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SpaceX had another StarShip test on March 30. Serial number 11, or SN11, had a beautiful launch but then crashed in a huge ball of fire upon attempting a landing. That makes four in a row. The problem turned out to be some fuel plumbing. SN15 has already been built (12-14 skipped). I predict SN15 will be successful. Getting people to Mars is going to happen, but it will take some time.
The landing of the Perseverance spacecraft on February 18 will chalk up a lot of firsts. The one I am excited about is the $85 million Ingenuity helicopter. NASA is targeting no earlier than Sunday, April 11, for the first attempt at powered, controlled flight on another planet. It will be spectacular to witness this.
The market continues to set new records. My MAGFA stocks added a trillion dollars to their market cap since the last time I posted the index. The S&P 500 rose even more than the MAGFA stocks. They now represent 25% of the S&P. The government is coming after them but I don’t see them getting slowed down. I replaced Royal Caribbean with Roblox, a newly listed public stock which used the direct listing approach. I have been an investor in Roblox since 2009 as a limited partner in First Round Capital, but it was not until my five and eight year old granddaughters recently demonstrated Roblox to open my eyes to the potential.
Bitcoin and Etherum continue to rise. The total market cap of all 9,000+ cryptocurrencies is just shy of $2 trillion, approaching 20% of the market cap of gold. Bitcoin is 55% of the total and Ethereum is 12%. Many big banks and assorted pundits have pooh-poohed crypto, but now they are beginning to participate.
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Copyright © 2023. All rights reserved.
