SpaceX's 11th employee just became a billionaire.
Gwynne Shotwell joined SpaceX in 2002. She was employee number 11, joining as VP of Business Development before the company had proven a single rocket could fly.
She didn't even go there looking for a job. She had taken a colleague to lunch to celebrate him leaving for SpaceX, ran into Musk at the restaurant, and got interviewed on the spot. A week later, she joined him.
Her job: sell rocket launches for a company nobody had heard of. She built the Falcon vehicle manifest to over $5 billion in commercial contracts. She managed SpaceX's growth to 22,000 employees. She was the one who told NASA, the Air Force, and paying commercial customers why SpaceX could get to orbit cheaper and faster than anyone before it.
She was also the one who said no to going public for years. "I wasn't sure the company would go public," she said on CNBC yesterday. She resisted the pressure because she believed the public markets would force SpaceX into quarterly thinking, which would kill the mission.
She finally decided it was time. "I do not want to focus on quarterly earnings," she said on IPO day. "What we're doing is very futuristic."
Her stake is now worth north of $1.3 billion. She's SpaceX's fifth-largest Class A shareholder.
The 24 years of operational work that made yesterday possible have Gwynne Shotwell's fingerprints on them.
A man who worked at SpaceX for 10 years moved to the US from Mexico in 2015 and took a welding contract at SpaceX for $28 an hour. He's now a supervisor.
He received $10,000 in stock plus payroll deductions to buy more, and he did exactly that. Despite achieving the American Dream, he says he isn't going to stop.
He's one of 4,400 SpaceX employees who became overnight millionaires with the IPO.
Ægte socialisme: Med børsnoteringen af @SpaceX gjorde Elon Musk 4.400 mennesker til dollar-millionærer. Blandt dem var svejsere, teknikere og kantinepersonel, der gennem årene har modtaget aktieoptioner som en del af deres løn for at arbejde i SpaceX.
Det er nemlig sådan, ægte socialisme ser ud. Ejer man en aktie, ejer man nemlig en andel af firmaet eller "produktionsmidlerne", som marxisterne kalder det. Aktiemarkedet er kollektiv eje af produktionsmidlerne. Tag den Karl Marx.
This is Epstein survivor and Trump's "ex-girlfriend" Anouska De Georgiou. She is a British woman who was groomed and raped by Epstein as a teen. In 1997, Ghislaine Maxwell gave 20yo Anouska to 51yo Trump who immediately moved her into one of his apartments and publicly introduced her as his new girlfriend.
Kære Pelle Dragsted
Du har gennem hele din karriere udstrålet en næsten rituel irritation over rige mennesker – og særligt over Elon Musk, som nu har overskredet trillionær-grænsen.
Måske kunne du gøre os alle den tjeneste at svare på et enkelt, konkret spørgsmål: Hvad har du egentlig skabt?Ikke hvad du har kritiseret, demonstreret imod, fordømt eller krævet andre skal betale for. Men hvad har du selv bygget, opfundet, startet eller skabt af værdi, som ikke var her før dig?
Jeg ved godt, du har tilbragt årtier med at råbe om samfundets urimeligheder. Det er prisværdigt at påpege problemer. Men at pege på andres succes og kalde det uretfærdighed er ikke at skabe. Det er blot at skabe sig.
Og det er en forskel, selv en professionel kritiker burde kunne forstå.
Elon Musk: There are no lords and peasants at Tesla. Everyone eats at the same table.
“I actually know the people on the line, because I worked on the line, I walked the line, I slept in the factory, and I worked beside them. So, I'm no stranger to them.
There are many people at Tesla who have gone from working on the line to being in senior management. There are no lords and peasants. Everyone eats at the same table. Everyone parks in the same parking lot.
At GM, there's a special elevator only for senior executives. We have no such thing at Tesla.
We give everyone stock options. Many people who are just working the line, who didn't even know what stocks were, we've made them millionaires.
And I just want to say that I'm incredibly appreciative of those who build the cars, and they know it.”
