The mayor of Lisbon has turned it into a magnet for European startups

Carlos Moedas does not feel like a conventional politician. The current mayor of Lisbon and former European Commissioner for Innovation recently insisted in which his training as an engineer marked his management. The idea: less rhetoric and more structural solutions. And it certainly seems to carry out this proposal, because it is leading a transformation that seeks to position the Portuguese capital not only as a tourist destination, but as one of the most relevant technological nodes in Europe. unicorn factory. The nerve center of this transformation is the call Unicorn Factorya hub of innovation that was launched in 2022 and that has become the flagship project of its mandate. Since its creation, this initiative has multiplied its size by five, and today it already houses thematic divisions specialized in cutting-edge sectors such as AI, blockchainhealth or green technologies dedicated to the agricultural field. The success is tangible: 17 “unicorn” companies (valued at more than $1 billion) have moved their operations to the Portuguese capital. Attracting startups. Moedas explained in comments to Financial Times how the real challenge of Lisbon is not to see companies born, but to help them grow. The project attracted 300 companies in 2025, a figure that represents notable growth from 250 the previous year. Among them there are companies with founders from the US, Brazil, or Denmark. Favorable conditions. To attract these startups Moedas has used several levers. The first is to sell Lisbon for what it is: a safe capital with a great quality of life. The second is to highlight that the tax regime for qualified immigrants is advantageous, and there are also tax credits for R&D, which of course is a strong argument for companies that consume a lot of resources in those initial phases and can thus receive aid in this process. But. The road, Moedas openly acknowledges, is not without potholes. Portuguese bureaucracy remains complex – the same thing happens in Spain – and that can deter entrepreneurs. The mayor of Lisbon states in the interview that a good part of his time is spent talking on the phone with foreign founders and helping them overcome these bureaucratic barriers. “Politicians do not create jobs, the markets create them,” he repeats: their job is to facilitate, not hinder, or at least that is the message. Competence. Although the activity is notable, there are founders of companies who know that the market is raffling them off. María Ribeiro Soares, from Immersiv Studios, warned of the difficulty retaining talent compared to markets with higher wages such as the United Kingdom or Germany. The other venture capital. There is another peculiarity in this entrepreneurship market. Lisbon startup founders have realized that while traditional venture capital is cautious, the so-called family offices are very willing to bet on these projects. These investors, often experienced, high-net-worth former founders, provide funding but also advice. Lisbon is not alone. The rise of Lisbon as a technological node is also accompanied by other Portuguese innovation centers such as Braga and Porto, where, for example, the biotechnology sector flourishes. There is also a direct connection with universities oriented to this market, and in that northern region of Portugal alone there are already some 1,200 startups with a combined valuation of close to 9 billion euros, according to the FT. The other great challenge. Portugal’s efforts to attract external talent have led to the arrival of numerous digital nomads, but this has had a counterproductive effect: it is causing an exodus among young Portuguese. They cannot access a housing market adapted to the pockets of those nomads, who charge triple. Rental prices have skyrocketed, and that has created tension that the mayor must manage. Image | EU2017EE Estonian Presidency | Aayush Gupta In Xataka | Portugal’s radical proposal to stop touristification: an underwater cable that connects with the US

The key to China’s success with rare earths are not the rare earths: it is the magnet

