 |
|
|
|||||
About $22 billion of SpaceX’s government contracts are at risk and multiple U.S. space programs could face dramatic changes in the fallout from Elon Musk and President Donald Trump’s explosive feud on Thursday. The disagreement, rooted in Musk’s criticism of Trump’s tax-cut and spending legislation that began last week, quickly spiraled out of control. Trump lashed out at Musk when the president spoke in the Oval Office. Then in a series of X posts, Musk launched barbs at Trump, who threatened to terminate government contracts with Musk’s companies. Taking the threat seriously, Musk said he would begin “decommissioning” SpaceX’s Dragon spacecraft used by NASA. Hours later, however, Musk appeared to reverse course. Responding to a follower on X urging him and Trump to “cool off and take a step back for a couple of days,” Musk wrote: “Good advice. Ok, we won’t decommission Dragon.” Still, Musk’s mere threat to abruptly pull its Dragon spacecraft out of service marked an unprecedented outburst from one of NASA’s leading commercial partners. Under a roughly $5 billion contract, the Dragon capsule has been the agency’s only U.S. vessel capable of carrying astronauts to and from the International Space Station, making Musk’s company a critical element of the U.S. space program. The feud raised questions about how far Trump, an often unpredictable force who has intervened in past procurement efforts, would go to punish Musk, who until last week headed Trump’s initiative to downsize the federal government. If the president prioritized political retaliation and canceled billions of dollars of SpaceX contracts with NASA and the Pentagon, it could slow U.S. space progress. NASA press secretary Bethany Stevens declined to comment on SpaceX, but said: “We will continue to work with our industry partners to ensure the president’s objectives in space are met.” Musk and Trump’s tussle ruptured an extraordinary relationship between a U.S. president and industry titan that had yielded some key favors for SpaceX: a proposed overhaul of NASA’s moon program into a Mars program, a planned effort to build a gigantic missile defense shield in space, and the naming of an Air Force leader who favored SpaceX in a contract award. Taking Dragon out of service would likely disrupt the ISS program, which involves dozens of countries under a two-decade-old international agreement. But it was unclear how quickly such a decommissioning would occur. NASA uses Russia’s Soyuz spacecraft as a secondary ride for its astronauts to the ISS. SPACEX’S RISE SpaceX rose to dominance long before Musk’s foray into Republican politics last year, building formidable market share in the rocket launch and satellite communications industries that could shield it somewhat from Musk’s split with Trump, analysts said. “It fortunately wouldn’t be catastrophic, since SpaceX has developed itself into a global powerhouse that dominates most of the space industry, but there’s no question that it would result in significant lost revenue and missed contract opportunities,” said Justus Parmar, CEO of SpaceX investor Fortuna Investments. Under Trump in recent months, the U.S. space industry and NASA’s workforce of 18,000 have been whipsawed by looming layoffs and proposed budget cuts that would cancel dozens of science programs, while the U.S. space agency remains without a confirmed administrator. Trump’s nominee for NASA administrator, Musk ally and billionaire private astronaut Jared Isaacman, appeared to be an early casualty of Musk’s rift with the president when the White House abruptly removed him from consideration over the weekend, denying Musk his pick to lead the space agency. Trump on Thursday explained dumping Isaacman by saying he was “totally Democrat,” in an apparent reference to reports Isaacman had donated to Democrats. Isaacman has donated to some Republican but mostly Democratic candidates for office, according to public records. Musk’s quest to send humans to Mars has been a critical element of Trump’s space agenda. The effort has threatened to take resources away from NASA’s flagship effort to send humans back to the moon. Trump’s budget plan sought to cancel Artemis moon missions beyond its third mission, effectively ending the over-budget Space Launch