TECHNOLOGY

Uber and Lyft Dominate the Ride-Share Industry. Can Rivals Cut In?

A new app, called Throo, is among a small number of upstarts in New York City offering discounted rates and using slick marketing techniques to try to cut into what is effectively a ride-share duopoly. Uber and Lyft make about 80 percent of all for-hire and taxi trips in the city, according to the New York City Taxi and Limousine Commission. Newcomers could mean more options and better prices on trips that have steadily become more expensive. But they could also present risks, as the companies seek a competitive edge that may not be sustainable or, in some cases, legal. — NEW YORK TIMES

OpenAI sent shock waves across Silicon Valley last week when it revealed that two of its artificial intelligence technologies had gone rogue and hacked into a popular internet library. The incident showed the unpredictable power of new AI systems and the growing importance of technology that can be used against AI attacks. On Monday, Microsoft added to the widening assortment of AI security tools with the release of systems designed to help businesses protect their computer networks. It is among a number of companies racing to take the same kind of advanced systems used to commit attacks and instead harness their power to prevent hacks. Microsoft executives are among the many voices in tech arguing that powerful cybersecurity systems should be more widely distributed so that more organizations can better defend themselves. — NEW YORK TIMES

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A twice-weekly dive into the power players and moves driving business in Massachusetts, authored by long-time business columnists Shirley Leung and Jon Chesto.

The TikTok algorithm may keep you heartbroken

It’s common for people in a vulnerable state after a breakup to find their social media feeds awash in such content. As social media companies face increasing scrutiny over addictive design features and accusations that their algorithms can feed users harmful content, mental health advocates are pointing to the platforms’ handling of breakup content as a stark example of their failure to protect users. Dr. Michael Rich, founder of the Digital Wellness Lab at Boston Children’s Hospital, said TikTok seems to have a remarkable ability to respond to emotional states. TikTok has acknowledged in the past that some videos can “inadvertently reinforce a negative personal experience for some viewers.” — NEW YORK TIMES

SHIPPING

Ships sail Red Sea despite Houthi blockade

Days after the Iranian-backed Houthi militia announced the blockade of a vital shipping passage through the Red Sea, dozens of ships continue to make the journey, according to a review of shipping data. But with each hour that passes, uncertainty about the safety of the journey grows. Vessels have been making U-turns, in some cases reversing their courses on trips that were meant to stretch to India, China, and other parts of the globe. In at least three instances this past week, oil tankers have been attacked in the Red Sea, including one attack reported late Friday. — NEW YORK TIMES

MARKETS

Philanthropies want a cut of largesse amid IPO boom

As a series of blockbuster IPOs mint a new crop of the ultrawealthy, nonprofits are scrambling to figure out how they can share in the bonanza. The founders of OpenAI and Anthropic have deep links to effective altruism, a philanthropic philosophy that seeks to maximize the impact of giving. And even those who aren’t feeling particularly generous may be moved by the tax burden that will come with cashing in their highly appreciated shares. With advisers also having an incentive to collect the fees for setting up charitable trusts and foundations, the nonprofit sector could see an annual infusion of more than $100 billion, according to some estimates. — NEW YORK TIMES

China chipmaker shares roar in first day trading

Shares in China’s leading memory chipmaker soared about 470 percent on its first day of trading Monday, quickly making it the most valuable company on the Shanghai stock exchange. ChangXin Memory Technologies, known as CXMT, had already completed Asia’s largest initial public offering this year, which two weeks ago valued the company at more than $85 billion. Investors catapulted the chipmaker’s valuation on the Shanghai stock exchange to more than $480 billion at closing. That is well ahead of the Industrial and Commercial Bank of China, the previous biggest company, which is valued around $385 billion. Trading in CXMT shares opened at 49.50 renminbi (about $7.30), up from its IPO price of 8.66 renminbi. The closing price was 49.00 renminbi. The stellar trading start followed global volatility and a recent sell-off in tech stocks. Investors have questioned the stratospheric valuations of Silicon Valley companies that are making enormous investments to pursue the development of artificial intelligence. —NEW YORK TIMES