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massive may

Elon Musk’s SpaceX launched nearly 400 Starlink satellites in May

The company has plans for as many as 42,000 satellites in its mega-constellation.

6/2/25 11:06AM

When Tesla’s Elon Musk founded SpaceX in 2002, he was looking to work toward eventually building a sustainable human settlement on Mars.

Fast-forward 23 years and no one is living on the rusty red planet, but SpaceX has become the world’s largest internet satellite company, launching another 398 Starlink satellites in a “massive May” for the company.

That’s a record month for SpaceX, coming hot off the heels of a public rocket explosion, and it takes the total deployed to more than 8,800, some 7,600 of which are still actively whizzing around Earth, per data from satellite tracker Jonathan McDowell. The SpaceX tally is also roughly 40% of all satellites launched since Sputnik, the first artificial satellite, was fired into orbit all the way back in 1957.

Unlike most communications satellites, which are typically larger, Starlink’s low-orbit satellites zip around Earth at relatively low altitudes — allowing faster transmissions between satellites and terminals. As SpaceX has grown its unique constellation, it’s enabled service coverage even in areas where traditional internet has been limited, like Ukraine’s battlefields or areas hit by natural disasters.

Unsurprisingly, that offering has become a core part of SpaceX’s commercial value, with Musk noting that “Starlink internet is what is being used to pay for humanity going to Mars,” in a recent update to employees at SpaceX’s Starship facility.

Now serving more than 5 million customers, Starlink’s revenues are estimated to have reached some $6.6 billion in 2024. That figure is expected to rise rapidly in the coming decade — a key underpinning of why the company has an eye-watering $350 billion valuation despite (literally) burning billions of dollars by launching rockets into space.

Max Knoblauch6/8/26

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Claire Yubin Oh

vsxy

6/4/26

How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

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