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Tag: Jeff Bezos

  • Jeff Bezos Considering Bid For Washington Commanders, Possibly With Jay-Z

    Jeff Bezos Considering Bid For Washington Commanders, Possibly With Jay-Z

    Topline

    Amazon founder Jeff Bezos is interested in buying the Washington Commanders NFL franchise, according to multiple reports, citing a source close to him, after embattled owner Dan Snyder said Wednesday he is exploring a possible sale.

    Key Facts

    It’s not clear at this point if Snyder, who owns 100% of the franchise, plans to sell the whole team or just a minority stake.

    Bezos has been interested in purchasing an NFL team since at least 2019, according to CBS Sports, and already has investments in the D.C. area through real estate and his ownership of the Washington Post.

    People was the first to report the news Thursday.

    Forbes Valuation

    Bezos would become by far the wealthiest NFL owner if he buys the team—Forbes estimates his net worth to be $113.4 billion, making him the fourth-richest person in the world.

    Key Background

    Snyder announced Wednesday he hired Bank of America to work on a potential sale, after coming under increasing pressure to sell the team following a series of scandals, including numerous reports of sexual misconduct involving himself and team executives, which has prompted a Congressional investigation. Indianapolis Colts owner Jim Irsay said last month that NFL owners have privately discussed taking the unprecedented step of removing Snyder as owner, which would require a vote of support from 24 of the league’s 32 owners.

    Big Number

    $5.6 billion. That’s how much Forbes estimates the Commanders are worth, making them the sixth most-valuable NFL franchise. Snyder purchased the team, then called the Redskins, in 1999 for $750 million.

    Further Reading

    Jeff Bezos Is ‘Looking Into Buying’ Washington Commanders: Source (People)

    Dan Snyder Hires Bank Of America To Sell Washington Commanders (Forbes)

    Nicholas Reimann, Forbes Staff

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  • MacKenzie Scott gifts $5.7M to Urban League of Louisiana

    MacKenzie Scott gifts $5.7M to Urban League of Louisiana

    NEW ORLEANS — Billionaire philanthropist MacKenzie Scott has given the Urban League of Louisiana a $5.7 million gift, the largest donation in the agency’s 84-year history.

    The Urban League of Louisiana, founded in 1938, hosts a variety of programs covering youth education, economic development and policy.

    With the gift from Scott, the agency plans to expand its programs aimed at securing economic self-reliance and civil rights for underserved communities, the organization’s president and CEO, Judy Reese Morse, said in a statement Monday.

    “So often the work of black-led, community-serving organizations goes unnoticed and under-resourced,” she said. “Ms. Scott’s spirit and conviction to address historic disparities by supporting organizations that prioritize and engage the community inspires us to remain unwavering in our commitment to deliver even more for black and other underserved communities in Louisiana.”

    Morse said Scott’s gift would be “transformational.”

    With a net worth estimated at over $30 billion by Forbes, Scott is one of the wealthiest people in the world. Much of that fortune stems from her 2019 divorce from Amazon founder Jeff Bezos, in which she received a 25% stake in the company.

    Along with other billionaires, Scott has signed what is known as The Giving Pledge, a promise from the mega-wealthy to give away most of their fortunes.

    Scott, in a statement, said her giving was guided by her desire to support local organizations rather than tell them how to solve problems.

    “We don’t advocate for particular policies or reforms. Instead, we seek a portfolio of organizations that supports the ability of all people to participate in solutions,” she said. “This means a focus on the needs of those whose voices have been underrepresented.”

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  • Disappointing Festive Forecast Delivers Fall In Shares For Amazon

    Disappointing Festive Forecast Delivers Fall In Shares For Amazon

    It’s time to “batten down the hatches” according to Amazon Chair, Jeff Bezos who has recently taken to his Twitter account to highlight his thoughts on the weakening global economy.

    Whilst Amazon saw a significant business benefit from the pandemic and the rise in online shopping and services, there has been a downward shift as consumers faced with a cost of living crisis have curtailed their spending.

    The company’s overall sales in the three months to September rose by 15% year-on-year to $127.1 billion, with sales in North America growing by 20%. Yet it has seen a different story ‘across the pond’ with a reduction of its international business and a dip in demand for cloud-services.

    August and September were weaker months for Amazon, especially in Europe where consumers are facing restricted spending power as they budget to meet the rising costs of essentials such as food and fuel.

    “We’re very optimistic about the holiday but we’re realistic that there are various factors weighing on people’s wallets”, explained Amazon’s Chief Financial Officer, Brian Olsavsky. This forecast about festive spending certainly spooked the markets with shares dropping close to 20% in after-hours trading on Thursday.

    Amazon has announced a hiring freeze as well as the intention to lease out some of its warehouse space in order to mitigate the impact. The company is nonetheless expecting a vast revenue for the forth quarter (between $140 billion and $148 billion) with growth anticipated somewhere between 2 and 8%.

    Amazon
    AMZN
    chief executive Andy Jassy said in a statement: “There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets.

    “What won’t change is our maniacal focus on the customer experience, and we feel confident that we’re ready to deliver a great experience for customers this holiday shopping season.”

    Kate Hardcastle, Contributor

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  • Twitter is now owned by Elon Musk — here’s a brief history from the app’s founding in 2006 to the present

    Twitter is now owned by Elon Musk — here’s a brief history from the app’s founding in 2006 to the present

    In this photo illustration, former U.S. President Donald Trump’s archived Twitter account is shown on a phone screen with the Twitter logo in the background.

    Sheldon Cooper | Lightrocket | Getty Images

    A decade ago, Twitter’s future was looking bright. The company was benefiting from a flood of funding into the social-networking space, eventually leading to an IPO in 2013 that raised $1.8 billion.

