Great to be with Herbert yesterday to talk through what a fair Tesla-SpaceX merger price looks like. I ran my own numbers and landed in the same ballpark as Brad Gerstner. We covered why Elon can't sit on the special committees, how hard it is to find truly independent directors, and why Tesla holders should look closely at the SpaceX shares they'd receive, because that's their future. For me, the sooner these companies combine, the better.

1/ I've spent weeks building my own model of what SpaceX is worth, and my honest summary is huge risk with huge reward. Elon has pulled off the impossible before, but orbital data centers are a whole new level of endeavor. I’ve bet on him before (more than a few times, and he hasn’t failed yet.) Here's what I found. (My estimates, not advice.)

⚡ ELON VS AMBANI: INDIA'S SATCOM WAR EXPLODES OVER STARLINK! Elon Musk is taking on India's powerful telecom interests, accusing "oligarchs" of blocking Starlink. And he's asking: "Is Ambani the real boss of India?" Larry Goldberg and I would like to say: We told you this would happen! (Link to that chat in the next post) @TeslaLarry and I dig into TWO massive stories: 🔹 ELON VS AMBANI: Why is Starlink still unable to launch commercially in India? Is this really about national security, or are powerful incumbents protecting their turf? 🔹 SPACEX REVENUE EXPLOSION: Larry's analysis points to a staggering $12.1 BILLION Q3 base case, with upside to $13.6 BILLION, and a projected $19.7 BILLION Q4! Could SpaceX really be growing this fast? From India's telecom battle to SpaceX's extraordinary AI, Starlink and launch businesses, the stakes are enormous. 🚨 WATCH:

This is where the Matic happens I took @firstround on a tour of our HQ > Matic-themed movie posters > Furniture from Facebook Marketplace > A brand-new production line

There's an entirely new auto market being opened up by FSD. My wife and I moved into a retirement community last year, and we were joined by my brother and his wife. Our homes are almost next door to each other. Being longtime Tesla owners, we joined the EV group that meets once a month and shares information. I offered to talk about my experience with FSD, and they were excited to hear about it. So I prepared some slides and videos, freely purloined from the great material on X. The results were pretty astounding. The average monthly meetup usually had, perhaps, a couple of dozen people. Instead, the meeting notice talking about FSD drew a packed house of perhaps a hundred people, and we had to turn people away as the room was full. Well, that was last quarter's meeting. This quarter's meeting was held last week, to a significantly expanded group. And what did we hear? We heard about a couple that had stopped driving, their car sitting parked because they felt too unsure of themselves to drive. After my presentation, they traded in their vehicle for a Tesla with FSD, and now they are at about 97.5% on FSD and feel that they have been liberated. When I asked "why only 97.5%," they explained that the car lost its way in their underground parking garage (they live in the apartment section of the community). I explained that they could drop a pin on their actual parking spot rather than the address, and that may solve their problem. What struck me even more than the people who bought new Teslas after the presentation was how many seniors talked about their own FSD experience, and how many of them were achieving mid- to high-90% FSD driving. There was uniform enthusiasm for the product and for what it meant for them in their senior years. That matters in what is rapidly becoming an aging population.

Here is the prototypical remark to any post about Elon's wealth: made in complete ignorance, ignoring the fact that if Elon were to attempt to realize any reasonable proportion of it in order to "do good", that wealth would dissapear! A huge % of the value lies in his ownership!