And, please, merge even faster. Now losing time on stupid discussions of Joint Venture details is catastrophic. Negotiate a generous offer and let's get this over with. We need a very convincing shareholder vote result. The sooner, the better.

🗳️👑 Nordnet will do an exception for Tesla Retail Shareholders again. We did it again! All power to us! Thanks @TorkildJohansen to get me started. An thanks to @NordnetAxel for always being helpful. @travisraxelrod

In case you want to move (or decide where you build your next building site): Here's a US map highlighting the states with a Republican Governor and both Republican Sentators. Bright red = projected Republican governor + two Republican senators Gold/orange = still close / projected leans (Mississippi, Montana, Nebraska)

Can a Merger still happen? Started saying it in April, and below again in July: "An early announcement would occur under the current political and regulatory climate… The November midterms could alter the composition of the House or Senate. … Waiting therefore carries political uncertainty that does not exist today." Now we have it. But: Congress cannot simply veto a private merger. Core hurdles remain our shareholder vote, special-committee processes, antitrust review (which is primarily under the executive branch, still controlled by Trump through early 2029), SEC rules, and any national-security/CFIUS angles. A Democratic House (and possibly Senate) raises the temperature for hearings, subpoenas, contract scrutiny, and political pressure, but it does not create a formal blocking mechanism on its own. In short: the midterm outcome validates the political risk that I highlighted and makes a clean, low-scrutiny path less likely. It does not, by itself, put the merger off the table. The next concrete markers remain the work of the special committees, any disclosures ahead of Tesla’s annual meeting on Dec 3, and formal terms if/when they emerge.

⚖️ DE Chancery Court Remember when Zuck was "being convinced" to let Meta stay in Delaware and that old lawsuit got settled? Well, not sure he has no regrets now: Meta shareholders (Steamfitters Local 449 Pension Fund; Steamfitters Local 449 Retirement Security Fund; Bruce Taylor and Ronald Mumme; Grok tells me that all of these hold together less than 0.1% of outstanding shares) sued in the Chancery Court to stop a plan creating new non-voting Class C shares that every stockholder would receive. The plan would let Mark Zuckerberg sell roughly $24 billion worth of stock right away (and more over time) to cover a possible California wealth tax without giving up his roughly 60% voting control of Meta.⁠ The investors say Zuckerberg pressured Meta’s board to approve the structure so he could cash out while keeping power; they want a judge to block it before the new shares start trading in January 2027. Well, well, well ...

Had lunch today with @RealMicahLamar , a fun story: In 2014 when we applied for our E2 Investor Visa I needed to show an office. Rented and equipped one, but once here realized it was too big for our needs, so looked for someone to take it over. That's when I met Micah, who had growing needs for what was then Apple Trader. Now his firm is called super interesting fintech platform for stocks and options trading. Their core product is the world's fastest stock backtester: traders can instantly test indicators and see batting average, risk-reward, annual returns, and more. Those backtested strategies get ranked and become discoverable by the whole community. Anyway, all this to say, I think Micah is a great follow. And thanks for the sushi 🍣❤️

🗳️ A merger needs 50%+1 of all outstanding Tesla shares. Not of the votes that are cast. Elon’s free shares vote FOR. The mirrors amplify that. A large ISS/Glass Lewis block will almost certainly vote against. And historically ~30% of non-Elon shares don’t vote at all. That leaves us with just over 7 out of every 10 votes cast have to be FOR — just to clear the line. More for a decisive win. Here’s the step-by-step math, the historical turnout table, and the residual support scenarios:

The latest SEC filing shows Tesla's communication for votes of the Dec 3 annual shareholder meeting. 😏 Sure looks like we are building a Terafab, doesn't it? ->

through the Fort Worth Stockyards on the way home. Robotaxi was smooth and uneventful. Great job Tesla! @robotaxi @aelluswamy @elonmusk @CernBasher @pbeisel @herbertong @TeslaBoomerMama @wholemars

I am getting doubtful whether we will ever see a deal. Went from fully convinced in July, to 85% in October, and am sitting now at @ 50% certainty. It has to be a very good deal, in order to pass the shareholder vote on Tesla's side. A bad proposal will harm both Tesla and SpaceX. Tesla shareholders are giving up voting rights, which mean a lot to institutions (and ISS and Glass Lewis). They can only overcome this with an offer where it would be irresponsible for the fiduciary duty to not accept it. Will SpaceX's Special Committee understand the value of Tesla? And the enormous run up that SpaceX early investors and employees already had, compared to Tesla employees? And let me say it again: if SpaceX's near term future is as bright as we all see it, giving Tesla a $690 floor is a no-brainer. Shareholder vote ✅, Trading range up to closing ✅, S&P inclusion day ✅, Closing ✅

Why hasn't Tesla "priced in" a SpaceX-deal premium? Short version: there is still no deal to price — no ratio, no proxy, no announced terms. Markets discount odds and timing; arbitrage usually waits for the announcement. Longer version for Slice members → Not financial advice.

I agree that Cramer should confront Carl on things like this. But, I'd caution everyone about this Boost rumor. SpaceX already bought Boost's 5G spectrum. Boost/Echostar sold it to SpaceX and AT&T after abandoning the build out of their own 5G network. The terrestrial assets were lost when the Echostar entity that owned them went into bankruptcy. (Companies like American Tower took the assets out of the bankruptcy proceedings). Boost has 7.4 million customers and a cloud based management platform. Not much else. AT&T carries almost all of their traffic (with some going to TMobile in weak AT&T areas). And AT&T would have to approve the transfer of the carriage contract to SpaceX. Which would be a big roadblock.

SpaceX Special Committee, are you listening? Here we go: 1. Custom AI chips and the real-world data loop are the core. We designed the silicon, we own the fleet data, and no one else has that closed system. 2. Dojo is our own training stack. It lets us iterate on our data without waiting in line for someone else’s GPUs. 3. Optimus uses the same models. If it works on Earth it generates cash and tech we can use elsewhere. 4. Energy storage is already real infrastructure. Megapacks power grids today; the same systems matter for launch sites and Starlink. 5. We know how to manufacture at volume and drive costs down. That learning curve is hard to buy. 6. Robotaxi turns the existing cars into a software business with almost no extra capital once autonomy is unsupervised. 7. The car and energy businesses throw off cash now. That cash de-risks the longer bets. 8. Shared AI talent and compute across the companies avoids doing the same work twice. 9. Our shareholder mix gives liquidity and a retail base SpaceX does not yet have. Useful when you need to raise or when you want multiples. 10. Elon's voting rights. Do I need to say more? He deserves the key to the empire, which comes at a price. Bottom line: Tesla is an AI, energy, and robotics platform with its own silicon and data. Combined with you, it is a more complete company than either one alone. Let's do it, don't look at the pennies. Look at the future.

Merger Hear me out, please. There is a very high chance (not 100% though) that if a merger proposal is announced, it will be based on the two closing prices of Oct 20, 2026. When in the SPCX earnings call Elon announced the 2 special committees. Argument is that all price movement thereafter has merger speculation included. Below is a chart of the presentation I gave Friday on Slice. There were some more nuggets in there, will publish all here on X latest Friday.