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Elon Musk Weekly News Update: Tesla, SpaceX, Neuralink, and More · Elon Musk Podcast

0:01
Hey everybody, welcome back to the Elon Musk Podcast.
0:05
This is a show where we discuss the critical Crossroads, The
0:08
Shape, SpaceX, Tesla X, The Boring Company, and Neuralink.
0:13
And I'm your host, Will Walden. X has launched a legal challenge
0:16
against the National Labor Relations Board of the NLRB,
0:20
claiming that the agency's structure violates the US
0:23
Constitution. This action follows A complaint
0:26
from the NLRB accusing SpaceX of unlawfully dismissing 8
0:30
employees. Now, these employees had
0:33
composed and shared an open letter raising workplace issues,
0:36
including criticism of CEO Elon Musk.
0:39
The SpaceX lawsuit labels the NLR BS complaint as unlawful,
0:44
arguing that the agency's framework breaches Article Two
0:47
of the Constitution in the 5th and 7th Amendments.
0:50
The core of Spacex's argument that the NLRB structure, where
0:54
only board members and administrative judges are
0:56
subject to presidential removal, undermines constitutional
1:00
principles and results in a lack of electoral accountability.
1:04
In addition to challenging the NLR BS constitutionality, SpaceX
1:08
has requested a jury trial and seeks to have the NLR BS
1:12
complaint dismissed. This suit represents an
1:15
unconventional response to the Labor Board's allegations, which
1:18
are set to be reviewed by an administrative judge with
1:21
potential appeals to the board and to federal court.
1:25
Now, SpaceX has previously triumphed in a similar legal
1:28
battle. In November, the company won an
1:30
appeal against a Department of Justice administrative complaint
1:33
alleging hiring discrimination against certain immigrants.
1:37
The current lawsuit against the NLRB, filed in the US District
1:41
Court for the Southern District of Texas, mirrors this previous
1:44
legal strategy and the origins of the conflict traced back to
1:48
2016 involving an incident on a SpaceX corporate jet.
1:52
A flight attendant, encouraged to become a massage therapist,
1:56
alleged inappropriate conduct by Musk during a flight.
1:59
This led to a $250,000 settlement after a complaint to
2:03
Space XS HR department accompanied by a non disclosure
2:06
agreement, and the issue resurfaced in 2022 when Insider
2:10
reported on the settlement. Musk's dismissive and joking
2:13
responsive to the allegations on social media reportedly
2:17
exacerbated concerns among SpaceX employees, particularly
2:21
in the context of reports about widespread sexual harassment
2:24
within the company. SpaceX CEO Gwen Shotwell had
2:28
previously emphasized the company's commitment to
2:30
addressing harassment complaints.
2:32
However, Musk's public attitude seemed to contradict this
2:36
stance, prompting employees to draft the open letter
2:39
criticizing Musk's behavior and its impact on the company's
2:42
image and internal culture. The response from SpaceX to this
2:46
open letter was immediate and severe.
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Five of the letter's authors were fired promptly, with three
2:52
more following soon after. An internal meeting led by
2:55
SpaceX VP John Edwards further highlighted the tensions, with
2:59
Edwards reportedly asserting Musk's broad discretion as CEO
3:03
even in the face of direct questions about harassment.
3:06
And the NLRB stepped in with a lawsuit against SpaceX alleging
3:10
that the firings violated the National Labor Relations Act,
3:13
which protects employees rights to advocate for better working
3:16
conditions. Spacex's countersuit contends
3:19
that the NLR, BS process and the role of its administrative law
3:22
judges are unconstitutional and represents a conflict of
3:27
interest. Now the ongoing legal battles
3:29
cast a shadow over Spacex's achievements in spaceflight
3:32
bring you to the four issues of workplace culture and leadership
3:35
ethics. The situation shows that the
3:38
challenges of balancing founder driven leadership with employee
3:41
welfare and legal compliance are very complex.
