ThetaandGrit

Systematic options income 🏦 | 9yr $TSLA diamond hands 🐂 | CrossFit discipline builder 🏋️Strong body. Strong mindset. Strong portfolio.
Not financial advice.

[ThetaandGrit @jayminjems]

Most people separate fitness and money.
That’s the mistake.
The same discipline that builds a strong body builds consistent income in the market.
9 years holding $TSLA and 8 years of CrossFit taught me this. A thread 🧵

[ThetaandGrit @jayminjems]

The Musk trillionaire story isn't really about wealth. It's about the 2008 comparison nobody is making.

In December 2008, both Tesla and SpaceX were weeks from bankruptcy. Tesla had ~$9M in the bank. SpaceX had failed three Falcon 1 launches in a row. Musk was sleeping on the factory floor and borrowing rent money from friends. Multiple biographies confirm he was effectively broke on paper.

Eighteen years later, those same two companies are about to make him the first trillionaire in human history. SpaceX prices its IPO Friday at $1.77 trillion. Musk holds roughly $1.1 trillion in combined Tesla and SpaceX stakes.

The detail that matters: he didn't pivot. He didn't sell either company at the bottom. He didn't take the easy exit when it was offered.

WHY IT MATTERS FOR INVESTORS:
The same guy who held through near-bankruptcy at both companies is the same guy now telling shareholders to be patient through Optimus, Robotaxi, Starship, and FSD. The historical record on him eventually delivering, even years late and over budget, is significantly better than the public discourse suggests.

You don't have to like Musk. But $1 trillion in 18 years from two companies that were both effectively dead in 2008 is the most extreme outlier outcome in modern business history.

The patient capital that stayed long got rewarded. The reactive capital sold near the bottoms. Same lesson, same person, two different decades.

[ThetaandGrit @jayminjems]

The Musk trillionaire story isn't really about wealth. It's about the 2008 comparison nobody is making.

In December 2008, both Tesla and SpaceX were weeks from bankruptcy. Tesla had ~$9M in the bank. SpaceX had failed three Falcon 1 launches in a row. Musk was sleeping on the factory floor and borrowing rent money from friends. Multiple biographies confirm he was effectively broke on paper.

Eighteen years later, those same two companies are about to make him the first trillionaire in human history. SpaceX prices its IPO Friday at $1.77 trillion. Musk holds roughly $1.1 trillion in combined Tesla and SpaceX stakes.

The detail that matters: he didn't pivot. He didn't sell either company at the bottom. He didn't take the easy exit when it was offered.

WHY IT MATTERS FOR INVESTORS:
The same guy who held through near-bankruptcy at both companies is the same guy now telling shareholders to be patient through Optimus, Robotaxi, Starship, and FSD. The historical record on him eventually delivering, even years late and over budget, is significantly better than the public discourse suggests.

You don't have to like Musk. But $1 trillion in 18 years from two companies that were both effectively dead in 2008 is the most extreme outlier outcome in modern business history.

The patient capital that stayed long got rewarded. The reactive capital sold near the bottoms. Same lesson, same person, two different decades.

[ThetaandGrit @jayminjems]

The Musk trillionaire story isn't really about wealth. It's about the 2008 comparison nobody is making.

In December 2008, both Tesla and SpaceX were weeks from bankruptcy. Tesla had ~$9M in the bank. SpaceX had failed three Falcon 1 launches in a row. Musk was sleeping on the factory floor and borrowing rent money from friends. Multiple biographies confirm he was effectively broke on paper.

Eighteen years later, those same two companies are about to make him the first trillionaire in human history. SpaceX prices its IPO Friday at $1.77 trillion. Musk holds roughly $1.1 trillion in combined Tesla and SpaceX stakes.

The detail that matters: he didn't pivot. He didn't sell either company at the bottom. He didn't take the easy exit when it was offered.

WHY IT MATTERS FOR INVESTORS:
The same guy who held through near-bankruptcy at both companies is the same guy now telling shareholders to be patient through Optimus, Robotaxi, Starship, and FSD. The historical record on him eventually delivering, even years late and over budget, is significantly better than the public discourse suggests.

You don't have to like Musk. But $1 trillion in 18 years from two companies that were both effectively dead in 2008 is the most extreme outlier outcome in modern business history.

The patient capital that stayed long got rewarded. The reactive capital sold near the bottoms. Same lesson, same person, two different decades.

[ThetaandGrit @jayminjems]

The Musk trillionaire story isn't really about wealth. It's about the 2008 comparison nobody is making.

