It blows my mind how many people are complaining that Elon became the first trillionaire.
First, most of it is paper wealth tied to equity in his companies. He could not turn it into real cash without dumping shares, which would crash the price and shrink his net worth massively.
“But he can borrow against his shares.” Sure he can. That does not make him richer. A loan still has to be paid back, the shares stay pledged as collateral the entire time, and if the price drops he gets margin called. He’s just leveraging paper.
You would be much richer holding $1 million in cash than owning 25% of a company worth $4 million, even though both equal $1 million on paper.
Second, come on. He actually changed the world. A lot of these people complaining drive electric cars because they care about emissions. Those cars would not be mainstream if Elon had not built Tesla. Millions of people in rural and remote areas have internet because of Starlink. SpaceX is the only reason NASA is not still paying Russia to send astronauts to the ISS.
You can hate the man. You can hate his politics. But pretending he is not one of the most consequential entrepreneurs of our lifetime is just dishonest.
@SenWarren If you had half a brain, you would understand that most of it is paper wealth.
He couldn’t turn it into real money without dumping shares of his company, which would crash the price and make his net worth way smaller.
Some follow up information on this operation and how this Dark Fleet 2.0 is operating.
⚓️The tankers that are making the transits through the Strait are probably government owned - Kuwait and UAE the likely suspects.
⚓️I heard from several sources that commercial war risk, vice DFC, is being used for the ships.
⚓️When the US-flagged ships came out, they had embarked US Navy and Marine Corps teams for secure communications and point defense against drones and fast boats. There are finite number of these teams so, they may be rotating to some of these ships
⚓️While this is working for oil tankers, the ship-to-ship transfers would not work for LNG, LPG, bulk carriers and containers. They would have to be escorted out to continue their voyages.
https://t.co/u1bmu63s46
Hats off to these Army aviators because if they were in the water for two hours, pulling themselves up onto a Corsair is not easy.
I do water rescue and that is not an easy embarkation with no one on board the Corsair.
I will assume they were able to climb onto the inboard/outboard mount of the engine.
The unmanned surface vessel, a Saronic Corsair, located the Apache crew, who had spent two hours in the waters off the coast of Oman and brought them to shore https://t.co/2ioXSuxX68 @jmalsin@shelbyholliday
Last night, an unmanned drone boat found two of our pilots floating in the waters off Oman and brought them home, marking the first time the U.S. has ever used an autonomous vessel for a real world rescue.
That happened because we made the decision years ago to invest in this technology, and kept investing even when the results weren’t visible yet.
China has already made that same bet at scale, with urgency, and without a doubt about whether it's worth it. Whoever wins the AI race controls how wars are fought, how fast decisions get made, and whether you can project power anywhere on earth without putting a crew in harm's way.
Last night was a glimpse of what winning looks like.
Most people saw a rescue, but I saw a weapons system, and a reminder of exactly how far behind we can't afford to fall.
REP Larson: Are we at war?
Bessent: The conflict has
Rep. Larson: The conflict? We're not at war?
Bessent: I can call the Secretary of War and ask! I'm the Treasury Secretary.
Following a gear collapse at the gate in Frankfurt, Lufthansa 787-9 D-ABPQ has been significantly damaged. Today’s LH450 has been canceled. We are awaiting more information on any potential injuries.
My #1 want all offseason was positional height
Kentucky’s rotation will include
6’4” Zoom Diallo
6’4” Jerone Morton
6’5” Alex Wilkins
6’7” Justin McBride
6’8” Kam Williams
6’8” Milan Momcilovic
6’9” Braydon Hawthorne
6’11” Ousmane N’Diaye
7’0” Malachi Moreno
7’0” Franck Kepnang
Here's Scott Pelley before his 60 Minutes interview with Biden in late 2023 letting everyone know that Biden's stutter can return when he's been working too hard.
I can't believe that 60 Minutes somehow missed Biden's decline. 😜