저자: Calvin · 외국인
요약 보기
스페이스X의 2026년 IPO 추진(기업가치 1.5조 달러 거론)을 계기로 우주 데이터센터 가능성과 그 연계 종목(Echostar, Rocket Lab)을 소개. 스페이스X는 2024년 말 ARR 약 130억 달러, 흑자 주장. 다만 우주 데이터센터는 냉각·방사선·비트플립 등 난제가 많고 거품 가능성 언급. Echostar는 스페이스X 지분 가치 연동, Rocket Lab은 적자 성장주로 평가. 발표자는 자사 부동산 AI 상품 홍보도 병행.
다듬은 글
Wow, it's official. Not only might SpaceX go public, but it seems to be taking Echoar and Rocket Lab on a rocket ship ride with it. We got to talk about not just SpaceX, which is famous for bringing us these reusable boosters. This one landing just minutes ago, but also its impact on Tesla. So SpaceX, its impact on Tesla, we're going to talk about that.
and Optimus Robots and the robotics market, Echoar, Rocket Lab, financials, fundamentals, valuations, and a whole lot more. So, buckle up. Let's get into what the heck is going on here. So, first things first, we last heard rumors that SpaceX might go public, which I got really excited about because my venture capital company invested in SpaceX back at about a $350 billion valuation.
And at the time I thought, man, Elon, you got your work cut out for you, but you know what? We want to be on the ride. And holy smokes, back then we were told cash flow positive, 13 billies in annual recurring revenue by the beginning of 2025. Well, here we are, end of 2025. Now, we're expecting potentially as much as 24 billion of annual recurring revenue.
And take a look at this. SpaceX planning to pursue 2026 IPO at what kind of valuation? $1.5 trillion. Holy smokes. More than a 4x from when my venture capital company invested in this. And frankly, the game has changed since then. This is remarkable. Not only is Bloomberg reporting that this IPO could potentially be the largest IPO ever in the history of IPOs, back uh in 2019, Saudi Aramco, they raised uh they sold about 1.5% of their company and they raised $29 billion selling such a small slice of their company.
SpaceX might raise between 30 to4 billion dollar at$ 1.5 trillion dollar at the middle to end of 2026. Now what I think is kind of exciting about this is it seems like they keep kind of moving up when they want to do it. First we heard, oh yeah, you know, we might do it as late as the, you know, late 2026, but that apparently has been moved up to potentially the middle of 2026, dependent on market conditions.
You can see that here. SpaceX's management and advisers are pursuing a listing as soon as mid to late 2026. Now, obviously, market conditions is just a fancy way of saying, "Hey, look, if we think that there's some kind of year-over-year inflation scare, and the Fed goes hawkish, and we get nervous about a jobs recession, then obviously we'll delay until 2027.
There's a lot of due diligence to do, or maybe even after that." This is a very normal consideration for companies thinking about going public. I know because I personally have been through the process with a very very small company, our little baby house hack. Uh, and we decided against it in part because of market conditions.
Now, we'll see. We got some really cool things cooking now, but let's focus on SpaceX for now. So, this timing thing really normal, but it doesn't surprise me that what they're trying to do now is jump on space data centers. And if you're going to do a data center play, while at a time people are worried about private credit, Oracle credit default swap skyrocketing.
JP Morgan's worried about increasing costs because of the cost of lending and inflation leading their stock to fall 4%. Oracle's down like 40% since people started getting nervous about the private credit blowups that we're starting to see. You know, you might kind of think, all right, maybe we're starting to run the clock a little bit on the whole data center play.
So, if we're going to appeal with space data centers, let's hop to it before data centers start becoming ubiquitous. Not to reference the stock Ubiquiti, which is a really great company, but I mean, look at Oracle. We're down from $345 now to $221 billion or uh $221 per share. And part of that is because they do hold over $80 billion in debt.
So, you can't really blame that the company has gone down about 35% when you're getting nervous about debt. And it certainly doesn't help that even after Nvidia picks up potentially 5% of its revenue by selling H200's even more powerful than the H20 chips to ti to China their stock barely moves. In fact, if you look at yesterday and today, you basically ended the day at the same spot as when that China deal was announced.
So, I get why Elon Musk in part might be thinking, you know what, now might be the time to IPO while we still can. And the AI data center boom is really, really exciting. But the space data center boom is a totally different play. And this one, I have to say, I'm really excited about. So, not only are we going to talk about data centers in space and how this works, but this is going to tie into Tesla, and then it'll tie into Echoar.