System rocket used for those missions. But the Senate Commerce Committee version of Trump’s bill released late on Thursday would restore funding for missions four and five, providing at least $1 billion annually for SLS through 2029. Since SpaceX’s rockets are a less expensive alternative to SLS, whether the Trump administration opposes the Senate’s changes in the coming weeks will give an indication of Musk’s remaining political power. SpaceX, founded in 2002, has won $15 billion of contracts from NASA for the company’s Falcon 9 rockets and development of SpaceX’s Starship, a multipurpose rocket system tapped to land NASA astronauts on the moon this decade. The company has also been awarded billions of dollars to launch a majority of the Pentagon’s national security satellites into space while it builds a massive spy satellite constellation in orbit for a U.S. intelligence agency. In addition to not being in U.S. interests, former NASA Deputy Administrator Lori Garver said canceling SpaceX’s contracts would probably not be legal. But she also added, “A rogue CEO threatening to decommission spacecraft, putting astronauts’ lives at risk, is untenable.” Joey Roulette, Reuters
Category:
E-Commerce
Amazon famously started as an online bookstore. In the three decades since, it has disrupted how people buy, read, and review books through steps like undercutting local bookstore prices, launching the Kindle, and buying the book-review platform Goodreads.� Now, Amazon has announced new job cuts, including at its Kindle and Goodreads teams, Reuters reports. In total, the company is reportedly cutting fewer than 100 jobs across its book division. Since 2022, Amazon has laid off about 27,000 employees as part of a cost-cutting strategy, according to CNBC.� The online retailer claims its decision should streamline the impacted departments. As part of our ongoing work to make our teams and programs operate more efficiently, and to better align with our business roadmap, weve made the difficult decision to eliminate a small number of roles within the Books organization, an Amazon spokesperson told Reuters. Criticism over Goodreads stewardship Amazon bought Goodreads in 2013 and has since been accused by the publishing industry of neglecting the book tracker and having only bought it to prevent competition. Goodreads hasnt been all that well maintained, or updated, or kept up with, Jane Friedman, a publishing industry consultant, told The Washington Post in 2023. It does feel like Amazon bought it and then abandoned it. The online retailer also has a review system and launched a Your Books feature in 2023 for customers to track all their digital and print titles and get reading suggestions (another option available on Goodreads). Fast Company has reached out to Amazon for comment on how many jobs were cut at Goodreads and whether the online retailer is reducing its investment in the book review platform. Some individuals also dont use Goodreads because of its connection to Amazon, as noted by CBC last year. There are entire Reddit threads devoted to alternatives with comments like, I am doing everything to avoid Jeff Bezos. Thats a bit easier to do these days as far as trackers go. A number of alternatives to Goodreads have emerged over the years, such as The StoryGraph, Bookly, and BookWyrm.�
Category:
E-Commerce
Legend has it that Talking Heads played their first-ever show on June 5, 1975, in New York City, opening for the Ramones at CBGB on the Bowery. Now, 50 years later, stickers, wheatpaste posters, T-shirts, subway buskers, radio takeovers, an airplane banner, and billboards popped up along the Bowery, all with a variation of a single line: “Fa-Fa-Fa-Fa.” The cryptic street campaign is a throwback marketing push to celebrate the anniversary and a first-ever video for the bands hit song Psycho Killer, released this week. Directed by award-winning filmmaker Mike Mills, and starring Saoirse Ronan, the video chronicles the ups, downs, mundanity, absurdity, and joy of an everyday life. In a world in which CBGB is now a John Varvatos store, and the ability to reach millions of eyeballs is a small matter of algorithmic wizardry, simply seeing the Bowery plastered with less-than-obvious Talking Heads marketing is, frankly, refreshing.