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Tech

SpaceX's Starlink Goes Pocket-Sized

Unpacking the New Starlink Mini for On-the-Go Internet

It seems like every week we’re talking about either a new technological advancement, or Elon Musk in this newsletter. And today - it’s both.

Musk’s SpaceX company just debuted a portable Starlink Mini. For those unaware, Starlink is a satellite internet constellation that allows coverage for over 75 countries. The objective was to provide mobile broadband globally. Starlink currently has over three million subscribers. 

Starlink satellites first launched in 2019 and now consist of over 6,000 of them. The plan is to deploy nearly 12,000 satellites in total.

With that was the debut of the Starlink Mini last week, which is a portable version of their satellite internet product that is small enough to fit inside of a backpack. The mini antenna is 2.5 pounds and has a kickstand. The service also boasts download speeds of over 100 mbps. 

The only problem is, these cost $599. 

There is also the option to bundle Mini Roam service with the existing service plan for an additional $30 a month, with data being capped at 50 gigabytes per month. That would mean, you’d be spending $150 per month.

Early Starlink customers were invited to purchase these Starlink Minis in an invitation that was sent to them. These mini’s are believed to be available starting next month.

This invention could be useful for those who travel, as musk described them on twitter as a “great low-cost option for a good backup internet connection.”

Politics

Noem's VP Hopes Derailed by Dog Story?

South Dakota Governor Kristi Noem had previously suggested that Donald Trump choosing a female for his vice president would be very beneficial. “All the polls tell him in these swing states that a woman on the ticket helps him win,” she explained. 

Yet, according to Neom yesterday, Trump has not formally vetted her for the position. 

Noem, talking to NBC’s “Meet the Press”, said that she has had conversations with Trump, but has not received any paperwork. Noem stated that Trump “is the only one who will be making the decisions on who will be his vice president.”

Noem also stated that Trump should choose the running mate “that will help him win” and “the best person for the job.”

According to NBC News, Trump has narrowed his list of finalists down to three: Florida Senator Marco Rubio, Ohio Senator JD Vance, and North Dakota Governor Doug Burgum.

Noem HAD been viewed as a top contender, but may have been disqualified after sharing a story about killing her family's dog. But Noem wouldn’t draw those same conclusions. 

When asked, she responded, “that was a story from 20 years ago about me protecting my children from a vicious animal.” 

“The reason it’s in my book is because that book is filled with challenging times and hard decisions,” Noem added. 

Noem shot and killed the family’s young dog, who she described as “untrainable.” Did that cost her this opportunity two decades later? That might be for you to decide. 

Tech/Business

Hacked! Car Dealerships Go Analog

Cyber Attack Forces Thousands of Dealerships Back to Pen and Paper

Despite the prices of cars increasing in recent years, it has still been a tough stretch for car dealerships since covid. The market index has been below the average threshold, indicating a weaker market for most of the last four years. And now, they have to deal with hackers too.

Thousands of dealerships across the country lost access for multiple days to the software they use to help underpin their daily operations, which made it very difficult to sell and repair cars. 

CDK Global provides the technology to the dealerships and were first hacked on Wednesday of last week, forcing them to temporarily shut down their systems. This prompted dealerships to handle their business the old fashioned way… with pen and paper. About 15,000 dealerships use CDK and have been affected.

CDK was purchased in 2022 for $8.3 billion by investment firm Brookfield Business Partners. Coincidentally enough, the company then surveyed dealerships in 2023 on the threat of cyber attacks. They stressed the importance to dealerships of protecting themselves at that time. Apparently, they should have listened to their own advice. 

As of Sunday, this problem was beginning to get resolved. Still, CDK said they expect the process to take “several days.”

Reportedly, the hackers were demanding tens of millions of dollars in payment and, according to Bloomberg, CDK was going to pay up. Which must be that resolution they referenced.

Real Estate

Home Prices Soar Despite Slump

Record Highs as Home Sales Hit 30-Year Low

Despite home sales stalling out, the prices still continue to climb. To all-time highs, in fact. Which isn’t exactly supply and demand. 

