All posts tagged: Musks

Coinbase Launches Pre-IPO Perps, Starting With Elon Musk’s SpaceX

Coinbase Launches Pre-IPO Perps, Starting With Elon Musk’s SpaceX

Published by Jenni Sidey

Authored by Ryan Gladwin via Decrypt.co, Cryptocurrency exchange Coinbase is rolling out a perpetual futures product for pre-initial public offering (IPO) companies, allowing traders to speculate on a company’s valuation before its debut. The first pre-IPO company to be traded on the platform is Elon Musk’s aerospace company, SpaceX. The SpaceX pre-IPO will be settled using the USDC stablecoin, can be traded 24/7, and all positions will automatically translate when the IPO is complete. That means traders could make massive profits or losses depending on the difference between the pre-IPO valuation and the debut stock price. “Pre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and to help with price discovery,” Brian Armstrong, co-founder and CEO at Coinbase, tweeted. It is worth noting that the pre-IPO perp product is not available for users from the United States. The Coinbase blog post explained that more pre-IPO listings will be announced “soon,” including companies in technology, AI, energy, and space. Pre-IPO perps are great to get exposure to …

A SpaceX/Tesla merger could trigger Musk’s T pay package automatically

A SpaceX/Tesla merger could trigger Musk’s $1T pay package automatically

Published by skeptic

SpaceX has a big IPO coming up, but the next step might be a merger of SpaceX and Tesla. And if so, it could be a backdoor to triggering Elon Musk’s trillion-dollar pay package automatically, without having to meet any of the operational milestones, thus diluting everyone’s shares without delivering on the promises that were made. Late last year, Tesla shareholders voted on the largest CEO pay package ever, orders of magnitude higher than the second-largest ever (which was also for Musk, and also an order of magnitude larger than the third-largest). The package was utterly ridiculous in its design, but the marketing effort put on by Tesla to convince shareholders to vote for it succeeded, and the measure passed. Despite that it will dilute shareholders and retain a bad CEO who has overseen – er, uh, been distracted by being racist on twitter during – the company’s falling sales, enough reasonable people seem to have already sold their shares that the ones who remain were gullible enough to make this bad decision. But the …

Tesla (TSLA) and SpaceX merger would be Musk’s 4th billion-dollar self-deal

Tesla (TSLA) and SpaceX merger would be Musk’s 4th billion-dollar self-deal

Published by skeptic

Elon Musk is reportedly floating the idea of merging Tesla (TSLA) and SpaceX, just weeks before SpaceX’s massive IPO on the Nasdaq. If it happens, this would literally be the fourth time Musk has orchestrated a billion-dollar transaction between companies he controls. No one in corporate America is doing this at the scale Musk is. Between SolarCity, Twitter/X, and xAI, Musk has built a playbook for self-dealing that is unprecedented — and now he’s gearing up for the biggest one yet. The latest merger talk According to CNBC, Musk has discussed with colleagues the possibility of folding Tesla and SpaceX together. The timing is notable: SpaceX filed its S-1 on May 20 and is expected to start trading on the Nasdaq under the ticker SPCX on June 12, targeting a valuation of up to $1.75 trillion and a raise of approximately $75 billion — the largest IPO in history. Tesla’s market cap currently sits around $1.6 trillion, meaning a combined entity could be worth over $3 trillion. Wedbush analyst Dan Ives has put the odds …

The Real Lesson of Elon Musk’s Outrage at Christopher Nolan

The Real Lesson of Elon Musk’s Outrage at Christopher Nolan

Published by Sam Flores

A beautiful movie star is cast in a beloved story. The character is fictional—she isn’t even fully human. Nonetheless, activists and purists insist that the actor is the wrong race. I’m speaking of Scarlett Johansson in Ghost in the Shell, the 2017 film adaptation of a popular Japanese manga series. Critics accused the movie’s creators of “whitewashing” the heroine, a cyborg whose physical form is entirely prosthetic and whose race and gender are, in fact, mutable. She’s implanted with the consciousness of a Japanese woman, but her memories have been suppressed and edited. The story is an examination of how unstable identity is, and how untethered it can be from the body. Yet for detractors, the politics of representation—the simple fact that Johansson isn’t Asian—overrode the power of the film’s philosophical inquiry. Audiences are willing to suspend all manner of disbelief in service of a good story—except, apparently, when it comes to race. Hence the controversy surrounding this year’s most anticipated movie, Christopher Nolan’s adaptation of The Odyssey. The director cast the Kenyan Mexican actor …

Elon Musk’s Ex Says He Bragged About 10,000 Lasers in Orbit That Are “Not a Piece They’ll See on the Chess Board”

Elon Musk’s Ex Says He Bragged About 10,000 Lasers in Orbit That Are “Not a Piece They’ll See on the Chess Board”

Published by José Betancourt

Sign up to see the future, today Can’t-miss innovations from the bleeding edge of science and tech If “always keep them guessing” was actually a strategy for success, Elon Musk might be president right now instead of Donald Trump. In a new 18-minute long TikTok video, former conservative influencer and mother of one of Elon Musk’s children Ashley St. Clair shared private conversations she allegedly held with the billionaire about the 2024 US election — and the details are bonkers, even by Musk’s unhinged standards. According to St. Clair, Musk once told her that he had “10,000 lasers in space, referring to his [Starlink] satellites.” These, per the influencer, were Musk’s “anomaly in the matrix,” seemingly meaning he viewed them as a kind of card up his sleeve to be unleashed at the right moment during the course of the US presidential election. “He says this is not a piece they’ll see on the chess board,” St. Clair continued. “I straight up tell him, ‘I would ask more but I really don’t want to be …