� Modern throwback Created by experiential studio De-Yan, working with Warner Music, the goal of the work was to celebrate the iconic song of a legendary band in a way that felt a bit more 77 than social network. Jason Kreher, De-Yans chief creative officer, says this wasnt a project aimed at marketing innovation, instead the goal is to capture a sense of wonder, fun, and curiosity. The brief from Warner was simple: Build buzz around the Talking Heads as a band for people who might not have heard about them, and for people who may have forgot about them. For younger people, a guerrilla marketing music campaign is as novel to them as the song Psycho Killer by the Talking Heads, says Kreher. You don’t have to reinvent the wheel every time to delight people. De-Yan is known for creating mesmerizing, technologically-driven live experiences for artists like Alicia Keys and Lady Gaga, as well as brands like Louis Vuitton and La Mer. Here, though, the means were decidedly lo-fi, but the goal remains the same. I don’t imagine this is going to win awards, because it doesn’t have to, says Kreher. The song says fa-fa-fa a lot. I thought that was funny. So we put it everywhere we possibly could until we ran out of money. I don’t know if that’s innovative but it’s the correct thing to do, and I’m really excited about it. There are bootleg T-shirts in a Chinatown shop, neon signs at indie record stores, local radio takeovers (WFAFA, New Yorks only station that only plays Psycho Killer), an aerial banner that just says FAFAFAFAFA, and iconic subway buskers playing the song all day on the F(A) train line. [Photo: courtesy De-Yan] Limits > Limitless Talking Heads fans may be pissed off that this anniversary brings only a new video and this fun campaign, rather than a full-on reunion tour (the band reportedly declined an $80 million offer from Live Nation last year). Here we have an iconic band and a hit song, but what impresses about this work is actually the restraint of keeping its promotion distinctly street level. Or at least as close as you can in 2025 (see: DudeWithSign). Its part of a growing trend among brands looking to create experiences to go along with their algorithm investments. According to a study from agency Archival, 74% of Gen Zs think IRL experiences are more important than digital ones. [Photo: courtesy De-Yan] Stats like that and work like this remind me of a recent edition of James Kirkhams Inked In & Iconic newsletter about the old Nintendo Game & Watch handheld gaming devices from the 1980s. As we hurtle toward Zuckerberg’s ‘infinite creative’ future, where AI spits out endless variations of soulless content, Game & Watch reminds us what you get from limitations, simplicity and constraint, Kirkham wrote. Sometimes the most valuable thing you can offer isn’t more. It’s enough. Maybe that’s what we’re really searching for in our underground raves and our no-phone policies and our limited edition everything: the Game & Watch promise. A finite universe we can master. Boundaries. Limitations that set us free. Virality may be every brands goal, but the process behind it has become so mechanized that words like authentic and organic have seemingly lost all meaning. Kreher appreciates the limitations and constraints of budget, time, and production to craft something different. Experiences are a marketer’s fastest shortcut to meaningfl attention, he says. This was as gritty as I could get so we can make a moment that feels like a very specific time and place.
Category:
E-Commerce
The most powerful man in the world and the richest man in the world finally turned on each other. Yesterday, President Donald Trump and Tesla CEO Elon Musk had a full-scale war of words that seems to have been the final nail in the coffin for their bromance, which had persisted since Musk endorsed Trump for president in the summer of 2024. But it wasnt only their bromance that took a beating yesterday. Teslas stock price (Nasdaq: TSLA) did, too. Shares fell nearly 15% as investors feared that the rift between Trump and Musk could lead to troubles for the electric car maker. How are TSLA shares performing the morning after the dust-up? Heres what you need to know. Trump-Musk feud crashes TSLA stock Yesterday saw the arrival of something that many saw