase is precision-engineered and laser-cut to perfection. The result? An ultra-thin case with a timeless style. The durable matte finish feels even better than it looks, allowing you to carry it with confidence and pocket it with ease. Latercase also offers bundle deals with their case, so you can pair it with premium tempered glass, strong maglock rings, or soft microfiber cleaning cloths. Either way, your new iPhone will thank you.
i-Blason Armorbox
The best protection
Pros
- Rugged, military-grade protection
- 20-foot drop protection
- Built-in screen protector and kickstand
- Camera control button compatible
Want a super protective military-grade and drop-tested case for your new iPhone 16 Pro Max? i-Blason’s MagSafe-compatible Armorbox should be your first choice. It comes with a built-in screen protector, so you don’t need anything extra, plus it has a built-in camera cover that doubles as a kickstand.The zinc alloy anodized camera cover protects the high-power lenses on the back of the phone.The most unique feature on the Armorbox is the built-in camera control button which utilizes copper conductors to seamlessly match the operations of the unique button. It’s rugged through and through so it’ll survive a 20 foot drop.
Even with that protection it’s not bulky, it’s not ugly, and it works with so many different MagSafe accessories because of its powerful N52 magnet. For example, you can still mount your phone to a hands-free car adapter, even while it’s still in the case.
From now until October 9, on Amazon you can enjoy 10% off on iPhone 16 series cases.
i-Blason Armorbox
The best protection
Caseology Dual Grip Mag Case
The best grippy iPhone 16 Pro Max case
Pros
- Unique look
- MagSafe
- Excellent price
Cons
- Design isn’t for everyone
The Caseology Dual Grip Mag case is a stylish and protective phone case designed for the iPhone 16 Pro series. It combines a sleek design with features that enhance both grip and protection. The case features a dual-layer construction for superior protection against drops and impacts, and it offers MagSafe compatibility, as well as military-grade drop protection.
This case is an excellent option for anyone seeking a stylish and protective case for their phone. It’s available in Cobalt Blue, Jade Green, and Onyx Black.
Caseology Dual Grip Mag Case
The best grippy iPhone 16 Pro Max case
GVIEWIN iPhone 16 Pro Max Case
Best budget iPhone 16 Pro Max case
Pros
- Cheap
- Various floral styles
- Includes screen and lens protectors
Cons
- Other cases provide better protection
The GVIEWIN iPhone case is a stylish and protective case known for its floral patterns and shock-resistant features. It is made of flexible TPU material, providing a good balance of protection and slimness. Available in multiple styles, our pick for the best budget case also comes with a tempered glass screen protector, lens protectors, and a magnetic ring.
GVIEWIN iPhone 16 Pro Max Case
Best budget iPhone 16 Pro Max case
Mous Super Thin Case
The best thin iPhone 16 Pro Max case runnerup
Pros
- Five color choices
- Incredibly thin
- Supports MagSafe
The Mous Super Thin Case is an incredibly slim and lightweight phone case designed to offer a balance between protection and aesthetics. These cases are well-known for their minimalist design and MagSafe compatibility. Sleek and unobtrusive, the case is available in five colors at launch, as well as a clear version. Despite its thin profile, the case is engineered with durable materials and clever construction to provide protection against everyday bumps and scratches.
The Mous Super Thin case is perfect for users who prioritize a minimalist aesthetic and MagSafe compatibility, but don’t require heavy-duty protection for their phones.
Mous Super Thin Case
The best thin iPhone 16 Pro Max case runnerup
Case-Mate iPhone 16 Pro Case
The best sparkly iPhone 16 Pro Max case
Pros
- The beautiful choice
- Lots of unique styles
- 12-foot drop protection
If you’re looking to add some sparkle to your iPhone 16 Pro Max, this Case-Mate case might be the one for you. It comes in various styles, offers 12-foot drop protection, is MagSafe compatible, and is made from recycled materials, making it eco-friendly. The premium materials used provide long-term protection and keep your phone looking new.