The response of the Chinese administration to the tariff pressure to which the United States wanted to submit in early April was immediate: significant restrictions on the export of rare earths. A measure that ended up relaxing this week, with the granting of licenses of export for six months. A truce to which the United States accessed by lowering another of the key elements in this commercial war: The admission of Chinese students in American universities. These are one of the most important pieces of the geopolitical board: they are scarce chemical elements, difficult to extract and refine, and a key resource For the technological, automotive and energy industry, among many others. China is controlling access to these elements to defend their interests, but the key is not just to isolate its rivals of this precious material: is in the disability outside China to take advantage of them. China is the fundamental piece in its prosecuted. China controls rare earth production by 70% and 90% processing them. In the case of heavy strange earth, a subgroup of them even more scarce, their participation in the refining is 99%. According to the newspaper The New York TimesChina has up to 39 university programs so that its students can train and develop their career in the chemical industry specializing in this field. It is just a sample of the importance it has for the country led by Xi Jinping to continue controlling this geopolitical weapon. This graph is the best visual test of China’s domain in rare earths. The access toll. Although the focus on how they are affecting the restrictions on the export of rare earths to the supply chain is currently, there is a key that has gone unnoticed: the real problem is not access, it is the difficulty of working even in the case of obtaining them. When the Ministry of Commerce of China and the General Administration of Customs They imposed access controls for the export of medium and heavy rare earthsthe supply chain staggered. From their entry into force, all exporters were obliged to obtain specific licenses for each shipment, even if they are products in which they have already been refined, such as magnets. Why touch the rest. These licenses are a complex bureaucratic process, slow and studied case by case. Although the primary political objective is the United States, European companies that need heavy land (or materials manufactured with them, such as magnets), are seeing supply interruptions. Suzuki has already arrested swift production in Japan Due to the scarcity of pieces, Musk You are having trouble building your robots and, in Europe, the secretary general of CLA (European Association of Automation Suppliers) made an urgent call: production is entering the paralysis phase. “With a deeply interconnected global supply chain, China’s export restrictions are already paralyzing production in the European supplier sector.” The magnet as geopolitical treasure. William Huo, ex-intel and one of the most prominent figures in the critical analysis of Western industrial policy, summarizes it in the best possible way: West has been focusing on optimizing spreadsheets instead of factories, And now he is not able to manufacture a single magnet. The industry depends on the Chinese refining of rare earths to manufacture high performance magnets. Without them, there is no competitiveness in electric cars, defense, nuclear or consumer technology. The rest is not prepared to refine rare earths. “Middle East has oil. China has rare earths.” They are words of Den Xiaoping in 1992, who was the top leader of the People’s Republic of China. The country has been acquiring the necessary knowledge to extract and refine these materials, while the rest of the world enjoyed a comfortable (and economic) dependence. West has tried to self -abuse with at least 10% of the remaining rare lands. Countries like Norway and Sweden are finding new deposits, and have confirmed the intention of exploiting them not beyond 2030. None of this is enough. Refining is the main bottleneck for the use of rare earths in industry, an expensive, sensitive process and with complex waste management. In Xataka | China has built the most elegant economic power lever in modern history: rare earths

The F-35 and the US ballistic missiles need the key component of a magnet. The problem is that it was “Made in China”

Finally, China carried out what the global industry feared: blocking the export of rare earths more valuable. In this way, without more, it sounds tremendous, although surely many will wonder how far the scope of the veto really comes, or which supply chain will be affected in the short term with Beijing’s decision. There are many sectors against the strings, but there is an especially delicate one for Washington: Defense. If everything remains the same, you have a few months left for your F-35 or ballistic missiles to have a serious problem. The Achilles heel. I told it The New York Times A few hours ago. China’s decision to impose restrictions on the export of critical minerals and, especially, of certain rare earth magnets, represents a direct warning to the national security of the United States, whose military capacities They depend largely of these resources. Which is it? We talk about Combat fighters of the Air Force, like F-35of guided ballistic missiles of the army or electric drones of the Marines, where these magnets (made with elements such as neodymium, disposium or ititrium) are essential for the operation of motors, guidance mechanisms or emergency systems. If, for example, a ballistic missile does not include the component of these magnets, it would be impossible for their goal to reach. The background problem. That 90 % of these components are produces in Chinaand six of the key metals that compose them are only refined there, which gives Beijing a powerful pressure tool. This maneuver, considered a “warning shot” by An official From the Air Force, it could easily climb towards fees, tariffs or even a total prohibition, generating an immediate impact on the costs and availability of American military technologies. A vulnerable chain. It We have counted other times. Rare earth (a set of 17 elements) is not that they are scarce in the strict sense, but its processing is expensive (and polluting), which is why China managed to dominate both its extraction and the associated refining and manufacturing. This supremacy has allowed him control much of the final cost of the modern American weapons, including those poachers, submarines, war ships, tanks, missiles and laser systems. To get an idea, only one F-35 contains around 400 kg of rare earth materialswhile some submarines They exceed 4,000 kg. Although the American defense industry and the pentagon have accumulated strategic reserves of these elements, analysts warn that these collections would barely reach to cover a few months of production and maintenance, not even years. From there, as we recently counted, that Washington has noticed the Pacific fund. Future warnings. Actually, the United States already knew about this unit and what could happen for a few years. It happened with an emblematic case, the call “F-35 “magnet debacle”when in 2022 the Department of Defense temporarily suspended the delivery of these aircraft after discovering that a component contained a Alloy manufactured in Chinacontravening defense acquisition standards. Although at that time it was considered that the material did not represent a direct threat, the incident highlighted the depth of the US dependence. Now, with the obligation that Chinese exporters Request special permits Before sending rare earth to the United States, experts anticipate a price increase that will affect the entire industrial defense base. Yes, the MINTAIN PASS MINA In California it has resumed operations, but its production is far from competing with Chinese capacity. Historical precedents. Looking back, history offers examples of how the United States must have adapted to interruptions of the supply of strategic materials in times of war. For example, now It happened with the bauxite During World War II, when Germany sank allied charges that transported it from Surinam. So Washington turned to Domestic reserves in Arkansas to guarantee the production of airplanes. Today, The Times told that there are already voices from the sector, such as American Enterprise Institutewhich insist that current reserves are not enough to sustain the military-industrial complex in the face of a long interruption of the Chinese supply. Despite the initiatives of Trump and Biden governments to Reactivate national production Of critical minerals, the industry remains highly vulnerable to Beijing’s decisions. A critical dilemma. No doubt, there is a much broader background with what happened in the commercial war. Chinese control over rare earth supply not only implies logistic or economic vulnerability: it represents A geostrategic challenge First order for the technological supremacy of which the United States has always presumed in the military. The recent Chinese measure does not close trade routes completely, but it makes it clear that Beijin possesses A pressure lever Formidable about the American defense industry. Faced with this, analysts agree that Washington must accelerate efforts to diversify their sources of supply, recover internal industrial capabilities and ensure the resilience of a supply chain that supports a good part of its global power. Otherwise, the next crisis may not limit yourself to that “warning shot”, but to become a direct blow to the technological backbone of the National Defense. Image | Jasper Nance In Xataka | The United States imagined that China would veto its export of rare earths. Has a plan B: The Pacific Fund In Xataka | China has done what the global industry feared: block the export of the most valuable rare earths

