New book, shipping May 19, from author Geoffrey Cain:

For twelve years, from 1985 to 1997, Jobs wandered the business wilderness with his new venture, NeXT. It was a period of spectacular failures, near-bankruptcy, and brutal humiliation. But out of this crucible of defeat emerged the visionary leader who would go on to create the iPod, iPhone, and iPad, transforming Apple into the most valuable company on earth.

Drawing on previously unpublished materials and new interviews with the key players, Geoffrey Cain reveals the untold story of Steve Jobs’s “lost decade” — the formative years that shaped the icon we thought we knew.

Afterword by Ed Catmull, who was obviously intimately familiar with Jobs in that era. And via Cain’s post on LinkedIn announcing the book, the foreword is by NeXT cofounder Dan’l Lewin.

Still feels a bit ridiculous to me that Markdown is now an editing mode in Notepad.

Bobby Allyn, reporting for NPR:

An editor who works for YouTube’s biggest creator, MrBeast, has been suspended from the prediction market platform Kalshi and reported to federal regulators for insider trading, Kalshi officials said on Wednesday. It’s the first time the company has publicly revealed the results of an investigation into market manipulation on the popular app.

The MrBeast employee, who Kalshi identified as Artem Kaptur in regulatory filings, traded around $4,000 on markets related to the streamer, the company said. Kalshi investigators discovered that Kaptur had “near-perfect trading success” on bets about the YouTuber’s videos with low odds, making the wagers appear suspicious, according to company officials.

Call these things what they are — prediction casinos, not prediction markets — and the problems come into focus.

Edison Research:

In 2015, AM/FM radio accounted for 75% of the time Americans spent with spoken-word audio sources. AM/FM radio was not only the most dominant spoken-word audio listening platform, but it was fully sixty-five percentage points higher than podcasts, which accounted for 10% of listening time back then. Quarter by quarter and year over year, time spent using AM/FM radio to listen to spoken-word audio has declined significantly and shifted to time spent with podcasts. As of Q4 2025, 40% of time spent listening to spoken-word is now spent with podcasts and 39% of time is spent with AM/FM radio. Not only does radio not beat podcasts by a significant margin, it now trails the on-demand platform for spoken-word audio listening.

Most of you reading this on Daring Fireball are surely thinking what I thought when I saw this (via TechCrunch): This only happened in 2025? But it goes to show just how long it takes for media consumption habits, in the aggregate, to change.

Reuters:

New York’s attorney general sued Valve, a video game developer whose franchises include Counter-Strike, Team Fortress and Dota, accusing it of promoting illegal gambling and threatening to addict children through its use of “loot boxes.” In a complaint filed on Wednesday in a state court in Manhattan, Attorney General Letitia James said Valve’s loot boxes amounted to “quintessential gambling,” violating the state’s constitution and penal law, with valuable items often hard to win and many items worth pennies.