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Indian tech company eMudhra announces withdrawal from certificate business after security incident
The issue was publicized by cybersecurity researcher Scott Helme, who published a blog saying that instead of a random 384-bit number, one of the company's private keys was just the number four.
Joe Burrow has never hidden his political beliefs
Cincinnati Bengals quarterback Joe Burrow didn’t have much to say about Vice President JD Vance’s surprise visit to practice on Wednesday. But for a player who has rarely been shy about speaking his mind, his short response certainly caught some attention. Burrow said that he didn’t get a chance to meet Vance, noting that the…
Microsoft’s Mustafa Suleyman says its AI outperforms doctors on hard cases as he chases ‘medical superintelligence’
Microsoft’s new AI diagnostic system beat generalist doctors on hard cases, according to a study in Science. But most of the improvement seems to come from the AI models underneath, not from Microsoft’s system itself.
Trump asked Musk to lift Starlink slowdown, WSJ reports
Elon Musk, a critic of Ukrainian President Volodymyr Zelenskyy, had ordered the slowdown of SpaceX's Starlink, The Wall Street Journal previously reported.
JJ Watt signs a multi-year deal to stay as CBS' lead NFL analyst
JJ Watt joined play-by-play announcer Jim Nantz and sideline reporter Tracy Wolfson after Tony Romo went on leave following his July 23 arrest in Wisconsin. The former Dallas Cowboys quarterback pleaded no contest to charges of operating a vehicle while intoxicated.
Dsm-firmenich names new standalone companies formed after sale of Animal Nutrition & Health business
Dsm-firmenich is planning to form two companies, Noviwest and Panavora, from the sale of its Animal Nutrition & Health business to CVC Capital Partners.
Cherokee Nation signs historic filmmaking collaboration with UCLA
Cherokee Nation recently signed an agreement with the UCLA School of Theater, Film and Television that will support an annual reciprocal filmmaking exchange between UCLA TFT and Cherokee Film with
‘Clear political stunt’: Beshear rejects Ball’s nominees for executive ethics commission
A day after submitting nominations for an appointment to the Executive Branch Ethics Commission, Republican Auditor Allison Ball says Democratic Gov. Andy Beshear rejected her list. A spokesperson for the governor said the list was “a clear political stunt.”
Kristin Dietzel focuses on business growth, access in run for Dubuque County supervisor
Watch KCRG-TV9's full interview with Democratic candidate for Dubuque County supervisor Kristin Dietzel from October 2026.
eMudhra to Exit Global SSL/TLS Business After 8 Intermediate CA Keys Found Easily Guessable
eMudhra plans to exit global SSL/TLS certificates after eight weak CA keys were recovered, as Chrome and Firefox withdraw trust in its ECC root.
Analysis-Ex-Prosecutor’s Killing Puts Guatemala’s Crime-Politics Nexus Back in Focus
By Sofia Menchu and Diego Oré GUATEMALA CITY, Oct 22 (Reuters) - Former Guatemalan anti-corruption prosecutor Juan Francisco Solorzano Foppa was one of the country's most high profile voices denouncing alleged links between politicians and business leaders and the country's increasingly powerful ...
Rangers Defender Olwethu Makhanya Backed to Reach the Highest Level
Former Philadelphia Union coach Bradley Carnell has backed Rangers defender Olwethu Makhanya to continue progressing after his Ibrox move.
Apple Pulls Keynote, Pages and Numbers From App Store
Apple has temporarily removed Keynote, Pages, and Numbers from the App Store, just after releasing an update that added iPhone Duo support and a new Intelligent Assistant. It is not clear if the apps were removed intentionally, or if it is a bug. It is not clear if the apps were removed intentionally, or if it is a bug.
Microsoft says its AI tool is better than doctors at diagnosing conditions
‘We’re gonna build something that is indistinguishable from human performance … in the next couple of years,’ Microsoft AI CEO Mustafa Suleyman tells The Verge.
