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Trump’s shock-jock politics don’t work for everyone. An Ohio attack ad is proof.
Cheered by an online ecosystem, the GOP has rewarded “owning the libs” for a decade. But the blowback to an ad in the governor’s race suggests there are limits.
Inflation at the movies: Runtimes are longer, from ‘The Odyssey’ to ‘You Can See Everything’
Your bladder isn’t lying.
Inflation at the movies: Runtimes are longer, from 'The Odyssey' to 'You Can See Everything'
Your bladder isn’t lying | Talk 1370
P2 Physio Founder Luis Ferrer Joins Vanessa Certain for Pinecrest Business Spotlight
Getting your Trinity Audio player ready... Luis Ferrer, MPT, CSCS, Founder & CEO of P2 Physio, is the featured guest in this Pinecrest Business Association interview hosted by Vanessa Certain, Owner of VEC Development. Ferrer’s professional background spans physical therapy, strength and conditioning, and healthcare leadership. He earned his master’s degree in physical therapy from […]
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!]
A nanoparticle revealed the tiny impact of a single gas atom
The force exerted by a gas usually results from many atoms or molecules at once. But scientists isolated the force of a lone particle.
‘A vicious cycle’: Schools ban pouches that have as much caffeine as two cups of coffee—causing stunted ‘development and mental health’ for students
Caffeine pouches, small packets placed in the mouth between the lip and gum, are marketed as a portable and discreet way to boost energy and focus.
Roaming Tap provides mobile keg solution for gatherings
A Sioux Falls couple who wanted to explore entrepreneurship have started with The Roaming Tap Co., a rentable custom-built trailer with four taps that can dispense any beverage sold in a keg.
Priscilla Presley steps out for rare outing with with son Navarone Garibaldi Garcia
The mother-son duo attended an event in Germany on Oct. 20.
Maui Coral Reef Holds Secrets Of The Past
Scientists have studied a two-century-old coral core from Maui's Olowalu reef, revealing how land use has impacted reef health.
Students Take a Bus Ride to a Different Rutgers
A new seminar helps undergraduates connect their interests to research they never knew existed For Dave Bushek, the obstacle to bringing students to Rutgers’ field stations across New Jersey was getting them there. A visitor to Rutgers’ shellfish research facilities wondered why more students weren’t seeing them, too. Bushek, a professor of marine and coastal […]
Jimmie Johnson on the NASCAR business world: "It's a war"
Johnson made a name for himself a seven-time Cup Series champion, but he's now experiencing the 'race within the race' as a co-owner at Legacy Motor Club
University Hospitals Urgent Care in Medina sells for $3 million
The sale was between two third-party owners and will not affect operations at the site, the buyer's broker reports.
Mikel Arteta Drops Bukayo Saka Injury Update Ahead of Everton
Everton face Arsenal this weekend, and the Gunners could be without one of their star players in Bukayo Saka.
Birmingham AI security startup launches with $10M seed round
A Birmingham startup has raised $10 million to develop its software that polices AI agents.
Data center developers to host Nov. forum in Southwest Virginia
Oasis Digital Properties is considering constructing up to four data center buildings in Russell County, with a Nov. 18 public forum planned.
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.
Is Citizens United to blame for everything?
Plus: The justices’ book deals mean the court can’t rule on cases involving a media conglomerate.
Microsoft shuts down its beloved maker space
A key part of Microsoft’s hacker culture is going away
Will plants survive climate change? The 'Great Dying' reveals clues about their resilience.
Plants can't easily pick up and move when environmental conditions get rough, so they've evolved strategies to weather harsh conditions in place. That could help some plants survive in the face of a warming climate.
BioNexus KC celebrates ‘regional backbone’ connecting science, talent, tech and momentum
The scale of opportunities within Kansas City’s bio health industry would’ve been challenging to imagine even just five years ago, said Dennis Ridenour, touting a streak of groundbreakings, collaborations, game-changing announcements, and major investments — all rallying together the right people and institutions.
