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Geekz Snow 2019-08-10

CEO Dara Khosrowshahi complained that people are still asking, "can Uber ever be profitable?"

Uber didn't "lose" $5.2 billion in Q2, as the headlines suggested.

Uber's cash on hand went up to $11.7 billion.

The company makes money hand over fist.

It added to the impression that Uber is simply burning cash, subsidising cheap taxi rides to grab market share, with no real idea of how to turn itself into a sustainable, profitable business.

"I think that there's a meme around which is, can Uber ever be profitable?

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Geekz Snow 2019-08-10
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Uber is freezing hiring for software engineers and product managers across its US and Canadian workforce, the company acknowledged to Bloomberg on Friday.

The shift was reported by Yahoo earlier in the day.

The freeze does not apply to Uber's autonomous vehicle and freight shipping divisions.

The news comes a day after Uber reported second quarter operating losses of $5.4 billion—a new record for the company.

That figure exaggerates Uber's quarterly burn rate because it includes more than $4 billion in one-time charges related to Uber's initial public offering.

Still, excluding IPO-related charges still leaves around $1.2 billion in operating losses, worse than the $1 billion the firm lost in the first quarter.

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Geekz Snow 2019-08-09
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Following Fiat Chrysler Automobiles' swift move to count Tesla vehicles as part of its vehicle fleet in the European Union, FCA CEO Mike Manley believes the company will not face any fines this year or in 2020.

Automotive News Europe reported Wednesday on Manley's comments during a conference call about FCA's second-quarter financial results.

The Tesla deal saw FCA pay an incredibly large sum of money to stay compliant with the most recent EU emissions regulations.

Manley also said the automaker will avoid future fines as it introduces more electrified models and new internal-combustion engines that are more fuel-efficient.

Specifically, he was referring to mild-hybrid versions of the Fiat 500 and Jeep Renegade on the horizon, along with PHEV variants of the Renegade, Wrangler and Compass.

Combined, Manley said the company expects the electrified vehicles to make up 5% of the automaker's sales mix in Europe.

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Geekz Snow 2019-08-09

Today, Chinese manufacturing giant, Huawei, commenced its annual developer conference.

We already knew that Huawei has its own OS and we have heard names like HongMeng OS, Ark OS, Oak OS, etc.

However, when the company announced the system, it came with the name “Harmony OS”.

Speculations did not capture this name and Huawei’s CEO has explained the reason behind the name.

“HongMeng’s meaning in Chinese is something close to “opening the earth”.

The closest English word is Genesis which loosely mean “beginning”.

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Geekz Snow 2019-08-09

On stage at the Huawei Developer Conference (HDC 2019) in Dongguan, Huawei’s CEO Richard Yu confirmed that tomorrow (August 10) the world should expect an Honor TV announcement.

Having just announced Huawei’s new cross-device operating system, HarmonyOS, a potential alternative to Android down the line, and a smart device OS in the meantime, Yu revealed that the Honor TV will be the first device/service to run it.

This isn’t the first time we’ve heard murmurs of Honor launching a TV.

In July, Honor lifted the lid on its Honghu 818, a television chipset.

This octa-core processor is clearly more capable than your average TV engine.

With support for Motion Estimation/Compensation, HDR, Super Resolution, Noise Reduction, Dynamic Contrast Improvement, Auto Color Management and Local Dimming, it’s clearly smart, and if it’s anything like the products Honor has launched in the smartphone world, it will be competitively priced.

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Geekz Snow 2019-08-09
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Dara Khosrowshahi told CNBC that the company wasn't interested in buying out US competitors and instead wanted to grow Uber Eats organically.

Visit Business Insider's homepage for more stories.

Uber considered buying its couriering competitor Caviar this summer but ultimately passed on the deal, CEO Dara Khosrowshahi told CNBC on Friday morning.

Caviar was eventually sold by its owner, Square, to DoorDash in a $410 million cash-and-stock deal.

