Daily Archives: June 11, 2021

Facebook doesn’t get the joke: satirical cartoon censored as ‘fake news’ – Times of Malta

Posted: June 11, 2021 at 12:08 pm

When Times of Malta cartoonist Professor or Mallia sat down to compose his latest in a series of cartoons about COVID-19, he decided to take aim at the spread of false news online.

His tongue-in-cheek offering depicted an agitated man musing on whether COVID-19 was a scam and questioning his own reality as a comic strip character.

But when he posted it on Facebook on Wednesday, the journalism lecturer was surprised that the cartoon was removed from his page for spreading "false information about COVID-19 that could contribute to physical harm".

Mallia, whose epp cartoons are published twice-weekly on Times of Malta,has been focusing on the pandemic in his 'new normal' series.

He said it was the first time that he had ever had a post banned by Facebook.

My epp strip from today satirises fake news about COVID-19... as it has done in all its 119 strips, but according to Facebook I am the one spreading fake news about COVID-19," he said.If you want to see today's strip you'll need to go to the Times' website to do so."

He said Facebook's fake news algorithm was "ridiculously hopeless" to claim it safeguards the well being of its users, "and yet all the actual fake news gets through!"

After saying he might no longer post his cartoon strip on Facebook, one commenter suggested he post on Twitter instead.

Other satirists have previously fallen foul of the social media giant's community standards, which are supposed to clamp down on misinformation.

The company's artificial intelligence systems and its human moderators have difficulty separating false news from satire and irony.

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Jeff Bezos’ Fake News in the Newspaper He Really Owns – Common Dreams

Posted: at 12:08 pm

Media criticism sometimes involves reading between the lines, assessing the layered meanings of journalistic rhetoric, or considering whats left unsaid in a given conversation. But we shouldnt be numb to all the times media problems hit you like a sock in the jaw.

That was the case when readers opened the Washington Post online recently to find a full page native adthats the kind designed to look like newsfrom Amazon (Jacobin, 5/27/21). Whose owner Jeff Bezos owns the Post and soon MGM (Washington Post, 5/26/21), among much else.

Blended in with the Posts banner and Democracy Dies in Darkness tagline, readers got text about how Amazon supports a raise in the federal minimum wage and has been paying its workers $15 an hour since 2018. A big picture showed an African-American employee and her child talking about how Amazons generosity is allowing them to move to a bigger home.

Never mind that, as many could tell you, the company was dragged kicking and screaming to that wage increase (Jacobin, 10/2/18); that they continue to fund groups that strenuously oppose a $15 minimum wage (Jacobin, 5/27/21), like the US Chamber of Commerce; that they have vigorously and vehemently opposed union organizing (New York Times, 3/16/21)and that no wage can justify the dangerous and degrading conditions Amazon is reported to subject many of its workers to (Intercept, 3/25/21).

Just as it was selling Post readers on the notion that its lifting folks to a better life, Amazon was being cited by OSHA for a rate of serious workplace injuries nearly double that at other employers (CNBC, 6/1/21). A front-page, truthy-looking ad about corporate benevolence is surely designed to deflect from such troubling realities.

It didnt prevent the paper (6/1/21) from reporting on the OSHA findings, though that story contained another kind of weirdness weve come to take for granted: a summary statement that Amazon declined to make any executives available for interviews on its workplace injury data.

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[Newsmaker] Distrust of police and media, and fake news fuel outcry in medical students death – The Korea Herald

Posted: at 12:08 pm

Lee Jin-ah, 43 and the mother of a 13-year-old son, has been following the updates of the death of Sohn Jung-min, a medical student who died in the Han River, every day, through news articles and YouTube videos.

Because I have a son, I am emotionally attached to Jung-mins father. I feel so sorry for him. It is so terrible to think that my child could be dead like that, she said.

Lee does not know why Jung-min died, but does not trust the police investigation.

I trust what Jung-mins father says and I trust what YouTubers say. They provide more detailed information than the police.

Lee is one of many in Korea who continue to harbor suspicions and demand the truth from the police, although the police investigation into the incident is coming to an end.

Following more than a month of investigation, police said they have done all they could. Police have analyzed evidence and statements obtained, including security and dashcam footage, smartphone information and witness statements. Police also conducted a hypnotic and forensic investigation into the friend who was with Sohn at the Han River, the friends father, mother and other witnesses. Police have so far found no incriminating evidence against Sohns friend.