At launch, you can choose from seven case options, including Karat Granite, Soap Bubble, and Touch of Pearl. There’s nothing not to love about this case, although the price is a bit high. However, you may be able to find it on sale sometimes.
Case-Mate iPhone 16 Pro Case
The best sparkly iPhone 16 Pro Max case
Totallee Clear Ultra Slim Case
The best thin iPhone 16 Pro Max case
Pros
- Thin … Ultra thin
- Various color choices
- Showcases the phone’s look
Cons
- Doesn’t provide protection
Totallee cases are famous for their extreme thinness and minimalistic design, and the one for the all-new iPhone 16 Pro Max is no exception. They prioritize showcasing the original look of your phone while providing basic protection against scratches and minor bumps. The lightweight case is branding-free and comes in a variety of colors and finishes. However, the biggest downside is that the case doesn’t offer much protection.
Totallee Clear Ultra Slim Case
The best thin iPhone 16 Pro Max case
Mujjo Full Leather Phone Case
Best leather iPhone 16 Pro Max case
Pros
- Full-grain vegetable tanned-leather
- Beautiful crafted
- Minimalist design
Cons
- Not a lot of drop protection
Mujjo leather cases for iPhones are renowned for their premium full-grain vegetable-tanned leather, minimalist design, and meticulous attention to detail. They provide a blend of style, functionality, and protection for your iPhone. The cases are designed to be slim and lightweight, adding minimal bulk to your iPhone. Mujjo cases are crafted with precision to ensure a snug and secure fit for your specific iPhone model. There’s also a version that includes a wallet.
Mujjo Full Leather Phone Case
Best leather iPhone 16 Pro Max case
Latercase Premium Aramid Case
Best aramid fibers iPhone 16 Pro Max case
Pros
- Strong and thin
- Great color choices
- Made from aramid fibers
Looking for a slim case for your iPhone 16 Pro Max that provides excellent protection? Consider Latercase. This case is made from premium aramid fibers and is available in various colors, including Coffee, Crimson, Midnight, Willy Blue, and classic Black. It’s only 0.6mm thin and weighs just 11 grams. This impressive case is MagSafe compatible, offers enhanced camera protection, and more.
Latercase Premium Aramid Case
Best aramid fibers iPhone 16 Pro Max case
OtterBox iPhone 16 Pro Max Defender Series
Best alternative rugged iPhone 16 Pro Max case
Pros
- Another great rugged choice
- Comes in various colors and designs
- Includes built-in magnetic snap
The OtterBox Defender Series is well-known for providing excellent protection against drops, bumps, dust, and scratches. It consists of a hard polycarbonate inner shell and a thick silicone outer layer. This series is a popular choice for individuals working in demanding environments or those prone to dropping their phones. It’s certainly on the more expensive side where cases are concerned, but it’s one that’s worth the investment.
OtterBox iPhone 16 Pro Max Defender Series
Best alternative rugged iPhone 16 Pro Max case
Pelican Shield iPhone 16 Pro Max Case
The best rugged iPhone 16 Pro Max case
Pros
- Four layers of protection
- Includes holster and kickstand
- Various colors available
The Pelican Shield case offers top-notch protection with its multiple layers of hard polymer and soft rubber coverage. It comes with a belt clip holster and a kickstand for added convenience. The anti-scratch coating ensures that your iPhone 16 Pro Max case stays looking new for longer, and the raised edges protect the camera and screen. It provides 21-foot military-grade drop protection. Again, it’s on the more expensive side.
Pelican Shield iPhone 16 Pro Max Case
The best rugged iPhone 16 Pro Max case
Spigen Optik Armor MagFit Case
The best iPhone 16 Pro Max case to protect the cameras
Pros
- Protects rear camera system
- Good price
- Unique look
The Spigen Optik Armor MagFit case is designed to protect your phone and its camera lenses. Its key feature is a sliding camera protector that shields the lenses when not in use, while still allowing easy access for taking photos or videos. The case also provides military-grade protection against drops and bumps, and has raised edges to protect the screen and camera lenses from scratches.