New York Times DealBook Summit, 2023
And speaking of the ECB, sorry, the Bundesbank, they still project 0.8% annual growth in 2026 (despite yesterday's updates), which, as far as I can calculate, will require roughly three quarters of 0.5% growth following the contraction in Q1.
I will let you decide for yourself whether you find that assumption realistic given the Eurozone's hit rate of reaching 0.5% quarterly growth in recent years, but those growth assumptions play a major role in understanding the ECB's inflation view.
I will take the under any day, and reiterate that Lagarde's vibe yesterday had a certain Comical Ali element to it.
A Scandinavian economist once boasted to Milton Friedman:
“In Scandinavia, we have no poverty.”
Friedman replied:
“That’s interesting, because in America, among Scandinavians, we have no poverty, either.”
🗣️ PSG başkanı Nasser-Al Khealifi: "Luis Enrique, 8 ay boyunca tesislerde kaldı. Eve gitmiyordu ve sabah 8'den akşam 9'a kadar çalışıyordu!
Artık delirdiğini düşünüp korkmaya başlamıştık."
Today, it is Sweden's national day, where they celebrate 503 years of being independent from Denmark. Congratulations, I suppose.
Norway's national day is also a celebration of being independent from Denmark. So is Iceland's national day. I guess, bascially, Denmark is the England of the North and Nordic countries love not being united.
The only Nordic country that does not have independence from Denmark as its national day, is Finland because they celebrate independence from Russia 👏
Denmark's own national day is the date that we got democracy in 1849. We were not ruled by anyone else so we can not celebrate independence.
Every single DDAY anniversary I think about this footage from Omaha beach and the soldier that goes down on the left hand side of the frame.
Who was he?
What unit was he in?
Did he survive?
What did he believe in?
Was he a Christian?
Where was he from?
What would he think of the world today?
If he didn’t survive I hope he didn’t suffer.
trump’s biggest foreign policy miscalculations have come from underestimating other countries; whether friends (ukraine), competitors (china), or adversaries (iran).
Jeg er simpelthen helt vild med 'Eksperimentet i Tingbjerg'. Der er så mange, mange fantastiske momenter af sublim og næsten grænsesatirisk karakter.
Min egen favorit er, da en af udflytterne, som alle er venstreorienterede fra Nørrebro, der har købt underprissatte rækkehuse i Tingbjerg, belærer en pædagog i den lokale børnehave om, hvorfor det faktisk er ok problematisk, at nogle af børnene bruger ordet "indianer".
Det, jeg elsker allermest, er blikket hos børnehavelederen, imens hun bliver belært om dette og efter bedste evne prøver at tale tilflytteren efter munden.
Jeg ved det selvsagt ikke, men jeg vil gætte på, at børnehavelederen kunne holde en tale à la Rutger Hauers "Battleships on the shoulder of Orion" fra Blade Runner - bare om alt, hun har set af relativt komplekse og meget reelle og konkrete integrationsrelaterede problemer på børnehaveniveau i udsatte boligområder.
Men der sidder hun så og bliver belært om, at 3-4-årige børn, pga. den postkoloniale arv eller whatever, altså ikke bør sige indianer - hvilket formodentlig er omtrent den eneste etnicitet, der faktisk ikke findes inden for en ca. 200 meters radius.
Anyway, der er så mange herlige øjeblikke - spørgsmål om ligestillingspolitik og antallet af queer-børn på den lokale folkeskole (ingen, viser det sig), kuldsejlede drømme om pop-up-upcyclingbutikker samt indvandrere, der mener, at tilflyttere skal holde sig væk fra deres kvarter og tage til Jylland i stedet, og meget, meget andet.
Stærkt anbefalet.
Denmark is likely not the first place you visit in Europe. But it is an extremely safe and very pleasant country to visit in the summer with average day time temperatures of 20 degrees, 17+ hours of daylight and tons of places to visit.
Here is my top 10
1. Copenhagen
The stock market is in what I believe is a historic,final parabolic leg of a 44 yr secular bull market.I am raising some of my targets as follows: SPX 10,000, Nasdaq Comp 36,000, DJIA 67,000, RUT 4000, QQQ 950, SMH 800, gold $7000 & silver $200. My other targets remain unchanged.