    Now the company is back in private hands. And they happen to be the hands of Elon Musk, the richest person in the world and one of the app’s most high-profile provocateurs.

    It’s a massive moment. Twitter has become a key place for people to debate, joke and pontificate in their own circles of politics, sports, tech and finance. It’s also served as a platform that gives voice to the voiceless, helping protesters organize and express themselves in repressed regimes around the world.

    In recent years, however, Twitter and social media rivals like Facebook have been at the center of controversy over the distribution of fake news and misinformation, sometimes leading to bullying and violence.

    Investors had grown concerned about Twitter as a business. The company was generally unprofitable, struggled to keep pace with Google and Facebook, and often killed popular products with no real explanation.

    What follows is a brief history of Twitter, which — despite its many flaws — is one of the most iconic companies to come out of Silicon Valley in the past 20 years.

    2006

    In March, Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams created Twitter, which was originally a side project stemming from the podcasting tool Odeo. That month, Dorsey would send the first Tweet that read, “just setting up my twttr.”

    2007

    In July, Twitter received a $100,000 Series A funding round led by Union Square Ventures. The app’s popularity started to explode after being heavily promoted by the tech community during the annual South by Southwest conference.

    2008

    Dorsey stepped down as CEO in October, and was replaced by Williams. According to the book “Hatching Twitter” by journalist Nick Bilton, Twitter’s board fired Dorsey over concerns about the executive’s management style and public boastings.

    2009

    Twitter’s popularity continued to soar, leading to a high-profile appearance from Williams on Oprah Winfrey’s talk show alongside celebrity Ashton Kutcher. Kutcher would also write about Williams and Stone as part of Time Magazine’s Time 100 issue. Twitter was now a mainstream phenomenon.

    2010

    Twitter reached space, with NASA Astronaut Timothy Creamer sending the first tweet live from outer orbit. Behind the scenes, however, management woes continued with Williams stepping down as CEO, replaced by operating chief Dick Costolo.

    2011

    Twitter became an essential social media tool used during the Arab Spring, the wave of antigovernmental protests throughout Egypt, Libya and Tunisia. Protesters used the site to post reports and to organize. As the Pew Research Center noted, Twitter’s role in “disseminating breaking news” was not “not limited to the Arab uprisings – the death of Whitney Houston, for example, was announced on Twitter 55 minutes prior to the AP confirming the story.”

    2012

    Twitter’s reach expanded to 200 million active users. Barack Obama used the “platform to first declare victory publicly in the 2012 U.S. presidential election, with a Tweet that was viewed approximately 25 million times on our platform and widely distributed offline in print and broadcast media,” according to corporate filings.

    2013

    Twitter went public in November. The combined wealth of Williams, Dorsey, and Costolo hit roughly $4 billion.

    “I think we’ve got a tremendous set of thoughts and strategies to increase the slope of the growth curve,” Costolo told CNBC at the time. “I would consider some of them tactics, some of them broader strategies, in service of doing what I referred to as bridge the gap between the massive awareness of Twitter and deep engagement of the platform.”

    2014

    Slowing user growth led to several stock drops and analyst downgrades. Twitter also deemed 2014 the year of the “selfie.”

    2015

    Compared to rivals like Google, Facebook, and even LinkedIn, Twitter was starting to look like the runt of the Internet litter. Twitter was still unprofitable as its ad business struggled mightily against its larger competitors. Dorsey would also return as CEO of the company, while still maintaining the top job at his other company, Square (now Block).

    2016

    Rumors began circulating that Twitter was looking to be acquired, with Salesforce as a potential suitor. Meanwhile, Twitter and Facebook were criticized for their role in letting prominent users like Donald Trump, who would win the U.S. presidential election that year, spread misleading information without consequence.

    “Having the president-elect on our service using it as a direct line of communication allows everyone to see what is on his mind in the moment,” Dorsey said at the time. “We’re definitely entering a new world where everything is on the surface and we can all see that in real time and we can have conversations about it.”

    2017

    For a moment, Twitter appeared to be on the upswing. Its stock was finally trending upward as the company’s finances were improving. Meanwhile, Trump as president continued to use Twitter as his megaphone. According to Twitter’s own data, “Trump was the most-tweeted-about global leader in the world and in the United States” that year, CNBC reported.

    2018

    Dorsey and Facebook’s then-operating chief Sheryl Sandberg testified before the Senate Intelligence Committee about alleged interference by Russia-linked actors in the 2016 election. Trump and fellow Republicans became increasingly vocal about alleged political bias by Twitter and other social media sites.

    “In fact, from a simple business perspective and to serve the public conversation, Twitter is incentivized to keep all voices on the platform,” Dorsey said at the time.

    2019

    Analysts found correlations between President Trump’s voracious use of Twitter and various markets, including gold, underscoring the cultural power of Twitter. Trump met with Dorsey — a Twitter spokesperson said “Jack had a constructive meeting with the President of the United States today at the president’s invitation.”

    “They discussed Twitter’s commitment to protecting the health of the public conversation ahead of the 2020 U.S. elections and efforts underway to respond to the opioid crisis,” the spokesperson said.

    2020

    As Covid-19 spread across the globe, the spread of misinformation dominated the online conversation. And Twitter continued to struggle to grow its business. The service was also hacked that year, and miscreants gained access to over a dozen high-profile accounts, including those controlled by Joe Biden, Jeff Bezos, and Musk

    2021

    Twitter permanently banned Trump over inflammatory comments the president made during the U.S. Capitol riots in January that the company said could lead to “further incitement of violence.” Trump would allege that Twitter workers “coordinated with the Democrats and the Radical Left in removing my account from their platform, to silence me.” Later, Dorsey suddenly stepped down as CEO and was replaced by Parag Agrawal, the company’s chief technology officer.

