Adam Jonas on @SpaceX: "I regularly present to large groups of clients and ask the room: "Who here owns $SPCX shares?" Last night, when I did that in front of 40 clients, not a single hand went up. Sometimes it's 1 or 2 hands. Rarely more. SpaceX is a conglomeration of many tightly interlinked businesses in sectors where, to fully appreciate any of them, investors have to understand all of them - or at least understand them in concert. Only a select handful of people in the world understand the engineering challenges with Starship's heat shield or the inner workings of a full-flow staged combustion rocket engine to properly judge the testing path. Fewer still can say where compute pricing is heading as agentic token demand grows. The highly uncertain variables of quantity and price ($/watt) of compute can swing even next year's revenue by potentially a multiple. We are sympathetic to the investor that approaches SPCX from one angle, such as Telcos or A&D or AI in isolation. Doing so would make the stock look quite expensive. Our message to investors is that valuing SPCX is more of an 'and' problem than an 'or' problem. The unusual dimensionality that makes it challenging to value the stock, in and of itself, gives the stock its value. • To appreciate the magnitude: Visible Alpha consensus currently models $17.6/watt on 4.1 avg GW, meaning each incremental $10/watt adds > in consensus revenue (>1/3 of total cons FY27 rev) with no change in compute deployed. • We believe SpaceX's recently announced short-term neocloud contracts (least value-add of all AI businesses) are at $30-50/watt - with the supply/demand for compute headed tighter into year-end based on industry pricing."

Emmanuel Macron says American free speech is "the opposite of free speech." In his view, freedom only exists inside a "common framework" set by the state. He compared posting an insult online to hitting someone in the street. Those are different things, because one is speech and the other is violence. He wants people punished for posting "nonsense," with state-backed fact-checkers deciding what qualifies. He wants a verified identity behind every social media account. He has written to Ursula von der Leyen demanding the DSA be enforced "much faster, much more forcefully." reclaimthenet.org/macron-urg…

Kent police have put signal blockers near cruise terminal in Dover to prevent people from live streaming the invasion.

The Labour government is lying to you. A border officer at Manchester Airport says there is a corner of the airfield he can see and is banned from entering. Flights in between 2am and 4am. Three or four a week. Transponders off. Special call sign. Cleared to land. Not screened by Border Force. Met by Home Office staff. Onto unmarked buses. Out a side gate. 200 to 300 people a flight, from the Middle East and sub-Saharan Africa. That is not a leak. That is the government flying people in while telling you the border is under control. Illegal immigrants, delivered by the same people who swore they would stop the boats. They are not failing. They are doing it. And they are lying to the British people about it.

What makes you say that we already know we have more than 100 thousand illegal invaders here already under the same Home Office and the real figure is probably much higher

This is how it goes. Team Grok has a nice goal to shoot for but it’s a long shot away today.

Musk spent over $290 million to put Trump in the White House. He’s $640 billion richer today. Not a bad investment. Now he’s spending up to $200 million to try to keep Republicans in control of Congress. Our job: Stop Musk. Stop Trump. Elect Progressives. End Citizens United.

10 years before SpaceX the journey started long before the rockets reached the sky.

🦔Google sent contractors to chainsaw 300 hectares of forest in northern Finland for new data centers. About 740 acres, roughly 500 football fields. They started months before the required environmental impact assessments were finished. Finland's conservation association filed a complaint calling it "gross incompetence or gross disregard for Finnish legislation, or at worst both." Google says they complied with the Forestry Act. Finland's licensing agency opened an investigation on September 19th, days after Google announced €13 billion in new data center investment in the country. My Take Google spent €13 billion to expand in Finland and couldn't wait for a permit review before cutting down the trees. Finland gave these companies electricity tax breaks for years to attract data center investment, so I doubt anyone in government pushes back too hard now. You don't pick a fight with your biggest infrastructure customer over 740 acres when the money is already committed. This isn't the first time either. Equinix spilled 5,000 gallons of diesel at a facility in New Jersey and nobody got in real trouble for it. The AI buildout is spending so fast that local governments can't keep up, and most of them don't want to. A €13 billion commitment turns a regulator into a cheerleader pretty quick. I think we're going to see a lot more of these stories before anyone with real authority decides to do something about it. Hedgie🤗

What happened to buying $SPCX at $100?

🚨 Japan Just Broke The French Bond Market One Tokyo fund (Sumitomo Mitsui DS) didn’t trim exposure. It dumped every French government bond it held and rotated into German Bunds and short-term Japanese paper. Not a reduction. Full exit. Something that even shocked the Financial Street. The France-Germany 10-year spread blew past 140 basis points, the widest gap since the euro crisis. France's 5-year CDS has spiked up to 81 basis points, the highest since 2013. The higher the number, the greater the risk of national bankruptcy. French domestic holders are now facing a deeper mark-to-market loss and a less liquid exit to sell into the same one-way market. Japanese investors still sit on roughly ¥25 trillion of French debt, second only to American holders and this was a single manager’s book. Carry trades that funded higher-yielding global debt market with cheap yen just got a live demo of how fast the unwind can hit. When the bid from Japan disappears, the largest European sovereign market has to find new buyers at the same time its own government is arguing over a deficit plan that markets already distrust. If more Japanese money follows the same exit, the same flow that once compressed euro spreads can reprice them in the other direction. We now understand what @yutokanzakireal meant by saying “Japan is bringing the entire house down” in response to Scott Bessent’s “I am the house now” statement: Ending cheap-yen funding is forcing a margin call on the leveraged global debt system built on the carry trade and not just the U.S. leverage. France just got the first real look at what Japan’s wealth returning to the homeland looks like.

Secretary of War Pete Hegseth drains 9 out of 10 three-point shots after a workout. Hegseth played basketball for Princeton University from 1999-2003. In high school, he set the school record for most career three-point shots. Impressive.

A quick hello from the @Space_Station.

Isn't SpaceX's bull case with orbital AI based on "earth datacenters will be blocked / won't be built?" But earth datacenters ARE being built, more and faster than ever? 🤔

Yes, so build 1000 of them over the next 10 years and see how that works out.

This retard is making the case to get rid of tradesmen work vans and replace them with cargo bicycles, whatever the hell that is. She thinks you can transport ladders, tools and equipment on bicycles.

Finally , a man 💪‼️‼️😂😂😂😂

Scottish British‼️he would reject the English😬rightly

Elon’s brain

Two hours ago I was officially disconnected from my X laptop. Good night my sweet little app. Thank you for giving me the most interesting chapter of my life. Onto the next one.

Wow, and here I experience the exact opposite.

Regret to inform you that old Walter Titty has been lying again dailymail.com/news/article-1…

He’s repeatedly said his ancestors “fled the Nazis.” They didn’t.