Launch Family Entertainment Names John Palumbo VP of Franchise Development
Launch Family Entertainment (Launch), a premier indoor family entertainment concept, has named John Palumbo Vice President of Franchise Development as the brand strengthens its leadership team and advances its national growth strategy. Palumbo brings nearly two decades of franchise development experience and an early-career foundation in sports and recreation operations. He began his career in athletic administration […]
ASU hockey incident raises questions about athletes’ mental health support
The events of Aug. 20 involving Arizona State hockey player Matthew Mayich open the conversation regarding mental health resources and creating an environment where college athletes feel safe seeking support.
Billionaires want to live in Florida. Eric Silagy wants them to know it's a great place to do business, too
'Economic development is not political.'
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.
Alexis Levine presents theory for why only women have been voted out of ‘Survivor 51’
Alexis Levine presents her theory for why only women have been voted out of ‘Survivor 51’ and reveals a crazy, bloody scene that did not make it to air.
Nasdaq Revenue Rises 14% as Financial Technology Business Expands
Nasdaq reported higher third-quarter revenue and earnings Thursday (Oct. 22), supported by growth in its financial technology and capital markets
Health insurance gaps leave families struggling with costs, survey finds
A new survey finds that even people who have health insurance are increasingly underinsured.
Health insurance gaps leave families struggling with costs, survey finds
A new survey finds that even people who have health insurance are increasingly underinsured.
Dispatch Sells 5M Copies, AdHoc Sets Live Concert for 1-Year Anniversary
AdHoc Studio's narrative superhero adventure game 'Dispatch' has over 5 million players in its first year, and it's celebrating with a live concert event.
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.
PACK EXPO International 2026 Delivers Innovation, Connections, and Business Opportunities in Chicago
The largest, most comprehensive packaging and processing event in North America brings together the industry for four days of technology discovery, education, and business connections.
Video game developer BioWare shuts down, next ‘Mass Effect’ canceled amid broader layoffs at EA
Saudi Arabia’s sovereign wealth fund, with a firm run by Jared Kushner, bought EA in August.
NBCUniversal's Home Entertainment, Live Plays Business Segment Sees 12.7% Q3 Revenue Decline
NBCUniversal’s studios’ “other” business segment, which includes home entertainment, live plays and third-party content distribution, reported revenue of $285 million, down 12.7% from revenue of $326 million in the previous-year period. Top-selling titles in the quarter included Obsession, Disclosure Day and The Super Mario Galaxy Movie, among others. Overall studios segment operating income increased 18.6% … Continue reading "NBCUniversal’s Home Entertainment, Live Plays Business Segment Sees 12.7% Q3 Revenue Decline"
Apple’s Magic Keyboards for iPad are about half off, with a small catch
They have 90-day warranties, but are “pristine.”
76ers Have One Major Advantage Cavaliers Can't Prepare For
The Philadelphia 76ers' revamped roster faces a major test against Cleveland’s continuity.
Partnership opens nominations for 2027-28 DSM Fellowship Program
The Greater Des Moines Partnership is accepting employer nominations for its 2027-28 DSM Fellowship Program, a 15-month professional development initiative designed to help early-career professionals strengthen their leadership skills and build connections throughout the region. The program offers mentorship, networking, community engagement and professional development opportunities. Employers may nominate individuals with three to seven years…
Healthy living takes center stage at Methodist Hospitals’ annual free fall community health fair
St. Timothy Community Church in Gary welcomed attendees to Methodist Hospitals’ annual Free Fall Community Health Fair on Saturday, October 17. This event is hosted every year by Methodist Hospitals to provide free screenings, such as blood glucose and cholesterol tests, as well as heart attack and stroke risk assessments and other resources to the … Continued
Jenna Ortega on moving beyond her 'Wednesday' image and embracing optimism
If Jenna Ortega ever enthusiastically shows you a stick, there's a meaningful life philosophy behind it.
Kristen Bell opens up about motherhood struggles
Raising kids is never easy, but Kristen Bell is going through the terrible teens.
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.
