Thanks for reading Axios Future. Today we're looking at supersonic air travel, private space stations, the arrival of cicadas and more in 1,629 words, a 6-minute read.
1 big thing: Supersonic travel is about to make a comeback
Illustration: Sarah Grillo/Axios
In a few years, it might be possible to fly from Washington, D.C., to Paris in four hours — instead of eight — or from San Francisco to Tokyo in just six hours aboard a new crop of supersonic jets, Axios' Joann Muller reports.
Why it matters: High-speed air travel promises to shrink the planet, putting far-away vacation destinations within closer reach and enabling business travelers to attend meetings on another continent and return the same day.
The big picture: Affordable, sustainable, high-speed flight has the potential to revolutionize commercial air travel, just as the jet engine did in the late 1950s.
Yes, but: Engineers must first solve technical, business and environmental challenges that doomed previous efforts at supersonic travel, most notably, the transatlantic Concorde.
Flashback: British Airways and Air France flew the Concorde from 1976 to 2003 on international routes like New York to London in under three hours.
But the "great white bird" was terrible for the environment and couldn't make a profit, even with round-trip fares averaging $12,000.
Fast forward: A handful of startups hopes a fresh approach — lightweight materials, efficient engine technologies and cleaner fuels — will make supersonic jets much cheaper to operate and thus economically viable for everyday travel.
Boeing-backed Aerion is developing a supersonic business jet that will begin production in Florida in 2023 and should be ready for customer delivery by 2027.
NetJets, Warren Buffett's fractional jet company, this week ordered 20 of the planes, for $120 million each.
Also this week, Aerion teased a concept for its next plane: a larger 50-seat commercial airliner that would fly at Mach 4-plus speed — more than four times the speed of sound — "enabling flight between LA and Tokyo in less than three hours."
Boom Supersonic, backed by Japan Airlines, American Express Ventures, Emerson Collective and others, will begin production of its Overture supersonic aircraft in 2023.
A handful of other startups, including Hermeus and Spike Aerospace, are also developing supersonic jets.
Sustainability, not just speed, is a core goal. The new planes will be less harmful to the environment, the companies say, because they're designed to run on sustainable aviation fuels (SAFs).
SAFs are made from sustainable feedstocks like household solid waste, algae or used cooking oil, and producers like BP claim they can produce up to 80% lower carbon emissions than traditional jet fuel.
But SAFs are in short supply, so production needs to scale significantly in the next few years to meet the demand for cleaner-flying planes.
Reality check: For all the promising developments, supersonic commercial flights are still limited by regulatory hurdles, cautions Iain Boyd, an aerospace engineering professor at the University of Colorado.
"This is one of the very few high technology things where it feels like we have gone backward," he said.
"You used to be able to fly supersonically if you had a lot of money. Today, you cannot. ... We've been flying the same speeds for 50–60 years."
The biggest problem, he says, is the noise associated with supersonic flight, on both takeoff and landing and at 60,000 feet.
Planes that fly past the speed of sound — about 760 mph — create shock waves that hit the ground with a startling thud, or "sonic boom."
That's why the FAA won't let them fly over land, limiting them to transoceanic routes.
What to watch: NASA researchers, along with Lockheed Martin, are designing a new supersonic plane that turns the sonic boom into "a gentle thump."
NASA plans to fly the plane over select U.S. communities to see how people react. That data will then help regulators set noise standards for supersonic flight.
Companies are rapidly designing private space stations that could one day dominate operations in orbit around Earth, Axios' Miriam Kramer reports.
Why it matters: NASA is hoping private industry will start to take over operations in low-Earth orbit once the International Space Station comes to an end, creating a robust commercial market in that part of space.
Commercially operated private space stations are a big part of NASA's vision to buy services from companies in orbit and then focus on further afield goals like getting to the Moon and Mars.
Driving the news: Under a new initiative, NASA will help support companies as they develop space stations and carry out preliminary design reviews — an important technical assessment of what it will take to get a station flying — by the end of fiscal year 2025.
On the heels of that announcement, Sierra Nevada Corporation announced its plans to build a private space station.
Another company, Axiom Space, already has plans in motion to build its own commercial space station after first attaching a module to the International Space Station at some point in the coming years.
Between the lines: NASA wants to avoid having a gap in the agency's regular access to orbit when the ISS is retired before the end of the decade.