3:46
Spacex's lawsuit against the NLRB shows the broader debate
3:49
about the constitutional legitimacy of certain federal
3:52
agency structures. The company argues that the NLR
3:55
BS administrative law judges having substantial decision
3:58
making authority should be subject to direct presidential
4:02
oversight to align with constitutional requirements.
4:06
In The lawsuit references a Supreme Court ruling from April
4:09
2023 concerning the Federal Trade Commission and Securities
4:13
and Exchange Commission. Although that ruling did not
4:16
directly address the use of administrative law judges, it
4:19
recognized the jurisdiction of federal district courts in
4:22
assessing the constitutionality of agency structures.
4:26
Additionally, the Supreme Court is currently deliberating a
4:30
challenge to the SE CS use of administrative law judges
4:33
following a ruling against the SEC by the US Court of Appeals
4:36
for the 5th Circuit. The outcome of this case could
4:39
have significant implications for the NLRB and similar federal
4:43
agencies. Now, Spacex's legal argument
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hinges on precedents and interpretations of
4:48
constitutional powers and a separation of powers doctrine.
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The company cites historical rulings and constitutional
4:54
interpretations to support its claim that the NLR BS current
4:58
structure and processes are constitutionally flawed.
5:02
Laurie Burgess, representing the fired SpaceX employees,
5:05
characterizes Spacex's lawsuit as an impulsive and tactical
5:09
maneuver by Musk to delay facing the legal consequences of his
5:12
actions. She argues that Musk's disregard
5:15
for legal norms has created a challenging work environment at
5:18
SpaceX, and the NLR BS complaint against SpaceX seeks remedies
5:23
for the affected employees, including reimbursement and back
5:26
pay. The complaint also highlights
5:29
alleged coercive statements by a SpaceX vice president, which
5:33
could further complicate the company's legal position.
5:36
Now, the legal confrontation between SpaceX and the NLRB
5:39
presents a very complex scenario in including constitutional law,
5:43
labor rights, and corporate governance.
5:45
And it shows that the tensions that can arise when dynamic
5:49
business leadership clashes with regulatory frameworks and also
5:53
employees. And the outcomes of these legal
5:55
battles could have significant ramifications not only for
5:59
SpaceX, but also for the interpretation of Labor laws in
6:02
the structure of federal regulatory agencies.
6:06
Hey, thank you so much for listening today.
6:07
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It helps out the show tremendously.
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to patreon.com/stage Zero. And please take care of
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yourselves and each other, and I'll see you tomorrow.
6:36
Hi, everybody, and welcome back to the Elon Musk Podcast.
6:39
This is a show where we discuss the critical crossroads, their
6:43
shape, SpaceX, Tesla X, The Boring Company, and Neuralink
6:48
and everything. Elon Musk, I'm your host, Will
6:51
Walden. Today, we're focusing on a
6:54
significant development in SpaceX.
6:56
The recent test flight of Starship, which unfortunately
7:00
ended in an explosion in this event, is crucial not only for
7:04
SpaceX, but also for NASA's Artemis program, which relies on
7:08
the Starship for future lunar Artemis missions.
7:13
This is specifically Artemis 3 now.
7:15
The test flight on Saturday showed both progress and
7:18
challenges for SpaceX. The spacecraft reached an
7:21
altitude of 93 miles, a significant improvement from its
7:24
last flight. However, the flight concluded
7:27
with the explosion of the Starship, raising questions and
7:30
triggering an FAA investigation. SpaceX CEO Elon Musk remains
7:35
optimistic, though, anticipating A readiness for the next flight.
7:40
In just a few weeks and this episode, we'll explore the
7:43
details of the flight. The spacecraft, which is
7:45
designed to be a pivotal part of NASA's lunar missions,
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encountered a severe mishap as both the Starship and the Super
7:52
Heavy booster exploded. Now this incident, following an
7:56
earlier destructive test in April, brings into focus the
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challenges that SpaceX faces in developing this gigantic 400
8:04
foot tall. It's basically a skyscraper
8:07
that's going to space. A SpaceX is proactive measures
8:11
such as the installation of a water suppression system to
8:14
protect the launchpad, indicating significant technical
8:17
improvements. And it actually worked.
