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8,463 articles · Business

Business

China's AI boom isn't producing the next Jack Ma — it's producing a generation of one-person businesses running on generative agents, and Silicon Valley is misreading what that actually means

In one example from Shenzhen, a former product manager laid off from a major platform company is now running what she calls a business of one, using generative AI to write ad copy, design storefronts, and produce short-form video dramas from a repurposed industrial park where the rent is subsidised by the local government.

Business

There's a German idea that explains why the most globally dominant companies in their field are ones you've never heard of — quiet, family-run, mid-sized firms that would rather own an obscure world market than ever be famous

If you own a dog, there is a reasonable chance its retractable lead was made by a company called Flexi, based in a town in northern Germany, which by its own account and most industry estimates holds around 70 percent of the world market for exactly that product and does nothing else.

Technology

A 65-year-old programming language called COBOL still quietly runs over $3 trillion in banking transactions every single day — and because the original engineers are retiring fast, banks are scrambling to pay younger coders fortunes just to keep the ancient code from collapsing

COBOL remains embedded in banking and government systems because replacing old code means replacing decades of business logic, not just a programming language.

Business

Stripe's payment infrastructure was built in a Palo Alto apartment by two Irish brothers from Limerick who, before they turned 25, had convinced Peter Thiel and Elon Musk to back them, and the company's annual payment volume now exceeds the entire GDP of Ireland by more than three times

Stripe processed $1.4 trillion in payment volume in 2024 — roughly 2.6 times Ireland's GDP — and the founders built the first version in a Palo Alto apartment before either turned 25.