A bit of clarification--though I don’t think my circumstances are particularly interesting or consequential. That said, and regardless of the points below, the President is entitled to assemble the leadership team he believes will best serve his administration.
I have been relatively apolitical--a right-leaning moderate--and my political donations across both parties (though 10x more to Republicans) were disclosed in writing, with rationale, before my nomination was ever submitted to the Senate.
As for the perceived conflict--I only know Elon professionally, but having flown to space twice on SpaceX rockets, I have a firsthand appreciation for what he and his companies have accomplished. It is also worth pointing out that SpaceX remains the only way American astronauts have been able to travel to and from orbit since the Space Shuttle was retired in 2011. I hold no direct or indirect equity in SpaceX--or in any aerospace or defense company for that matter. Like all nominees, I signed an ethics letter and would have honored it.
Personally, I don’t regret anything--it was an honor to even be considered by the President. I loved DC and my brief time in the arena. The real disappointment is the time lost by Senators and staff who invested six months into a confirmation process that was ultimately withdrawn. This leaves NASA without a confirmed leader for what may stretch on for over a year. That is not ideal for the world’s most accomplished space agency--or for America--especially as our geopolitical rivals move at impressive speeds to overtake our edge in the high ground of space. Hopefully, a new nominee will emerge soon as NASA needs leadership during this uncertain time.
I have been lucky to live the American Dream and if you know anything about me--you know this was never about political ambition, personal gain or enriching others. I love my country and I care deeply about America’s competitiveness and leadership in space. 🇺🇸
World's first autonomous delivery of a car!
This Tesla drove itself from Gigafactory Texas to its new owner's home ~30min away — crossing parking lots, highways & the city to reach its new owner
If @tether went public TODAY, Tether would be the 19th largest company in the world at $515B.
That's ahead of Costco and Coca Cola.
Here's why:
- Circle is now public at $30B marketcap
- Our financial model has Circle at $410B EBITDA in 2025 or 69.3x EBITDA
- Tether claims $13B of net profits in 2024. $7B came from Treasuries and Repos -- the other $5B came from unrealized gains from Bitcoin and gold holdings which we don't include in EBITDA.
- We assume Tether grows USDT supply by adding another $50-$60B of USDT and avg USDT supply in 2025 is $170B with avg Fed Funds Rate of 4.2% implies ~$7.4B 2025 EBITDA.
- $7.4B of EBITDA * 69.3x EBITDA = $515B.
Of course our core assumption is using the 69.3x EBITDA $CRCL multiple which is insane and unlikely to hold up.
Sheesh.
So President Trump is publicly announcing Jared Isaacman donating to Democrats in the past is why he withdrew his nomination.
Seems like an excuse to me…
0.02% of the entire U.S. population works at Tesla—that’s about 70,000 people.
When you buy a @Tesla, you support these employees and their families. They receive stock as part of their compensation, build the #1 most American-made car, and are creating a better future for all.