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Monthly Archives: February 2021
Harry And Meghan Don’t Have A Clue What It Means To Be Aristocracy – The Federalist
Posted: February 25, 2021 at 1:03 am
Just when we thought Meghan and Harry had left the public spotlight and were ready to raise their family in privacy, theyve thrust themselves into the headlines again.
Last Monday, CBS announced the former royals will hold a 90-minute primetime intimate conversation with talk show host Oprah Winfrey next month.
The saga of Meghan and Harry isnt just a case of two elites wanting to have their cake and eat it. It also reflects a modern misunderstanding of what the purpose of elites in society is or whether they have any purpose at all.
Harry and Meghan have a long and awkward relationship with publicity. In October 2019, during a $340,000 tour of Africa, Meghan told ITV News that Not many people have asked if Im ok, implying that she wasnt getting enough support from the royal family.
Would it be fair to say, [youre] not really ok? Its really been a struggle? ITVs Tom Bradby asked, and Meghan nodded yes.
Im sure adjusting to married life and motherhood was at times challenging for Meghan, like it is for every wife and mother. But when you married a prince, basically live in a castle, and have every material amenity at your fingertips, the commoners dont want to hear you complain.
Then came Megxit in January 2020. Rather than making a joint decision with the queen, Harry and Meghan announced through an Instagram post that they planned to step back as senior royals. Under a glossy photo of the smiling couple, they expressed plans to carve out a progressive new role for themselves and to split their time between the United Kingdom and the United States.
Ever since their abdication of royal responsibilities, Harry and Meghan have been popping back into our lives to sign deals with big Hollywood companies and lecture us while claiming they want to be left in privacy.
In July, Harry was caught on a hot mic asking Disney executive Bog Iger about potential career opportunities for Meghan. Months later, Meghan signed a voiceover deal with Disney.Theyve also signed deals with Netflix and Spotify.
In September, they broke protocol that prohibits royals from involving themselves in politics. Two months before the American presidential election, they urged Americans to reject hate speech, misinformation and online negativity in the most important election of our life. A month later, they met with California Gov. Gavin Newsom for an hour-long introductory meeting.
Theyve touted the evils of climate change, while also using private jets to travel around the world. Harry has lectured online audiences about unconscious racial bias, from the couples $14 million mansion in California.
Most recently, after the queen confirmed the permanence of Harry and Meghans departure from royal service, Harry and Meghan issued a statement insisting We can all live a life of service. Service is universal. The statement appeared to be a pointed and defensive reaction to the queens decision to allow them to step down from public duties, as they wished.
As modern Americans steeped in a culture of individualism and liberal thought, we see little use for any concept of aristocracy or nobility. Our aversion to elites is well-founded; Western history is fraught with examples of abused power.
But in rejecting the concept of nobility, weve also lost our ability to understand it. In its best form, aristocracy isnt simply the tyrannical rule of the many by the powerful few.An ideal aristocracy, however rarely it is actually achieved, is based on the principle that those who have power or advantage in society have an obligation to steward it well and invest back into the community.
This concept is defined as noblesse oblige, a French phrase meaning nobility obligates. Oxford defines it as the inferred responsibility of privileged people to act with generosity and nobility toward those less privileged.
Of course, human nature is self-serving, so this concept of aristocratic service is usually perverted by the desire for power. As a result, we usually view aristocracy as a dangerous and undesirable form of government. But even in a democratic society, the principle that people with advantages should steward those privileges well and use them to serve others is applicable.
As part of one of the last remaining vestiges of nobility in the West, Harry and Meghan should have used their position to serve the people around them. The British royal family has a long history of doing so. Queen Victoria, who reigned from 1837-1901, greatly increased the royal familys charitable patronages, and called for royals to be benefactors of mankind.
During World War II, a young Elizabeth joined the Womens Auxiliary Territory Service, working as an auto mechanic. Today, under her leadership as queen, the royal family is involved in almost 3,000 charities.