The demand isn’t really there right now, at least at these prices, as the sales of owned homes are currently at a 30-year low. 

The inventory of homes for sale went up 6.7% in the Month of May, which is 18.5% higher than May of 2023.

And yet, the median price of existing homes sold in May was $419,300, which is up 5.8% from a year ago, and is an all-time high in Realtor’s recording. 

Lawrence Yun, chief economist at the NAR, offered his sobering commentary on the situation.

“Home sales refuse to recover. I thought we would see a recovery this spring. We are not seeing it,” Yun said. 

The biggest drop off in sales from one month to the next was in the Southern region of the country, where the temperatures seem to be matched by the prices of homes.

Yun does believe that eventually, “more inventory will help boost home sales and tame home price gains in the upcoming months. Increased housing supply spells good news for consumers.” Let's hope so.

Stocks

$400 Billion Gone in a Flash

From Wall Street King to a Major Market Dip in Just Hours

It was just last week where we discussed the fact that Nvidia had become the top dog of Wall Street and the most valuable company in the world. Now? They just dropped over $400 billion from their market capitalization. Ahh, the difference a few hours can make.

On Thursday, Nvidia hit a high of $140.76 per share. But by Friday, that dropped to $124.30 per share, which shaved off $405 billion in just 10 hours of trading! What a day.

That money lost is greater than the total value of stocks like: Qualcomm, Adobe, Pepsi, T-Mobile, Wells Fargo and others.

A company the size of Nvidia had never experienced a run like they were on (prior to Friday at least) before. At some point, you’d have to expect the other shoe to drop. Even if it’s just temporarily, or minor. Especially when a stock hits the irrational levels that Nvidia was reaching. 

Peaks and valleys in stocks are normal and to be expected. It does not suggest jumping ship on Nvidia, as their future outlook should remain the same. Nothing has happened in the last week to suggest fading AI and its future, which is Nvidia’s main area of expertise. 

Furthermore, 24/7 Wall Street has projected Nvidia to hit $150 by the end of summer, a level that is still very much attainable. It’s like water finding its level. Nvidia might have peaked a little too high, then suffered quite the setback last week, but will now settle somewhere in the middle.

Sports

Game Seven Magic: Oilers Chase Stanley Cup History

Edmonton Rallies from 3-0 Deficit to Set Up Epic Finale

They say the two greatest words in sports are: game seven (some might say Super Bowl? But that’s besides the point). So buckle up, because we’ve got a game seven tonight to decide the Stanley Cup Finals!

Miraculously, after falling behind 3-0, the Edmonton Oilers have now forced this game seven with three straight wins. After scoring just four total goals in the first three games, the Oilers have rallied for victories of 8-1 and 5-1. They’ve gone from dormant to dominant.

And in doing so, the Oilers are just the second NHL team to force a game seven after falling behind 3-0 in the Stanley Cup Finals. They join the 1942 Toronto Maple Leafs, which seems fitting, as Canada is attempting to end their three decade Stanley Cup dry spell. 

Much like the 2004 Red Sox, when they broke the curse. They had to make things even more special. Overcome even more to finally win the title. The 86 year drought apparently wasn’t enough, as the Sox also had to add a 3-0 deficit to their hated rivals, the New York Yankees, on the way to a shocking World Series title that year. 

Canada has had to wait so long, and Oilers fans even longer, and now it might also include a historic 3-0 deficit comeback? Just when you thought you were out, they have pulled you back in, hockey fans!

And to add on to the mystique, the Oilers were even in last place in the league early on in the season. Can they finish it off tonight? We’ll just have to wait and see.

By the way, let us also acknowledge that: NHL game 7 unders are 63% (44-26-9) since 2005, which includes 3-0 this year. And dating back to 1950, 14 straight Stanley Cup Final game 7’s have stayed under 5.5 goals scored (the total for tonight). We’ll see just how many goals are scored tonight.

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