There Is A Lot of Money to Be Made in Space

THE PROFITS💸

• There Is A Lot of Money to Be Made in Space

• Judge Accidentally Abandons Ship As He Oversees a Boeing Case

• 818,000 Jobs Overstatement

Read Time: 6 mins

THE BIG PROFITS💸

There Is A Lot of Money to Be Made in Space
Asteroid mining startups have commenced.

Judge Accidentally Abandons Ship As He Oversees a Boeing Case
Federal Judges continue to be a conversation of major concern with their financial activities.

818,000 Jobs Overstatement
There are more cracks in the job market.

AstroForge Startup

There Is A Lot of Money to Be Made in Space

Asteroid mining startup AstroForge has struck gold—not in space, but through a significant $40 million Series A funding round, bringing its total funding to $55 million.

Founders Matt Gialich and Jose Acain announced this milestone in a blog post, describing it as a potential "giant leap forward" in creating a new supply chain of raw materials sourced from space.

While asteroid mining might sound like science fiction, recent missions like NASA's OSIRIS-REx and Japan's Hayabus2 have proven the concept, albeit on a small scale.

Despite technical challenges, including communication issues during their first demo mission, AstroForge is forging ahead with two more missions planned for 2024 and 2025, with the latter aiming to land on a near-Earth asteroid.

The legal landscape is also evolving, as U.S. legislation now allows companies to claim ownership of resources they extract from asteroids, though international law remains more restrictive.

Opinion Poll

Boeing

Judge Accidentally Abandons Ship As He Oversees a Boeing Case

In Seattle, a federal judge overseeing a $72 million Boeing case accidentally traded the company's stock during the trial.

Judge James Robart revealed that his wife's IRA, managed by a bank, bought and sold Boeing shares worth between $1,000 and $15,000 while he was presiding over the case.

Upon discovering this, Robart quickly sold the stocks but didn’t inform the lawyers involved, though he complied with required financial disclosures.

This incident highlights ongoing concerns about federal judges' financial activities, particularly regarding conflicts of interest in cases where they or their families hold stock.

Top Stories in Business

818,000 Jobs Overstatement

The U.S. economy added significantly fewer jobs in 2023 and early 2024 than previously reported, revealing deeper and earlier cracks in the labor market than initially thought.

The Labor Department recently announced that monthly payroll figures overstated job growth by approximately 818,000, reducing the average monthly job gains to 174,000 from the previously reported 242,000—a downward revision of 28 percent.

This adjustment, part of an annual process aligning survey estimates with more accurate state unemployment records, underscores a more pronounced slowdown in job creation as the unemployment rate has gradually risen to 4.3 percent.

Despite these revisions, the overall picture remains stable: job growth is slowing but not collapsing, and layoffs continue to be relatively low.

The revisions have brought job growth figures closer in line with other indicators showing a cooling labor market, with notable downward adjustments in sectors like professional services, hospitality, and retail.

Sports, Entertainment & Culture

Has MrBeast Lived Long Enough (On Top) and Became the Villain?

MrBeast’s reign as the fastest-growing YouTube channel has been overshadowed by Cristiano Ronaldo, who gained 20 million subscribers in just 24 hours after launching his channel.

While MrBeast still holds the title for the most subscribers on the platform, Ronaldo's rapid rise could challenge his dominance.

The surge in Ronaldo's subscriber count comes amidst ongoing controversies for MrBeast, including allegations of staged content and hiring a registered sex offender.

Despite the challenges, MrBeast remains a top figure on YouTube, though Ronaldo’s momentum could shift the balance.

Bill Belicheck Might be a Coach in the Hall Of Fame Sooner than Anticipated

The Pro Football Hall of Fame has announced changes to its selection process, including reducing the waiting period for coaches from five seasons to one, which could make Bill Belichick eligible for induction as early as 2026. Additionally, the coach and contributor categories have been separated, and new screening committees have been established to streamline the selection of nominees.

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Cash App Scam Warnings

Cash App Scam Warnings

Cash App, a popular mobile peer-to-peer payment platform, has become a hotspot for scammers. The rise in fraud has seen 9% of Cash App users fall victim to scams, with tactics ranging from phishing to fake giveaways, exploiting the platform's widespread use and lack of FDIC insurance.

Scammers use various methods, including phishing emails that mimic legitimate requests, enticing "get-rich-quick" schemes, and fake security alerts, all designed to steal sensitive information and funds. The growing threat highlights the need for users to be vigilant and cautious when using the app.

A couple of things to look out for:
All pictures provided are by www.tech.co.

*Always double check with the Cashapp application itself before proceeding with any suspicious notification.

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Insight Poll

Business & Markets

Chick-fil-A’s Unexpected Industry Pivot

Chick-fil-A, known for its fried chicken sandwiches, is stepping into the entertainment world by developing original family-friendly content, including a new game show in partnership with Glassman Media and Sugar23, which has received a ten-episode order.

This move aligns Chick-fil-A with other non-entertainment brands like Lyft and Airbnb, which have also ventured into original programming. With budgets for unscripted projects estimated at $400,000 per half-hour, the company plans to launch its content later this year.

Chick-fil-A’s foray into media production, led by industry veteran Brian Gibson, reflects its strategy to diversify beyond fast food, following its previous success with animated shorts and children’s products.

Sources suggest this initiative could breathe new life into the struggling reality TV industry, offering a fresh avenue for branded content.

Poll

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