
The number of human bank tellers has slumped dramatically since 2010 in the US. But it isn’t because of ATMs. So why? CC-licensed photo by Eric Lubbers on Flickr.
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A selection of 9 links for you. Telling. I’m @charlesarthur on Twitter. On Threads: charles_arthur. On Mastodon: https://newsie.social/@charlesarthur. On Bluesky: @charlesarthur.bsky.social. Observations and links welcome.
Why ATMs didn’t kill bank teller jobs, but the iPhone did • David Oks
David Oks:
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So what happened to bank tellers [whose numbers in the US have dropped precipitously since 2010]? Autor, Bessen, Vance, and the like are right to point out that ATMs did not reduce bank teller employment. But they miss the second half of the story, which is that another technology did. And that technology was the iPhone. The huge decline in bank teller employment that we’ve seen over the last 15-odd years is mainly a story about iPhones and what they made possible.
But why? Why did the ATM, literally called the automated teller machine, not automate the teller, while an entirely orthogonal technology—the iPhone—actually did?
The answer, I think, is complementarity.
In my last piece, on why I don’t think imminent mass job loss from AI is likely, I talked a lot about complementarity. The core point I made was that labor substitution is about comparative advantage, not absolute advantage: the relevant question for labor impacts is not whether AI can do the tasks that humans can do, but rather whether the aggregate output of humans working with AI is inferior to what AI can produce alone. And I suggested that given the vast number of frictions and bottlenecks that exist in any human domain—domains that are, after all, defined around human labor in all its warts and eccentricities, with workflows designed around humans in mind—we should expect to see a serious gap between the incredible power of the technology and its impacts on economic life.
That gap will probably close faster than previous gaps did: AI is not “like” electricity or the steam engine; an AI system is literally a machine that can think and do things itself. But the gap exists, and will exist even as the technology continues to amaze us with what it can now accomplish.
But by talking about why ATMs didn’t displace bank tellers but iPhones did, I want to highlight an important corollary, which is that the true force of a technology is felt not with the substitution of tasks, but the invention of new paradigms. …When a technology automates some of what a human does within an existing paradigm, even the vast majority of what a human does within it, it’s quite rare for it to actually get rid of the human, because the definition of the paradigm around human-shaped roles creates all sorts of bottlenecks and frictions that demand human involvement. It’s only when we see the construction of entirely new paradigms that the full power of a technology can be realized. The ATM substituted tasks; but the iPhone made them irrelevant.
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This is a very thoughtful, and insightful piece which offers a lot of food for thought. In the town where I live, there used to be at least five banks and two building society branches, with attendant staff (and five ATMs total); now there are two building societies, one bank, and two ATMs. I haven’t been into a bank branch for years; the last time I did was when I was trying to get some copper coins converted into their equivalent in pounds. (Two of the banks refused.)
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AI companies want to use improv actors to train AI on human emotion • The Verge
Hayden Field:
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If you’ve got strong creative instincts, the ability to authentically portray emotion, and are capable of staying true to a character’s voice throughout a scene, there’s a job listing calling for your experience.
The catch: You won’t be performing in a theater, a film studio, or an underground performance space. You’d be using your talents to train an AI model for “one of the leading AI companies,” according to the open role posted by Handshake, a company that provides training data to OpenAI and other labs.
Handshake AI is one of a handful of companies of its kind, scrambling to provide more and more niche or specific training data to AI labs in order to feed the models. AI models are often described as “jagged,” meaning they’re typically great at some surprisingly complex tasks but fail deeply at some simple ones. AI companies are trying to fix the gaps in their models’ knowledge with specialized data labeling, and companies like Handshake, Mercor, and Scale AI have adjusted accordingly, hiring professionals in a wide range of industries.
Handshake’s demand for training data tripled last summer, as The Verge reported in December, and the company surpassed a $150 million run rate in November, scrambling to keep up with demand. Handshake and its competitors have touted their networks of tens of thousands (or more) professionals in white-collar industries, from chemists and doctors to lawyers and screenwriters. Many of these professionals worry they’re training AI models in a way that will make their careers obsolete even quicker than may have happened otherwise.
And now the leading AI labs have come for sketch comics, improv actors, and more.
…it’s looking for people who can essentially “test the limits of the world’s top LLMs’ understanding” by teaching the models how to recognize or replicate human tone and emotions. “Emotional awareness” is one of the requirements, for instance, specifically the “ability to recognize, express, and shift between emotions in a way that feels authentic and human.” The job listing also called for “interactions that feel grounded, human, and fun to play.”
Handshake declined to comment, and the listing does not specify what the training data will be used for.
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LATENT: Learns Athletic humanoid TEnnis skills from imperfect human motioN daTa • Github
Li Yi et al, Tsinghua University:
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Human athletes demonstrate versatile and highly-dynamic tennis skills to successfully conduct competitive rallies with a high-speed tennis ball. However, reproducing such behaviors on humanoid robots is difficult, partially due to the lack of perfect humanoid action data or human kinematic motion data in tennis scenarios as reference.