    2022

    Musk took over Twitter after a protracted legal spat that would have culminated this week in a trial in Delaware’s Court of Chancery. The Tesla CEO agreed in April to pay $44 billion for Twitter, but then attempted to renege on the deal. He changed course and opted to proceed, walking into the company’s San Francisco office on Wednesday with what appeared to be a porcelain bathroom sink in his hands.

    “Entering Twitter HQ – let that sink in!” he tweeted, with a video of his entrance.

    Musk immediately began making changes, firing Agrawal, finance head Ned Segal, and head of legal policy Vijaya Gadde.

    WATCH: Billionaire Elon Musk steps into Twitter HQ, sink in hand

    Billionaire Elon Musk steps into Twitter HQ, sink in hand

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  • New Non-Profit Organization Gives Grants to Amazon Employees in Need

    New Non-Profit Organization Gives Grants to Amazon Employees in Need

    Press Release


    Oct 25, 2022

    Amazon Offsets, a new non-profit organization, gives consumers the opportunity to help Amazon employees in need. Using a model based loosely on the concept of carbon offsets, Amazon shoppers can donate to Amazon Offsets, which, in turn, gives grants to Amazon employees in need. The idea for Amazon Offsets came to Founder Kirsten Burkhart when she found herself working from home while taking care of her bedridden husband. 

    As Burkhart explains, “Like most people, I knew that I should shop at small, locally-owned businesses, but the reality was that I couldn’t. I began to order everything from cat food to shampoo from Amazon, but the more I heard about the company’s troublesome history of employee relations, the more conflicted I began to feel.” 

    Amazon Offsets, recognized by the IRS as a 501(c)(3) organization, enables those shoppers to make voluntary, tax-deductible donations through the organization’s website, which will then be used to make grants to Amazon employees facing financial difficulties.

    Amazon Offsets, a private non-profit organization, is not affiliated with Amazon.com.

    For more information, visit www.OffsetHarm.org.

    Source: Amazon Offsets

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  • A lot of cookie dough: MacKenzie Scott gives Girl Scouts $85 million

    A lot of cookie dough: MacKenzie Scott gives Girl Scouts $85 million

    Philanthropist MacKenzie Scott donated $84.5 million to Girl Scouts of the USA and 29 of its local branches, the 110-year-old organization said Tuesday, calling it a vote of confidence. The donation comes as the scouting group is coping with a loss of membership during the pandemic.

    “Her support of our organization means honestly just as much as the donation,” Sofia Chang, CEO of GSUSA, said in an interview.

    Scott’s gift marks the largest donation the Girl Scouts have received from an individual since their founding in 1912, she said. The funds will help the organization recover from the impact of the pandemic, the group said in a Tuesday statement. During the crisis, its membership dropped by almost 30%, from about 1.4 million in 2019- 2020 to just over 1 million in 2021-2022. 

    The donation will also be used to support volunteers and staff, make camp properties more resistant to the impacts of climate change, improve science and technology education for youth members and develop diversity and inclusion programming to make their troops more accessible, the group said.

    Chang acknowledged the membership drop but made the case that the organization’s programs consistently help girls build confidence and tackle problems in their community.

    “Our traditional way of supporting girls was really upended during the pandemic as troops couldn’t really meet in person,” Chang said. “So to build back stronger than we ever had before, we’re really listening to our Girl Scouts, listening to their families and to our volunteers to really ensure that what comes next for us is truly impactful in this moment.”

    More than cookies

    The Girl Scout council in Southern Arizona decided to use the $1.4 million it received from Scott to elevate the work they are already doing rather than to start a new program or initiative, said its CEO Kristen Garcia-Hernandez.

    “We are a small council and we’re certainly not in a major metropolitan hub. So for us, gifts of this magnitude don’t come around very often,” Garcia-Hernandez said.

    The gift accelerates their plan to hire more staff to reach most places in the seven counties they serve in under an hour and provide programming year-round. The council will also outfit a van as a mobile science and technology classroom, a project they have tried to fund for a year and a half. Many local funders seem to think that the Girl Scout’s cookie sales cover their expenses, she said.

    “While the cookie program sustains us certainly and it’s wonderful and the girls are part of that process, which makes it even more beautiful, we certainly need more from the community,” Garcia-Hernandez said.

    Giving to groups serving women and girls

    Philanthropic giving to organizations that specifically serve women and girls represents less than 2% of all donations, according to a research project of the Women’s Philanthropy Institute at Indiana University’s Lilly Family School of Philanthropy. The institute found that proportion has not changed significantly between 2012 and 2019, the years the study has tracked.

    Tessa Skidmore, research associate at the institute, said major gifts from women like philanthropists Melinda French Gates, Sheryl Sandberg and Scott could inspire other donors.

    “Those are the types of things that have the potential to change that number,” she said.

    The institute partnered with Pivotal Ventures, the investment firm founded by French Gates, and others to promote giving to women and girls on the International Day of the Girl, marked on Oct. 11 each year. It also shares its giving data in the hopes that donors or researchers will use it as one way to evaluate gender equity in donations.

    Scott communicates infrequently about her giving, which has totaled around $12 billion since 2019. She has donated large, unrestricted grants to many different kinds of organizations, though her gifts have had a special focus on racial equity. 

    “Helping any of us can help us all,” Scott said in a blog post about her giving earlier this year.

    Scott also made a blockbuster $275 million gift to the Planned Parenthood Federation of America and its affiliates this year.

