It is the difference in culture. In big cities, Japan doesn’t tolerate public deviance. Police are visible in every block. They are very strict about weapons; you can’t bring a knife in public for no reason etc.
They also have a culture of enduring things in silence for the greater collective good. For instance, most girls and women will have stories of harassment, especially by men on crowded trains but almost none of them will do anything about it.
At $1.75 trillion, you'd be paying about 56 times SpaceX's 2025 revenue (7) (over $18.5 billion) or 109 times its EBITDA, even if you are super-optimistic about its growth. That's a lot, considering that even Nvidia, at its wild AI peak, traded at 15-20x revenue, making SpaceX is even more aggressive with its ask. Retail folks could end up buying high into hype that crashes if Starlink or xAI stumbles.
Third, the losses don't disappear at listing. The $5 billion figure, whether it's attached to xAI or not, is still real. The subsidiary is still burning roughly $28 million a day. And until SpaceX can translate that spending into revenue, either through Grok's commercial growth or the orbital data center thesis, xAI is still dragging SpaceX.
Blaming all the losses on xAI makes my hair stand on end. It's way too convenient a place to bury aggressive accounting in other areas: Falcon 9 booster reusability is a nice story, but the cost of refurbishment is easy to game. Starlink subscriber numbers aren't going to support replacing 9000 satellites. Unlike a software business with a simple scaling path, the math doesn't support going from EBITDA to GAAP profit.
Even as Musk hater I am grudgingly willing to admit that there is reasonable business in SpaceX. But it ain't any time soon a trillion dollar one. And I even question starship propaganda. Sadly we just are not in era where profitable business answering to organic growth of demand is seen desirable...
Like Falcon 9, Tesla's charging business is a real business. Seemingly well run. But impossible to evaluate when baked into the fruitcake of overhyped Elon companies. And even if it's all true, those businesses still don't come close to supporting the overall valuation.
Deliver me, O LORD, from evil men; preserve me from violent men,
From those who devise evil in their hearts, and stir up wars every day.
Save me, O LORD, from the hands of the wicked; preserve me from violent men Who plan to trip up my feet. The proud who have hidden a trap for me; They have spread cords for a net. By the wayside they have laid snares for me
Grant not, O LORD, the desires of the wicked; further not their plans. Those who surround me lift up their heads; may the mischief which they threaten overwhelm them.
I know that the LORD renders justice to the afflicted, judgment to the poor. Surely the just shall give thanks to your name; the upright shall dwell in your presence.
At this point I equate the Agile Manifesto to the Communist Manifesto. Sounds nice when you read it; in practice it is an absurd endless source of suffering.
By design most education is mediocre at best. The standardized high stakes testing regime of NCLB exposed public schooling for what it was. For the majority, it was their version of leetcode. Learning to become an academic trained performer. Not unlike a circus acrobat.
With the rise of LLM, we are questioning the wisdom of public schooling as currently taught.
Ideally, with AI, schooling will no longer require standardized textbooks, lesson plans, and testing. With this technology, customized instruction and guidance will be made for each student. As it evaluates their basic knowledge daily. The hope is with this grunt teaching becoming more automated, actual critical thinking and dialogue will take place in the classroom.
As a Catholic, I understood the reference to Avignon Papacy to mean the US will create a separate papacy, distinct from Leo and under the control of Trump.
I think that you are correct. I was looking for this in the comments.
At that period in history, the French kingdom (catholic) was at war with the Spanish kingdom (also catholic) and Italian kingdoms/duchies. A pope had immense political power because of the fervor of the people. If the pope excommunicated a king, he would lose a lot of power in his kingdom and all catholic countries would have a good reason to declare war. Hence, the strategical relocation of "a" pope in the city of Avignon, under French "protection".
I believe the threat is to "protect" a new pope in the US. Whether catholic (maybe other christian denominations) Americans would support it...
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