What You Missed (4/19 - 4/25)

Automatic Tariff Refunds for UPS and FedEx Customers
U.S. Customs and Border Protection has activated its CAPE refund system, allowing importers of record and major carriers to reclaim duties collected under IEEPA after a Supreme Court ruling, with valid refunds generally expected within 60–90 days and more complex entry types to be added in later phases.

Meta Launches Data Center Technician Training
In communities across the country where Meta builds and operates data centers, the company is investing in people as much as in hardware through LevelUp, a no-cost, four-week program that trains participants on fiber real-world data center equipment and links successful graduates to jobs across Meta’s U.S. footprint.

The Dark Side of Startups and AI Labs
Days after Anthropic launched Claude Design, a direct Figma rival built by a team co-led by outgoing Figma board member Mike Krieger, CEO Dylan Field privately accused the AI lab of being ‘not consistently candid,’ underscoring new tensions between design startups and AI giants.

The End of an Era at Apple
Apple CEO Tim Cook announced he will step down effective September 1, 2026, after 15 years, transitioning to executive chairman. John Ternus, SVP of Hardware Engineering, will become CEO, with Johny Srouji named Chief Hardware Officer.

Bipartisan MATCH Act Introduced to Codify Export Controls
U.S. lawmakers are pushing the MATCH Act to close loopholes Chinese firms exploit through front companies and third-country routing of advanced chipmaking equipment. The bill gives the Netherlands and Japan 150 days to align their export controls with U.S. restrictions on DUV lithography systems before triggering extraterritorial enforcement that could block foreign-manufactured tools worldwide.

A New Bet on Iconic Cultural Institutions
Joshua Kushner announced Thrive Eternal, a permanent capital holding company focused on acquiring iconic cultural institutions and franchises that technology cannot replicate. The investment philosophy targets assets that benefit from long-term stewardship and compound through cultural resonance rather than being displaced by AI and emerging tech. Their first partnership is an ownership stake in the San Francisco Giants, pending league approval.

Businesses Are Moving Into the Agentic Era
At Google Cloud Next 2026, leaders declared the start of the ‘agentic era,’ unveiling Gemini Enterprise Agent Platform, upgraded AI chips, and Agentic Data Cloud to move customers from pilot projects to production-scale AI agents that everyday employees can use to transform their workflows.

Ontario Passes Law To Cap Ticket Resale Prices
In a bid to make big concerts and games more accessible, Ontario’s new strengthened Ticket Sales Act now caps all ticket resales at the original price, including fees and taxes, putting it among the world’s stricter markets and drawing both praise and warnings about a possible shift to underground reselling.

Guaranteed Payday For Cursor
SpaceX announced a strategic AI deal with Cursor, pairing Cursor’s leading coding assistant with SpaceX’s Colossus supercomputer and securing an option to acquire Cursor later in 2026 for $60B or pay $10B for joint work instead.

China Restricting US Investment in Top Companies
Following Meta's $2 billion acquisition of Chinese AI startup Manus in 2025, China has instructed several private technology firms to reject U.S. investment in funding rounds unless explicitly approved by the National Development and Reform Commission.

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$25B - Adobe’s recently announced share buyback

$450M - The initial Fund I closing for Harbinger Sports Partners

$25B - Netflix’s boosted share buyback after failed WB bid

7% - of Microsoft’s domestic workforce offered early retirement