A Houston entrepreneur is creating a fun and educational platform for children that helps to preserve their heritage. Photo by Kelly Sikkema/Unsplash

Theoharis Dimarhos grew up in a family determined to follow tradition. As a child, his mother serenaded him with old Greek folk songs he still remembers, and his parents made speaking Greek a rule of the house. Dimarhos lived the immigrant family experience, and now he's developed a modern way to preserve pass down culture to the masses.

"My parents came from Greece in 1981, and in typical fashion, they didn't have much and didn't speak the language at all," says Dimarhos, who was born in Cleveland, Ohio. Living the first-generation American experience, he watched his parents work tirelessly to provide for the family and maintain their Greek culture in America.

Dimarhos did get his own immigrant story when his parents decided to move back to Greece when he was 7. After assimilating to Greece, he traveled back to the United States for college, where he learned to readjust once more.

"I kind of got that immigrant experience a couple of times," he says.

While Dimarhos grew up surrounded by his own heritage, he began to realize that "our native cultures were destined to fade if there wasn't a more modern way for children and our little siblings to learn more about their roots."

When talking with his friends from other countries outside of Greece, a general consensus grew: without modern learning, family heritage would slip away.

Enter: Ellis, an app that helps children connect to their culture. The app includes Greek songs, fables, mythology, history, and language.

Named after Ellis Island, a gateway into the United States for so many immigrants in history, Ellis nurtures Greek tradition in a way that caters to children through technology.

"I've always seen [Ellis Island] as a monument of courage to chase your dreams. . .people came and built this country, but also never forgot where they came from."

Interactive technology is becoming a large part of early childhood education, especially during COVID-19, as more families are at-home with children learning virtually. Children are the targets of over 80 percent of the top-selling paid apps in the education category of the iTunes store, according to a published analysis by Carly Shuler in 2012.

Dimarhos and his wife are deeply tied to their Greek heritage, and hope to pass that history and appreciation to their own children once they start a family.

"We wanted to make sure that there was a 21st century way for us and for our children to learn that goes beyond books," he says. "Something that's a little more immersive and fun — fun is very important — and educational."

Ellis is currently being beta tested with a group of 200 active users within the Greek community. The app, which targets ages 0-8, rolls out weekly content to parents.

"I'm receiving texts from friends who are parents begging me to put more content out because they need something to keep their children occupied," says Dimarhos. "Not only are regular schools closed, but cultural schools that are offered by the community are also closed and struggling to open back up."

Time spent on the app can be as short as five minutes and stretch into hours of learning time.

"The goal is always for children to pick up little phrases and words each time they listen," explains Dimarhos.

The stories and songs are all audio-based, tying into activities like waking up, eating breakfast, and bathtime.

"There's something magical about tying in an audio story or song with everyday tasks for kids," says Dimarhos.

Dimarhos parents see the app as "the next step of passing down the torch of our culture," he says.

"They tried to do it with the tools that they had for myself and my sister. . .We're trying to do the exact same thing that they did and their parents did, just with the tools that technology offers us," he says.

Dimarhos, who previously worked in economic development in Austin, had his first experience with startups when his former boss gave him a chance to work with his international accelerator for startups.

"I got my opening into the tech world through the international accelerator and seeing amazing immigrant founders create jobs and strive to do great things in America," he shares.

"Quite honestly, a startup that celebrates different cultures couldn't have a better home than in Houston," he says, noting the massive immigrant population and variety of cultures in the city.

In Dimarhos' own life, he's come across immigrants as well as first and second generation Americans who wish to preserve their own cultures.

"They've wished there was a more modern way to have access to those resources," he explains.

In the future, Dimarhos intends to quickly broaden the app to "launch in every immigrant community in the United States and around the world."

Connecting to cultural roots is something Dimarhos feels is "sacred" to immigrant families.

"It's something that you have the obligation from your parents as they give you everything for you to succeed in life. You kind of carry that obligation to carry that torch and pass it on to your children and their children," he explains.

