 |
|
|
|||||
The intense red color of classic lipstick traditionally comes from an unlikely source: crushed bugs that live on cactus plants in South America. It takes tens of thousands of the ground-up insects to make just a pound of the vivid red dye. The red coloring, called carmine, also shows up in foodfrom red velvet cupcakes to sausages, gummy candies, and some versions of strawberry yogurt. In the cosmetics industry, major brands started moving away from carmine in the 2010s because of ethical concerns. A growing number of consumers wanted vegan makeup. (Crushing bugs also creates an allergen because of other bug parts that end up in the dye.) But because synthetic dyes don’t perform as well, carmine is still found in some high-end products, from shades of MAC lipstick and NARS blush to Chanel nail polish. Now, a biotech startup called Debut has developed a new alternative: an exact replica of carmine thats made from fermentation rather than bugs. [Photo: Debut] The molecule was incredibly difficult to replicate. Its a really unique color . . . its a very complicated [chemical] structure, says Joshua Britton, Debut’s CEO and founder. Academic scientists took 15 years to understand it, he says, and it took us three to four years to work out how to make it. The company discovered two new classes of enzymes that were the missing pieces of the manufacturing process, and found a way to keep the cost of the whole system relatively affordable. The resulting product is the same as the original color, minus the allergen and gross-out factor. Theres strong demand for a product like this in the beauty industry. Carmine is a perfect ingredient, Britton says. Its stable when it interacts with other ingredients, long-lasting, and vibrant in a way that other dyes arent. When Spanish explorers arrived in South America in the 1500s, carmine quickly became a major trade item. In Europe, red dye was difficult and expensive to make, and red clothing was mostly reserved for royalty (or, say, the Pope). In Peru, carmine had been used to dye fabric for at least two centuries, and the explorers realized that it far outperformed European dyes. Carmine started to show up in everything from oil paintings to British military uniforms. By the late 19th century, as the cosmetics industry was scaling up, carmine was a natural choice of ingredient for red, pink, and peach products. Right now, making the biotech version costs more than standard carmine, unsurprisingly. “The traditional bug version is at the moment cheaper, and that’s because there are 70,000 bugs hand picked off the leaf of a cactus dissolved in acid, and that’s the process,” says Britton. But the new tech is still at a pilot stage, and the company is now working with a larger company to scale up production and bring the cost down. Fermenting the product is also far more efficient than extracting it from bugs. “We typically don’t invest in molecules where we don’t think we can get down to cost parity,” he says. The cosmetics industry is a good initial fit, he says, since only small amounts of color are needed. (A pound of Debut’s carmine could color 6,500 tubes of lipstick.) The company is already working with a handful of beauty brands in its labs to develop new formulations for products. The food and pharmaceutical industries, which are also looking for alternatives to carmine, will come next, after the company works with the Food and Drug Administration for approvals and to figure out how the product will be labeled. Another factor is helping drive demand: the FDA recently banned Red No. 3, a common food dye, because of potential health risks. Food brands will have to phase out that dye over the next two yearsand biotech carmine could be a viable choice.
Category:
E-Commerce
Nearly 40% of the federal contracts that the Trump administration claims to have canceled as part of its signature cost-cutting program aren’t expected to save the government any money, the administration’s own data shows.The Department of Government Efficiency run by Elon Musk last week published an initial list of 1,125 contracts that it terminated in recent weeks across the federal government. Data published on DOGE’s “Wall of Receipts” shows that more than one-third of the contract cancellations, 417 in all, are expected to yield no savings.That’s usually because the total value of the contracts has already been fully obligated, which means the government has a legal requirement to spend the funds for the goods or services it purchased and in many cases has already done so.“It’s like confiscating used ammunition after it’s been shot when there’s nothing left in it. It doesn’t accomplish any policy objective,” said Charles Tiefer, a retired University of Baltimore law professor and expert on government contracting law. “Their terminating so many contracts pointlessly obviously doesn’t accomplish anything for saving money.”Dozens of them were for already-paid subscriptions to the Associated Press, Politico and other media services that the administration said it would discontinue. Others were for research studies that have been awarded, training that has taken place, software that has been purchased, and interns that have come and gone.An administration official said it made sense to cancel contracts that are seen as potential dead weight, even if the moves do not yield any savings. The official was not authorized to discuss the matter publicly and spoke on condition of anonymity.In all, DOGE data says the 417 contracts in question had a total value of $478 million. Dozens of other canceled contracts are expected to yield little if any savings.