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I don’t know how Henri Cartier-Bresson would have reacted to Leica replacing the optical viewfinder on his camera with an artificial display. Perhaps the French photographer and cofounder of Magnum Photos wouldn’t have cared one bit about it. Or maybe hea profound humanistwould have disliked the idea of it almost as much as I do. Cartier-Bresson once famously said that his Leica became the extension of [his] eye, prowling the streets all day, feeling very strung up and ready to pounce, determined to trap lifeto preserve life in the act of living. Thats a little harder to accomplish with Leicas new camera. Today, Leica is launching the M EV1. Its the first M camera with a digital viewfinder, meaning the Ms most distinct assetits beautiful optical viewfinderis no more. Henri Cartier-Bresson during the 1968 Paris riots.[Photo: Alain Nogues/Sygma/Sygma/Getty Images] What is the new Leica M EV1? Before we get to the new camera, it’s important to understand what came before. For the last seven decades, the soul of the Leica M has been its optical rangefinder viewfinder. For those not obsessed with cameras, this is a beautiful, entirely mechanical system of mirrors and prisms. When you look through it, you see the world directly, as if through a window, but with a ghostly double image in the center. To focus, you turn a ring on the lens, and this second image moves. When it perfectly overlaps with the main image, your subject is in focus. It’s a method that is precise, completely free of electronic lag, and creates a unique, unfiltered connection to the world. This system, first pioneered by Leica, made the M camera the tool that defined 20th-century photojournalism. Its compact, quiet, and discreet nature allowed photographers like Robert Capa to get closer to their subjects than ever before, capturing history as it unfolded without intrusion. The M was more than a camera; it was a philosophy of seeing, demanding a manual, deliberate approach that became synonymous with the craft of photography itself. At first glance, the M EV1 is undeniably an M. It has the same satisfying density, the same minimalist silhouette carved from magnesium and aluminum. But then you notice the changes. The front is cleaner, almost sterile, without its iconic rangefinder windows. The top plate is also different; the traditional ISO dial is gone, sacrificed to make room for the new electronic viewfinder’s housing. The camera is also noticeably lighter46 grams less than its rangefinder cousins, a direct result of removing the complex optical and mechanical guts of the rangefinder system. Inside, the M EV1 is built on the same foundation as the stellar M11 series. It uses the same 60-megapixel full-frame BSI CMOS sensor, a chip renowned for its incredible detail, 15 stops of dynamic range, and superb performance in low light. That sensor is paired with the company’s Maestro III processor. The company says that this combination makes the camera extremely responsive and quick. The camera also includes 64GB of internal memory, a practical feature for anyone who has ever filled a memory card at a critical moment. And then theres the entire raison dtre for this camera: the electronic viewfinder (EVF). It’s a high-resolution, 5.76-million-dot screen, which, according to Leicas claims, offers a “what you see is what you get” experience. It is, like I said, a fundamental departure from the rangefinder’s optical approximation. [Photo: Leica] The Eye of Sauron For the first time in an M, the photographer doesnt see real reality. It doesnt see kids crying, running from a napalm strike in Vietnam. It doesnt see Muhammad Alis fist. It doesnt see a sailor kissing a nurse in New Yorks Time Square. Or any of the photos taken with rangefinders that have arguably defined the 20th century. Út, Hoepker, or Eisenstaedt wouldnt have seen those scenes through their own eyes but through the filter of a display that, rather than reality itself, shows a direct feed from the sensor, showing exactly how the final image will look in terms of exposure, depth of field, and color. Not the world, but the final photograph. While showing me the new camera, Nathan Kellum-Pathe, Trade Marketing Product Communications manager at Leica USA, admitted that taking this step was a significant topic of discussion within the company. A decision that was ultimately justified by looking at the brand’s history and its current strategic goals. Read that as sell more cameras to a new public who want an easier-to-use experience. He also noted that there was historical precedent, as not every M had a rangefinder inside of it. He believes it is a good time to do it, pointing at the 