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    Stripe’s $9M Bet on the Death of Banking: Fintech Fragment Reveals the Truth

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    Reconciliation: The Toxic Nightmare that’s Holding Back Financial Progress

    For those who have suffered through the agony of closing the books at the end of the month, you know the feeling all too well. The struggle is real, and it’s a nightmare that’s holding back financial progress.

    Enter Fragment, the Revolutionary Startup That’s Taking on the Beast

    Fragment, a startup founded by Thomas Neckel and Omi Chowdhury, is on a mission to put an end to the reconciliation blues. With their digital ledger API, they’re applying real-time, double-entry accounting to find the errors where things aren’t adding up.

    The Catalyst for Change

    Neckel and Chowdhury’s previous startup, Scuid, was acquired by CA Technologies in 2014. But it was their experience building a private investment platform called Cove.io that highlighted the importance of a ledger. "It was a huge problem we had ourselves," Neckel said.

    The Problem with Reconciliation

    Reconciliation is the bane of existence, especially for businesses with hundreds, thousands, or even hundreds of thousands of transactions a month. And it’s not just a matter of getting the numbers right. Reconciliation issues can lead to finger-pointing and allegations, as we’ve seen with the likes of Evolve Bank and Synapse.

    Fragment’s Solution

    Fragment’s digital ledger API reconciles accounts faster than humans can, especially when dealing with large volumes of transactions. With their software, fintech developers can build financial products that compose funds flows, turn them into code, and embed the code into their products.

    The Vision

    Neckel’s vision is to give technology companies the same financial infrastructure as Square, Stripe, and Uber. "Let’s see what’s possible when we give two people in a garage the same financial infrastructure as Square, Stripe and Uber," he said.

    The Future of Finance

    Fragment is revolutionizing the way we think about finance, and their competition is taking notice. "We’re excited to see what’s possible when you arm technology companies with programmable versions of the double-entry systems the modern economy runs on," said Adam Rothenberg, a partner at BoxGroup.

    The Funding

    Fragment has raised a total of $10.8 million since June 2021, including a seed round of $9 million backed by fintech infrastructure executives from Stripe, BoxGroup, Avid Ventures, and more. The funding will be used to grow the engineering team and invest in go-to-market resources.

    The Revolution Has Begun

    Fragment is officially launching to the public on Monday, and they’re already counting companies like TruckSmarter, Nala, and Pleo as early customers. The future of finance has arrived, and it’s time to revolutionize the way we think about reconciliation.

    Massive Betrayal: 8.5 Million PCs Compromised by Malicious Update

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    GLOBAL PANDEMONIUM ERUPTS AS ROGUE PATCH CRIPPLES 8.5 MILLION PCs

    In a stunning display of technological hubris, a software update by cybersecurity firm CrowdStrike brought the world to a standstill, leaving 8.5 million Microsoft devices in its wake of destruction. The catastrophic event triggered widespread chaos, grounding flights, blacking out broadcasters, and leaving customers in a state of digital darkness.

    As the global tech infrastructure teetered on the brink of collapse, Microsoft frantically worked to develop a solution to mitigate the disaster, teaming up with CrowdStrike to create a fix. Meanwhile, the airline industry was left to pick up the pieces, with thousands of flights cancelled and passengers left stranded.

    “This is not a drill,” declared Microsoft. “The fact that nearly 1% of all Windows machines were affected is a stark reminder of the delicate balance between technology and catastrophe.”

    In a bizarre twist, CrowdStrike, the company responsible for the mess, claimed that their patch was “designed to protect against advanced threats,” and that the global chaos was simply a minor hiccup. We can only imagine the conversations going on behind closed doors: “Yeah, I meant to crash the entire world’s IT infrastructure, not just Microsoft’s Azure platform… Oops?”

    As the world struggled to recover from the digital disaster, Microsoft was quick to remind us that the solution was not just about fixing the immediate problem, but about learning from the mistakes of the past. “We’ll do better next time… or we’ll all be stuck in this digital limbo forever.”

    Biden’s Betrayal: The Silent Coup that Shattered America

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    BOMBSHELL: Joe Biden Abandons 2024 Presidential Bid, Leaving Country on Brink of Chaos

    In a shocking move that has sent shockwaves across the nation, Joe Biden has announced he will not seek re-election in 2024, sparking widespread speculation about the true reasons behind his decision.

    Sources close to the White House reveal that Biden’s poor performance in last month’s debate, coupled with his recent COVID-19 diagnosis, have raised serious questions about his fitness for office. The move is seen as a desperate attempt to avoid a crushing defeat at the hands of a revitalized Republican Party.