By seeking to keep the positive publicity and public platform of royal celebrities while rejecting the responsibilities of monarchy, Harry and Meghan are missing the point of their station. Royals earn their keep by investing back into their country; otherwise theyre simply reality TV stars.
The concept of noblesse oblige doesnt imply that the masses are too simple to take care of themselves and therefore must be ruled by self-appointed elites. Rather, it requires each of us to use whatever gifts and station we have in life to serve others.
Anyone with life advantages should employ the practice, pouring back into their communities. These advantages dont have to be socio-economic; they can also be talents, educational opportunities, interests, and areas of influence.
This is nothing less than the biblical command that to whom much was given, of him much will be required. As citizens in America, where we reject the social strata of aristocracy, we can still use our talents and advantages to serve those around us.
Indeed, that community investment is what keeps an individualistic and democratic society from becoming a ruthless free-for-all. The responsibilities that tie us to other members of our community are the foundation for society. Without them, were all self-serving wannabe reality stars fighting for the limelight.
Elle Reynolds is an intern at the Federalist, and a senior at Patrick Henry College studying government and journalism. You can follow her work on Twitter at @_etreynolds.
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Top Democrats Who Ignored Violence Receive Big Bucks From Big Biz – The Federalist
Posted: at 1:03 am
While corporate donors fund Democratic members of Congress who have signaled their approval for violence so long as it is heralded by leftist groups Antifa and Black Lives Matter, they hypocritically threaten to yank funding from the 147 Republicans who voted not to certify the results of the 2020 presidential election.
As cities burned across the country this past year, many top Democrats did not condemn the rioting and looting, or merely brushed it off as mostly peaceful. This narrative was likewise promoted on CNN and MSNBC, as reporters stood among fiery streets and lied to our faces about the violence in the name of social justice.
Virtue-signaling is the foremost appetite of corporate America right now, as the rich and powerful attempt to save face by promoting the notion that their values do not align with Republican voters at all costs. The precedent being set, though, is a confusing one based on arbitrary distinctions conservatives would be keen to review the next time leftists embrace violence.
If these sanctimonious corporations truly believe in law and order, why did they not rescind the funding of Democrats who openly supported violence this summer and thereafter? Those names include some of the top ones in the party, including Vice President Kamala Harris, House Judiciary Chairman Jerry Nadler, and Senate Majority Leader Chuck Schumer.
At the height of the leftist rioting and looting in June, Harris said in an interview on The Late Show with Stephen Colbert that the violence would not stop. She made no effort to encourage those among her party to cease their tirade and rejoin civil society, sending a clear message of support and backing for the political violence.
Theyre not going to stop. Theyre not going to stop. This is a movement, Im telling you. Theyre not gonna stop, Harris repeated. And everyone beware because theyre not gonna stop. Theyre not gonna stop before Election Day and theyre not going to stop after Election Day. And everyone should take note of that. Theyre not gonna let up and they should not.
Also in June, Harris tweeted a link encouraging her followers to donate to the Minnesota Freedom Fund, an initiative to bail out protesters who attacked police, bystanders, and private property.
As reported by The Daily Caller, the fund promoted by Harris notably bailed out six men who were accused of domestic violence after June. The fund also bailed out a twice-convicted sex offender who was accused of sexual relations with a minor.
In September, the Minnesota Freedom Fund released financial information indicating that only 6 percent of donations to it after the death of George Floyd were allocated toward actually bailing out protestors.The vast majority went toward legal assistance for those accused of violent crimes leftists find sympathetic, like Reece Omaur Bonneville, who reportedly left officers with a black eye and cuts and bruises after they apprehended him following reports that he abused his girlfriend.
Throughout Harriss career, Google parent company Alphabet has given $10,000 to Harris directly as a company and $252,126 when including employee campaign donations. Harris received $1,000 from AT&T and $152,933 from affiliated individuals.
Alphabet has suspended all campaign donations after the Capitol breach, as has AT&T.But why did they not take this action when it was the Democrats egging on violencewhereas not one Republican member of Congress supported the Jan. 6 mayhem?
