Toby Howell

So just kind of the right product at the right time, powered by the right social media trends, Groons is crushing.

Speaking of Powell.

Not to use modern language, but he has been mogged by Warsh here because when Powell was confirmed in 2018, he was thought to be the wealthiest Fed chair in history with a net worth between $19 million and $75 million.

Warsh is an order of magnitude above that.

Warsh, too, is a pretty influential figure in corporate America historically.

He has board positions at UPS, at Coupang, which is an online retailer.

So he is very well connected in corporate America.

He's made a lot of money over time.

Again, a lot of this would be divested if he is eventually confirmed.

But it was funny to see Powell was the rich guy who became FedShare, and now the person who's replacing him is ever richer.

All right, moving on.

Amazon is stepping into the arena to compete with SpaceX, and the arena is space.

Yesterday, the company announced it's buying the satellite operator GlobalStar in a $10.8 billion deal.

The deal beats up Amazon's Leo satellite venture, which has been trying to chip away at SpaceX's Starlink domination of the skies.

GlobalStar runs a fleet of satellites owning a juicy chunk of the so-called Spectrum Resources, aka the wireless airwaves that beam the internet to your phone.

You likely have been using GlobalStar without even knowing it.

They're the reason your iPhone can send an emergency text if you're out of cell range while hiking in the woods, thanks to a deal they've struck with Apple.

Amazon has a long way to go, though, before it can go toe-to-toe with Elon's operation.

Starlink already has roughly 10,000 satellites in orbits, with 650 dedicated to connecting directly to cell phones.

My recommendation is something called Misogi.