Just wanted to add a small note on SpaceX and the insanity around it all. Paul Krugman and others have been dismissive of the value of SpaceX. Is it a meme stock? Is it a scam? I can’t say.
I can say this. The value of SpaceX allows Musk to deploy his Mongolian Horde approach (something I wrote about here). In short, Musk solves problems by throwing massive resources at a problem until he achieves his objectives. So if he wants xAI to be successful, he can buy Cursor or whatever else he needs for it to be successful. If that doesn’t work, he can keep burning through money and acquire what he needs to get to where he wants to go.
I can’t say he is going to be able to do this indefinitely, but I think he can do it a lot longer than people thing he can. If indeed he is a Ponzi scheme, I do not believe he is one in danger of collapsing any time soon. But let’s see!
Smart People I Know 