SpaceX IPO filing brings Musk’s interplanetary ambitions to Wall Street

SpaceX IPO filing brings Musk’s interplanetary ambitions to Wall Street

Published by Sam Flores

May 20 : As Elon Musk’s SpaceX races toward what could be the largest IPO in history, its filing delivers a rare mix of hard financial data and bold ambitions of exploring the frontiers of space. The filing’s references to lunar missions and Mars settlement echo the popular space-age futuristic themes of “The Martian” and “Interstellar,” while grounding those ambitions in the more familiar language of commercial space development. The company identified asteroid mining, in-orbit manufacturing and energy production on the moon and Mars as potential future opportunities, even though these ventures appear nowhere near feasibility. The language in the filing at times veered from conventional corporate disclosure to warnings of existential peril. “We do not want humans to have the same fate as dinosaurs,” the company said, as it made a case for interplanetary travel. The part-balance-sheet, part-science-fiction nature of the paperwork is just one of several signs that show how unprecedented SpaceX’s IPO truly is, in terms of size, ambition and business model. It is also consistent with Musk’s public persona. The billionaire …

Judge Dismisses Musk’s OpenAI Lawsuit After Jury Reaches Verdict

Judge Dismisses Musk’s OpenAI Lawsuit After Jury Reaches Verdict

Published by Jenni Sidey

Update: Musk to appeal *  *  *  A nine-person federal jury has sided with OpenAI, Sam Altman, Greg Brockman, and Microsoft, determining that Elon Musk filed his high-profile lawsuit too late under the statute of limitations. The verdict effectively ends Musk’s claims that OpenAI abandoned its founding nonprofit mission to benefit humanity. The jury unanimously concluded that Musk knew or should have known about OpenAI’s shift toward a for-profit model and major Microsoft partnerships years earlier – potentially as far back as 2019–2021, making his August 2024 filing untimely. U.S. District Judge Yvonne Gonzalez Rogers in turn accepted the advisory jury’s finding on this threshold issue and dismissed the case.  Musk, a co-founder who contributed roughly $38–44 million in OpenAI’s early days, alleged that the company betrayed its original charitable trust by pursuing massive profits and commercial deals, particularly with Microsoft. He sought up to $150 billion in damages or “ill-gotten gains,” the removal of Altman and Brockman from leadership, and a restructuring to restore the nonprofit focus on safe, humanity-benefiting AI. OpenAI countered that Musk was …

Elon Musk’s SpaceX could go public by next month

Elon Musk’s SpaceX could go public by next month

Published by skeptic

Elon Musk’s space exploration company, SpaceX, could be going public sooner than many expected. According to a new report from Reuters, SpaceX is “accelerating” its IPO launch in hopes of going public next month. SpaceX is aiming to make the official announcement this week to promote the IPO launch to potential investors in June.  SEE ALSO: The Musk vs Altman trial: What happens next Musk’s space company is eyeing a June 12 listing date, with an early share sale the day before. SpaceX would be listed under the SPCX ticker on Nasdaq. Mashable Light Speed According to previous reports, SpaceX is seeking a valuation of more than $1.75 trillionMusk and the company have recently made moves that clearly show intent to launch SpaceX as a publicly traded company. Earlier this year, Musk’s SpaceX acquired Musk’s AI company xAI in order to bolster the combined company’s value. In addition, recently announced deals between SpaceX and big tech and AI companies would certainly be eye-catching for potential investors. Just last week, a report found that Google was in …

Elon Musk’s SpaceXAI has been bleeding staff since its merger

Elon Musk’s SpaceXAI has been bleeding staff since its merger

Published by skeptic

Elon Musk’s newly rebranded SpaceXAI is reportedly losing top talent, with more than 50 researchers and engineers departing since February, according to The Information. The exits include key leaders across coding, world models, and Grok voice.  Rivals like Meta and Thinking Machine Labs are reportedly scooping up former staff, with the company’s core pre-training team dwindling to just a handful of people. Since February, at least 11 xAI employees have defected to Meta, according to The Information’s report. At least seven have left to join Mira Murati’s Thinking Machine Labs. TechCrunch has previously reported on 11 of the xAI departures announced directly after the merger, including two co-founders. SpaceX acquired xAI — two companies owned by Musk — in February and has since installed new leadership at the company. Musk renamed the combined company SpaceXAI earlier this month. The pre-training departures, which followed the exit of team lead Juntang Zhuang, have particularly concerned employees and people close to SpaceXAI, per The Information. Pre-training is the first step to building new AI models, and many have questioned …

Elon Musk’s Attempts at AI Are Falling Apart

Elon Musk’s Attempts at AI Are Falling Apart

Published by José Betancourt

Sign up to see the future, today Can’t-miss innovations from the bleeding edge of science and tech In the AI world, there are what the tech scholar Kate Crawford has called the “Great Houses of AI.” These are Microsoft, Amazon, Google, and Meta — giant tech monopolies which happen to also be four of the six top US corporations by market value. Then there are the lesser houses, the lower fiefdoms squabbling over the crumbs that fall from the big kids’ table. This is where we find Elon Musk’s xAI. Though the world’s richest man has pumped billions of dollars into his pet AI project, it seems all the money in the world can’t buy customers — or even respect, for that matter. According to the Wall Street Journal, new data shows the growth of xAI’s two-year old chatbot, Grok, has stagnated. Though Musk succeeded in giving Grok a temporary boost after integrating the thing into his social media site X, formerly Twitter, new monthly downloads have fallen from over 20 million in January to …