"You can expect us to look at every single deal out there in the marketplace," Khosrowshahi told David Faber and Jim Cramer minutes before Friday's opening bell, as Uber investors braced for a more than 8% decline following the company's disastrous earnings report the afternoon prior.

Read more: Uber Eats has massive competition after 2 rivals agreed on a $10 billion deal to become one of the world's biggest food-delivery companies

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Geekz Snow 2019-08-09
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Vector, a micro-launch company founded in 2016 to build small rockets for payloads of up to 60kg, may be in financial trouble, multiple industry sources told Ars on Friday.

However, she did confirm the company has parted ways with its chief executive: "Jim Cantrell is no longer with Vector effective today.

The company has been working on developing its Vector-R vehicle and trying to prepare it for a suborbital flight this summer.

In an interview in April, Cantrell told Ars that he hoped to fly an upgraded version, Vector-R B1003, on an orbital flight from the Pacific Spaceport Complex in Alaska before the end of this year.

Cantrell brought venture capital experience when he joined with veteran rocket scientist John Garvey in 2016 to found Vector.

The Garvey Spacecraft Corporation had been working on prototypes for a small launcher, and together Cantrell and Garvey decided to found the new company to bring the rocket through its development phase and commercialize it.

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Geekz Snow 2019-08-09
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Squarespace CEO Anthony Casalena bought $42 million worth of property in the Hamptons, according to The Wall Street Journal.

The three properties in Montauk, New York combined are over six acres and include two houses and one guest house, the Journal reports.

Casalena's is reportedly the second-largest residential purchase in Montauk, behind the 2015 purchase of Andy Warhol's former estate for $50 million.

Visit Business Insider's homepage for more stories.

Squarespace founder and CEO Anthony Casalena purchased three waterfront properties totaling over 6 acres in the Hamptons worth $42 billion, The Wall Street Journal reports.

The first property, purchased in 2018 for $22.8 million, includes a 5,000 square-foot, six-bedroom house, according to the report.

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Geekz Snow 2019-08-09
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Microsoft CEO Satya Nadella didn’t say anything significant at Samsung’s Galaxy Unpacked this week.

The CEO of a $1 trillion company showing up to your event is enough to make a statement.

And the statement is that Microsoft and Samsung are strengthening their partnership in a variety of areas, including to bring Android and Windows closer.

Before Nadella hit the stage, Shilpa Ranganathan, general manager of Microsoft’s mobile experiences group, video-conferenced in to show off some of the integrations.

That’s certainly noteworthy, but nowhere near as useful as the existing functionality — letting you access your text messages, photos, and notifications right on your PC.

Your Phone is still limited to select phones running Android 7.0 or greater.

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Geekz Snow 2019-08-09
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Broadcom has swallowed Symantec for a bargain-bin price of $10.7bn (ÂŁ8.82bn) in cash, boosting the chip maker's enterprise security clout.

Word of Broadcom's intentions first surfaced in early July as the firm sought to broaden its software portfolio.

The deal looked good to go for $15.5bn until negotiations faltered when Symantec insisted on nothing less than $28 a share – which turned out to be too dear for Broadcom after due dil.

Symantec's stock price immediately plummeted while Broadcom was rewarded with a small uptick, reflecting Symantec's "damaged goods" reputation with the market.

But it appears the pair have buried the hatchet, yesterday announcing an agreement with almost $5bn knocked off the original price.

Broadcom reckons the deal is the next logical step following its purchase of Brocade and CA in 2017 and 2018 as it moves to a broader infrastructure technology role rather than processors, network controllers and Wi-Fi chips.

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Geekz Snow 2019-08-09

Today, Chinese manufacturing giant, Huawei, commenced its annual developer conference.

We already knew that Huawei has its own OS and we have heard names like HongMeng OS, Ark OS, Oak OS, etc.

However, when the company announced the system, it came with the name “Harmony OS”.

Speculations did not capture this name and Huawei’s CEO has explained the reason behind the name.

“HongMeng’s meaning in Chinese is something close to “opening the earth”.

The closest English word is Genesis which loosely mean “beginning”.