70th anniversary of the M system as the right moment to show the market that Leica is open to changing what the M is defined by. This will likely rankle purists like myself (Im writing this under embargo, so there are no public reactions at this time). Kellum-Pathe insisted that the Leica M EV1 doesnt mean they were going to kill the traditional M. We’ve had 70 years of the M with the rangefinder, he says. “We will continue to have the M with the rangefinder. [Photo: Leica] [Image: Leica] [Photo: Leica] Kellum-Pathe points out that a digital viewfinder has practical advantages. It makes using wide-angle or telephoto lenses much easier, as the EVF shows the lens’s true field of view, unlike a traditional rangefinder, which is limited in its perspective. It also makes focusing with fast, shallow-depth-of-field lenses like Leica’s own Noctilux much simpler, thanks to digital tools like focus peaking (which highlights sharp areas in color) and magnification. Even the frame-line selector lever on the front of the camera has been repurposed into a customizable function button to toggle these aids without taking your eye from the viewfinder. And heck, for photographers who wear glasses, a built-in diopter adjustment wheel is a nice convenience compared to the screw-on lenses required for optical viewfinders. Its all really cool. But it is an artificial pixel wall between a photographers retina and the real world. A screen is a layer of interpretation of reality, no matter how technologically good it can be. It is not a keyhole to the real world, as the optical rangefinder is. The direct human connection to the moment gets lost. In the middle of this AI clusterfrak, the last thing I need is for yet another analog instrument to become digital. But I get it. According to Kellum-Pathe, this move is a direct response to customer demand. The market has asked for it for quite some time, he told me, explaining that many love the idea of the compact M body and its legendary lenses but are intimidated by the steep learning curve of the manual rangefinder system. The M EV1 is designed to be a bridge. It creates a new, third pillar in the M lineup, sitting alongside the analog and digital rangefinder models, offering an easier entry point into the Leica ecosystem, he argues. Next Gen Leica Priced at $8,995, the camera is also about $850 less than its rangefinder sibling, a price difference Kellum-Pathe is the result of eliminating the very object that forever defined the M: The complexity of the hand-assembled optical mechanics versus a digital panel. Much like cars getting rid of analog controls in the name of a money savings and alleged consumer demand, Leica is betting that this new model will attract a new generation of users without taking away from the purists who will always have the traditional M waiting for them. “For those who prefer the rangefinder experience, thats never going to go away,” he insists. Well, good. I sure hope so. And yes, of course the M EV1 will be a better camera for most people in most situations. The EVF is technically superior, more accurate, and more versatile than the 70-year-old optical rangefinder system it replaces. It makes the famously demanding process of shooting with an M camera significantly more accessible. It will probably sell like crazy (or as crazy as a $9K gadget can sell). The analog Leica M6 [Photo: Leica] But again, I just can’t shake the feeling that it misses the very essence of what makes the M the M. A magic that was never about technical perfection. It was about the direct, visceral connection between the photographer’s eye and the world, viewed through a bright, clear pane of glass. The rangefinder, with all its quirks and limitations, forces a different kind of seeing. Its an active, mental process of aligning frames and focusing patches, a collaboration between mind and machine. Its a peephole, not a television screen. Looking through the M EV1’s brilliant little display, as sharp and clear as it is, will always feel like watching a broadcast of reality rather than witnessing it. The digital aids, while useful, add another layer of interpretation, of noise, of things to distract you. I think of Robert Capa on the beaches of Normandy and his vision narrowed to a small, glowing rectangle in a digital viewfinder with the chaos raging around him. And I keep coming to the idea that, while the new Leica M EV 1 is probably a perfect digital camera, while it may look and click like a regular Leica M, it will never have, by definition, the same take a look through the magic hole and let’s see what comes at the end of this je ne sais quoi. And for sure, it will never be the extension of Cartier-Bresson or anyone else’s eye.