    In September, Scott filed for divorce from her second husband, Dan Jewett, whose profile was also removed from website of The Giving Pledge, a group that asks billionaires to give more than half their wealth away in their lifetimes. The former couple had jointly written on the site last year about their intention to give away Scott’s fortune, which largely comes from her divorce from Amazon founder Jeff Bezos.

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  • World’s 1st space tourist signs up for flight around moon

    World’s 1st space tourist signs up for flight around moon

    CAPE CANAVERAL, Fla. — The world’s first space tourist wants to go back — only this time, he’s signed up for a spin around the moon aboard Elon Musk’s Starship.

    For Dennis Tito, 82, it’s a chance to relive the joy of his trip to the International Space Station, now that he’s retired with time on his hands. He isn’t interested in hopping on a 10-minute flight to the edge of space or repeating what he did 21 years ago. “Been there, done that.”

    His weeklong moonshot — its date to be determined and years in the future — will bring him within 125 miles (200 kilometers) of the lunar far side. He’ll have company: his wife, Akiko, and 10 others willing to shell out big bucks for the ride.

    Tito won’t say how much he’s paying; his Russian station flight cost $20 million.

    The couple recognize there’s a lot of testing and development still ahead for Starship, a shiny, bullet-shaped behemoth that’s yet to even attempt to reach space.

    “We have to keep healthy for as many years as it’s going to take for SpaceX to complete this vehicle,” Tito said in an interview this week with The Associated Press. “I might be sitting in a rocking chair, not doing any good exercise, if it wasn’t for this mission.”

    Tito is actually the second billionaire to make a Starship reservation for a flight around the moon. Japanese fashion tycoon Yusaku Maezawa announced in 2018 he was buying an entire flight so he could take eight or so others with him, preferably artists. The two men both flew to the space station, from Kazakhstan atop Russian rockets, 20 years apart.

    Tito kicked off space tourism in 2001, becoming the first person to pay his own way to space and antagonizing NASA in the process. The U.S. space agency didn’t want a sightseer hanging around while the station was being built. But the Russian Space Agency needed the cash and, with the help of U.S.-based Space Adventures, launched a string of wealthy clients to the station through the 2000s and, just a year ago, Maezawa.

    Well-heeled customers are sampling briefer tastes of space with Jeff Bezos’ Blue Origin rocket company. Richard Branson’s Virgin Galactic expects to take paying passengers next year.

    Starship has yet to launch atop a Super Heavy booster from the southern tip of Texas, near the Mexican border. At 394 feet (120 meters) and 17 million pounds (7.7 million kilograms) of liftoff thrust, it’s the biggest and most powerful rocket ever built. NASA already has contracted for a Starship to land its astronauts on the moon in 2025 or so, in the first lunar touchdown since Apollo.

    Tito said the couple’s contract with SpaceX, signed in August 2021, includes an option for a flight within five years from now. Tito would be 87 by then and he wanted an out in case his health falters.

    “But if I stayed in good health, I’d wait 10 years,” he said.

    Tito’s wife, 57, said she needed no persuading. The Los Angeles residents are both pilots and understand the risks. They share Musk’s vision of a spacefaring future and believe a married couple flying together to the moon will inspire others to do the same.

    Tito, who sold his investment company Wilshire Associates almost two years ago, said he doesn’t feel guilty splurging on spaceflight versus spending the money here on Earth.

    “We’re retired and now it’s time to reap the rewards of all the hard work,” he said.

    Tito expects he’ll also shatter preconceived notions about age, much as John Glenn’s space shuttle flight did in 1998. The first American to orbit the Earth still holds the record as the oldest person in orbit.

    “He was only 77. He was just a young man,” Tito said. “I might end up being 10 years older than him,”

    ———

    The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.

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  • So-Called ‘Self-Made’ Billionaires Who Actually Grew Up Wealthy

    So-Called ‘Self-Made’ Billionaires Who Actually Grew Up Wealthy

    While the 1% may think they made their own fortunes, it’s more than likely that they had wealthy parents. Here are the so-called “self-made” billionaires who actually grew up privileged.

    Read more…

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  • William Shatner’s Blue Origin trip filled him with ‘dread’ for Earth amid the ‘vicious coldness of space’: New book 

    William Shatner’s Blue Origin trip filled him with ‘dread’ for Earth amid the ‘vicious coldness of space’: New book 

    Billionaire Jeff Bezos’s Blue Origin charges top dollar for trips to space, but some customers may feel “overwhelming sadness” on the journey. That’s how William Shatner describes feeling on his trip out of Earth’s atmosphere last year, which he took thanks to an invitation from the Amazon founder.

    The Star Trek alum describes the experience in his new book Boldly Go: Reflections on a Life of Awe and Wonder, an excerpt of which Variety published this week.

    Shatner, sounding like Captain James T. Kirk, writes: “I love the mystery of the universe…Stars exploding years ago, their light traveling to us years later; black holes absorbing energy; satellites showing us entire galaxies in areas thought to be devoid of matter entirely…all of that has thrilled me for years.” 

    But he was caught off guard, it seems, by his own reaction to the “vicious coldness of space” surrounding the planet’s “nurturing, sustaining, life.”

    “When I looked in the opposite direction, into space, there was no mystery, no majestic awe to behold…all I saw was death,” he writes. “I saw a cold, dark, black emptiness. It was unlike any blackness you can see or feel on Earth. It was deep, enveloping, all-encompassing.”

    He also felt sadness, he writes, because of the damage being done to the planet:

    “Every day, we are confronted with the knowledge of further destruction of Earth at our hands: the extinction of animal species, of flora and fauna…things that took five billion years to evolve, and suddenly we will never see them again because of the interference of mankind. It filled me with dread. My trip to space was supposed to be a celebration; instead, it felt like a funeral.”

