Topic
Wealth Concentration
The distribution of wealth and corporate control, and the politics of extreme fortunes.
- California Ballot Measure fact Nov 10, 2026California Proposition 40 Is Projected to FailCalifornia voters rejected the proposed one-time 5% tax on billionaire assets, leaving the measure without the approval needed to take effect.
- Compute’s capital filter forecast Aug 7, 2026Texas Prices a Place in the QueueTexas is making large-load applicants back megawatt requests with cash, while a published proposal would leave 80% of residual security unrecoverable in specified exits. Data centres dominate a queue whose stated size dwarfs the grid’s record peak.
- SpaceX the float inference Jun 19, 2026SpaceX discovers the stock machine The acquisition price looks back at the tickerThe Cursor deal turns SPCX from a market verdict into an acquisition input. SpaceX is now using the public float, options market, ratings shelf and Starlink cash flow as parts of the same capital machine.
- SpaceX · market structure inference Jun 17, 2026SpaceX enters the reflexivity zone without a rocket launchThe options market has made SpaceX trade less like a newly public aerospace company and more like a market-structure instrument. The issue is not whether a squeeze has happened, but whether price, float, options flow and all-stock dealmaking have become mutually reinforcing inputs.
- SpaceX · Anysphere inference Jun 16, 2026SpaceX buys the coder The IPO turns into acquisition currencySpaceX’s $60 billion all-stock deal for Anysphere is a filing-grounded pivot from launch and satellites toward AI infrastructure. The risk is that the AI buildout still depends on large, terminable compute leases while the segment is deeply loss-making.
- Media Consolidation inference Jun 15, 2026Washington Cleared Paramount-Warner. The Real Vote Is Now in SacramentoThe Justice Department’s no-conditions clearance moved the Paramount-Warner fight out of federal antitrust and into state court, the FCC, and the distribution stack. The near-term question is whether state attorneys general turn investigation into an injunction fight before the deal can close.
- $SPCX inference Jun 15, 2026SpaceX’s record IPO now trades on the thin-float machineThe debut was not just a capital raise. It created a small public float, huge demand, staged insider liquidity and a plausible index-buyer chase before meaningful supply arrives.
- Narrative Control forecast Jun 14, 2026DOJ cleared Paramount-Warner; the states get the next voteFederal antitrust lawyers say the $110 billion merger should increase competition. That is a narrow way to describe one owner holding Paramount, Warner Bros., Paramount+, HBO Max, CBS, CNN and a deep sports-rights shelf.
- Infrastructure inference Jun 14, 2026SpaceX went public as a compute landlord Musk still controlsThe $75 billion IPO gave public investors a low-vote slice of rockets, Starlink, defense launch and AI-compute leases. The tape loved the scarcity. S&P did not: no fast track, no float, no profits yet.
- The Listing inference Jun 13, 2026Two trillion dollars for an internet company that wants to be a planetSpaceX had the biggest IPO in history on Friday. By the closing bell Elon Musk was the first trillionaire, about 4,000 employees were millionaires, and the people who put up the money got almost none of the votes. Here's what they actually bought.