In July, Rep. Nadler, D-N.Y., was confronted in Washington D.C. by a reporter who asked if he was willing to condemn the BLM and Antifa violence in Portland, Oregon that had at that point gone on for about 60 nights straight.
Thats a myth, he said plainly, neglecting what America could see with one eye shut. Eventually, it would be reported that the leftist anarchist uprising was estimated to cost Portland at least $23 million in damages.
Nadlers comments caught on video in July came after a speech he gave in June on the House floor arguing that Antifa is an imaginary organization.
Yet when it wasnt leftist violence that had occurred, Nadler promptly pressed the Department of Justice to prosecute all the rioters involved in the Capitol breach. The representative is insanely hypocritical for not applying this standard to all who commit violence in plain sight. The left did so for months, and police were routinely ordered to stand down and the rioters excused and overlooked by Democrat elected officials.
In the 2020 election cycle, Nadler received $12,000 from Walt Disney Co and $18,653 total from the company and its employees. He received $10,000 each from AT&T, Alphabet, Comcast, and Microsoft. These corporations have now either threatened or already rescinded GOP donations over the violence Republicans roundly condemned during the Capitol riot.
Where is their dignity in applying this precedent to lawmakers like Nadler who openly cheer on or deny leftist violence?
Sen. Chuck Schumer, D-N.Y., said in January during a weekly address that Senate Democrats plan to conduct a rigorous investigation of the events that culminated in the Capitol breach, including the role of white supremacy, disinformation, and the gross disparity in force between the Trump administrations response to the Capitol rioters and the administrations response to the racial justice protesters last summer.
There is one glaring issue with Schumers statement here.Is he legitimately calling leftist rioters and looters that inflicted the most expensive riot damage in U.S. historyan estimated $2 billionmerely racial justice protestors? It sure appears so.
After reconvening in the Senate that same day, Schumer made a reference comparing the Capitol breach amid which five people died to the Japanese attack on Pearl Harbor, which killed 2,403 Americans, but repeatedly referred to the murder and mayhem all summer long as mostly peaceful. That is also true of the Jan. 6 Trump rally, but point that out and you are endorsing domestic terrorists while getting roundly condemned by applying an equal standard to the leftist 2020 riots all across the nation.
During the 2020 cycle, Deloitte LLP gave $10,000 to Schumer through a LeadPAC in his name. During the years 2012 to 2020, they gave him and his PAC $59,000 combined.This is the same company that said in a statement after the Capitol breach that it will not support those who work to undermine the rule of law, essentially saying that Republicans who operated through a legal process were undermining the government.
JPMorgan Chase and Co. has given the most out of any PAC to Schumer throughout his career, at $65,000, not including the $309,312 that went to Schumer from its employees. Goldman Sachs comes in at second, with $53,000 donated and $609,015 in total including employees. Both corporations have suspended GOP donations over the breach.
JPMorgan Chase and Co. spokeswoman Patricia A. Wexler declined to comment and Goldman Sachs did not immediately respond to a media request by The Federalist.
If these corporations take this action in retaliation for a small mob of Trump supporters who committed violence for one day, why do they fail to use the same standard for top Democratic politicians who openly supported the months-long Antifa and BLM attacks that resulted in a significantly higher death count?
We know the answer to this question; to all of the questions above. Companies are willing to turn a blind eye to Democratic malfeasance for which they punish Republicans. A political double-standard controls corporate America.
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Hemingway: Limbaugh Taught A Generation How To Fight Totalitarian Left – The Federalist
Posted: at 1:03 am
Federalist Senior Editor Mollie Hemingway remembered iconic broadcast host Rush Limbaugh on Fox News Wednesday after the pioneer of conservative talk radio passed away from lung cancer.
There was no more prominent conservative who represented the right half of the country for 30 years than Rush Limbaugh, Hemingway said. It is not too much to say that he gave an entire generation of Americans a way to think and talk about the politics and meaning of America, and that he gave the people a vocabulary to fight back against a portion of the left that has grown increasingly anti-American.
