Right now, China is consumed by an unprecedented surge of covid infections. The country’s healthcare system is stretched thin, covid treatments are in high demand, and many people are worried about themselves and their loved ones.
It’s against this backdrop that scammers are finding new opportunities. They’re taking advantage of this wave of anxiety and fear in China by claiming on social media to sell covid treatments—particularly Paxlovid, the Pfizer-developed medication that has been the most effective in preventing severe covid symptoms.
Demand for the drug has soared since authorities relaxed the country’s harsh zero-covid policies, and scammers are reaping the benefits. Read the full story.
Zeyi’s story is from China Report, his weekly newsletter shining a light on everything that’s going on in China. sign up to receive it in your inbox every tuesday.
I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology.
1 It could take a decade to clean up FTX’s mess
The US bankruptcy courts have never dealt with a disaster on this scale before. (Economists $)
+ Weirdly, Sam Bankman-Fried invested in the fund that backed his own firm. (FT $)
+ The founder is facing eight criminal counts. (Coin Telegraph)
+ What’s next for crypto. (MIT Technology Review)
2 Germany wants to hold Big Tech to account
It’s at the heart of Europe’s attempts to clamp down on anti-competitive behavior. (FT $)
+ The European Commission wants to dig into telecoms providers, too. (Reuters)
+ The EU wants to regulate your favorite AI tools. (MIT Technology Review)
3 Tesla’s “full self-driving” software isn’t living up to its promises
Footage of a dangerous pile-up in San Francisco demonstrates just how flawed it is. (The Intercept)
4 What will it take to make the US a chipmaking powerhouse?
Extremely skilled employees and prohibitively expensive machinery are just some of the obstacles. (Slate $)
+ A chip collaboration could be on the cards for the US, Canada and Mexico. (The Register)