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Business, Economics, and Taxes: Eat Cereal for Dinner

Handyman said:

Thomas Hansen (@thomashansen.bsky.social)

Starlink’s Numbers Could Bring SpaceX’s Valuation Crashing Down SpaceX too could face a reckoning, with the upside for Starlink not as high as investors seem to be betting. As with Tesla, it’s a question of how much they’re buying into Musk’s grand vision and willingness to overlook financials...
bsky.app bsky.app

I read some breakdowns of SpaceX beyond this...they are in serious trouble.
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In related business news, Blue Origin is starting to launch their own satellite communication network. I hear it should be operating in 2026.

I will pat myself on the back for one thing I observed when their larger rockets were failing a lot in areas that SX was already good at- the claim of fast failure progress being better is really freaking expensive. And I think the costs they are claiming are very wrong given the number of craft they are destroying.
 
Slap Shot said:



Yeah he's such a student of the Art of the Deal that he filed for bankruptcy (4?) times and has had more businesses fold than he has fingers. If the behind the scenes contributors to The Apprentice said he was a complete fraud when it came to real world business matters.
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It’s peculiar the people who say they want to run government like a business never actually try to make it profitable. In fact their biggest goal is always lowering the largest revenue stream.
 
aparch said:
"Let's go live to our reporter for an update on today's Stock Market..."
View attachment 358
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Well when you have 125% tariffs on one of the 3 biggest economies in the world that tends to happen. I have a buddy that works in exporting...he said China basically told people looking for licenses "feel free to apply, but don't hold your breathe".

I read a breakdown that basically said the China tariff being so high offsets him ending all of the other tariffs combined.
 
MichVandal said:
In related business news, Blue Origin is starting to launch their own satellite communication network. I hear it should be operating in 2026.

I will pat myself on the back for one thing I observed when their larger rockets were failing a lot in areas that SX was already good at- the claim of fast failure progress being better is really freaking expensive. And I think the costs they are claiming are very wrong given the number of craft they are destroying.
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The death knell is Starship. They have blown billions on that and it is nowhere near ready. Even better...if I remember correctly the biggest user of SpaceX is...Starlink. Remind me who owns that again?
 
Handyman said:
The death knell is Starship. They have blown billions on that and it is nowhere near ready. Even better...if I remember correctly the biggest user of SpaceX is...Starlink. Remind me who owns that again?
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I linked an article, and I know there's a few more since, and yep. SpaceX is part of a house of cards proping up the Musk empire. The over inflated Tesla stock he sells is routinely funneled into SpaceX for their working capital.

Starship has had eight flights, zero orbits of Earth, and is currently the *sole* lander for the NASA Artimis Moon landing plans.

I don't know all the history of eary NASA efforts, but I don't remember any program having the spectacular burn rate of failures like Starship has had.

At least Starliner made it to orbit.
 
aparch said:
I linked an article, and I know there's a few more since, and yep. SpaceX is part of a house of cards proping up the Musk empire. The over inflated Tesla stock he sells is routinely funneled into SpaceX for their working capital.

Starship has had eight flights, zero orbits of Earth, and is currently the *sole* lander for the NASA Artimis Moon landing plans.

I don't know all the history of eary NASA efforts, but I don't remember any program having the spectacular burn rate of failures like Starship has had.

At least Starliner made it to orbit.
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Maybe it was your link I read...so tough to remember ;)

Another issue is, the demand for rockets to be able to do what SpaceX is pushing is rather low and dropping every year. The new rockets are still not safe enough and there is really no need for them. The old rockets work much better and are safer, but are nothing special as they were originally designed by NASA like 25 years ago.

If we had a functional DOJ and Financial Crimes sector he would be in all sorts of trouble. I mean this is a Ponzi Scheme topped off by a Pyramid Scheme with some accounting fraud and insider trading on top of it.

At least Europe is fining him a billion dollars for the crap X and Tesla do...
 
ticapnews said:
In case you were afraid you'd never get to experience a classic rug pull because you don't do crypto....

Time to reshort the market...
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Up 50% today as people realize a 125% tariff on Chinese goods isn't such a good idea...

Just remember that the market is not being manipulated for your benefit and a rug pull can happen at any time. Better than an E ticket ride at Disneyland Screenshot_20240517-122132-591.png
 
Someone on Wallstreetbets called all of this “Steiner Tariff Math” and called Dump “Big Poppa Pump N Dump” and now I can’t stop laughing.
 
Someone on Wallstreetbets called all of this “Steiner Tariff Math” and called Dump “Big Poppa Pump N Dump” and now I can’t stop laughing.
 
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Jon Cooper (@joncooper-us.bsky.social)

Dow tumbles 2,000 points today after the White House clarified that its tariff on all Chinese goods was at least 145% — even higher than previously believed. #TrumpTariffs #TrumpMarketCrash
bsky.app bsky.app

currently it is only down 1300.

edit: 13 minutes later and its back to -1900 and the volatility index is skyrocketing!
 
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Aaron Rupar (@atrupar.com)

Trump: "There will be a transition cost and transition problems."
bsky.app bsky.app

So I assume this will get nonstop coverage right...I mean he is basically admitting (again) things are going to be painful. I assume lots of op-eds and wall to wall coverage?

Oh wait, the Times has an op-ed by noted clownshow Ross Douthat saying why this might all be good.
 
He's such a stable genius. He always knows exactly what he's doing. That is, he knows right after he asks his billionaire friends what he should do so that they can all make bank.

The thing is, even if you think the market is overvalued, it didn't have to be crashed chaotically. We could have undergone a normal cycle of contraction & corrections. This is a deliberate calculation by the oligarchs to bend 98% of the country over their desks and let us have it, good and hard.
 
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