저자: Kevin · 외국인
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트럼프 관세 이후 리테일 저가매수가 역대급이나, JP모건 다이먼은 미국 자산 고평가와 신용위기 위험을 경고. 소시에테제네럴은 8월경 관세 충격과 경기 둔화 가능성을 언급, 중국 부양 제한적. 파월 연준은 관세로 인플레가 유지돼 금리인하가 늦어졌다는 해석. D-Wave는 고객 1곳 매출 의존(85%)에도 모멘텀 강세, 테슬라는 로보택시·휴머노이드 기대가 주가 프리미엄을 지탱한다고 평가. Klarna·Perplexity 등 AI·BNPL 재무 우려도 언급.
다듬은 글
You haven't seen an effect of tariffs. I think that's an extraordinary amount of complacency. Jaime Diamond is calling markets complacent, suggesting large downside is still ahead. We'll talk about that as well as how tariffs may have just flipped the script on the Federal Reserve in a very unexpected way.
We'll talk about how D-Wave, that quantum computing stock, is skyrocketing, why it's skyrocketing, and what it means for the stock. Keep in mind, this morning in the alpha report, I suggested calls might be in play at open. And boy oh boy, it has skyrocketed. Now up over 29% at the time of this recording, up over a third since our message.
Now, what we've got to remember though is we also got to talk about what Elon Musk just said. And we've got to talk about Clar, Perplexity, AI, and a whole lot to cover today. Hey everyone, me Kevin here, CEO of a real estate startup, jet pilot, and dad of seven. Let's get into the news today. Quick reminder, if you need life insurance, get it in as little as 5 minutes by going to medkaven.com/life.
Super easy to do and the sooner you sign up for it, the sooner you lock in that premium. Okay, so first, what is going on with Jamie Diamond and what's going on with markets? Because so far, everybody's just buying the dip. Retail bought the most stocks ever at the stock market open yesterday. And for the first three and a half hours uh or you could say four hours before 12:30, we saw the largest buying by retail shareholders that we have ever seen in the history of tracking retail buys between market open and 12:30 Eastern time.
That 4hour window, the largest by a massive magnitude. It seems like people basically researched the whole Moody's drama and were like, "All right, every time we have one of these credit downgrades, they end up being a buy the dip." So, well, let's buy the dip. That's exactly what happened yesterday with the S&P 500 and the Q's going from negative 1% each to positive.
Retail really just does not give a flying f about selling right now. And the idea is bye-bye bye bye bye, which in fairness has been working really, really well. There has been no broad concern and we've even here on the channel been talking about using trailing stops as a tool for maximizing the gain and minimizing potential downside and so far it's just been straight up since we've been talking about those in midappril.
Small caps in fairness are seeing the largest outflows out of all of the various different funds that we could look at. whether we're talking large caps, medium caps, small caps, small caps absolutely getting hosed with cumulative aumulative negative68 billion, the largest outflow ever in a year to date.
Uh, and then again for small caps. But if everybody is so bullish, then what does Jamie Diamond see that's bearish? Well, first he says credit risks today are really bad. And not only are credit risks bad, but asset valuations in America are very expensive. And he says that the people who are buying right now are people who haven't been through a real downturn.
I think he's basically trying to cast aside COVID and the tariff dip as not real downturns. And I think he's thinking back to like a.com bubble or even a great recession where we had massive unemployment combined with a serious downturn and a very slow toreact fiscal and monetary system. In other words, Congress and the Fed were kind of slow to react unlike what we've seen over the past uh crisis, especially co.
So Jamie Diamond says that trade and this sort of tariff war that we're going through is creating a lot of risks that we just haven't seen yet. uh and those risks may take time to come. He says there's an extraordinary amount of complacency and that we are on the fringes of extremes considering that even at the lower levels that we have now for tariffs, we're still at extreme levels we haven't seen in decades.
In fact, a blanket 10% on all countries hasn't been seen since 1971. And if you combine all of the tariffs that we now have uh on global trading partners, we have the highest tariffs since the Great Depression. So Jamie Diamond sees stocks selling off by at least 10%. But he's not so worried about that 10%.