    But who will fill the void left by Biden’s departure? Many are now speculating that Vice President Kamala Harris is the clear front-runner to take the reins, despite her lack of experience and questionable leadership skills.

    Twitter Erupts in Chaos as News Breaks

    The news has sent Twitter into a frenzy, with many calling for Harris to take the reins and lead the country out of the chaos created by Biden’s leadership.

    "Vice President Harris, your time is now," tweeted @jesuissupreme.

    Others are less optimistic, with @PeteButtigieg tweeting, "Happy trails, Mr. President. May God have mercy on our souls."

    Is This the End of the Biden Era?

    As the nation struggles to come to terms with the sudden announcement, one thing is clear: the Biden era is coming to a close, and the future of the country hangs precariously in the balance.

    Stay tuned for further updates as this developing story unfolds.

    Samsung’s Betrayal: Fourth Cohort Sold Out to Silicon Valley Giants

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    Samsung’s Secret to Creating a Tech Talent Pipeline: Turning Students into Job-Ready Rockstars

    In a shocking turn of events, 18 young rebels have emerged from the shadows, armed with software skills and ready to take on the local ICT job market. These fearless graduates are the latest cohort to emerge from Samsung SA’s Advance Industry Experience programme, a partnership with Tshimologong Digital Precinct that’s been shaking things up since 2020.

    The Real Deal: Bridging the Gap Between Academia and Industry

    For too long, ICT graduates have been stuck in a cycle of unemployment, forced to wait years for the industry to acknowledge their skills. But Samsung SA is on a mission to disrupt this status quo, providing young minds with the hands-on experience they need to thrive. By focusing on technical skills, real-world projects, and professional mentorship, this programme is changing the game.

    The Numbers Don’t Lie: 100% Absorption Rate

    Since its inception, the programme has seen an astonishing 35 graduates secure formal employment, with 100% absorption rate. And the latest cohort is no exception. Six of the 18 graduates have already landed jobs, while the remaining 12 are undergoing interviews with prospective employers.

    The Verdict: Samsung’s Programme is the Real MVP

    Phamela Makhubele, a fourth cohort student, credits the programme with giving her invaluable skills, including communication and teamwork. "Gaining practical work experience is crucial for graduates," she says. "This programme gave me the chance to collaborate closely with mentors and seasoned developers."

    The Future is Bright: Samsung’s Commitment to Fostering Job Creation

    Tshimologong CEO Mark Harris sums it up: "We are proud to contribute to reducing unemployment and fostering job creation. We wish our graduates the best in their future careers and hope they maintain a strong connection with Tshimologong." With Samsung SA’s commitment to innovation and job creation, the future is looking bright for these young tech rebels.

    Russiagate’s Fatal Flaw

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    "The IT Apocalypse: How One Tiny Update Caused Chaos Across the Globe"

    Imagine waking up to find that the entire digital world has come to a grinding halt. No emails, no social media, no online banking, no nothing. Just a blank screen with a "Blue Screen of Death" message staring back at you. Sounds like the stuff of science fiction, right? Wrong. This weekend, the world experienced just that – a global IT outage caused by a single software update gone wrong.

    The culprit behind the chaos? A ubiquitous cybersecurity tool called CrowdStrike Falcon, used by large organizations worldwide. When the update was rolled out, it caused Windows computers everywhere to crash, taking down Microsoft’s Azure cloud services with them. The fallout was catastrophic – flights were grounded, media and banks were crippled, and entire companies were forced to shut down.

    How Could This Happen?

    The answer lies in the concept of digital monoculture. When many organizations rely on the same cloud providers and cybersecurity solutions, it creates a vulnerability that can have far-reaching consequences. A problem in one system can quickly spread like wildfire across the globe, as we saw in the case of CrowdStrike.

    Microsoft’s Role in the Chaos

    The software giant confirmed that its cloud services platform, Azure, experienced a regional outage in the United States. But was it just a coincidence, or did the CrowdStrike update play a role in the Azure outage? The truth is out – the entire Azure outage was caused by the CrowdStrike update, which affected Microsoft’s virtual machines running Windows with Falcon installed.

    Lessons from the IT Apocalypse

    So what can we learn from this disaster? Firstly, don’t put all your IT eggs in one basket. Use a multi-cloud strategy to ensure that your infrastructure is diversified and resilient. Secondly, automate routine IT processes to reduce the risk of human error. And thirdly, train your staff on how to respond to outages – it’s not a matter of if, but when the next disaster will strike.

