Government

Trump pardons Silk Road founder

No, I’m not talking about 4000 mile long trade route. On Wednesday, President Trump signed a full and unconditional pardon for Ross Ulbricht, the founder of Silk Road, an online black market where users could buy illegal drugs.

Ulbricht, who was known online as 'Dread Pirate Roberts,' was arrested in 2013 and later convicted in 2015 for drug distribution and money laundering conspiracy.

Dark web wonder

Ulbricht founded and managed Silk Road, a dark web marketplace for illegal goods and services (like an evil Amazon), from 2011 to 2013. Users were able to buy anything from drugs to hacking tools, all exclusively paid for with Bitcoin. The marketplace is considered the first-ever darknet market since it operated as a hidden service on the Tor network (see overview), which aids user anonymity.

During Ulbricht's trial in 2015, some information about the marketplace was made public:

• It gave rise to a global network of 100,000 buyers and almost 4,000 drug dealers.

• Court documents from the FBI state the marketplace had just under a million users, though not all were active.

  • Around 70% of all sales were drug-related.

  • Total sales amounted to around 9,519,664 Bitcoins, or around $200 million, accounting for inflation.

• The Silk Road was found to be the source of at least six drug overdose deaths.

While the service was certainly illegal, you couldn’t buy anything you wanted. The site’s terms of service (yes it had one) prohibited the sale of anything meant to “harm or defraud”, which included assassinations, credit card theft, child pornography, and any kind of weaponry.

Fun (?) fact: A Bitcoin address linked to the Silk Road was used in two transactions in 2020, after years of inactivity, totaling 69,370 Bitcoin and Bitcoin cash, which at the time of the transfer was valued at almost $1 billion.

Why pardon the Silk Road founder?

Since Silk Road was among the first notable places to use Bitcoin, Ulbricht became something of a saint to the movement. He garnered a lot of support from the Libertarian Party and the cryptocurrency industry, two groups that supported Trump throughout the presidential campaign.

• The Libertarian Party is largely against criminal drug legislation and believes that Ulbricht's arrest was an overreach by the government.

• Ulbricht is arguably "the most successful and influential entrepreneur of the early Bitcoin era," according to the editor of Bitcoin Magazine, who spoke to the New York Times.

Not to mention, during his speech at the Libertarian Party National Convention in May of last year, Trump declared, "I will commute Ross Ulbricht's sentence on day one if you vote for me."

Looking in: Trump’s pardon of Ulbricht is not only a way to appease two major groups that raised a lot of support for him, but it makes good on his promise after more than a decade of activism by Ulbricht’s supporters.

Weather

Historic snowstorm sweeps across the US

This is the most snow the region has seen, well, ever. This week, an extremely rare winter storm hit the southeast US, bringing record-breaking snowfall and unyielding cold to areas that typically never experience severe winter weather conditions.

Unprecedented blizzard warnings went off in Louisiana, Florida, and Texas, where some areas saw almost 14 inches of snow. As of writing, at least 10 people have died due to vehicle crashes or freezing weather.

Bitter conditions

The once-in-a-generation winter storm has brought “dangerously cold temperatures” and icy road conditions, causing widespread travel disruptions throughout the US Gulf Coast. The frigid conditions, along with power outages, caused five states to declare a state of emergency.

• More than 2,200 flights nationwide were canceled, and airports in Houston suspended operations.

• Schools, roads, and government offices closed throughout the region.

The storm came after a giant arctic blast brought some of the coldest winter weather yet to many parts of the United States, where nearly 300 million Americans saw glacial temperatures, some as low as -55 degrees Fahrenheit.

Why did it get so cold? The unprecedented temps were mainly due to a change in the polar vortex (a mass of cold, low-pressure air that revolves around the polar regions of Earth), which was temporarily sent south after a change in wind conditions. See how it works here.

Historic snowstorm

Both Pensacola, Florida, and Mobile, Alabama, broke 130-year snowfall records while New Orleans received the most snowfall the city has seen in modern history. Many areas, like Lake Charles, Louisiana, saw their first-ever blizzard warnings.

• Since the start of January, New Orleans has seen more snowfall than Anchorage, Alaska.

• There was enough snow in several areas of Florida alone that broke the state's 1954 snowfall record of 4 inches.

How did this become a once-in-a-generation winter storm? The storm met the rare requirements to become a record-breaking blizzard. A low-pressure system in the Gulf of Mexico and an Arctic jet stream traversing the Plains combined like the ingredients in a good chili (see a more detailed explanation here).

Are local meteorologists going extinct?

I’m unsure who else could have gotten us through the winter storm. Allen Media Group, which owns nearly two dozen TV stations across the country, announced a “cutting-edge” new format that would replace local meteorologists with a feed from The Weather Channel.

According to the company, the latest move is among the most recent cost-cutting measures Allen Media has taken, dragging local media stations in a “groundbreaking” new direction.

Weather woes

Allen Media said in a press release that nearly 50 employees across its networks would be laid off or reassigned, prompting tear-filled goodbyes from weather reporters. The media company acquired The Weather Channel for $300 million in 2018, which had its own layoffs just last year.

In place of your local weather pundit, Allen Media says it is building a new team in Atlanta to lead weather coverage:

• Carl Parker, a storm specialist and 20-year Weather Channel veteran, will lead the new team, which will also include some of the other meteorologists who have been laid off.

