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10:30 AM ET, June 5, 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.
RELATED:
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.
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 …
Matt Rosoff / SAI: Silicon Alley Insider:
The Silliest Idea Ever: Facebook Going After Google In Search  —  Yesterday, Blue Nile and Wetpaint founder Ben Elowitz hypothesized on TechCrunch that Facebook could kill Google completely by getting into the search business.  —  I heard the same idea floated at a dinner for tech journalists hosted …
RELATED:
Ben Elowitz / TechCrunch:
How Facebook Can Put Google Out of Business  —  Editor's note: Guest author Ben Elowitz (@elowitz) is co-founder and CEO of Wetpaint, an online publisher with an audience of 10 million monthly uniques, and author of the Digital Quarters blog.  Prior to Wetpaint, Elowitz co-founded Blue Nile, the online retailer of luxury goods.
Discussion: @scottbreynolds and SAI
John Hiesler / Edible Apple:
Vandals plaster Windows Logo on upcoming Apple Store in Hamburg, Germany  —  On Friday morning, folks walking past the upcoming Apple Store in Hamburg, Germany were greeted with some Banksy inspired nerd vandalism on the side of one of the building's construction barricades.
Kevin Fox / fox @ fury:
My guesses on the huge changes Apple will unveil at WWDC  —  I get the feeling that the announcements at next week's Apple WWDC are going to represent the same kind of fundamental shift in Apple's offering that the iPod did in 2001.  —  I don't have any inside info, and I make a point …
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:
pastebin.com:
LulzSec versus FBI Affiliates + Whitehats
Niall Harbison / The Next Web:
McDonald's Brilliant Interactive Billboard Campaign  —  We thought we had seen every type of app and interactive billboard campaign under the sun until we came across this brilliant one from Mcdonald's that the company ran in Sweden recently.  The concept is a simple one in that users …
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 …
Electronista:
AT&T working on Apple mini-SIM, sees low Windows Phone sales  —  AT&T's wireless head Ralph de la Vega in an interview late this week said his company was also joining in Apple's plan to develop an even smaller SIM card.  He hesitated to directly make the link with Apple, like France Telecom's CEO did …
TechEye:
Taipei insists Apple and Google give seven day free trial for apps  —  On the last day of Computex 2011, Apple and Google were hit by a bombshell when consumer forces in the capital, Taipei City, dictated that both American firms offer a seven day free trial on apps for the machines that use their operating systems.
 
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 More Items: 
Fred / A VC:
Investing In The Cultural Revolution
Discussion: @semilshah
Arik Hesseldahl / AllThingsD:
Everybody Chill! The Nvidia-Microsoft Pact Is Actually 11 Years Old
Rip Empson / TechCrunch:
Heyzap Brings Social Discovery And Check-In For Games To The iPhone
Wall Street Journal:
Internet Service Mostly Restored in Syria
Alexia Tsotsis / TechCrunch:
White-Hot Flickr Alternative 500px Raises $525K In Series A
Discussion: @naval and @nivi
 Earlier Items: 
David Goldman / CNNMoney.com:
How top U.S. government officials got hacked
Discussion: Examiner and New York Times, Thanks:steverubel
Naked Security / Sophos:
Sony Europe hacked by Lebanese hacker... Again