Cuz we just had that in April and got through it. Big deal, right? But he actually thinks that the resulting credit crunch could hurt Americans even more. So what I wanted to do is sort of compare this to what's going on over at Sockgen. Uh, and so gen gives us a little bit of an idea of, okay, how are these tariffs like when are we actually going to see tariff impacts?
But then TS Lombard says something crazy that just flips the tariff script and I want to show you that right after I just take a quick look at this. Dang, look at that. Since the open, it's it's, you know, a little volatile there at the open, but it's basically been straight up on D-Wave. We'll talk about them soon, but wow.
This was one heck of a call in the alpha report. Another call I had in the alpha report this morning was that uh Tesla stock would not stay above 347. It's written down in black and white in the alpha report and Elon talked at the Bloomberg conference which we'll talk about later as well. Knocked the stock up over the line, but look at what happened right back under and ceiling.
But you know what I like to say? When we're sort of boiling up under one of those lines, it's just a matter of time to potentially explode through it. Unless of course we get a buy the rumor, sell the news on that robo taxi event. Anyway, these are some of the things that we talk about in the alpha report every day.
Make sure you're part of it. If you haven't joined yet, go to meet kekevin.com. Take advantage of the uh coupon code that we have for Memorial Day. When you lock in that price, you lock it in forever. So, it only goes up from there. Uh, and your price will not go up. You'll lock it in forever. Okay.
So, Sockgen tells us that American uh asset prices are are high, but the big risk that we should be facing or or concerned about is actually when the tariff momentum hits. And they believe that we may not see sizable weakening in overall economic momentum until mid Q3, which basically means mid August.
They say that Beijing is likely to withhold significant increases in stimulus in the meantime. Although I did write in blue here that China did yesterday lower their lending rate by just.1%. You know, it's still over 3%. But um you're seeing a little bit of loosening, but not really a lot. I mean, they could get a whole lot more aggressive with stimulus.
And I think Sockgen is right to say that they're kind of just waiting right now to see what plays out. But they do say that assuming no change in future tariff levels and a more modest stimulus support, they're actually revising China's GDP up. Now, this morning in the course member live, we actually went through trip.com and found that they're pretty optimistic about China travel and seeing more international travel come to China than they have previously seen.
That said, it is possible that labor market and tariff dynamics could hit hard in that August time frame. Take a look at this one. USChina negotiations could still collapse and derail. Obviously, that's always going to be a risk that negotiations collapse. I don't see that as so concerning. But what I do think is more impactful is that they say the current level of tariffs are likely sustainable for China.
But they don't say that about the United States, suggesting basically that, you know, China got a really good deal here because even though we've got this 90-day pause, the level of where Chinese tariffs are now is acceptable potentially to the Chinese, but could still really hurt the United States and the global market.
In fact, they say the easing of USChina tensions has put the US economy in a sweet spot for now with financial stresses potentially to reemerge in the third quarter again July, August, September as we get to the ultimate level of tariff deals or assignments as Trump has talked about and labor. Market dynamics will be key to watch while negative wealth effects and falling real incomes will hit consensus for stock forecasts of which we're not seeing right now.
In other words, markets have been pretty optimistic and potentially even a little bit blasze about the potential for earnings per share write downs. And I think that's what Jamie Diamond is frustrated about as well. He's like, man, people just really aren't paying attention to the oopsy dupsy that could be coming.
But oh well. When we take a look at what TS Lombard has to say about this, they have a really interesting note and it's sort of like, wow, is this what happened to the Federal Reserve? Maybe. So, take a look at this one. And now for a message from our sponsor, a public.com. Folks, a public is a place where serious investors can build wealth.
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You could them out. public pub.com. Use my link in the description maybe. So, take a look at this one on the positive. Okay, so they're they're talking about uh charts for inflation and they're also referring to an article from the Federal Reserve and they say the Fed says that the impact of tariffs has been obscured by other price movements which have declined to offset tariffs.
Put another way, US inflation would have been even lower without tariffs. Central banks just love a counterfactual, don't they? Okay, let me translate this. If it weren't for tariffs, we might have been in deflation and the Fed could have cut. So, in other words, tariffs basically made it so that the Fed didn't have to cut to stimulate us because we were in deflation.
Instead, tariffs just brought price levels up back to sort of an acceptable wait and see level. And so tariffs are basically duly responsible for keeping rates higher for longer, which makes sense if we assume that tariff pricing has already hit, which TS Lombard says to some extent we've already seen tariff pricing start coming through.