The space agency was forced to rely on Russia for access to orbit when the space shuttle program ended before commercial flyers like SpaceX were up and running.
By partnering with private companies now, the agency is signaling it wants to be able to transition smoothly to private stations instead of a hard stop when the ISS ends.
NASA has already effectively proved out this kind of public/private partnership model with SpaceX flying astronauts to orbit.
But, but, but: Operating a private space station is a much bigger task than simply launching people to space, and some experts in the industry say there isn't enough time for private companies to get their space stations functioning before the ISS comes to an end.
The funding attached to NASA's new program also may not be enough to get these stations off the ground in time.
"I don't see how they're going to get it together by 2024 [or] 2028," Victoria Samson of the Secure World Foundation told Axios. "I think it is much more likely that we'll see the Chinese space station well before the commercial space station or a private-sector space station."
Standing water surrounds corn plants. Photo: Daniel Acker/Bloomberg via Getty Images
A leading synthetic biology company is using bioengineering to try to create more resilient crops.
Why it matters: Extreme weather and a 7.8 billion-and-growing global population are ratcheting up pressure on an already fragile food system — and the environments that support it.
An estimated 20–40% of crops are lost to pests around the world each year, costing the global economy about $290 billion, according to the UN Food and Agriculture Organization.
More than 550 insect species are resistant to pesticides, and it costs an estimated $300 million "to bring an insecticide from molecule to market, and about eight to 10 years," Bruce Steward of insecticide and chemical company FMC recently told Hoosier Ag Today.
What's next: Gingko Bioworks and Corteva Agriscience announced a two-year research agreement to use the tools of synthetic biology to try to speed the discovery — and lower the cost — of natural compounds for more sustainable, effective and specific insecticides, pesticides and fungicides.
Gingko will use its cell engineering platform and library of DNA sequences to identify, improve and produce different enzymes and natural compounds that Corteva will then test in greenhouse trials.
"Nature has solutions for farmers to address food loss and crop protection, and it is a matter of harvesting those," says Jennifer Wipf, senior vice president of commercial cell engineering at Gingko.
Gingko hopes to speed the process, but regulatory challenges will be part of the development, says Kevin Madden, senior vice president of platform commercialization at the company.
Go deeper: Watch Axios' new video about how synthetic biology is changing what we eat — and more.
A message from Deloitte
The top four industry trends of 2021
Deloitte's 2021 U.S. Industry Outlooks report reveals the four key trends shared across industries during the pandemic:
Accelerating digitization.
Evolving the customer relationship.
Investing in tomorrow's business foundations.
Focusing on corporate social responsibility.
4. Rapid coronavirus testing moves forward
Illustration: Aïda Amer/Axios
The federal government is pushing forward on rapid, at-home coronavirus tests, Axios' Marisa Fernandez reports.
Why it matters: Testing remains an important part of controlling the pandemic, even as vaccinations continue to rise — both for people who haven't yet been vaccinated and to catch emerging outbreaks early.
Also this week, the Centers for Disease Control and Prevention and the National Institutes of Health announced a program that will provide volunteers in Tennessee and North Carolina with at-home tests.
Recipients can also take part in an optional survey designed to determine whether frequent testing changes people's behaviors.
5. Worthy of your time
Beauty filters are changing the way young girls see themselves (Tate Ryan-Mosley — MIT Tech Review)
Jolly gene giant: The line between Beijing and a biotech giant is blurring (Brent Crane — The Wire China)
Living in a world without stars: This great reset offers little hope for the future of humanity (Curtis White — Lapham's Quarterly)
Lost in thought: The psychological risks of meditation(David Kortava — Harper's)
6. 1 spring thing: Brace for Brood X
Adult cicadas in Reston, Va., during their last visit in 2004. Photo: Richard Ellis/Getty Images
Like people in a pandemic winter, periodical cicadas are waiting for the warmer weather of spring.
What's happening: In a few weeks, billions of the insects are predicted to emerge in parts of the eastern U.S. after 17 years — and the vast majority of their life — underground.
Brood X is one of the largest of 15 groups of cicadas that come out en massein the U.S. at different time intervals — some every 13 years, others every 17, and in rarer alignments, at the same time.
Periodical cicadas (Magicicada) make an appearance most years. (And the adults of annual cicadas, which have a two-year life cycle, emerge every year to reproduce.)
