Connect with us

Published

on

Apple clarified its App Store policy on cryptocurrencies and non-fungible tokens (NFTs).

Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images

Apple clarified its rules on cryptocurrencies and non-fungible tokens (NFTs) laying out what apps are allowed to do with these technologies.

On crypto exchanges, Apple said in updated App Store rules on Monday, that apps may facilitate “transactions or transmissions of cryptocurrency on an approved exchange.” But the app can only be offered in countries or regions where it has licensing and permission to operate a crypto exchange.

“Apps may not use their own mechanisms to unlock content or functionality,” such as cryptocurrencies or cryptocurrency wallets.

Apple has clarified the rules on NFTs, which can be a digital representation of a real-life asset such as artwork and are usually purchased using cryptocurrency.

The guidelines say apps may use in-app purchases to sell NFTs and sell services related to them, such as minting, listing, and the transferring of these tokens. Apps can also allow users to browse NFT collections owned by others so long as the apps do “not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.”

All of this means that any sort of trading service for NFTs must use Apple’s in-app payment mechanism. Apple takes an up to 30% cut of in-app payments. While this does not ban NFTs in any way, it does put a major restriction on the kind of services that can be offered involving NFTs, given the 30% slice Apple takes.

Users can view the NFTs they own within an app provided the token does not “unlock features or functionality within the app.” Users often buy NFTs as a way to access exclusive parts of a service or even as a sort of membership card for an app. But Apple is saying some of this will not be allowed.

Apple’s 30% cut has long been criticized by app makers who accuse the technology giant of running a monopoly over in-app purchases. Apple argues that control over the App Store allows it to ensure the security of apps and payments. It has also said that the App Store has birthed a successful app ecosystem allowing developers to make money.

The 30% cut was the subject of a high-profile lawsuit between Fortnite developer Epic Games and Apple.

Cryptocurrencies have had a volatile and rough year, with the whole market losing around $2 trillion since its peak in November.

Continue Reading

Technology

Meet the 21-year-old helping coders use AI to cheat in Google and other tech job interviews

Published

on

By

Meet the 21-year-old helping coders use AI to cheat in Google and other tech job interviews

A person walks past the entrance to a Google building in Dublin, Feb. 15, 2023.

Artur Widak | Anadolu | Getty Images

After landing internship offers from Amazon, Meta and TikTok, computer science student Chungin “Roy” Lee has decided to move to San Francisco.

But he won’t be joining any of those companies.

Instead, Lee will be building his own startup that offers a peculiar service: helping software engineers use artificial intelligence to cheat in their technical job interviews. 

“Everyone programs nowadays with the help of AI,” said Lee, a 21-year-old student at Columbia University, which has opened disciplinary proceedings against him, according to documents viewed by CNBC. A Columbia spokesperson said the university doesn’t comment on individual students.

“It doesn’t make sense to have an interview format that assumes you don’t have the use of AI,” Lee said.

Lee is at the forefront of a movement among professional coders who are exploiting the limitations of remote job interviews, popularized during the Covid pandemic, by using AI tools off camera to ensure they give hiring managers the best possible answers. 

The hiring process that took hold in the work-from-home era involved candidates interviewing from behind a Zoom screen rather than traveling, sometimes across the country, for on-location interviews, where they could show their coding skills on dry-erase boards.

In late 2022 came the boom in generative AI, with the release of OpenAI’s ChatGPT. Since then, tech companies have laid off tens of thousands of programmers while touting the use of AI to write code. At Google, for example, more than 25% of new code is written by AI, CEO Sundar Pichai told investors in October.

The combination of rapid advancements in AI, mass layoffs of software developers, and a continuing world of remote and hybrid work has created a novel conundrum for recruiters.

The problem has become so prevalent that Pichai suggested during a Google town hall in February that his hiring managers consider returning to in-person job interviews.

Google isn’t the only tech company weighing that idea.

But engineers aren’t slowing down.  