PCA's 14th annual Senior Strut promotes healthy aging and community among older adults
Philadelphia Corporation for Aging hosts activities throughout the year to promote healthy aging and create community. In this week's Art of Aging, we catch up with some participants who got to walk and talk down Kelly Drive at what might be considered PCA's favorite outdoor event.
Women who changed science missing from GCSE and A-level courses
Despite social, economic and institutional barriers limiting women’s formal participation in science, they made numerous key breakthroughs.
Leaker reveals larger iPhone Duo details, possible Telephoto camera
Today on Mark Gurman’s Power On podcast, the prolific leaker offered fresh insights into several features in the works for...
Judi Dench reveals heartbreaking health update amid worsening eye condition: ‘I have to put up with it’
“Aging? Rubbish,” the 91-year-old said of living with macular degeneration.
Sokaogon partners on workforce training for $72M broadband network
A new broadband workforce partnership will launch in spring 2027 to support a $72 million tribally owned fiber network planned for northern Wisconsin. The Sokaogon Chippewa Community, Nicolet College and the Wisconsin Department of Workforce Development’s Bureau of Apprenticeship Standards are developing the one-year broadband service technician apprenticeship. The program combines 2,000 hours of on-the-job […]
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.
The YMCA and Center Theatre Group partner on live theater
The Center Theatre Group (soon to show 'Oh, Mary!') and L.A.'s YMCA have joined forces to bring live theater to the whole city with 'Every Age. Every Stage.'
This Catherine Zeta-Jones Revenge Thriller Is the Most Underrated Show of the Month
As an entertainment editor, I watch a lot of TV shows. But the most underrated show on streaming in October 2026? It's the Catherine Zeta-Jones revenge thriller 'Kill Jackie' on AMC+. Here, my honest 'Kill Jackie' review and why it's must-watch TV.
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.”
The science behind fall color
Ever wonder what makes fall leaves turn red, orange, yellow and purple, or why some years are more colorful than others?
How Systems Biology Is Adopting an Engineering Framework
Everything from metabolic pathways optimized for efficiency to brain blood vessels designed as protective shock absorbers demonstrates multi-level planning.
Community health workers help patients piece their lives back together
For Georgieanna Pierre-Paul-who wants everyone to call her Gee-the most important part of her job may be a comfortable pair of shoes.
New Coros Dura 2 Solar features ultra-modern design and huge battery life, but it's the smaller bevel I love
Hands-on with the sharp-looking new bike computer from Coros
Michigan State Quarterback Listed as Questionable on Availability Report
Battered by injuries to Alessio Milivojevic and several defensive stars, the Spartans face a daunting road test against No. 9 UCLA while leaning heavily on their depth.
Everett's Music Barn to host fall fundraiser this weekend
If you enjoy bluegrass music, Suwanee is the place to be this weekend.
Shadow of the Tomb Raider: Definitive Edition gets surprise Nintendo Switch 2 launch today
The Tomb Raider reboot trilogy concludes on Nintendo Switch 2 today with Shadow of the Tomb Raider: Definitive Edition. Aspyr will be bringing it out within the next few hours. Tomb Raider: Definitive Edition and Rise of the Tomb Raider previously came to the platform. In this one, “Lara must venture through deadly and exotic locations, surviving the unforgiving jungle...
Apple will label apps that are ‘Made for iPhone Duo’
A new Duo badge will appear across the App Store.
Metamora, Creve Coeur look to expand business development
East Peoria has already purchased the land on Route 24 and Centennial Drive to expand housing development, while Metamora is developing housing, and possible business development, on 135 acres on Route 116.
Political attack ads fuel voter fatigue
As Election Day nears, voters say negative campaign ads are everywhere, while a UC professor urges them to seek facts before voting
Republican Senate candidate Bert Mizusawa talks energy, immigration, AI, Trump at UVA Center for Politics
With less than two weeks until Virginians hit the polls for midterm elections, Republican U.S. Senate candidate Bert Mizusawa took center stage at the University of Virginia’s Center for Politics Thursday evening for his “Evening with Maj. Gen. Bert Mizusawa” event.