What to expect: Once the soil temperature reaches 64°F, typically in late April or early May, billions of noisy, red-eyed, black-bodied cicadas will emerge in Pennsylvania, Tennessee, Indiana and several spots in between.
They'll then make a bunch of noise, mate and lay their eggs in trees — all within four to six weeks.
Those cicadas will die and their nymphs will fall to the ground, bury in to feed on tree roots, and the cicada cycle starts again.
What's next: Who knows what the future holds— and, as Vox's Brian Resnick notes, how cicadas even know when it has arrived — but set your clocks: Brood X will be back in 2038.
A message from Deloitte
Racial equity and businesses: Beyond diversity and inclusion
Businesses are becoming more diverse and inclusive, but their efforts have yet to change outcomes for millions of Black Americans.
What this means: To achieve a more equitable future, companies must challenge beliefs, change behaviors and take action to dismantle systemic racism and inequity.
Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content.
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insidecroydon posted: "Croydon North MP Steve Reed has written to a firm of property developers demanding that they cease immediately all work on a new block of flats on a residential street in Upper Norwood, threatening them that they may need to rebuild a demolished bungalow,"
Croydon North MP Steve Reed has written to a firm of property developers demanding that they cease immediately all work on a new block of flats on a residential street in Upper Norwood, threatening them that they may need to rebuild a demolished bungalow, in the same manner that a listed pub in Kilburn was […]
The global biotech market is expected to grow 15.8% a year. And that is just for the average company. Now check out these 4 superior players. Read More >>
Do what you love and engage in activities that you enjoy doing with the people you love to be with. Stimulus from other people doing similar things will be the catalyst for new ideas and new goals regarding your work. You will learn a great deal.
Do what you love and engage in activities that you enjoy doing with the people you love to be with. Stimulus from other people doing similar things will be the catalyst for new ideas and new goals regarding your work. You will learn a great deal.
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The prospect of a new love, promised by the Magician and the Sun, is putting a big happy smile on your face today, dear friend. You're feeling a surge of passion in your heart. This will be directed either to your significant other – or to an attractive stranger that you meet by chance. The keyword for this beautiful sunny day is optimism. Mark it with a pink heart in your calendar! In the professional sphere, a new opportunity is on the horizon… Signing a contract, obtaining a loan, a large order from a client – nothing's impossible. Under the combined influence of Justice and the Magician you can be sure to have the necessary qualities to take new things on board and handle them with intelligence. You also know how to weigh up the pros and the cons, and you are able to make well-informed decisions...
The prospect of a new love, promised by the Magician and the Sun, is putting a big happy smile on your face today, dear friend. You're feeling a surge of passion in your heart. This will be directed either to your significant other – or to an attractive stranger that you meet by chance. The keyword for this beautiful sunny day is optimism. Mark it with a pink heart in your calendar! In the professional sphere, a new opportunity is on the horizon… Signing a contract, obtaining a loan, a large order from a client – nothing's impossible. Under the combined influence of Justice and the Magician you can be sure to have the necessary qualities to take new things on board and handle them with intelligence. You also know how to weigh up the pros and the cons, and you are able to make well-informed decisions...Read More
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Love can be like the weather - hot and steamy one day, cold and foggy the next. Your Daily Love Tarot is like a forecast for each day.... Pick A Card ›
If you are going out on that first date, then you will most likely have a whale of a time. The current aspect ensures a perfect atmosphere full of fun and laughter, and also some very scintillating and stimulating conversation. You will find each other excellent company, and what's more, you can flirt to your heart's content. The chances of wanting to get together again are very high.
If you are going out on that first date, then you will most likely have a whale of a time. The current aspect ensures a perfect atmosphere full of fun and laughter, and also some very scintillating and stimulating conversation. You will find each other excellent company, and what's more, you can flirt to your heart's content. The chances of wanting to get together again are very high.
In your natal chart, the zodiac sign energy at play show your strengths, weaknesses, biggest fears, and more. Here, you'll receive a detailed birth chart analysis that shows who you really are. Shop Now ›
LOVE COMPATIBILITY
Zodiac love compatibility is complex. Two signs may seem like the most compatible zodiac signs, but in reality, they may have completely different relationship goals. Find out whether you and your partner are a perfect match by putting your zodiac compatibility to the test. Shop Now ›
Love can be like the weather - hot and steamy one day, cold and foggy the next. Your Daily Love Tarot is like a forecast for each day.... Pick A Card ›
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Taking care of your body through diet and exercise is a lifetime process. So is taking care of your mind. With the current transits, this is a wonderful time to start reading (or do you already have one or two books you are working on?) or doing other activities to stir your creative imagination. Keep your brain healthy! And we can never know enough about how the food we ingest effects our well-being, and which of the natural substances available to us can benefit our health most.