Lee has turned his cheating into a business. His company, Interview Coder, markets itself as a service that helps software developers cheat during job interviews. The internship offers that he landed are the proof he uses to show that his technology works.

AI assistants for virtual interviews can provide written code, make code improvements, and generate detailed explanations of results that candidates can read. The AI tools all work quickly, which is helpful for timed interviews.

Hiring managers are venting their frustrations on social media over the rise of AI cheaters, saying that those who get caught are eliminated from contention. Interviewers say they’re exhausted from having to discern whether candidates are using their own skills or relying on AI.

Clara Shih, head of business AI at Meta, on the 'agentic' future of the economy

‘Invisible’ help

The cheating tools rely on generative AI models to provide software engineers with real-time answers to coding problems as they’re presented during interviews. The AI analyzes both written and oral questions and instantaneously generates code. The widgets can also provide the cheaters with explanations for the solutions that they can use in the interview. 

The tools’ most valuable feature, however, might be their secrecy. Interview Coder is invisible to the interviewer.

While candidates are using technology to cheat, employers are observing their behavior during interviews to try to catch them. Interviewers have learned to look for eyes wandering to the side, the reflection of other apps visible on candidates’ glasses, and answers that sound rehearsed or don’t match questions, among other clues.

Perhaps the biggest tell is a simple “Hmm.”

Hiring managers said they’ve noticed that many candidates use the ubiquitous sound to buy themselves time while waiting for their AI tools to finish their work. 

“I’ll hear a pause, then ‘Hmm,’ and all of a sudden, it’s the perfect answer,” said Anna Spearman, founder of Techie Staffing, an agency that helps companies fill technical roles. “There have also been instances where the code looked OK, but they couldn’t describe how they came to the conclusion.”

Henry Kirk, a software developer and co-founder of Studio.init in New York, said this type of cheating used to be easy to catch.

“But now it’s harder to detect,” said Kirk. He said the technology has gotten smart enough to present the answers in a place that doesn’t require users to move their eyes.

“The eye movement used to be the biggest giveaway,” Kirk said. 

Interview Coder’s website says its virtual interview tool is immune to screen detection features that are available to companies on services such as Zoom and Google Meet. Lee markets his product as being webcam-proof.

When Kirk hosted a virtual coding challenge for an engineering job he was looking to fill in June, 700 people applied, he said. Kirk recorded the process of the first interview round. He was looking to see if any candidates were cheating in ways that included using results from large language models.

“More than 50% of them cheated,” he said.

AI cheating tools have improved so much over the last year that they’ve become nearly undetectable, experts said. Other than Lee’s Interview Coder, software engineers can also use programs such as Leetcode Wizard or ChatGPT. 

Kirk said his startup is considering moving to in-person interviews, though he knows that potentially limits the talent pool.

“The problem is now I don’t trust the results as much,” Kirk said. “I don’t know what else to do other than on-site.”

Google CEO Sundar Pichai during an event at the Google for Startups Campus in Warsaw, Poland, Feb. 13, 2025.

Omar Marques | Anadolu | Getty Images

Back to the Googleplex

It’s become a big topic at Google, and one Pichai addressed in February at an internal town hall meeting, where executives read questions and comments that were submitted by employees and summarized by AI, according to an audio recording that was reviewed by CNBC.

One question asked of management was, “Can we get onsite job interviews back?”

“There are many email threads about this topic,” the question said. “If budget is constraint, can we get the candidates to an office or environment we can control?”

Pichai turned to Brian Ong, Google’s vice president of recruiting, who was joining through a virtual livestream.

“Brian, do we do hybrid?” Pichai asked.

Ong said candidates and Google employees have said they prefer virtual job interviews because scheduling a video call is easier than finding a time to meet in available conference rooms. The virtual interview process is about two weeks faster, he added.

He said interviewers are instructed to probe candidates on their answers as a way to decipher whether they actually know what they’re talking about.