‘The White Lotus’ has shown how a group of millionaires veraneanding on your coasts is a magnet for tourism

In addition to catching millions of viewers, Successful television series They have proven to have an unexpected power: become fashion tourist destination Your locations. Beyond their plots or characters, the landscapes that appear in them become one more actor and an object of desire to Millions of anxious tourists for living the same experiences as the protagonists of the series. The last to exploit this phenomenon has been “The White Lotus” in which, for more signs, a group of millionaires enjoy some vacation in a luxury resort. The tourist claim is served. The “The White Lotus” effect is very real In the same way as each stop on the Taylor Swift tour affected the economy Local for the singer’s convocation power, every season of “The White Lotus” has had in response an increase in visitors in the locations in which it has been filmed. In the BBC They analyzed the phenomenonwho have not hesitated to qualify as “White Lotus effect“ The White Lotus series, which tells the vacations of a group of Millionaires in a luxury resort which gives name to the series, but in real life it is hotels of the Four Seasons chain. For the first season, Mike White, made the whole plot happen at the facilities of the Four Seasons Resort Maui in Waileain Hawaii. According to data published by the BBC, the hotel registered an annual increase of 425% in the number of visitors to its website and 386% in availability consultations after the broadcast of the first season. Four years after the broadcast of the first season of the series in Hawaii, there is still no availability for the “pineapple suite” that appears in the series. The hotel chain has not let the occasion escape and has taken advantage of the pull of the series to offer one of its “premium experiences” emulating the protagonists From the series on a 20 -day jet in private jet to the three hotels that have served as a location for “The White Lotus”. Its price: since 188,000 per adult. The tourism of “The White Lotus” in figures According to published data by The Wrapthe impact on Hawaii’s local economy Tourism attracted by the series In the first season it was 12.89 million dollars for local economic activity. That provided 3.86 million dollars in salaries to the workers of the island and attracted an investment of 7 million in local companies and suppliers. All this in his first season, when his success still did not reach current popularity quotas, where Variety He reportedan audience of 4.2 million viewers in episode 6 of the third season. For the second season of the series, the group of millionaires moved to the facilities of the FOUR SEASONS SAN DOMENICO PALACE In Taormina, Sicily, and with them They dragged a legion of followers. In the case of Sicily, the series was already coming from a very successful first season, so its figures quadrupled. The local tourism economy It received an impact of 40.1 million dollars after the broadcast of the second season, which generated 18.7 million dollars in salaries for local workers and an investment of 21.4 million dollars for local companies and suppliers. The numbers suggest that the third season of the series, set in the Four Seasons Resort Koh Samuiin Thailand, they will also be a tourist ball that has already generated a benefit of 36.9 million dollars in tourist activities. According to published The New York Timesthe reserves in the Four Seasons in which the third season has already registered a 40% increase in its reserves. Those responsible for local airlines They assuredto Bloomberg They expected a record of 2.7 million visitors this year, attracted by the The White Lotus effect. Set-Jetting: Choose destination according to your favorite series The tourist success of The White Lotus is not an isolated case result of the aspirational desire to achieve some luxury vacation like those enjoyed by the wealthy protagonists of the HBO series. Choose how Vacation destination The locations of the series most popular of the moment has become a trend called “Set-Jetting“ According to The UNPACK´24 report Expedia, 66% of travelers have considered traveling to a destination after watching it in a series or film, and 39% have ended up spending their vacation in one of these film locations. Game of Thrones left an even deeper mark on his recording scenarios, such as Dubrovnik. From the premiere of the series, the city, which served as the scenario for landing of the King, experienced a 40% increase in the influx of international tourists. That generated immediate economic benefits, such as a 60% growth in local income related to tourism. However, series impact also brought some inconveniences For the inhabitants of the Croatian city. According to a studybetween 2012 and 2018, housing prices in Dubrovnik fired 28%, promoted in part by international investments and the arrival of foreigners who sought to acquire properties in the now famous destination. In Xataka | The last trend among millionaires is not to buy a yacht. Is to share a luxury minicrucero Image | Max

