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Space Technology

Baiju Bhatt's Aetherflux Aims to Revolutionize Energy with Space-Based Solar Power

Baiju Bhatt, former CCO of Robinhood, has founded Aetherflux, a space company focused on beaming solar power from space. The company has raised $60 million and aims to launch a demonstration satellite next year. Aetherflux's approach involves using fiber lasers to convert solar power into focused light targeted at ground receivers. The initial focus is on national defense, with the Department of Defense funding the program for military applications. Bhatt envisions space-based solar power providing baseload renewable energy and has hired experts from various fields. The project has an aggressive timeline, with a demonstration satellite launch planned for next year.

Space Technology

Baiju Bhatt's Aetherflux: From Trading App to Space-Based Solar Power Revolution

Baiju Bhatt, co-founder of Robinhood, has launched Aetherflux, a space company focused on beaming solar power from space. Aetherflux has raised $60 million to develop technology using fiber lasers to convert solar power into focused light, targeting receivers on the ground. The initial focus is on national defense, with the Department of Defense funding the program to provide energy to forward bases without fuel transport. Aetherflux aims to launch a demonstration satellite next year, with plans to expand into industrial-scale renewable energy.

Bhatt's inspiration comes from his father's work at NASA and Elon Musk's multi-industry success. Aetherflux is taking a "hardware-rich" approach, building and testing components while refining designs. The company aims to provide baseload renewable energy and emergency power, potentially revolutionizing energy distribution. Aetherflux is collaborating with DARPA and aims to leverage SpaceX's Starship for commercial space access.

Technology

Aetherflux: Robinhood Co-founder's Bold Leap to Revolutionize Energy with Space-Based Solar Power

Baiju Bhatt, co-founder of Robinhood, has launched Aetherflux, a space company focused on beaming solar power from space using fiber lasers. The company has raised $60 million and aims to launch a demonstration satellite next year. Initially targeting national defense, with the Department of Defense funding the program for battlefield energy solutions, Aetherflux envisions broader applications, potentially revolutionizing energy distribution and providing renewable energy globally. Bhatt draws inspiration from Elon Musk and emphasizes the advantage of an outsider perspective. The company is hiring physicists, mathematicians, and engineers to tackle the challenges of space hardware development and testing.

Energy Technology

Fusion Energy Race: Startups Vie for Nuclear Power Domination

Several fusion power startups are making significant strides towards harnessing nuclear fusion for energy generation. Advances in computer chips, AI, and superconducting magnets have bolstered reactor designs and simulations.

Key players include:

  • Commonwealth Fusion Systems: Aiming to produce power at commercially relevant levels with its Sparc power plant.
  • TAE Technologies: Using a field-reversed configuration and particle beams to stabilize plasma for fusion.
  • Helion: Plans to produce electricity by 2028, with Microsoft as its first customer.
  • Pacific Fusion: Using coordinated electromagnetic pulses to achieve fusion.
  • Shine Technologies: Focusing on neutron testing and medical isotopes, while developing skills for future fusion reactors.
  • General Fusion: Pursuing magnetized target fusion (MTF) but faced recent financial challenges.
  • Tokamak Energy: Developing a compact tokamak design with high-temperature superconducting magnets.
  • Zap Energy: Using electric currents to generate magnetic fields for plasma compression.
  • Proxima Fusion: Exploring stellarator designs for stable plasma confinement.
  • Marvel Fusion: Using lasers to compress fuel with silicon nanostructures.
  • Xcimer: Redesigning laser technology for a more powerful fusion system.

These startups are backed by investors and are actively developing various approaches to achieve commercially viable fusion power.

Business & Finance

Amazon Boosts India Operations with $233M Investment

Amazon is investing $233 million in its India business to expand its operations infrastructure and develop new delivery tools.
The investment aims to improve processing capacity, fulfillment speed, and overall efficiency in Amazon's India operations.
The funds will also support employee and contractor well-being programs, including rest stops, financial support, scholarships, and healthcare.
Amazon is also developing new software to enhance navigation, safety, and the delivery process for its personnel.

Social Media

JD Vance's Bluesky Account Briefly Suspended Due to Impersonation Detection

U.S. Vice President JD Vance's Bluesky account was briefly suspended upon joining due to an automated system detecting a potential impersonation attempt.

Bluesky quickly restored and verified the account, citing previous impersonation attempts targeting public figures like Vance.

Vance's first post on Bluesky addressed the Supreme Court's decision regarding gender-affirming care for transgender minors.

Finance & Investment

Borderless: Empowering African Diaspora to Invest in Home Startups and Real Estate

Borderless, founded by Joe Kinvi, a former finance head at Touchtech Payments and Stripe employee, facilitates collective investments by the African diaspora in startups and real estate back home. The platform addresses the challenge of channeling remittances into productive assets by providing a secure and compliant infrastructure for diaspora collectives.

Key features include member onboarding, cross-border payment processing, and secure capital deployment. Borderless ensures funds go directly to verified sellers, escrow accounts, or lawyers, with legal and compliance checks embedded in the process.

Having processed over $500,000 in transactions since its beta launch, Borderless currently focuses on startups and real estate, with plans to expand into other asset classes. The platform operates under U.K. regulatory cover and has a waitlist of over 100 communities.

Borderless generates revenue through transaction fees, membership dues, and FX spreads. The company aims to unlock the $30 billion in annual migrant savings often left idle. Backers include DFS Lab, Ezra Olubi (Paystack CTO), and executives from Stripe and Google.

Borderless raised $500,000 in seed funding and aims to provide a secure and scalable investment platform for the African diaspora, enabling them to invest confidently and contribute to their home countries' economies.

Technology

Spotify's Lossless Tier: Hints of Imminent Launch in App Code

Spotify's long-awaited lossless audio tier may be closer to launch, as indicated by new code references found in the app's latest build. These references include help cards informing users about the lossless tier's features and troubleshooting tips. The lossless tier promises high-fidelity music in up to 24-bit/44.1 kHz, but availability may vary depending on the song or device compatibility. While code references don't guarantee an immediate launch, recent label deals could pave the way for the lossless tier.

Artificial Intelligence & Parenting

Sam Altman's AI-Assisted Fatherhood: Navigating Childcare with ChatGPT

OpenAI CEO Sam Altman discusses his use of ChatGPT to assist with childcare, from newborn inquiries to developmental stage questions.

Altman acknowledges the potential risks of relying on AI for parenting advice, particularly for young children, while recognizing the benefits of AI in children's media.

He highlights the need for societal guardrails to address potential issues arising from children's interactions with AI, such as problematic parasocial relationships.

Altman emphasizes the tremendous upsides of AI while acknowledging the importance of mitigating potential downsides.

Business and Startups

Base44's $80M Acquisition: A Vibe-Coding Success Story

Israeli developer Maor Shlomo's vibe-coding startup, Base44, was acquired by Wix for $80 million in cash after just six months of operation.

Base44, a platform that allows non-programmers to build software using text prompts, rapidly grew to 250,000 users and achieved profitability within its first few months.

Shlomo attributed the acquisition to the need for greater resources to scale the company's growth, while Wix gains a fast-growing, profitable vibe-coding platform to enhance its no-code website building offerings.

The startup's success was driven by word-of-mouth marketing and Shlomo's active sharing of his building journey on social media, demonstrating the potential of AI-powered tools in software development.