However, thousands of online comments are still being posted that question the probe results and physical protests are being held to demand the truth from the police.

Experts say multiple factors have played a role in the prolonged public outcry over the incident: public distrust of the police, the delayed release of the probe results, rampant fake news and a lack of media gatekeeping.

Lee Woong-hyuk, a professor of policing at Konkuk University, said, The first thing is that the trust of public institutions has been destroyed in the wake of several incidents involving police collusion in the past.

Most recently, police faced backlash after not applying a special law to former Vice Justice Minister Lee Yong-gu, who assaulted a taxi driver in November last year, before quickly ending the internal investigation.

In 2019, the Burning Sun scandal rocked the nation with its involvement of several celebrities and police officials, raising suspicions of police collusion and corruption.

In addition to the distrust, the failure of police to provide information quickly compared to peoples fast-growing doubts made the incident bigger, said Kwak Geum-joo, a professor of psychology at Seoul National University.

As uncertainties continued over the case, fake news flooded in and people began to believe conspiracy theories and even led to confirmation bias so that people no longer believe what the police say, she said.

Confirmation bias is the tendency to search for information in a way that supports ones prior beliefs.

A conspiracy theory is something of a nature that only a few people know. It feels like they have something powerful that others dont know but they believe they know. By believing in conspiracy theories, people feel in control of something, professor Kwak said.

Some YouTubers fully took advantage of the situation, creating dozens of videos under the theme of digging into Jung-mins case.

According to NoxInfluencer, a statistics website tool, six YouTubers that consistently produced videos and live broadcasts of Sohns case generated up to 30 million won ($27,000) a month.

Last week, a YouTuber who spread fake news was sued by a law firm that represents Sohns friend. The YouTuber produced content arguing Sohns friend had asked a SBS reporter to make program Unanswered Questions, which aired on May 29, in favor of him.

Shin Ho-chang, a professor at Sogang Universitys communication college, said the media is also to blame.

YouTubers were able to grow so much because media outlets didnt play a gatekeeper role and they danced to their tune, he said.

The most important principle of journalism is verification. They should report only verified news. But many of them have reported what was not verified. Many articles subtly hinted as if the friend were a murderer.

As tens of thousands online spread false information and posted malicious comments, attorney Chung Byung-won, representing Sohns friend, announced last week a legal response to the defamation online. On Monday, Chung said he received about 500 emails over the weekend to ask for forgiveness.

By Shin Ji-hye (shinjh@heraldcorp.com)

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Fact Check: Gripping story of Israeli soldiers conversion to Islam goes viral, but its fake – India Today

Posted: at 12:08 pm

After weeks of clashes with Israeli forces, Palestine has seen relative calm over the past few days. Sentiments, however, are still high over the clashes at Al-Aqsa mosque last month that left scores injured. The mosque in Jerusalem is of much significance in Islam.

Now, a picture of a woman in uniform is circulating on social media with the claim that she was part of the attack on worshippers at Al-Aqsa mosque. The claim further says that upon realising her mistake, she has converted to Islam.

Breaking News: This Israeli soldier attacked worshippers inside Al-Aqsa mosque along with her comrades. Today, this brave has suddenly converted to Islam. This is the top news in Palestine. Alhamdulillah! Islam shall win! says the caption in Hindi.

The archived version can be seen here.

India Today Anti Fake News War Room (AFWA) reached out to the Israel Defence Forces (IDF) regarding the viral claim. Responding to our email, an IDF spokesperson said the girl in the picture is serving in the force as a field observer. She is a Jew and claims of her conversion are totally baseless.

A reverse search of the viral picture led us to the IDFs Instagram page. Here, the picture was shared on April 29, 2021, with the caption, All the way from the Golan Heights in northern Israel, Sgt. Adi is a field observer who serves right near her hometown.

My birthplace has become the operational area that Im responsible for guarding. To identify anything that poses a threat to Israel makes me proud to be an IDF soldier, the post quotes her.

The same picture and quote were posted on the IDFs official Facebook page too. This confirms that the girl is indeed an Israeli soldier.

An IDF representative told AFWA that the girl in the viral picture is Sergeant Adi Azulai, a field observer with the forces 595th battalion. Rubbishing claims of her conversion, the spokesperson added that she is still a Jew, and second, she wasnt part of the clashes at Al-Aqsa.

