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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

 
Investment tech won’t solve systemic wealth gaps,...
Dean Sterrett Contributor Dean Sterrett is the co-founder, COO and head of product at LEX Markets, a commercial real estate securities marketplace for institutional and traditional investors. Philip Michael Contributor Philip Michael is CEO of NYCE Companies, a NYC-based media and fintech investment platform. Robinhood founder Vlad Tenev recently sparked controversy when he told the New York Times that lower participation in equity markets by younger Americans “ultimately contributed to the sort of the massive inequalities that we’re seeing...

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Here are the 98 companies from Y...
Today was part one of Y Combinator’s two-parter Summer 2020 Demo Day, where nearly 100 companies debuted their efforts to the world for the first time. The Summer 2020 batch of companies was the first fully remote YC cohort, with the ongoing pandemic leading the accelerator to take its program entirely virtual. But it was actually YC’s second virtual demo day; as the severity of the pandemic became more clear back in March, YC moved the Demo Day portion of its...

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Startups Weekly: Will future unicorns go public...
Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7am PT). Subscribe here. The public markets are staying receptive to tech IPOs, and tech unicorns are trying to recover from pandemic damage, polish up their financials, and head back towards the starting gates. This week, it’s Airbnb and Palantir, finally. Both have been startup icons of the past decade, and literally helped define the term “unicorn.” Now, both are illustrating...

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This Week in Apps: Apple’s antitrust war,...
Welcome back to This Week in Apps, the TechCrunch series* that recaps the latest OS news, the applications they support and the money that flows through it all. The app industry is as hot as ever, with a record 204 billion downloads and $120 billion in consumer spending in 2019. People are now spending three hours and 40 minutes per day using apps, rivaling TV. Apps aren’t just a way to pass idle hours — they’re a big business....

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Why is cloud revenue growth so slow...
Redpoint’s Jamin Ball discusses the numbers behind the hype Alex Wilhelm 8 hours So far, 2020 has been mostly a garbage year, but it has also been consistently interesting in terms of the amount of change that it has brought. Venture capital? Changed. Public markets? Very changed. How to go public? How about a SPAC? E-commerce? Going through a once-in-a-generation step-change. E-commerce venture investment? Down. Fintech investing? More nine-figure rounds than ever. Fintech losses? New records. The list goes...

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AI as a blueprint for fintech startups
Marc Gilman Contributor Marc Gilman is general counsel and VP of compliance at Theta Lake. He is also an adjunct professor at Fordham University School of Law. More posts by this contributor Recommendations for fintech startups navigating the procurement process The startups creating the future of RegTech and financial services While most startup founders would prefer not to pore over laws, regulations and interpretive materials to design a perfect product, it’s an essential exercise for those developing financial services...

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Daily Crunch: Apple hits $2 trillion market...
Apple stock reaches a big milestone, Facebook Portal gets more work-friendly and Twitter reports progress against hate speech. This is your Daily Crunch for August 19, 2020. The big story: Apple hits $2 trillion market cap Apple’s share price is up around 59% since the beginning of the year, despite seeing relatively modest, 11% year-over-year revenue growth in its most recent earnings report. Alex Wilhelm argues that Apple’s strong market performance, and similar strength from other tech giants, is...

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Max Levchin is looking ahead to fintech’s...
Max Levchin needs little introduction in the world of tech. As an entrepreneur, he’s been the co-founder of PayPal (now public), Slide (acquired by Google) and Affirm (reportedly about to go public), some of the hottest startups to have come out of Silicon Valley. And as an investor, he’s applied his power of observation and execution also towards helping many others build huge technology businesses. We sat down with Levchin for a recent session of Extra Crunch Live, where...

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Tristan Thomas, Monzo’s long-standing VP of Marketing,...
Tristan Thomas, Monzo’s long-standing VP of Marketing — who joined the challenger bank almost five years ago when it had less than 15 employees! — has announced internally that he is departing at the end of the year. For the time being, his destination is unknown (even to himself, I gather), and once he’s served his notice period, which runs until November, he’ll be taking some time to figure out what’s next. I also understand Thomas will be actively...

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Despite booming consumer demand, VC interest in...
Sector deals have slipped to their lowest ebb since Q1 2019, but what’s to blame? Alex Wilhelm 9 hours Walmart reported earnings this morning. Most of the numbers are immaterial to you and I, having little to nothing to do with the world of private capital and startups, but one metric did leap out: In its quarter ending July 31, Walmart’s U.S. “e-commerce sales” grew by 97% compared to the year-ago quarter, with what the company called “strong results...

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Samsung Pay Card launches in UK, powered...
Samsung Pay Card, a new Mastercard debit card from the mobile handset giant, has launched in the U.K. today. Powered by London-based fintech Curve, it lets you consolidate all of your other existing bank cards into a single card and digital wallet, making it easy to manage your money and, of course, use Samsung Pay more universally. Unsurprisingly, Samsung Pay Card users will also get access to other Curve features. They include a single view of your card spending...

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A requiem for The Creamery
Editor’s note: Ryan Lawler is a writer and editor based in Philadelphia. After working as a journalist for publications like TechCrunch and Gigaom, he currently leads content strategy for Samsung Next. I don’t remember the first time I went to The Creamery, probably sometime in early 2012. I don’t remember the last time, either, although undoubtedly it was sometime last year, on a day when I had an extra five minutes to spare before boarding the Caltrain for my...

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Lana has launched in Latin America to...
Lana, a new startup based in Madrid, is looking to be the next big thing in Latin American fintech. Founded by serial entrepreneur Pablo Muniz, whose last business was backed by one of Spain’s largest financial services institutions, BBVA, Lana is looking to be the all-in-one financial services provider for Latin America’s gig economy workers. Muniz’s last company, Denizen, was designed to provide expats in foreign and domestic markets with the financial services they would need as they began...

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Amex acquires SoftBank-backed Kabbage after tough 2020...
Small and medium businesses have been some of the hardest hit in the coronavirus pandemic, and in many cases that has had a knock-on effect on the companies that provide services to them. Now, a startup that built a whole business around loaning money to SMBs has been acquired by a giant in the world of credit as the fintech industry begins to size up what the “new normal” will look like when it comes to doing business with...

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Robinhood raises $200M more at $11.2B valuation...
Robinhood announced this morning that it has raised $200 million more at a new, higher $11.2 billion valuation. The new capital came as a surprise. Astute observers of all things fintech will recall that Robinhood, a popular stock trading service, has raised capital multiple times this year, including an initial $280 million round at an $8.3 billion valuation, and a later $320 million addition that brought its valuation to $8.6 billion. The Exchange explores startups, markets and money. You...

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