Allen Media is building a state-of-the-art climate kingdom. The Atlanta "hub" will feature a whole host of new technology to try and keep viewers entertained and watching:

• It will feature the latest meteorological tools, better forecasting capabilities, and round-the-clock news coverage.

  • Additionally, there will be an emphasis on innovative storytelling devices, using immersive mixed reality and more graphics to captivate those watching.

The strategic changes mark a new direction for many local media stations, and while the modern look is likely to grab some eyes, it’s yet to be seen if viewers are willing to scrap their local meteorologists.

People like local media

Experts say that local meteorologists are one of the main reasons people still watch the news and are crucial for weather reporting, especially during natural disasters and unusual weather phenomena (which seem to be pretty common lately).

• Around 90% of Americans who follow local news do so to learn about the weather—more than any other news category—according to a Pew Research study conducted last year.

• According to Nielsen data, local news stations had two to three times their average viewership during recent wildfires in the LA area.

In general, people like familiar faces, plus, it helps that they understand the local area (like its climate and geography) and can pronounce all the weird towns in your state flawlessly.

Popular petition: Some viewers have already protested the changes, as more than 33,000 people have signed a Change.org petition to reinstate the jobs of Mississippi meteorologists who were impacted by Allen's decision.

Grab Bag

A recap of the World Economic Forum

Boy, would I like to be a fly on the wall. The World Economic Forum (WEF), which started on Monday, is the yearly gathering of global elites in Davos, Switzerland, to talk about whatever they want economic policy. Here’s a short recap.

Monetary mumbling

Policy, significant agreements, and decisions are frequently made at the summit (see overview) which is supposed to promote international cooperation and seek solutions to the world's pressing problems.

Now, in its 55th year, the heavy hitters’ discussions were largely shaped by President Trump’s proposals and his Thursday address to the summit:

Tariffs: In his address yesterday, Trump gave global leaders an ultimatum: bring more manufacturing to the US and get lower taxes, or don’t, and face an onslaught of tariffs.

• Jamie Dimon, the CEO of JPMorgan Chase, stated "it’s a little inflationary, but it’s good for national security" seemingly toeing the line.

• The CEO of Ingka Group, IKEA's biggest franchisee, Jesper Brodin, expressed concern that planned tariffs would be passed on to consumers.

Oil: President Trump also demanded OPEC, a coalition of the world’s leading oil-producing countries that hold 80% of the world’s oil, bring down prices.

• While Trump spoke, oil prices fell, the euro fell, and the US dollar fluctuated between gains and losses. The S&P 500, however, reached an almost all-time high.

Interest rates: Five days before the Fed’s first meeting under his administration, Trump pushed for interest rates to be lowered, both in the US and abroad.

• New York Fed President John Williams stated that “the economic outlook remains highly uncertain,” and that they wouldn’t change how they base their decision on future monetary policy.

TikTok: The ever-popular platform was discussed by a range of attendees, and Trump again promised to get a deal done.

• In an interview at Davos Wednesday, General Atlantic CEO Bill Ford, who is also a board member of the app's parent company, ByteDance, stated that an agreement will be reached to maintain TikTok's availability in the United States.

  • The app has less than 75 days to sell since President Trump postponed the ban when he took office on Monday, and lots of investors are intrigued at the prospect of buying it.

What wasn’t talked about? While the wars in Ukraine and Gaza, nuclear arms, Russia, immigration, and trade were also discussed at length, tech leaders said AI seemed to be missing from the agenda and are worried attendees are painting the wrong picture.

Scientists decoded the genes behind bipolar disorder

It could be the biggest breakthrough in our understanding of the condition. In the broadest investigation to date on the biochemical underpinnings behind BPD, a global team of experts has identified 36 genes associated with the disorder, the most significant step yet in understanding its genetic factors.

Unprecedented discovery

Out of the 40 and 50 million people worldwide who suffer from bipolar disorder, around 80% of BPD cases are thought to be genetic, which shows a strong genetic propensity to the mental illness.

O'Connell and Andreassen, alongside a multinational research team, carried out the study which had over 2.9 million participants, the largest ever of its kind. The results may aid in early intervention and improve the diagnosis and treatment of high-risk patients.

• 298 genomic regions—specific regions in our DNA sequence—associated with bipolar disorder were found in the study, 267 of which have never been linked to the disorder.

Someone suffering from bipolar disorder typically takes an average of eight years to receive a diagnosis, but using the data gathered from this study, that time could be shortened dramatically.

It won’t just help early detection: Andreassen said it could also lead to “improved diagnosis and treatment options” along with better “preventative measures” to reduce the risks associated with the disorder.

Fast Facts

Skeptical Scientists: Astronomers are struggling to explain the detection of fast radio bursts, pulses of radiation typically from neutron stars or black holes, originating from a long-dead galaxy.

Drug… Drug: The FDA approved Johnson & Johnson’s ketamine-derived nasal spray for depression as a standalone treatment.

Rusting Reward: Over 100 Olympic athletes have asked for their medals to be replaced due to rusting. Luxury jewelry company Chaumet said they merely designed the medals and cannot take action.

IQ Contamination: According to scientists, the Roman Empire's high levels of lead contamination from silver mining may have reduced IQs. Cicero is rolling in his grave.

Poor Tippers: For the three months that ended on September 30th, the average tip at full-service restaurants in the United States dropped to 19.3%, the lowest level in six years, according to Toast.