News

Alphabet’s X moonshot factory, under the leadership of Astro Teller, is changing its approach to bringing ambitious technology projects to market. Instead of keeping them within the Alphabet corporate structure, X is now spinning them out as independent companies. This shift is supported by Series X Capital, a dedicated venture fund that invests exclusively in X spinouts, with Alphabet as a minority investor. This strategy allows X to maintain close strategic ties with the spinouts while giving them the flexibility to operate independently.

X’s unique approach to moonshots involves testing ideas ruthlessly and actively seeking reasons to shut them down. The focus is on solving huge problems with breakthrough technology, and projects that meet these criteria are spun out as independent companies. X has already spun out successful projects like Waymo and Wing, and continues to launch new ventures such as Anori, an AI platform for the real estate and construction industries. This innovative spinout strategy allows X employees to have significant ownership in the companies they work on while removing the financial pressures that often hinder innovation.

Bending Spoons, a Milan-based tech conglomerate, has seen its four cofounders become billionaires following the latest funding round that raised $270 million. CEO Luca Ferrari’s stake is now reportedly worth $1.4 billion, with the other cofounders’ stakes each estimated at $1.3 billion. The company focuses on acquiring underperforming tech brands and transforming them to serve millions more efficiently, with a portfolio that has served over a billion people. Despite their success, Bending Spoons has managed to stay under the radar, making headlines only when acquiring recognizable brands like AOL.

Founded out of the remains of Evertale, Bending Spoons started by building their own apps before shifting focus to acquiring and transforming digital businesses. They have acquired several notable companies in recent years, including Evernote, Meetup, Vimeo, and most recently AOL. With a focus on efficiency and revenue, Bending Spoons aims to build a live portfolio and has never sold an acquired business. Their newest funding will support future acquisitions and investment in proprietary technology and AI capabilities, allowing them to pursue more prominent targets going forward.

Major automakers, including Honda, Volkswagen, Stellantis, and more, are facing potential production disruptions due to a shortage of automotive semiconductor chips. The issue stems from the Dutch government’s control of Nexperia, a chip supplier owned by Chinese company Wingtech Technology Co, amid geopolitical tensions between the U.S. and China. The situation has prompted automakers to establish “war rooms” to address the global supply chain issue and find alternative sources for critical components.

The automotive industry is closely monitoring the situation, with fears of assembly line stoppages if a resolution is not reached soon. German automakers, in particular, are vulnerable to disruptions as they heavily rely on suppliers like Nexperia for essential parts. The ongoing chip shortage, impacting legacy semiconductors used in key vehicle functions, underscores the industry’s vulnerability to supply chain disruptions caused by political tensions. Ford, GM, Honda, and other automakers are actively engaged with government officials to find a diplomatic solution and avoid further production losses.

Companies around the globe, from Amazon to Nestle and UPS, are initiating significant job cuts as they navigate a landscape of diminished consumer sentiment and increasing adoption of AI-driven automation. With over 25,000 announced job cuts in the U.S. this month alone, concerns about economic slowdown and structural shifts are on the rise, with white-collar positions particularly vulnerable to automation.

As companies like Amazon and Target focus on restructuring and justifying AI investment, economists warn of potential layoffs and their impact on consumer confidence and the broader economy. Despite a “low-hiring, low-firing phase”, the labor market faces uncertainty as firms navigate the evolving landscape of AI technologies and job market shifts.

United Parcel Service posted earnings that surpassed analysts’ expectations, disclosing a higher number of job reductions as part of its extensive restructuring plan. The company reported a net income of $1.31 billion in the third quarter, with an adjusted profit of $1.48 billion. UPS announced that it has cut 34,000 operational jobs and 14,000 management positions, exceeding prior estimates. The courier aims to achieve $3.5 billion in total cost savings by 2025 through its transformation strategy.

UPS has been streamlining its operations, including reducing ties with Amazon, its largest customer. Executives noted a 21.2% decline in Amazon’s volume with UPS in the third quarter. Moreover, the company completed a sale-leaseback transaction for five properties and closed operations at 93 buildings as part of its cost-saving initiative. CEO Carol Tomé expressed confidence in the company’s ability to deliver efficient service during the upcoming holiday season while adapting to industry challenges such as tariffs and sluggish demand. UPS is leveraging artificial intelligence to enhance its operational capabilities and navigate the evolving global trade environment.

Amazon announced plans to reduce its corporate workforce by 14,000 jobs in a move aimed at reducing bureaucracy, removing layers, and investing more in its AI strategy. This marks the e-commerce giant’s second-largest job cut since 2022 and comes as part of a larger effort to shift resources towards the company’s “biggest bets” in the rapidly changing technological landscape. The layoffs are seen as necessary to make Amazon more agile and efficient in leveraging AI technology to innovate and serve customers better. Despite the decision’s controversy, Amazon believes that streamlining its workforce is crucial for staying competitive and meeting the demands of the evolving market.

The company’s focus on tech infrastructure and AI development has been evident in its substantial investments in these areas, with a significant portion of its revenue dedicated to supporting the growth of Amazon Web Services. As Amazon continues to roll out AI agents and Generative AI, CEO Andy Jassy has emphasized the need for reevaluating and restructuring the workforce to align with the company’s technological advancements. While the job cuts may impact various departments, Amazon is offering affected employees opportunities to transition internally, while also providing support and benefits to those unable to find new roles within the company. In the coming years, Amazon plans to further optimize its operations, remove layers, and drive efficiency gains while focusing on key areas of growth and innovation.

American Airlines is on a mission to regain its footing in the post-Covid luxury travel market after falling behind competitors like Delta Air Lines and United Airlines. Despite offering more flights than any other airline, American accounted for just 2% of the profit generated by the top three U.S. carriers in 2025. Struggling with customer satisfaction rankings, on-time performance, and an outdated business-travel sales strategy, American is working to revamp its brand and improve its standing in the industry.

Led by CEO Robert Isom and Chief Customer Officer Heather Garboden, American is investing in customer experience enhancements, technology upgrades, and fleet refurbishments. The airline is focused on providing a holistic travel experience, from booking to onboard amenities, to attract passengers willing to pay for premium services. With a strategic shift towards customer-centric initiatives and a new focus on product offerings, American is striving to regain market share and investor confidence in the competitive airline industry.