"We grow up with that and the vision and the mission is just to create something that makes that a little bit easier to keep our cultures alive. I honestly think it's part of what makes this country great," he says.

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Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

NASA unveils Artemis III astronauts at Johnson Space Center in Houston

To the moon

NASA on Tuesday, June 9, revealed the crew for its Artemis III mission, the next step in the space agency's plan to eventually land astronauts on the moon.

The announcement came two months after Artemis II's record-breaking trip around the moon that surpassed the distance record of Apollo 13.

NASA's Randy Bresnik, Frank Rubio, Andre Douglas and the European Space Agency's Luca Parmitano won't fly to the moon or land on the surface. Instead, they’ll orbit Earth while practicing docking their Orion capsule with two lunar landers.

“To the Artemis III crew, we wish you Godspeed on the journey ahead,” said NASA administrator Jared Isaacman.

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are racing to deliver the lunar landers. The two-week demo is targeted for 2027. Blue Origin suffered a recent setback when its massive rocket exploded during an engine-firing test on the launch pad in Florida, shaking nearby homes and illuminating the sky with an orange fireball.

NASA's Jeremy Parsons said the setback is a learning opportunity and that the space agency is confident Blue Origin's rocket will be ready in time.

NASA's Artemis program aims to return astronauts to the moon's surface for the first time since the 1970s. A recent revamp of the program announced by Isaacman aims to fast-track it similarly to the Apollo era, adding the upcoming spaceflight around Earth before eyeing a lunar landing in 2028.

“We are certainly humbled as a crew to be able to be your crew that executes this Artemis III mission in space,” said Bresnik, Artemis III commander.

Added Douglas, mission specialist: “My brain — it is going a mile a minute right now. But my heart, it is so warm. It is so full."

In May, NASA awarded hundreds of millions of dollars in contracts to four companies, including Blue Origin, to build landers, rovers and drones for a future moon base. Isaacman said the goal of the moon base is to lay the foundation for a Mars expedition.

Meta to bring $115 million AI data center training initiative to Houston

ai workforce

Meta and Associated Builders and Contractors have entered into a partnership to invest $115 million in training programs for the construction of AI data centers, with a portion of the project launching in Houston.

The companies announced June 8 that they would open America’s Workforce Academies at ABC chapter training centers in Houston; Indianapolis; Baton Rouge, Louisiana; and Columbus, Ohio.

The academies will offer career readiness and safety training, plus five weeks of hands-on education. Participants who complete the program will be granted a job offer from contractors working on Meta projects.

“The AI revolution is bringing change but also historic opportunities,” Dina Powell McCormick, Meta president and vice-chairman, said in a news release. “Skilled workers electrified rural America one pole at a time. They manned the factories that built the arsenal that won World War II. Now a new generation will pour the foundations and lay the fiber that secures American strength in this new age.”

Overall, the Meta and ABC aim for the academies to build a more sustainable pipeline of skilled construction workers and ensure safety and job readiness for the surging number of data center projects underway.

“This new program is an innovative talent solution that is a critical part of addressing the construction industry’s ongoing workforce shortage and creates an accelerated, new-entrant strategy for job seekers ... The sustained demand for data center construction technicians means the industry needs an all-of-the-above approach to address this shortage and grow the construction talent pool,” Michael Bellaman, ABC president and CEO, added in the release.

In Texas, Meta, the parent company of Facebook and Instagram, has launched or broken ground on data centers in El Paso, Fort Worth and Temple. The company announced in March that it planned to grow its El Paso Data center by 1 gigawatt, representing more than a $10 billion investment.

Apart from Meta, Texas has attracted data center development to power other giants like Google and Amazon in recent years. In turn, Texas has been predicted to become the biggest data center market. Commercial real estate services provider JLL reported this spring that the state could topple Northern Virginia as the world’s largest data-center market by 2030. Similarly, CBRE predicted that Houston's data center capacity could double by 2028. Read more here.