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The flight's initial success, with all 33 Raptor engines
8:23
igniting correctly in the spacecraft reaching space marked
8:26
a notable advancement from previous attempts.
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However, the explosion that followed raises critical safety
8:33
and technical questions for SpaceX and the FAA.
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Now the industry experts and former FAA officials suggest
8:40
situation is more promising. Despite this massive explosion
8:44
over the ocean, the improved performance could lead to a
8:47
quicker review process by the FAA, essential for Spacex's
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timeline. With the Artemis 3 mission now,
8:54
George Kneeled, former head of the FAA's Office of Commercial
8:58
Space Transportation, emphasized the importance of learning from
9:02
these tests to enhance public safety and spacecraft
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reliability, and the FAA's role is critical in this process.
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As SpaceX submits its report on the failure and proposed changes
9:14
for future flights, the FAA must balance rapid development that
9:18
SpaceX is noteworthy for with stringent safety and
9:22
environmental regulations. This process reflects the
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growing pressures on the agency amidst the burgeoning commercial
9:28
space industry. Should they move forward and
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move fast like SpaceX does, or should they stick with their old
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ways? Only time will tell.
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Spacex's resilience and adaptability have been evident
9:40
in its history of overcoming challenges.
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The company's experience, notably the recovery after
9:45
losing a Falcon 9 rocket in 2015, demonstrate its capability
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to quickly address these issues and return back to flight to a
9:53
normal cadence and actually build up the cadence and the
9:56
speed of these flights and the turn around.
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And this capability will be crucial as SpaceX aims to define
10:02
the Starship system for reliability and space travel.
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Now for NASA, the stakes are very high.
10:09
The Artemis program's success heavily depends on the
10:12
starship's development. With an investment of $4
10:15
billion, NASA envisions using the Starship for lunar landings,
10:19
a mission not undertaken since the Apollo mission over 50 years
10:23
ago. However, the timeline targeting
10:26
a lunar landing by astronauts and 2025 or 2026 hinges on
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Starship's performance and the reliability of the booster and
10:36
the ship, which includes its unprecedented need for in orbit
10:41
refueling, something that's never been done before in a
10:44
rocket this size Now. Spacex's latest test, despite
10:47
its explosive conclusion, marks a step forward, not backwards,
10:52
in its bold journey to space. The flight's initial successes,
10:55
contrasted by the subsequent failures, under score these
10:59
challenges. The Pioneers of SpaceX and the
11:02
Starship continue to push with now with the FAA's oversight and
11:07
Spacex's determination. The path forward is a blend of
11:10
testing, innovation, and also regulatory navigation, and the
11:14
tension between Spacex's fast-paced innovation and the
11:17
government's regulatory framework is likely to persist
11:20
for a while. Spacex's expectations for
11:24
efficient approval processes often clash with the inherently
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cautious and procedural nature of government agencies.
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This dynamic will be crucial in shaping the pace and direction
11:35
of future Starship tests and by extension, the progress of human
11:39
space exploration. Now this is a little side note.
11:43
SpaceX is only allowed to do 5 launches from Starbase, Texas at
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this time, and if they can squeeze in another test by the
11:53
end of this year, by the end of December, they will have
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successfully launched 3 times from Boca Chica Starbase, Texas
12:01
in one year. If they slip to January, that
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flight goes into the next 5 for next year.