Spigen Optik Armor MagFit Case
The best iPhone 16 Pro Max case to protect the cameras
Technology
Google teases iPhone on finally using RCS messaging with Pixel devices
Google has welcomed Apple iPhones to the world of Rich Communication Services (RCS) with a humourous video. The company released a video of a Pixel and an iPhone chatting about Apple’s historic decision to adopt RCS.
Google Pixel and iPhone communicate on RCS platform
Ever since the first iPhone, Apple attempted to create a different class with iMessages. iMessage and Android’s messaging platforms weren’t truly compatible. Apple often degraded the messaging experience whenever iOS detected an Android device was communicating with an iPhone.
Apple hasn’t exactly blurred this division by adopting RCS. However, the company now allows third-party app store support, third-party NFC payments (in the EU), and RCS texting.
As part of Google’s #BestPhonesForever series on YouTube, the search giant has reportedly welcomed Apple’s decision to finally adopt RCS. In the video, a Google Pixel and an Apple iPhone talk about how the two have had “communication issues” in the past.
Google Pixel appreciates the iPhone finally deciding to switch to RCS in the video. However, Google doesn’t miss the chance to reiterate that RCS is the modern standard for texting that other phones have been using for a while.
Why is Google teasing Apple about adopting RCS?
Android devices far outnumber iPhones, at least outside the US. And Google had been trying hard to establish a common messaging platform between the two mobile operating systems.
Apple’s iMessage has its own merits. However, RCS is equally secure and reliable. By adopting RCS, Apple has unlocked the ability to send much higher-quality media between Android and iOS. Some of the other benefits of using a common communication platform are:
- Typing and “read” receipts
- Improved group chats
- Reacting to texts
- Sending GIFs
Additionally, being on the same messaging platform allows messages to be end-to-end encrypted. It is important to note that encrypted RCS chats aren’t available on iOS yet.
Incidentally, third-party messaging platforms like WhatsApp, Telegram, and others offer end-to-end encryption. Hence, by introducing RCS to iOS, Apple has benefitted users in regions where users don’t primarily use third-party apps for messaging.
Due to Apple’s iMessage, the “Green Bubble, Blue Bubble” implies a clear demarcation between iOS and Android. Strangely, this distinction hasn’t been eliminated. Although Apple’s iOS now accepts messages from the RCS platform, the blue bubble and green bubble remain, and it still distinguishes Android users in a chat.
Technology
Pinecone launches serverless vector database on Azure, GCP
Pinecone on Tuesday launched its serverless vector database on Microsoft Azure and Google Cloud in a move that enables customers to use the fully managed database on the cloud of their choice.
The vendor first unveiled Pinecone Serverless in January, at which point the platform was only available in public preview on AWS. Now, after being made generally available on AWS in May, the platform’s general availability on all three major public clouds is a significant step for Pinecone in terms of expanding its reach and letting users choose their deployment environment, according to Kevin Petrie, an analyst at BARC U.S.
Pinecone Serverless is a rearchitected version of Pinecone’s vector database designed to remove some of the infrastructure management costs associated with cloud computing. Serverless computing platforms automatically scale up or down based on demand, which can lead to savings with Pinecone charging customers based on consumption.
Meanwhile, by expanding the platform’s availability to the three major public clouds, Pinecone is now making those potential savings available to all customers.
Kevin PetrieAnalyst, BARC U.S.
“This is an important step to take,” Petrie said. “Any viable data platform in this space should run on all three hyperscalers’ infrastructure. Most cloud adopters use more than one hyperscaler, and the more they can standardize tools across clouds, the better.”
In addition to making Pinecone Serverless generally available on the three major public clouds, Pinecone unveiled new features for the platform. They include enabling users to more efficiently import large amounts of data and better protect data from system failures and accidental deletes, among others.
Based in New York City, Pinecone is a vector database specialist whose tools enable customers to store and operationalize unstructured data that can be used to train analytics models and applications, including generative AI (GenAI).
The vendor raised $100 million in April 2023 as vector search emerged as a key enabler of generative AI development. To date, the 2019 startup has raised $138 million.
