By Tuesday, two of the Earth’s wealthiest individuals will have flown into space.
🚀 Richard Branson has already been on July 11 aboard a Virgin Galactic spaceship
🚀 Jeff Bezos’s rocket trip with Blue Origin is on Tuesday trib.al/6oESsn5
It’s taken a couple of decades for both men to realize their ambition of going into space: Blue Origin was founded in 2000 and Virgin Galactic four years later trib.al/6oESsn5
Critics will say that they could have devoted their time and money toward more worthy terrestrial endeavors (and paying more tax).
Hopefully seeing Earth’s majestic curvature inspires better care of this planet trib.al/6oESsn5
While there’s symmetry in billionaires blasting off within days of each other, Branson and Bezos have followed quite different technical paths and they’ve done so with markedly different budgets trib.al/6oESsn5
They can’t even agree on what counts as “space.”
⭐️Bezos believes that space begins at the Karman line
⭐️But Virgin Galactic flies to an altitude of around 55 miles, surpassing the 50-mile mark at which U.S. military pilots get their astronaut wings trib.al/6oESsn5
Bezos’s New Shepard rocket takes off and lands vertically.
Virgin Galactic’s spaceflight system comprises a rocket ship that detaches from a carrier aircraft at around 45,000 feet, having taken off like a regular plane trib.al/6oESsn5
Virgin Galactic completed three piloted suborbital space flights prior to Branson’s flight.
Blue Origin has been to space 15 times, but never with people on board trib.al/6oESsn5
Bezos has sold around $1 billion of Amazon stock annually to fund Blue Origin.
By comparison, Branson has said he’s invested almost $1 billion in Virgin Galactic, which burns through around $250 million of cash yearly trib.al/6oESsn5
Though Bezos may have to settle for second in space, he has outplayed Branson by:
➡️Auctioning off a seat for $28 million with the proceeds going towards encouraging kids to go into math & science
➡️Inviting 82-year-old pilot Wally Funk to join him trib.al/6oESsn5
Of course, nothing compares to another billionaire space-nut: Elon Musk.
SpaceX fired a Tesla Roadster into space in 2018 aboard a Falcon Heavy rocket with a Starman mannequin in the vehicle’s driver seat. Musk’s next ambition is to send humans to Mars trib.al/6oESsn5
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$700 billion is about nine times current US customs revenue, and 2.4% of the most recent estimate of US GDP.
Tariff revenue hasn’t surpassed 2% of GDP since the early 1870s, and hasn’t surpassed it on a sustained basis since the 1820s and 1830s
Trump often cites President McKinley’s high tariffs as an inspiration, but during McKinley’s presidency (1897 to 1901) tariffs generated less than half the share of GDP that $700 billion would amount to now
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8