Sockgen says, "Nah, not so fast. Wait until August because that's when the poop really hits the fan." Who knows? But it's kind of interesting because as usual, it means Bond's got the short end of that stick. Oopsies. In the meantime though, Home Depot and Walmart both reaffirming their fiscal guidance for the year.
Home Depot sees growth of 2.8%. They see the economy getting through the sort of Q2 bump. And even though Walmart didn't provide Q2 guidance, Home Depot is and their stocks up today. Markets were kind of happy with the earnings. Operating margin guide came in smidge lower, but Q1 sales came in a smidge better uh than expected on on a dollar volume basis.
the comp sales missed a tiny little bit. Remember the difference between that could be the opening or closing of locations. Anyway, uh gross profit at Home Depot 33.6% net profit of 8.6%. So that actually brings some decent money down to the bottom line. That said, a lot of people are wondering is the economy just being propped up by BNPL services.
So, CLA is a service provider for both Walmart and Home Depot. And the Financial Times just reported that CLA's net loss doubled to $99 million uh for the 3 months uh ending in March, which is nearly $400 million annualized and more than double the losses that they had last year. Customers failing to pay has risen by 17%.
However, if you look at this sort of on like a total losses in terms of dollar volumes, they're only at total losses of about 0.54% versus 0.51% last year. So, the dollar volume level isn't up that high. It just seems like more people might be defaulting, but dollar volume wise, the defaults aren't actually that substantial.
I personally think the losses are why Clara wanted to IPO quickly to get access to equity markets and kind of help fund those losses. But I do think it's also possible that, you know, CLA just wants to kind of IPO at a peak and Walmart and Home Depot might be able to get through the 2025 drama in part because of CLA.
So, you're kind of changing market dynamics in in a very interesting way where maybe you can sort of like basically borrow your way through a recession uh and then you don't actually get a recession. The question though then becomes, okay, when does the bill finally get paid? My guess is probably never or the stock market will just absorb those losses and you're sort of like socializing BNPL debt.
Very interesting. Uh then when it comes to perlexity, oh boy, this one is perplexing. We'll talk about it, but quick reminder, thank you to those of you, especially those of you who are international who are investing in House Hack. really appreciate the confidence uh and your ability to uh you know diversify to US real estate.
Remember if you're a nonacredited or accredited investor in the United States or anywhere in the United in in the world really almost anywhere some countries no like if you're in North Korea sorry but uh a lot of Canadians, Europeans, we've got some uh from Asian countries investing as well. If you want that diversification to American real estate, consider going to househack.com and investing in our 5% convertible realm.
You get paid 5% per year. We pay it out on a monthly basis. You get that direct deposit on a monthly basis. So, it's sort of like passive income. Uh, and you get that through conversion of the stock, which only happens if our stock value goes up. And, uh, we are a preIPO company. So, read more about the company at houseack.com.
You can see some of the projects that we've got going on. and uh we look forward to uh working for you. Anyway, go check it out at househacket.com. Remember to read the disclosures. There is risk with every investment. Now, we got to talk Perplexity. Perplexity had $34 million of revenue last year, but the costs for OpenAI and Anthropic Plus AWS services that aided the company were $57 million.
So, in other words, the company is losing money. In fact, if you kind of look at their profit uh pipeline, if you will, we'll go ahead and pull that up on screen here. You'll see that the company also is kind of clever in how they rearrange things. See, this is kind of brilliant. Perplexity says that people who are on a trial subscription or on some kind of other discounted subscription are actually just paying a subscription and then that is just discounted down over here.
Now, the reason companies like to do this is because often they get valued on what's called annual recurring revenue, ARR. So, the bigger you can make this number look, the more money you can raise. But it's kind of a lie because if you really took the trial people or the free plans out, your subscription revenue would only be about half as big as it is now.
So, it's a little misleading. They also suggest that their gross profitable to the tune of about $34 million. But they're literally putting parts of their cost of goods sold like OpenAI and anthropic models like Claude and costs related to those of $8 million. They're putting that down here in the uh you know operating expense section.