Taking care of your body through diet and exercise is a lifetime process. So is taking care of your mind. With the current transits, this is a wonderful time to start reading (or do you already have one or two books you are working on?) or doing other activities to stir your creative imagination. Keep your brain healthy! And we can never know enough about how the food we ingest effects our well-being, and which of the natural substances available to us can benefit our health most.
Mixed messages are the worst! Discover the truth with a live psychic reading.Chat online now.
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What's coming for your zodiac sign? Our yearly horoscope covers every topic including love and money. Also included are key astrological dates to watch for, so you'll know exactly what's ahead. Shop Now ›
Love can be like the weather - hot and steamy one day, cold and foggy the next. Your Daily Love Tarot is like a forecast for each day.... Pick A Card ›
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The Best Date Ideas for Zodiac Sign Aries
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This year could be the biggest one yet for the unstoppable electric vehicle megatrend — but if..
EDITOR'S NOTE: This year could be the biggest one yet for the unstoppable electric vehicle megatrend — but if you're looking to take advantage, the time to act is now. That's why Luke Lango has just released his picks for the 11 best EV stocks of 2021. Each one has been hand-selected for its potential to deliver life-changing profits as electric vehicles continue to disrupt the automotive industry. Keep reading to see how you can claim your free report.
Hi Reader,
Sometimes an investing trend is so powerful, so red-hot, that I go a little crazy trying to get it in your hands.
This is one of those times.
I've just published an extensive report on electric vehicles, including the 11 electric vehicle stocks that I believe could soar to 5X… 10X… even 15X gains… starting right now.
Now, here's where the "crazy" comes in: I've made this report available for free.
I'm serious – you can claim your copy right now by clicking here.
It's my way of removing all the barriers, which is absolutely critical given how quickly this megatrend is moving…
November alone saw gains as high as 119%... 159%... even 211% in this sector…
But I believe the 11 stocks I've outlined in my report could dwarf those gains.
In fact, I think they're already well on their way to creating a new class of millionaires...
Which makes getting this report in your hands my top priority.
So don't miss out – just click here to claim your copy of 11 Electric Vehicle Stocks to Buy for 2021.
Regards,
Luke Lango
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We see a shift in the energy today as the moon moves from daring Sagittarius into practical Capricorn this morning and Mercury glides into Aries later. The vibe is grounded, but you'll also feel in the mood to bring structure to your home and lifestyle. If you've been putting off chores or home improvement tasks, today is the day to take care of...
We see a shift in the energy today as the moon moves from daring Sagittarius into practical Capricorn this morning and Mercury glides into Aries later. The vibe is grounded, but you'll also feel in the mood to bring structure to your home and lifestyle. If you've been putting off chores or home improvement tasks, today is the day to take care of...Read More
Stressed out? Read our Quarantine Horoscope for help navigating these strange times. Our daily astrology forecast focuses on what to do while at home during Coronavirus.
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A lot has happened in the stock market in 2021 already. The GameStop craze and Reddit investors made enough noise that the government is now looking into creating new taxes on financial trades.
None of that matters if you know how to make big money with your investments.
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Biden's Next Move Will Catch Most Americans by Surprise
In his first week in the White House, President Biden broke all records by signing 19 executive orders…
Including one that, according to some estimates, took away 70,000 jobs involved with the Keystone XL pipeline.
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insidecroydon posted: "The Conservative Party candidates in the council by-elections next month include one man who, the last time he stood for election to Croydon Council, was accused of telling falsehoods by no less than three bishops, and a woman who allowed her name to be u"
The Conservative Party candidates in the council by-elections next month include one man who, the last time he stood for election to Croydon Council, was accused of telling falsehoods by no less than three bishops, and a woman who allowed her name to be used on dodgy letters of support for Gavin Barwell (remember him?). […]
Do your best to have a positive relationship with parents. An act of kindness will show you care - this could be as simple at taking time to chat or recognizing their contribution to your life. Be a good listener. Get out and exercise if you are feeling particularly stressed today.