Nintendo Switch 2 Gets Its First Software-Only Jailbreak, With Help From OpenAI Codex
Sammy Hajhamid, a security researcher who goes by pepsipu online, has released ns2jb, a software-only jailbreak for the Nintendo Switch 2 that runs on the latest 23.0.1 firmware. To show it off, Hajhamid modded Mario Kart World, a Switch 2 exclusive, and also dropped Peter Griffin, Hatsune Miku,...
Politics: The Midterm Races You Aren’t Hearing About
In just a dozen days, voters across the country will cast their ballots in midterm elections that could shift the balance of power in Washington. A lot of focus has been devoted to the contested races for Congress, with billions of dollars being spent on critical statewide contests and referendums.From governors’ mansions to statehouses to local ballot initiatives, voters will make their voices heard.We gather a panel of experts and zero in on some midterm races that aren’t necessarily making national headlines.Find more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.
UTC student-athletes host Tommie F. Brown Academy students for Sports Camp Day
“Are we going to college today?” a Tommie F. Brown Academy student asked during the walk from the elementary school to UTC’s Aquatic and Recreation Center. The question set the tone Wednesday, Oct. 21, as 46 Brown Academy students in kindergarten through fifth grade spent an hour at the ARC with 14 UTC student-athletes for Sports Camp Day.
Waipahu catering business shut down over food safety violations
The Hawaii Department of Health shut down Adriana’s Kitchen Catering & Services LLC in Waipahu on Wednesday after an inspection found multiple critical food safety violations, including improper refrigeration and eggs left at room temperature.
How well have past GOTY winners sold?
We’re less than two months away from 2026’s The Game Awards, and what a year it’s been for fantastic games, including Resident Evil Requiem, Forza Horizon 6, Slay the Spire II, the Blood of Dawnwalker, and Control Resonant – just to name a few. So as we approach the end of the year, we thought we’d look back on our estimates for the GOTY winners of the past four years. In terms of revenue, Elden Ring (2022 winner), Baldur’s Gate 3 (2023), Astro Bot (2024), and Expedition 33 (2025) have generated a combined $3.8B via 73M copies sold: Let’s have a look, then. Elden Ring has generated $2B in revenue Elden Ring is a phenomenon in every sense. It’s sold a whopping 36.4M copies across Steam (50%), PS5 (35%), and Xbox (15% across console and PC). Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Elden Ring also just passed an astronomical milestone: $2B in revenue. While PlayStation and Xbox account for half of Elden Ring’s copies sold across these three platforms, they account for 57.5% of revenue. This – as ever – is due to regional pricing and the higher relative share of PC gamers in lower-priced markets. For example, around 17.4% of Elden Ring’s Steam copies sold were in China, where the game costs about 26% less than the price in the States. There’s an … interesting narrative going around these days that console gamers are only interested in ball-and-gun games and have the patience for little else. Well, Elden Ring’s impressive sales prove that is simply not true, and across all platforms. What’s more, over 9.8M people have played Elden Ring for over 100 hours, with nearly 3.5M people getting all of the achievements and trophies. For reference, 10.9% of Elden Ring’s PlayStation players have the platinum trophy, while 10.5% of players on Steam and 3.9% of Xbox players unlocked all the achievements. Git gud, Xbox players! Of the 1.5M people who played Elden Ring on PlayStation last month, 4% also played Dark Souls 3 last month, 4% played Bloodborne, and 3% played Sekiro. There’s those Soulsborne diehards for you. By many accounts, including my own, Elden Ring is one of the best games of all time. It’s an evergreen seller that will continue to be a cash cow for Bandai and FromSoftware for years to come. Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Elden Ring has sold another 2M copies across Steam, PlayStation, and Xbox this year, generating almost $110M. This means it’s outperforming many of this year’s high-profile releases. Even Elden Ring’s standalone run-based PvE spinoff, 2025’s Nightreign, has sold 7.8M copies and generated $282M in revenue. Baldur’s Gate 3 is another billion-dollar-plus banger Another cross-platform phenomenon is Baldur’s Gate 3, which has sold 23.2M copies and generated over $1.2B in revenue. About 18.7M of these copies (80.6%) are via Steam, 2.9M via PS5 (12.7%), and 1.6M (6.8%) via Xbox. Around 1.3M folks on Steam bought BG3 before it hit 1.0. The PlayStation version launched about a month after the PC 1.0 release, while the Xbox version came four months later due to technical issues around developing local co-op on the Series S. Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Across platforms, Baldur’s Gate 3’s monthly active users have never dropped below 2M, including 2.2M MAUs last month (68.5% on Steam, 21.9% on PS5, and 9.6% on Xbox). And it still regularly brings in 280K to 400K players every day: About 1% of BG3’s Steam player base has played for over 500 hours! That’s a little under 200K people. Astro Bot is also an evergreen seller, albeit a more niche, family one Astro Bot, 2024’s winner, has now sold 4.7M copies and generated $291M in revenue. The budget, including marketing, is almost certainly under $100M, given the small Japan-based core team and three-year dev timeline. You can really see why the tides are changing toward less expensive hubs. Astro Bot is the only first-party winner on this list, but follows other first-party winners of The Last of Us Part II (2020’s winner), God of War (2018), and Breath of the Wild (2017). Around 46.6% of Astro Bot’s copies sold have been physical, which is far higher than the typical game. This makes sense for a couple of reasons: There’s a large family audience for this one, and physical boxes are an item to wrap when giving Astro as a gift. Astro has collector value for the PlayStation core (this is nostalgia-fueled platformer celebrating PlayStation’s history) Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Astro is another one of those games that continues selling over time, regularly selling more than 100K a month. It’s sold around 1M more copies this year ($60M in revenue) and is a popular title with families. We can see this using the Alinea platform’s MAU crossover tool: Astro Bot’s top #2, #3, and #4 games by crossover in any given month this year are Minecraft, Fortnite, and Roblox – without fail. The #1 title every month, though, is Astro’s Playroom, a pack-in with all PS5 consoles. For every month this year, between 20% and 30% of Astro Bot players also played Astro’s Playroom that month. So the free pack-in is a noice funnel for converting players to a full paid product. Expedition 33 sells 8.7M despite Game Pass cannibalisation Finally, we have last year’s winner – Expedition 33. The turn-based-RPG banger has generated $366M via 8.7M copies sold, with 58.8% on Steam, 35.7% on PS5, and 5.5% on Xbox. Xbox’s share of copies sold is this low due to Expedition 33 launching on Game Pass, where 4.3M people across console and PC accessed the game. A little under 700K Xbox players used their subscription to play Expedition 33 this year. That said, the game’s 1.5-year Game Pass deal ended last week on October 16, and we’re already beginning to see a positive trend on Expedition 33’s copies sold via Xbox (but the jury’s still out!). There’s understandably a lot of French pride behind this one, as France is the game’s #3 market on both Steam and PlayStation. Vive la France! One thing that stood out to me is that the GOTY winners aren’t $300M Hollywood productions made in the US. They’re mostly mid-budget studios outside the traditional AAA cost centres. Lots to think about there. Also, good games sell well; who’d have thunk it!? And there’s a whole load of them this year, with GTA 6 still to come, too. GTA just made the cutoff point for the VGAs this year. What a coincidence! Loading... Cool links and other stuff Our physical games newsletter from Tuesday was picked up by GameSpot, Eurogamer, TweakTown, and a bunch of others. We’re offering a free trial of our platform for games companies. Send us a message here, or reply right here on Substack/email, and we’ll set you up. Next week, we’ve got some exciting news regarding the future of our newsletter, so stay tuned! The last word Reply to this email – or reach out here – if you have any feedback for the newsletter – or want to request a game for us to cover. Want to see why these companies (and many others) are subscribed to Alinea? Get a free platform trial! [Alinea Analytics boasts the most accurate PC and console estimates in the business. Game makers use our platform to understand their audience, keep an eye on the competition, monitor sales trends, and spot new opportunities. We equip game studios and financial institutions with accurate data and the confidence to make smarter, data-driven decisions. Want to talk about all things games market data? We’d love to chat!]
