Here’s the deal: Federal regulators simply introduced that Musk’s personal house tourism corporate, SpaceX, will not obtain just about $900 million in subsidies that it used to be awarded ultimate yr for the reason that corporate “failed to demonstrate that [it] could deliver” the web carrier it promised.
Let’s rewind for a minute.
SpaceX did not reply to a request to remark, as is normally the case at firms run through Musk.
Part of Elon Musk’s complete idiosyncratic-visionary-mega-billionaire personality (whether or not you consider in it or now not) is that he runs more than one firms with lofty ambitions — like colonizing Mars, in SpaceX’s case.
Even for those who to find his antics — the overpromising, the troll-y tweets, the reckless company raiding, naming one in all his youngsters X Æ A-12 — off-putting, you continue to kinda have to comprehend the audacity.
But it now turns out like Musk’s unhealthy conduct would possibly in the end be catching as much as him.
In contemporary days, Musk bought just about $7 billion value of Tesla stocks simply in case he loses his criminal struggle with Twitter and is compelled to shop for the corporate, which he not needs. At the similar time, California officers have filed a criticism alleging that Tesla lied in ads about its Autopilot and Full Self Driving generation (which, regardless of their names, aren’t absolutely independent).
“Yeah, actually not good.”
We may say the similar for Musk proper about now.
NUMBER OF THE DAY: 8.5%
The inflation headline of the day used to be a little rosier than anticipated, as the yearly client value index studying for July got here in at 8.5% — a lot slower than June’s 9.1%, however nonetheless traditionally prime.
So, that is excellent information and we will have to all take a second to savor it. More excellent information: Overall costs did not upward push in any respect between June and July. The ultimate month costs did not upward push used to be November 2020.
It’s now not all excellent information, regardless that. Prices did not upward push for one reason why, and one reason why handiest: Energy prices, which might be notoriously unstable, have tumbled. If you strip the ones out, costs rose in almost each and every different class.
Bottom line: July’s file signifies the Fed’s charge hikes is probably not having their desired impact. High power costs most likely introduced themselves down as call for started to dry up.
THE ITALIAN JOB
Imagine being within the room when anyone at Domino’s, probably the most aggressively mediocre pizza purveyor on the earth, pitched the speculation of having into the Italian marketplace.
See what we will do is, we will take our objectively inferior American pies and we will promote them to the very individuals who invented pizza and for whom meals isn’t just a supply of nationwide delight but additionally, like, the basic underpinning of Italian cultural id…
That’s loopy, the boss replies. So loopy it simply would possibly paintings…
Spoiler alert: It did not.
After seven years seeking to make it in Italy, Domino’s has officially close all of its places, in step with Italian media.
Domino’s had large plans when made the plunge into the Italian marketplace in 2015, signing a 10-year franchising take care of a Milan-based corporate referred to as ePizza. Together, they deliberate to introduce a large-scale pizza supply carrier to the rustic, which did not actually exist on the time.
It wasn’t a direct crisis. By the beginning of 2020, ePizza used to be managing 23 shops in Italy and 6 extra via a sub-franchise spouse.
But it seems Italians most popular, um, Italian pizza to the American sort, with its distinctively American toppings, like pineapple.
Who can have guessed? (Apart from, like, everybody?)
Although some would possibly characteristic Domino’s failure to its brazen try to infiltrate pizza’s native land, ePizza blamed its loss of life on pageant from meals supply apps.
EPizza filed for chapter in April, after it struggled to make sufficient gross sales all the way through two years of pandemic restrictions amid “unprecedented competition” from native eating places.