HolidayBlogging

Tag: payments

  • Y Combinator says Apple's App Store has hindered startup growth

    Y Combinator says Apple's App Store has hindered startup growth

    Y Combinator has filed an amicus brief in the ongoing legal battle between Apple and Epic Games, arguing that the App Store has stifled startup innovation.

    We’ve reached out to legal reps for YC and Apple for comment.

    The brief comes during the years-long legal dispute. Epic Games first filed an antitrust lawsuit against the iPhone maker in 2020 in protest of Apple taking a 30% fee for every purchase made in the App Store, as well as in-game purchases. Epic claimed in its suit that Apple unlawfully banned developers from telling customers about payment alternatives to the App Store. 

    A judge ordered Apple to end its anti-steering policy, but instead, the company implemented a link program that allowed developers to link to alternative payment methods, with the app store taking a 27% fee. 

    In another complaint, Epic accused Apple of violating the court injunction against anti-steering, and in April, the judge agreed, resulting in an order for Apple to stop imposing restrictions on alternative payment solutions and collecting payment from such methods. 

    Apple is appealing that ruling, and that’s why Y Combinator has filed this amicus brief in support of Epic Games. Y Combinator is asking the court to deny Apple’s appeal. 

    “Y Combinator — and the larger venture capital community — have long been hesitant to back app-based businesses that were poor investments due to the Apple Tax,” Y Combinator wrote in its filing. “A 30% revenue share can easily be the difference between a company that can afford to scale, hire new employees, and reinvest in its product, and one that is perpetually struggling to stay afloat.” 

    Techcrunch event

    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital, Elad Gil — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $600+ before prices rise.

    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise.

    San Francisco
    |
    October 27-29, 2025

    REGISTER NOW

    With the current ruling — that Apple must allow developers to transparently offer alternative payment options — the startup investor wrote: “For the first time in nearly two decades, Y Combinator can seriously consider investing in innovative businesses that would have been impossible in the past because of the ‘Apple Tax’,” the filing continued. The Apple Tax refers to the fees Apple took from App Store purchases. 

    It went on to say that the Apple Tax was a “profound and often insurmountable barrier to entry that stifles competition and innovation at its source” and that the court should deny Apple’s appeal and allow the anti-steering rule to stand. The next argument is set to take place on October 21. 

    Correction: This article originally stated that Y Combinator is an investor in Epic Games based on a claim in another publication. This is incorrect; TechCrunch regrets the error.

    We’re always looking to evolve, and by providing some insight into your perspective and feedback into TechCrunch and our coverage and events, you can help us! Fill out this survey to let us know how we’re doing and get the chance to win a prize in return!

  • Sanofi Secures €1 Billion to Acquire UK Biotech, Boosting Its Respiratory Vaccine Arsenal

    Sanofi snaps up Vicebio to boost its vaccine toolbox

    In a move that could set the stage for a new era in respiratory defense, Sanofi has added London‑based Vicebio to its roster. This isn’t just a quick tidy‑up; it’s a deliberate strategy to widen its reach beyond the popular mRNA realm.

    Vicebio’s specialties? Think less about the headline‑making spike‑protein tech and more about solid, time‑tested approaches. Sanofi’s CEO hinted this would give the French giant an extra weapon in its arsenal—something that works outside the mRNA bubble and could help keep the world a step ahead of future lung‑invasive threats.

    • Expanding horizons: The acquisition unlocks new vaccine options that target respiratory viruses beside the current mRNA lineup.
    • Fresh perspective: Vicebio’s knowledge of non‑mRNA platforms brings fresh tactics to Sanofi’s research pipeline.
    • Global impact: This move could strengthen stockpiles for global health emergencies and provide a broader spectrum of protective options.

    With this deal, Sanofi not only widens its portfolio but also signals confidence in diverse vaccine technologies— proving that the future of disease prevention isn’t one‑size‑fits‑all.

    Sanofi’s Bold Bite: Buying Vicebio to Fight Respiratory Bugs

    In a move that feels a bit like a foodie merger, Sanofi has decided to snap up London‑based biotech Vicebio. They’re offering a sweet $1.15 billion upfront (about €980 million) and could add up to $450 million more once the new vaccine hits the finish line.

    “We’re on board!” – Vicebio’s CEO faces the future

    “We’re thrilled to join Sanofi,” said Emmanuel Hanon, Vicebio’s CEO. “Their global reach and powerhouse experience in vaccine science gives our tech the perfect playground to shine.”

    What Sanofi Gains

    • Vicebio’s early‑stage combo vaccine for RSV (respiratory syncytial virus) and hMPV (human metapneumovirus)
    • A non‑mRNA punch in the vaccine lineup – no novel mRNA tricks, just solid science that’s been out in the wild for a while.
    • The cutting‑edge Molecular Clamp tech, which locks viral proteins in their natural shape, letting the immune system hit them harder and faster.
    Why This Matters

    Respiratory illnesses are the common “cold” that can sometimes turn into a full‑blown pneumonia nightmare. By grabbing Vicebio, Sanofi turns the tables: they now have a promise‑packed combo that could arm seniors with a single shot against multiple nasties.