Limbaugh died at age 70 this week after revealing his diagnosis with late-stage lung cancer just more than a year ago. President Donald Trump awarded Limbaugh the Presidential Medal of Freedom at the presidents final State of the Union address the day after Limbaugh announced to millions of listeners his new diagnosis.
Limbaugh thank his listeners in one of his final broadcasts at the end of last year after outliving his initial prognosis.
I wasnt expected to be alive today, Limbaugh said. I wasnt expected to make it to October, and then to November, and then to December. And yet, here I am. And today, got some problems, but Im feeling pretty good today.
Read the most touching tributes to Limbaugh here.
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Tiger Woods In Surgery With Major Leg Injuries After Car Crash – The Federalist
Posted: at 1:03 am
Professional golfer Eldrick Tiger Woods is undergoing major surgery for multiple leg injuries following a serious vehicle collision in California on Tuesday morning.
He is currently in surgery and we thank you for your privacy and support, his agent, Mark Steinberg, told Golf Digest.
The Los Angeles County Sheriffs Department announced the roll-over in Rolling Hills Estates on Tuesday afternoon, explaining that the single-vehicle crash, which occurred early in the morning, required the jaws of life to remove the professional golfer from the wreckage. The 45-year-old Woods suffered injuries that required immediate transportation to the hospital.
FOX 11 reported, Woods was in the area to film something at the luxury Terranea Resort and lost control of the vehicle while traveling downhill because he was unfamiliar with the steep terrain.
According to Golf Digest, Woods was in the state to host the PGA Tours weekend Genesis Invitational and spent Monday on the Rolling Hills Country Club golf course with Dwayne Wade and David Spade to shoot something for a film, giving on-course lessons to a number of celebrities, but he mostly provided instruction and hit a few putts. While the Digest notes that Woods was in good spirits on Monday, concerns began to surface after he did not arrive to the course for the second day of shooting.
Woods recently underwent a fifth back surgery, keeping him away from competitions until anupcoming MRI before he could ramp up practicing and training for a return to competition. During the Monday shoot, Woods did not hit balls or play any holes.
Jordan Davidson is a staff writer at The Federalist. She graduated from Baylor University where she majored in political science and minored in journalism.
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We Need To Have A National Conversation About Offensive Muppets – The Federalist
Posted: at 1:03 am
After too many years of silence on the matter, Disney has taken the courageous step of adding an advisory to The Muppets to warn viewers that we are about to see harmful and racist content. Its about time we have a national conversation about these offensive muppets who, in their ignorance, have perpetuated harmful stereotypes through their puppet privilege.
This program includes negative depictions and/or mistreatment of people or cultures. These stereotypes were wrong then and are wrong now, reads the Disney Plus disclaimer finally. Rather than remove this content, we want to acknowledge its harmful impact, learn from it and spark conversation to create a more inclusive future together. Disney is committed to creating stories with inspirational and aspirational themes that reflect the rich diversity of the human experience around the globe.
The Muppets was anything but diverse, inclusive, and inspirational.
Take Kermit the Frog, for starters. The straight male protagonists prejudice shows every time he opens his little amphibian mouth. Kermits statement in his hit The Rainbow Connections, that rainbows are only illusions, is clearly a direct attack on the LGBT community. According to an unnamed source, Kermits lyrics are actually a frogwhistle to Pepe and his ilk to literally erase trans people.
And how about his constant gripes about his skin color? Its not that easy bein green? Kermits attempts to brand himself as a frog of color is offensive to the BIPOC community.
Sam Eagle must be canceled as a white supremacist theocrat, who is reported to be a member of the Proud Boys. A quick internet search revealed that his Facebook cover photo says Blue Lives Matter. Animal evokes Trumpian rhetoric about MS-13 and is offensive toward illiterate musicians. And Statler and Waldorf are symbols of the white patriarchy, who are Me Too accusations just waiting to happen.