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E-Commerce
The government shutdown has reopened debate on what has been a central issue for both major political parties in the last 15 years: the future of health coverage under the Affordable Care Act.Tax credits for people who get health insurance through the marketplaces created by the Affordable Care Act, also known as Obamacare, expire at the end of the year.Democrats say they won’t vote to reopen the government until Republicans negotiate an extension of the expanded subsidies. Republicans say they won’t negotiate until Democrats vote to reopen the government. Lawmakers in both parties have been working on potential solutions behind the scenes, hoping that leaders will eventually start to talk, but it’s unclear if the two sides could find compromise.As Congress circles the issue, a poll from The Associated Press-NORC Center for Public Affairs Research found that about 6 in 10 Americans are “extremely” or “very” concerned about their health costs going up in the next year. Those worries extend across age groups and include people with and without health insurance, the poll found.A look at the subsidies that are expiring, the politics of the ACA and what Congress might do: Enhanced premium help during the pandemic Passed in 2010, the ACA was meant to decrease the number of uninsured people in the country and make coverage more affordable for those who don’t have private insurance. The law created state by state exchanges, some of which are run by the individual states, to try to increase the pool of the insured and bring down rates.In 2021, when Democrats controlled Congress and the White House during the COVID-19 pandemic, they expanded premium help that was already in the law. The changes included eliminating premiums for some lower-income enrollees, ensuring that higher earners paid no more than 8.5% of their income and expanding eligibility for middle-class earners.The expanded subsidies pushed enrollment to new levels and drove the rate of uninsured people to a historic low. This year, a record 24 million people have signed up for insurance coverage through the ACA, in large part because billions of dollars in subsidies have made the plans more affordable for many people.If the tax credits expire, annual out-of-pocket premiums are estimated to increase by 114% an average of $1,016 next year, according to an analysis from KFF. Democrats push to extend subsidies Democrats extended those tax credits in 2022 for another three years but were not able to make them permanent. The credits are set to expire Jan. 1, with Republicans now in full control.Lacking in power and sensing a political opportunity, Democrats used some of their only leverage and forced a government shutdown over the issue when federal funding ran out on Oct. 1. They say they won’t vote for a House-passed bill to reopen the government until Republicans give them some certainty that the subsidies will be extended.Democrats introduced legislation in September to permanently extend the premium tax credits, but they have suggested that they are open to a shorter period.“We need a serious negotiation,” Senate Democratic leader Chuck Schumer has repeatedly said. Republicans try to scale the ACA back, again The Democratic demands on health care have reignited longstanding Republican complaints about the ACA, which they have campaigned against for years and tried and failed to repeal in 2017. Many in the party say that if Congress is going to act, they want to scrap the expanded subsidies and overhaul the entire law.The problem is not the expiring subsidies but “the cost of health care,” Republican Sen. Rick Scott of Florida said Tuesday.In a virtual briefing Tuesday, the libertarian Cato Institute and the conservative Paragon Health Institute branded the subsidies as President Joe Biden’s “COVID credits” and claimed they’ve enabled fraudsters to sign people up for fully subsidized plans without their knowledge.Others have pitched more modest proposals that could potentially win over some Democrats. Senate Majority Leader John Thune, R-S.D., has said he is open to extending the subsidies with changes, including lower income limits and a stop to auto-enrollment that may sign up people who don’t need the coverage.The ACA is “in desperate need of reform,” Thune has said.House Republicans are considering their own ideas for reforming the ACA, including proposals for phasing out the subsidies for new enrollees. And they have begun to discuss whether to combine health care reforms with a new government funding bill and send it to the Senate for consideration once they return to Washington.“We will probably negotiate some off-ramp” to ease the transition back to pre-COVID-19 levels, said Maryland Rep. Andy Harris, the head of the conservative House Freedom Caucus, during a virtual town hall Tuesday. Is compromise possible? A number of Republicans want to extend the subsidies. Sen. Josh Hawley, R-Mo., said most people who are using the exchanges created by the ACA “don’t really have another option, and it’s already really, really expensive. So I think there are things we can do to reform the program.”Hawley said he had been having conversations with other senators about what those changes could be, including proposals for income limits, which he said he sees as a “very reasonable.”Bipartisan groups of lawmakers have been discussing the income limits and other ideas, including making the lowest-income people pay very low premiums instead of nothing. Some Republicans have advocated for that change to ensure that all enrollees are aware they have coverage and need it. Other proposals would extend the subsidies for a year or two or slowly phase them out.It’s unclear if any of those ideas could gain traction on both sides or any interest from the White House, where President Donald Trump has remained mostly disengaged. Despite the public stalemate, though, lawmakers are feeling increased urgency to find a solution as the Nov. 1 open enrollment date approaches.Democratic Sen. Jeanne Shaheen of New Hampshire has been talking to lawmakers since the shutdown began, trying to find areas of compromise. On Tuesday, she suggested that Congress could also look at extending the enrollment dates for the ACA since Congress is stalled on the subsidies.