And of course, we'll talk about uh Rocket Lab. You got to talk about Rocket Lab as well. But first, understand SpaceX's valuation here. Okay, they were $137 billion at January of 23. Then they were July 23, 150 billion. January 2024, 180, then 210 by the summer of 24, 350 by Jan 25, that was around they started, they were doing in uh late 2024.
That's actually when I launched my uh VC. And what's really incredible about that is they had about $13 billion of annual recurring revenue at the end of 2024, which is the same as OpenAI says they have now, except SpaceX was running at a profit and cash flow positive. So, think about that. Profitable business, profitable since January of 2023.
Actually, profitable business since January of 2023. $660 million of free cash flow and $13 billion of annual recurring revenue. OpenAI, on the other hand, $13 billion of annual recurring revenue. Same, but massive losses and massive negative free cash flow, right? They're promising the world we're going to do $1.5 trillion of spend.
And people are like, right, where are you getting the money from? And uh frankly there is nobody who would love to stick it to Sam Alvin more than Elon Musk which is why I think Elon is like bro space data centers let's IPO under space data centers and then we can finally cream homeboy homeboy homeboy Sam Alman cuz guess who's also talked about doing space data centers.
Yeah, you guessed it. Here he is. Like I do guess that a lot of the world gets covered in data centers over time, but I don't know because maybe we put them in space. Like maybe we build a big Dyson sphere on the solar system and say, "Hey, actually makes no sense to put these on Earth." But like I can say with conviction the world needs a lot more processing power.
But if that looks like tiling data centers on Earth, which I think is what it looks like in the short term, in the long term also, or we do go build them in space, I don't know. It sounds cool to try to build them in space. But Sam Alman's not the only person who's thought of this. Jeff Bezos has talked about it.
Elon Musk has talked about it. Bill Gates talked about it back in 2024. Here he is. Uh, you know, solar panels in space. Maybe, you know, some people have even talked about, okay, put the whole data center up there. Uh, it's just bits. Uh, actually moving bits from space to ground is easier than moving energy uh from space to ground.
So, you know, particularly because launch costs are down, you can at least dream of of those things. And so none of that is really a huge surprise. It's just a surprise that SpaceX is also thinking about doing space data centers at the same time as they've got potentially a run rate to get to 23 million subscribers to Starlink by 2035.
They currently have roughly 60% of all satellites in orbit. Now those are circa 2024 numbers, so they might be a little dated here. and they the only private contractor that sent astronauts to the International Space Station. Kind of incredible. At least that was as of late 2024. Now, the cool thing about SpaceX is now we're thinking potentially that we could do a directtoell service in partnership with Apple and T-Mobile.
That was just announced in November of 2025, so about a month ago. But more on that in just a moment. Instead, let's understand this data center in space thing for a moment because this seems ah I got to do it. I'm a dad. Out of this world. Okay. All right. So, people are talking about doing data centers in space because you frankly you don't have to deal with city permits.
You don't have to deal with energy on Earth. You actually don't even potentially have to deal with batteries. Yeah, think about that. You potentially just have solar panels that operate 24/7. Now you might say, Calvin, how is it possible that it could operate 247? You know, the Earth is going to block the satellites or whatever.
True, a lot of satellites are in the dark about 50% of the time they're operating. But have you ever wondered why Google doesn't have any dark spots? when you're looking on the satellite, you're like, "Huh, it's always daytime when I look on Google Maps for the satellite view." That's because these satellites and where you would probably put data centers operate in what's called the Terminator zone.
Little weird. No, Arnold Schwarzenegger isn't up there. The easiest way to look at it is just by looking at this graphic from uh Spacecrafts, I believe is their channel name. And basically the solar powered satellites will just fly right here at the edge. So as the earth is spinning they kind of just float around the edge of the earth circling right where that line is.
So basically right where the sun kind of is between dawn and dusk that's where the satellites operate which means the satellites solar panels always have sunshine. So you don't even need batteries, which is insane. Now there are some problems that come with data centers in space. And when I say some problems, there are quite frankly a lot of problems.
One of the benefits is that hey, if you could get unlimited energy, great. And we think that space is colder because when we go up in a plane, it gets colder. We all know that. The problem is space is really funny. space can go from negative 120 degrees Fahrenheit to positive 120 degrees Fahrenheit.
So, you're going to have a whole lot of expansion and contraction. Our 5090 GPUs to play Rust or Age of Empires or whatever you're playing probably ain't going to cut it. You're going to need something a little custom or you're going to need some special housings that are more capable of this sort of expansion contraction.
