Rocket launch after rocket launch after rocket launch… that’s kind of what this year has looked like in the space game. But startup Aevum has said “F*ck that noise, we’ve got something better!”
The company has launched a new vehicle design which allows for horizontal take off and landing, the ability to deploy at high altitude, and the strength to handle small payloads while en route to the Moon, or Mars, or wherever.
That tech isn’t so new and the aircraft certainly looks like a lot of other unmanned flight vehicles out there, but the Ravn X (Aevum’s aircraft) is specifically made for rapid response delivery, aka all those satellites we want to send up and past our atmosphere? Ravn X can do it in less than 90 minutes. Plus, it uses regular ole jet fuel (so, not the most environmentally efficient, but economically it fits right in), and it can take off and land in any weather on any typical aircraft runway.
It’s a bird, it’s a plane, it’s a space ship… no, it’s a plane… no, it’s a spaceship…
Okay, jokes aside, what really makes Aevum different is their startup (compared to others in the space launch arena) is they have $1 billion in contracts from the US government, paying customers and all of their launches are based on real info. No hypothetical BS here. The company is pretty set with 20 missions contracted for the next decade.
This is a big deal for the US Department of Defense who have been searching for a way to deploy missions with a super short turnaround like with the Ravn X. Unlike Astra’s small Rocket launcher, which was in the lead to win the DARPA challenge (aka the hunt for speedy launches start to finish), Aevum’s system is 100% compatible with regular airfields and aircraft infrastructure. Plus, no humans are involved… it’s totally un-crewed. Their only competition in that space right now is Virgin Orbit.
Who else do you see “taking off” in the space launch arena? Hit reply and let us know!
The US Banking Model Might Be Flipped Upside Down
Okay, in all seriousness, something like that wouldn’t happen for decades, however, there’s people like Mike Cagney who are pushing back more and more on how we use financial currency as we know it. You’ve probably heard of Cagney from his sexual harassment allegations that made him leave SoFi. That had to be a tough bullet to bite considering he cofounded the company, but leaving didn’t mean he was leaving personal finance.
After his departure, Cagney raised $50 million for his startup called Figure, which has a total of $225 million in funding and a $1.2 billion valuation from 2019. Figure lets users receive mortgage refinancing, home equity, personal loans and student loans using blockchain. The big news with this is they just applied for a US national bank charter so the company could take uninsured deposits over $250,000 as long as the investor was accredited.
Good news? Figure wouldn’t be subjected to oversight from the FDIC. The Bank Holding Company Act also makes it so there wouldn’t be oversight from the Fed. Basically, this could really pave a new path for many, many different fintech startups and retailers that want to offer financial products and not have to deal with the FDIC or the Federal Reserve.
It’s certainly not the model for everyone, but it opens a gateway that hasn’t been there before. Only problem with operating so freely is there isn’t much of a safety net for Figure or their customers.
A lot of bankers (no surprise) aren’t a fan of what Cagney is doing. Do you think this is a viable solution for fintech startups, or people in general? Reply back with your thoughts!
Finally, Boob Jobs Are Affordable
Or any elective medical procedure with the help of PrimaHealth Credit. LASIK, cataract surgery, dental care, orthodontics… you name it, if it’s an elective health procedure, PrimaHealth Credit can help you get it done on a payment plan.
PrimaHealth will offer customers point-of-sale lending services, similar to Klarna and Affirm’s payment flexibility. Honestly, it’s a great idea for people who truly need certain services deemed “elective”, but can’t afford to pay for it upfront.
You’ll still have to pay about 25-50% of the treatment cost upfront, but then repayment can happen with loan up to four months long. The APR ranges from 19.99%-24.99% (ouch), but it at least prevents healthcare providers from taking on patients “out of the goodness of their hearts” (so to speak) when they aren’t approved for an existing payment plan.
The company is an app that gives a potential patient instant credit approval or denial rather than waiting around for a few days. They’ll be available across the US next year, but with such high APR and short repayment time periods, we’re not sure how long they’ll last.
Do you think this service is necessary, or are patients better off getting their own, outside loans? Give us your feedback!