So here's a crazy stat: Starship's upcoming 14th test flight next week, which will deliver 26 @Starlink V3 satellites to orbit for the first time, will increase the entire Starlink constellation capacity by 3%. It would take 10 Falcon 9 launches (277 V2 satellites) to add that same amount of capacity. Future Starship launches will eventually carry up to 60 next-gen Starlink V3 satellites, adding ~61,000 Gbps of network capacity in a single launch. That means each Starship launch will be able to deploy roughly as much Starlink capacity as 23 Falcon 9 launches combined - equivalent to about 640 V2 satellites.

Starship is the key to unlocking the next generation of the space economy SpaceX has increased payload capacity from 23 metric tons on Falcon 9 to 100 metric tons on the fully reusable Starship V3, with future versions designed to carry up to 200 metric tons More payload means bigger satellites, larger space stations, orbital infrastructure, lunar bases, deep-space spacecraft and entirely new industries that simply weren't economical before Starship is about to change the entire operating system of space travel

BREAKING: Deloitte’s new report projects a lunar economy worth up to $566 billion and highlights @SpaceX as a key player. The report says: • Elon Musk has shifted SpaceX’s focus toward building a self-growing city on the Moon • SpaceX has invested over $15 billion in Starship • Deloitte calls Starship the highest-capacity cislunar vehicle in development • Its newest version is designed to carry up to 100 metric tons to orbit • SpaceX is developing a crewed lunar lander • SpaceX requested approval for 1 million space-based computing satellites • Its plans include lunar factories capable of manufacturing and launching satellites directly from the Moon • Future businesses could include lunar manufacturing, surface energy and space-based AI computing Deloitte estimates: • $343B to $566B in cumulative economic value through 2050 • $209B to $282B from core lunar infrastructure • $134B to $284B from markets enabled by that infrastructure • An additional $541B in potential benefits from innovation, science and human inspiration • Transportation alone could be worth up to $205.7B • Resources and materials could reach $114.5B • In-space production could reach $105.9B • More than 400 lunar missions are planned over the next two decades.

SpaceX is currently targeting Starship Flight 14 for September 22 🚀 And this flight is a huge step beyond everything Starship has done so far Flight 14 will attempt to: • Reach stable Low Earth Orbit for the first time • Deploy production Starlink V3 satellites into orbit • Become Starship’s first revenue-generating mission • Attempt the full orbital mission profile from launch → deployment → deorbit → reentry • Push the V3 heat shield through another major test • Continue proving Raptor 3, guidance, landing burns and vehicle control needed for rapid reuse The hardware: • Super Heavy Booster 21 • Starship Ship 41 • Third flight of the Starship V3 architecture • 33 Raptor 3 engines on Super Heavy • 6 Raptor engines on Starship • Launching from Pad 2 at Starbase After liftoff, Super Heavy will separate from Starship, perform its boostback and return for a controlled ocean splashdown No tower catch is planned for Flight 14 The really big part happens with Ship 41 Instead of following another suborbital trajectory, Starship will continue into orbit Then it will deploy production Starlink V3 satellites into stable LEO That is a massive milestone by itself Flight 13 proved Starship could deploy V3 satellites in space....Flight 14 is the first time Starship is expected to actually leave production V3 satellites in orbit And these satellites are monsters Each Starlink V3 is designed for: • 1 Tbps of downlink capacity • 160 Gbps of uplink capacity • 2,048 beams in each direction • Six 400 Gbps laser links Eventually a single Starship will be able to carry up to 60 V3 satellites....adding around 60 Tbps of Starlink capacity in ONE launch Around 20× the downlink capacity deployed by a Falcon 9 Starlink launch After payload deployment, Ship 41 will perform its deorbit sequence and come back through the atmosphere That means another major test of: • The orbital heat shield • Flap control through reentry • Guidance during the return • Raptor relight • Landing flip and burn Ship 41 will then return for a controlled ocean splashdown And the next step is already lined up....Elon has confirmed Flight 15 is planned for the first attempt to bring Starship all the way back to the tower and catch it But Flight 14 comes first Reach orbit....Deploy real Starlink V3 satellites.....Come back through reentry This is where things start getting very real

Deployment confirmed. Atlas V has completed its final mission for Amazon Leo, and we've established contact with all 29 satellites in low Earth orbit. Next up with @ULAlaunch: The first of 38 Leo missions on its new Vulcan rocket, which will carry 40+ satellites per launch and support a higher cadence of Leo missions from SLC-41.

