Thursday, January 18th, 2024

Time	Event
10:40p	Reddit Seeks To Launch IPO In March According to Reuters, Reddit plans to launch its initial public offering (IPO) in March, "moving forward with a listing it has been eyeing for more than three years." From the report: It would be the first IPO of a major social media company since Pinterest's, opens new tab debut in 2019, and would come as Reddit and its peers face stiff competition for advertising dollars from the likes of TikTok and Facebook. The offering would also test the willingness of some Reddit users to back the company's stock market debut. Reddit, which filed confidentially for its IPO in December 2021, is planning to make its public filing in late February, launch its roadshow in early March, and complete the IPO by the end of March, two of the sources said. The San Francisco-based company, which was valued at about $10 billion in a funding round in 2021, is seeking to sell about 10% of its shares in the IPO, the sources added. It will decide on what IPO valuation it will pursue closer to the time of the listing, according to the sources. Read more of this story at Slashdot. (Comment on this)
11:00p	Google Is Rolling Out WebGPU For Next-Gen Gaming On Android In a blog post today, Google announced that WebGPU is "now enabled by default in Chrome 121 on devices running Android 12 and greater powered by Qualcomm and ARM GPUs," with support for more Android devices rolling out gradually. Previously, the API was only available on Windows PCs that support Direct3D 12, macOS, and ChromeOS devices that support Vulkan. Google says WebGPU "offers significant benefits such as greatly reduced JavaScript workload for the same graphics and more than three times improvements in machine learning model inferences." With lower-level access to a device's GPU, developers are able to enable richer and more complex visual content in web applications. This will be especially apparent with games, as you can see in this demo. Next up: WebGPU for Chrome on Linux. Read more of this story at Slashdot. (Comment on this)
11:20p	IBM Scraps Rewards Program For Staff Inventions, Wipes Away Cash Points Thomas Claburn reports via The Register: IBM has canceled a program that rewarded inventors at Big Blue for patents or publications, leaving some angry that they are missing out on potential bonuses. By cancelling the scheme, a source told The Register, IBM has eliminated a financial liability by voiding the accrued, unredeemed credits issued to program participants which could have been converted into potential cash awards. For years, IBM has sponsored an "Invention Achievement Award Plan" to incentivize employee innovation. In exchange for filing patents, or for publishing articles that served as defense against rival patents, IBM staff were awarded points that led to recognition and potentially cash bonuses. According to documentation seen by The Register, "Invention points are awarded to all inventors listed on a successful disclosure submission." One point was awarded for publishing. Three points were awarded for filing a patent or four if the filing was deemed high value. For accruing 12 points, program participants would get a payout. "Inventors reach an invention plateau for every 12 points they achieve -- which must include at least one file decision," the rules state. And for each plateau achieved, IBM would pay its inventors $1,200 in recognition of their efforts. No longer, it seems. IBM canceled the program at the end of 2023 and replaced it with a new one that uses a different, incompatible point system called BluePoints. "The previous Invention Achievement Award Plan will be sunset at midnight (eastern time) on December 31st, 2023," company FAQs explain. "Since Plateau awards are one of the items being sunset, plateau levels must be obtained on or before December 31, 2023 to be eligible for the award. Any existing plateau points that have not been applied will not be converted to BluePoints." We're told that IBM's invention review process could take months, meaning that employees just didn't have time between the announcement and the program sunset to pursue the next plateau and cash out. Those involved in the program evidently were none too pleased by the points grab. "My opinion...the invention award program was buggered a long time [ago]," said a former IBM employee. "It rewarded words on a page instead of true innovation. [Former CEO] Ginni [Rometty] made it worse by advocating the program to fluff up young egos." Read more of this story at Slashdot. (Comment on this)

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