Cloud expansion
Vector databases are nothing new, dating back to the early 2000s. However, their popularity has surged over the past couple of years in concert with the exploding interest in generative AI.
Enterprise generative AI applications need to be trained on proprietary data to understand the company and accurately respond to queries about its operations.
While traditional structured data provides some of that needed proprietary information, it’s estimated to make up less than 20% of all data. Therefore, for a generative AI application to have a full understanding of an organization and deliver the most accurate results possible, the more than 80% of its data that is unstructured — text, images, audio files, videos — also needs to be part of the AI’s training.
Vectors, which are numerical representations of data, are a means of giving structure to unstructured data so that it can be searched and discovered to train generative AI.
Pinecone is one vector database specialist whose tools now can be used to develop the data pipelines that train and update generative AI models. Chroma and Redis are among the other vector database specialists, while data platform vendors including AWS, Databricks, Google and Oracle also provide vector database capabilities as part of their broad offerings.
Pinecone’s vector database capabilities measure up well against those of its peers, according to Stephen Catanzano, an analyst at TechTarget’s Enterprise Strategy Group. With Serverless now on more than one cloud, the vendor can better compete for market share.
“[Pinecone is] very innovative and at the front of what’s happening in GenAI, specifically around helping companies take their enterprise data and build new GenAI apps,” Catanzano said. “They’re very popular for this and for building out tools to make it simple. Being on each cloud, where a customer’s data for these applications lives, is an accelerator for their business.”
Pinecone Serverless is available in Starter, Standard and Enterprise versions. The Starter version — which is free to use — is the most basic, with only community support and topping out at 2 GB storage. The Enterprise version is the most elaborate and includes enhanced support over the Standard version.
Pinecone does not publicize pricing for its Enterprise version, but Pinecone Standard costs $0.00045 per gigabyte, per hour for storage and starts at $8.25 per 1 million read units and $2 per 1 million write units.
By starting with general availability only on AWS before expanding it to Azure and Google Cloud, Pinecone was able to use its initial launch of Serverless as a learning experience to work out any problems before making the database more broadly available, according to Jeff Zhu, the vendor’s director of product management.
Major architectural overhauls risk falling short of customer expectations around quality and reliability, he noted. As a result, Pinecone attempted to ensure there was no decrease in the quality and reliability of its database before making it available on all three major public clouds.
“We focused our efforts on making a single cloud 100% production-ready, and then took those learnings to accelerate the production readiness of the remaining clouds,” Zhu said.
Beyond making Serverless generally available on Azure and Google Cloud, Pinecone introduced bulk imports from object storage to simplify large-scale data ingestion and backups for data stored in Pinecone Serverless. The backups, now available to Standard and Enterprise users, include protection from system failures and accidental deletes, and the ability to restore data indexes to their previous state in the event of a bad update or delete.
In addition, new role-based access control capabilities limit who within an organization can execute certain tasks within Pinecone Serverless.
While useful, the new features don’t represent significant innovation, according to Petrie.
“These features are incremental improvements,” he said.
Bulk imports accelerate the data migrations needed to feed generative AI applications, while access controls help allay security concerns, Petrie noted. But there’s still more Pinecone could do to enable generative AI development, such as add more embedding models to transform unstructured data into vectors.
“That process is not trivial,” Petrie said.
The impetus for developing the new features, meanwhile, came largely from customer feedback, according to Zhu.
With interest in developing AI applications — including generative AI — surging, users of all data management platforms are experiencing new challenges in their attempts to build accurate and secure tools. Among them are efficiently moving large amounts of data and protecting data once it’s in position to train an application.
“These features address some of the top challenges we’ve heard from our customers,” Zhu said.
Future plans
With Pinecone Serverless now generally available on all three major public clouds and new features in the pipeline, Pinecone aims to expand beyond its limited focus on vector databases, according to Zhu.
Developing AI applications requires more than just a vector database, so the vendor is building features such as a GenAI-powered assistant and model ranking and inference capabilities that are designed to enable better data discovery during development.