Uh, and ironically, we think that space will be better for cooling, but it's actually worse because there's no air flow in space. And so, what you actually have is when heat is generated by a device, it just hangs out. It's almost like having a coffee thermos. Things just stay hot. And so, this is where we usually liquid cool.
But the problem is water freezes. So, you have to use things like liquid ammonia, which stays liquid at extremes, but it's extremely toxic. So, when we had a leak at the International Space Station and astronauts got it on them, they had to bathe, sunbathe, the ammonia off and get it evaporated in space before going into their airlock and back into the ISS because the toxic vapors would have killed the astronauts on the ISS.
This was back in 2013. Yeah. So, like there are problems using these ammonia cooling systems. Now, they exist. Basically, have you ever seen in those old homes the like old Here, I'll just type this in. Old home radiator. Uh, yeah. Like the baseboard radiators that run water through to heat your home or whatever.
You know, these old nasty things right here. Wow. You could buy one here. Cast iron radiator. Vintage. 1,500 bucks. I don't know why that just sounds like an extreme ripoff, but okay. I'm not installing radiators anytime soon. I'm a I may be a real estate guy. Okay, I'm and and I may be looking to find out how I can acquire real estate in space, but I've resigned to the idea that it just ain't going to happen.
Okay, I'm just going to focus on buying my little wedge deals. We're going to focus on the AI that we're doing because we're releasing our AI this month, our real estate AI. We think it's like the first and greatest AI. Uh we're really excited about it. You could learn more at house hack.com. Not a solicitation even though you can invest in the company.
is houseack.com. It's got all the info and demo and stuff, but anyway, basically these space stations have massive radiator panels on them. You might think that these are all solar panels when you look at these, but these are actually radiators right here and they run the liquid uh ammonia and then these are the solar panels.
So, you kind of have both parts on the space station. And servicing this is a big deal. Uh, this is kind of what the cooling system looks like. So, in 2008, the New York Times reported on a robot called Dexter that was designed to basically be a humanoidish robot that would essentially be able to be remotely operated and fix cooling issues.
So, humans didn't have to deal with the gas, the ammonia, right? Or the ammonia liquid, which can evaporate and turn into gas and then it's deadly if you inhale it. And so what's kind of crazy about this is that this robot not only is massive, it's got like this 11 foot arm, but it costs 200 freaking million dollars, which is insane.
And this is really where, in my opinion, Optimus comes into play because how great would it be to just have a tethered Optimus robot literally cabled in to these satellites and you have an Optimus, even if it's tea operated, right? Even if somebody's got the VR glasses on, like what we saw with the water bottles, is it AI?
Is it not? Who knows? Who cares? The point is, even if it is teleoperated, you put an Optimus robot as basically a space janitor, they could go fix the radiators on data centers in space. And so this is where I said, "Hey, we're also going to be talking about Tesla here. Here's the Tesla talk." Kind of crazy, kind of exciting if you think about it.
It's like all kind of linking together. So this Canadian robot Dexter, come on, man. Like 3,400 lb and $200 million, just getting that thing to space is going to cost like 50 million bucks. It's insane. So you don't want that. Instead, these humanoid robots, I mean, we look at what Morgan Stanley just said about robots.
Freaking insane. Morgan Stanley just this morning was talking about how uh we could see robots in 10 years, here it is, hit uh 25 trillion dollar by 2050 of global revenues, robot revenues, $25 trillion. Just for perspective, the United States total economy, all goods and services right now is $25 trillion.
And so I'm like, what? That's literally doubling the United States. That's crazy. 3,400B. Uh, well, Dexter is a 3,400 lb robot. Do you want that or would you rather Right here the humanoid robotics future? It's kind of crazy. Okay. Absolutely wild. Uh, oh, look. Um, there it is. We put the little coupon code right here if you want to get our reinvest AI or the uh courses over at meetke.com.
Santa reinvests. That's what the coupon is. That's why we were talking about tommo this morning. Remember, not FOMO, not SOMO. We're on to Tommo with the Federal Reserve. It's freaking nuts. But anyway, I'm coming to the conclusion that China is going to dominate manufacturing, but I'm okay with that because we're going to use it.
And space data centers might be where we actually use these robots. I don't know if they'll be Optimuses, but I do think we'll have space janitors basically that are robots. Now, this whole thing is called ISM. It's inspace servicing, assembly, and manufacturing. I guess there's like a whole acronym for it.