G-Shock's Affordable "CasiOak" Successor Is Here, and It Looks a Lot Like Another Bucket-List Sports Watch
G-Shock says the 2500 series takes after its original 1983 octagonal watch. Some excited fans are convinced about another horological icon.
How both Texas parties have shifted their political ad messaging
Democrats have moved from healthcare to taxes and corruption, while Republicans have ramped up ad spending on property taxes, crime and transgender issues, an analysis of AdImpact data shows.
'Mass Effect Universe' Trailer Leaks A Day After BioWare Shutters
A short clip teases what is essentially Mass Effect 5
Birmingham AI security startup launches with $10M seed round
A Birmingham startup has raised $10 million to develop its software that polices AI agents.
Pedal to the Metal: NASA’s Psyche Heads Toward Asteroid Belt
With a successful Mars gravity assist in its rearview mirror, NASA’s Psyche spacecraft has fired up its thrusters and is accelerating to the metal-rich
In New Mexico governor’s race, Deb Haaland’s historic bid tests Democrats’ political hold
Republican contender Gregg Hull says the state is “primed for a shift.”
In New Mexico governor’s race, Deb Haaland’s historic bid tests Democrats’ political hold
Republican contender Gregg Hull says the state is “primed for a shift.”
Coast Business Council details changes and future plans
The Gulf Coast Business Council meeting provided changes as well as a look into the area's future in terms of economic development.
Coast Business Council details changes and future plans
The Gulf Coast Business Council meeting provided changes as well as a look into the area's future in terms of economic development.
United Automobile, Aerospace & Agricultural Implement Workers of America
The labor union representing workers in auto, aircraft and agricultural implement manufacturing and other industries in the U.S., Canada and Puerto Rico.
Microsoft shuts down its beloved maker space
A key part of Microsoft’s hacker culture is going away
How Pittsfield’s Reid Middle School is making STEM learning hands-on
At Reid Middle School, students built scissor lifts as Education Secretary Stephen Zrike Jr. visited during STEM Week,
Is Luis Arraez Good Fit For Yankees?
Luis Arraez is going into free agency after a great season
Funding Cuts Push Global Health Partnerships Toward Local Ownership
Speakers at IDWeek 2026 urged shifting global health partnerships from donor-recipient models to shared, locally led ownership as funding contracts.
NBA games today: Full TV schedule for Thursday, October 22
The NBA resumes with two games on Thursday. Here's how to watch today’s games, including TV channels and live stream options.
Medicaid work rules lift Molina Healthcare’s pay, CEO says
Molina Healthcare says six states are boosting the Medicaid insurers pay next year in part because of work requirements and more frequent eligibility checks.
French Stewart defends Anna Faris against ‘werewolf’ Chuck Lorre: ‘She delivered’
Stewart’s comments come after Lorre detailed his hesitance to cast Faris in the series’ lead role.
Larry Gies pledges $100M matching gift to Gies College of Business
CHAMPAIGN, Ill. (WICS/WRSP) - Larry Gies has announced a new pledge of $100 million to Gies College of Business in Champaign.
Chris Pratt says Star-Lord will return to MCU after ‘hard action’ was taken to ‘make good on that promise’
“Guardians of the Galaxy Vol. 3” ended with a cryptic teaser indicating the character would return — and Pratt says it’s almost here.
Huntington startup creates landmark-inspired pajamas and gifts
Huntington-based Oyster and Arrow creates hand-illustrated pajamas and gifts inspired by Long Island landmarks. Founded by Emily Greany, the company emphasizes local coastal motifs and has grown to 25 retail partners, with wholesale driving most of its revenue. The brand aims to expand along the East Coast while maintaining personal connections.