According to the official website of IDF, field observers mostly monitor or track enemy movements through the use of technology and surveillance equipment. They work in liaison with intelligence services and on-field security forces to detect and neutralise threats.

Nowhere is it mentioned on the website that field observers are deployed during firefights.

The viral claim says that news of Sgt. Adi converting to Islam was trending at the number one spot in Palestine. But contrary to the claim, we did not find any credible report on the same.

We even attempted searching the viral claim in Arabic, the primary language of Palestinians, but still didnt get any result. Nor did we get any related media report in Hebrew, Israels official language.

Hence, it is evident that neither did Sergeant Adi Azulai of IDF attack people inside Al-Aqsa mosque nor did she convert to Islam.

ClaimThis female Israeli soldier was part of the attack on worshippers at Al-Aqsa mosque, Jerusalem. Now, she has converted to Islam. ConclusionThe woman is Sergeant Adi Azulai, a field observer with the IDF. She was neither part of the Al-Aqsa clashes nor did she convert to Islam.

The number of crows determines the intensity of the lie.

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Why Twitter Ban is negative in the fight against insecurity and fake news – Nairametrics

Posted: at 12:08 pm

The news of the Twitter ban in Nigeria dominated conversations over the weekend, and for good reason too. Twitter has been the leading source for reporting Nigerias insecurity in real-time, as poor emergency services means Nigerians use the platform not just for social networking, but for alerting security forces to cases of insecurity, especially with rising incidents of armed banditry and herdsmen attacks in various parts of the country. It has also been used severally to facilitate fundraising and draw the attention of leaders and citizens to pressing national issues.

Twitter is by far the most useful social media platform for Nairametrics, accounting for more than 90% of page views and visits, Emmanuel Dan-Awoh, SEO Analyst at Nairametrics, said last year on the impact of Twitter on news reporting in Nigeria.

READ: Twitter CEO, Jack Dorsey is considering hard wallet production

He added that Twitter only commanded 21% usage of Nigerias 82 million internet subscribers. Facebook led with 55.94%, while Instagram and YouTube were at 5.02% and 3.72% respectively.

The exclusive report also revealed that Twitter was not only the main medium for receiving and filtering news, but also had added advantages to the Nigerian Government, stating that: Official communication still leans more towards traditional media, but the use of social media by government agencies is growing while the use of traditional media is stagnating.

Although more Nigerians are on Facebook than Twitter, the open nature of the latters app features makes it easier for the government to interact and communicate with citizens, and also for citizens to spread information rapidly and debunk fake news.

READ: What Canada, Sweden, Britain are saying about Nigerias Twitter ban

With the heightened insecurity situation in the country, it is counterproductive for the government to remove an important tool for disseminating emergency information and communicating with citizens.

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To boldly go where no germs will follow: The role of the COSPAR Panel on Planetary Protection – Open Access Government

Posted: at 12:07 pm

As our ventures into the final frontier acceleratethis year alone saw three separate missions arriving at Marsand we land on nearby planets, the challenge is to make sure that we do not bring potentially dangerous material home to Earth (backward contamination) or indeed carry anything from Earth that may jeopardise the scientific exploration of these worlds (forward contamination). Planetary protection against biological contamination is an international concern receiving renewed attention due to new findings and the emergence of commercial actors.

Nations with their own space agencies and space exploration missions are responsible for their space activities under the United Nations Outer Space Treaty of 1967, including by governmental and non-governmental actors. The COSPAR Planetary Protection Policy, while not legally binding under international law, is the only internationally agreed planetary protection reference for spacefaring nations in compliance with Article IX of the Outer Space Treaty of 1967.

The Committee on Space Research (COSPAR) is part of the International Science Council, a non-governmental organisation that brings together scientific unions and research councils from around the world. COSPAR was formed at the dawn of the space age to promote international scientific research in space and provide a neutral forum for the discussion of challenges to scientific exploration, unencumbered by geopolitical considerations. One of its core activities is to develop, maintain and promote a Policy on Planetary Protection in the form of implementation guidelines.

The dedicated COSPAR Panel on Planetary Protection (PPP) regularly reviews the latest scientific research to adapt its planetary protection policy. The most recent updates to the Policy were approved in June 2020, and a major one concerning the Moon is coming up. The COSPAR PPP currently has 21 members representing space agencies and experts from the scientific community.