Uh, but something to think about is what about data and how does this link with rocket lab and how does this link with Echoar uh and and you know all of that. Okay, so let's explain that because this is uh this is important. So what we have is low earth satellites like Starlink are great for data transmissions to our little satellite dishes and actually a pretty rapid speed 20 to 40 milliseconds.
Honestly, it's like playing Rust. Totally fine. It feels like it's real time. And you could do that through radio frequencies. However, if you're going to do data centers, you're going to have to do it through lasers. Now, there's a company that's a super tiny startup. Uh, and you know, check them out if you want, but they're called Star Cloud.
They're a small little startup. I think they're a Y Combinator startup. Anyway, they actually deployed uh the first H100, the strongest data center chip ever to make it to space. They actually deployed it. Uh, and so what they're like pitching is that, hey, we want to be the first to bring data centers to space.
And they have this little infographic which is somewhat useful. If you look right here, you can see that satellites can optically be linked to each other. This is a fancy way of saying with lasers, you know, in on Earth, we use fiber optic cables, which are these like little glass flexible tubes essentially, and light kind of refracts through them.
However, if you do it in space, it's actually about 30% faster because you don't have the friction of the refraction in the glass fiber optic cable. So it's kind of cool. So anyway, you can do these space laser communications between satellites really rapidly. Uh and these data links can then also be linked to stations on the earth.
Now users like you and I or direct to cell communications are usually done just through radio frequencies like you know 5G or whatever, right? That's fine because we're not sending massive like pabytes of data. But data centers, they're going to want direct optical links to these satellites. Problem is, you usually can't do that through the clouds.
So, you got to be in places like Arizona or Australia and have multiple different places to do it. But, it can be done. It turns out it's a lot easier to get data to and from space than it is to get energy to and from space. So, space data centers could work. Now, another big issue that you're going to have that we don't have so much of here is what we call shielding or radiation issues.
Uh, and so if you look at the uh the data center play, the startup here, they've got this little Y combinator video, and this is kind of an example of a shielded data center box that they want to throw up into space. Uh, and it's cool, but you can see there's a lot that goes into actually making sure that we don't get what's called bit flip because the last thing you want is bitflip on AI and all of a sudden your GPT is telling you literally the wrong answers because of space data center bit flips.
So, you need error correction, you need radiation shielding, you need Optimus robots who aren't going to die of radiations like humans. It's a lot. Okay, there's there's just a lot to this. It's not as easy as let's just put the data center in space. But the point is SpaceX and Rocket Lab are kind of like the delivery systems to get up into space, right?
So, it doesn't really matter even who's doing the data centers, whether Nvidia shipping up their chips into space. I mean, gosh, talk about a literal like moonshot or this is all just like overhyped and a big bubble. Who knows? But that's crazy. Obviously, all the data center valuations could collapse and we're not going to put data centers in space for 50 years if we have a data center bust, right?
Like if the bubble pops, which I think could happen if Sam Alman goes bankrupt. If Sam Alman fails, his $1.4 trillion of commitments disappear, that means Nvidia's guidance goes down. That means AMD's guidance goes down, right? Because the money that's going from OpenAI to Nvidia is going from Nvidia back into Open AI and then to AMD, right?
It's and it's going to or it's it's just a mess. Okay, so like could the whole thing pop and blow up? Yes. Is it a massive bubble? Probably. Do data centers in space seem cool? Yes. Do space janitors seem like the dopest ever? Hell yeah, dude. Like I'm so jazzed because like our VC is in on this and I'm just like let's freaking go, dude.
We, my venture capital company invested in two companies, SpaceX and Aptronic. And SpaceX is like a 4X and Aptronic, I mean, if they actually are raising at a $5 billion valuation, is probably like a 6x. And I'm like, okay, all right. When do we go ring the bell? This is great. Now, all we have to do is make sure I can IPO Houseack for a big dollar and we're good.
Then we can retire. I'm just kidding. I don't think I could ever retire, but I'm too excited about the stuff. So, like, okay, we got to talk Echoar and Rocket Lab. Yes, all of this crap could be a giant bubble, but there is probably a future to this. I just want you to know that as excited as I am right now, don't confuse that excitement for, oh, this is going to be easy.
It ain't, okay? Like, who what what happens when we start crowding the Terminator zone, okay? And we can't all be in that same ring, right? Do we just go further and further out? But if we go further and further out, like are people blocking the optical lasers of others? I don't know. Should be enough room for now, right?
And then like who gets the terminator zone? China or the United States or both of us for now until we start blocking each other? Can we like can I pass you my laser and then can you beam that to Earth or are you going to intercept my laser and like, you know, bit flip me? Don't bit flip my Bitcoin. Anyway, all right.
