Aaron Jacobson

Business growth @X. Founder, Father, & Husband

[Aaron Jacobson @AaronJacobxon]

There has never been a nicer day than today. ☀️

[Business @XBusiness]

The countdown is on!

Just two weeks until kick-off and FIFA World Cup™ fever is building on X:

⚽️ 312M global posts since April
🏆 +20% increase in average daily posts in May

[xAI @xai]

Thank you so much for all the feedback on the Grok Build Beta.

Some of you reported hitting limits quickly. Our team found areas to improve caching, so we've reset Grok Build usage limits for all accounts.

Please keep sharing feedback - the team is here to help.

[Mario Nawfal @MarioNawfal]

An AI model trained on only 2.5 hours of operator data ran a real excavator remotely over @Starlink.

Two and a half hours of watching a human, and the machine can dig on its own.

The labor economy is about to look very different, very fast.

[Aaron Jacobson @AaronJacobxon]

@Vivek4real_ lol - there is nothing less capable of losing a plot than Bitcoin.

[Teslaconomics @Teslaconomics]

People keep telling me the same thing about SpaceX IPO: “Don’t buy at the IPO. Wait 6–12 months, it’ll be cheaper.”

And honestly, that advice exists for a reason bc most IPOs come out hot, the hype fades, insiders sell, competition shows up, and the stock drifts lower.

But I don’t think SpaceX is going to be like most IPOs that we’ve seen…

SpaceX is not just another company entering a crowded market hoping to figure it out later like most IPOs we’ve seen. There literally is no market today. SpaceX is building the railroads to space with zero real competition.

Most IPOs fail bc:
1/ competition crushes margins,
2/ there’s no real moat, and
3/ hype runs ahead of reality

SpaceX on the other hand, checks none of those boxes.

It’s already profitable, with roughly ~$8B in profit on ~$15–16B in revenue.

It dominates launches.

It leads low-Earth-orbit internet, by far.

And its lead is years, if not decades ahead of any “competitor”.

The scale of this IPO is going to be historic
• Target IPO: mid-June 2026
• Valuation: ~$1.5 trillion
• Potential raise: up to $50B+

FYI, current record was Saudi Aramco’s raise of $29B in 2019.

If this happens, it becomes the LARGEST IPO in history. Nothing comes close.

Also when we talk about launches to space, it absolutely crushes.

In 2025 alone,
• 165+ Falcon 9 launches
• 99%+ success rate
•~80-87% of U.S. orbital launches
• 60-80%+ of global commercial payload mass

And when we talk about the cost to orbit:
• SpaceX: $1,500-$3,000/kg
• Traditional rockets: $10,000+/kg

Now if you do look at the “competitors”, they aren’t even close.
• ULA: ~6 launches/year
• Rocket Lab: ~20
• Blue Origin: still ramping
• Arianespace: struggling

Then, with Starship, this gap is about to widen more:
• $2-10M per launch vs. ~$60M for Falcon 9
• 100+ ton payloads
• Fully reusable

Starship is going to collapse the cost of launching things to space. And no one else can do this today.

Then, there’s the Starlink, quietly generating tons of revenue for SpaceX.
• ~9,500 satellites, the largest constellation ever
• 10M+ subscribers and growing fast
• Operating in 140+ countries
• 500+ Mbps speeds with low latency
• $7.7B (rev in 2024)
• $10-12B (rev in 2025)
• ~$18.7B (proj rev in 2026)

Starlink’s scale is creating network effects that will be extremely hard to catch up to.

In the 1800s, just like how railroads allowed people to move faster and create entirely new economies, SpaceX is doing that for space with
• lunar and Mars bases
• orbital data centers
• space manufacturing
• solar power in orbit
• point-to-point travel on Earth

The space economy is projected to grow from ~$630B today to $1.8T by 2035, possibly $2–3T+ by 2040 and SpaceX will be the key driver of this.

This company has REAL growth.