The Swedish Chef is undoubtedly racist and a glaring example of cultural appropriation because, as critics say, Hes a stereotype, possibly offensive, certainly bumbling, and probably not even Swedish.
His vocal cadence is clearly more Norwegian. English-speakers, though, dont use this lilt and dont know the difference, Jen Doll noted in her vital essay in The Atlantic. Boorishly, we just lump everyone into the same Scandinavian group, calling him Swedish because, well, thats his name.
Please understand: Sweden is not just Ikea and meatballs, and America needs to try harder. Your ignorance is racism, and the chef is not amusing.
Miss Piggy is perhaps the only Muppet who doesnt deserve to be canceled. Its nice to see representation from the gender-fluid community. Frank Oz did such a beautiful job proving to young minds that men can indeed be women or at least female porkers. The character seems to be a microaggression against orthodox Jews, but they dont matter.
Its nice to see Disneys commitment to ally-ship because its previous silence was violence. But if we want to have the cultural reckoning we really need, we need to evaluate all the ways The Muppets have steeped our society in racism, sexism, and all the other -isms.
Any talk show hosts who have ever featured Kermit should probably take a hard look in the mirror and ask whether they can honestly consider themselves to be antiracists. Can we ever again listen to Harry Bellefonte or watch Steve Martin? How about Jimmy Kimmel or Ellen DeGeneres? As a white person, its not my place to say. But absolutely not.
If we dont recognize the systemic racism and sexism of old films and shows such as The Muppets, we will never successfully transition to completely unproblematic entertainment, such as Disneys new Mulan, which was created without any cultural appropriation and definitely no human rights abuses. Thank you to the CCP for helping make that dream a reality.
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Becerra Refused To Call For Free Elections In Cuba When He Met With Fidel Castro – The Federalist
Posted: at 1:03 am
The Senate Health, Education, Labor, and Pensions Committee will gear up for its second day of confirmation hearings for President Joe Biden nominee Xavier Becerra to be the secretary of the Department of Health and Human Services.
Yesterday, The Federalist highlighted Becerras ardent pro-choice stance, particularly in regard to partial-birth abortions. Today, it is time to turn back the clock to 1997 Cuba, when then-Rep. Becerra, D-Calif., met with Cuban dictator Fidel Castro and failed to take action on loosening the trade embargo with the communist state. He also refused to call for free elections in Cuba.
As reported by Fox News, Becerra insulted several members of Congress by his visit to Cuba, such as Florida Republican Reps. Ileana Ros-Lehtinen and Lincoln Diaz-Balart, who then resigned from the House Hispanic Caucus. Diaz-Balart told the press he would not be willing to participate in the Hispanic coalition until Becerra demonstrates minimal respect for the rights of Cubans to be free and calls for free elections for that oppressed island, as initially reported by the Los Angeles Times.
When pushed on calling for free and fair elections in socialist Cuba, Becerra did not budge. This is an issue that the caucus doesnt take positions on, he said. Becerra continued to face ridicule by Congress for his failure to repudiate the repressive Castro regime, but seemingly never understood the rationale behind those who left the House Hispanic Caucus.
Im very disappointed that the two members decided to take this action. I consider them friends, Becerra said. And I know that they are very passionate about the issue. Certainly, it the whole issue of Cuba is one that the caucus, because there has not been a strong consensus, has decided not to take on. I as the new chair of the caucus, it was not my intention to change that policy either. They chose, however, to make it an issue.
Becerra has been notably soft on Cuba, particularly in 2007, when he supported an amendment put forth by New York Democratic Rep. Charles Rangel to urge President George W. Bush to lift the ban on travel to Cuba, as well as foster trade. The amendment failed to pass 245-182.
The message is very clear, Diaz-Balart said at the time. There will be no possibility of a relaxation of sanctions until there is a democratic constitution in Cuba.
As of today, it appears moderate Sens. Mitt Romney, R-Utah, Joe Manchin, D-W.Va., and Susan Collins, R-Maine, are undecided on their Becerra vote. GOP senators will face off with the progressive HHS nominee, aiming to throw a wrench in his confirmation.