    What the Future Looks Like

    Expect the deal to close out of 2025. The financial forecast remains smooth sailing, and the stock’s just a touch down 0.4% right before 11:00 CEST in Paris.

  • Breaking: Government Deception Exposed

    Breaking: Government Deception Exposed

    When the BLS Boss Got Dismissed: A Job Report Drama

    The Ron Paul Institute announced that the Bureau of Labor Statistics (BLS) head, Dr. Erika McEntarfer, was among the most recent casualties of President Trump’s “you’re fired” roster.

    Why She Got the Axe

    Trump said the reason was that Dr. McEntarfer “tweaked” employment numbers—a statement that’s as off‑the‑chain as a bad joke. According to the president:

    • The updated May and June data showed the U.S. economy added 258,000 fewer jobs than originally reported.
    • The July jobs report ended up looking lousy, according to the official.
    • All this alleged manipulation was supposedly aimed to ruin Trump’s reputation.

    The Aftermath—Public Concern

    After the dismissal, people began fretting that the federal government might be twisting the numbers to suit presidential whims. If that trust evaporates, it could influence how investors view U.S. Treasuries.

    Why does it matter?

    • The value of Treasury bonds depends on the Consumer Price Index (CPI) issued by the BLS.
    • Uncertainty about CPI data forces investors to demand higher yields.
    • That hike raises the government’s borrowing costs and interest payments.

    Bottom Line

    A simple bullet point: mistrust in how unemployment and inflation figures are reported can send a ripple through the financial markets and could make creditors think twice before handing out the dollar bills. The real question is whether the data will stay spotless or get a bit grainy under the new regime.

    Unveiling the Government’s Numbers Game

    Thought it was all clear? Turns out the official stats are a bit of a cheat sheet, and President Trump’s sharp eyes have caught on.

    When the Bureau Moved the Goals

    Back in 1994, the Bureau of Labor Statistics (BLS) made a sneaky cut: “discouraged” workers—those who’ve given up hunting for jobs—were dropped from the unemployment count. Even more quietly, people working part‑time because they can’t land a full‑time gig were still counted as employed. So a lot of folks whose job situation isn’t great are masked.

    John Williams of Shadow Stats claims that adding these hidden “lost” workers would inflate the unemployment rate by almost 20 %.

    Inflation’s Dumb Trick

    The government’s favorite trick is chained CPI. Imagine your steak price shoots up—so expensive you can’t afford it. Instead of lowering your living standard, the math says it’s fine as long as you can buy a cheaper alternative, like a hamburger. That means the real sting of rising prices is hidden.

    Shadow Stats says a clearer inflation calculation could push the rate up to as high as 12 %.

    Why It Matters

    • Gaslighting the People: The numbers make it look like the economy is cruising when, in reality, many feel the weight of the changes.
    • Lowering the Cost‑of‑Living Roll‑Up: A lower headline inflation lets the government offer smaller raise bumps for veterans, Social Security beneficiaries, and others—cutting spending without firing brutal congressional votes.

    Trump’s Spot‑Check Plays a Role

    Yes, Trump has done a service by pointing out that data may be “stretched.” Critics who worry about the credibility of the numbers are basically in a weird love‑hate relationship with the data: they’re fine with manipulation as long as it supports Trump’s narrative.

    What the President Should Do Next

    If Trump wants to make sure the stories people read are truly reflective of reality, the next step might be to appoint John Williams of Shadow Stats as the head of the BLS. That’d be a bold move toward transparency.

    After all, accuracy matters when people are making decisions about their future. It’s time the numbers weren’t just “smoothed‑over.”

  • Trump Wins, USAID Loses: Appeals Court Authorizes Blocking of Billions in Foreign Aid

    Trump Wins, USAID Loses: Appeals Court Authorizes Blocking of Billions in Foreign Aid

    The Trump Administration’s Big Score: Slashing Foreign Aid Like a Hot Knife

    In a snappy move that could make any political strategist grin, the Trump team seized a monumental win on Wednesday. A U.S. appeals court gave the green light to trim billions of dollars from foreign assistance programs that Congress had once approved.

    What’s the Deal?

    • Billions Cut: The court’s ruling means the administration can ditch a massive chunk of the budget earmarked for overseas aid.
    • Congressional Green Light: Even though Congress had once approved the funds, the court’s decision is saying, “Take a hike, budget warriors.”
    • Political Drama: This victory adds another chapter to the ongoing saga between the administration and congressional oversight.

    Why It Matters

    For those watching the budget fight over the next few years, this ruling is a signal that the Trump administration may find more room in its pocket for other priorities—if the public and the Politburo are willing to let go of a few international commitments.

    Peeling Back the Layers

    Think of it as a financial makeover: the administration gets to go from a pre‑trim budget to a leaner spreadsheet. It’s the kind of cut that might leave the economy feeling a little sleeker and the wallet a bit heavier.

    Take‑away:

    The court’s decision is not just a bureaucratic win; it’s a headline-grabbing announcement that the U.S. foreign aid budget might soon be on a tighter leash. Everyone’s eyes will be on how the rest of the year unfolds—will the cuts carry the weight of promises, and will the gamble pay off for voters, critics, and the international community alike?

