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Why does Mark Zuckerberg care so much about the SpaceX rocket blowing up? The Hustle Fri, Sept 2 “Houston, we have a problem” Yesterday morning, SpaceX’s Falcon 9 rocket exploded on a Cape Canaveral launch pad. The good news: It...
The good news: It was an unmanned “static fire test” (kind of like a dress rehearsal for a launch), so no one was hurt.
The bad news: When the rocket went up into smoke, so did its payload — a $200m satellite called AMOS-6 that was set to deliver internet to large portions of sub-Saharan Africa as part of Facebook’s Internet.org project.
Zuck & Co. paid $95m to get a share of the satellite’s bandwidth for 5 years, and contracted SpaceX to deliver the AMOS-6 into orbit.
Following the explosion, those plans are temporarily put on hold.
And Zuck is pissedddddddd
The Facebook CEO was in Kenya when he heard the news, having scheduled an Africa trip specifically to coincide with this launch. He took to Facebook (shocking choice, we know) to let off some steam:
“As I’m here in Africa, I’m deeply disappointed to hear that SpaceX’s launch failure destroyed our satellite that would have provided connectivity to so many entrepreneurs and everyone else across the continent,” he wrote.
He then went on to say that Facebook has other technologies like Aquila (that epic internet-beaming drone) that can connect people, as well. And stated that the company still remains committed to its “internet for all” mission.
Whoops, more bad news
Because the explosion occurred during the fueling process (prior to the intentional ignition), there’s a good chance the losses won’t be covered by the launch insurance policy.
And on top of that, all of the companies involved with the satellite are already feeling financial repercussions. Spacecom, the Israeli company that owned the AMOS-6, saw its stock fall nearly 9% yesterday.
Then there’s Eutelsat, the French satellite operator that partnered with Facebook on the lease, who ran the numbers and expects this #epicfail to cost them 45 million euros in revenue over the next 3 years.
Not to mention SpaceX, itself…
Just 24 hours before the rocket went boom, SpaceX signed its first customer for commercial reuse of its flight-proven rockets.
That was a major milestone for the company, as the goal from day one has been to radically slash the cost of launching rockets by using recycled ones.
Following up a “Pop the champagne!” moment with a “Quick, the fire extinguisher!” one is never a good idea.
For most people, turning 35 is kind of depressing. 40 is right around the corner, the hair’s starting to go, and it’s no longer acceptable to pull Call of Duty all-nighters (the cutoff is 34, everyone knows that).
But for Lynsi Snyder, turning 35 will undoubtedly be the best day of her life.
Because when she blows out the candles next May, Snyder will instantly become one of the wealthiest women in the entire United States… a massive upgrade over her current “American with the Most Bizarrely-Spelled First Name” title.
Why she’s about to be swimming in cash
Back in 1948, Lynsi’s grandparents, Harry and Esther Snyder, founded In-N-Out Burger, which has since become one of the most beloved restaurants in the western part of the country.
It’s also valued at $1.1B, which is impressive for a restaurant that has just 304 locations across 6 states and literally 5 items on its menu (not counting the not-so-secret menu).
Lynsi received 50% of In-N-Out’s shares when she turned 30 and is set to inherit full ownership the day she turns 35.
But it hasn’t been all butterflies and rainbows to get to this point and there’s a reason why someone so young is about to own something so big.
The curse of the franchise
Harry Snyder (the founder) died in 1976 so Lynsi’s uncle, Rich Snyder, took over control of the company.
Unfortunately, Rich died in a plane crash 17 years later, forcing Lynsi’s father, Guy, to replace him at the helm — where he remained until 1999 when he sadly died of a prescription-drug overdose.
Then 7 years later, Lynsi’s grandmother passed at the age of 86, making Lynsi the only remaining heir to the In-N-Out throne.
With great power comes great responsibility
Lynsi’s inheriting one heck of a brand. And to her credit, she understands how powerful a strong brand can be. That’s why she’s made it a point to change almost nothing since taking over as president a few years ago.
You also have to respect her saying she will “never” take In-N-Out public or franchise its restaurants because she wants to keep everything the way her family would have wanted it.
In a world where The Cheesecake Factory has a 21-page menu, fast-casual burger joints like Shake Shack and Habit Burger rush to IPO to maximize hype, and everyone wants to expand as quickly as possible, it’s nice to know a company like In-N-Out exists.
Double-Double with onion, Animal Style fries, Neapolitan milkshake.
First announced in October of last year, the $63B merger finally received regulatory approval this week from China’s Ministry of Commerce… the last of many hurdles the 2 behemoths had to cross to push this baby through.
By joining forces, Dell and EMC can create a one-stop shop for information technology sold to businesses (like servers and storage). Plus, the sheer size of the newly-formed company will make them unmatched in terms of scale, strength, and flexibility.
That’s a huge advantage moving forward and something executives hope will allow them to compete with the current leader in the market, Amazon Web Services… which, thanks to the cloud-computing revolution, has been kicking both their butts.
In the past, customers bought systems from the likes of Dell and EMC, then maintain those systems themselves. But thanks to the cloud, all they have to do now is “rent” computing power from Amazon. No more buying hardware. No more maintenance.
This dramatic shift changed the game completely to the point where Dell actually considered selling itself back in 2013 due to its uncertain future.
But instead, they decided to join forces with a fellow old-timer and start fighting against the new kid on the block.
For all you non-math majors — carry the 2, divide by zero… that adds up to over 6 days worth of Cookie Crisp howls, Stretch Armstrong montages, and Ring Pop jingles.
Here’s how they got that number
In 2016, the average kid spends 1.8 hours a day using services like Netflix and Hulu. That’s 2 hours a day! And over the course of a year, it adds up to 650 hours of streaming consumption… all without commercials.
But if you took the streaming option away, those poor children would have to watch boring, old TV like a Pop-Pop… where every hour of programming comes packaged with 14 minutes worth of commercials.
650 x 14 = 9100 minutes = roughly 152 hours of advertisements successfully avoided.