World News
Rapyd acquires a piece of PayU from Prosus for $610M to scale its fintech-as-a-service platform on August 1, 2023 at 6:21 am
Rapyd, the fintech-as-a-service startup that provides APIs to enable payments, card issuing, digital wallet and other financial services to companies like Uber and Ikea, is taking a significant step forward in its growth with a big acquisition: it is paying $610 million to acquire a giant piece of PayU — the payments group of internet giant Prosus that focuses on emerging markets.
While full financial terms of the deal are not being disclosed, Arik Shtilman, Rapyd’s CEO and co-founder, told TechCrunch that his company is “in [the] final stages of closing a new financing round of $700 million,” which points to how the deal will be financed. He also confirmed that Prosus does not become a shareholder with this acquisition.
Rapyd is currently valued at $8.75 billion and has raised more than $806 million, with its current investors including the likes of Fidelity, Dragoneer, General Catalyst and Target Global, as well fintech giant Stripe.
PayU’s operations span some 50 countries, and Prosus is not selling all of these: it is selling what it calls the “Global Payment Organisation” (GPO) and will continue to hold on to PayU’s operations in India, Turkey and Southeast Asia, arguably the three biggest regions for the business.
The deal underscores both ambitions for Rapyd — with roots in Israel but now based out of the U.S. — to build out more scale and reach globally for its wider payments operations en route to an IPO, with its fuller customer list now including Meta, Netflix, Adidas, Inditex (owner of Zara) and some 100 other major enterprise businesses.
But it also points Prosus’ efforts to streamline its operations and to cut out assets that are dragging it down. In quarterly results reported in June, Prosus said it made $903 million in consolidated revenues from its payments business, with India profitable and driving the growth rate of the overall segment. But it also said that the GPO business contributed to overall trading losses of $83 million (which also faced issues due to problems in other operations such as BYJU’s).
The deal must still go through regulatory clearance, Rapyd said, but Shtilman added that if it does, it will stand as the largest deal so far in 2023, with the fundraise to finance it accounting for 3% of all fintech fundraising for the year.
It will also provide more fuel to Rapyd for its next steps. IPO plans are so far not specific. “Timing will be dictated by a range of factors,” Shtilman said. “Like any other company that is weighing the benefits of going public, we are looking at multiple factors including market conditions, desire of investors, and the ability to fund a specific set of future initiatives for global expansion.”
“PayU has built and scaled its GPO business successfully over a number of years. It is important to us that a company with a track record like Rapyd will take the business to the next level, expanding the GPO solutions to meet the evolving needs of the dynamic fintech landscape globally,” said Laurent le Moal, PayU’s CEO, in a statement. “I wish Rapyd every success as it continues to build its global payments platform.”
Rapyd, the fintech-as-a-service startup that provides APIs to enable payments, card issuing, digital wallet and other financial services to companies like Uber and Ikea, is taking a significant step forward in its growth with a big acquisition: it is paying $610 million to acquire a giant piece of PayU — the payments group of internet
Politics
Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

What Happened at the United Nations
On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?
The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.
International Reaction and Significance
The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

Why Is This News Important?
The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.
This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.
News
Is a Nuclear-Powered Alien Spacecraft Flying Toward Earth?

A mysterious interstellar object speeding through our solar system has reignited debates about extraterrestrial technology — and whether Earth might currently be under quiet observation.
The object, known as 3I/ATLAS, is only the third confirmed interstellar visitor ever detected. Unlike ordinary comets, however, this cosmic traveler has baffled astronomers with its unusual brightness, strange trajectory, and lack of a visible cometary tail. While most scientists cautiously describe it as a natural body, one leading astrophysicist believes something much stranger is at play.

Harvard Scientist’s Bold Claim
Professor Avi Loeb of Harvard University, head of the Galileo Project, has suggested that 3I/ATLAS may in fact be a nuclear-powered alien spacecraft designed to test how humanity would respond to an interstellar visitor. He argues that its flight path is improbably precise, bringing it close to Mars, Venus, and Earth — a pattern highly unlikely to occur by chance.
Loeb also points out that telescope images show a glow inconsistent with ordinary dust behavior. Instead of trailing behind like a comet, the halo-like light appears to extend in unusual ways, sparking debate about whether the object could be emitting energy of its own.
Headed Toward Earth’s Neighborhood
3I/ATLAS is expected to make its closest approach in late 2025, passing near Mars before swinging by the inner solar system. Although Earth itself will be on the opposite side of the Sun when it comes closest, the alignment will still enable space-based observatories to capture sharper data.

Loeb has called on NASA and other agencies to use spacecraft already stationed near Mars or Jupiter — including the Juno mission — to take high-resolution photographs. He believes such efforts could reveal whether the interstellar object is truly natural, or the first technological probe humanity has ever encountered.
Should We Be Worried?
While most astronomers argue caution before jumping to alien conclusions, Loeb insists that scientific openness is key. “If it’s just a comet, we learn something new,” he said. “But if it’s a spacecraft, it would be the most important discovery in human history.”
For now, 3I/ATLAS remains a mysterious speck on astronomers’ charts, drifting closer with each passing day. Whether it proves to be a frozen remnant of another star system or something far more advanced, the interstellar visitor has already succeeded in one mission: reminding us how vast and unpredictable the universe really is.
News
AI Automation Could Cause Up to 20% Unemployment—A Workforce on the Brink

Stark Warning from Anthropic CEO Highlights Rapid Job Displacement Risk
The looming threat of widespread unemployment due to AI automation has sparked intense debate among experts, business leaders, and policymakers. Dario Amodei, CEO of Anthropic—the company behind the influential AI language model Claude—issued a stark warning that has sent shockwaves through corporate America:

“Up to half of all entry-level white collar jobs could disappear within the next one to five years, potentially pushing unemployment rates as high as 20% during this period.”
This dramatic forecast paints a picture of a rapid and unsettling transformation in the workforce, driven by AI technologies that can perform complex cognitive tasks.
Balancing Predictions: Worst-Case Scenarios vs. Moderate Impact
However, this forecast represents one end of a spectrum of expert predictions. While Amodei’s warning highlights the worst-case scenario driven by the swift adoption of AI agents capable of coding, analyzing data, drafting legal documents, and managing workflows around the clock, other analyses suggest a more moderate impact. For example, Goldman Sachs estimates that AI could temporarily displace about 6-7% of U.S. jobs, with unemployment rising by approximately half a percentage point during the adjustment period. Their research anticipates a more gradual transition with a mixture of job disruption and creation.

The Unprecedented Speed and Scope of AI-Driven Job Disruption
The truth likely lies somewhere in between. AI is advancing at unprecedented speed, and the scope of jobs affected spans far beyond blue-collar roles to white-collar positions that required college degrees and years of training. Entry-level roles such as customer service representatives, data entry clerks, junior analysts, and administrative assistants face the greatest near-term risk. Mid-level roles in accounting, marketing, law, and engineering could soon follow, with companies already laying off workers citing AI-driven efficiencies.
Preparing for an AI-Transformed Workforce: Adaptation Is Essential
Ultimately, the AI-driven job transformation is no longer a distant prospect but unfolding now. Whether unemployment spikes to 20% or stabilizes at lower levels depends on many factors, including business adoption rates, government policies, and the ability of workers to reskill. What is certain is that the workforce of tomorrow will look very different from today—and the time to prepare is right now.
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