In this work, we propose LATENT, a system that Learns Athletic humanoid TEnnis skills from imperfect human motioN daTa. The imperfect human motion data consist only of motion fragments that capture the primitive skills used when playing tennis rather than precise and complete human-tennis motion sequences from real-world tennis matches, thereby significantly reducing the difficulty of data collection.
Our key insight is that, despite being imperfect, such quasi-realistic data still provide priors about human primitive skills in tennis scenarios. With further correction and composition, we learn a humanoid policy that can consistently strike incoming balls under a wide range of conditions and return them to target locations, while preserving natural motion styles.
We also propose a series of designs for robust sim-to-real transfer and deploy our policy on the Unitree G1 humanoid robot. Our method achieves surprising results in the real world and can stably sustain multi-shot rallies with human players.
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This is the paper. It’s going to be interesting to see how it learns to serve: one assumes it will be extremely consistent and hit it very hard. The question is how long it will take before this is playing at a serious standard. Train it on Alcaraz, you’ll see a hell of an improvement.
Definitely worth going to the page linked here to see the videos! I’ve seen worse from humans, to be honest.
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“This is not the computer for you” • Sam Henri Gold
Sam Henri Gold:
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There is a certain kind of computer review that is really a permission slip. It tells you what you’re allowed to want. It locates you in a taxonomy — student, creative, professional, power user — and assigns you a product. It is helpful. It is responsible. It has very little interest in what you might become.
The MacBook Neo has attracted a lot of these reviews.
The consensus is reasonable: $599, A18 Pro, 8GB RAM, stripped-down I/O. A Chromebook killer, a first laptop, a sensible machine for sensible tasks. “If you are thinking about Xcode or Final Cut, this is not the computer for you.” The people saying this are not wrong. It is also not the point.
Nobody starts in the right place. You don’t begin with the correct tool and work sensibly within its constraints until you organically graduate to a more capable one. That is not how obsession works. Obsession works by taking whatever is available and pressing on it until it either breaks or reveals something. The machine’s limits become a map of the territory. You learn what computing actually costs by paying too much of it on hardware that can barely afford it.
I know this because I was running Final Cut Pro X on a 2006 Core 2 Duo iMac with 3GB RAM and 120GB of spinning rust. I was nine. I had no business doing this. I did it every day after school until my parents made me go to bed.
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He’s absolutely right: there’s a terrible tendency for reviewers to say “I have decided that this machine is not correct for you, ethereal internet reader, and I will tell you which people it is correct for.” In reality, we use what we can. It’s actually quite rare to have the exact perfect machine for your needs.
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Memory crunch threatens to kneecap Chromebook shipments • The Register
Dan Robinson:
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Chromebooks, the low-cost computing option popular with education buyers, will be squeezed hardest this year as memory prices spiral out of control.
According to the mystics at Omdia, total global PC shipments are on track to decline 12% in 2026: desktop PCs by 10% to 53.2m units and laptops by 12% to 192.2m units.
…Omdia expects the entry-level bracket to experience the biggest slowdown. ChromeOS platforms are forecast to shrink 27.6% year-on-year in 2026, compared to 12.1% for Windows and 4.8% for macOS.
“The supply-driven downturn in 2026 will not affect all PC platforms equally,” said Kieren Jessop, research manager at Omdia.
“Chrome devices face the steepest decline at 28 percent, as the education-heavy platform is particularly exposed to tighter component allocation, lower margins, and the discontinuation of some memory and storage products.”
Apple’s “vertically integrated supply chain and premium positioning” mean it is comparatively sheltered from memory dynamics.
The forecast 12% drop in PC shipments, however, is based on an expected minimum 60% rise in memory and storage prices during the first quarter, with the hope that subsequent increases throughout 2026 will moderate as pressure eases. Things could deteriorate, pushing PC shipments toward a 15% decline, possibly even greater.
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Not that Apple intended it, but launching the Neo into a market where rivals are being squeezed might turn out to be a smart move.
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Buzzfeed has “substantial doubt” it can stay in business • CNN Business
Ramishah Maruf:
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Buzzfeed, the digital media company that took the mid-2010s by storm, said on Thursday it has “substantial doubt” about its ability to continue as a business.
In an earnings report released Thursday, Buzzfeed said it has engaged in “strategic conversations” about relieving its liquidity issues.
“We believe there is a gap between the value of our individual assets and our market capitalization that suggests significant unrecognized upside,” founder and CEO Jonah Peretti said.
The company was $165m in debt three years ago; that’s been slashed by more than 65%, Buzzfeed said. But Matt Omer, Buzzfeed’s chief financial officer, said the company is still burdened by legacy commitments. Alongside its namesake, Buzzfeed also owns news site Huffpost and online food network Tasty.
“We’re exploring strategic options to complete the work we started years ago and position the Company to operate profitably on a sustainable basis,” Omer said in the earnings statement.
