Launches 60 Starlink internet satellites from Cape Canaveral
A SpaceX Falcon 9 rocket launched 60 more Starlink internet relay satellites on Saturday, boosting the total number launched to date to 895 as the company builds out a planned constellation of thousands designed to provide global high-speed broadband service.
Too Rich ? Never
- Elon Musk and Robert Reich, a former US labor secretary, got into it on Twitter.
- Reich accused the billionaire of being a “modern day robber baron” for cutting worker pay during the pandemic while his own wealth surged.
- Musk countered that all Tesla workers had stock too, calling Reich a “modern day moron.”
- It’s not the first time Musk has been sensitive to attacks on his wealth, which sits around $90 billion.
Starship ~ Falcon 1
Investors’ new mantra: Apple AAPL, +1.71% and Amazon AMZN, +1.25% are for boomers — we buy Tesla TSLA, +7.29% and Virgin Galactic SPCE, +11.58%. Apple and Amazon are pedestrian stocks of yesterday; they do nothing interesting. Vacationing in space on a Virgin Galactic flight is around the corner. Soon we will be mining on Mars. When we return from Mars to the lowly planet Earth to visit our aging parents, we will be getting around in flying autonomous electric taxis from Tesla and staying in homes powered by Tesla solar roofs and batteries.
Public service announcement: If you’re an investing novice, you are setting yourself up for a painful lesson
Both Virgin Galactic and Tesla provide short-term trading opportunities for sophisticated investors both from the long side and the short side. Our system gave a signal to short-sell Virgin Galactic for a very short-term trade near the highs.
However, there was no point in publishing that signal because the shares were not readily available to short. The plan is to trade only those setups where there is reasonable risk control. It is also important to pay attention to Arora’s 14th Law: “To be successful at investing and trading, become a master of position sizing.”
Nigam Arora Nigam@TheAroraReport.com
Internent Service Provider ?? Iron Man
Elon Musk’s private space tech company is ‘likely’ to spin off its Starlink internet business and take it public, said SpaceX COO Gwynne Shotwell, according to a report by Bloomberg.
Starlink, which plans to offer internet service via satellites in space, is “the right kind of business that we can go ahead and take public,” Shotwell reportedly said on Thursday.
Musk has proven himself a consumer salesman at Tesla, his electric car company. But it is hard to imagine him (Iron Man) getting excited about managing telecom minutia. Once the interesting engineering problem is solved—someone has to figure out if the satellites can use lasers to communicate in space—a new management team can deal with the kind of customer satisfaction issues that keep most ISPs moored at the bottom of consumer satisfaction scores.