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Joined 7 months ago
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Cake day: November 5th, 2025

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  • That’s because it bloody is.

    They’ve got one business unit making money (and to be fair, that business unit is making crazy margins) - Starlink - and one business that could be profitable if it turn down the starship R&D. But it’s so crazily leaning into “AI in space” for its insane multiples - and leaning in to achieving a dominant position there, when both China, Japan and other US companies are prepping reusable launch vehicles.

    I wouldn’t touch it with a barge pole and if I could blacklist it in my passive fund I would. That said mine follows the FTSE Russel Global index, which only rebalances every 6 months and with much stricter requirements than the fast-follow Nasdaq funds, so by the time any passive investment of mine jumps on SpaceX its real value will be much more apparent.




  • I’m not sure they are lying. Yes, they’re not E2E but I don’t think they claim to be by default, do they?

    I’ve got a large group of friends there, since high school. We presume everything we write is available to the Russians so we never talk work details or share secrets. It would be insane otherwise.

    We’ve tried to organise a move to Signal, but honestly its client is nowhere near as polished or feature rich as Telegram.





  • Not just that - it confuses several financial terms.

    CAPEX is one time spend. Revenue is recurring. Take Microsoft, as just one example: They are stuffed with cash abroad - they only bring it home when there’s a moratorium; until then it just sits and waits. It’s much cheaper for Microsoft to spend it outside the US than to take it home - CAPEX that can happen outside the US is often welcomed by the big stock owners as it puts the money to work.

    Revenue happens every year. It’s like saying “is this banana stand profitable?” and then answering by saying “well the shed cost 10 dollars and the bananas sell for 5c”. You need more information to understand whether those are good or bad numbers.

    And I know - there’s always money in the banana stand!