    Privately owned Blue Origin, founded in 2000 and funded by Bezos, has launched dozens of paying customers to the edge of space. Its New Shepard rocket-capsule system sends passengers 62 miles above the planet, where they experience microgravity before the capsule returns to land under parachutes. 

    How much customers pay varies widely, with some celebrities—including Shatner and former NFL star Michael Strahan—given free flights while others spend well over $20 million.

    Bezos himself was among the first passengers in 2021, when he joined others in the debut crewed launch.

    The journey is not without risk. Last month, a New Shepard booster engine flared during ascent, causing a rocket to crash in the Texas desert. The capsule, which in that case had no crew aboard, successfully jetted away from rocket and parachuted safely back to land. 

    Shatner, age 90 at the time of his trip, was keenly aware of the risks. He writes: 

    “The ground crew kept reassuring us along the way. ‘Everything’s going to be fine. Don’t worry about anything. It’s all okay.’ Sure, easy for them to say, I thought. They get to stay here on the ground…When the day finally arrived, I couldn’t get the Hindenburg out of my head. Not enough to cancel, of course—I hold myself to be a professional, and I was booked. The show had to go on.”

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    Steve Mollman

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  • SpaceX Falcon 9 puts on spectacular sunset sky show boosting 2 Intelsat satellites to orbit

    SpaceX Falcon 9 puts on spectacular sunset sky show boosting 2 Intelsat satellites to orbit

    Running two days late after back-to-back scrubs, SpaceX launched a pair of Intelsat communications satellites from Cape Canaveral Saturday evening in the company’s third Falcon 9 launch in as many days. It followed two flights Wednesday, one from each coast, that were just seven hours apart.

    Using a first stage making its 14th flight — the most yet for a non-SpaceX commercial customer — the latest Falcon 9 blasted off from the Cape Canaveral Space Force Station at 7:05 p.m. EDT and climbed away on a due-east trajectory over the Atlantic Ocean.

    After dropping off the well-used first stage for recovery on a SpaceX landing barge, the rocket’s upper stage propelled the two-satellite payload out of the discernible atmosphere, and released them into elliptical “transfer” orbits, as planned, about 40 minutes after launch.

    100822-droneship.jpg
    A remarkable view of the Falcon 9 heading toward space as seen by a camera on board a SpaceX droneship stationed several hundred miles downrange in the Atlantic Ocean. All rocket exhaust plumes expand in the low-pressure environment of the extreme upper atmosphere, but the effect is especially striking at sunrise or sunset. The rocket’s first stage, making its record-tying 14th flight, landed successfully  about nine minutes after liftoff.

    SpaceX


    Spectacular video from the SpaceX droneship — awaiting the first stage several hundred miles down range in the Atlantic Ocean — showed the rocket’s second stage exhaust plume dramatically expanding in the low-pressure upper atmosphere, an eye-catching effect best seen when backlit at dawn or sunset.

    Area residents, tourists and photographers, amateur and professional alike, tweeted equally spectacular views of the rocket, silhouetted in front of the rising full moon as it raced toward orbit.

    “Captured Falcon 9 with Intelsat Galaxy 33 & 34 transiting the full Hunter’s Moon tonight from the waters of Florida’s Indian River,” tweeted photographer Trevor Mahlmann.”

    In any case, with a successful launch behind them, Intelsat’s Galaxy 33 and 34 satellites will use on-board propulsion to raise the low and high points of their orbits until both reach circular “geosynchronous” altitudes, 22,300 miles above the equator, in direct line of sight to North America.

    The satellites are the latest in an FCC-mandated drive to free up space in the radio spectrum for 5G mobile networks, requiring new satellites to replace lost capacity. Galaxy 33 and 34 will be used by a variety of major media outlets, including HBO, the Disney channel, Starz and the Discovery channel.

    100822-launch1.jpg
    A view of launch from the nearby Kennedy Space Center as the Falcon 9 climbed away from pad 40 at the Cape Canaveral Space Force Station.

    William Harwood/CBS News


    “They’re part of a seven-satellite buy that we did in 2020 to replace some of our Galaxy satellites,” Jean-Luc Froeliger, senior vice president of space systems at Intelsat, told Spaceflight Now.

    “Galaxy” is a brand name for Intelsat relay stations serving North America. The new satellites are being launched in pairs, with four more flights planned before the end of the year. That includes two from Cape Canaveral, Florida, using another Falcon 9, and two from French Guiana, using a European Ariane rocket.

    The seventh Galaxy is heavier than the others and will be launched by itself in the first half of 2023.

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  • Effective Altruism’s Philosopher King Just Wants to Be Practical

    Effective Altruism’s Philosopher King Just Wants to Be Practical

    Academic philosophers these days do not tend to be the subjects of overwhelming attention in the national media. The Oxford professor William MacAskill is a notable exception. In the month and a half since the publication of his provocative new book, What We Owe the Future, he has been profiled or excerpted or reviewed or interviewed in just about every major American publication.

    MacAskill is a leader of the effective-altruism, or EA, movement, whose adherents use evidence and reason to figure out how to do as much good in the world as possible. His book takes that fairly intuitive-sounding project in a somewhat less intuitive direction, arguing for an idea called “longtermism,” the view that members of future generations—we’re talking unimaginably distant descendants, not just your grandchildren or great-grandchildren—deserve the same moral consideration as people living in the present. The idea is predicated on brute arithmetic: Assuming humanity does not drive itself to premature extinction, future people will vastly outnumber present people, and so, the thinking goes, we ought to be spending a lot more time and energy looking out for their interests than we currently do. In practice, longtermists argue, this means prioritizing a set of existential threats that the average person doesn’t spend all that much time fretting about. At the top of the list: runaway artificial intelligence, bioengineered pandemics, nuclear holocaust.