Joel Klatt says Big Ten-SEC football challenge is imminent
The Big Ten and SEC run college football, but as the sport tries to chart its future, the two sides haven’t found much in common. Until now? After an exhausting period of negotiations, brinksmanship, and fan unrest, college football is moving towards a 24-team College Football Playoff. The Big Ten had held out against the…
Ohio State names Chandrasekaran dean of Fisher College of Business
The Ohio State University has named Aravind Chandrasekaran (AC) dean of the Max M. Fisher College of Business, pending Board of Trustees approval. Chandrasekaran has served as interim dean of the college since June 2025, building on more than 15 years as a faculty member, scholar and academic leader at the college. He will also continue to ho...
Billie Lourd mourns mom Carrie Fisher on her posthumous 70th birthday
NEW YORK — Billie Lourd would have loved to celebrate her mother Carrie Fisher’s 70th birthday with joy, but instead found herself bereft all over again on Wednesday, 10 years
Health insurance gaps leave families struggling with costs, survey finds
A new survey from GoodRx finds that even people who have health insurance are increasingly underinsured.
Health insurance gaps leave families struggling with costs, survey finds
A new survey from GoodRx finds that even people who have health insurance are increasingly underinsured.
Witkoff faces backlash for praising Putin as a ‘humanitarian’
The comments were swiftly condemned by U.S. lawmakers who view Russian President Vladimir Putin as responsible for the brutal war in Ukraine.
Irondale cuts fire protection water bills after businesses report massive rate increases
IRONDALE, Ala. (WBMA) — After an Irondale business reported its monthly fire protection water bill skyrocketed from $78 to more than $1,700, city leaders have a
“Carrie” officially renewed for season 2 after Mike Flanagan teased 3-season plan
“Mike Flanagan and I are excited about what comes next. It’s bound to be thrilling,” said Stephen King.
‘Carrie’ season 2 renewed after Mike Flanagan teased 3-season plan
‘Carrie’ season 2 is officially a go after Mike Flanagan teased a 3-season plan for his adaptation of the famed Stephen King novel.
Leavitt opens up on helping Trump find new press secretary after Zacharia debacle: 'Wasn't for her'
Karoline Leavitt says she's helping Trump find a new press secretary after Katie Zacharia lasted just five days in the demanding White House role.
Baton Rouge startup selected for national health tech competition
Baton Rouge health technology startup Chrysalis is among 15 teams selected to participate in a national competition focused on using AI to help people living with chronic, difficult-to-diagnose illnesses. The company, co-founded by husband-and-wife duo Brent and Brittany Martin, will present its flagship product, Chrysalis Health Spaces, Thursday afternoon during the final demonstration of the […]
Ava Max, Stephani Parker highlight Sunday’s gameday entertainment
Multi-platinum singer-songwriter Ava Max will perform at halftime while Stephani Parker will perform the National Anthem.
Alumnus honors his father, a longtime Marquette professor, with $2 million gift to advance research in biological sciences
President Kimo Ah Yun announced today that a $2 million gift from alumnus Nanda Alapati will advance undergraduate and graduate research in biological sciences.
eMudhra kills its certificate business after researchers cracked its private keys in under a second
eMudhra is shutting down its SSL/TLS certificate business after researchers cracked its intermediate private keys in under a second, prompting global browser bans.
Entertainment this week: Tahoe City Zombie Crawl, Steely Dead and more
Friday, October 23 2026 Business Walks – Incline Village. Description Tahoe Property Center October 19-23, the Tahoe Prosperity Center and partners from across the region will visit businesses around the Lake for the 2026 Tahoe...
Kettering Health Pharmacist Receives Ohio Resident of the Year Honor
Just months after returning to Kettering Health as a clinical oncology pharmacist, Annie Weckesser has received one of Ohio's top honors for pharmacy residents.
Henrico Planning Commission advances proposed marijuana business regulations to board of supervisors
A new package of zoning restrictions on recreational marijuana businesses will advance to the Henrico Board of Supervisors, after the Henrico Planning Commission blessed the proposal Oct. 15. Commissioners voted unanimously for approval after only a few questions and no comments from the public. Supervisors will consider the regulations during
Apple Will Label Apps 'Made for iPhone Duo' in App Store
In its press release highlighting apps that have been optimized for the iPhone Duo, Apple said the App Store will label apps that are "Made for iPhone Duo". In order for an app to be optimized for the iPhone Duo, the developer needs to build it with the iOS 27.1 SDK or later. Apps optimized for the iPhone Duo fill the entire inner display, and the app's toolbar appears vertically below the status bar.