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Now, if they do complete those five tests successfully, if they
12:12
even successfully complete I probably two or three of them,
12:17
the FAA may allow them to do more flights from Starbase,
12:21
Texas. And the implications of these
12:23
developments? They're going beyond SpaceX and
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NASA. The commercial space sector,
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which is poised to benefit from Starship's potential to lower
12:31
launch cost significantly, is watching as SpaceX succeeds in
12:37
these launches. And the success of Starship
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isn't just about reaching the Karman line and getting into
12:42
space. It's also about reshaping the
12:45
economics and the accessibility of space travel for NASA and
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normal people like you and me. Eventually, space tourism will
12:54
become a thing and SpaceX will be on the forefront of that
12:58
technology. And as SpaceX prepares for the I
13:01
FT3 launch and as SpaceX prepares for the I FT3 launch,
13:07
will be here every single step of the way. the US Space Force's
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7th mission of the X37B Orbital Test Vehicle, or the OTV,
13:17
launched last week on a Falcon Heavy rocket and it's shrouded
13:22
in mystery. This is a Boeing built
13:24
spacecraft. Its purpose, its payload, and
13:27
its destination remain largely undisclosed.
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But Michelle Parker, who is Boeing's Vice President of space
13:33
missions, said that the technological advancements we're
13:36
driving on X37B will benefit the broader space community,
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especially as we see increased interest in space sustainability
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and we're pushing for innovation and capability that will
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influence the next generation of spacecraft.
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Now this is known as the US SF52 or the OTV 7, and the mission
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departed from Kennedy Space Center Launch Complex 39 A in
14:00
Florida. Now the launch, which initially
14:02
delayed due to weather and technical issues, was assisted
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by SpaceX and the live stream of the launch was terminated upon
14:08
the space plane reaching orbit as requested by the Space Force.
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Frank Kendall, the Secretary of the US Air Force, said that the
14:15
progress of space travel, citing teamwork across various agencies
14:19
and industries, is ramping up. And for the first time, the X37B
14:24
launched aboard of Falcon Heavy rocket, one of the most powerful
14:27
launch vehicles available. This marked a departure from
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previous missions which utilized the United Launch Alliance's
14:34
Atlas 5 rockets in Spacex's Falcon 9 booster.
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The Falcon Heavy's capabilities have fueled speculation about
14:41
the potential altitude and objectives of the Super secret
14:45
mission of the X37B project is a collaboration involving the
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Space Force, the US Space Force's Rapid Capabilities
14:52
Office and Boeing. It operates under the National
14:55
Security Space Launch Program, and the spacecraft's exact role
14:59
remains a topic of speculation ranging from reconnaissance to
15:03
payload delivery, with a Pentagon denying any weapons
15:07
related functions. Now, the Space Force has stated
15:10
that USSF 52 will test operations in new orbital
15:13
regimes and examined radiation effects on various payloads,
15:17
including NASA provided seeds. William Bailey, who's the
15:21
Director of Rapid Capabilities Office, said that the space
15:24
plane's role is enhancing responsibility, flexibility, and
15:28
adaptive experimentation platforms for space operations
15:32
in the future. Additionally, the X37B will
15:35
experiment with technologies for future space domain awareness.
15:38
This aims to ensure safe and secure space operations for both
15:42
government and commercial entities.
15:44
And despite the secrecy, certain aspects of the X37's design and
15:48
capabilities have been disclosed.
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The X37B, initially a NASA project, was developed by
15:56
Boeing's Phantom Works, designed for operations in low Earth
15:59
orbit, and it's notable for being the first vehicle since
16:02
the Space Shuttle capable of returning experiments to Earth.
16:06
It's a space plane, and it introduces several technological
16:09
innovations, including advanced avionics and electromechanical
16:13
actuation systems. Now, despite its new features,
16:17
the X37B shares some similarities with the Space
16:20
Shuttle though, including its high profile landing and lifting
16:23
body architecture. However, it is significantly
16:26
smaller and more elusive, capable of changing orbit and
16:29
concealing its position. Now, since its first mission in
16:32
2010, the X37B has completed over 37150 days in space,
16:40
covering 1.3 billion miles. Its achievements were recognized
16:44
in 2019 with a Robert J Collier Trophy for significant American
16:49
aeronautical and astronomical achievements.
16:52
Now the X37BS increasing mission durations and capabilities have
16:56
coincided with a similar development by China.
