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Oscar owes its existence to the Affordable Care Act's disruption of the health care market. A new feature from Backchannel shows how the fledgling startup is facing the law's imminent repeal.

The company's leaders say they'll survive because they have:

  • Flexibility to evolve faster in a changing market than more established competitors
  • Moved into the small business market, covering firms that offer insurance options to employees
  • Better user experiences (think: going to an Apple Store for your doctor's appointment)

Cofounder Josh Kushner, the brother of Donald Trump's son-in-law, Jared Kushner, sums it up:

"It's like we're this beautiful spaceship that was able to be built because there was some new space program — but we launched in an unstable environment. But we can quickly redirect this beautiful spaceship to very stable environments."

Go deeper

Federal Reserve expands lending program for small businesses

Federal Reserve Chairman Jerome Powell at a news conference in 2019. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

2 hours ago - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.