The Panel endeavours, through workshops, meetings and at COSPAR Assemblies, to provide an international forum for the exchange of information on best practices for adhering to the COSPAR planetary protection requirements. Through COSPAR, the Panel informs and interacts with the international community, including holding an active dialogue with the private sector.

COSPARs PPP is concerned with possible biological interchange during exploration of the solar system and aims to ensure that the scientific research involved is not compromised through terrestrial contamination, to safeguard investment in space science and exploration, while also protecting the Earths environment from any potential hazards of returning samples by a mission to a solar system object.

The PPPs primary objective is to develop and promulgate a clearly delineated policy and associated requirements to protect against the harmful effects of such contamination. This policy must be based on the most current, peer-reviewed scientific knowledge, and is intended to enable exploration, not prohibit it. Planetary protection requirements are not cast in stone and evolve over time as new information becomes available (updates to the Policy are published in COSPARs journal Space Research Today.) The Panel does not specify how to adhere to the COSPAR Planetary Protection Policythis is for the engineering judgment of the organisation responsible for the planetary mission.

Space research involves missions driven by private organisations and by national or international space agencies who send a variety of craft into space to enhance our understanding of its origin and evolution. Some will orbit a planetary body and others, such as the lunar, Martian or icy moon such as the future lunar, Martian or icy moon missions, will land on their surfaces. They will then analyse the surface or internal environment, searching for traces of life. COSPAR PPPs main goal is to prevent such missions from carrying terrestrial microorganisms to the target destination (forward contamination) as well as preventing any contamination from extra-terrestrial material returned to Earth for laboratory analysis (backward contamination). Using a categorisation approach, COSPAR PPP determines whether each mission is low risk or high risk. The five Categories of Planetary Protection outline the recommended measures that an agency should apply to each mission.

Missions deemed to be of lowest risk (Category I) are those to a target not of direct interest for research into evolution or the origin of life. These can include flyby, orbiter and lander missions but to destinations where no specific protections are required, e.g., currently the Moon, Venus, gas giants and some satellites. A special categorisation was recently issued by the PPP for an unrestricted Earth return from Mars moon Phobos by the JAXA MMX mission, as studies showed that samples would not pose a threat for our biosphere after careful handling.

Higher categories include bodies that are of interest for scientific research about the origin of life. Category III, IV and V missions include those targeting bodies (such as Mars, Jupiters moon Europa and Saturns moon Enceladus) which could compromise future missions by causing contamination from Earth microorganisms, and also those that are Earth-return and which may carry extra-terrestrial materials.

For such missions, the highest degree of control is applied to ensure that a minimum level of bioburden (the number of bacteria living on an unsterilised surface) is brought along. Planetary protection technologies are constantly being improved for cleaning and sterilising spacecraft and handling soil, rock and atmospheric samples.

The COSPAR Policy on Planetary Protection is vital for safeguarding our exploration of outer space and scientific research without contamination of planetary bodies or risk for the Earths biosphere. The COSPAR PPP works through a variety of hypothetical scenarios to ensure future scientific research is not compromised. These include whether, after advanced exploration and research, any signs of life found by a rover on Mars is Martian rather than terrestrial contamination, and whether potential extra-terrestrial life brought to Earth is sufficiently quarantined before scientific analyses. They aim not to stifle space exploration and research, but rather to ensure it continues unimpeded through adequate protections and information imparted to scientists and stakeholders around the world.

Please note: This is a commercial profile

2019. This work is licensed under aCC BY 4.0 license.

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The duel: Is space exploration worth it? – Prospect

Posted: at 12:07 pm

McCloskey is not convinced by "the lovely photos from Nasas journeys out into the solar system." Dmytro Olegovich Zakharchuk / Alamy Stock Photo

YesMarcus Chown

Paradoxically, space exploration teaches us about the Earth. And the things that we learn are arguably priceless because they are crucial to our survival.

The critical point is that other planets show us what the Earth would be like if things were different. So, for instance, we can see what the Earth would be like if it were smaller or larger, hotter or colder, if it had a different atmosphere, and so on.