“We’re working hard to provide a composable platform for developers to rapidly build, deploy and iterate on AI by providing high-quality RAG [retrieval-augmented generation] components in a single place,” Zhu said.
While providing RAG components with a vector database has benefited Pinecone, expansion could provide the vendor with growth opportunities, according to Petrie.
RAG in conjunction with vectors is only one means of feeding generative AI models. Relational databases and graph databases also enable searches and can feed RAG pipelines as generative AI evolves to include more model types and increasingly benefits from diverse data formats.
“Given this convergence of model and data types, Pinecone should branch beyond just vectors,” Petrie said. Knowledge graphs and SQL queries of tabular data represent still other opportunities for diversification, he added.
Catanzano, meanwhile, said Pinecone is providing innovative vector database capabilities that compare favorably with those being developed by competing vendors. Its roadmap, which could include more diversification, should also maintain its focus on being creative to retain its position relative to other vector databases, he said.
“They are doing a great job innovating and leading,” Catanzano said. “I’m not sure what may be next, but [they should concentrate on] keeping up with and exceeding competitors.”
Eric Avidon is a senior news writer for TechTarget Editorial and a journalist with more than 25 years of experience. He covers analytics and data management.
Technology
A house haunted by AI and the mysterious murder of a superhero
New releases in fiction, nonfiction and comics that caught our attention.
An agoraphobic engineer named Henry spends his days locked away in his extremely smart home building freaky little robots, including one that looks like a magician and rides around on a tiny bike. His wife, Lily, is the only person he really ever sees, but things have grown tense between them — a situation only worsened by the fact that he’s usually holed up alone in the attic working on a secret project. One day, Lily invites some former coworkers over to encourage Henry to socialize, and Henry takes the opportunity to finally show off his greatest creation: William, an advanced AI system housed in a crude robot body. Horror ensues.
Mason Coile’s William (stylized W1LL1AM) takes the well-worn trope of a naive creator faced with their out-of-control creation and adds haunted smart-house creepiness, with a twist ending. Naturally, it’s drawn comparisons to Frankenstein and even The Shining, but I’d dare to say there’s a hint of Demon Seed in there, too. This is another short read, coming in at under 250 pages, and it’s just the right thing to get you into the spooky season mood. It takes place, appropriately, on Halloween.
Elon Musk’s acquisition of Twitter and its subsequent transformation into X as we now know it dominated headlines for months, so you couldn’t be blamed for feeling like you’ve heard all there is to know about the whole saga. But for those who do want a deeper look into how it all transpired, journalists Kate Conger and Ryan Mac have dredged up a ton of previously unreported information in their book Character Limit, which pulls from interviews with insiders and internal recordings from the rooms where it all went down to give us the full story of Twitter’s takeover. And it is a messy one.
I can’t think of another new series in recent memory that’s left me so hungry for the next issue as The Tin Can Society #1. Before I get into it, though, I should note that this first issue opens with a content warning about violence and discussions of ableism and racism. It is intense from the jump. The Tin Can Society begins with a crime scene: tech mogul turned superhero Johnny Moore has been murdered.
Moore, born with spina bifida, rose to fame as the genius creator of advanced exoskeleton-style mobility aids, and he wore a full-body armored version of one of these suits while operating as the vigilante hero, Caliburn. When he’s found dead, the suit is gone. The Tin Can Society follows Moore’s childhood friends, who come together after years apart to get to the bottom of his murder. There’s a lot of heart in the first issue as it bounces between their present-day setting and the past, building out the backstory of Moore’s early life and the tight-knit friend group that once was. I’m excited to see where this one goes. The Tin Can Society will be a nine-part mini series, and the next issue drops in late October.
Technology
‘Harvest now, decrypt later’: Why hackers are waiting for quantum computing
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Hackers are waiting for the moment quantum computing breaks cryptography and enables the mass decryption of years of stolen information. In preparation, they are harvesting even more encrypted data than usual. Here is what businesses can do in response.
Why are hackers harvesting encrypted data?
