Connect with us

Techcrunch

NASA taps Kathy Lueders to lead its human spaceflight efforts

Avatar

Published

on

NASA has selected a new top official to oversee all of its efforts regarding human spaceflight — Kathy Lueders, who previously led NASA’s commercial crew program starting in 2014 and culminating in the successful first crewed demonstration launch of SpaceX’s Dragon spacecraft last month.

Lueders also previously worked on NASA’S Commercial Cargo program, which has led to the long and successful relationship between SpaceX and the agency to fly regular cargo supply missions using Dragon and SpaceX’s Falcon 9. In her new role, she’s overseen not just Commercial Crew, which includes both SpaceX and Boeing’s crewed flights, but also Artemis, the ambitious NASA program designed to bring the first American woman and the next American man to the surface of the Moon by 2024.

Officially, Lueders will now be Associate Administrator of the Human Exploration and Operations (HEO) Mission Directorate. The office was previously held by Doug Loverro, who resigned in May just ahead of the historic Demo-2 crewed launch, which it was later revealed was as a result of some kind of behavior during the contract award for the agency’s crew lunar lander program that was against its fairness rules.

The HEO is in good hands now with Lueders at the helm, given how much she’s accomplished during her tenure at NASA, and her excellent history of working in partnership with the agency’s private sector partners, including SpaceX and Boeing.

Source: https://techcrunch.com/2020/06/12/nasa-taps-kathy-leuders-to-lead-its-human-spaceflight-efforts/

Techcrunch

Political strategist turned tech investor Bradley Tusk on SPACs as a tool for VCs

Avatar

Published

on

Bradley Tusk has become known in recent years for being involved in what’s about to get hot, from his early days advising Uber, to writing one of the first checks to the insurance startup Lemonade, to pushing forward the idea that we should be using the smart devices in our pockets to vote.

Indeed, because he’s often at the vanguard, it wasn’t hugely surprising when Tusk, like a growing number of other investors, formed a $300 million SPAC or special acquisition company, one that he and a partner plan to use to target a business in the leisure, gaming, or hospitality industry, according to a regulatory filing.

Because Tusk — a former political operative who ran the successful third mayoral campaign for Mike Bloomberg —  seems adept at seeing around corners, we called him up late last week to ask whether SPACs are here to stay, how a Biden administration might impact the startup investing landscape, and how worried (or not) big tech should be about this election. You can hear the full conversation here. Owing to length, we are featuring solely the part of our conversation that centered on SPACs.

TC: Lemonade went public this summer and its shares, priced at $29, now trade at $70. 

BT: They are down today last I checked. When you only check once in a blue moon, you’re like, ‘Hey, look at how great this is,’ whereas if, like me, you check me every day, you’re like, ‘It lost 4%, where’s my money?’

We got really lucky; Lemonade was our second deal that we did out of our first fund, and the fact that it IPO’d within four years of the company’s founding is pretty amazing.

TC: Is it amazing? I wonder what it says about the common complaint that the traditional IPO process is bad — is it just an excuse?

BT: [CEO] Daniel Schrieber was very clear that he and [cofounder] Shai Wininger had a strategy from day one to go public as quickly as they possibly could, because in his view, an IPO is supposed to represent kind of the the beginning. It’s the ‘Okay, we’ve proven that there’s product market fit, we’ve proven that there’s customer demand; now let’s see what we can really do with this thing.’ And it’s supposed to be about hope and promise and future and excitement. And if you’ve been a private company for 10 years, and you’re worth tens of billions of dollars and your growth is already starting to flatten out a little bit, it’s just much less exciting for public investors.

The question now for everyone in our business is what happens with Airbnb in a few weeks or whenever they are [staging an IPO]. Will that pixie dust be there, or will they have been around so long that the market is kind of indifferent?

TC: Is that why we’re seeing so many SPACs? Some of that pixie dust is gone. No one knows when the IPO window might shut. Let’s get some of these companies out into the public market while we still can?

BT: No, I don’t I don’t think so. I think SPACs have become a way to raise a lot of money very quickly. It took me two years to raise $37 million for my first venture fund, and three months was the entire process for me to raise $300 million for my SPAC. So it’s a mechanism that is highly efficient and right now is so popular with public market investors that there is just a lot of opportunity, and people are grabbing it. In fact, now you’re hearing about people who are planning SPACs having to pull [them] back because there’s a ton of competition right now.