    Trump’s Make‑Over Mission: The Supreme Court Heats Up the USAID Showdown

    Background

    On day‑one, President Trump ordered the U.S. Agency for International Development (USAID) to be shut down and hammered hard at foreign aid funding. When the Justice Department stepped in, the blast hit a courtroom wall—federal judges began to say “Hold up!”

    First Fight – Judge Amir Ali

    • Amir Ali, a Canadian‑born Biden appointee, ruled in March that the Trump administration must honor the money Congress appropriated for FY2024.
    • He also ordered USAID to settle overdue bills up through February 13 under existing contracts.
    • Those payments are now fully done, according to court records—but the injunction was not appealed.

    The Appellate Decision – 2‑1, Reversal

    Judge Karen Henderson (from a Bush administration) wrote for the majority, stating that the district court screwed up by granting relief. Henderson claimed the grantees didn’t have a standing cause of action to press the constitutional claim because, as she put it, “they are dealing in statutory violations, not constitutional ones.”

    Fire‑fighting Justice – Judge Florence Pan

    • Florence Pan, a Biden appointee, dissented sharply: “When the President refuses to spend funds appropriated by Congress based on policy disagreements, that’s a statutory violation only; it should not raise constitutional alarm bells.”
    • She framed the 2‑1 reversal as a “significant setback” for the rule of law and warns that the drama isn’t over.

    What Comes Next?

    • Lauren Bateman, attorney with Public Citizen, declared, “Today’s decision is a significant setback for the rule of law and risks further erosion of basic separation of powers principles.”
    • She added, “We will seek further review from the court, and our lawsuit will continue regardless as we seek permanent relief from the Administration’s unlawful termination of the vast majority of foreign assistance.”

    Takeaway

    All the drama is short‑lived, but the stakes are high: the appellate panel’s 2‑1 ruling clears the way for Trump’s controversial order to shut down USAID and slash foreign aid. The legal battle will likely stretch into higher courts, as the plaintiffs fight for the money that Congress intended to spend internationally.

  • Trump's Tariffs Will Reduce Deficits By Trillion Over Next Decade, Says CBO Report

    Trump's Tariffs Will Reduce Deficits By $4 Trillion Over Next Decade, Says CBO Report

    Authored by Jack Phillips via The Epoch Times,

    A report released on Friday by the Congressional Budget Office (CBO) predicted that President Donald Trump’s tariffs will reduce federal deficits by around $4 trillion over the next decade.

    If Trump’s global tariff hikes continue, increased revenue could shrink primary deficits by $3.3 trillion and cut federal interest payments by $0.7 trillion over the next decade, the CBO said. The current top tariff rates may not hold as negotiations with trading partners and international legal challenges are ongoing.

    “We estimate that the effective tariff rate for goods imported into the United States has increased by about 18 percentage points when measured against 2024 trade flows,” the budget office said in its report, adding that Trump’s tariffs would reduce “the need for federal borrowing.”

    The CBO also said it “projects further increases in tariff revenues in the coming months” and that “if there are no further changes in tariff rates, we project that customs duties from new and existing tariffs will total about $200 billion this fiscal year.”

    But the office cautioned that revenues often lag several months behind the implementation of tariff policies, noting that once the rates are in effect, they don’t get applied to goods that are already in transit to the United States.

    “In addition, importers have the option to delay payments by up to six weeks by participating in Customs and Border Protection’s Periodic Monthly Statement program,” added the CBO, which is a federal agency within the legislative branch that provides budget and economic information to both houses of Congress.

    In July, Congress passed the GOP-backed One Big Beautiful Bill Act that contained several major Trump priorities on energy, the border, spending, and tax cuts. The CBO has said that it would add around $3.4 trillion to the national deficit over the coming decade, although the White House has disputed those figures.

    The Trump administration has also said that the tariffs and policies initiated under the One Big Beautiful Bill Act, which Trump backed and signed into law, would bring forth economic growth over the coming years that would offset any additions to the national deficit.

    “It was the largest tax cut for middle and working class families in our nation’s history, and the president wants to see this country get our fiscal house in order. That’s why this was a fiscally responsible bill,” White House press secretary Karoline Leavitt told reporters on July 21 in response to the CBO report on the bill.

    In a statement on Thursday, the White House again touted the bill by posting excerpts from a series of recent newspaper articles that praised the measure. Earlier this month, the administration also said that Americans would see an average tax cut of $3,752 under the bill, citing a report from nonprofit organization the Tax Foundation.

    Friday’s report from the CBO comes as Canadian Prime Minister Mark Carney announced that Canada would scrap some of its retaliatory tariffs against the United States. Trump imposed tariffs on Canada and Mexico earlier this year, saying those measures were necessary to curb illegal immigration and fentanyl trafficking into the country.

    “We have the best deal of anyone in the world right now,” Carney told reporters in Ottawa. “Today, the Government of Canada is harmonizing its tariffs with the U.S.”

    Loading recommendations…