News from johnpatrick.com

SpaceX Launches

SpaceX announced plans to put a StarShip into orbit and then land near Hawaii. It would be a 90 minute flight. They continue with a rapid pace to develop a way to get to the Moon and beyond.

 

 

Meanwhile China prepares to land its Zhurong rover on Mars targeting the six-wheeled Zhurong robot to land at Utopia Planitia, a vast terrain in the planet’s northern hemisphere. The Chinese rover will use a combination of a protective capsule, a parachute, and a rocket platform to make the descent. If they pull it off, it will be a remarkable achievement. The task is incredibly difficult and so far only Americans have mastered Mars landings.

Wall Street

The MAGFA stocks were strong today but down from recent levels. Coinbase took a 13% hit despite tremendous revenue and profits. Investors are concerned their fees will decline. Tesla was down 16%. A Tesla involved in a fatal crash on a Southern California freeway last week was operating on Autopilot at the time, authorities said.

Bitcoin having continued volatility as expected. Etherum continues to surge. Ethereum is in the DeFi, distributed finance segment. Many new financial and insurance firms are set up to be disrupted by DeFi. This is good in my opinion. Old fashioned ways need to be uprooted. Ethereum is playing a role. Doge coin was up 30+% and is also volatile based on Elon Musk comments. He may get himself in trouble as a manipulator. Crypto is on a wild ride. There are now 9,818 crypto coins out there. Most are a joke but people are buying them. Bitcoin was 75% of total crypto market cap and now it is 40% as ETH has soared.