Fantasy football start-sit Week 7: Rhamondre Stevenson, TreVeyon Henderson
Some start or sit advice for Patriots RB's Rhamondre Stevenson and TreVeyon Henderson.
CBS Sports gives Michigan football harsh midseason grade
Michigan football receives a failing grade from CBS Sports after a disappointing start to the 2026 season.
Opinion: In D.C. Schools, How the Science of Reading Offers a Blueprint for Math
Students in the nation’s capital posted gains in math and reading for the fourth straight year, according to the results of statewide accountability tests released last month. It was the latest piece ...
Tunisia proposes 50% insurance subsidy for Africa exports
Tunisia plans to cover 50% of the insurance premiums for business exports to African markets under its proposed 2027 budget bill, with the provisions applying for 12 months after the law takes effect…
Through Pioneers and Slow Progress, America's Relationship to Women's Sports Continues to Evolve
LOS ANGELES (AP) — Athletes and fans of women's sports across the United States have found no shortage of reasons to celebrate: historic TV ratings, changing attitudes toward female players, high-profile wins for equal opportunities and pay. After decades of disparity and sometimes outright scorn ...
Can fantasy managers trust Rhamondre Stevenson tonight?
On paper, Rhamondre Stevenson looks like a safe fantasy bet in Week 7 on Thursday Night Football. Of course, the same could have been said a year ago.
Noteworthy Arms to Consider as Padres Offseason Acquisitions
The San Diego Padres' pitching staff was one of many highlights for the organization in 2026, headlined by a remarkable turnaround from the starters after the All-Star break. With the late-season returns of Nick Pivetta and Joe Musgrove from the injured list, San Diego's front office still remains focused on acquiring additional starting pitching for …
NFL might bring massive change to replay review mid-season
Broncos head coach Sean Payton predicted in July that the NFL would mirror the UFL-style officiating transparency within the next two to three years. “And I think every once in a while the benefit of this other league we have, I think quite honestly it’s been helpful for our league,” Payton told Jason La Canfora…
“Golden Bachelor ”couple Mel Owens and Peg Munson split after nearly 1 year together
“Even when there’s love, it just doesn’t turn out the way that we hoped.”
Doc Maker Rocky Mudaliar Signs With Verve (Exclusive)
His Abrupt Entertainment produced the celebrity documentary ‘Funny Money: The Dane Cook Story,' about the comedian and his family's stunning financial betrayal.
3 Titans players who could help replace DT Jordan Elliott
The Tennessee Titans released DT Jordan Elliott after a disturbing situation; we have 3 players who could replace him.
Alabama governor’s race could be surprisingly competitive, prominent political forecaster says
Sabato's Crystal Ball shifted Alabama's governor's race from "Safe Republican" to "Likely Republican."
FDA has finalized its guidance on apps related to drugs
In this edition of STAT Health Tech: FDA's guidance on prescription drug use-related software, and telehealth pushing GLP-1s for addiction.
J.J. Watt officially announced as CBS Sports' lead NFL game analyst, replacing Tony Romo
J.J. Watt was promoted to CBS' top broadcasting crew after Tony Romo was placed on leave.
J.J. Watt gets permanent role as top NFL game analyst with CBS
Watt took over the No. 1 game analyst role after CBS put longtime analyst Tony Romo on a hiatus this summer.
Unassuming historic Lafayette house, business destroyed by fire
The history of the small building at 309 N. Fifth St. destroyed by fire includes a time as a Chinese laundry and a visit from a famous movie star.