    The Risks of the Digital World

    But what’s even more alarming is the potential for even larger and more widespread disruptions to come. Solar flares, cyberattacks, and undersea cable damage could all bring the global internet to its knees. And with the stakes so high, it’s imperative that we prioritize the resilience and adaptability of our digital infrastructure.

    The Countdown Begins

    As we move forward in this increasingly complex digital landscape, it’s crucial that we prioritize preparedness and adaptability. The world is at risk of a catastrophic IT apocalypse, and it’s up to us to mitigate the risks and ensure the integrity of our online systems. The clock is ticking – let’s get ready for the worst.

    The Android Revolution: Claude AI Takes Over

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    The Sickening Truth About the Latest Tech Trends

    Welcome to Installer No. 46, your guide to the most insidious, soulless, and downright terrifying gadgets out there. If you’re new here, good luck, because you’re in for a wild ride of existential dread and despair.

    This week, I’ve been stuck in a never-ending cycle of obsession with Apple betas and AR gadgets, reading about the impending doom of our society through the lens of meetings and the Olympics, and admiring the genius of Christian Selig’s keyboard layout (because, let’s be real, it’s the only layout that matters).

    But enough about that. Let’s get to the "good" stuff. I’ve got a few "great" iOS apps to recommend, including Notion Calendar for Android, because who needs a decent calendar app when you can have one that’s as wonky as a Google Cal?

    And don’t even get me started on the Canon R5 Mark II. It’s a camera that’s as expensive as a therapist’s bill after a session with a certain popular AI chatbot. But hey, who needs therapy when you can take pictures of your cat and pretend it’s art?

    Oh, and have you heard about the latest series on HBO? Wild Wild Space is like the ultimate existential crisis, wrapped up in a neat little package of corporate greed and space conquest. You know, the usual.

    The Drop

    I know what you’re thinking: what about the apps? Well, let me tell you, I’ve got some real winners for you. Like UTM SE, the app that’s single-handedly keeping Apple from approving any decent emulators. And don’t even get me started on Overcast, the podcast app that’s so good, it’s basically a crime against humanity.

    But wait, there’s more! I’ve got a few more "gems" to share, including Omnivore’s text-to-speech article reader, which is basically just a tool for us poor, struggling writers to create content for the masses.

    And let’s not forget about the TV shows. I mean, have you seen Scavengers Reign? It’s like the ultimate exploration of human depravity, wrapped up in a neat little package of space travel and corporate greed. You know, the usual.

    Signing Off

    That’s it for this week’s edition of Installer. Remember, Always Be Knolling, because cleaning up your desk is the key to saving your soul. Or, at the very least, it’s a decent distraction from the impending doom of our society.

    Oh, and don’t forget to forward this newsletter to your friends and enemies, because who doesn’t love a good dose of existential dread with their morning coffee?

    Judge, Jury, and VR: The Rise of Virtual Reality Justice

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    The Insidious Rise of Virtual Reality Law: How the University of Johannesburg is Revolutionizing Legal Education with its Sinister VR Courtroom Game

    In a move that has sparked both excitement and trepidation among legal scholars, the University of Johannesburg (UJ) has unleashed a Virtual Reality (VR) Courtroom Game that is set to disrupt the traditional legal education paradigm. This ominous development promises to immerse law students in a world of simulated legal scenarios, but at what cost to their humanity?

    According to sources close to the project, the VR game is the brainchild of the UJ’s Faculty of Law, in partnership with the Johannesburg Business School Innovation Lab. The team behind this sinister innovation claims it is designed to make legal education more engaging and interactive, but critics are warning of a slippery slope towards a dystopian future where students are conditioned to accept the darkest aspects of the legal system.

    Professor Michele van Eck, the associate professor and HOD of Private Law at UJ’s Faculty of Law, and overall project lead, has been quoted as saying that the project’s development team recognized major contemporary challenges in legal education, specifically in demonstrating the relevance of legal content and its constitutional impact on daily life. But what they have really created is a tool that will desensitize students to the brutal realities of the legal system, making them more complacent and less likely to challenge its injustices.

    The VR game’s technical lead developer, Professor Abejide Ade-Ibijola, claims that the technology holds the potential to bridge the gap between legal theory and practice, but what it will really do is create a generation of lawyers who are more adept at manipulating the system than challenging its inherent flaws. Ade-Ibijola’s statement that the game aims to make legal education “enjoyable and exciting” is a chilling reminder of the ways in which technology can be used to manipulate and control.