Apple Reveals More Than 50 Apps That Will Be Updated for iPhone Duo
Apple today highlighted more than 50 third-party App Store apps that are or will soon be fully optimized for the iPhone Duo and its various layouts and poses.
Reeves announces second round funding for Mississippi's Rural Health Transformation Program
More than 370 applications were received in the second round, of which nearly 60 projects were approved totaling $32.6 million in funding. The third application period is now open, with a focus on modernizing the electronic health record systems in Mississippi.
Every player from Alabama to play for the Boston Celtics
Our focus in this article is Al Butler.
Marvel's Wolverine leads US September charts, achieves highest monthly dollar sales for a Sony-published title since Helldivers 2
PlayStation 5 spending rose 43% year over year, while unit sales increased 22%
Meet Mori, a Cute Robot Mushroom That Doesn’t Really Say (or Do) Anything
Step one in convincing people to live with robots with cameras on their faces? Disguise them as cute home decor.
1Password lets AI agents use your passwords without seeing them
Just grant the agent access approval and it’ll sign into your accounts to complete tasks.
Food Industry Innovation: The Convergence of Science and Trends
Food industry innovation combines AI, culinary science, and local trends to deliver sustainable, convenient meals, writes Mildred Villegas.
Study Connects Caffeine, Sleep And Mental Health In Children
By HealthDay Staff HealthDay ReporterTHURSDAY, Oct. 22, 2026 (HealthDay News) — Could just one caffeinated drink a week make a difference in your child's brain development? "Caffeine is such a normal part of daily life that it's easy to forget young people are consuming it too," said senior author
79% of Small Business Owners Put Personal Money Into Their Business in the Past Year, New Flute Report Finds
Flute, the payments platform for the everyday economy, released "The Cost of Waiting To Get Paid," a report finding that 79% of small business owners put personal money into their businesses in the past year.
Sasin and Thai Airways Partner to Bridge Business Education and Real-World Experience
Sasin School of Management, Chulalongkorn University, and Thai Airways International Public Company Limited have signed a Memorandum of Understanding (MOU) to promote cooperation in education and student development, connecting classroom knowledge with practical experience in the business sector.
1Password Surpasses $500 Million in Revenue as AI Agents Drive Growth
As businesses and consumers increasingly adopt artificial intelligence agents, 1Password is aiming to position itself to deliver solutions for growing challenges around security, access and trust.
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
Arts and entertainment events happening October 22nd-25th across the Mid-Ohio Valley
Jeff Dewitt joins Daybreak to discuss what’s happening October 22nd-25th across the Mid-Ohio Valley!
Navvis Introduces New Solution to Help Health Systems Build the Operating Capabilities Required to Achieve High Performance in CJR-X
ST. LOUIS, October 22, 2026--Navvis, the leading value-based care enablement company, today announced a new CJR-X solution built to help health systems achieve high performance in the Centers for Medicare & Medicaid Services (CMS) mandatory and newly finalized Comprehensive Care for Joint Replacement Expanded (CJR-X) model. Joint replacement is one of the most profitable service lines for health systems across the U.S. today, and CJR-X gives health systems a mandatory new way to protect and grow
10 fun trunk-or-treat events for families to try in metro Phoenix
It's not too late to plan your trunk-or-treat events for the family. Here are 10 to try in metro Phoenix for Halloween.
Interview: Earthquakes: Natural, Man-Made, and Everything Between with John Shaw
Harvard geophysicist John Shaw on earthquake science, survival, and how humans trigger quakes.
Overcoming Stage Fright: LSU Health Center hosts workshop for people with performance anxiety
Anxiety is something many people struggle with, whether it’s social or a specific phobia. However, some students may struggle with performance anxiety, commonly known as “stage fright.” Performance anxiety is beyond normal nerves and can show in many ways, triggering a fight-or-flight response with symptoms like sweating, nausea, shaky hands, or even irregular breathing. “Let’s...
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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