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It's been 1 year since Baltimore's Key Bridge collapsed. Where does the rebuild stand?

It's been 1 year since Baltimore's Key Bridge collapsed. Where does the rebuild stand?

CBS News25-03-2025

One year ago, Baltimore's iconic Francis Scott Key Bridge collapsed in the middle of the night after it was struck by a large cargo ship leaving the Port of Baltimore. The deadly collapse crippled the port - and traffic around Baltimore - for months.
Within a matter of months, state and federal leaders collaborated to fund and reconstruct a brand-new bridge, which is expected to be finished by the fall of 2028.
On March 26, 2024, investigators
said the DALI
, a 948-foot vessel managed by Singapore-based company Synergy Marine Group, lost power before crashing into the Key Bridge. Six construction workers performing road work on the bridge died after falling into the Patapsco River.
The National Transportation Safety Board (NTSB) said the
ship lost power four times in 12 hours
before the collision.
Earlier this month, the NTSB faulted the Maryland Transportation Authority (MDTA) for
not conducting a critical vulnerability assessment
on the Key Bridge, which it said could have identified the structure's risk of collapse.
The NTSB review found the level of risk for a catastrophic collapse for the Key Bridge was nearly 30 times higher than acceptable risk levels.
"The MDTA would've had information to proactively identify strategies to reduce the risk of a collapse and loss of lives associated with a vessel collision with the bridge," MDTA chair Jennifer Homendy said when releasing the board's findings.
The Key Bridge construction is expected to cost about $2 billion and it could take
at least four years
to complete.
Here's where we stand:
Maryland leaders unveiled the
vision of the new Key Bridge
in February.
The rebuild will visually mimic the original bridge's architecture while having structural improvements. Officials said the new bridge will be taller, to accommodate ship traffic with ease.
The cable stay design of the new bridge will allow the federal shipping channel to expand from 700 ft. to 1,000 ft. wide. The base of the bridge will also be raised to 230 ft., which is a 45-foot increase to accommodate ship traffic.
The roadway will still be two lanes wide going in each direction. Other pier support structures will be implemented to secure the structure.
According to the MDTA
, other bridge features include:
"Our new bridge will also be constructed in accordance with the most advanced industry standards and the very best in infrastructure design," Maryland Gov. Moore said. "We are going to use the best materials available and employ many Marylanders to build it."
In December 2024, Congress passed a deal on a
federal spending package
, which allocated $100 billion for disaster relief, including the entire cost of a new Key Bridge.
At the time, Maryland Gov. Wes Moore said the efforts to complete the work on a new Key Bridge were "on time and on budget."
"The collapse of the Francis Scott Key Bridge was a national crisis, and meeting the moment would require an act of national unity," Moore said. "Now, we must bring our work to completion by rebuilding the Francis Scott Key Bridge."
In the spring, demolition will begin to
remove the remaining pillars
of the Francis Scott Key Bridge. Immediately after that, Gov. Moore said construction will begin.
In-water construction of the new bridge, which will connect the I-695 Baltimore Beltway, is expected to begin in the fall of 2025, but that will also require permit verification from the U.S. Coast Guard, according to officials.
MDTA anticipates the new Key Bridge to
reopen by October 15, 2028
.

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China's grueling ‘996' work culture is being debated by European startups — 7 founders and VCs on why they are resisting
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China's grueling ‘996' work culture is being debated by European startups — 7 founders and VCs on why they are resisting

The European startup scene was recently shaken by a LinkedIn debate with some venture capitalists applying pressure on founders to embrace a culture of overwork to compete on a global stage. The "996" work culture reigns supreme in China and has been adopted by various tech giants including Jack Ma's Alibaba and Bytedance's TikTok, but the system has also been the subject of much protest in recent years. Tech workers in Europe told CNBC in 2021 that they're turning down job offers, rejecting interviews, or even quitting their roles, upon learning of TikTok's 996 work culture. Sebastian Becker, general partner at Switzerland-based VC company Redalpine added to the debate on LinkedIn by addressing the new German Chancellor Friedrich Merz, who has called for removal of the legal work limit of eight hours per day in Germany in a bid to increase efficiency, while keeping the 40-hour week. Becker said Merz' proposal doesn't go far enough, as "40 hours a week won't cut it." "In Silicon Valley, 60-70 hour weeks aren't the exception — they even have a term for it: 996 — 9am to 9pm, six days a week... we can have the same amount of smart, ambitious people, but if we're consistently being outworked, we won't win," Becker said. Index Ventures Partner Martin Mignot in London explained on LinkedIn that 996 originated in China and has "quietly become the norm" at startups internationally. Part of the reason behind this most recent push is that there's a persistent view that Europe's tech and startup scene is lagging behind the U.S. and China, both of which have produced tech giants and are known for intense work cultures. However, Suranga Chandratillake, general partner at Balderton Capital, told CNBC Make It that these views are outdated as Europe has produced deca-corns in recent years— companies worth more than $10 billion including Klarna, Revolut, Wise, and The continent has yet to produce a trillion-dollar tech firm like Nvidia. "The European tech market and ecosystem is keeping up today with the U.S. and Asia... back in the 1980s the European tech scene was behind the tech scene on the West Coast of the US, but that's not the case now," Chandratillake said in an interview. The calls for Europe to adopt the 996 work culture sparked a wave of backlash. CNBC spoke with seven European startup founders and VCs on why they disagree. The obsession with China's 996 or Silicon Valley's 24/7 work culture emerges from a glorification of hustle culture in the startup landscape, founders and VCs said. "It's about a fetishization of overwork rather than smart work…it's a myth," Chandratillake said. "California is very good at telling stories and there's a lot of mythmaking around the concept of what startups look like…. there is hard work involved but if you really spend time in that ecosystem, you will discover that lots of people work really hard, but there are also periods where they don't work." Nina Mohanty, a Silicon Valley native and founder of London-based Bloom Money, said there are actually "lasting effects and unintended consequences" to adopting an aggressive overwork culture, "You only have to think about Revolut and the culture that they have is probably the closest that we've seen in Europe to the 996 culture, and they struggled," Mohanty told CNBC. "Their churn rate was incredibly high within their team, and they even struggled to get their banking license, and their culture was actually cited as one of those reasons." For its part, Revolut told CNBC it operates in a "high-growth, high-performance environment." "In line with this, we've evolved how we support our people: through value-based behaviours, structured development, and a culture that's collaborative, challenging, and built for scale," a spokesperson from Revolut said. 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Founders insist that instead of increasing working hours, startups need more funding and resources to position themselves as key players in the global startup scene. "What Europe really needs isn't more hustle-porn it's more aggressive funding," Wernér said. "With the right level of capital, our startups can hire enough talent to work intensely without breaking themselves. If a team of 10 is burning out to keep up with a 50-person U.S. VC or Chinese government-backed startup, the problem isn't their stamina, it's their cap table." In fact, since 2015 Europe's tech startups have missed out on nearly $375 billion in growth-stage funding, with founders losing out on a potential $300 billion in European investments, according to Atomico's State of European Tech report published in 2024. Additionally, one in two companies raising funding turn to the U.S. for capital rather than Europe. 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Apparel brand Oak + Fort to restructure amid tariff woes
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