“We definitely have more work to do to integrate how AI is now more prevalent in the interview process,” said Ong. He said his recruiting organization is working with Google’s software engineer steering committee to figure out how the company can refine its interviewing process. 

“Given we all work hybrid, I think it’s worth thinking about some fraction of the interviews being in person,” Pichai responded. “I think it’ll help both the candidates understand Google’s culture and I think it’s good for both sides.”

Ong said it’s also an issue “all of our other competitor companies are looking at.”

A Google spokesperson declined to comment beyond what was said at the meeting.

Other companies have already shifted their hiring practices to account for AI cheating. 

Deloitte reinstated in-person interviews for its U.K. graduate program, according to a September report

Anthropic, the maker of AI chatbot Claude, issued new guidance in its job applications in February, asking candidates not to use AI assistants during the hiring process. 

“While we encourage people to use AI systems during their role to help them work faster and more effectively, please do not use AI assistants during the application process,” the new policy says. “We want to understand your personal interest in Anthropic without mediation through an AI system, and we also want to evaluate your non-AI-assisted communication skills. Please indicate ‘Yes’ if you have read and agree.”

Amazon is also taking steps to combat AI cheating. 

The company asks that candidates acknowledge that they won’t use unauthorized tools during the interview or assessment process, spokesperson Margaret Callahan told CNBC.

Chungin “Roy” Lee, a 21-year-old student at Columbia University, is the founder of Interview Coder, a startup that makes software to help computer programmers cheat in job interviews with the help of AI.

Courtesy of Chungin Lee

‘F*ck Leetcode’

If you visit InterviewCoder.co, the first thing that greets you is large gray type that reads “F*ck Leetcode.”

Leetcode is the program used by many tech companies to evaluate software engineers for technical roles. Tech companies such as Meta, Google and Amazon use it to keep tabs on the thousands of job applicants they evaluate.

“Every time I mention interviews, I get frustrated comments about Leetcode,” wrote Ryan Peterman, a software engineer at Meta, in a newsletter posted on Substack in December. Peterman said Leetcode problems are purposely designed to be much harder than what software engineers would do on the job. Leetcode is the best tool companies have to filter hundreds of applicants, Peterman wrote.

Coders said they hate Leetcode because it emphasizes algorithmic problem-solving and asks applicants to solve riddles and puzzles that seem irrelevant to the job, according to those CNBC spoke with as well as comments CNBC found from engineers across various social media platforms. Another downside is that it sometimes requires hours of work that may not result in a job offer or advancement, they said.

Leetcode served as Lee’s inspiration for building Interview Coder, he said. With the help of AI, he said, he created the service in less than a week.

“I thought I wanted to work at a big tech company and spent 600 hours practicing for Leetcode,” Lee said. “It made me miserable, and I almost stopped programming because of how much I didn’t like it.”

Lee’s social media posts are filled with comments from other programmers expressing similar frustrations. 

“Legend,” several comments said in response to some of his X posts. Others said they enjoyed him “f—ing with big tech.” 

Rival software Leetcode Wizard was also inspired by distaste for Leetcode. 

Isabel De Vries, Leetcode Wizard’s head of marketing, told CNBC in a statement that Leetcode-style interviews fail to accurately measure engineering skills and fail to reflect actual daily engineering work. 

“Our product originates from the same frustrations many of our users are having,” De Vries said.

Leetcode did not respond to CNBC’s request for comment.

Henry Kirk, a software developer and co-founder of Studio.init in New York, is considering moving job interviews to be on site in response to software engineers using AI to cheat in virtual interviews.

Photo by Krista Schlueter for Inc. Magazine

When Kirk, of Studio.init, posted on LinkedIn in February to vent about his frustrations with AI cheating, he received nearly 200 comments. But most argued that employers should allow candidates to use AI in the hiring process.

“Even the SAT lets you use a calculator,” said one comment. “I think you just make it harder to succeed on purpose when in the real world Google and gpt will always be at my fingertips.”