Geekz Snow 2019-08-09

On stage at the Huawei Developer Conference (HDC 2019) in Dongguan, Huawei’s CEO Richard Yu confirmed that tomorrow (August 10) the world should expect an Honor TV announcement.

Having just announced Huawei’s new cross-device operating system, HarmonyOS, a potential alternative to Android down the line, and a smart device OS in the meantime, Yu revealed that the Honor TV will be the first device/service to run it.

This isn’t the first time we’ve heard murmurs of Honor launching a TV.

In July, Honor lifted the lid on its Honghu 818, a television chipset.

This octa-core processor is clearly more capable than your average TV engine.

With support for Motion Estimation/Compensation, HDR, Super Resolution, Noise Reduction, Dynamic Contrast Improvement, Auto Color Management and Local Dimming, it’s clearly smart, and if it’s anything like the products Honor has launched in the smartphone world, it will be competitively priced.

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Geekz Snow 2019-08-09
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Huawei kicked off its annual developer conference today, and it’s just announced HarmonyOS.

The new, open-source platform is ostensibly the final name for its Hongmeng OS.

HarmonyOS is “the first microkernel-based distributed OS for all scenarios,” consumer group CEO Richard Yu told attendees at the Huawei Developer Conference.

The new platform supports smartphones, smart speakers, computers, smartwatches, wireless earbuds, cars, and tablets.

In fact, Yu says the platform supports RAM sizes ranging from kilobytes to gigabytes.

Read: China plans to fight back if India blocks Huawei

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Geekz Snow 2019-08-09
img

(Reuters) — Chipmaker Broadcom said on Thursday it will buy antivirus software maker Symantec’s enterprise security unit for $10.7 billion in cash to scale up its software business through deals.

Shares of Symantec rose 3.6% and Broadcom 2% in extended trading.

Broadcom last year bought U.S. business software maker CA for $18.9 billion and was reportedly in talks to buy infrastructure software company Tibco, which was taken private by Vista Equity Partners for $4.3 billion in 2014.

Its push to software came after a failed attempt last year to buy mobile chipmaker Qualcomm Inc for $117 billion, which was scuttled by the Trump administration, citing national security.

“M has played a central role in Broadcom’s growth strategy and this transaction represents the next logical step in our strategy,” Broadcom Chief Executive Officer Hock Tan said.

Through a string of acquisitions, Tan has propelled the chipmaker that was worth just a few billions to a market capitalization of about $108 billion in the 13 years that he has been at the helm.

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Geekz Snow 2019-08-09
img

The days of cheap ride-hailing may be ending.

Uber and Lyft reported quarterly financial results this week and indicated that their cutthroat competition to woo riders with coupons and other gambits is easing.

Lyft officials told investors they had raised prices on routes in some cities in June, and touted the company’s upcoming pricing algorithms, which they hinted might be able to more precisely predict what riders might be willing to pay for a ride.

Uber CEO Dara Khosrowshahi said that his company’s rivalry with the other big San Francisco-based ride-hailing company had cooled—for now.

“We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing generally, category positions that are stable,” he told investors Thursday.

“We are focused on improving profitability in this market.”

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Geekz Snow 2019-08-08
img

The executive in charge of Google's Pixel smartphone division — Mario Queiroz — is moving to another role, working in "the office of the CEO".

Queiroz's move to work alongside Google CEO Sundar Pichai comes at a surprising time, as the highly anticipated Pixel 4 is expected to launch this fall.

Queiroz, who joined Google in 2005, has been involved in Google's hardware efforts for years.

Visit Business Insider's homepage for more stories.

Just months ahead of the expected launch of its fourth-generation device, the person in charge of Google's Pixel smartphone division— Mario Queiroz — is reportedly leaving for another role internally at the tech giant.

The news came from an Axios report Thursday which said Queiroz — Pixel's top boss, who reported directly to Hardware VP Rick Osterloh — would be leaving his current post to "work in the office of CEO Sundar Pichai."

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Geekz Snow 2019-08-08
img

Apple CEO Tim Cook, 58, leads the first company in the world to become worth $1 trillion.