“It’s too late for the government to change its mind on many of these contracts and walk away from its payment obligation,” said Tiefer, who served on the Commission on Wartime Contracting in Iraq and Afghanistan.Tiefer said DOGE appeared to be taking a “slash and burn” approach to cutting contracts, which he said could damage the performance of government agencies. He said savings could be made instead by working with agency contracting officers and inspectors general to find efficiencies, an approach the administration has not taken.DOGE says the overall contract cancellations are expected to save more than $7 billion so far, an amount that has been questioned as inflated by independent experts.The canceled contracts were to purchase a wide range of goods and services.The Department of Housing and Urban Development awarded a contract in September to purchase and install office furniture at various branches. While the contract does not expire until later this year, federal records show the agency had already agreed to spend the maximum $567,809 with a furniture company.The U.S. Agency for International Development negotiated a $145,549 contract last year to clean the carpet at its headquarters in Washington. But the full amount had already been obligated to a firm that is owned by a Native American tribe based in Michigan.Another already-spent $249,600 contract went to a Washington, D.C., firm to help prepare the Department of Transportation for the recent transition from the Biden to the Trump administration.Some of the canceled contracts were intended to modernize and improve the way government works, which would seem to be at odds with DOGE’s cost-cutting mission.One of the largest, for instance, went to a consulting firm to help carry out a reorganization at the Centers for Disease Control and Prevention’s National Center for Immunization and Respiratory Diseases, which led the agency’s response to the COVID-19 pandemic. The maximum $13.6 million had already been obligated to Deloitte Consulting LLP for help with the restructuring, which included closing several research offices. Foley reported from Iowa City, Iowa. Ryan J. Foley, Associated Press
Category:
E-Commerce
Investors in cryptocurrencies are seeing red today. In the past 24 hours, the prices of most major cryptocurrencies and meme coins have plummeted. This includes crypto heavyweights like Bitcoin, Ethereum, and XRP as well as popular meme coins like Dogecoin (DOGE) and TRUMP. Heres what to know about the biggest losers and possible reasons behind the crash. Bitcoin drops below $90K for the first time since November Unsurprisingly, the crypto that is getting the most headlines today is Bitcoin, which as of the time of this writing currently sits at around $89,000 per coin. Thats a 7% drop in the last 24 hours alone. It also represents of few other ignominious milestones for the cryptocurrency king as of late. First, todays decline marks the first time that Bitcoin has fallen below $90,000 since November 2024, after Donald Trump’s election victory sparked a crypto rally. Second, Bitcoin is now also down 20% since another important Trump marker: his inauguration day on January 20. On Trumps inauguration day, Bitcoin had hit an all-time high of over $106,000. The postelection victory and post-inauguration gains were largely fueled by the belief that a Trump presidency would be good for the crypto markets in general. But its not just Bitcoin that is plummeting today. Other cryptocurrencies are as well. Those include (as of the time of this writing): Ethereum, which is down almost 10% in the past 24 hours (and down over 27% in the past month). XRP, which is down over 12% in the past 24 hours (and down over 31% in the past month) Solana, which is down almost 12% in the past 24 hours (and down over 46% in the past month) Dogecoin, which is down almost 11% in the past 24 hours (and down over 42% in the past month) Official Trump, which is down almost 14% in the past 24 hours (and down over 56% in the past month) But what exactly is causing todays crypto crash? While the digital assets do tend to be highly volatile anyway, the general consensus among crypto industry watchers is that two main events could be contributing to the plunge. Trumps tariffs lead to macroeconomic uncertainty While Trumps election victory was hailed as the best possible outcome for the crypto industry, it now appears that Trump could be doing more harm than good for digital currency markets. Thats because since Trump was sworn in, he quickly set to initiating tariffsor at least threatening toagainst Americas major trading partners, including China, Mexico, Canada, and nearly every other country in the world. Many fear these that tariff threats may lead to an all-out trade war between America and other major economies. Indeed, as BeinCrypto points out, after Trump seemed to confirm yesterday that the tariffs on Mexico and Canada would be moving ahead, Bitcoin sank and crypto markets saw almost $1 billion in liquidations. When there is macroeconomic uncertaintylike the kind generated by potential trade warsinvestors usually seek to lock in gains where they can by selling assets that have had good returns as of late. Larger anxieties about where the economy may be headed may be driving many crypto investors to take their profits now to buffer any losses in the future. The Bybit hack reminds crypto investors they are vulnerable It’s not just Trumps actions that are rattling crypto investors. Last week, the cryptocurrency exchange Bybit was hacked, leading to $1.5 billion dollars of cryptocurrencies being stolen. It is reportedly the largest crypto heist on record and is believed to have been carried out by actors in North Korea, reports CNN. Major crypto heists in the past have rattled investor confidence, and this one is no different. Heists such as this remind investors that cryptocurrencies are more readily at risk of theft than other assets, such as stocks or properties. To put the Bybit hack into greater perspective, Reuters reports that in all of 2024, there was $2.2 billion worth of crypto stolen. The ByBit hack signals that 2025 may be an even bigger year for crypto heists.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||