In December 2008, both Tesla and SpaceX were weeks from bankruptcy. Tesla had ~$9M in the bank. SpaceX had failed three Falcon 1 launches in a row. Musk was sleeping on the factory floor and borrowing rent money from friends. Multiple biographies confirm he was effectively broke on paper.

Eighteen years later, those same two companies are about to make him the first trillionaire in human history. SpaceX prices its IPO Friday at $1.77 trillion. Musk holds roughly $1.1 trillion in combined Tesla and SpaceX stakes.

The detail that matters: he didn't pivot. He didn't sell either company at the bottom. He didn't take the easy exit when it was offered.

WHY IT MATTERS FOR INVESTORS:
The same guy who held through near-bankruptcy at both companies is the same guy now telling shareholders to be patient through Optimus, Robotaxi, Starship, and FSD. The historical record on him eventually delivering, even years late and over budget, is significantly better than the public discourse suggests.

You don't have to like Musk. But $1 trillion in 18 years from two companies that were both effectively dead in 2008 is the most extreme outlier outcome in modern business history.

The patient capital that stayed long got rewarded. The reactive capital sold near the bottoms. Same lesson, same person, two different decades.

[ThetaandGrit @jayminjems]

The Musk trillionaire story isn't really about wealth. It's about the 2008 comparison nobody is making.

In December 2008, both Tesla and SpaceX were weeks from bankruptcy. Tesla had ~$9M in the bank. SpaceX had failed three Falcon 1 launches in a row. Musk was sleeping on the factory floor and borrowing rent money from friends. Multiple biographies confirm he was effectively broke on paper.

Eighteen years later, those same two companies are about to make him the first trillionaire in human history. SpaceX prices its IPO Friday at $1.77 trillion. Musk holds roughly $1.1 trillion in combined Tesla and SpaceX stakes.

The detail that matters: he didn't pivot. He didn't sell either company at the bottom. He didn't take the easy exit when it was offered.

WHY IT MATTERS FOR INVESTORS:
The same guy who held through near-bankruptcy at both companies is the same guy now telling shareholders to be patient through Optimus, Robotaxi, Starship, and FSD. The historical record on him eventually delivering, even years late and over budget, is significantly better than the public discourse suggests.

You don't have to like Musk. But $1 trillion in 18 years from two companies that were both effectively dead in 2008 is the most extreme outlier outcome in modern business history.

The patient capital that stayed long got rewarded. The reactive capital sold near the bottoms. Same lesson, same person, two different decades.

[ThetaandGrit @jayminjems]

Elon Musk's net worth is about to cross $1 trillion. Most people can't actually picture what that number means. Try this.

$1 trillion is greater than the entire 2024 GDP of Manhattan, the borough that houses Wall Street, most of corporate America, and several of the world's largest banks.

$1 trillion is more than the combined GDPs of Switzerland, Argentina, or Saudi Arabia in some years.

$1 trillion is roughly 2.4 times John D. Rockefeller's inflation-adjusted peak fortune. Rockefeller controlled the oil industry. Musk is on track to roughly double his record in nominal terms.

$1 trillion in $100 bills, stacked flat, would reach about 678 miles into the sky. That's the height of 78 Mount Everests stacked end to end.

WHY IT HAPPENED:
SpaceX prices its IPO Friday at $135, raising $75 billion at a $1.77 trillion valuation. It will be the biggest IPO in human history, beating Saudi Aramco's record by 2.5x. Musk's 42% economic stake plus his 82%+ voting control in SpaceX, combined with his Tesla holdings, crosses the line.

THE HONEST GROUNDING:
Every dollar of it is paper. Musk holds stock, not cash. The wealth moves with TSLA and SPCX in real time. SpaceX itself lost $2.6B from operations in 2025 on $18.7B revenue, and the AI unit alone burned $7.72B in just the first three months of 2026. The valuation prices a future that still needs to be executed.

The milestone is real. The risk is also real. Both are true at the same time, and that's the whole story.

[Kalshi @Kalshi]

BREAKING: Odds Elon Musk becomes the world’s first trillionaire hit 97% — an all-time high

[ThetaandGrit @jayminjems]

Elon Musk is about to become the first trillionaire in human history. Here's the math, with the verified numbers.

SpaceX IPO: $135 per share, 555.6M shares, ~$75B raised, $1.77T valuation. Listing June 12, ticker SPCX.

Musk's SpaceX stake per the updated prospectus: $866.5 billion on paper.
Tesla stake: ~$273 billion plus another ~$100B+ in options.