Venus is Earths twin in terms of its mass. Yet when space probes visited the planet in the 1960s, they discovered

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Carnegie Science Center and Astrobotic launching Pittsburgh into the 21st-century Space Race – NEXTpittsburgh

Posted: at 12:07 pm

Pittsburgh is prepared to face a future dominated by the emerging technologies of robotics, artificial intelligence, biotechnology and medicine.

But what if we stood back a little bit and looked up into the night sky?

The dream of space exploration has new momentum now not seen since the so-called Space Race of the 1950s and 1960s. And a new partnership is positioning Pittsburgh to play a major role in that future.

On June 9, the Carnegie Science Center announced a new partnership designed to inspire and build a pipeline of talent for a new space economy in Pittsburgh. It begins with a new exhibition gallery, Our Destiny in Space, and ends with companies like Astrobotic, which was just awarded $200 million to deliver a rover to the moon for NASA, controlled from its headquarters two blocks away from the Science Center.

This initiative will create opportunities for our regions children to one day find their place in the space industry, said Jason Brown, director of the Carnegie Science Center, at the kickoff event. This will give students opportunities to learn alongside professionals that are building it, right now, today, here in Pittsburgh.

The project includes a new 7,000-square-foot gallery at the Science Center. The new permanent exhibit, Our Destiny in Space, moves away from the familiar, introductory science 101 content, noted Brown. After consulting with educators and students from Pittsburgh Public Schools, the Science Center created an immersive exhibition introducing students to questions about our shared humanity, and how they are addressed as we venture ever deeper into space.

Its expected to open in the fall of 2022, with a focus on Mars exploration particularly the path from Earth to the Moon, and then on to Mars.

The big idea for Our Destiny in Space is that the questions well face in the future for humans living on Mars are the same as those we face here on Earth today, said Brown. As we imagine a better future on a different planet, we discover whats needed to make that future on Earth a reality as well.

Rendering of the Our Destiny in Space exhibition courtesy of Carnegie Science Center.

The goal of this initiative is to make space accessible to all, but especially to marginalized groups and to students underrepresented in STEM, said Brown. The way we want to do this is by first lighting the fires of inspiration, and then clearing the barriers to entry. Inspiration, exploration, access and inclusion.

Space is a growing $425 billion industry. The partners on this project include the Keystone Space Collaborative, the Readiness Institute at Penn State, Discovery Space of Central Pennsylvania, as well as the Moonshot Museum, Carnegie Science Center and Astrobotic.

Astrobotic, as a business, is all about making space accessible to the world. We are so dedicated to that, that we have gone to the next step to create the Moonshot Museum, said John Thornton, CEO of Astrobotic.

The big idea is that kids young and old can walk right up to the glass, see a real spacecraft being built on the other side that will be sent to the surface of the moon and deploy real sensors and robots down to the surface You can get a front-row seat from our mission control, right up the street, added Thornton.

The Moonshot Museum, which will be located within Astrobotics North Side headquarters, was started with help from a $500,000 grant from the R.K. Mellon Foundation. It will be the first museum in the state dedicated to space exploration.

During last nights event, Pennsylvania Congressman Conor Lamb recalled when the first Soviet satellite Sputnik captured the worlds imagination, and showed how far behind America was in space exploration. He said that President Kennedy was determined to reverse that, and promised to land on the Moon, at a time when more Soviet dogs had been in outer space than American astronauts.

He says to his team, Look, coming in second in the Space Race is the same as losing. Theres no second place. We have to change the game, said Lamb. In a literal sense what he declared was impossible. There was no rocket capable of getting us to the Moon, no spacecraft capable of landing in 1961. But he had the instinct that if you actually set the goal and follow it up with enough resources, America was able to meet challenges like that.

As we all know, America rose to meet this impossible challenge.

Ultimately there were 410,000 people working on the Apollo program, many with NASA but in the private sector as well, added Lamb. Companies like Alcoa in western Pennsylvania supplied them with over a million pounds of aluminum. Outside of war, its the largest single endeavor that a group of people have ever really taken a part in, until, really, the pandemic happened.

That kind of resolve, that talent, that perseverance, is still present in Americans.

We, the Americans of the 2010s, 2020s and 2030s, are just as capable of accomplishing something like that today, as they were in the 1960s, said Lamb.

Pittsburgh is poised to be a place where that work happens.

We are creating a true ecosystem, from middle school to high school all the way through college and ultimately in industry, said Thornton. You can live and work in space in Pittsburgh.

