Jeff Bezos Going to Space

Jeff Bezos Going to Space

Do you want to go to space? Hello, this is Reinhard von Hennigs. And if you are Jeff Bezos, then the answer is, yes, you do want to go to space and you're doing it. And this is exactly what Jeff Bezos announced the other day. On July 20th of this year, he will be flying into space. Only 15 days after he resigned or after the day is set where he will resign as the CEO of Amazon.

So while Jeff Bezos is in space, He is certainly excited that his long life goal to be in space is out of a sudden part of reality. We all remember 2016 in Star Trek beyond where he did a cameo in the movie and his passion and his interest in space is one thing. But in reality, it's not just a little kid's dream.

He's been quoted to have said, I believe that if we won't go to space, we will eventually end up in a civilization of stasis, which I find demoralizing. So far, why Jeff Bezos wants to go to space. From a legal question point of view, I wonder if he allows others to join his trip. What would the liability disclaimer look like?

Would you sign on the dotted line? I agree that I will be dead. If the rocket implodes or what other liability waivers there would be inside. It's almost like a feast to see that disclaimer, to be used in different settings. Is it for real? Yes, because Bezos is auctioning off seed and it was bubbling around the two-point something million-dollar range for the 11-minute flight, which brings you 60 minutes out in space.

And after Bezos announced to be on board personally, now the number jumped up to $3.2 million for the 11 minutes. I think it may go much higher, but in the end, I'm really curious to read the liability because if you go into a dangerous environment and you endanger yourself, the company that was running this danger needs to be properly indemnified. Will this be enforceable in court? I hope we will never have to learn that because this flight needs to be successful.

#427, June 2021, Jeff Bezos, space, liability, contract.

Why Aren’t Ports Accepting a Ship After the Captain Died at Sea?

Why Aren’t Ports Accepting a Ship After the Captain Died at Sea?

Do you know the flying Dutchman in the 21st century? Hello, this is Reinhard von Hennigs. Force majeure was declared on the container ship, Intel Liberia the other day when the ship is driving or flying over the oceans with no Harbor willing to accept them. This reminds me of the opera, the flying Dutchman.

However, the story is quite different. And now as a result of that, force majeure was declared concerning goods and items shipped on that vessel. The captain died. The ship is subject to Coronavirus infection on many of the crew members. And it's expected that the captain died of Corona, even though the official results are still out. Multiple harbors in the Asian world are not taking this ship in, and now the ship made the decision to go to Italy, to repatriate the dead body of the captain, and then to continue to ship it back over to Asia, hoping to let go of some of their cargo. What does it mean if you're waiting for cargo on that ship? Well, force majeure was declared and as part of that, no Asian ports are accepting the vessel.

So items that are on that ship can not be put into commerce. Therefore, if you're waiting for goods on that ship, you are out of luck. In practical terms, it serves again as one of those many reminders. And also it is a continuation of a couple of other morning musings I had that force majeure clauses are relevant.

They're relevant today. Maybe they're relevant today, more than ever, because what used to be unforeseeable is now a reality. Who would have thought that a ship's captain would die and many, many ports will not allow the ship to enter? Check your force majeure clauses, and make sure that you are covered in transactions like that.

#431, June 2021, force majeure, cargo ship, COVID, contracts, port.