coming from a mile away: the inevitable turn of Donald Trump and Elon Musk against each other. However, few people probably expected the event to unfold as publicly in real-time as it did, with the president and Tesla CEO exchanging accusations, insults, and allegations on the social media platforms that they own, Truth Social and X. The feud spiraled out of Elon Musks increasing vocal opposition in recent days to the president’s proposed One Big Beautiful Bill that would see billions worth of tax cuts go to the richest Americans while adding an estimated $2.4 trillion to the deficit. Yesterday, Musk called the bill a disgusting abomination. Trump then addressed Musks comments with reporters, saying he and Musk had a great relationship and adding, I dont know if we will anymore. From there, things quickly spiraled. While the spectacle provided hours of entertainment and fascination to general audiencesand gave journalists plenty to write aboutTesla investors were probably dying a little inside with each social media volley. Shares in Elon Musks electric car company continued to crash throughout the day as the Trump-Musk feud intensified. By the end of trading yesterday, TSLA shares had fallen 14.26% to $284.70 per sharewiping more than $150 billion from Teslas market capits largest single-day loss in its history. But now it’s the morning afterand both investors and the two men involved in the feud have, hopefully, had time overnight for a breather. Indeed, it seems that at least Tesla investors have, as TSLA shares are moving upward in early-morning trading. TESLA rises in premarket trading As of the time of this writing, TSLA shares are currently trading up about 3.96% to $296 per share in premarket trading. Teslas share price recovery comes after Musk appeared to signal on X that he was open to healing the rift that had emerged between him and Trump, notes Reuters. In a post on X, billionaire investor Bill Ackman wrote that I support @realDonaldTrump and @elonmusk and they should make peace for the benefit of our great country. We are much stronger together than apart. Musk then responded to this post, saying, Youre not wrong. Shortly after, the recovery in Teslas stock price began. However, given that TSLA shares have only regained a fraction of what they lost yesterday, it’s likely that investors are erring more on the side of cautious optimism than absolute certainty that Trump and Musk will make up. Investors are still probably very likely worried about just how bad a continuing feud could be for Musk’s business interests. The president at one point threatened Musk’s companies government contracts. If the president so wished, he could also make life much more difficult for Musks publicly traded company, Tesla, by hindering its upcoming robotaxi rollout through regulations or introducing other measures that would make the car companys business more difficult. TSLA stock has had a horrible 2025 Yesterdays dramatic share price drop in Tesla was nothing less than horrifying for most Tesla investors. The nearly 15% drop was the single worst drop ever in Teslas share price in one day, noted Reuters. At the same time, Teslas shares dropping is something investors are used to this year. While Tesla shares surged to an all-time high in December, after Musk and his donations helped return Trump to the White House, the stock has taken a beating ever since Trump took office in January. Before yesterday, there were two big reasons for TSLA’s 2025 share price trouble: Teslas deteriorating brand image among consumers who found Elon Musks involvement in politics and the Department of Government Efficiency (DOGE) off-putting and President Trumps Liberation Day tariffs, which threatened to raise prices. After yesterday, a third contributing factor to TSLAs price drop in 2025 is now the Trump-Musk feud. Since the beginning of the year, Tesla shares had fallen nearly 30% as of yesterdays close. From a high of over $428 in January, Tesla shares bottomed out in April at below $218. Until yesterday, they had managed to claw back some of that loss, rising to above $360 in late May. Then came yesterdays bromance bust-upand that nearly 15% decline. Where TSLA stock goes from here largely depends on the mood of the two men in the days ahead.