JJ Watt Named CBS Sports’ New Lead NFL Analyst in Multi-Year Deal
JJ Watt, the former defensive end, will take on one of the biggest on-air roles in sports after officially being named the new lead NFL analyst for CBS Sports, being handed the post following the exit of his predecessor, Tony Romo. Watt will continue to call CBS’ top games alongside Jim Nantz and Tracy Wolfson …
College Football SEC power rankings entering Week 8
Ranking the top teams in the SEC heading into Week 8 of the college football season.
Indian firm eMudhra exits global digital certificates business after vulnerability disclosure
Oct 22 (Reuters) - Indian digital trust services provider eMudhra on Thursday said it would voluntarily withdraw from the global SSL/TLS certificate business, following an incident in which its
Europe’s moderates must stop treating politics as a spectator sport
While centrists have retreated to myriad bubbles, extremists turn up, join up and organise
Why we’re still so obsessed with Elizabeth Holmes
You Can See Everything, a documentary about the disgraced biotech company founder Elizabeth Holmes, has enjoyed a record-breaking opening in the US. It is a testament to how fascinated we remain by the convicted fraudster, but what is behind the enduring appeal? US technology editor Blake Montgomery tells Madeleine Finlay why Holmes continues to fascinate us, and reflects on whether the Theranos scandal has had a permanent impact on Silicon Valley
A Typography Geek Pointed Out Something About The Space Shuttle Discovery And Now I Can't Unsee It
Even though I was born in the Apollo Era, barely, the spacecraft that I think had the most influence on my childhood had to be the Space Shuttles. I remember poring over diagrams and drawings of the shuttles in National Geographic foldouts, where they even took my attention from the Forbidden Nipples seen on some of the […]
Introspection required if EU Inc fails, says start-up lobbyist
European start-ups have a new voice in Brussels. Startups for Europe, created from the merger of lobby groups Allied for Startups and the European Startup Network, is hoping to harness the momentum behind EU-Inc, a campaign that united start-ups and investors behind demands for a new pan-European company regime.At a launch event for the new association in Brussels on October 1, the mood was remarkably upbeat compared to a typical Eurobubble gathering, more Silicon Valley than Schuman roundabout.When asked whether this reflects a feeling that Europe is on the right track, chief executive Serena Borbotti-Frison said it’s a “scary” moment as the continent looks to boost its competitiveness amid a new technological arms race.“What is at stake is quite intense, and the way we can answer is by delivering, but also with hope,” she told Science|Business. “It’s what our industry does. It’s not about identifying a pain point and then saying it’s too hard.”For many in the start-up community, that sense of hope is dwindling. In March, the European Commission presented its proposal for EU Inc, naming its initiative after the grassroots campaign.EU Inc was meant to be a gamechanger: the ability to incorporate within 48 hours for less than €100 and scale up across Europe; a harmonised stock option regime enabling start-ups to compete for talent; and simplified insolvency procedures for innovative start-ups to reduce the cost of failure.However, haggling by EU governments has raised concerns that EU Inc will be stripped of the very features, including stock option harmonisation, that are meant to make it attractive for companies.“I fear we are proving to ourselves that the model doesn’t work,” Borbotti-Frison said of the policymaking process. “Everyone agrees we should have EU Inc. Everyone agrees it’s hard to scale and we need to scale to answer the competitiveness [challenge], and still we cannot deliver? [. . .] What does that say about ourselves?”The Commission has made EU Inc a cornerstone of its single market reform, and has agreed with the European Parliament and the Council of the EU to target an agreement by the end of 2026. However, several points are currently holding up an agreement, including national rules around employee participation in management decisions, and the provision that employee stock options always be taxed at the point of sale. Some EU governments have reportedly pushed back on the Commission’s choice of legal basis, contending that anything related to taxation requires unanimity in the Council.Trade unions have also protested against EU Inc, fearing it will be exploited by companies looking to undermine workers’ rights.“If this doesn’t work, it’s introspection time, on the way our institutions work, maybe the way our lobbies work, and maybe the way the cooperation between them works,” Borbotti-Frison said.