Total: $1.1 trillion in paper wealth, with voting control above 82% in SpaceX.

THE CAVEATS THAT MATTER:
Bloomberg's calculation puts him at $988B at the IPO price — just shy until SPCX trades up. CNN and Barron's both have him over $1T already. The number depends entirely on which method you use and where SPCX opens.

Even the trillion is paper. Musk hasn't sold shares. The figure moves with TSLA and SPCX every day. If either drops 10%, the title slips away. If either pops 10%, it gets locked in.

For context: John D. Rockefeller's inflation-adjusted peak was around $420B in today's dollars. Musk is about to roughly DOUBLE that in nominal terms. This isn't just a new record. It's a different scale of wealth entirely.

16 years after he took Tesla public, the second IPO is what minted the milestone.

[ThetaandGrit @jayminjems]

Elon Musk is about to become the first trillionaire in human history. Here's the math, with the verified numbers.

SpaceX IPO: $135 per share, 555.6M shares, ~$75B raised, $1.77T valuation. Listing June 12, ticker SPCX.

Musk's SpaceX stake per the updated prospectus: $866.5 billion on paper.
Tesla stake: ~$273 billion plus another ~$100B+ in options.

Total: $1.1 trillion in paper wealth, with voting control above 82% in SpaceX.

THE CAVEATS THAT MATTER:
Bloomberg's calculation puts him at $988B at the IPO price — just shy until SPCX trades up. CNN and Barron's both have him over $1T already. The number depends entirely on which method you use and where SPCX opens.

Even the trillion is paper. Musk hasn't sold shares. The figure moves with TSLA and SPCX every day. If either drops 10%, the title slips away. If either pops 10%, it gets locked in.

For context: John D. Rockefeller's inflation-adjusted peak was around $420B in today's dollars. Musk is about to roughly DOUBLE that in nominal terms. This isn't just a new record. It's a different scale of wealth entirely.

16 years after he took Tesla public, the second IPO is what minted the milestone.

[ThetaandGrit @jayminjems]

Elon Musk is about to become the first trillionaire in human history. Here's the math, with the verified numbers.

SpaceX IPO: $135 per share, 555.6M shares, ~$75B raised, $1.77T valuation. Listing June 12, ticker SPCX.

Musk's SpaceX stake per the updated prospectus: $866.5 billion on paper.
Tesla stake: ~$273 billion plus another ~$100B+ in options.

Total: $1.1 trillion in paper wealth, with voting control above 82% in SpaceX.

THE CAVEATS THAT MATTER:
Bloomberg's calculation puts him at $988B at the IPO price — just shy until SPCX trades up. CNN and Barron's both have him over $1T already. The number depends entirely on which method you use and where SPCX opens.

Even the trillion is paper. Musk hasn't sold shares. The figure moves with TSLA and SPCX every day. If either drops 10%, the title slips away. If either pops 10%, it gets locked in.

For context: John D. Rockefeller's inflation-adjusted peak was around $420B in today's dollars. Musk is about to roughly DOUBLE that in nominal terms. This isn't just a new record. It's a different scale of wealth entirely.

16 years after he took Tesla public, the second IPO is what minted the milestone.

[ThetaandGrit @jayminjems]

@Kalshi There we go

[ThetaandGrit @jayminjems]

@TrumpDailyPosts Wow

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.

[ThetaandGrit @jayminjems]

The story of today's $1T wipe-out in one line:

Stocks didn't get cheap. Bonds got expensive.

The 10-year Treasury yield blew above 4.5%. The 30-year cleared 5%. December rate-hike odds spiked to ~70% in a single morning, all because the May jobs report came in more than DOUBLE what economists expected (+172K vs +80K).

For richly valued growth stocks, those yield moves are kryptonite. Every percentage point higher on the 10-year compresses the discount rate that justifies tech multiples. Higher rates aren't slightly bad for AI semis trading at 40-50x forward earnings. They're directly mathematical.

THE PARADOX:
Today's sell-off was triggered by GOOD news. A strong labor market means companies are still hiring, consumers are still spending, and the economy is durable. That's structurally bullish for earnings.

But it's bearish for valuations. Bond yields rerate the entire equity complex.

This is the trap of 2026: every "good" data point gets read as "bad" for the Fed and therefore for stocks. Until the Fed pivots or growth genuinely slows, this is the volatility regime.

The patient capital learns to read both signals at once. Earnings up, multiples down, range-bound. Don't panic-sell quality compounders in a rate scare. Don't add aggressively into a hawkish print either. Position for the regime, not the headline.