    Whatever you think of longtermism or EA, they are fast gaining currency—both literally and figuratively. A movement once confined to university-seminar tables and niche online forums now has tens of billions of dollars behind it. This year, it fielded its first major political candidate in the U.S. Earlier this month, I spoke with MacAskill about the logic of longtermism and EA, and the future of the movement more broadly.

    Our conversation has been edited for length and clarity.


    Jacob Stern: Effective altruists have been focused on pandemics since long before COVID. Are there ways that EA efforts helped with the COVID pandemic? If not, why not?

    William MacAskill: EAs, like many people in public health, were particularly early in terms of warning about the pandemic. There were some things that were helpful early, even if they didn’t change the outcome completely. 1Day Sooner is an EA-funded organization that got set up to advocate for human-challenge trials. And if governments had been more flexible and responsive, that could have led to vaccines being rolled out months earlier, I think. It would have meant you could get evidence of efficacy and safety much faster.

    There is an organization called microCOVID that quantifies what your risk is of getting COVID from various sorts of activities you might do. You hang out with someone at a bar: What’s your chance of getting COVID? It would actually provide estimates of that, which was great and I think widely used. Our World in Data—which is kind of EA-adjacent—provided a leading source of data over the course of the pandemic. One thing I think I should say, though, is it makes me wish that we’d done way more on pandemics earlier. You know, these are all pretty minor in the grand scheme of things. I think EA did very well at identifying this as a threat, as a major issue we should care about, but I don’t think I can necessarily point to enormous advances.

    Stern: What are the lessons EA has taken from the pandemic?

    MacAskill: One lesson is that even extremely ambitious public-health plans won’t necessarily suffice, at least for future pandemics, especially if one was a deliberate pandemic, from an engineered virus. Omicron infected roughly a quarter of Americans within 100 days. And there’s just not really a feasible path whereby you design, develop, and produce a vaccine and vaccinate everybody within 100 days. So what should we do for future pandemics?

    Early detection becomes absolutely crucial. What you can do is monitor wastewater at many, many sites around the world, and you screen the wastewater for all potential pathogens. We’re particularly worried about engineered pathogens: If we get a COVID-19-scale pandemic once every hundred years or so from natural origins, that chance increases dramatically given advances in bioengineering. You can take viruses and upgrade them in terms of their destructive properties so they can become more infectious or more lethal. It’s known as gain-of-function research. If this is happening all around the world, then you just should expect lab leaks quite regularly. There’s also the even more worrying phenomenon of bioweapons. It’s really a scary thing.

    In terms of labs, possibly we want to slow down or not even allow certain sorts of gain-of-function research. Minimally, what we could do is ask labs to have regulations such that there’s third-party liability insurance. So if I buy a car, I have to buy such insurance. If I hit someone, that means I’m insured for their health, because that’s an externality of driving a car. In labs, if you leak, you should have to pay for the costs. There’s no way you actually can insure against billions dead, but you could have some very high cap at least, and it would disincentivize unnecessary and dangerous research, while not disincentivizing necessary research, because then if it’s so important, you should be willing to pay the cost.

    Another thing I’m excited about is low-wavelength UV lighting. It’s a form of lighting that basically can sterilize a room safe for humans. It needs more research to confirm safety and efficacy and certainly to get the cost down; we want it at like a dollar a bulb. So then you could install it as part of building codes. Potentially no one ever gets a cold again. You eradicate most respiratory infections as well as the next pandemic.

    Stern: Shifting out of pandemic gear, I was wondering whether there are major lobbying efforts under way to persuade billionaires to convert to EA, given that the potential payoff of persuading someone like Jeff Bezos to donate some significant part of his fortune is just massive.

    MacAskill: I do a bunch of this. I’ve spoken at the Giving Pledge annual retreat, and I do a bunch of other speaking. It’s been pretty successful overall, insofar as there are other people kind of coming in—not on the size of Sam Bankman-Fried or Dustin Moskovitz and Cari Tuna, but there’s definitely further interest, and it is something I’ll kind of keep trying to do. Another organization is Longview Philanthropy, which has done a lot of advising for new philanthropists to get them more involved and interested in EA ideas.

    I have not ever successfully spoken with Jeff Bezos, but I would certainly take the opportunity. It has seemed to me like his giving so far is relatively small scale. It’s not clear to me how EA-motivated it is. But it would certainly be worth having a conversation with him.

    Stern: Another thing I was wondering about is the issue of abortion. On the surface at least, longtermism seems like it would commit you to—or at least point you in the direction of—an anti-abortion stance. But I know that you don’t see things that way. So I would love to hear how you think through that.

    MacAskill: Yes, I’m pro-choice. I don’t think government should interfere in women’s reproductive rights. The key distinction is when pro-life advocates say they are concerned about the unborn, they are saying that, at conception or shortly afterwards, the fetus becomes a person. And so what you’re doing when you have an abortion is morally equivalent or very similar to killing a newborn infant. From my perspective, what you’re doing when having an early-term abortion is much closer to choosing not to conceive. And I certainly don’t think that the government should be going around forcing people to conceive, and then certainly they shouldn’t be forcing people to not have an abortion. There is a second thought of Well, don’t you say it’s good to have more people, at least if they have sufficiently good lives? And there I say yes, but the right way of achieving morally valuable goals is not, again, by restricting people’s rights.

    Stern: I think there are at least three separate questions here. The first being this one that you just addressed: Is it right for a government to restrict abortion? The second being, on an individual level, if you’re a person thinking of having an abortion, is that choice ethical? And the third being, are you operating from the premise that unborn fetuses are a constituency in the same way that future people are a constituency?