And they're also throwing all of their payroll into R&D it looks like. Plus they're throwing all of their web services for AWS expenses into research and development as well. So, in other words, they're trying to make it look like the core of the business is losing money because they're growing the business, which is not abnormal.
Like, you want to see a startup have a positive gross profit level and then reasonable opex. And yes, the opex can create a loss. It's very normal for a startup, but you want the top line to be very profitable. You work on improving margins. And as the company scales, it tends to offset any kind of net income and you actually get to a growth phase.
This is very normal. This is like startup 101. The problem here is they're kind of providing, in my opinion, a distorted picture by putting their AWS and OpenAI and anthropic fees down here when they should really be up here. And the information argues that as well because, you know, it's convenient to say you're gross profitable, but you're actually probably losing money.
So that's anthrop or that's perplexity for you. They're also, by the way, in talks to raise $500 million at a $14 billion valuation. This will be its fourth funding in just over a year. Uh, and ended last year with $850 million in the bank. So, they've got lots of money to burn. I mean, if they had $850 million in the bank and in 2024, they lost 68 million, technically they've got like 10 years of money to burn here.
So, they've been able to raise a lot of money through this sort of artificial intelligence momentum. But what is also interesting is uh another company called uh Builder AI which partnered in Microsoft in May of 2023 as well as the Qatar Investment uh authority uh to quote empower businesses to develop applications and become digitally native without the need for technical expertise is going bankrupt.
So that means they literally lit $450 million on fire and that company's going bankrupt. So you know there there is the potential for just malinvestment in artificial intelligence and we're starting to see some of that. Now another thing that we also talked about in the uh the alpha report and the course live this morning is uh coreweave.
You know, we talk about how Core Weave's momentum continues to to power on as it had since Nvidia has been bailing him out under $40 a share. I personally mentioned this morning that I don't think a lot of investors in Cororee who sort of came in late on this momentum realized that Nvidia was bailing him out when when they were trading for under $40.
And it really wasn't until people saw that Nvidia disclosed an ownership stake of about 7% of Coreeave that Coree really skyrocketed. I think people saw it as sort of like a cheaper way to get exposure to Nvidia. And in the short term, I think the financials are fine. You know, they've got some more debt to raise to make sure they're stable.
But in the longer term, one of the big problems that you face with Coree is they're probably going to end up being an AI bag holder as those assets start depreciating substantially more rapidly than we're actually being told. I actually think their 14 billion balance sheet is probably already overstated.
But as long as uh as long as you know companies like Nvidia keep partnering with Coreweave and keep the ball rolling, you don't need an AI reckoning for uh a lot longer. So that's why I recommend it's you know to me we've been talking about buying call options on it for the last couple weeks and and bullishness coming off of the $35 trade.
Uh but uh I was also asked like Gavin, you know, should we short core? I go look I the problem with shorting core is you're you're betting you know when it's going to fall. I don't know what the answer is as to when it's going to fall. Uh I think that in the longer term, it's probably not a company I want to own and have my eyes blind to.
Uh it's potentially a trade in the short term. Anyway, uh that's one to pay attention to. Uh so that gives us a little bit of a breakdown on what's going on with some of the AI plays, but I think it's also worth touching on what's going on with D-Wave. So Dwave is a really interesting one. Okay, DWave gets about 85% of their revenue from one customer.
Now, I think this is actually not great. Uh, it's been great for the company because they've really been able to explode their revenues. But when you have 85% of your business coming from one customer, mostly research customers, the broadbased business application for D-Wave, I don't think is very valuable.
Now, in fairness, I did say this morning in the alpha report, I said, "Hey, calls on D-Wave. This thing's probably going to keep momentum rocketing, and it did. You know, it's up a third from when we mentioned it." So, how do I reconcile that? How do we reconcile that in the short term, we could be bullish, but longer term, we're not?
Well, first of all, D-Wave's momentum's been kicking butt since November. This stock is like 15xed. So, you can't fight this momentum. the momentum is so crystal clear and you don't want to stand in the way of momentum because you're going to end up getting hosed. The problem with the company is people look at it as a quantum compute investment because it's literally called D-Wave Quantum Inc.
and they talk about quantum compute as a service. So QC a S uh which you know everybody relates that to SAS businesses software as service and and the money that's made over there and people get really excited about it. The problem is quantum computing technology that uh D-Wave uses is an annealed process of quantum computing.