Most modern organizations encrypt multiple critical aspects of their operations. In fact, about eight in 10 businesses extensively or partially use enterprise-level encryption for databases, archives, internal networks and internet communications. After all, it is a cybersecurity best practice.
Alarmingly, cybersecurity experts are growing increasingly concerned that cybercriminals are stealing encrypted data and waiting for the right time to strike. Their worries are not unfounded — more than 70% of ransomware attacks now exfiltrate information before encryption.
The “harvest now, decrypt later” phenomenon in cyberattacks — where attackers steal encrypted information in the hopes they will eventually be able to decrypt it — is becoming common. As quantum computing technology develops, it will only grow more prevalent.
How ‘harvest now, decrypt later’ works
Quantum computers make the “harvest now, decrypt later” phenomenon possible. In the past, encryption was enough to deter cybercriminals — or at least make their efforts pointless. Unfortunately, that is no longer the case.
Whereas classical computers operate using binary digits — bits — that can either be a one or a zero, their quantum counterparts use quantum bits called qubits. Qubits can exist in two states simultaneously, thanks to superposition.
Since qubits may be a one and a zero, quantum computers’ processing speeds far outpace the competition. Cybersecurity experts are worried they will make modern ciphers — meaning encryption algorithms — useless, which has inspired exfiltration-driven cyberattacks.
Encryption turns data, also known as plaintext, into a string of random, undecipherable code called ciphertext. Ciphers do this using complex mathematical formulas that are technically impossible to decode without a decryption key. However, quantum computing changes things.
While a classical computer would take 300 trillion years or more to decrypt a 2,048-bit Rivest-Shamir-Adleman encryption, a quantum one could crack it in seconds, thanks to qubits. The catch is that this technology isn’t widely available — only places like research institutions and government labs can afford it.
That does not deter cybercriminals, as quantum computing technology could become accessible within a decade. In preparation, they use cyberattacks to steal encrypted data and plan to decrypt it later.
What types of data are hackers harvesting?
Hackers usually steal personally identifiable information like names, addresses, job titles and social security numbers because they enable identity theft. Account data — like company credit card numbers or bank account credentials — are also highly sought-after.
With quantum computing, hackers can access anything encrypted — data storage systems are no longer their primary focus. They can eavesdrop on the connection between a web browser and a server, read cross-program communication or intercept information in transit.
Human resources, IT and accounting departments are still high risks for the average business. However, they must also worry about their infrastructure, vendors and communication protocols. After all, both client and server-side encryption will soon be fair game.
The consequences of qubits cracking encryption
Companies may not even realize they have been affected by a data breach until the attackers use quantum computing to decrypt the stolen information. It may be business as usual until a sudden surge in account takeovers, identity theft, cyberattacks and phishing attempts.
Legal issues and regulatory fines would likely follow. Considering the average data breach rose from $4.35 million in 2022 to $4.45 million in 2023 — a 2.3% year-over-year increase — the financial losses could be devastating.
In the wake of quantum computing, businesses can no longer rely on ciphers to communicate securely, share files, store data or use the cloud. Their databases, archives, digital signatures, internet communications, hard drives, e-mail and internal networks will soon be vulnerable. Unless they find an alternative, they may have to revert to paper-based systems.
Why prepare if quantum isn’t here yet?
While the potential for broken cryptography is alarming, decision-makers should not panic. The average hacker will not be able to get a quantum computer for years — maybe even decades — because they are incredibly costly, resource-intensive, sensitive and prone to errors if they are not kept in ideal conditions.
To clarify, these sensitive machines must stay just above absolute zero (459 degrees Fahrenheit to be exact) because thermal noise can interfere with their operations.
However, quantum computing technology is advancing daily. Researchers are trying to make these computers smaller, easier to use and more reliable. Soon, they may become accessible enough that the average person can own one.
Already, a startup based in China recently unveiled the world’s first consumer-grade portable quantum computers. The Triangulum — the most expensive model — offers the power of three qubits for roughly $58,000. The two cheaper two-qubit versions retail for less than $10,000.
