Hello!
Look, I love a Spitfire and it remains my favourite WW2-era single seat-fighter but I’ll give it to the Americans, the Mustang P-51 changed the course of the war and the story of its rapid development is one of dramatic innovation that still resonates today.
During the early years of the war British manufacturers were struggling to keep up with demand as the RAF fought to fend off the Luftwaffe. They turned to the US and commissioned a new aircraft on the proviso the first one was flying in 120 days. 117 days later the first P-51 was airborne. Roughly the same amount of time it now takes a piece of furniture to be delivered.
The only issue with the original P-51s is that the Allison engine did not allow it to fly particularly high, making it unsuitable for combat in Europe. Ronald Harker (a test pilot) had the idea to chuck a Rolls Royce Merlin engine in (the same one used in the Spitfires) which produced an incredibly effective long-range fighter.
It was actually the US, who initially had doubts about the limey-powered planes, that deployed the P-51 most effectively. They had a dire need for a new approach to escorting bombers having been decimated by their “fly in one big formation in broad daylight” doctrine. The P-51s enabled long-range engagement of enemy fighters, leaving the bombers relatively unimpeded.
So there you have it - iterate quickly, test different use cases and don’t be afraid of a bit of international collaboration.
Chocks away,
Hugo
Marshal of the Royal Stuff Force
The Business of Stuff
The Stuff
Demand for authentic Wasabi is growing 🇯🇵 - consumers outside of Japan are growing increasingly interested in the distinctive plant. The problem is that production of Wasabi has decreased by 26% since 2019 due to an ageing population of farmers.
HelloFresh shares drop 40% after profit warning 🥕 - it feels like another Covid flash in the pan. Although they’ve been going since 2011, the pandemic must have felt like their moment but costs have gone up and people are just eatings tins of baked beans in the current economic climate.
Rupert Murdoch gets engaged for the 6th time aged 92 💍 - it must be love. His fiancee, a Russian molecular biologist, is a sprightly 67. They’re getting married in June which is a quick turnaround but you can’t be hanging around at that age.
Siemens is going to build a new engineering centre in Chippenham 🚂 - the facility will cost £100m and develop rail signals and control systems, hence its proximity to Great Western main line. It is expected to be operational by 2026 and will employ around 800 people. Engineers presumably if its an engineering centre.
Aviva is benefiting from a boom in private health cover 🏥 - operating profits increased by 9% thanks particularly to 16% growth in its health business. As NHS waiting lists remain at record levels people look towards private health insurance as an alternative. You’d think there would be a more efficient manner of allocating capital to healthcare but as it continues to be a political football, no one really seems to be thinking about it that hard.
Singapore paid Taylor Swift to not perform anywhere else in SE Asia 🇸🇬 - Thailand’s prime minister has accused them of paying more than £3m per show for a ‘radius clause’ that prevents her from performing in other countries in the region. A savvy business move as this is expected to boost Singapore’s GDP by 0.2%.
The pound is doing pretty well this year 💷 - it is the only major currency to strengthen against the dollar this year. The UK is looking pretty ‘boring’ at the moment which is a good thing on the global FX market. Whoever wins the general election is unlikely to veer far from economic orthodoxy and there are signs the UK is recovering from its technical recession last year.
Boeing planes undergo three more mishaps this week ✈️ - the latest debacles include a 737 veering off the runway at Houston, a 757 suffering an engine failure over the Pacific and a gear issue with a separate 737. United are pretty fed up with Boeing and is considering how it might replace some of its massive order for Max 10s with Airbus planes. They’re not exactly spoilt for choice.
OpenAI reinstates Sam Altman to its board 🤝 - after an investigation by an external law firm Altman has rejoined along with three new directors who are all big Silicon Valley names. The investigation found Altman was fired due to a “breakdown in the relationship and loss of trust between the prior Board and Mr. Altman."
The gambling industry is embracing AI 🎰 - what we all really need is a more effective gambling sector so it’s great that they are starting to use AI to improve the customer experience and increase engagement. On the other hand it can also be used to assess when a gambler is demonstrating signs of addictive behaviour which can then be used to make an intervention.
Quote of the week
“If anyone approaches you shout 'halt, who goes there' and take down their credentials.” - Cpt. George Mainwaring