It's actually not true gate style quantum computing which would be your most advanced like we could break cryptography quantum computing or the quantum computing that like Google is doing in their research labs or Microsoft is doing where they're like so excited they're able to get their technology to operate for a fraction of a nancond.
That's sort of like full-fledged quantum computing. D-Wave is more like, hey, we have one way to solve really specific research applications and we're really good at doing this one niche thing. So, it's not general purpose quantum comput. And as long as you know that, then then I think it's more fair to look at quantum or you know, company like D-Wave.
Now, their revenue exploded to $15 million from $2.4 $4 million in 2024, which actually gave them a nice gross profit. But again, we don't know the specifics about this customer A that was responsible for 85% of their revenue. In fact, if you take for a moment, I mean, let's just do the math here and just see.
If you take $15 million and multiply it by 0.15, so the other customers with the exception of customer A, you would have actually had negative revenue compared to 2024. In 2024, you had 2.4 million, you'd be down at 2.25 million. So, in other words, revenue would have shrunk compared to 2024 had it not been for that one customer.
And that's somewhat of a dangerous exposure, especially since a lot of the institutions seem to be research institutions. See, when you go into their news and sort of their filings over here, you can kind of look at some of the companies that use them. I lead the significant R&D effort at LANL, which is the Los Alamos National Laboratory.
uh and a lot of these these you know security focused research or breakthroughs in life sciences whatever a lot of these are researchbased applications there is a real risk to what happens broadly to research funding and the ability for universities or research institutions to keep buying new technologies in the face of Doge or limited government funding or whatever you know Harvard for example spends was it $1.4 four billion dollars on research and they get somewhere around $500 million in grants.
We did a whole video breakdown on this how they spend more money than they get from the government on research. Uh and uh and a lot of that's been cut. You know, Harvard's gotten hit really hard. Now, obviously, they're just one example. I'm not saying that all research institutions around the world are going to suffer this.
Certainly not. But uh it's important to know these these new products like what they announced today the advantage 2 system which develops on the previous advantage one system these are built for research purposes and they make no shame in this. The wave continues to expand its fleet of annealing quantum computers hosted around the world and this is fine.
The the sole point of me bringing it up is you have a very limited set of customers and if one customer goes away there's going to be a big hit to the earnings of this company. They make no secret that this is a nealed quantum computing. Most people don't know what that is. So there's also that risk factor that there is momentum in the stock based on people misunderstanding what the the corporation actually does.
Those things combined make it in my opinion a a an undesirable long-term play. However, in the short term with losses of $5 million in the quarter and a huge balance sheet, I'm not really worried about it. See, the company actually just raised $146 million, I want to say it was through the issuance of stock.
If you go to the cash flow statement, you can see it right here. Yeah, in Q1, they issued $146 million in at the market offerings. Okay. Well, how are they able to do that? Well, they're able to do that because the stock is going up. So they just issue stock. They issued $146 million worth of stock.
Their cash and cash equivalents are now sitting at $34 million. And previously uh they were sitting at $177 million. So they basically doubled their cash position and they've got total liabilities including deferred revenues. I mean everything total together of 118 million. Their balance sheet is actually really good.
So they could totally afford to lose money for quite a while longer. And that I think could give them continued sort of momentum, enthusiasm because they're not going to go bankrupt. They're doing the right thing. They're diluting the stock uh while while they're public at these high prices to make sure the foundations of the business have as much cash as possible.
It's honestly pretty dang impressive. And they're picking up on the momentum wave uh and uh they're they're kind of doing exactly what you should. So good for them. Now, in fairness, we've seen this happen before. I won't mention specific names, but we've covered them. Like there was a 3D printing company we covered in the past, and uh I've done interviews with people related to that 3D business and otherwise on the channel.
And I would say every time that Israeli company, every time their stock goes up, they just issue shares. And it's so smart. But eventually the core business has to show that is commercially viable, otherwise it does eventually bleed out over the long term. So, I think that's that's a red flag for the long term.
In the short term, I mean, it's it's like a, you know, a trader's paradise in the short term. Obviously, be careful. I don't think that even the 30% that it's up today is going to last. That's why I always advocate when you're trading, set trailing stops. So, example, on the alpha report this morning, let's say it's up, you know, whatever it was 15%.