Lee promotes Interview Coder as being “invisible to all screen-recording softwares.” To prove its effectiveness, he recorded himself passing an Amazon interview and posted the video on YouTube. Amazon and the other companies that had made offers to Lee then rescinded them.

Lee got hundreds of comments praising the video, which YouTube removed after CNBC reached out to Amazon and Google for this story. YouTube cited a “copyright claim” by Amazon as the reason for removing the video.

“I as an interviewer am so annoyed by him but as a candidate also adore him,” former Meta staff engineer Yangshun Tay, co-founder of startup GreatFrontEnd, wrote in a LinkedIn post about Lee and his video. “Cheating isn’t right, but oh god I am so tired of these stupid algorithm interviews.”

After YouTube removed the video, Lee uploaded it once again.

Cheating as a service

Lee said he never planned to work at Amazon, Meta or TikTok. He said he wanted to show others just how easy it is to game Leetcode and force companies to find a better alternative.

And, he said, he’s making money in the process. 

Interview Coder is available as a subscription for $60 a month. Lee said the company is on track to hit $1 million in annual recurring revenue by mid-May.

He recently hired the internet influencers who go by the name “Costco Guys” to make a video marketing his software. 

“If you’re struggling to pass your Leetcode interviews and want to get a job at a big tech company, you’ve got to take a look at Interviewcoder.co to pass your interview,” the Costco Guys say in their video. “Because Interview Coder gets five big booms! Boom! Boom! Boom! Boom! Boooooom!”

Leetcode Wizard bills itself on its website as “The #1 AI-powered coding interview cheating app” and “The perfect tool for achieving a ‘Strong Hire’ result in any coding interview and landing your dream job at any FAANG company.” Leetcode Wizard charges 49 euros ($53) a month for a “Pro” subscription. 

More than 16,000 people have used the app, and “several hundred” people have told Leetcode Wizard that they received offers thanks to the software, the company told CNBC. 

“Our product will have succeeded once we can shut it down, when leetcode interviews are a thing of the past,” De Vries said. 

Lee said he’s moving from New York to San Francisco in March to continue building Interview Coder and start working on his next company.

Kirk said he understands software engineers’ frustration with Leetcode and the tech industry. He’s had to use Leetcode numerous times throughout his career, and he was laid off by Google in 2023. He now wants to help out-of-work engineers get jobs.

But he remains worried that AI cheating will persist.

“We need to make sure they know their stuff because these tools still make mistakes,” Kirk said. 

Half of companies currently use AI in the hiring process, and 68% will by the end of 2025, according to an October survey commissioned by ResumeBuilder.com.

Lee said that if companies want to bill themselves as AI-first, they should encourage its use by candidates.

Asked if he worries about software engineers losing the trust of the tech industry, Lee paused. 

“Hmm,” he mumbled.  

“My reaction to that is any company that is slow to respond to market changes will get hurt and that’s the fault of the company,” Lee said. “If there are better tools, then it’s their fault for not resorting to the better alternative to exist. I don’t feel guilty at all for not catering to a company’s inability to adapt.”

WATCH: How DeepSeek supercharged AI’s distillation problem

How DeepSeek supercharged AI's distillation problem

Continue Reading

Technology

How Facebook Marketplace is keeping young people on the platform

Published

on

By

How Facebook Marketplace is keeping young people on the platform

Meta‘s Facebook’s influence remains strong globally, but younger users are logging in less. Only 32% of U.S. teens use Facebook today, down from 71% in 2014, according to a 2024 Pew Research study. However, Facebook’s resale platform Marketplace is one reason young people are on the platform.

“I only use Facebook for Marketplace,” said Mirka Arevalo, a student at Buffalo University. “I go in knowing what I want, not just casually browsing.”

Launched in 2016, Facebook Marketplace has grown into one of Meta’s biggest success stories. With 1.1 billion users across 70 countries, it competes with eBay and Craigslist, according to BusinessDasher.