Do your best to have a positive relationship with parents. An act of kindness will show you care - this could be as simple at taking time to chat or recognizing their contribution to your life. Be a good listener. Get out and exercise if you are feeling particularly stressed today.
Mixed messages are the worst! Discover the truth with a live psychic reading.Chat online now.
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2021 CHINESE HOROSCOPE
Unpack 2021 and what Year of the Ox has in store for you! From insight on your love life to career and finances, no topic is off limits in this report. It includes a comprehensive look at your year ahead based on your Chinese zodiac sign with a month-by-month analysis of specific dates to pay attention to, and more! Shop Now ›
Love can be like the weather - hot and steamy one day, cold and foggy the next. Your Daily Love Tarot is like a forecast for each day.... Pick A Card ›
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I can't wait until the COVID-19 pandemic is behind us — way behind us… Hopefully we can go on and never look back at this again, and instead look to better times ahead.
That said, there are a number of so-called "back-to-normal stocks" that will benefit from America's grand reopening as the pandemic (hopefully!) winds down.
One area of the stock market that's already strong and bound to bounce higher as more vaccinations go around is airline stocks...
Though, airline stocks have experienced a recent pullback...
The Biden administration is preparing to unveil this week details of a massive infrastructure package that is expected to cost in the neighborhood of $3 trillion.
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You should be able to overcome all kinds of obstacles as you pursue your goals under the ambitious Capricorn moon today. You're a real go-getter, and you have success in your sights. No matter what you've been through during quarantine, you're determined under this lunation to fight for what you deserve. This is very upwardly mobile energy, so...
Don't be surprised if someone rubs you the wrong way today, Gemini. It's likely that pressure has been building in other people's minds for quite some time. They might have been afraid to share their feelings before simply because they were too intimidated to say anything that might cross you. The molten lava has finally gotten hot enough and the volcano is about to erupt.
If you are going out on that first date, then you will most likely have a whale of a time. The current aspect ensures a perfect atmosphere full of fun and laughter, and also some very scintillating and stimulating conversation. You will find each other excellent company, and what's more, you can flirt to your heart's content. The chances of wanting to get together again are very high.
Taking care of your body through diet and exercise is a lifetime process. So is taking care of your mind. With the current transits, this is a wonderful time to start reading (or do you already have one or two books you are working on?) or doing other activities to stir your creative imagination. Keep your brain healthy! And we can never know enough about how the food we ingest effects our well-being, and which of the natural substances available to us can benefit our health most.
Do what you love and engage in activities that you enjoy doing with the people you love to be with. Stimulus from other people doing similar things will be the catalyst for new ideas and new goals regarding your work. You will learn a great deal.
Mixed messages are the worst! Discover the truth with a live psychic reading.Chat online now.
In your natal chart, the zodiac sign energy at play show your strengths, weaknesses, biggest fears, and more. Here, you'll receive a detailed birth chart analysis that shows who you really are. Shop Now ›
2021 PREMIUMHOROSCOPE
What's coming for your zodiac sign? Our yearly horoscope covers every topic including love and money. Also included are key astrological dates to watch for, so you'll know exactly what's ahead. Shop Now ›
Love can be like the weather - hot and steamy one day, cold and foggy the next. Your Daily Love Tarot is like a forecast for each day.... Pick A Card ›
The shrewd billionaire just made a VERY strange confession about the future of his electric car empire. The secret he reveals could also mint fortunes for smart, fast-moving investors. This has nothing to do with buying shares of Tesla.
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This week, I've been fortunate enough to be on vacation with my family.
I know Rob talked about this yesterday, but it's impossible to over-stress the value of a good rest.
Traders need to spend some time getting away from their computers and recharging their batteries.
It doesn't have to be a big family trip.
Maybe you can just spend a day in the park or go to a restaurant that you really love.
Only you know what really refreshes you.
But I think it's critical that you find it.
Because on long weekends like this, you need to be able to stop worrying about your trading.
That could even mean closing losing positions just to get them off your mind. You should usually be doing that, anyway.
Whatever you need to do, find some time to relax this weekend. You deserve the break! You work hard!
Have a great weekend, and Happy Easter and Happy Passover to anyone who celebrates!
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It's fascinating stuff. And more importantly, it's opening doors to some serious wealth...
Placing a bet with Bill Gates when he first started Microsoft would've been the move of your career... But betting on this new technology he's now touting could be the move of your lifetime...