But he actually is a lot less wealthy than leaders of other, less revenue-generating corporations.

Cook, who is the son of a shipyard worker and a pharmacy employee, said he's not motivated by money, and that shows through in what we know about the private CEO's habits.

Cook's actual net worth is certainly even higher than that — but information on his property, investment portfolio, and cash on hand isn't publicly available.

Jeff Bezos, Bill Gates, Mark Zuckerberg, and Larry Page are all worth tens of billions.

Sources: Apple regulatory filings from 2018 and 2012

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Geekz Snow 2019-08-08
img

WeWork is reportedly working on a weird corporate structure for its upcoming IPO that would give massive tax benefits to early insiders, but not to those who buy in later.

According to the Financial Times, the new structure means CEO Adam Neumann and other insiders will pay an individual income tax rate.

Anyone buying shares in the IPO will be taxed at a corporate and individual level.

The move follows some other curious manoeuvres by WeWork, namely Neumann selling his shares and borrowing against his remaining holdings to the tune of $700 million.

Visit Business Insider's homepage for more stories.

WeWork has created a weird corporate structure ahead of its public float which will unlock massive tax benefits for its CEO and early insiders, but won't necessarily benefit shareholders buying in at the IPO.

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Geekz Snow 2019-08-08
img

One year ago Samsung unveiled the mammoth Galaxy Home alongside the Note 9 at Unpacked 2018.

The device was pegged to be Samsung's challenger to other smart speakers in market such as the Google Home, Amazon Echo and Apple HomePod.

12 months later and it's still nowhere to be seen.

We didn't know much about the Galaxy Home, but it was partnering with Spotify and was said to include AKG, full-range speakers and a subwoofer.

It was also supposed to include SoundSteer, which would allow the speaker to optimise the sound and direct it wherever you were in a room.

While the Galaxy Home never received a hard release date, Samsung CEO DJ Koh comfirmed with CNET that it would be arriving in April 2019.

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Geekz Snow 2019-08-08

The space race is back on, but this time it’s closer to home: A number of U.S. companies are vying to become the first to return Americans to crewed launches, after an eight-year hiatus marked by the end of the Space Shuttle program in 2011.

Lockheed Martin is one of that very small group, through its partnership with Boeing on the United Launch Alliance, and through its development of the Orion crew capsule, which ticked off an important checkbox in July when it was confirmed complete and ready for mission prep.

Lockheed Martin is at the center of it all, no matter which way you slice it, and that’s why it’s great news that CEO Marillyn Hewson will join us at TechCrunch Disrupt SF 2019 in San Francisco to talk all about her company’s work with NASA, their progress on bringing back America’s crewed launch capabilities and their designs on the Moon and beyond.

Even after Orion flies with astronauts aboard for the first time, which is currently set to happen sometime next year, Lockheed Martin has yet more ambitious plans — including developing an “early Gateway” to precede the full-scale Lunar Orbital Platform-Gateway that NASA aims to install orbiting the Moon to provide a more permanent base of operations for long-term lunar operations.

Lockheed Martin has been in the space business since the 1950s, but private and commercial interest in space has changed a lot in the ensuing years.

We’ll talk about what the growing commercial interest in low Earth orbit and beyond, and the increasing number of launch and service providers, means for Lockheed and its evolution.

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Geekz Snow 2019-08-08
img

The U.K.’s National Health Service (NHS) today announced it’ll reroute £250 million ($302.86 million) in funds to create a new Artificial Intelligence Lab within a unit tasked with digitizing the country’s health care system, which it says will work to bring together academics, specialists, and tech companies to tackle “some of the biggest challenges in health and care.”

“We are on the cusp of a huge health tech revolution that could transform [the] patient experience by making the NHS a truly predictive, preventive and personalized health and care service,” wrote Health Secretary Matt Hancock.

“It’s part of our mission to make the NHS the best it can be.

The experts tell us that because of our NHS and our tech talent, the UK could be the world leader in these advances in healthcare, so I’m determined to give the NHS the chance to be the world leader in saving lives through [AI] and genomics.”