So, that cooling radiation a lot. All right. But now we got to talk Echoar and Rocket Lab. So, Echoar is like literally moonshotting on this. Uh, that's the ticker symbol SATS. Now, this is basically the merger of Dish Network. Dish Network was public in 2024. People lost like all their money investing in Dish Network.
It's a crappy business. But over the last year, this company's up like 300%. Uh, and in the past 5 years, it's up like 336%. It basically just moonshotted in about August. And part of that is because they sold like $17 billion of their Airwave licenses to SpaceX. Now, why that's really interesting is when they sold these licenses to SpaceX to deal with like FCC bull crap or whatever, they actually ended up taking an $8 billion stake in SpaceX.
So, think about that for a moment. They sold $17 billion of licenses. They took $8.5 billion of cash, about $8.5 billion of SpaceX stock. Okay, that was before they talked about this $800 million funding round that SpaceX is doing now for employees as a secondary and it's certainly before the $ 1.5 trillion IPO potential for SpaceX in 2026.
So people are like, "Oh my gosh, this $27 billion company, uh, even if it had $ 8.5 billion worth of SpaceX stock today, divided by 27, 31 cents out of every dollar that goes into Echoar is basically SpaceX stock at whatever valuation they got back on September 8th, 2025. Now, if that valuation is up 50%." Imagine this.
Okay, let's say the valuation of $8.5 billion is up 50%. Times 1.5. That means the SpaceX stock they own is 12.7 billion. Let's call it $13 billion. Okay, $13 billion is almost half of this company, which means about 50% of every dollar that goes into Echoar is essentially SpaceX. So Echoar to some degree, it's a crap business, but it's almost a proxy for owning SpaceX.
I mean, look at this. They took a massive impairment on their licenses over here in the three quarters uh ending or 3 months ending September 30th. Even if you add the impairment back in, these people would still be losing money. Now, yes, they have some cash flow. Their balance sheet isn't that horrible.
Their positive cash flow, they paid off some debt. Uh, if I go to their current assets, I've got current liabilities of $9.9 billion and I've got total current assets of six. So, I'm definitely upside down. It could be worse, but they they needed the money. Okay, they needed the $8.5 billion from SpaceX.
If I add that back in here, great. Now I can pay my current liabilities. Okay, good. Now it makes sense. But then how much of Echoar did you just gut? Because remember, Echoar is a a company that has 5.68 million Dish TV subscribers. They got like two million Sling subscribers, but they also do Boost Mobile.
Heard about them? They have some partnerships with AT&T and T-Mobile, but they've got about 7 million subscribers at Boost Mobile. They used to own like $30 billion in wireless spectrum licenses, but they just sold a bunch to uh Starlink or SpaceX. And they also had some satellites called the Jupiter 3 or Echoar XXIV satellites in space through their Hughes division, but they had to file Chapter 11 bankruptcy.
So like there's risk in the space and Echoar isn't clean by any means. Now they're cleaner now because they got cash and SpaceX stock, right? So it got cleaned up a whole lot. makes sense why people are like, "Bro, Echoar is like a discount way to get your hands on Starlink. I mean, frankly, if if they got $ 8.5 billion of SpaceX stock and it's going to IPO for $1.5 trillion, that's probably a double, okay, times two, that's 17 out of the $27 billion valuation they have.
That's like 63% of every dollar that you invest in SATs is going into SpaceX essentially, right, through their ownership of it. Now they could squander it. I mean the whole company could go bankrupt. The other parts of their business could go bankrupt. So obviously there's risk, right? Then you got Rocket Lab.
Okay. Rocket Lab at least it's selling for 52.6 times less than SpaceX. Yeah. Take SpaceX's $ 1.5 trillion potential IPO valuation divided by 52.6 and you get Rocket Lab. Now, Rocket Lab's founder really likes big logos, and that was one, uh, everything that goes to space should have a Rocket Lab logo on it.
Um, don't care if we built it, don't care if we launched it, but everything that goes to space should have a Rocket Lab logo on it. Preferably the biggest logo that you can fit on the component. I don't know why any of that mattered, but let's just take a quick look at their financials. So, Rocket Lab not only manufactures cell solar cells, which is kind of cool.
So, it's like solar solar cells. So, solar solar panels, I guess. Solar panels made for space. Anyway, that's kind of cool. The CEO calls themselves the largest solar panel manufacturer for space, which I, you know, I haven't independently verified, but I guess I'll believe it. Uh, and um, honestly, they're not in a terrible financial position.