Good morning. If this were an Applebees, we'd be in the back prepping the chocolate molten lava cake for our Sunday Edition's birthday tomorrow.
For a little tease of what to expect: We're not saying we interviewed the man of steel, but we did interview a man of steel...and he's got some business chops on and off the silver screen.
Nation: A Capitol Police officer was killed and another was injured after a man rammed into a barricade with a car. The suspect emerged with a knife, and later died after being shot by authorities.
Markets: The stock market was off yesterday, but crypto never rests. Ether, the second-largest cryptocurrency behind bitcoin, jumped to an all-time high yesterday.
The March jobs report, released yesterday by the Labor Department, was like being on a 12-hour flight next to a crying baby when the captain says, "We have begun our descent."
The economy added 916,000 jobs in March, the biggest gain since last August and way up from the 468,000 added in February. The unemployment rate also ticked down from 6.2% to 6%, its lowest level since before the pandemic.
The biggest winners:
Leisure and hospitality = 280,000 jobs added. Newton's third law says that the sector that was battered the most during the pandemic also has the most to gain from a recovery.
Construction = 110,000. Brew readers know the housing market has been on fire since at least last summer, and in January home prices posted their biggest annual gain in 15 years.
Putting it in perspective
Economists say this jobs report represents a turning point in the labor market's road back to health. Because not only was this the third straight month of positive job growth...the future looks even brighter.
The vaccination rollout has ramped up, raising hopes that the public health crisis that forced businesses to close could come to an end in the next several months.
The economy basically just raised a $1.9 trillion Series E in the form of Biden's stimulus plan. Flush with pandemic-era savings and additional $1,400 stimulus checks, consumers are ready to spend.
But we haven't landed the plane yet. Of the 20+ million jobs lost in March and April of 2020, 8.4 million have yet to be recovered. And the number of Americans who've been out of work for at least six months increased last month.
Looking ahead...with the wind at his back, Biden wants to proceed full sail. The $2.3 trillion infrastructure proposal he introduced this week, literally called the American Jobs Plan, would create 13.5 million jobs by the end of his first term, as opposed to 11.4 million without the plan, per Moody's Analytics. But with the GOP and corporate America wary of a tax hike, getting that done won't be easy.
Major League Baseball announced it was moving its All-Star Game and the 2021 draft out of Georgia due to the state's new restrictive voting law. The All-Star Game, which was supposed to take place at Atlanta's Truist Park in July, had been planned since 2019, but the league said Georgia's law is at odds with its values.
Commissioner Rob Manfred elaborated on those values in a statement:
"Major League Baseball fundamentally supports voting rights for all Americans and opposes restrictions to the ballot box. ...Fair access to voting continues to have our game's unwavering support."
In response, Georgia Gov. Brian Kemp said the league's decision indicates that "cancel culture and woke political activists are coming for every aspect of your life, sports included."
Big picture: This week, GA-based corporations including Delta and Coca-Cola came out forcefully against the bill. But MLB's is the first big action taken by a company in order to inflict economic pain on the state. We'll see if others follow.
In the US…the latest numbers from the White House: More than 100 million Americans (almost a third of the population) have received their first dose of a coronavirus vaccine, and yesterday the US administered 3.975 million doses, a new daily record.
Around the world...150 countries have given more than 630 million doses. Nearly 50% of the UK population has received a first dose.
More headlines
Airplane mode: Vaccinated people just got the all-clear from the CDC to start traveling recreationally again, which is great news ahead of the busy Easter weekend. But the agency says to keep the mask on and practice social distancing.
Florida, man: Florida Gov. Ron DeSantis issued an executive order yesterday banning "vaccine passports," or documents that prove vaccination. If anyone still wants to show off, Recode reports that vaccine-themed merch is huge on Etsy right now.
Outer set out to create outdoor furniture that was a triple threat: bed-comfy, indoor furniture-stylish, and camping gear-durable. Everyone said the necessary fabric didn't exist...so Outer invented it. Outer's performance fabric is stain, fade, and mold resistant.
Outer's patented OuterShell® technology rolls out over the sofa to protect it from dirt and debris, so there's always a dry, clean spot for Richard to sit. When the two of you settle in for a chat, you can just tuck the OuterShell behind a cushion.
And...just in case Richard gets on your case about sustainability: Outer uses materials from recycled plastic bottles.