While these machines pale in comparison to the powerhouse computers found in research institutions and government-funded labs, they prove that the world is not far away from mass-market quantum computing technology. In other words, decision-makers must act now instead of waiting until it is too late.
Besides, the average hacker is not the one companies should worry about — well-funded threat groups pose a much larger threat. A world where a nation-state or business competitor can pay for quantum computing as a service to steal intellectual property, financial data or trade secrets may soon be a reality.
What can enterprises do to protect themselves?
There are a few steps business leaders should take in preparation for quantum computing cracking cryptography.
1. Adopt post-quantum ciphers
The Cybersecurity and Infrastructure Security Agency (CISA) and the National Institute of Standards and Technology (NIST) soon plan to release post-quantum cryptographic standards. The agencies are leveraging the latest techniques to make ciphers quantum computers cannot crack. Firms would be wise to adopt them upon release.
2. Enhance breach detection
Indicators of compromise — signs that show a network or system intrusion occurred — can help security professionals react to data breaches swiftly, potentially making data useless to the attackers. For example, they can immediately change all employees’ passwords if they notice hackers have stolen account credentials.
3. Use a quantum-safe VPN
A quantum-safe virtual private network (VPN) protects data in transit, preventing exfiltration and eavesdropping. One expert claims consumers should expect them soon, stating they are in the testing phase as of 2024. Companies would be wise to adopt solutions like these.
4. Move sensitive data
Decision-makers should ask themselves whether the information bad actors steal will still be relevant when it is decrypted. They should also consider the worst-case scenario to understand the risk level. From there, they can decide whether or not to move sensitive data.
One option is to transfer the data to a heavily guarded or constantly monitored paper-based filing system, preventing cyberattacks entirely. The more feasible solution is to store it on a local network not connected to the public internet, segmenting it with security and authorization controls.
Decision-makers should begin preparing now
Although quantum-based cryptography cracking is still years — maybe decades — away, it will have disastrous effects once it arrives. Business leaders should develop a post-quantum plan now to ensure they are not caught by surprise.
Zac Amos is features editor at ReHack.
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Electric outboard startup Pure Watercraft is selling itself for parts
A hopeful entrant in the emerging market of electric watercraft is out of action and being sold for parts.
Pure Watercraft was founded in 2011 with the intention of replacing gas-based outboard motors with fully electric ones. We covered the company in 2016 when it began taking preorders for its first commercial outboards, and in 2020 Pure raised $23 million to step up production. GM even took a 25% stake in Pure as part of its big investment in electric infrastructure.
The company offered a electric outboard and battery combo that could be mounted on a boat like any other outboard, or in a package with a rigid inflatable or pontoon boat. With prices ranging from $21,600 for just propulsion to nearly $100,000 for a full boat, Pure’s products were arguably no more affordable up front than gas options, but they were certainly a lot cleaner and quieter.
But a tough market seems to have put an end to Pure’s ambitions. The company entered receivership — a sort of alternative form of bankruptcy — in July, per filing documents in King County, Washington, where it is based. In August it was also reported that a planned multi-million-dollar factory in West Virginia would not be going forward.
The documents describe numerous creditors, from individual investors to banks to the big one, GM, which put approximately $35 million into the venture. That wasn’t all cash, though: listed among Pure’s assets is some $25 million worth of “manufacturing support,” “know-how,” licensing of the name, and other forms of non-pecuniary goods. (This type of in-kind investment is fairly commonplace.)
On the asset side, we find $3.6 million in “finished goods,” likely the assembled motors and battery units built by Pure, though why those would not have gone out to the more than 900 people who paid a down payment is unclear (nor is whether refunds will be issued). Another $25.5 million of “raw materials” is also listed, but what this may be is unclear — other documents detailing sale of assets like boats and batteries don’t come near that sum.
TechCrunch has asked both Pure and GM for comment on the matter. GM did not offer a substantive response and we have not yet heard back from Pure.
Electric watercraft is a growing but still nascent industry, with startups like Candela, Navier, FleetZero and Zin Boats making a play for cleaner, more efficient waterways and infrastructure.
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