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After Burst Pipes Flooded Texas Homes, Many Are Blessed With Free Repairs – The Federalist
Posted: at 1:03 am
LUBBOCK, Texas As millions of Texans grapple with the aftermath and destruction caused by Winter Storm Uri last week, including struggling to find access to clean water and funds to clean up their flooded homes destroyed by pipes that burst as they froze and thawed, some are benefitting from the generosity of kind strangers who have dedicated their time, effort, and money to repair the state one pipe at a time.
Ashleigh Cedillo, a 36-year-old single mother in Lubbock, is one of the many people in Texas who faced no heat, no water, and burst pipes that flooded part of her home. Despite her unfortunate circumstances, Cedillo has also experienced the generosity and care of her fellow Texans as she works to return to normal.
Last summer, Cedillos air conditioning and heating unit broke, leaving her home with no internal temperature control other than space heaters to keep her home warmed in the winter months. So when record subzero temperatures and a blistering wind chill plagued the south plains last week, Cedillo and her 7-year-old daughter gave up trying to find more space heaters, which were sold out at many local stores, and sought shelter at a family members house for a few days with the hopes of staying warm.
We made do with what we had, Cedillo told The Federalist.
When she left her house early in the week, Cedillo said her kitchen sink faucet froze due to the increasingly dropping temperatures outside and in. It wasnt until she received a phone call from her brother on Thursday that she realized the water pipes in her kitchen had burst, gushing water over her countertops and flooding her floors. While the water department acted quickly to shut off her water and prevent further damage to other areas of her home, Cedillo immediately knew the repairs were going to be costly.
I dont really have money for a plumber right now, she said. I have a sister. She allowed me to go over there, but of course, she has her own family and I dont want to get in the way. And so I didnt know [what to do].
With her water turned off, no money to fix the catastrophe that struck her kitchen, and a sudden return to work and school after a crazy week, Cedillo and her young daughter were forced to get creative with how they would continue their daily lives, buying storage tubs from a local dollar store to carry and store water.
I went to the neighbor on the corner and Im like, I dont mean to bother you and this might sound strange, but can you fill this water up for me? This is what we use right now to flush our toilets, Cedillo explained.
The neighbor eagerly agreed to help, filling up the tub so Cedillo and her daughter could flush their toilets, take showers using plastic sacks with holes, and wash their faces. She also bought a case of water bottles to use for brushing teeth.
Ive heard theres boiling notices like around the surrounding areas, and I just want to be safe with my daughter and just make sure that no matter what, were safe, Cedillo explained.
When her daughter asked how long they would have to pull water from a plastic tub to complete their daily routines, Cedillo said she didnt know.
Today was the first day at school, Cedillo told The Federalist on Monday. We woke up 30 minutes extra just in case anything went wrong, but it worked out. I mean, were able to brush our teeth and we washed our face with it and then also to take a shower.
Just as Cedillo started to settle into a routine without running water, a man and his wife, whose names she couldnt remember, came to her house and offered to fix her pipes for free. In just one day, Cedillos water was up and running again.
All I had was $30, and he didnt even charge my card, Cedillo said choking back tears. I dont know why he did it, but he just fixed it for me and he said, Thank you and have a good day, and then went on about his business. Texas takes care of Texas for sure.
The man and his wife are Will and Raquel Arausa, who own and operate Flatland Plumbing in Lubbock, a family-owned business with family values. Together, they are offering their services to people in their community hit by the effects of the recent weather on a pay what you can basis.
The idea to provide gratuitous plumbing services to those in need first came to the Arausas two years ago after an elderly customer, whose home required thousands of dollars worth of repairs, requested Wills help. At first, he told the woman he couldnt do the job at the payment plan rate she suggested, but after stewing on it, Will ultimately decided to take a week off of his normal paid plumbing schedule to help her.