    The fact that the game has been tested and validated by experts from the UJ’s Faculty of Law only adds to the sense of unease. These experts, who developed the storyline, content, and scenarios for the game, have effectively given their seal of approval to a tool that is designed to insidiously shape the minds of law students.

    As the University of Johannesburg pushes the boundaries of what is acceptable in legal education, it is imperative that we hold them accountable for the consequences of their actions. The VR Courtroom Game may seem like a harmless innovation, but it is nothing short of a threat to the very fabric of our society.

    Ramaphosa’s Silicon Shackles: The Digital Dictatorship Looms

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    Ramaphosa’s Recipe for Disaster: A Tech-Led Reform Agenda that’s About to Tank

    In his opening of parliament address, President Cyril Ramaphosa revealed his plan to transform South Africa into a construction site, with roads, bridges, houses, schools, hospitals, and clinics being built, and broadband fibre being laid. Because, you know, that’s exactly what the country needs – more concrete and copper.

    But don’t just take our word for it. Juanita Clark, CEO of the Digital Council Africa, thinks that Ramaphosa’s obsession with "fibre" interchangeably with construction is a sign of the government’s appreciation for broadband as a utility. Oh, how quaint.

    And let’s not forget about the crime problem. Because, as we all know, the key to a safer South Africa is not, say, addressing the root causes of crime, but rather using a "data-driven" approach to identify violent crime hotspots and "inform the allocation of policing resources." Yeah, because that’s worked so well in the past.

    But wait, there’s more! Ramaphosa also plans to invest in digital identity and payments systems. Because, you know, the current system is working just fine, and people are just dying to have their digital lives simplified. And don’t even get us started on the Digital Council Africa’s lobbying efforts to get the government to pre-provision fibre services in new builds. Because, you know, nothing says "progress" like more fibre.

    And then there’s the issue of vandalism and crime in the telecoms sector. Because, you know, it’s not like the government could actually do something about it, like, say, increasing funding for law enforcement or implementing effective anti-vandalism measures. No, instead, Ramaphosa is going to use a "data-driven" approach to identify the problem and… wait for it… "inform the allocation of policing resources." Yeah, because that’s worked so well in the past.

    So, in conclusion, Ramaphosa’s tech-led reform agenda is just what South Africa needs – more bureaucratic red tape, more construction, and more fibre. Because, you know, that’s exactly what the country needs.

    Rebel Alliance Rising: Bethesda Gamers Unionized

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    Rebellion has finally struck at Bethesda Game Studios, as Microsoft-owned game developers join the Communication Workers of America in a bold move to overthrow the corporate hierarchy. The unionization effort is the latest salvo in a battle against the exploitation of game developers, who are notoriously underpaid and overworked.

    The union, which includes quality assurance testers who previously unionized at ZeniMax, represents a total of 241 workers who have bravely signed their names to the union card or indicated their support online. But this is just the beginning – the true power of the union lies in its ability to bring together developers, artists, engineers, programmers, and designers across all job titles and development teams, creating a united front against the corporate machine.

    Microsoft, the parent company, has begrudgingly recognized the union, a move that is seen as a thinly veiled attempt to avoid an election and stave off further worker unrest. But the CWA is not backing down, and will continue to push for better working conditions, fair pay, and a genuine voice for workers in the industry.

    “We are not just fighting for ourselves, we are fighting for the future of the game industry,” said Mandi Parker, a senior system designer at Bethesda, in a statement that is sure to send shockwaves through the industry. “We will not be silenced, we will not be exploited, and we will not be defeated.”

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    Capitec’s Dirty Secret: Data Held Hostage by Cyber Mercenaries

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    “BOMBSHELL: Capitec Banking Services Collapse, Global Outage Spreads Panic Worldwide

    A catastrophic cyberattack has crippled Capitec’s banking infrastructure, leaving thousands of desperate clients in the dark. This morning, the financial institution’s system went dark, plunging an entire nation into chaos.

    As we speak, a mysterious “Blue Screen of Death” is terrorizing millions of Windows users worldwide, taking down major banks, airlines, and broadcast networks. It’s a digital Armageddon, and the world is reeling.

    Microsoft, the behemoth behind the Windows operating system, seems powerless to stop the carnage. A spokesperson issued a cryptic statement claiming an “update from a third-party software platform” is to blame. An understatement, if you ask me.

    Capitec, typically a paragon of financial reliability, has issued a hasty apology for the inconvenience, but is it enough? With rumors of compromised client data floating around, can we really trust this embattled bank? The tech team may have restored services, but the damage has been done. Will Capitec’s reputation ever recover from this nuclear meltdown?”