Hi everyone – welcome to your 3 Shifts Edition [AI-generated audio version].

First, rocket companies are going mobile. Rocket Lab’s $8B deal for Iridium turns a launch company into a global satellite telecom operator, with spectrum, subscribers, government contracts, and real recurring revenue. This could be a “defining moment for the space industry” but not necessarily in the way that Rocket Lab means it.

Next, OpenAI’s chip tape-out in just 9 months shows just how fast custom AI chips can be designed when you’re using AI. Jalapeño – OpenAI’s first custom chip, co-developed with Broadcom – could drive down hardware costs by 20-30%, although it still has to prove itself in production.

Finally, investors are gaining interest in back catalogs of books. Books are starting to look more like music and film/TV libraries, where proven IP can be re-marketed, re-packaged, and licensed into new formats. And AI is making it even easier to squeeze new value out of old content.

Enjoy.

– Tam

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