Hey Snackers,
Some people came to America on the Mayflower, but others are journeying to the metaverse aboard the Metaflower. A digital mega-yacht with two helipads and a DJ booth just sold for a record $650K.
Stocks rebounded today, shrugging off Omicron fears, as the World Health Organization suggests some vaccines can still protect against the variant.
Youâve got Email... Elon mail. It's the day after Thanksgiving. SpaceX employees are still digesting pecan pie, when Elon Musk sends a company-wide email that would give anyone indigestion: The lack of progress in developing Raptor rocket engines has created a âgenuine risk of bankruptcyâ for SpaceX. Employees spit out their pie as Elon intensifies:
Starships were meant to flyyy... Nicki Minaj's 2012 banger is also the name of SpaceX's next-generation rocket being developed in Texas. Starship will first be used to take humans to the moon for NASA's Artemis program. Then the fully reusable rocket will launch cargo and people on missions to Mars. But before Starship can fly, SpaceX needs to fix issues plaguing production of its Raptor engines.
Sometimes pressure is the greatest motivator... SpaceX has raised billions, leading it to cross a massive $100B valuation. Investors are eager to continue funding it, plus its CEO is Earthâs richest person. And Elon has conceded that even if a global recession were to hit, a SpaceX bankruptcy is unlikely. But he has also underscored: "Only the paranoid survive." Elon knows that fear sometimes drives results more than complacency. So he's raising alarms to motivate employees to reach SpaceX's ambitious goal of flying Starships at least once every two weeks next year.
Scrambling for Baby Yoda toys⊠The force isnât with you this holiday season. For the first time ever recorded, online shoppers spent less on Black Friday and Cyber Monday than the year before. But it isnât because Americans arenât splurging: Holiday shopping is expected to hit a record $843B this season. And while online sales dropped during Cyber Week (Thanksgiving through Cyber Monday), online sales from all of November rose from last year.
Extra pricey and extra delayed⊠As the global economy recovers from the pandemic, inflation has hit a 31-year high and global-supply clogs have led to major shipping delays. Two shopping trends have emerged:
The holiday âspreadâ is replacing the holiday crunch⊠And weâre not talking Nutella and gingerbread cookies. Two global economic issues â inflation and supply disruptions â are transforming shopping habits. Holiday shopping is lasting longer and being paid for in installments more often. Still, spread out doesnât mean small: Spending is expected to keep rising next year despite supply constraints and rising prices.
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