SIX NEW MACHINES ARE LIVE ON FLETCHER Today we are expanding the rip floor with six new gacha machines, including two categories Fletcher has never carried before. Completing the Pokémon ladder Two new tiers close the gaps in our existing lineup. Bronze at $100 sits between Elite and 151 & Friends. Hyper at $500 bridges Legendary and Grail. If you have been skipping a tier because the next step up was too large a jump, that step now exists. Both carry a 90 percent instant buyback. All-Star Sports at $500 Our sports lineup previously topped out at $250. It now runs to $500, backed by a 93 percent instant buyback, the same rate as our grail-tier Pokémon packs. Anime Pop Culture at $75 A new category and a deliberately accessible entry point, with more than 3,900 slabs in the pool. Watches, and this one is a first Two machines at $250 and $500, holding authenticated graded timepieces. This is the first vertical on Fletcher that is not a trading card, and it behaves exactly like everything else here: rip the pack, then claim the piece or sell it back instantly. Watch Elite carries a 93% buyback. We have also retired the Fire & Grass and Water $100 packs. Collector Crypt removed both from their catalog, so they are gone from ours. Six machines. Two new categories. Same rails, same guarantees.

Elon Musk just revealed that SpaceX is targeting its next Starship flight for the end of August, and it is going to power Starlink’s next major leap Flight 14 is expected to carry the first batch of upgraded Starlink V3 satellites to orbit • Around 10× more broadband capacity and data density per satellite • Up to 60 V3 satellites planned for future Starship launches • A possible first attempt to catch the Starship upper stage with the launch tower • The launch timing and catch attempt remain subject to regulatory approval Falcon 9 built Starlink into a network serving 12 million subscribers Starship will begin scaling that network at an entirely different level

Next week has one event on it and it is not ours. The FOMC decides on Wednesday the 16th at 14:00, and futures put a quarter-point rise at better than four chances in five. The range is 3.50 to 3.75 and has not moved all year, so this would be the first tightening of the cycle. The repricing followed Warsh at Jackson Hole, where he said the summer's better inflation prints did not show that the underlying trend had meaningfully improved. August CPI then printed 3.4%, with core up 0.3% on the month, a tenth above forecast. Retail sales land at 08:30 that same morning. That is the last data input, five and a half hours before the decision. Now the part that decides how to read the week. Fifty-nine companies report between Monday and Friday. I checked every one against our thirty names and not one of ours is on the list. The next is Micron on 30 September, from the company's own notice. No results, no product event, nothing at all from our side of the chain. So these names get priced by rates next week rather than by anything they do. Most of the pool trades on a long-duration multiple, which puts it in the front row for exactly this kind of move. Worth separating what a hike actually touches. I have spent this week reading fab schedules and supply agreements. SK Hynix with 38 billion dollars approved and no output before December 2028. Samsung's P5 in 2028. Micron's Idaho fabs in 2027 and late 2028. TSMC's packaging roadmap running out to 2029. Memory long-term agreements that already carry price ceilings. A quarter point moves none of those dates. It moves the rate at which you discount them. The week tests the multiple, not the thesis. Those are different things, and next week will tell you very little about the second one. Two handles if you want something other than macro. Oppenheimer runs an AI infrastructure conference in New York on Tuesday, and Wells Fargo takes investors around Texas power and gas on Wednesday and Thursday. Those are the only two places our lane speaks all week. Then keep the week after clear. ECOC opens in Málaga on the 20th, and that is where the optical supply chain says what it has been holding since Shenzhen. $NVDA $MU $SKHY $TSM