At the end of the day, the fundamentals still rule. If you take a really bad company public through a SPAC, maybe the excitement of the SPAC gets you an early pop. But if the company has neither good unit economics nor high growth, there’s no real reason to believe it will be successful. And especially for the people in the SPAC, where they have to hold on to it for a little while, by the time the lockup ends, the world has probably figured out that this is not the greatest IPO of all time. You can’t put lipstick on a pig.

TC: You say you raised the SPAC very quickly. How is the investor profile different than that of a typical venture fund investor?

BT:  The investors for this SPAC — at least when I did the roadshow, and I think I did 28 meetings over a couple of days — is mainly hedge funds and people who don’t really invest in venture at all, so there was no overlap between my [venture fund] LP base and the people who invested in our SPAC that I’m aware of. These are public market investors who are used to moving very quickly. There’s a lot more liquidity in a SPAC. We have two years to acquire something, but ultimately, it’s a public property, so investors can come in and out as they see fit.

TC: So it’s mostly hedge funds that are getting paid management fees to deploy their capital in this comparatively safe way and that are getting interest on the money invested, too, while it’s sitting around in a trust while [the SPAC managers] look for a target company.

BT: Why it kind of does make sense for [them to back] VCs is they are basically making the bet to say: does this person running the SPAC have enough deal flow, enough of a public profile, enough going on that they are going to come across the right target? And venture investors in many ways fit that profile because we just look at so many companies before deploying capital.

TC: Do you have to demonstrate some kind of public markets expertise in order to convince some of these investors that you know what it takes to take a company public and grow it in the public markets?

BT: I guess. We raised the money, so I guess I passed the test. But I did spend a little under two years on Wall Street; I created the lottery privatization group of Lehman Brothers. And my partner [in the SPAC], Christian Goode, has a lot of experience with big gaming companies. But overall, I think that if you are a venture investor with a ton of deal flow and a good track record but very little or no public market experience, I don’t know that that would disqualify you from being able to rate a SPAC.

Source: https://techcrunch.com/2020/10/20/what-bradley-tusk-sees-coming/

Continue Reading

Techcrunch

Watch GM unveil the $80,000 GMC Hummer EV right here

Avatar

Published

on

GM just took the wraps off the Hummer EV and it looks great. The vehicle is coming to dealers in 2022, with pre-orders starting in 2021. You can watch the unveiling here.

The vehicle is detailed here. With 1,000 HP, 350 mile range, and autonomous drive modes, it’s an impressive vehicle though still significantly more than Tesla said the Cybertruck will cost.

Source: https://techcrunch.com/2020/10/20/watch-gm-unveil-the-80000-gmc-hummer-ev-right-here/

Continue Reading

Gaming

AOC aims to get out the vote by streaming Among Us with pokimane and HasanAbi

Avatar

Published

on

We are about seven months into a pandemic and just two weeks from a presidential election. At this point, surprises are a dime a dozen. So it should feel very 2020 that Rep. Alexandria Ocasio-Cortez is about to stream Among Us, the hit game of 2020, on Twitch alongside mega-streamer pokimane and political analyst HasanAbi.

Ocasio-Cortez tweeted yesterday that she was looking for people to play the popular game with in an effort to get out the vote, noting that she’s never played before but that it looks fun.

Streamer pokimane, who has 6 million followers on Twitch and whose YouTube videos regularly see more than 1 million views each, responded to the tweet with a figurative raised hand.

HasanAbi, a very popular political commentator on Twitch, who has more than 380,000 Twitter followers, also chimed in to the conversation saying that they’re already making a lobby. It wasn’t long before Rep. Ilhan Omar raised her hand, too.

A good game of Among Us (imagine that someone mixed a fairly basic multiplayer video game with a murder mystery party) usually requires 10 players, so the other six players are still TBD. But the Verge reports that a handful of other streamers (such as DrLupo, Felicia Day, Greg Miller, James Charles, and Neekolul) also lined up to play with AOC.

According to Ocasio-Cortez, the stream is all about getting out the vote. And this isn’t the first time that she’s used video games to connect with her followers. AOC opened up her DMs to all 6.8 million of her followers back in May to let them send her an invite to their island, and she visited them.

Millennial voters (and Gen Z) skew toward backing the Biden / Harris ticket, and AOC is coming to them by getting on Twitch and streaming one of the rocket ship games of this year.