    MacAskill: Yes and no on the last thing. In What We Owe the Future, I do argue for this view that I still find kind of intuitive: It can be good to have a new person in existence if their life is sufficiently good. Instrumentally, I think it’s important for the world to not have this dip in population that standard projections suggest. But then there’s nothing special about the unborn fetus.

    On the individual level, having kids and bringing them up well can be a good way to live, a good way of making the world better. I think there are many ways of making the world better. You can also donate. You can also change your career. Obviously, I don’t want to belittle having an abortion, because it’s often a heart-wrenching decision, but from a moral perspective I think it’s much closer to failing to conceive that month, rather than the pro-life view, which is it’s more like killing a child that’s born.

    Stern: What you’re saying on some level makes total sense but is also something that I think your average pro-choice American would totally reject.

    MacAskill: It’s tough, because I think it’s mainly a matter of rhetoric and association. Because the average pro-choice American is also probably concerned about climate change. That involves concern for how our actions will impact generations of as-yet-unborn people. And so the key difference is the pro-life person wants to extend the franchise just a little bit to the 10 million unborn fetuses that are around at the moment. I want to extend the franchise to all future people! It’s a very different move.

    Stern: How do you think about trying to balance the moral rigor or correctness of your philosophy with the goal of actually getting the most people to subscribe and produce the most good in the world? Once you start down the logical path of effective altruism, it’s hard to figure out where to stop, how to justify not going full Peter Singer and giving almost all your money away. So how do you get people to a place where they feel comfortable going halfway or a quarter of the way?

    MacAskill: I think it’s tough because I don’t think there’s a privileged stopping point, philosophically. At least not until you’re at the point where you’re really doing almost everything you can. So with Giving What We Can, for example, we chose 10 percent as a target for what portion of people’s income they could give away. In a sense it’s a totally arbitrary number. Why not 9 percent or 11 percent? It does have the benefit of 10 percent being a round number. And it also is the right level, I think, where if you get people to give 1 percent, they’re probably giving that amount anyway. Whereas 10 percent, I think, is achievable yet at the same time really is a difference compared to what they otherwise would have been doing.

    That, I think, is just going to be true more generally. We try to have a culture that is accepting and supportive of these kinds of intermediate levels of sacrifice or commitment. It is something that people within EA struggle with, including myself. It’s kind of funny: People will often beat themselves up for not doing enough good, even though other people never beat other people up for not doing enough good. EA is really accepting that this stuff is hard, and we’re all human and we’re not superhuman moral saints.

    Stern: Which I guess is what worries or scares people about it. The idea that once I start thinking this way, how do I not end up beating myself up for not doing more? So I think where a lot of people end up, in light of that, is deciding that what’s easiest is just not thinking about any of it so they don’t feel bad.

    MacAskill: Yeah. And that’s a real shame. I don’t know. It bugs me a bit. It’s just a general issue of people when confronted with a moral idea. It’s like, Hey, you should become vegetarian. People are like, Oh, I should care about animals? What about if you had to kill an animal in order to live? Would you do that? What about eating sugar that is bleached with bone? You’re a hypocrite! Somehow people feel like unless you’re doing the most extreme version of your views, then it’s not justified. Look, it’s better to be a vegetarian than to not be a vegetarian. Let’s accept that things are on a spectrum.

    On the podcast I was just on, I was just like, ‘Look, these are all philosophical issues. This is irrelevant to the practical questions.’ It’s funny that I am finding myself saying that more and more.

    Stern: On what grounds, EA-wise, did you justify spending an hour on the phone with me?

    MacAskill: I think the media is important! Getting the ideas out there is important. If more people hear about the ideas, some people are inspired, and they get off their seat and start doing stuff, that’s a huge impact. If I spend one hour talking to you, you write an article, and that leads to one person switching their career, well, that’s one hour turned into 80,000 hours—seems like a pretty good trade.

    Jacob Stern

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  • FTC says Bezos, Jassy must testify in probe of Amazon Prime

    FTC says Bezos, Jassy must testify in probe of Amazon Prime

    WASHINGTON (AP) — Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government’s investigation of Amazon Prime, rejecting the company’s complaint that the executives are being unfairly harassed in the probe of the popular streaming and shopping service.

    The Federal Trade Commission issued an order late Wednesday denying Amazon’s request to cancel civil subpoenas sent in June to Bezos, the Seattle-based company’s former CEO, and Jassy. The order also sets a deadline of Jan. 20 for the completion of all testimony by Bezos, Jassy and 15 other senior executives, who also were subpoenaed.

    Jassy took over the helm of the online retail and tech giant from Bezos, one of the world’s richest individuals, in July 2021. Bezos became executive chairman.

    Amazon hasn’t made the case that the subpoenas “present undue burdens in terms of scope or timing,” FTC Commissioner Christine Wilson said in the order on behalf of the agency. However, the FTC did agreed to modify some provisions of the subpoenas that it acknowledged appeared too broad.

    The FTC has been investigating since March 2021 the sign-up and cancellation practices of Amazon Prime, which has an estimated 200 million members around the globe.

    The company said it was disappointed but not surprised that the FTC mostly ruled in favor of its own position, but it was pleased that the agency “walked backed its broadest requests” in the subpoenas.

    “Amazon has cooperated with the FTC throughout the investigation and already produced tens of thousands of pages of documents,” the company said in a statement. “We are committed to engaging constructively with FTC staff, but we remain concerned that the latest requests are overly broad and needlessly burdensome, and we will explore all our options.”

    In a petition to the FTC filed last month, the company objected to the subpoenas to Bezos and Jassy, saying the agency “has identified no legitimate reason for needing their testimony when it can obtain the same information, and more, from other witnesses and documents.” Amazon said the FTC was hounding Bezos, Jassy and the other executives, calling the information demanded in the subpoenas “overly broad and burdensome.”

