No more noncompete

April 24, 2024

The FTC just banned noncompete clauses, which companies use to keep workers from going to competitors. With the ban, does the FTC expect a decrease in A.) Wages earned, B.) Startups founded, C.) Patents filed, or D.) Health care costs?

The answer: D.) Health care costs will go down now that noncompetes are toast. That surprised me, too! Wages, startups founded per year and patents filed per year should all increase.

Tags: ban, companies, competitors, costs, FTC, Health, health care, patents, startups, workers

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😎 #Komandodiditfirst: Isn’t that a great hashtag?! The NY Times just published an exposé on GM and LexisNexis’ shady data collection for drivers. But you probably already knew that — I shared the news three weeks ago right here in my free newsletter! I’ll always get you the inside scoop. If you missed it, here’s how to stop their snooping.

93.7-foot wave surfed in Nazaré, Portugal

The feat breaks German surfer Sebastian Steudtner’s previous record from 2020 — an 86-foot wave in the same spot. His goal? 100 feet. A classic “good for him, not for me” if there ever was one.

Tesla tragedy: In Washington, a motorcyclist died after a Tesla on autopilot rear-ended him at high speed. The driver said he trusted the Tesla to drive for him while he was scrolling on his phone. Now he’s charged with vehicular homicide. So, so avoidable. Autopilot is not “self-driving;” it’s just glorified cruise control and lane assist.

Well, full electric, technically. Construction has kicked off on America’s first high-speed rail, connecting Los Angeles and Las Vegas. In as few as four years, the all-electric, zero-emission train will take you 218 miles across the Mojave Desert in just over two hours — twice as fast as driving!

Acts Retirement Services data breach: It happened in 2022. If you had an account with them, you could get $25 per hour for the time you spent dealing with the breach. And if your identity was stolen, get up to $3,500. Submit your claim by May 1.

Chirp off the old block: Chirp Systems’ app controls smart locks in tons of rental homes. The app’s “hardcoded credentials” could let anyone remotely lock or unlock your door. Chirp says a fix is on the way. Swap out Chirp smart locks with this one from Amazon.

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It just keeps getting worse: Think of one person you’d call friend or foe. Now, know it’s either them or you who just got their medical ID and health care details stolen. Yup, 50% of Americans were hit. Cybercriminals were in Change Healthcare’s system for nine days (paywall link) before launching their Feb. 21 ransomware attack. You really need to watch out for medical theft. Steps are on my site.

6-day workweek for Samsung executives after a bad earnings report

The rule is meant to “impose a sense of crisis” after their net profits dropped 72%. Not good. FYI, Samsung still made $11.24 billion in 2023. Excuse me while I play a sad song on the world’s smallest violin.

🥩 Check your fridge: The FDA says a bunch of ground beef might be contaminated with E. coli. Impacted products have a packaging date of “032824” and a use-by or freeze-by date of April 22, 2024. They’re also marked with “EST. 960A” inside the USDA inspection stamp. Toss ’em or return ’em.

Latest Instagram craze: “Grid Zero” is the term for Gen Zers deliberately hiding their entire photo grid. The reason makes sense to me: They’re frustrated with everything in life being documented. Instead, they’re opting for temporary Stories and DMs.