Rendering courtesy of the Moonshot Museum.

The Science Center kickoff event also featured a keynote speech by Thomas Zurbuchen, associate administrator for NASAs Science Mission Directorate, who detailed the recent successes in exploring Mars.

Look at the Moon, Zurbuchen said. Look at it and think of all these places were going to go. And landers from this community will land and do amazing science.

astroboticCarnegie Science CenterMoonshot Museumspace

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STEM Ed: North Carolina Teachers Win New Tools to Enhance Learning about Space Exploration – The Grey Area News

Posted: at 12:07 pm

Aldrin Family Foundation logoSpace Exploration Bundles Awarded to Four Schools in Hickory, Burke, Pitt, and Union Counties

Four North Carolina teachers will get new tools and technology to help teach about outer space and inspire and empower students in the field of space exploration. The space education bundles are valued at $5,000 each and include a large Mars or Moon learning map, Mimio Mybot educational robotics system, a Lunar or Mars Pro Globe with augmented reality technology, and many other resources.

Educators teaching 5th-8th grade could apply for the competition through the North Carolina Business Committee for Education (NCBCE), a business-led, education nonprofit within the Governors Office. The Moon and Mars Bundles were donated by Public Consulting Group and the Aldrin Family Foundation.

Winning teachers include:

Said Governor Roy Cooper, Teachers can be the spark that inspires students to follow a promising career path like space exploration. Its exciting to see students interested in science and math because we need more young people in our workforce pursuing STEM careers.

A total of 27 educators applied statewide for the competition by writing two paragraphs about what space exploration means to them and what winning these bundles would provide to their counties.

Said Tony McLean Brown of Public Consulting Group, As part of our 35th Anniversary, PCG employees who live, work, and play in North Carolina are proud to support public school teachers and students who are excited about space. Whether they go on to NC State University or get a technical certificate from Duke Energys Apprentice Program, learning about space exploration and colonization is going to prepare these students for the future. It is very exciting.

Added Andy Aldrin, president of Aldrin Family Foundation, We strive to ensure that students never lose their excitement to learn about space. We hope that these deserving schools and their students are reenergized by the hands-on experiences offered by the Mars and Moon Maps and the curriculum that comes with them.

The contest grew out of an online conference sponsored by NCBCE last year to help educators with remote learning. The Aldrin Family Foundation presented at the NC Student Connect Conferences where they provided useful knowledge and tools for NC STEM teachers on how to incorporate space exploration into their classes to increase interactivity and interest. The session left teachers across North Carolina excited and interested in finding more ways to engage their students in learning about space. The Aldrin Family Foundation, along with Public Consulting Group, decided to award four of the large bundles to North Carolina STEM teachers.

Space-related careers include astronauts, engineers, space suit designers, satellite technicians, communications experts and other STEM (science technology engineering and math) jobs.

I didnt realize the many pathways which existed for a career in a space-related field. I would love the chance to share with my own students that there are a multitude of career paths related to this fascinating field, and that they really do have the potential to pursue a space-related career, winning teacher Vanessa Lail (Hickory Public Schools) wrote in her application.

________

North Carolina Business Committee for Education (NCBCE) ncbce.org

Since 1983, NCBCE has provided a critical link between North Carolina business leaders and the states education decision-makers, helping to create connections between the education curriculum and the overall work readiness of people across the state.

Public Consulting Group http://www.publicconsultinggroup.com

Founded in 1986 and headquartered in Boston, Massachusetts, Public Consulting Group helps primarily public sector health, education, and human services organizations make measurable improvements to their performance and processes.

At PCG, were passionate about getting results for our clients. Because we know that in the public sector, good results mean healthy, empowered, and successful individuals, families, and communities.

Aldrin Family Foundation (AFF) aldrinfoundation.org

The AFF strives to cultivate the next generation of space leaders, entrepreneurs and explorers who will extend human habitation beyond the Earth to the Moon and Mars. AFFs STEAM-based educational tools, educational activities and programs span from a childs first classroom experience through graduate school and professional programs. This vertical pathway unites explorers at all levels to learn from each others vision for space, ultimately creating the first generation of Martians.

