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EU member states unite in support of Dutch-led revisions to Chips Act

Brussels – The Dutch government announced on Monday that all European Union member states have joined a Dutch-led chips coalition advocating for changes to the EU’s Chips Act, reports 24brussels.

Dutch Economic Affairs Minister Vincent Karremans confirmed the coalition’s formation during a meeting of EU Ministers, emphasizing the need for Europe’s industrial strategy to adapt amid rising geopolitical tensions. “Today all EU Ministers agreed on the fact that Europe’s industrial strategy should adapt to the increasing geopolitical tensions in the world,” he stated.

What reforms to the EU Chips Act are being proposed?

The ‘Semicon Coalition’, established in March by the Netherlands alongside eight other member states, formally presented its declaration to the European Commission on Monday. The participating countries include Austria, Belgium, Finland, France, Germany, Italy, Poland, and Spain.

This coalition aims to outline a unified approach for the EU semiconductor industry, focusing on enhancing production capacity, securing essential technologies, speeding up authorizations, and fostering skills and financial support throughout the supply chain.

How did previous Chips Act measures fall short of expectations?

The previous iterations of the EU Chips Act encountered numerous challenges. Reporting indicated that the Act’s ambition was for Europe to seize 20% of the global semiconductor market by 2030, a target that many experts now view as unattainable. The European Commission’s projections suggested that only about 11.7% market share could realistically be achieved by that deadline, showcasing a minimal increase from 9.8% in 2022.

Additionally, the rollout of previous funding was hampered by a lack of centralized coordination. Instead, individual member states were allocated funding, which often concentrated resources in wealthier nations like Germany. This uneven distribution hindered overall progress, with the European Commission managing merely around 5% of the total funding while member states implemented projects without the need for regular reporting, resulting in significant oversight issues.

The coalition’s renewed push for reforms is seen as a critical step towards addressing these shortcomings and enhancing Europe’s competitiveness in the global semiconductor landscape. As the EU navigates complex geopolitical dynamics, the formation of the coalition signals a concerted effort to strengthen the region’s technological capabilities and economic resilience.

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Laudato Si’, a letter to the future of humanity and the planet

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A Gen Zer explains how he navigated Amazon’s 5-hour ‘loop’ interview and landed a job with no connections

Sooraj Kumar
Sooraj Kumar

  • Sooraj Kumar landed an analyst role at Amazon without a referral after a yearlong job search.
  • He shared how he responded to a rescinded job offer and what Amazon’s “loop” interviews were like.
  • He said he doesn’t think referrals help candidates as much as they used to.

By the time Sooraj Kumar landed an interview at Amazon, he’d already sat through more than two dozen interviews during his yearlong job search. While none resulted in an offer, he said those experiences helped prepare him for the tech giant’s notoriously challenging “loop” interview process.

Kumar’s job search journey began in January 2022, when he moved to the US from Pakistan to pursue a master’s degree in business analytics at DePaul University. He started looking for full-time employment in November 2022, but said the job market was challenging, in part because he wasn’t yet authorized to work in the US — and some employers didn’t want to wait for his work authorization to be processed or commit to sponsoring a visa in the future.

In June 2023, Kumar graduated from DePaul and began interviewing for a business analyst position at an investment firm. After four interviews, he said he received a verbal offer in August, pending a background check. That’s when things went awry.

Based on his research and conversations with friends who’d gone through the process, Kumar said he expected the background check to take no more than 15 days — but day 20 passed, then day 25, with no update. The company doing the background check told him the delay was tied to his lack of prior work experience in the US, which complicated the process.

In September 2023, around the 25-day mark, Kumar said the company told him that, due to business needs, they couldn’t wait any longer for his background check to come through. His offer had been rescinded.

Kumar’s background check cleared after about 35 days. He reached out to the company to share the update — but by then, it was too late.

“That last-minute decision from the company shocked me,” said the 28-year-old, who lives in the Seattle area.

Kumar is among the tech professionals who have struggled to find work in recent years. Since the start of 2025, global tech companies — including Microsoft, Google, and Amazon — have collectively laid off more than 80,000 employees, according to Layoffs.fyi. Tech job postings on Indeed as of July were 36% below early-2002 levels.

This hiring slowdown has particularly affected recent college graduates trying to enter the workforce. That includes the nearly 200,000 foreign students who received F-1 Optional Practical Training (OPT) work authorization last year — and whose visa status depends on staying employed.

Bouncing back from a rescinded job offer

While waiting for his background check to clear, Kumar started an unpaid business analyst internship to pause the 90-day unemployment clock allowed under his OPT visa — helping him keep his visa status in good standing.

But the bad news was that he still didn’t have a full-time, paying job — and he’d lost momentum in his search. Kumar said he’d been applying to around 20 jobs a day for months, but paused once he received the verbal offer.

After taking a couple of weeks to process what happened and plan his next steps, Kumar said he started waking up at 6 a.m. — a couple of hours before his internship began — to apply for jobs. He’d then apply for a few more hours after work, aiming to submit 50 applications a day.

“I refocused, got even more serious about my search, and put in extra effort,” he said.

One of the roles he applied for that September was a business analyst position at Amazon. He submitted the application through the company’s website, without a referral. Kumar said he barely even remembered applying for the role when, in November, Amazon reached out to schedule an interview.

How he prepared for Amazon’s loop interview day

After a one-hour phone interview with someone from the hiring team, Kumar was invited to Amazon’s “loop,” a daylong series of interviews — in his case, five, all of which were conducted virtually. Aside from a 30-minute lunch break, he said the interviews were separated by only about five minutes.