16:59
Their Shenlong Divine Dragon space plane project, launched
17:02
aboard a Long March 2F rocket, has been the subject of
17:06
international interest in speculation, and Boeing's X37B
17:10
was initially designed for a 270 day mission.
17:13
However, since OTV 2 in 2011, each mission has exceeded its
17:19
predecessor in duration, with the 6th mission lasting a record
17:23
908 days, and OTV 7 is anticipated to surpass this
17:29
duration and includes expanded capabilities for hosting more
17:32
experiments. The chief of Space operations
17:36
for the Space Force suggested that OTV 7 could be the X37BS
17:41
final mission, though this comes amid increasing activity in
17:44
space endeavors by China, highlighted by their recent
17:48
Shenlong mission and deployment of objects into orbit from the
17:51
Shenlong mission. Now, the close timing of the
17:54
launches of the X37B and Shenlong has not gone unnoticed.
17:58
Though U.S. officials, including Stalzman, have acknowledged
18:01
mutual interest and surveillance between the two nations
18:04
regarding their respective space plane projects, the X37BS
18:08
development and deployment show that it's an important phase in
18:12
space exploration and technological advancement.
18:15
Right now, it's super secret of nature and advanced capabilities
18:19
show a significant leap in EU s s efforts to maintain a
18:22
strategic edge in space. And the speculation surrounding
18:26
the S30 7BS purpose and capabilities reflects the
18:30
ongoing intrigue and competition and space exploration and
18:33
utilization. And as nations continue to
18:35
develop and deploy advanced space tech, the X37B remains a
18:40
key player in this area. Now the X37BS latest mission
18:45
continues to foster discussions and theories about its
18:48
objectives and its impact. With each mission pushing the
18:51
boundaries of space tech, the X37B remains an important
18:56
component of the evolving narrative of space exploration
18:59
and security. Now the impact of future space
19:01
missions though in terms of technology and strategy, we're
19:05
not exactly sure what that's going to be.
19:07
And as it embarks on its latest journey, the X37BS secretive
19:12
nature coupled with its advanced capabilities continues to
19:16
captivate everybody. So if we have any more
19:18
information about the X37B, we'll let you know as soon as
19:22
possible. Sex faces allegations from
19:24
federal labor officials for unlawfully terminating 8
19:27
employees in 2022. Now, these employees had
19:30
distributed a letter critical of Spacex's founder Elon Musk,
19:34
particularly over his handling of sexual harassment claims and
19:38
his behavior on social media. And this development adds to a
19:41
series of legal challenges confronting Musk's other
19:44
enterprises as well, including X or Twitter, and also Tesla.
19:48
While the National Labor Relations Board of the MLRB
19:52
complaint focuses on the employees effort to distance
19:55
SpaceX from Musk controversial social media statements,
19:58
including his response to sexual harassment allegations.
20:01
Now this letter, supported by a group of over 13,000 SpaceX
20:05
staff, also urged the company to revise and uniformly enforce its
20:09
harassment policies. Gwen Shotwell, Spacex's
20:12
president and CEO, along with other executives, allegedly
20:16
restricted the distribution of this letter, a move the labor
20:19
board deems illegal. And the NLR BS actions aim to
20:23
secure remedies like reinstatement and back pay for
20:26
the dismissed workers, emphasizing the importance of
20:29
employee rights in corporate settings.
20:31
Now Paige Holland, Thailand, one of the discharge employees,
20:34
express hope for accountability of SpaceX.
20:36
They criticize the company's treatment of its workforce, they
20:39
said. At SpaceX, the Rockets may be
20:42
reusable, but the people who build them are treated as
20:45
Expendables. And Spacex's lack of immediate
20:48
response to these allegations fits kind of in a pattern that
20:51
Elon Musk does. This approach was evident in his
20:54
reactions on X or Twitter, where he drastically reduced the
20:58
workforce of that company, including firing internal
21:01
critics from day one. And the labor board's accusation
21:04
against SpaceX mirrors a similar case involving Tesla.