Source: Ford Porter, NC Office of the Governor & The Aldrin Family Foundation

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The final frontier for investors: space exploration ETFs and trusts – Interactive Investor

Posted: at 12:07 pm

A space exploration investment trust is proposing to IPO, hot on the heels of the YODA ETF.

Space exploration has emerged as a potential investment theme. This has already been picked up by fund houses in the US, most notably with the creation of the ARK Space Exploration and Innovation ETF.

Now, investors in the UK also have a way to gain pure-play access to this theme.

This morning (11 June), Seraphim Space announced it intends to launch a space-themed investment trust, called Seraphim Space Investment Trust. The trust will list on the London Stock Exchange and hopes to raise 100 million at IPO. Will Whitehorn, former president of Virgin Galactic (NYSE:SPCE), will sit on the trusts board.

According to the announcement, the trust will invest in a diversified international portfolio of early and growth stage space tech businesses.

The trust will initially acquire a portfolio of 19 seed assets, already owned by the Seraphim Space Fund. The company highlights several of the firms in question, which are currently privately owned and valued at over $1 billion (707million): Arqit, a quantum encryption company;Spire Global, a weather forecaster;and AST & Science, the space-based 4G mobile broadband network provider.

With many leading space-related companies still in their infancy and therefore not yet listed, the trust is likely to have exposure to many unlisted companies. The closed-ended nature of investment trusts make them an ideal vehicle for giving investors accessing to companies not yet listed on a stock exchange.

The trust defines the sort of companies it will hold as those which rely on space-based connectivity or precision, navigation and timing signals or whose technology or services are already addressing, originally derived from, or of potential benefit to the space sector.

Rather ambitiously, the trust says it is targeting an annualised net asset value total return of at least 20% over the long term.

However, for those who prefer ETFs, the recently launched Procure Space ETF USD (LSE:YODA) is a potential option. The ETF listed on the LSE in early June, making it Europes first space thematic ETF. For an ongoing charge of 0.75%, the ETF tracks the S-Network Space index.

At least 80% of the ETFs portfolio is allocated to companies earning most of their revenues from space-related business. The Space Index splits these into two main groupings: satellite operators and hardware. Satellite operators are companies that either own or manage satellites or subsystems aboard satellites. Hardware refers to companies involved in the sale of equipment used by manufacturers in the creation of satellites and launch vehicles, as well as spacecraft components and supporting ground equipment.

However, the ETFs issuers envision the ETF gaining more exposure to other emerging areas of the space economy, such as space resource extraction and space tourism. The ETF currently has a holding in Virgin Galactic, already giving it exposure to the latter. As it stands, the ETF will hold 30 stocks.

Historically, if an investor wanted to gain exposure to space stocks, one seemingly obvious option would the aerospace and defence sector, notably companies such as Boeing. However, such companies are only loosely related to space flight and exploration, making them a far from perfect way to gain access to the theme.

More recently, there has been a focus on the potential of space tourism, the prime example being Virgin Galactic, which went public in 2019. However, space tourism is just one small part of the growing commercial potential of space.

Advances in technology are overturning traditional models for operating in space, with low-cost access to space becoming a reality, most notably thanks to innovations around reusable rockets. Since 2010, the cost of both building and launching satellites has fallen by a factor of more than 100x.

These lower costs have the potential to open up all sorts of commercial applications, particularly in areas such as telecoms and satellites. Space-based communications technology are also becoming more integral to the economy. A good example of this are location-enabled apps, such as Deliveroo and Uber, which make use of GPS.

New communication technologies such as 5G, cloud computing, and machine learning also require ever bigger transfers of data. The use of these technologies, therefore, will be increasingly reliant on satellite infrastructure.

As a result, in the years ahead, we should see a surge in satellites in orbit. Today, approximately 4,000 satellites are circling the globe. By some estimates, that will increase by 100,000 over the next decade.

The increased commercialisation of the space economy can already be seen in the make-up of investment and spending. According to statistics from the Space Foundation, in the 1960s, government spending represented almost all space spending. Today, that has fallen to just 20%, with the other 80% coming from commercial spending on infrastructure, and their support industries, alongside commercial space products and services.

According to the mostrecent Space Report from the Space Foundation, the space-related companies generated over $400 billion in revenues in 2019. However, according to the Bank of America, that should grow to $2.7 trillion by 2045.

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The final frontier for investors: space exploration ETFs and trusts - Interactive Investor

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