An Ibiza cliff had become a magnet of tourists. The neighbors have decided to close it unilaterally

Not long ago the authorities of Fujikawaguchiko, a popular tourist destination located southwest of Tokyo, took A radical decision: tired of seeing how visitors They appealed in one of its most popular viewpoints to get selfies With Mount Fuji in the background, hindering traffic and dirtying the street, they chose to install a large fence that covered the Fuji. Over view, it was a problem. Between Fujikawaguchiko and Ibiza there are about 10,600 km, but the Balearic island has been found in a similar problem: the enormous popularity of its most iconic viewpoint among tourists has led the owners of the land to take action. They have not managed to install an XXL screen to cover the views as in Japan, but They have managed to limit the intense flow of visitors and vehicles. A name: is Vedrà. What Ibiza is A popular destination Among tourists is no novelty. Only last year they visited the whole of the Pitiusas more than 3.6 million of people. Within the island, however, there are specially busy points, such as “The Mirador de Es Vedrà”, a set of Cap Blanc plots and is Savinar, that have become greatly famous for their paradisiacal views. Tourists visit him in mass, attracted by the photos they see in networks or even in promotional videos of the Balearic Islands. And that translates, remember Nou Diariin a chaos of cars, garbage, feces, picnics and even commercial activities ranging from the sale of drinks to DJ performances or even wedding celebration. The problem is that plots have two peculiarities. One, they are protected. Two are private. And its owner are fed up after years of tourist avalanche. And what have they done? Take action. Throughout the last weeks The press regional realizes How the owners of the lots, tired of the avalanche of tourists and their effects, have decided to cut for the healthy. And that translates into blocking access to private lands that were being used as parking with large rocks and veto the passage of visitors to the viewpoint and the Torre des Savinaranother popular destination among visitors. It is not just that they can no longer park in the area. Access to the esplanade is not allowed in which thousands of tourists are looking for the Selfie Dream, no matter if they do it in their private cars or move in a taxi. “The neighbors are a little fed up”. The result is The closure of access to the main parking lot of Cala d´hort with permission from the City Council and Access on foot In S´era Des Mateart, the most crowded viewpoint during the sunsets. “Of course, the neighbors are a little fed up that their property is being used in a way, I would say, a little wild,” Explain to Ibiza Diario Mayor Vicent Roig, who also recognizes that given the “deterioration” of the tower DESAVINAR and other spaces was “necessary to stop the access volume.” “It has become a greater evil “. One of the neighbors was even more overwhelming when telling Nou Diari How the area has reached its current state. “A property asked the City Council to legalize the land as parking, but it has not been granted and closed, while the rest have tired of allowing it,” regrets. “It was about preventing people from parking on the road as a minor evil, but it has become a greater evil because now it appears not only in parking lots, but also on the road.” There is no lack of criticism Nor to the advertising that the viewpoint has been given, not only in networks, where it has starred Some viral videobut on the part of the agents that have been responsible for promoting Ibiza at national and international tourism and international shop windows in the sector. “It should never have become the farm of the photo”, Underline at eldiario.es An owner before remembering that the situation is not new. “We have been denouncing the Consell, City Council, Government and Civil Guard.” And now what? That is the question that remains by driving. What to do with the flow of tourists looking for the Selfie Or the dump photo that have seen thousands of times in networks? Roig admits that in the face of summer he wants to find “a solution”, at least provisional. The idea is to “reduce pressure”, for which hand is working with natural spaces. The challenge is not simple: after “broken” the barrier that prevents the passage of cars towards S´ra des Maraet, the City Council has had to reinforce it. About the table is The possibility to open a regulated and payment parking. The local press too pointsThe idea of ​​setting an area as a “official” viewpoint, near the beach and with services such as bathrooms. “We will try to regulate the flows, which is our mission as a town hall,” Roig progress: “You have to have very clear the limits of how far you can go and we work to distribute these flows.” Images | David Holderbach (Flickr) and Jordi NLL (Flickr) In Xataka | In Ibiza there are those who are leaving their homes in high season to move to caravans. The reason: rent them to tourists

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