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Big home, big deal: The Manor in Holmby Hills sets an L.A. County price record at $119.75 million

Big home, big deal: The Manor in Holmby Hills sets an L.A. County price record at $119.75 million

Los Angeles’ ailing luxury real estate market just received a shot in the arm: The Manor, a 56,500-square-foot chateau in Holmby Hills, has sold for $119.75 million — the highest home price in Los Angeles County history. The astronomical sale closed Tuesday, according to the Multiple Listing Service. It represents another notch in the belt for the county, which saw its price record shattered last year by the $110-million deal for Hard Rock Cafe co-founder Peter Morton’s Malibu beach house.
The Cannabis Equity Con

The Cannabis Equity Con

On June 25, Illinois became the 11th state to legalize marijuana. Governor J.B. Pritzker claims what really sets Illinois’s law apart is that it is the “most equity-centric” legalization law yet. According to Democratic state Representative Jehan Gordon-Booth, this means that “the communities that have suffered through the war on drugs will now have an opportunity to enter a new market and be successful.” This vision of equity, though, is based on a deeply flawed understanding of what a mature legal marijuana market will look like.
Self-Proclaimed Bitcoin Inventor Says Fortune Inaccessible

Self-Proclaimed Bitcoin Inventor Says Fortune Inaccessible

Craig Wright, the Australian scientist who claims he created Bitcoin, said at a federal court hearing in West Palm Beach, Florida, that he can’t comply with an order to produce a list of all his early Bitcoin addresses, and may not even be ever able to access the coins. Wright is defending himself against charges that he stole Bitcoins and intellectual property worth billions from a late business partner. The case could potentially help shed light on whether he really is Satoshi Nakamoto -- something that many in the cryptocurrency community doubt.
Trump officials weigh encryption crackdown

Trump officials weigh encryption crackdown

Senior Trump administration officials met on Wednesday to discuss whether to seek legislation prohibiting tech companies from using forms of encryption that law enforcement can’t break — a provocative step that would reopen a long-running feud between federal authorities and Silicon Valley. The encryption challenge, which the government calls “going dark,” was the focus of a National Security Council meeting Wednesday morning that included the No. 2 officials from several key agencies, according to three people familiar with the matter. Senior officials debated whether to ask Congress to effectively outlaw end-to-end encryption, which scrambles data so that only its sender and recipient can read it, these people told POLITICO.
Bitcoin plunges $3,000 in less than 24 hours, showing its volatility once again

Bitcoin plunges $3,000 in less than 24 hours, showing its volatility once again

Bitcoin cratered Thursday, living up to its volatile reputation after hitting a 17-month high a day earlier. The world’s most widely traded cryptocurrency dropped to a low of $10,373.75 Thursday afternoon — a roughly $3,000 drop from where it was trading Wednesday. Bitcoin had rallied to a high of $13,485.85 Wednesday afternoon, its highest price since January 2018, according to industry site CoinDesk. It then fell sharply after U.S. markets closed. The cryptocurrency was trading around $10,823 by 3:30 p.m. ET.  The steep decline came at the same time as an outage on popular cryptocurrency trading platform Coinbase. A Coinbase spokesperson told CNBC the site was down “for a short period of time due to high volume.”
Gmail’s API lockdown will kill some third-party app access, starting July 15

Gmail’s API lockdown will kill some third-party app access, starting July 15

Google is locking down API access to Gmail data (and later, Drive data) soon, and some of your favorite third-party apps might find themselves locked out of your Google account data. The new API policy was announced back in October, but this week Google started emailing individual users of these apps, telling them the apps will no longer work starting July 15. The new policy closes off OAuth access to Gmail data, and while we by no means have a comprehensive list of what isn't affected yet, so far we've seen users of Microsoft's SwiftKey and the open source app SMS Backup+ receive notification emails.
VR & Sex: How This 27-Year-Old Created One of the Hottest Virtual Reality Franchises

VR & Sex: How This 27-Year-Old Created One of the Hottest Virtual Reality Franchises

At a time when multiple research reports indicate that people are having less sex globally, 27-year-old Anna Petukhova decided to combine technology, sex toys and good old-fashioned sex appeal to open a sex club in her hometown of Moscow, Russia. Regarded as one of Russia’s leading fashion and fitness models, Petukhova is also a graduate of Russia’s equivalent of Harvard, earning a combined bachelor’s and master’s degree in Russian literature and linguistics (English) from Lomonosov Moscow State University. Upon graduating, Petukhova worked as an English language translator for several consulting firms and businesses, while also modeling and conducting walking tours for tourists throughout Russia.
Apple Hires Key Chip Designer From ARM as Own Efforts Ramp Up

Apple Hires Key Chip Designer From ARM as Own Efforts Ramp Up

Apple Inc. hired one of ARM Holdings Inc.’s top chip engineers as the iPhone maker looks to expand its own chip development to more powerful devices, including the Mac, and new categories like a headset. The company hired Mike Filippo in May for a chip architect position, according to his LinkedIn profile. At ARM, Filippo was a lead engineer behind chip designs that power the vast majority of the world’s smartphones and tablets and was leading a new push into parts for computers. ARM, owned by SoftBank Group Corp., designs microprocessors and licenses technology that is fundamental to the chip development efforts of Apple, Samsung Electronics Co., Qualcomm Inc. and Huawei Technologies Co.
Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals

Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals

Goldman Sachs is performing “extensive research” on tokenization, the group’s chief executive told France’s Les Echos newspaper on June 27. David Solomon said he believes global payment systems are heading in the direction of stablecoins — cryptocurrencies pegged to fiat assets such as the U.S. dollar. Although he stopped short of confirming whether Goldman Sachs has had discussions with Facebook about its upcoming libra cryptocurrency and Calibra wallet, Solomon said his corporation finds the concept “interesting.”
U.S. pending home sales increase in May

U.S. pending home sales increase in May

California will increase its spending on public education, expand healthcare services and stash away more money than ever for an economic downturn under the state budget signed Thursday by Gov. Gavin Newsom — a plan that was stalled for two weeks over how it would address the state’s growing housing crisis. The $214.8-billion budget is the largest in state history. The majority of its provisions take effect next week, though some new services won’t be funded until January in an effort to lower the short-term cost. Newsom touted the budget agreement in a live event on Facebook from his Capitol office, reciting a long list of the plan’s highlights and boasting that he had followed the course set by his predecessor, former Gov. Jerry Brown.
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