I'm like, I think there's a chance this could go up, you know, substantially today and then it goes up another 15% or 12% or whatever it was. That's an opportunity to trade, but eventually that momentum fades. Sometimes it's the same day before the close, sometimes it's a few weeks later. It's just something to pay attention to.
Uh, and it certainly depends on your trading strategy as well. And if you want to be part of sort of those opinions on trades, try out the alpha report. Go to mekevin.com, give the alpha report a shot, see what you think about the alpha report. Uh, and uh, if you don't like it after 30 days, you can cancel your subscription.
No harm, no foul. Thanks so much uh, for for watching this D-Wave section. Now, let's talk about Elon. Boy, we've got a lot to say about Elon. So, Elon had an interview with Bloomberg this morning. And he says that sales are already turning around for Tesla, that while they may have lost some on the left, they picked up some people on the right, and that their weakest region is Europe.
And this is true of basically all manufacturers. Now, this isn't exactly what we're seeing on broad-based data sets. Most people who are tracking uh sales for Tesla indicate that sales for Q2 are actually trending down compared to Q1. But the good news is we don't actually have to worry about Tesla sales until July 1st because we we're still only about halfway through the quarter.
If you look, for example, at uh uh Troy Teslike, I always like giving his forecasts a look. I think he's generally pretty accurate. He says that Tesla is currently 50,000 units behind last year after Q1. To close the gap over the remaining three quarters, they this is on an annual basis. They need to deliver 16,700 units more than last year in each quarter.
Since Q2 deliveries were 443,000 units, uh achieving that number would look like a strong result, but at this point it doesn't look possible. Uh, in other words, just based on sort of the VIN data that Troy is tracking, uh, it looks like they're tracking a substantially lower set of somewhere around 41,000 units to be delivered for Q1, which is a little bit at odds with what Elon suggests when it comes to actual transactional data for Teslas.
That said, uh Elon does say that uh if you want insider information, the stock analysts have it and because Tesla stock is up, it must mean we're doing good. I think this is kind of a unique way of evaluating whether Tesla stock is doing good or not. Mostly because I think the stock market is really, really, really excited about general purpose robo taxi that doesn't require geo fencing or mapping and general purpose robotics.
I think both of those things are really what are propping up Tesla's valuation. And short of those two things, Tesla as a car manufacturer is probably worth in the low 100s. Uh, you know, somewhere around 1201 130. And so any premium that you're paying above that today, which is about $200 worth, uh, appears to be for robotics and robo taxi.
Now, that does create a significant lift for the stock because the stock has a trillion.08 uh, you know, market cap. So $1.08 trillion market cap. Uh and if you say 2/ird of the value or 70% of the business right now is basically valued in uh you know let's well let's see 130 divided by 347 say that h call it 60% of the business is basically robotics right now and robo taxi that means you're paying about $648 million for the enthusiasm around robo taxis and uh and and humanoid robotics which honestly in the long term term grand scheme of things could end up being uh a significant bargain should uh these technologies really end up proving themselves out.
Uh and Elon thinks the stock is basically trying to discount for that enthusiasm and saying like hey look we must be doing something right. The stock's doing really well. Now Elon reiterated and it's one of the reasons we saw a temporary pop in the stock that he does see himself as CEO within the next 5 years unless he dies for some reason.
Uh although he does say that uh he he really wants uh sufficient voting control at Tesla to prevent activists from outing him. Uh and so he thinks that's a really serious issue and his pay package, not getting his pay package really hurts him with that. So he's disappointed about that. He says he doesn't so much care about the money, he cares about that voting control.
And this is uh probably why he's a little jealous of uh like a Mark Zuckerberg because Mark Zuckerberg has voting control at Facebook and it's one of the reasons I think they were able to get through the whole you know meta AI oopsies without Mark uh getting fired and Mark has done a fantastic job and making the business recover through the the bumps in the road by keeping that voting control.
Uh it's it's the same thing that we believe over at Houseack as well. We, you know, we invest in real estate in a very unique way where we think when we buy a property for $100,000, it's worth $120 to $130,000 immediately after we buy it and we do some fix up to it because we think we're buying real estate at a discount.
