How hackers actually steal one-time passwords

Monday, May 13, 2024 Posted by bloggerdaddy

Monday, May 13, 2024

Welcome to TechCrunch AM! I'm Rebecca Bellan, and I'll be accompanying you and your morning coffees going forward. I'm devastated that Alex has moved on and left massive (metaphorical) shoes to fill, but I'm super excited to start the morning with you all!

Today, we have a deep dive into how cybercriminals are targeting boomers, notes on Permira dropping a huge wad of cash for Squarespace, why sustainability is actually just about money, and how Google is tapping telecom companies for cloud coverage. Onward! — Rebecca

TechCrunch Top 3

Image Credits: Bryce Durbin / TechCrunch

1. 'Got that boomer!' PSA: If PayPal's security team tells you they've detected unusual activity on your account, do NOT give that person the six-digit security code sent to your phone. A hacking operation called Estate has enabled its members to make thousands of automated phone calls and trick victims into giving out their one-time passcodes. We got our hands on Estate's unencrypted backend database for a rare insight into how this type of scam works. Read More

2. Permira drops $6.9B for Squarespace: Website builder Squarespace is being taken private in a $6.9 billion all-cash deal by U.K.-based private equity firm Permira. The private equity firm says it sees potential in the company's business, especially as it has begun integrating genAI into its solutions. CEO Anthony Casalena will stay on post-acquisition. Read More

3. Gatekeeping.com: Booking.com has been designated a gatekeeper under the EU's Digital Markets Act, which means it will now be regulated under the bloc's competition rules. The travel platform has six months to comply, and the European Commission hopes its decision will give consumers more choice and hotels more business opportunities. Read More

A MESSAGE FROM STATSIG

A/B Talks: NYC on May 16th!

Join Statsig for an event discussing the latest trends in product development with past leaders from Facebook, Instagram, Rec Room
and Snap!

Morning Must Reads

Image Credits: SAP

Companies are not going to magically grow a conscience: SAP's chief sustainability officer, Sophia Mendelsohn, feels we can't wait around for companies to become altruistic overnight. No, she thinks you need to hit them where it hurts – their wallets. Ron Miller has a great interview showing us how Mendelsohn thinks about sustainability efforts: it's a balancing act that involves incentivizing companies, keeping investors happy, paying working workers fairly and not charging consumers too much. Read More

Wait, what did I note down?: Voicenotes is the latest AI-powered transcription tool, but with a little extra oomph: You can ask its AI assistant questions about your past notes taken. The new app, built by creator-tipping platform Buymeacoffee's founder, Jijo Sunny, and his wife Aleesha, has a free tier that lets you record up to 1-minute voice notes, or you can pay $10 per month to unlock better models and unlimited note-taking. Read More

Indian businesses get more cloud cover: Airtel, a major telco in India, and Google Cloud are teaming up to develop and deliver cloud and generative AI products to Airtel's extensive business customer base. We are sensing a trend here: Other tech giants like Microsoft and Apple are also sniffing around the telecom industry for the troves of data generated by the billions of phone users worldwide. Read More

Listen to women in AI: As part of a series on women in AI, TechCrunch interviewed Dar'shun Kendrick, a member of the Georgia House of Representatives. She talks about passing legislation around the upcoming election and political deepfakes, why women need to show up in AI, and why fraud is the biggest issue in the sector. Read More

You don't need to throw the baby clothes into the trash: Baby equipment is one of the worst industries for fast consumption and waste generation, as babies keep growing and needing more stuff. Or so we think. Alora Baby is trying to shift the narrative to a greener and more sustainable manufacturing option, starting with bedside cribs. Read More

Apple workers go on strike: Apple is getting some blowback from its workers… sort of. A union at one Apple store in Maryland authorized a strike over the weekend. But over in New Jersey, another store voted against forming a union. Read More

Around the Web

Intel wants some fish 'n chips: Intel is reportedly close to a deal with Apollo Global Management for a $11-billion partnership to build a chip manufacturing plant in Ireland, the Wall Street Journal reports. The deal comes as every ambitious country in the world tries to grab a piece of the crucial semiconductor manufacturing market. Read More

The sun is messing with farmers: The solar storm that brought the aurora borealis to the U.S. this weekend also broke vital GPS and precision farming functionality in tractors and agricultural equipment, The Verge reports. Farmers have had to fully stop their planting operations during a critical point in the season. We're pretty sure they don't think the northern lights were worth it. Read More

Pointing lasers at planes is bad: The U.S. Army has shipped a pair of high-energy laser weapons overseas to defend its troops and allies against enemy drones, Wired reports. Called the Palletized High Energy Laser (P-HEL), the weapons are developed by BlueHalo, and can actively blast threats out of the sky. Yes, your tiny handheld laser won't bring down aircraft, but it's still not good to point lasers at planes! Read More

Before You Go

Image Credits: Netflix

Bots need love, too: What in the Black Mirror is Bumble's founder Whitney Wolfe Herd talking about? Oh, that's right – checks notes – using bots to date. Herd is imagining a near future where users can talk to an AI dating concierge to weed through the filth and help you find The One™. After all, AI is bringing efficiency to our work lives. Why not our romantic lives, too? Read More