21:08
Tesla faced NLRB scrutiny for legally firing a worker engaged
21:13
in union activities, a decision that was upheld by a federal
21:17
court. Now this pattern of Labor
21:19
disputes across Musk Company raises questions with the NLRB
21:24
and adding to SpaceX as legal challenges, the Justice
21:27
Department sued the company for alleged hiring discrimination
21:31
against asylum seekers and refugees.
21:33
This case is currently hindered by an injunction, but it
21:36
contributes to the growing scrutiny of Spacex's employee
21:39
practices. Now, the controversy of SpaceX
21:42
intensified following a 2021 essay by a former employee
21:46
detailing unaddressed sexual harassment.
21:49
This incident, alongside a separate $250,000 harassment
21:52
claim settlement involving Musk, which he denied and mocked on
21:56
Twitter, has put a spotlight on the company's culture and the
21:59
policies. As of late, the critical letter
22:01
from SpaceX employees immersed in this context, with Gwynn
22:04
Shotwell initially appearing supportive of the initiative.
22:06
However, the situation escalated with Shotwell reprimanded
22:10
employees involved in the letters distribution, leading to
22:13
the firing of several staff members, including organizers
22:16
Tom Moline and Holland Thailand. And the NLR BS complaint extends
22:21
beyond the firing, setting additional violations like a
22:24
SpaceX vice president's criticism of the letter and
22:27
implied threats to employees disagreeing with Musk's
22:30
behavior. These actions, along with a
22:32
senior HR officials alleged surveillance of the employees,
22:37
shows the broader concern over at SpaceX.
22:40
Reuters reports that the open letter described Musk as a
22:43
distraction in embarrassment, highlighting the broader issue
22:46
of workers rights to advocate for better working conditions
22:49
under federal labor law. Now, the NLR BS involvement in
22:53
this case is very significant, with his general counsel
22:56
functioning akin to a prosecutor.
22:59
The process potentially leading to a hearing before an
23:02
administrative judge could result in orders for SpaceX to
23:05
reinstate the employees with back pay should the firings be
23:08
deemed unlawful. The Musk's company have faced
23:11
several accusations regarding employee rights.
23:14
For instance, X was charged by the NLRB for illegally
23:18
dismissing an employee over tweets about the company's
23:21
policies, and Tesla has been embroiled in various complaints,
23:25
including race discrimination allegations.
23:28
The outcome of this case could have significant implications
23:31
for how employee rights are viewed and protected at SpaceX.
23:35
The focus of the NLR BS complaint is not just the
23:38
termination of these employees, but also the manner in which
23:41
Spacex's leadership, particularly CEO Gwen Shotwell,
23:45
handled the situation. Now, the allegation that
23:48
Shotwell and other executives unlawfully restrict the
23:51
distribution of the letter suggests a breach of employee
23:54
rights to freely communicate and address workplace concerns.
23:58
This aspect of the complaint highlights a crucial aspect of
24:01
Labor law the protection of workers rights to collectively
24:05
advocate for a better work environment.
24:07
In this context, the NLRB's involvement signals a
24:11
significant stand against practices that might stifle
24:14
employees voices, particularly in high tech industries.
24:18
And the Labor Board's pursuit of remedies like reinstatement and
24:21
back pay for dismissed SpaceX employees shows that they're
24:24
committed to these employees. The Labor Board's pursuit of
24:27
remedies like reinstatement and back pay for the dismissed
24:30
SpaceX employees are essential in maintaining a balance between
24:34
employer authority and employee rights, especially in industries
24:38
known for demanding work environments.
24:40
These laws, which are enshrined in the National Labor Relations
24:43
Act, protect the rights of workers to engage in concerted
24:46
activities for the purpose of collective bargaining or other
24:50
mutual aid or protection, and by firing the employees.