    The investigation has widened to include at least four other Amazon-owned subscription programs: Audible, Amazon Music, Kindle Unlimited and Subscribe & Save, as well as an unidentified third-party program not offered by Amazon. The regulators have asked the company to identify the number of consumers who were enrolled in the programs without giving their consent, among other customer information.

    With an estimated 150 million U.S. subscribers, Amazon Prime is a key source of revenue, as well as a wealth of customer data, for the company, which runs an e-commerce empire and ventures in cloud computing, personal “smart” tech and beyond. Amazon Prime costs $139 a year. The service added a coveted feature this year by obtaining exclusive video rights to the NFL’s “Thursday Night Football.”

    Last year, Amazon asked unsuccessfully that FTC Chair Lina Khan step aside from separate antitrust investigations into its business, contending that her public criticism of the company’s market power before she joined the government makes it impossible for her to be impartial. Khan was a fierce critic of tech giants Facebook (now Meta), Google and Apple, as well as Amazon. She arrived on the antitrust scene in 2017, writing an influential study titled “Amazon’s Antitrust Paradox” when she was a Yale law student.

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  • How Lyft’s new CEO is ‘copying’ his former boss Jeff Bezos to turn around the company | CNN Business

    How Lyft’s new CEO is ‘copying’ his former boss Jeff Bezos to turn around the company | CNN Business



    CNN
     — 

    David Risher had a rocky first week at his job.

    Days after taking over as the new CEO of Lyft

    (LYFT)
    last month, Risher announced plans to “significantly reduce” the company’s workforce and stressed that the decision was his. The next week, Lyft

    (LYFT)
    revealed the extent of the layoffs: 26% of the staff, or more than 1,000 employees, would lose their jobs.

    “It was a very, very tough decision and a tough, you know, set of days and weeks to go through, of course,” Risher told CNN in an interview Thursday. “Nobody likes it.”

    “But,” he added, “It’s also really important for us to be a strong player.”

    Lyft hasn’t seemed like such a strong player of late. The company has shed 90% of its market value since going public in 2019. It has lagged behind its chief rival, Uber

    (UBER)
    , in recovering from the pandemic shock to business. And Lyft has gone through multiple rounds of layoffs and management changes, including Risher taking over as CEO last month and the company’s two co-founders stepping back.

    Now, Lyft’s new chief executive says he hopes to draw on the lessons from Amazon

    (AMZN)
    , where he worked very early on, and from his former boss Jeff Bezos in his efforts to turn the rideshare company around.

    “We’re going to focus on customers,” Risher said, alluding to Amazon’s guiding principle. “That’s a fundamental, just truth of business – if you can create a business that, really, your customers love, you can do amazing things for the world.”

    Many tech companies like to compare themselves to Amazon, but if anyone has the credibility to say it, Lyft is probably hoping it’s Risher. Risher was Amazon’s 37th employee, and his contributions are memorialized on the site with a thank-you note from Bezos, which can still be seen today more than two decades after Risher left the company.

    In its first product update since Risher took the helm at Lyft, the rideshare company on Thursday unveiled new features aimed at taking some of the pain points out of the summer travel season. With the update, customers can preorder their Lyft rides from the airport the moment their plane touches the ground; Lyft then handles the rest of the logistics to ensure a driver is waiting for the customer as they exit the airport.

    The airport preorder option rolled out at Los Angeles International Airport and Chicago’s O’Hare and Midway airports on Thursday, with plans to expand to other airports in the near future.

    “You can outsource a lot of that stress to us, that’s what we want to do. And that really is Jeff Bezos,” Risher told CNN. “I’m just copying his strategy that worked pretty well for Amazon. I think it can work pretty well for Lyft and our customers.”

    But as Risher works to revive Lyft’s fortunes, he faces a rival, Uber, that has shown renewed strength in recent quarters. (Uber has also added features to make airport pickups less painful.)

    When asked what went wrong for Lyft, Risher told CNN, “I think the pandemic went wrong with Lyft.” But the pandemic did not impact Lyft and Uber the same.

    Under the leadership of Expedia veteran Dara Khosrowshahi, who took over after founder Travis Kalanick resigned following a long list of PR crises, Uber doubled down on diversifying its business with meal deliveries. That service has helped carry it through the pandemic and bounce back quicker as the economy reopened.

    But in a previous interview with CNN, Risher seemed to dash hopes that Lyft would borrow from Uber’s playbook and branch into other delivery categories.

    Risher told CNN’s Julia Chatterley he wants to make sure Lyft focuses on providing a great ride-hailing service and “not get distracted by delivering pizzas or packages or all sorts of other things that other companies are doing.”

    For now, Risher and Lyft are focusing on the all-important summer travel season.

    Another update unveiled Thursday helps customers get out the door to the airport at the best time by syncing their flight info from their smartphone calendar into their Lyft app to get reminders about booking airport rides. Risher told reporters Thursday that the basic idea for this arose because he and his wife could never agree on the best time to leave for the airport.

    “Our focus right now as summer travel begins is really de-stressing the airport experience in particular,” Risher told CNN.

    Risher demurred when asked if Lyft would be an independent company a year from now, after many industry-watchers initially thought news of his appointment was aimed at positioning the company for a sale.

    “It’s not our focus to be part of somebody else’s company,” Risher said.

    Uber may be outpacing Lyft today, but Risher believes customers are best served by having both companies around.

    “My view is every single person who’s a rider should have both apps on their phone, I really believe that, because sometimes you want a choice,” he added, “but then we want you to choose Lyft, and the reason we want you to choose Lyft is because we think we can provide a better experience.”

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