Category:
E-Commerce
U.S. President Donald Trump often says the 2026 World Cup and 2028 Los Angeles Olympics are among the events he is most excited about in his second term.Yet there is significant uncertainty regarding visa policies for foreign visitors planning trips to the U.S. for the two biggest events in sports.Trump’s latest travel ban on citizens from 12 countries added new questions about the impact on the World Cup and the Summer Olympics, which depend on hosts opening their doors to the world.Here’s a look at the potential effects of the travel ban on those events. What is the travel ban policy? When Sunday ticks over to Monday, citizens of 12 countries should be banned from entering the U.S.They are Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen.Tighter restrictions will apply to visitors from seven more: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.Trump said some countries had “deficient” screening and vetting processes or have historically refused to take back their own citizens. How does it affect the World Cup and Olympics? Iran, a soccer power in Asia, is the only targeted country to qualify so far for the World Cup being co-hosted by the U.S., Canada and Mexico in one year’s time.Cuba, Haiti and Sudan are in contention. Sierra Leone might stay involved through multiple playoff games. Burundi, Equatorial Guinea and Libya have very outside shots.But all should be able to send teams to the World Cup if they qualify because the new policy makes exceptions for “any athlete or member of an athletic team, including coaches, persons performing a necessary support role, and immediate relatives, traveling for the World Cup, Olympics, or other major sporting event as determined by the secretary of state.”About 200 countries could send athletes to the Summer Games, including those targeted by the latest travel restrictions. The exceptions should apply to them as well if the ban is still in place in its current form. What about fans? The travel ban doesn’t mention any exceptions for fans from the targeted countries wishing to travel to the U.S. for the World Cup or Olympics.Even before the travel ban, fans of the Iran soccer team living in that country already had issues about getting a visa for a World Cup visit.Still, national team supporters often profile differently to fans of club teams who go abroad for games in international competitions like the UEFA Champions League.For many countries, fans traveling to the World Cup an expensive travel plan with hiked flight and hotel prices are often from the diaspora, wealthier, and could have different passport options.A World Cup visitor is broadly higher-spending and lower-risk for host nation security planning.Visitors to an Olympics are often even higher-end clients, though tourism for a Summer Games is significantly less than at a World Cup, with fewer still from most of the 19 countries now targeted. How is the U.S. working with FIFA, Olympic officials? FIFA President Gianni Infantino has publicly built close ties since 2018 to Trump too close according to some. He has cited the need to ensure FIFA’s smooth operations at a tournament that will earn a big majority of the soccer body’s expected $13 billion revenue from 2023-26.Infantino sat next to Trump at the White House task force meeting on May 6 which prominently included Secretary of Homeland Security Kristi Noem. FIFA’s top delegate on the task force is Infantino ally Carlos Cordeiro, a former Goldman Sachs partner whose two-year run as U.S. Soccer Federation president ended in controversy in 2020.Any visa and security issues FIFA faces including at the 32-team Club World Cup that kicks off next week in Miami can help LA Olympics organizers finesse their plans.“It was very clear in the directive that the Olympics require special consideration and I actually want to thank the federal government for recognizing that,” LA28 chairman and president Casey Wasserman said Thursday in Los Angeles.“It’s very clear that the federal government understands that that’s an environment that they will be accommodating and provide for,” he said. “We have great confidence that that will only continue. It has been the case to date and it will certainly be the case going forward through the games.”In March, at an IOC meeting in Greece, Wasserman said he had two discreet meetings with Trump and noted the State Department has a “fully staffed desk” to help prepare for short-notice visa processing in the summer of 2028 albeit with a focus on teams rather than fans.IOC member Nicole Hoevertsz, who is chair of the Coordination Commission for LA28, expressed “every confidence” that the U.S. government will cooperate, as it did in hosting previous Olympics.“That is something that we will be definitely looking at and making sure that it is guaranteed as well,” she said. “We are very confident that this is going to be accomplished. I’m sure this is going to be executed well.”FIFA didn’t immediately respond to a request for comment about the new Trump travel ban. What have other host nations done? The 2018 World Cup host Russia let fans enter the country with a game ticket doubling as their visa. So did Qatar four years later.Both governments, however, also performed background checks on all visitors coming to the month-long soccer tournaments.Governments have refused entry to unwelcome visitors. For the 2012 London Olympics, Belarus President Alexander Lukashenko who is still its authoritarian leader today was denied a visa despite also leading its national Olympic body. The IOC also suspended him from the Tokyo Olympics held in 2021. AP Sports Writer Beth Harris in Los Angeles contributed to this report. AP soccer: https://apnews.com/hub/soccer and AP Olympics at https://apnews.com/hub/2024-paris-olympic-games Graham Dunbar, AP Sports Writer
Category:
E-Commerce
Sites : [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] next »