Uh, they do have negative cash flow. They're they are a rocket startup. Uh, so they do burn $67 million per quarter, but they just issued nearly a billion, well like $865 billion plus some other stuff in shares to raise cash. And they borrowed about $26 million, which is a drop in the bucket compared to their share sale.
But if you look at their balance sheet, they've got almost a billion dollars in marketables and cash, which, you know, if we're burning 67 uh every uh what do we got here? 67 per quarter and I got a,000 divided by 67 I got divided by 4 I got like 3.7 years of cash burn. You know now they might amplify their cash burn but anyway they do have 50% revenue growth which is great and they're showing a 36.7% gross margin but a lot of that is because of contract milestones.
You'll see some of that with Apple and MP material as well. But it's kind of interesting because they should be profitable by the end of the decade. And if they are, they would be selling with a multiple of about 106. So it's going to kind of depend on like what their EPS growth rate is. But this will make them very market sensitive.
Like this is why SpaceX says they don't want to go public in bad market conditions because a company like Rocket Lab, for example, is going to be very dependent on raising money. So you could throw more money into space data centers or rockets or whatever. You're literally lighting the money on fire with the goal of making more money.
Okay, this makes sense. SpaceX, they called themselves profitable. Uh let's say they had $18 billion of annual recurring revenue in 26. That's low. The um Bloomberg thinks this is actually going to be somewhere between 22 to 24 bill is the uh Bloomberg estimate. So my numbers are probably a little bit low.
Uh but if I just divide 1,500 then divided by call it 23 at the midpoint there we're trading for about 65 times sales. If they bring 20% uh to the bottom line that would be about uh let's see here in this case if I if I take the whole top line of sales uh let's get rid of this here uh screwed this up a little bit.
There we go. So if I take 20% of their annual recurring revenue and bring it to the bottom line, 23 time.2 that puts me at about $4.6 billion net roughly, which is great. But if you divide 1,500 by 4.6, you're going to be at about a 326 PE ratio, which for 2026 is going to be about three times as expensive as Rocket Labs 2029 valuation.
In other words, both of these companies are going to tank like a rocket of recession. Like these are literal money burners. And if we don't actually do data centers in space anytime soon and it takes 50 years, you're going to lose a lot of money on them. But I could not be more excited about the future when I hear this stuff because it all it makes sense.
It all makes total sense to me. There are so many problems and I will just say while this is very exciting technology and I couldn't be more grateful that we invested into SpaceX, I just hope we can make it to SpaceX's IPO without a recession. In the meantime, I will continue buying fixer uppers and doing our renovation AI because we want to use my knowledge in real estate and help other people do artificial intelligence.
renovations for their homes. In other words, you take a picture of your home and we tell you what is actually going to give you net worth in renovating your home. Or if you buy a fixer upper or you're looking for a fixer upper, we can guide you over time as we release features in 2026. You know, what you get now versus what you get in 26.
That's all these things are still being built. Uh our core features coming out this month are done. Uh but there's a lot more coming in 2026. But one of the things that I'm really excited about is basically screening properties that are on the market and saying to folks, hey, if you buy this property and spend 50 grand fixing it up, there's a chance you could boost your net worth by $100,000.
Now all of a sudden, people can actually rate properties based on their ROI that they could potentially get rather than just guessing. They have an AI tool that myself and our team trained to bring you AI in real estate, which is kind of cool. And if you want to invest in that, the cool thing is we have no bank debt.
We are real estatebacked, which is great. You could see a lot of our real estate under our real estate tab, but you can also click the invest and reinvest button. Uh reinvest house hack, same company. It's just a different name. I'm changing it to reinvest. I think it's pretty awesome. See, real estate invest.
Huh? See what I did there? Reinvest the proceeds. Keep reinvesting profits into real estate. Anywaight now, our current round is based on our 2024 valuation, which means if you invest, uh, you are investing based off of the valuation. I think it's this button. Yeah, you're investing based off the valuation we had in August of 2024.
You get a 5% yield paid on a monthly basis. So, 5% annual, paid monthly. Uh, and it's a convertible, which means you get downside protection and all of the upside uh, if our valuation goes up from this level. Uh, read the offering circular. Earliest conversion is Jan 27. And folks, couldn't be more excited.
I don't really think we're ready for the future, but I'm excited about it. So, with that said, thank you very much for watching and we'll see you in the next video. Goodbye. Godspeed. .
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