The stream starts at 9pm ET/6pm PT and can be found here.

And you can check if you’re registered to vote here.

Update 9:01pm ET: AOC hasn’t even started playing the game yet and has nearly 250,000 concurrent viewers. 

Source: https://techcrunch.com/2020/10/20/aoc-aims-to-get-out-the-vote-by-streaming-among-us-with-pokimane-and-hasanabi/

Continue Reading
Aviation2 hours ago

Flybe Comeback Planned for Spring 2021

Aviation2 hours ago

Which Individuals Spend The Most On Private Air Travel?

Aviation3 hours ago

Use domestic quarantine rooms for Aussies abroad, say airlines

Aviation3 hours ago

CASA staff pushed ‘to the brink’, say Professionals Australia

Aviation3 hours ago

How Much Does It Cost To Fuel A Commercial Airliner?

Esports4 hours ago

Rep. Alexandria Ocasio-Cortez’s Among Us stream peaks at over 400,000 concurrent viewers

Aerospace4 hours ago

Space Force stands up operations command in Colorado Springs

Aviation4 hours ago

What’s Happened To Icelandair’s 787 Order?

Esports5 hours ago

Hikaru Nakamura challenges President Barack Obama to a game of chess

Esports5 hours ago

PUBG Mobile reveals first virtual band, Power4

Aviation6 hours ago

Confirmed: Cathay Pacific To Close Down Cathay Dragon

Esports6 hours ago

Lee Sin added to League of Legends: Wild Rift

Esports6 hours ago

How to use the AR Mapping features in Pokémon Go

Aviation6 hours ago

Emirates Economy vs. Qatar Economy- What’s Best?

Aviation6 hours ago

Podcast: What’s the real story behind Scurrah’s Virgin exit?

Esports6 hours ago

Hundreds of Twitch partners have received DMCA takedown warnings

Aviation6 hours ago

Brisbane-Cairns now busiest Qantas route

Esports7 hours ago

Haksal retires from professional Overwatch

Energy7 hours ago

CO.R.D.A.R Valsesia adopt innovative Israeli wastewater data solution to reduce water degradation in the Italian Alps

Aviation7 hours ago

Tasmanian drones find guns and chase vehicles

Techcrunch7 hours ago

Political strategist turned tech investor Bradley Tusk on SPACs as a tool for VCs

Esports7 hours ago

Armada or Mang0: Super Smash Bros. Melee community debates best player ever

Energy7 hours ago

Commencement of Cash Tender Offer for Ascent Resources Utica Holdings, LLC’s and ARU Finance Corporation’s 9.00% Senior Notes due 2027

Techcrunch7 hours ago

Watch GM unveil the $80,000 GMC Hummer EV right here

Energy7 hours ago

Entrada de Pedidos da Indústrias Romi atinge R$313,4 milhões, crescimento de 65,5% em relação ao 3T19

Aviation7 hours ago

Two JAL Affiliates To Join oneworld Alliance

Gaming7 hours ago

AOC aims to get out the vote by streaming Among Us with pokimane and HasanAbi

Energy8 hours ago

Berkeley Lab Building Efficiency Campaign Drives $95M in Annual Energy Savings

AR/VR8 hours ago

PSVR Not Compatible With PS5 Camera, New Japanese Bundles Include Adapter for PS4 Camera

Automotive8 hours ago

Feast your eyes on the all-new, all-electric GMC Hummer EV

Techcrunch8 hours ago

GMC reveals the Hummer EV: 1,000 HP, 350 mile range, and 0-60 in ‘around 3 seconds’

Aviation8 hours ago

Air Force Thunderbirds to Headline Wings Over North Georgia

Aviation8 hours ago

Alaska Airlines Brings Back Surf Wave Dependant Flight Discounts

Esports9 hours ago

Riot lays out buffs, nerfs, and other changes coming in League Patch 10.22

Aerospace9 hours ago

NASA’s OSIRIS-REx spacecraft lands on asteroid in bid to collect samples

Aerospace9 hours ago

OSIRIS-REx touches down on asteroid

Aviation9 hours ago

Delta Air Lines Expands Cancun A330 Flights Through Winter Season

Esports9 hours ago

Everything we know about Verizon’s Wild Rift Invitational

Esports9 hours ago

AZR open to European offers

Fintech10 hours ago

Unblu Teams Up with Celero, LUKB to Boost Digital Customer Engagement

Trending