The NHS expects the AI Lab’s work will enhance cancer screenings by expediting mammograms, brain scans, eye scans, and heart monitoring, and that it’ll enable clinicians to better estimate drug, device, and surgical needs on the fly.

Moreover, it says that the machine learning models it develops might help to identify which patients could be more easily treated in the community, and to identify those most at risk of post-operative complications or infections and diseases such as heart disease or dementia.

collect
0
Geekz Snow 2019-08-09
img

Huawei kicked off its annual developer conference today, and it’s just announced HarmonyOS.

The new, open-source platform is ostensibly the final name for its Hongmeng OS.

HarmonyOS is “the first microkernel-based distributed OS for all scenarios,” consumer group CEO Richard Yu told attendees at the Huawei Developer Conference.

The new platform supports smartphones, smart speakers, computers, smartwatches, wireless earbuds, cars, and tablets.

In fact, Yu says the platform supports RAM sizes ranging from kilobytes to gigabytes.

Read: China plans to fight back if India blocks Huawei

Geekz Snow 2019-08-09
img

The days of cheap ride-hailing may be ending.

Uber and Lyft reported quarterly financial results this week and indicated that their cutthroat competition to woo riders with coupons and other gambits is easing.

Lyft officials told investors they had raised prices on routes in some cities in June, and touted the company’s upcoming pricing algorithms, which they hinted might be able to more precisely predict what riders might be willing to pay for a ride.

Uber CEO Dara Khosrowshahi said that his company’s rivalry with the other big San Francisco-based ride-hailing company had cooled—for now.

“We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing generally, category positions that are stable,” he told investors Thursday.

“We are focused on improving profitability in this market.”

Geekz Snow 2019-08-08
img

Apple CEO Tim Cook, 58, leads the first company in the world to become worth $1 trillion.

But he actually is a lot less wealthy than leaders of other, less revenue-generating corporations.

Cook, who is the son of a shipyard worker and a pharmacy employee, said he's not motivated by money, and that shows through in what we know about the private CEO's habits.

Cook's actual net worth is certainly even higher than that — but information on his property, investment portfolio, and cash on hand isn't publicly available.

Jeff Bezos, Bill Gates, Mark Zuckerberg, and Larry Page are all worth tens of billions.

Sources: Apple regulatory filings from 2018 and 2012

Geekz Snow 2019-08-08
img

One year ago Samsung unveiled the mammoth Galaxy Home alongside the Note 9 at Unpacked 2018.

The device was pegged to be Samsung's challenger to other smart speakers in market such as the Google Home, Amazon Echo and Apple HomePod.

12 months later and it's still nowhere to be seen.

We didn't know much about the Galaxy Home, but it was partnering with Spotify and was said to include AKG, full-range speakers and a subwoofer.

It was also supposed to include SoundSteer, which would allow the speaker to optimise the sound and direct it wherever you were in a room.

While the Galaxy Home never received a hard release date, Samsung CEO DJ Koh comfirmed with CNET that it would be arriving in April 2019.

Geekz Snow 2019-08-08
img

The U.K.’s National Health Service (NHS) today announced it’ll reroute £250 million ($302.86 million) in funds to create a new Artificial Intelligence Lab within a unit tasked with digitizing the country’s health care system, which it says will work to bring together academics, specialists, and tech companies to tackle “some of the biggest challenges in health and care.”

“We are on the cusp of a huge health tech revolution that could transform [the] patient experience by making the NHS a truly predictive, preventive and personalized health and care service,” wrote Health Secretary Matt Hancock.

“It’s part of our mission to make the NHS the best it can be.

The experts tell us that because of our NHS and our tech talent, the UK could be the world leader in these advances in healthcare, so I’m determined to give the NHS the chance to be the world leader in saving lives through [AI] and genomics.”

The NHS expects the AI Lab’s work will enhance cancer screenings by expediting mammograms, brain scans, eye scans, and heart monitoring, and that it’ll enable clinicians to better estimate drug, device, and surgical needs on the fly.