It's a great time to invest in your home and an even better time to hang out on a comfy sofa in your backyard. Do both with Outer.
Stat: At least 55 of the largest companies in the US, including Nike, FedEx, and Salesforce, paid no federal corporate income tax in the most recent fiscal year, per a report from the left-leaning research group Institute on Taxation and Economic Policy (ITEP). How'd they get around it? Government tax breaks, particularly from the 2017 tax bill and 2020's CARES Act, according to ITEP.
Quote: "People underestimate the difficulty of scaling 'vibe,' where WeWork has a proven talent."
Prof. Scott Galloway lays out a bull case for WeWork, which is set to go public via SPAC at a $9 billion valuation. When WeWork initially tried to go public a few years ago at a valuation of $47 billion, Galloway said, "Any equity analyst who endorses this stock above a $10 billion valuation is lying, stupid, or both."
Read: This is a story about how I lost $10,000,000 by doing something stupid.(Andrew Wilkinson)
Mergers and acquisitions did gangbusters last quarter, breaking all-time Q1 records for global M&A and private equity-backed deals, according to Refinitiv.
The value of pending and completed deals jumped 93% from Q1 2020, even though the number of deals only increased 6%.
About half of M&A activity was US-based.
Private equity deals worldwide rose 116% from last year, making this PE's strongest Q1 ever.
What happened? Super low borrowing costs, investors making up for lost time during the pandemic, and everyone's favorite acronym. SPACs, or special purpose acquisition companies, accounted for ~28% of US dealmaking in the first quarter.
The largest SPAC deal to date happened in February, when veteran investor Michael Klein's SPAC took Lucid Motors public in a $24 billion deal.
Looking ahead...the current M&Amentum could slow down if SPAC mania stalls. The SEC is ramping up oversight and, since the start of last week, four deals were postponed, per Bloomberg.
What do you get when you combine BTS, Ariana Grande, Justin Bieber, and Demi Lovato? One killer pop playlist, and now, a global powerhouse of a music company. HYBE acquired Ithaca Holdings for about $1 billion yesterday, but unless you own some turntables, you might want a refresher on who these two audio giants are:
HYBE is a South Korean music company formerly named Big Hit Entertainment. It manages a little-known group called BTS, as well as other rising K-pop artists like SEVENTEEN and TXT.
Ithaca Holdings is Scooter Braun's multi-label music empire. It oversees a) SB Projects, which manages The Biebs, Grande, Lovato, and more, and b) the country-focused Big Machine Label Group, known in part for its terse breakup with Taylor Swift.
Zoom out: A South Korean music company acquiring some of the US's most prominent labels, instead of the other way around, is a sign that the entertainment industry has come out from the Hollywood sign's shadow.
Looking ahead...HYBE has ambitions to be a lifestyle brand with its hands in travel, real estate, and more. It's unclear exactly what that'll look like, but if BTS's rabid "Army" fan club backs it, it'll be big.
WHAT ELSE IS BREWING
Tesla delivered 185,000 electric vehicles last quarter, more than doubling up its deliveries from a year ago.
John Krafcik is stepping down as the CEO of Waymo, the Alphabet subsidiary making self-driving cars.
The US and Iran have agreed to restart talks about returning to a nuclear deal, the State Dept. said yesterday.
BREW'S BETS
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Today, you just know. You are astute and you understand what someone means in what they say. The High Priestess tells you that you can trust your feelings if you sense that something has enduring value. However, you should have faith and confidence to wait if things do not move quickly enough. It's about time to take care, conserve, and hold on to something that could fulfill divine potential naturally.
Today, you just know. You are astute and you understand what someone means in what they say. The High Priestess tells you that you can trust your feelings if you sense that something has enduring value. However, you should have faith and confidence to wait if things do not move quickly enough. It's about time to take care, conserve, and hold on to something that could fulfill divine potential naturally.
Mixed messages are the worst! Discover the truth with a live psychic reading.Chat online now.
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insidecroydon posted: "Croydon's Black and Minority Ethnic Forum has entered the row over the government's controversial racism report that was published this week, saying that they were "deeply troubled" by its findings. The report has been accused this week of cherry-p"
Croydon's Black and Minority Ethnic Forum has entered the row over the government's controversial racism report that was published this week, saying that they were "deeply troubled" by its findings. The report has been accused this week of cherry-picking "data to suit a predetermined narrative, and sets out to gaslight people of colour with a […]
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