Peretti gave a hint of what that could look like in the statement: “In 2026, our focus is demonstrating the value of our brands, Studio IP, and new AI apps to the market.”
In 2025, Buzzfeed had a net loss of $57.3m, according to its earning report. The company noted it did not have enough resources to fund its cash obligations for the next year.
The decline of Buzzfeed’s digital empire, synonymous with viral videos and online quizzes, has been playing out since its IPO in 2021.
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Strong suspicion that this is going to get broken up for parts. Back in April 2023 there was a link here to “How Buzzfeed News went bust“. Now the parent seems to be heading the same way. It says a lot about the challenge of digital media nowadays. The old names – Guardian, etc – are still going, decades or centuries later. Meanwhile after 20 years Buzzfeed, which was feted by Ben Thompson back in March 2015 as “the most important news organisation in the world”, looks close to the edge.
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Australia releases six days’ worth of petrol and five of diesel from emergency stockpile • ABC News
Jake Evans:
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Australia will make available about six days’ worth of petrol from its emergency stockpile and five days of diesel, the first use of its fuel reserves since the invasion of Ukraine in 2022.
Australia currently holds 36 days’ worth of petrol supply, 29 days’ worth of jet fuel and 32 days’ worth of diesel, according to the latest data.
Energy Minister Chris Bowen said the fuel would not flow immediately due to the complexities of supply chains, but it would give fuel retailers flexibility to manage their supply.
“The minimum stock obligation which was introduced … for this purpose, [for] the rainy day, is now necessary,” Mr Bowen said.
“There is a war. I think war ticks the boxes of crisis.”
Reserves for petrol and diesel already sit above the minimum requirements established by the government in 2023.
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A month’s worth of petrol supply? That doesn’t seem like a lot when the principal transport route is closed. As someone remarked, Australia is a couple of months away from Mad Max (the first one, with Mel Gibson).
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Bahrain’s Alba shuts 19% of aluminium capacity as Hormuz disruption continues • Reuters
Tom Daly:
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Aluminium Bahrain, known as Alba, said on Sunday it had initiated a shutdown of three aluminium smelting lines accounting for 19% of its capacity to preserve business continuity amid ongoing disruption in the Strait of Hormuz.
The closures are the latest impact on the Middle East aluminium sector, which accounts for around 9% of global supply, from the US-Israeli war on Iran. Fears of shortages propelled London Metal Exchange aluminium to a nearly four-year high of $3,546.50 per metric ton on Thursday.
Alba, which has smelting capacity of 1.62 million tons of aluminium per year, said in a statement it had initiated a “controlled and safe shutdown” of reduction lines 1, 2 and 3.
“This targeted, line-specific action is designed to optimise the utilisation of Alba’s existing raw materials inventory and prioritise operational stability across Reduction Lines 4, 5 and 6,” added Alba, which describes itself as the “world’s largest aluminium smelter on one site.”
The company had issued force majeure on March 4 since it was unable to ship metal to customers due to the effective closure of the Strait of Hormuz. The closure has also left Middle East smelters unable to bring in vessels carrying their key raw material, alumina.
Energy supply is another issue for smelters. Qatar’s Qatalum had begun a shutdown on March 3 due to a suspension of its gas supply but will now operate at 60% capacity.
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The ripple effects of this completely unfocussed assault on Iran are going to go on and on.
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Google Fiber will be sold to private equity firm and merge with cable company – Ars Technica
Jon Brodkin:
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Google Fiber, now officially called GFiber, is being sold to private equity firm Stonepeak and will be combined with cable-and-fiber firm Astound Broadband to create a larger Internet service provider.
Google owner Alphabet announced last Wednesday that it will keep only a minority stake in the fiber ISP that launched with grand ambitions in 2012 but scaled back its expansion plans in 2016. Alphabet and Astound owner Stonepeak announced “an agreement to combine GFiber with Astound Broadband, creating a leading independent fiber provider,” with the merged company to be “majority owned by Stonepeak, an investment firm specializing in infrastructure and real assets.”
The deal is subject to regulatory approvals and other closing conditions, with an expected closing date in Q4 of this year. The sale price was not disclosed. The deal will help GFiber take “a major step toward its goal of operational and financial independence” and obtain the “external capital and strategic focus needed to accelerate its next phase of growth,” the announcement said.
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Google Fiber [sic] launched with the intention of being the “no data caps, no hidden fees, good prices, high speeds” provider which would shame rivals into improving their services.
With private equity taking over.. one doesn’t expect any of those to hold. Does Google just get bored with things? Or is its management not capable of looking after more than a certain number of things at once?
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| • Why do social networks drive us a little mad? • Why does angry content seem to dominate what we see? • How much of a role do algorithms play in affecting what we see and do online? • What can we do about it? • Did Facebook have any inkling of what was coming in Myanmar in 2016? Read Social Warming, my latest book, and find answers – and more. |
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