Offloading to the Peasants
It’s what is needed before the steam runs out.
Oh, deary me. The “trust the science” crowd looks like they’re going to get raped again.
That $1.5 trillion valuation is about 2x bigger than JNJ, Exxon, and Mastercard.
Talking of the steam running out… the Magnificent 7 look to be faltering. Here’s the Mag 7 ETF. It looks like it is topping out.
The timing couldn’t be better. They need to prop up the market, so may as well offload to the peasants. Expect insane hype! I can just see it now.
Elon is going to build data centers in… wait for it… outer space. FFS, who believes this shit?
There’s always some catchy name to act as the lube for the extremely uncomfortable raping the peasants are about to receive. This time they’re calling it “orbital compute.”
We can’t get the energy here on earth to power all this nonsense. But sure, we are going to do it… in outer space!
The well-known short seller Jim Chanos is betting it all collapses. I don’t know if he is proven correct or not, but I do know that I want to steer well clear of investing in this stuff.
BTW, I (Brad) saw a bizarre occurrence over the skies of Victoria, Australia on 9 December at about 10 p.m. — a line of shining objects moving quite quickly. No, it wasn’t a close encounter. Rather a string of SpaceX satellites, which had just been launched from a rocket (I presume). This photo was taken from my iPhone.
Rather spectacular to say the least!
We take our hat off to what Elon has been able to achieve, and we use Starlink ourselves!
Now, how to value something like this? It’s beyond us, but we do know that IPOs occur on the back of popular investment themes. And we have been around long enough to know that investors don’t get well rewarded for investing in stuff that is popular or considered to be great investments.