I didnt ask her for any money, I didnt. And she was so grateful, Will told The Federalist. She was just such a beautiful lady. It was awesome to see how appreciative she was of it. It was the womans genuine gratitude for the act of generosity that Will said pushed him to keep up some of his free services.
I got with my wife and we prayed over it, and I was like, you know what, we need to be doing this for our customers that cant afford this because there is a need for plumbers that even the elderly, they cant afford it, Will said. Plumbing is expensive, crazy expensive, so we came up with a couple of game plans.
While Will said the plans didnt always stick, he knew when the storm hit last week that it would be a prime opportunity to give back to the community and help anyone who needed it. The response, he said, was overwhelming.
We started with [putting] a Facebook post out and telling our story about this lady that I did the work for and also offering the pay what you can or name your price, Will said. We were going to run it for a week from Friday to Friday. So we did that and were still getting calls from it now. Theres so much need for it, but thats where were at now and weve been running calls until 10 or 12:00 at night, since Thursday or Friday. We worked all the way through the weekend, taking care of customers, and weve still got a list of about 40 people left.
Will, who is the only plumber at Flatland, is responding to the influx of calls from Texans all across his city by himself. Its a lot of work but were trying our best, he said.
Jordan Davidson is a staff writer at The Federalist. She graduated from Baylor University where she majored in political science and minored in journalism.
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After Burst Pipes Flooded Texas Homes, Many Are Blessed With Free Repairs - The Federalist
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SpaceX raises $850 million in latest round – SpaceNews
Posted: at 1:03 am
WASHINGTON SpaceX confirmed Feb. 23 it has raised $850 million in a new funding round as the company continues work on two capital-intensive but potentially lucrative projects.
In a filing with the Securities and Exchange Commission, SpaceX stated it had raised $850 million from 69 investors in its latest round. The filing offered no details on those investors or the valuation of the company, although recent reports, such as one by CNBC, stated the new round valued the company at $74 billion, a significant increase.
The round comes six months after SpaceX raised $1.9 billion. The company has raised more than $6 billion in equity to date, most of it since early 2015, when it raised $1 billion in a round led by Google and Fidelity.
That demand for capital is currently driven by two major projects. One is Starlink, its broadband internet constellation, for which the company has launched more than 1,000 satellites but has plans to ultimately deploy tens of thousands more. The other is Starship, the next-generation reusable launch vehicle that the company is developing in South Texas that promises to launch much larger payloads at much lower per-kilogram costs.
Investors are particularly interested in Starlink, with its potential to generate billions in revenue from millions of customers worldwide seeking broadband access. SpaceX has seen strong interest in beta tests of the Starlink service in the United States, Canada and the United Kingdom, and is in the process of expanding service in those countries and others.
Starlink is sending shock waves throughout the satellite industry as a whole, said James Murray of PJT Partners, an investment banking company, during a Feb. 9 session of the 2021 SmallSat Symposium. The fast pace of its rollout, he argued, is disrupting the businesses of more traditional satellite operators.
This is going to be a big year with the public getting to know they can get high-speed internet at least in some locations with Starlink, said Ward Hanson, a lecturer in economics at Stanford University, during another panel at the conference Feb. 8. Youre going to see space touching peoples lives like it did in the 1990s with satellite TV.
SpaceX has also been able to ride a surge of investment into the space industry overall. Its funding rounds have paced the industry, but many other companies have raised significant funding through venture capital and, more recently, by merging with special-purpose acquisition companies, which allow privately-held companies to raise money and go public outside of the traditional initial public offering (IPO) process.
It has never been a better time to raise money for ventures in and around space, Murray said.
SpaceX has long said it has no interest in going public, either for the company itself or by spinning off Starlink. SpaceX Chief Executive Elon Musk, asked about reports a year ago SpaceX was considering spinning out Starlink, said he is thinking about that zero and is instead focused on avoiding the bankruptcies other satellite constellation companies have suffered.