“Is it in the national interest? Is it a gap between political will and technical ability to operate? Is it speed? I don't know, but something needs to be fixed.”Ahead of last week’s European Council meeting, EU-Inc campaigners tried a new strategy: appealing directly to EU presidents and prime ministers. In an open letter, they urged EU leaders to “step in and give your negotiating teams a clear mandate to change course and reverse their objections to the Commission’s original proposal.”Lessons from EU-IncLike its predecessors, Startups for Europe will represent national start-up associations, but it is also targeting investors. The founding sponsors are venture capital firm Atomico and EQT, the investor selected earlier this year to manage the €5 billion Scaleup Europe Fund.It also wants to harness the knowledge and cross-border experience of European success stories. “Take the list of the 100 biggest unicorns in Europe. We are speaking to all of them,” Borbotti-Frison said. The association plans to publish a full list of supporters following the Slush tech conference in Helsinki in November.Andreas Klinger and Simon Schaefer, two key figures in the EU-Inc campaign, are both on the board of the new association, and Startups for Europe wants to take the lessons from their campaign.What was unprecedented about EU-Inc was “how rooted it was, and how strong it was in bringing everyone on board behind one clear pain point and solution to fix it,” Borbotti-Frison said. “This is an inspiration for us, and then we need to turn it into something more systematic, more bridged in Brussels, more connected to the policymaking game, and to scale it.”If it’s possible to unite such a broad coalition, it’s because the European start-up ecosystem is now mature, she said. “Maybe it was not ten years ago. Maybe it was not five years ago. But now, it’s mature to speak with one voice.”Open and liberal EuropeThe association plans to campaign on files related to three “pain points,” Borbotti-Frison said: “start and scale in Europe, fundraise and invest in Europe, and making Europe the most innovative continent.”As well as EU Inc, she cited public procurement, the EU’s simplification push, the Savings and Investments Union, and files related to AI adoption and technological sovereignty as priorities for the coming months.What these files have in common is that they relate not to subsidies but to the framework conditions influencing the availability of mostly private, or in the case of procurement, public, funding.Related articlesEmployee participation disagreement delays MEPs’ vote on EU IncCommission urges EU governments not to water down EU IncEU’s ‘ultra-fast’ €5B scale-up fund is set up to win, says its fund managerThe budget dispute over the next Horizon Europe programme will also impact start-ups, which are supported notably through the European Innovation Council. But EU innovation funding is a drop in the ocean compared to venture capital and public procurement budgets.“If competitiveness and innovation are a priority, then the [EU budget] should reflect it,” Borbotti-Frison said. However, she added that the main question is not how much public money is invested, but “how do we create the right conditions for the market to solve the problem?”The Scaleup Europe Fund mixes both approaches, using €1 billion in EU funding to crowd in private investors and address Europe’s lack of large-scale, late-stage growth funds. “It’s a proof of concept. Ideally, then the market will do it itself,” Borbotti-Frison said.Startups for Europe is also focused on bringing an alternative political narrative. Amid competing visions for open, global markets on the one side and a protectionist Europe on the other, it wants to offer “a third voice, to say we can be proudly European and build a strong continent in a liberal economy, open to the world, and global.”It can be tempting, when thinking about how Europe can better support innovation, to look across the Atlantic. But while it’s important to compare statistics to see where Europe needs to catch up, that’s where the comparison should stop, Borbotti-Frison said. “On everything else, we need to do it our own way. We don't have the same history. We don't have the same political model. We don't have the same way of life.”Many of the key files that could benefit the start-up community, including EU Inc and the Savings and Investments Union, rely on closer integration within Europe, making it easier to operate across borders.While the Commission has made deepening the single market a political priority, support at national level is more precarious. The coming months will see pivotal elections in Spain and France, while the German government has also been coming under pressure domestically. In each country, far-right parties have been gaining ground.When asked if she was concerned the political situation could jeopardise this progress, Borbotti-Frison responded: “Of course. I would be lying if I said I wasn’t.” However, she continues to believe that cooperation is the only way forward. “Doing it alone is not the solution. It’s also not who we are, it’s not the model we are building, and it’s not the scale we need.”
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