Warning goes out that money stored in Venmo and other cash apps not insured by the Feds

Venmo and Paypal, though it makes certain parts of our financial life much easier, are not banks and not safe places to store money. Since they are not banks, they are not federally regulated and not insured by the Federal Deposit Insurance Corp, which insurance bank accounts (savings and checking, not investments) for up to $250,000. This includes Apple Savings as not being insured, but does not include the Apple Card's Goldman Sachs savings account (paying more than most CDs at 4.15% APR) as Goldman Sachs has a Federally-recognized banking side, and thus insured by the FDIC.

I've never had more than $50 or so sitting in my Paypal account from a refund or something, and that'll be gobbled up in a Humble Bundle purchase or three, or I'll move it back into my bank.

https://apnews.com/article/venmo-paypal-cashapp-p2p-payments-deposit-insurance-f89eba2486a383160b9343e2e4e60b3f

The future is here! Scientists have beamed power from space to the Earth!

An experiment - which was successfully demonstrated on Earth - was launched into space in January. It uses solar collectors and a microwave system to beam power down to the planet, and they have been successful!

The part that I especially loved was that it was beamed to a receiver on the roof of the "Gordon and Betty Moore Laboratory of Engineering on Caltech’s campus in Pasadena." Sadly, Gordon Moore passed away about a month ago. It would have been so awesome if he'd been around to see it happen!

One thing that I wish the article had addressed, and perhaps future articles will as this one was kinda scant on details, is what is the transmission efficiency and how well do they expect it to scale up. Solar panels have enjoyed great improvements in efficiency in the last few years, and obviously they're more efficient in space. Inquiring minds want to know!!!

https://gizmodo.com/scientists-beam-space-based-solar-power-earth-first-tim-1850500731