Musk, though, may be reconsidering that. Once we can predict cash flow reasonably well, Starlink will IPO, he tweeted Feb. 9. He didnt forecast when that it would happen, but said in the near term the company would be spending heavily on the deployment of the system, which he called a staggeringly difficult technical & economic endeavor.
SpaceX needs to pass through a deep chasm of negative cash flow over the next year or so to make Starlink financially viable, he wrote in another tweet. Every new satellite constellation in history has gone bankrupt. We hope to be the first that does not.
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SpaceX is really just SPAC and an ex – TechCrunch
Posted: at 1:03 am
Hello and welcome back toEquity, TechCrunchs venture capital-focused podcast, where we unpack the numbers behind the headlines.
This is our first-ever Wednesday episode. If you want to learn more about the latest edition of the podcast, head here for more. This week we talked about space, an increasingly active part of the global economy, and a place where were seeing more and more young tech companies place their focus.
We were lucky to have TechCrunchs Darrell Etherington join us for the show. Hes our resident expert, so we had to have him on to chat about the space startup ecosystem. Heres the rundown:
As we get more comfortable in our Wednesday episodes, well tinker with the format and the like. As we do, werealways taking feedback at equitypod@techcrunch.com, or over on Twitter. Hit us up, were having a lot of fun but are always looking for ways to sharpen the show!
Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday morning at 7:00 a.m. PST, so subscribe to us on Apple Podcasts,Overcast,Spotifyand all the casts.
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Time is running out to enter the Inspiration4 contests for a SpaceX rocket trip – Space.com
Posted: at 1:03 am
You only have a few days left to try and win a chance to go to space on the SpaceX Inspiration4 mission, which is scheduled to launch to Earth orbit in late 2021.
Until the end of this week, go to the Inspiration4 website to win one of its two final seats, along with billionaire and commander Jared Isaacman and Hayley Arceneaux, a physician assistant at St. Jude Children's Research Hospital in Memphis, Tennessee who survived bone cancer and was selected to join the mission as the crew's chief medical officer.
Isaacman donated two more mission seats for the public to come to space with him. Each passenger on the Inspiration4 mission has a code name: Isaacman is "Leadership," Arceneaux is "Hope," and the remaining two seats on the mission will represent "Prosperity" and "Generosity."
Related: Cancer survivor joins private Inspiration4 spaceflight with SpaceX
The first opportunity asks contestants to launch a store on the Shift4Shop ecommerce platform Isaacman is CEO of the company and to "post your inspirational business story on Twitter" to nab a seat representing Prosperity.
"If you're ever hesitating on starting an e-commerce business, this might be one of the best opportunities to elevate your business to the stars," Isaacman told Space.com about the Prosperity seat, in a video interview.
The second opportunity asks for a donation to St. Jude a Memphis-based hospital that treats child cancer patients free of charge to potentially secure the seat representing Generosity. Larger donation amounts will get more entries into the contest. The amounts listed range between $10 for 100 entries) and $5,000 (for 10,000 entries), or you can customize your donation amount. Each tier also receives benefits, such as a mission poster or a vintage T-shirt.
"It's not an auction," Isaacman told Space.com about the Generosity seat. "It's not some rich person who's going to bid $50 million or $60 million for the seat. It's a level playing field right now. So whether you're thinking about making a donation to just an awesome cause in its own right to St. Jude go on the mission website. Give it a shot."
The mission is advertised as the first all-private crewed orbital mission and will include no professional astronauts, with SpaceX pioneering the effort by companies to boost space tourism. A handful of well-heeled space tourists have flown into space on government missions, and companies such as Blue Origin and Virgin Galactic are working on spacecraft that could one day bring paying customers into suborbit.
The deadline to enter the contest is on Sunday (Feb. 28) at 11:59 p.m. EST (0459 March 1 GMT). You can sign up at inspiration4.com and read the official contest rules here.
Follow Elizabeth Howell on Twitter @howellspace. Follow us on Twitter @Spacedotcom and on Facebook.
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Time is running out to enter the Inspiration4 contests for a SpaceX rocket trip - Space.com
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