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7:35 PM ET, June 4, 2011

Techmeme

 Top Items: 
Conor Sen / Minyanville:
Groupon is Effectively Insolvent  —  I'll start by tipping my hat to Andrew Mason.  He caught social mood just right, creating a coupon/local/flashmob hybrid business model at the perfect time, and has created the fastest-growing company on a revenue basis in American history.
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MG Siegler / parislemon:
On Grouponzi  —  While I have an account, I've never actually used Groupon.  And I may never use Groupon.  It's just not really my thing.  But the massive backlash following the company's S-1 filing (so they can IPO) strikes me as a bit odd.  —  The fast rising consensus now in certain tech circles …
David Sinsky / Yipit Blog:
Groupon S-1 Reveals Business Model Deteriorating in Oldest Markets  —  While no one has ever doubted Groupon's impressive growth - the question has always been around the defensibility of a business that has so few barriers to entry.  —  In its long awaited S-1, it's clear that Groupon has impressive topline growth.
Pascal-Emmanuel Gobry / SAI:
That Queasy Feeling You Get Reading The Groupon S-1 Doesn't Come From One Thing But From Everything  —  There are many things that feel a bit “off” in Groupon's IPO filing.  —  But the biggest takeaway from the filing, as our boss Nicholas Carlson put it in our SAIcast yesterday …
Discussion: @erickschonfeld
Arnold Kim / MacRumors:
iTunes Leaks ‘Automatic Download’ Over-the-Air Updates in iOS 5 [Updated]  —  In the days leading to WWDC, Apple's iTunes seems to have leaked a new feature that must be coming in iOS 5.  A MacRumors reader discovered (and we verified) that when asking iTunes to check your app library for updates …
Elinor Mills / CNET News:
Exclusive: CEO says hackers tried to extort data, money  —  Karim Hijazi knew his nightmare was just beginning when he saw that a mysterious e-mail had arrived in his inbox at 3 a.m. on May 26 that included his e-mail password and the subject line “Let us talk.”
RELATED:
Gizmodo:
Find Out if Your Sony Pictures Subscriber Information Was Leaked Right Here  —  Sony's been hacked again, with over a million SonyPictures.com accounts lifted, containing vital personal information like home addresses.  Is yours included?  We've got an exclusive, easy database to check.
pastebin.com:
LulzSec versus FBI Affiliates + Whitehats
Arik Hesseldahl / AllThingsD:
Everybody Chill!  The Nvidia-Microsoft Pact Is Actually 11 Years Old  —  Information Week is reporting a peculiar story about a deal between the graphics chip maker Nvidia and software giant Microsoft that effectively gives Redmond the right to match any offer for a stake worth 30 percent …
RELATED:
Erick Schonfeld / TechCrunch:
The Kno Textbook App Hits The iPad  —  Last night, Kno quietly released its first digital textbook app for the iPad.  It includes its own store of “over 70,000 titles at 30% to 50% off list” price.  And the app is a full textbook reader.  —  Kno, whose CEO Osman Rashid previously founded …
Alexia Tsotsis / TechCrunch:
White-Hot Flickr Alternative 500px Raises $525K In Series A  —  As the complaints about Flickr continue to pile on, scrappy Toronto-based service 500px continues to grow, going from 1000 users in 2009 to over 85K (around 45K of which have joined in the last three months).
Discussion: @naval and @nivi
Fred / A VC:
Investing In The Cultural Revolution  —  In a talk with Erick Schonfeld at Disrupt a couple weeks ago, we talked about what is coming next for the Internet.  Erick asked me what I thought was coming after the infrastructure and application phases of the Internet.
Discussion: @semilshah
Rip Empson / TechCrunch:
Heyzap Brings Social Discovery And Check-In For Games To The iPhone  —  Heyzap, a social discovery platform for mobile and online games, announced today that it's zapping its way onto the iPhone just in time for WWDC 2011, Apple's developer conference.  The startup will be extending …
 
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 More Items: 
Wall Street Journal:
Internet Service Mostly Restored in Syria
David Goldman / CNNMoney.com:
How top U.S. government officials got hacked
Discussion: New York Times, Thanks:steverubel
Naked Security / Sophos:
Sony Europe hacked by Lebanese hacker... Again
Jacqui Cheng / Ars Technica:
Mac RSS champ NetNewsWire sold to Black Pixel, developer moving on
Associated Press:
China calls US culprit in global ‘Internet war’
Discussion: NPR and Guardian
 Earlier Items: 
Ben Parr / Mashable!:
Twitter.com Adds Content From Amazon, Foursquare, Meetup & More
Discussion: Foursquare Blog
David Kravets / Threat Level:
U.N. Report Declares Internet Access a Human Right