“These costs are going to affect all of us, and it’s going to affect our health care system,” she said. Associated Press writers Lisa Mascaro and Joey Cappelletti in Washington and Ali Swenson in New York contributed to this report. Mary Clare Jalonick, Associated Press
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E-Commerce
Its been a wild 24 hours for the stock prices of Americas big four publicly traded quantum computing companies, which include D-Wave, IonQ, Quantum Computing Inc., and Rigetti. Yesterday, all four quantum firms saw their stock prices fall significantly along with a broader market selloffmostly related to fears about a growing trade war with China and disappointing tech earnings. But today, shares of the Quantum Four are up on the rumors that the Trump administration is interested in taking an equity stake in quantum computing firms. Heres what you need to know. Commerce Department reportedly interested Last night, the Wall Street Journal reported that the U.S. Commerce Department was in talks with several quantum computing companies over equity stakes in those firms in return for federal funding. Specifically, the Journal said D-Wave, IonQ, and Rigetti were in discussions with the federal government about the matter. The report stated that Quantum Computing Inc. and the privately held Atom Computing were considering similar arrangements. Fast Company has reached out to all the quantum firms named in the WSJs report. IonQ declined to comment. Others did not immediately reply. The exact terms of any such deal are unknown. However, the report states that minimum federal government funding awards would be for $10 million each. It is unknown how much equity the U.S. government would want in exchange for funding, though the level of equity and the amount of funding will likely be correlated. The funding would come from the Chips Research and Development Office, which is overseen by Commerce Secretary Howard Lutnick. The Commerce Department did not immediately reply for comment. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); The next frontier in computing That the Trump administration is reportedly interested in an equity stake in Americas quantum computing firms is of little surprise. This past year alone, the administration has taken stakes in chipmaker Intel. and rare earths mining operator MP Materials. The link between these two companies is that they produce products and materialsadvanced chips and rare earth elementsthat are seen as vital to Americas national security supply chain. Intels chips power everything from navigation systems to military technology, and MP’s rare earths are needed to make the components that go into critical electronics used by the government and military. Quantum computing differs in that, as of now, quantum computers dont play a critical role in powering the tools behind U.S. economic, military, or security power. But that is expected to change in the years ahead as quantum computers advance and have the potential to be more revolutionary than even AI. Quantum computers are different than the classical computers we use today. A classical computer operates using bits, where each bit of data can either be a one or a zero. However, a quantum computer utilizes qubits, where each unit of data can represent a one and a zeroor anything in betweenat the same time. This means that quantum computers can carry out computation tasks in a matter of minutes or hours that would take a classical computer thousands of years or more to compute. Given the potential for quantum computers to revolutionize everything from materials science to healthcare to communications and security, its no surprise that countries, including the United States and China, are deeply interested in the development of this technology. Quantum Four stocks jump on Thursday After the WSJ report broke, shares of the four publicly traded quantum computing companies spiked in premarket trading on Thursday morning. As of the time of this writing, all quantum four stocks are currently up significantly, including: D-Wave Quantum Inc. (NYSE: QBTS): up 13% IonQ, Inc. (NYSE: IONQ): up 12% Quantum Computing Inc. (Nasdaq: QUBT): up 11% Rigetti Computing, Inc. (Nasdaq: RGTI): up 9% Todays price jump helps wipe out much of the losses that the Quantum Four experienced yesterday amid a broader market selloff. Yesterday, D-Wave closed 15% lower, IonQ closed down 6%, Quantum Computing Inc. lost 7%, and Rigetti lost 9%. Over the past 12 months, the stock prices of the Quantum Four have surged. As of yesterdays close, D-Wave was up 2,174%, IonQ was up 269%, Quantum Computing Inc. was up 1,215%, and Rigetti was up 2,831%
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