SpaceX revenue trajectory:
• 2024: ~$13B
• 2025: ~$15-16B
• 2026: ~$23-24B projected

Driven by:
• Starlink subscriber growth (18M+ projected in 2026)
• Starship commercialization
• government and defense contracts

The cash flow story is already here.

This is why I believe the usual post-IPO drop won’t happen… SpaceX has
• massive institutional and retail demand
• recurring subscription revenue
• government contracts as a floor
• structural barriers protecting margins

This is one of the rare cases where you get both 1/ real cash flow today + 2/ massive upside tomorrow.

I think the part that most people are missing is that other IPOs entered crowded markets, while SpaceX controls the entire gateway to space and no market like this exists today.

No one else has:
• reusable rockets at scale
• the largest satellite network on Earth
• a heavy-lift system like Starship
• launch cadence that continues to compound its lead

I really don’t think this is going to be like any other IPOs we’ve seen.

It’s the first time in history that any human can invest in the new space economy. And moments like that don’t come around often, if ever.

Time will tell if I was right.

[Bitcoin Magazine @BitcoinMagazine]

BREAKING: SpaceX reports they own 18,712 bitcoin worth more than $1.45 billion — SEC filing 👀

[Aaron Jacobson @AaronJacobxon]

Epic line: “frees Elon to do psychotic engineering while one of tech’s biggest operators executes across the empire”

[Farzad 🇺🇸 🇮🇷 @farzyness]

Elon Musk has been publicly stuck in the Tesla CEO role he never wanted. The solution has been operating in plain sight for 17 years at SpaceX. Gwynne Shotwell just absorbed xAI into the SpaceX entity she runs. Tesla is next. The consolidation frees Elon to do psychotic engineering at the highest level while one of tech’s best operators executes across the empire.

*** thanks to @DavidCarbutt_ and team for the edit.

[Proton Mail @ProtonMail]

@TIBoine See here:

https://t.co/cExfPSf68h

[Aaron Jacobson @AaronJacobxon]

@DudespostingWs This is the best thing I saw on X today.

[SmartSec Academy @SmartsecAcademy]

@XBusiness Very impressed with X Ads Manager so far. Even small awareness campaigns are generating serious visibility for SmartSec Academy.

[Aaron Jacobson @AaronJacobxon]

Hearing great results from advertisers on the new platform - low cost for all metrics - never a better time to promote your brand on X.

[Business @XBusiness]

Are you getting the most out of your business with our new Ads Manager?

Drop us a line and share your success stories to get your brand featured on X 👇

[Aaron Jacobson @AaronJacobxon]

this is real inflation - wages don't stand a chance against an unrestricted printing machine.

[River @River]

@CNN The people don't need higher wages.
They need money that can't be printed.

[Aaron Jacobson @AaronJacobxon]

@RayDalio First point is true - no banks want transparency, but doesn’t that prove it’s a better model?

The second point is surprisingly short sighted for someone who’s been investing so long.

And the third point proves you don’t even understand what Bitcoin is.

[Aaron Jacobson @AaronJacobxon]

Live music in the subway is so under appreciated. This guy is awesome -he really understands principles of influence.

Always attracts a crowd.

[Aaron Jacobson @AaronJacobxon]

Times Square Shuttle marketing update. Nice thematic wrap by @British_Airways

[Aaron Jacobson @AaronJacobxon]

@MarioNawfal lol showing this to my kids immediately.

[Aaron Jacobson @AaronJacobxon]

Nice job on the ad @Tradeify

[Tradeify @Tradeify]

$1M in Prizes. $0 to Enter. Zero Experience Needed.

[Aaron Jacobson @AaronJacobxon]

@SatoshiTrailz @brian_armstrong ☝️ spot on

[Aaron Jacobson @AaronJacobxon]

@brian_armstrong Respect the explanation. Incredibly sad to imagine this will happen everywhere, but reducing non-contributing management layers is necessary to compete.

[James Page @JRiccardiPage]

Everyone has as much bitcoin as they deserve. Don’t wait.