Post B6h6OY2JaeBebQ9RxI by davidgerard@circumstances.run
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 (DIR) Post #B6h6OY2JaeBebQ9RxI by davidgerard@circumstances.run
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       i probably have to write about the spacex ipoi don't want to because then i'd have to even look at the 200pp S-1and it's bullshit. i know it's bullshit. everyone knows it's bullshit. SpaceX knows it's bullshit. the Elon fanboys definitely know it's bullshit and they're buying in anyway. it's purely decorative.the big problem is the stock index scam they've pulled, a reprehensible fraud.i'll probably hammer on that for a bitthe interesting bit is how little AI is involved. Grok doesn't have many users really. They had so much spare capacity they're renting it to Anthropic, their supposed competitor. Which also helps the numbers look less worse for the IPO.Twitter of course was turned into a basket case and the S-1 reveals allstarlink is actually profitable (at huge externalities). think of spacex as an ISP with baggage.the defense business has a solid revenue streamthe other part of the rocket business is elon doing dumb shit that blows upi can crib everyone else looking at the S-1 but as i've yelled at myself for the past 5 years, there's no substitute for reading the docsif i can digest 1200 pages of report on some crypto fraud into a comprehensible form then i can do thisfucken