Now, obviously, there's risk with that. Some discounts might only, you know, you might be buying it for a 15% discount because, you know, the market shifted or something was more expensive. Some deals you were getting a 30% discount because you just got a really good deal, whatever, right? And this is of course after fix up money.
So uh you know this is why we're just so excited about what we're doing at house hack and I'm going to keep leading this charge at house hack. I mean probably for the next 50 years but I mean as long as I possibly can. But my goal is just to grow this company as much as possible before we go to IPO.
So if you want to invest in this preipo round, remember to go to houseack.com. So you get a 5% yield while you're at it too, which is kind of unheard of for venture capital. Go check that out over at houseack.com. And that's in addition to any stock growth. So, um, he does say that SpaceX has no intentions of getting into weapons right now.
This is interesting because our VC fund, separate from Houseack, has exposure to SpaceX, and we're kind of like, hm, it's an interesting vertical, but is that going to get you fired from a lot of different countries. I think what Arendelle is doing, as an example, is is pretty dang impressive. And I I could imagine SpaceX going into that sort of direction at some point in the future, but I don't think that's something you really want to pre-announce.
you know, get your constellation network up first and and uh you know, covering the earth even better than it already is. It's already doing great. Uh Elon says that Doge is an advisory group that we're doing the best we can and that we're not a dictator. We aim to go from $170 billion in savings to $2 trillion, but it's not going to happen overnight.
He got a little fussy with the reporter over this, so I'm giving you a little bit of a TLDDR here, but uh you know, some people obviously question the $170 billion in cuts. They say, you know, a lot of those numbers are inflated or false or whatever. But let's say for a moment, let's give them credit and say they've gotten $170 billion in cuts.
That's pretty good for the first three or four months of operations. Now, if the truth is it's only about a third as large and the biggest cuts come at the beginning and we can't really annualize it out, then yeah, Doge may end up making not much of a dent in the uh fiscal deficit, especially with the new tax plan that we have coming out, which I know is being pitched as being budget neutral for about 5 years, but not the years after that, given that a lot of these tax benefits are going to likely be uh permanent, unless of course future laws change them.
Uh Elon says he wants to do a lot less political spending in the coming future. He says he's done enough. He says we're close to artificial general intelligence and we're launching robo taxis next month. I don't actually think we're close to artificial general intelligence, but that's all right. Uh Political also has a piece out, this is separate from Musk's interview this morning, but Political has a piece out, two pieces actually.
one where they complain about XAI emitting a bunch of like you know toxic uh you know emissions into the atmosphere because they're running sort of like these propane uh you know energy uh generators for their XI data center and and they didn't get permits for those. Uh and so there's some argument here.
There's another argument that through the Trump administration the EPA wants to sort of enable those things anyway and make it okay. So, it's sort of like, you know, do it, ask for forgiveness later, and then my buddy Trump is going to take care of me anyway. That's what some folks are saying is going on.
But what is interesting is Donald Trump has started talking about Elon a whole lot less than he used to. In fact, if you look at Donald Trump posts on Truth Social about Elon Musk, here's a chart of it. You can see they've fallen off a cliff as soon as Liberation Day came around. You see no more mentions of Elon and you don't see mentions of Elon in fundraiser appeals either.
They abruptly stopped in early March. There's only been one fundraising mention mentioning Musk and it was a May email that uh touting a Gulf of America hat that uh Elon had tried on. So, uh, you know, some people in the Republican party say that Elon was just bad for polling and bad for the GOP in general.
That, you know, his showing in Wisconsin was sort of his death nail when he wasn't able to get the Republican judge, you know, elected with with his monetary contributions and wearing the cheese hat. Uh, and some people say that that was sort of like the peak political involvement for Elon. Although in fairness, he's in Saudi Arabia with a bunch of CEOs right now speaking at the investment forum where he was just interviewed by Bloomberg.
And uh some people are just saying that Elon's just basically become Donald Trump's sort of political fall guy for anything that was maybe uh unpopular or an oopsies. But so far, it does seem like Elon, especially based on that interview that we saw with him this morning, it seems like he's somewhat stepping back from his enthusiasm around politics.
Anyway, with that said, go check out Houseack, go check out our sponsors for the channel. Remember to come back every day around this time for your full breakdown of what's going on in the day. .
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