“Marketplace is the flea market of the internet,” said Charles Lindsay, an associate professor of marketing at the University of Buffalo. “There’s a massive amount of consumer-to-consumer business.”

Unlike eBay or Etsy, Marketplace doesn’t charge listing fees, and local pickups help avoid shipping costs, according to Facebook’s Help Center.

“Sellers love that Marketplace has no fees,” said Jasmine Enberg, VP and Principal Analyst at eMarketer. “Introducing fees could push users elsewhere.”

Marketplace also taps into the booming resale market, projected to hit $350 billion by 2027, according to ThredUp.

“Younger buyers are drawn to affordability and sustainability,” said Yoo-Kyoung Seock, a professor at the College of Family and Consumer Sciences at the University of Georgia. “Marketplace offers both.”

A key advantage is trust; users’ Facebook profiles make transactions feel safer than on anonymous platforms like Craigslist, according to Seock.

In January 2025, eBay partnered with Facebook Marketplace, allowing select eBay listings to appear on Marketplace in the U.S., Germany, and France. Analysts project this will drive an additional $1.6 billion in sales for eBay by the end of 2025, according to Wells Fargo.

“This partnership boosts the number of buyers and sellers,” said Enberg. “It could also solve some of Marketplace’s trust issues.”

While Facebook doesn’t charge listing fees, it does take a 10% cut of sales made through its shipping service, according to Facebook’s Help Center.

Marketplace isn’t a major direct revenue source, but it keeps users engaged.

“It’s one of the least monetized parts of Facebook,” said Enberg. “But it brings in engagement, which advertisers value.”

Meta relies on ads for over 97% of its $164.5 billion revenue in 2024.

“Marketplace helps Meta prove younger users still log in,” said Enberg. “Even if they’re buying and selling instead of scrolling.”

By keeping users engaged, Marketplace plays a key role in Facebook’s long-term strategy, ensuring the platform remains relevant in a changing digital landscape.

Watch the video to learn more.

Continue Reading

Technology

Hinge Health to go public as soon as April, source says

Published

on

By

Hinge Health to go public as soon as April, source says

Hinge Health’s TrueMotion feature.

Courtesy: Hinge Health

Digital physical therapy startup Hinge Health is gearing up to file for an initial public offering, potentially as soon as next week, CNBC has learned.

Hinge Health helps patients with musculoskeletal injuries ranging from minor sprains to chronic pain recover from the comfort of their own homes. Its IPO has been a highly-anticipated exit within the battered digital health sector, which has been reeling from the aftermath of the Covid-19 pandemic.

The IPO could happen as early as April, but timelines might still change due to uncertainty around tariffs, according to a person familiar with the matter. Hinge Health, which contracts with employers, generated $390 million in revenue in 2024, had $45 million in free cash flow and hit gross margins of about 78%, the person said.

The San Francisco startup has raised more than $1 billion from investors like Tiger Global and Coatue Management. Hinge Health had a $6.2 billion valuation as of October 2021. Physical therapy is estimated to be a roughly $70 billion market by the end of the decade.

A spokesperson for Hinge Health declined to comment.

Hinge Health CEO Daniel Perez and Executive Chairman Gabriel Mecklenburg co-founded the company in 2014 after they were frustrated by their own experiences with physical rehabilitation, according to the company’s website.

Members of Hinge Health can access virtual exercise therapy and an electrical nerve stimulation device called Enso that’s designed to serve as an alternative to pain medications like opiates. The company has been using generative artificial intelligence to scale its care team in recent years.

The company competes directly with other digital health startups like Sword Health, but Hinge Health is about four times larger than is closet competitor, the person said.

Investors will be watching closely to see whether Hinge Health’s IPO serves as a positive bellwether for the sector.

Bloomberg reported Hinge Health’s IPO plans earlier on Friday.

WATCH: The market is in a good environment for hedge funds, says Citi’s Mithra Warrier

The market is in a good environment for hedge funds, says Citi's Mithra Warrier

Continue Reading

Trending