The document discusses four new privacy and security challenges posed by the Internet of Things (IoT): 1) intimacy of devices and data, 2) physical safety issues, 3) lack of awareness about devices, and 4) complexity and scale. It proposes approaches to address these issues, including better technical solutions, user experience design, developer support, and laws/policies. The speaker is developing an open-source IoT hub operating system and exploring ways to increase awareness of devices using low-cost LED or audio indicators. Overall, the document argues that existing approaches are insufficient for IoT and innovation is needed to ensure privacy and security as IoT adoption increases.