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After a 2.5-year delay, Boeing's Starliner spacecraft completed a crewless mission to the International Space Station (ISS).
The Point: It’s been a bumpy ride. Boeing’s been working on the project since it signed a $4.2 billion contract with NASA in 2014. But the aerospace giant failed on its first two attempts to complete a crewless mission to the ISS. Adding salt to the wound, NASA's other contractor on the project, SpaceX, has already delivered astronauts to the space station. Starliner was always a bit of a vanity project for Boeing. But until now, it's only added to the company’s woes.
Target's CEO said the retailer is struggling to adapt to changing consumer spending habits.
The Point: Last week, we talked about how Walmart and Target failed to meet Wall Street's quarterly profit expectations. In that edition of Domain Daily, we discussed lingering supply chain issues as the root cause. No doubt, that's true. But, Target CEO Brian Cornell raised another concern on the company's earnings call. According to Cornell, the problem isn't just getting products onto the shelves. It's also figuring out what to stock. The CEO said that consumer shopping habits changed so drastically because of the pandemic that Target hasn't been able to keep up. The lesson here is that even the biggest companies are struggling to understand the chain of events set off by the pandemic.It’s easy to blame inflation for retailers' recent struggles. However, it’s a much more complex story. Working from home has changed consumer spending habits. At the same time, because supply chains are still on the mend, retailers have to plan ahead further than was previously typical. That’s a recipe for disaster. If retailers can't get their finger on the pulse, the products consumers want won't make their way into stores. Until they do, we'll all pay the price.
Sunday marked the 12th anniversary of "Bitcoin Pizza Day." On May 22nd, 2010, Laszlo Hanyecz paid 10,000 bitcoins for two pizzas. It was the first time someone used bitcoin to buy a real-world good.
The Point: It’s easy to poke fun at Hanyecz's decision with the benefit of hindsight – at $30,000 per Bitcoin today, those two pizzas cost the Florida computer programmer $300 million. For some, Bitcoin Pizza Day is a reminder to HODL (that is, to buy and never part with your bitcoin). Others use it to point out that the cryptocurrency has been a medium of exchange for more than a decade. It is also a reminder of volatility. So laugh at Hanyecz if you'd like, but bitcoin wouldn't be where it is today without him and his pizzas.
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