One of the things that makes @SpaceX so valuable is how valuable it is. The Cursor acquisition costs materially less in dilution because of SpaceX’s high valuation.
SpaceX’s ability to do economically, strategically, and technologically accretive acquisitions is an important component of its value.
There is enormous value inherent to a company with a high value particularly when it is controlled by an entrepreneur that the most talented people want to work for and partner with.
Value begets value.
Talent begets talent.
Packing thousands of straws together basically creates a low-tech pixel screen.
Each straw acts as an independent light pathway, perfectly mimicking how data channels work.
My column this week on what Wall Street's cringemaking boosterism for the SpaceX IPO tells you about investment banking.
Comes with one of my favourite ever illustrations (I can take no credit) and one my my favourite ever subheadings (I demand the credit).
"This next song is an old Delta blues number, a mournful tune of hardship, loss, betrayal and deep despair, and it's called 'Where's My Fucking Dinner, Woman'"🔊🆙
- Bet on Strait of Hormuz closure, a black swan event they said could never happen because it would be so damaging to the global economy
- Be correct
- Make no money
- Markets have sharpest rally in financial history