spacex
Every Platform Is a Filter. The Trick Is Knowing When to Enter One.
Spotify just opened a new set of studios in Hollywood, and the pitch is straightforward: video podcasts, professionally produced, at scale. On the surface this reads as diversification, an audio company adding a camera. Underneath, something more interesting is happening. $SPOT isn’t adding a product line. It’s testing whether the thing that made it valuable,…
The Honest Guess
A best guess that knows it is a guess is worth more than a certainty that does not know it is wrong. That is the whole argument, and it showed up twice this week in the places building these systems, and once, in the opposite direction, in the place pricing them. The engineers are teaching…
When Making Things Gets Cheap, the Money Runs to What Can’t Be Faked
$75 billion. That is what SpaceX raised this week, the largest public offering anyone has ever recorded. Not a valuation, not a paper number, but actual capital, handed over, in exchange for a slice of a company that builds and lands rockets. It is a strange amount to absorb in a single sitting. It is…