In 1969 the Lockheed Aircraft Corporation took a break from making planes to drop bombs on Vietnamese villages and turned their attention to making films about dropping acid. The results of both their efforts were awful. And of course they were richly rewarded at the taxpayer's expenses.
From Night Flight:
Lockheed ended up borrowing $(removed) million from a consortium of banks in 1969, even they would still end up declaring multimillion dollar losses for the company for ’69 and 1970. It wasn’t enough money, however, and so the failing aerospace giant once again turned to our federal government, who then granted them a $(removed) million dollar loan guarantee, which Nixon’s administration actually proposed and Congress narrowly ended up passing in August 1971, passing that sizable debt on to the U.S. taxpayer by showing that Lockheed — just like the banks — was simply too big to fail.
Lockheed would survive and grow in the 1970s, of course, ultimately buying another defense contractor, Martin Marietta, and becoming the mega-huge Lockheed Martin, the world’s biggest defense contractor, which was later described by Jonathan Vankin in The Big Book of Scandal as “a company that sold billions of dollars in weapons every year, while covertly functioning as one of the world’s largest organized crime syndicates.”
Just days before the horrific mass murder at Pittsburgh’s Tree of Life synagogue, my Institute for the Future colleagues Sam Woolley and Katie Joseff published a deeply upsetting study on how social media bots and computational propaganda are being used to instigate and amplify anti-semitism online and manipulate public opinion. From the paper: This report […]
Trump is mentally incapable of functioning as president, writes one of his administration’s senior officials, anonymously, in the New York Times. But not to worry, America. An administrative coup has been effected and we’re making sure the GOP’s agenda will be executed for as long as we can strap him to his horse. Given the […]
Over at Mondo 2000, our old pal RU Sirius interviewed Douglas Rushkoff, Jake Dunagan, and I about the “The Biology of Disinformation,” a new research paper we wrote for Institute for the Future about how media viruses, bots and computational propaganda have redefined how information is weaponized for propaganda campaigns. While technological solutions may seem […]
What do you get for the techie who has everything? How about giving them a Raspberry Pi and letting them make pretty much anything. Or better yet, do it for yourself with the Ultimate Raspberry Pi eBook Bundle. This trove of ideas and education unlocks the unlimited potential of this mini-computer, whose affordability and versatility […]
Note-taking just caught up to the digital age. For most of us, writing freehand is quicker and more convenient than pecking away on a tablet, but what to do when you need those scribbles on file? Grab a Rocketbook Everlast Reusable Notebook, which seamlessly fuses analog and digital notes. Just jot down your thoughts, journals […]
Remember the cartoons of your youth? There’s a good reason. Nothing sparks the imagination like well-done animation. And whether you need a logo in motion or just want to bring your own imagination to life, CrazyTalk Animator 3 Pro is the tool that can take you there. Easy enough for casual users but with all […]