The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 9 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Jain: SpaceX generates $18B in revenue but loses $5B
“SpaceX is wonderful, but eighteen billion revenue and five billion loss.”
Housel: Elon Musk's Greatest Product Is Tesla Stock, Not Its Cars
“The greatest product that Elon Musk has ever made is not a Tesla car. It's not a SpaceX rocket. It's Tesla stock. It's the ticker TSLA. Because what he has done is he has told a more effective story about what Tesla might become in the future than maybe any ot…”
Fishner-Wolfson: Cost-plus incumbents had zero incentive to develop reusable rockets
“There are a lot of big players. They built their business on a cost plus strategy, and they had no interest in turning rockets into airplanes. And that's fundamentally what needed to happen in order to increase access to space.”
Warrington: Mature private tech companies like SpaceX represent public equity risk
“The reality is those are not venture risk the way we think of venture. We've taken the approach that it's fair to think of those as a different asset class. They're just almost equity risk is the way we think about it.”
Grefenstette: Some institutional endowments have 5% of total NAV in SpaceX
“Maybe they have, maybe five percent of the total NAV is in SpaceX. And this is the actual case for some institutions out there.”
Moyo: SpaceX venture valuation is completely delinked from historical PE averages.
“We are in SpaceX. From the venture exposure, you start to look at where these things are trading, completely delinked from 16 times PE average over the past decades or so. It's just hard to justify.”
Fishner-Wolfson: SpaceX, Gusto, Flexport, WorkRise, and Curology are 137's top holdings
“The biggest position obviously goes back to the time I was a founder's fund with SpaceX. You know, we're large investors in Gusto and Flexport and WorkRise. I think Curology rounds out probably the top five portfolio companies for us today.”
Late-stage unicorns run internal tender offers, bypassing external secondary markets
“Series F plus, those are the companies that are more likely to have proper secondary markets that OpenAI, Stripe, and SpaceX, and they will do tenders for their employees, and so it really is few and far between that those deals make their way into our portfol…”
Gilbert: Low-view YouTube talks by executives contain insights the press misses
“And the other fun hack is there's these criminally Under viewed YouTube videos, which is executives whose names you know and executives whose name you don't know giving industry talks at conferences, and these end up on YouTube because they're giving out publi…”