Moreover, it says that the machine learning models it develops might help to identify which patients could be more easily treated in the community, and to identify those most at risk of post-operative complications or infections and diseases such as heart disease or dementia.

Geekz Snow 2019-08-09
img

(Reuters) — Chipmaker Broadcom said on Thursday it will buy antivirus software maker Symantec’s enterprise security unit for $10.7 billion in cash to scale up its software business through deals.

Shares of Symantec rose 3.6% and Broadcom 2% in extended trading.

Broadcom last year bought U.S. business software maker CA for $18.9 billion and was reportedly in talks to buy infrastructure software company Tibco, which was taken private by Vista Equity Partners for $4.3 billion in 2014.

Its push to software came after a failed attempt last year to buy mobile chipmaker Qualcomm Inc for $117 billion, which was scuttled by the Trump administration, citing national security.

“M has played a central role in Broadcom’s growth strategy and this transaction represents the next logical step in our strategy,” Broadcom Chief Executive Officer Hock Tan said.

Through a string of acquisitions, Tan has propelled the chipmaker that was worth just a few billions to a market capitalization of about $108 billion in the 13 years that he has been at the helm.

Geekz Snow 2019-08-08
img

The executive in charge of Google's Pixel smartphone division — Mario Queiroz — is moving to another role, working in "the office of the CEO".

Queiroz's move to work alongside Google CEO Sundar Pichai comes at a surprising time, as the highly anticipated Pixel 4 is expected to launch this fall.

Queiroz, who joined Google in 2005, has been involved in Google's hardware efforts for years.

Visit Business Insider's homepage for more stories.

Just months ahead of the expected launch of its fourth-generation device, the person in charge of Google's Pixel smartphone division— Mario Queiroz — is reportedly leaving for another role internally at the tech giant.

The news came from an Axios report Thursday which said Queiroz — Pixel's top boss, who reported directly to Hardware VP Rick Osterloh — would be leaving his current post to "work in the office of CEO Sundar Pichai."

Geekz Snow 2019-08-08
img

WeWork is reportedly working on a weird corporate structure for its upcoming IPO that would give massive tax benefits to early insiders, but not to those who buy in later.

According to the Financial Times, the new structure means CEO Adam Neumann and other insiders will pay an individual income tax rate.

Anyone buying shares in the IPO will be taxed at a corporate and individual level.

The move follows some other curious manoeuvres by WeWork, namely Neumann selling his shares and borrowing against his remaining holdings to the tune of $700 million.

Visit Business Insider's homepage for more stories.

WeWork has created a weird corporate structure ahead of its public float which will unlock massive tax benefits for its CEO and early insiders, but won't necessarily benefit shareholders buying in at the IPO.

Geekz Snow 2019-08-08

The space race is back on, but this time it’s closer to home: A number of U.S. companies are vying to become the first to return Americans to crewed launches, after an eight-year hiatus marked by the end of the Space Shuttle program in 2011.

Lockheed Martin is one of that very small group, through its partnership with Boeing on the United Launch Alliance, and through its development of the Orion crew capsule, which ticked off an important checkbox in July when it was confirmed complete and ready for mission prep.

Lockheed Martin is at the center of it all, no matter which way you slice it, and that’s why it’s great news that CEO Marillyn Hewson will join us at TechCrunch Disrupt SF 2019 in San Francisco to talk all about her company’s work with NASA, their progress on bringing back America’s crewed launch capabilities and their designs on the Moon and beyond.

Even after Orion flies with astronauts aboard for the first time, which is currently set to happen sometime next year, Lockheed Martin has yet more ambitious plans — including developing an “early Gateway” to precede the full-scale Lunar Orbital Platform-Gateway that NASA aims to install orbiting the Moon to provide a more permanent base of operations for long-term lunar operations.

Lockheed Martin has been in the space business since the 1950s, but private and commercial interest in space has changed a lot in the ensuing years.

We’ll talk about what the growing commercial interest in low Earth orbit and beyond, and the increasing number of launch and service providers, means for Lockheed and its evolution.