Kumar’s loop included three interviews in the morning, from roughly 9 a.m. to noon, followed by a lunch break and then two more interviews in the afternoon. He said he spoke with members of the hiring team, people from teams he’d collaborate with, and one person from HR. Around Christmas of 2023, Kumar said he received and accepted an offer from Amazon, which came with a six-figure compensation package.

Sooraj Kumar
Sooraj Kumar

Looking back on the interview process, Kumar said it was important to be familiar with Amazon’s leadership principles — including “customer obsession,” “ownership,” and “invent and simplify” — and to prepare professional stories that align with these values.

He said that one effective, Amazon-approved way to discuss past work experiences during interviews is the STAR method: situation, task, action, and result. The format helped him clearly explain his impact, and he believes it also made it easier for interviewers to take notes and remember his responses.

While his yearlong job search was grueling, Kumar believes the experience he gained interviewing for other roles helped him excel in Amazon’s process.

“If I didn’t have all the previous interview experience, I might have never ended up at Amazon,” he said.”

Top job-search takeaways

In addition to the value of interview preparation, Kumar said he had two other takeaways from his job search. First, while the quality of an application matters, he felt that volume was just as important — if not more so. No matter how strong his application was, he said the odds often felt stacked against him, so his best strategy was to give himself as many chances as possible.

His second takeaway: Referrals weren’t particularly effective. He said most of the interviews he landed came from cold applications, while the ones he submitted with referrals typically went nowhere.

Kumar suspects referrals have become too common at large companies, adding that his own LinkedIn inbox started filling up with people asking him for one after he joined Amazon. Unless the person referring you is on the hiring team or closely connected to it, he said, he wouldn’t count on a referral having much impact.

“Referrals are very mainstream now,” he said. “I don’t think that many referrals carry much weight.”

Read the original article on Business Insider
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I’m a billionaire CEO who’s acquired 9 companies in 8 months. Here’s what I look for in an investment.

TransPerfect cofounder Phil Shawe
Phil Shawe, the billionaire cofounder of TransPerfect, told Business Insider what he looks for in an investment.

  • Phil Shawe is the cofounder of TransPerfect, a language and AI solutions company launched in 1992.
  • TransPerfect has acquired nine companies since January, including Blu Digital Group.
  • Shawe told Business Insider what he looks for in merger partners.

This is an as-told-to essay based on a conversation with Phil Shawe, the cofounder and CEO of TransPerfect. The company, founded in 1992, has acquired nine companies since January: H2A, Technicolor Games, Apostrophe Group, Bear Down Studios, Blu Digital Group, Speech, MPC, The Mill Studios, and Unbable. The essay is edited for length and clarity.

Acquisitions have been near and dear to our strategy. TransPerfect tries to find management teams that are like-minded or have really interesting technology that fits well within our group of technologies.

We don’t approach mergers and acquisitions like a private equity firm might, which could involve buying companies, making positions redundant, and laying people off to make the unit more profitable.

If we don’t feel like the people are a good mix, we probably won’t do the deal. Here’s what I look for in an investment.

Entrepreneurs

The No. 1 thing TransPerfect is looking for is entrepreneurial management.

One reason I love working with entrepreneurs so much is that they’re able to make excellent decisions fast. They’re also willing to change course if they make a decision and later decide it wasn’t correct. I’m looking for entrepreneurs to join TransPerfect and grow their business within a division of the firm.

Our pitch to them is, “You didn’t get into this business to do back-office accounting. Let us handle all that. You go out and do what you love to do, which is take care of customers in your field, build great technology, and sell it.”

Founders or senior executives who stay post-acquisition

We don’t love it when the founders or senior executives leave. We would rather have them join our management team.

We go into acquisitions striving to keep the vast majority of employees and repurpose them. There are people who end up leaving, but we generally try to keep the team together because that’s what we’re acquiring — the human talent and then the technology.

We don’t even call our deals acquisitions. We call everybody a merger partner.

Back in the old days, we would only consider founder-led businesses where the management stayed on. Now, after we have grown and some of the deals have grown, we are willing to consider private equity or other deals where management has left.

Companies that already use TransPerfect’s technology

If someone is running a competitor tool and we acquire them, one of the minimum things we would expect is that they change and use our tools.

Their day-to-day business won’t change, but we’re going to need to change their accounting system to be on our global system and change their language technology platform. We don’t want to use and pay for our direct competitors technology when we have a technology of our own. Our technologies are No. 1 in the market.

A sellable product

If we feel like our existing salesforce can’t sell the product no matter what, even with training or a specialized salesperson, then that might not be as attractive.

Some people acquire businesses just for revenue or logos, but we rarely pursue acquisitions just to generate revenue growth. That ends up happening for us, but it’s not a goal for us because we’re a private company. We’re not trying to show growth to anyone. We’re trying to run a great business for our customers.

Companies that diversify TransPerfect’s holdings

Acquiring another language company might not excite us unless it’s in a new market because we’re always looking to diversify our offerings and be a value-added partner to our customers.

For example, we acquired Blu Digital, a company with amazing technology for distributing film and streaming content. We also acquired MPC, a leading film VFX company that worked on “Dracula.”

Acquiring companies in different time zones also means the sun never sets on our business.

We love the fact that we have production in different time zones in the world, working on projects for customers. If they need something done in a hurry, we can do that without crushing our US staff because we have so much staff internationally.

At the end of the day, though, these are just factors that could weigh one way or the other. To be a great company, we need entrepreneurial management and preferably cool technology that solves a problem better or a problem we don’t address in our current technologies.

Read the original article on Business Insider
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