24:53
By advocating a change in company policies and distancing
24:56
from Musk's public conduct, SpaceX is accused of infringing
25:01
on these protected activities. The NLR BS complaint highlights
25:04
a key aspect of the labor law, though, the right of employees
25:07
to jointly address issues related to their work
25:11
environment and employer conduct without fear of retribution or
25:15
unjust dismissal. So right now, the space industry
25:19
is witnessing pretty big shift in the cost dynamics of
25:22
launching rockets into space. And SpaceX in the Falcon 9
25:27
rocket, which offering launches for as low as $67 million, has
25:32
been a disruptive force in reducing space travel cost for
25:36
about a decade now. Now in a remarkable crazy turn
25:41
of events ULA the United Launch Alliance with it's at a joint
25:45
venture between aerospace giant's Boeing and Lockheed
25:48
Martin. They're showing a formidable
25:51
challenge to SpaceX with the Vulcan Centaur rocket brand new
25:55
rocket. It's potential levelling of the
25:57
playing field with this competitive space market between
26:00
SpaceX and every other competitor.
26:03
Now, Spacex's journey in lowering space travel costs has
26:07
been pretty well documented. Slashing prices from 1 standard
26:11
$400 million per launch to about $70 million and the development
26:17
of their Starship vehicle aiming to launch more cargo for
26:20
significantly less, shows that they're going to get even better
26:25
at what they do. However, despite the progress,
26:29
the Starship is yet to complete a successful test flight to
26:31
orbit, leaving room for competitors to play a little bit
26:35
of catch up here. Now ULA, which is long perceived
26:41
as an old space program and they're trailing behind SpaceX
26:45
in cost effectiveness, appears to have made it a leap forward
26:48
with the Vulcan Centaur rocket. Originally replacing the costly
26:52
D4 Heavy. The Centaur rocket is being
26:55
positioned by ULA is a cost competitive alternative to
26:58
Spacex's Falcon 9 and other offerings, with an aim to launch
27:02
for under $100 million. Now, the allocation of 21 launch
27:08
contracts by the US Space Force, split almost evenly between
27:12
SpaceX and ULA, has been a spotlight on the pricing
27:15
strategies of both companies. ULA secured 11 launches at an
27:19
average cost of about $118 million per launch.
27:23
Marginally undercutting SpaceX is $120 million per launch now.
27:28
This suggests a very narrow gap now between the two rivals, and
27:33
despite the apparent parity and launch costs, a deeper analysis
27:37
reveals nuances though. ULAS launches are all slated for
27:41
the Vulcan Centaur, whereas Spacex's contracts include both
27:45
Falcon 9 and the more expensive Falcon Heavy launches.
27:49
Adjusting for this mix, basics's Falcon 9 launches would still be
27:53
slightly more expensive on average, but the difference is
27:56
increasingly marginal now. The pricing parity between
27:59
SpaceX and ULA raises questions about the future financial
28:02
performance of Boeing and Lockheed Martin, though, which
28:04
is the parent company's the ULA, and there's speculation that
28:07
they might sell ULA. But even if they retain
28:10
ownership, the impact on revenue and profit margins remains
28:13
uncertain. Lockheed has already seen a
28:16
decline in space revenue and profit margins due to
28:19
competition from SpaceX, and if the Vulcan Centre proves cheaper
28:23
to build and operate than ULA as previous outlets and Delta
28:27
rockets, it could stabilize or even improve the company's
28:31
financials. This will be a welcome
28:32
development for investors in Bowie and Lockheed, aligning
28:35
with ULACEO Tory Bruno, friend of the show commitment to
28:39
reducing launch costs. Now SpaceX continues to
28:42
demonstrate its capabilities with recent successful launches.
28:45
The USSF 52 mission for the US Space Force using the Falcon
28:49
Heavy was launched from Kennedy Space Center carrying the Boeing
28:52
built X37B. They work together here, and
28:56
this mission highlights that SpaceX will of course work with
28:59
anybody, as long as they're giving the money to launch
29:01
whatever they want to launch. Now, the X37B, which is a
29:04
reusable spacecraft, it's a space plane similar to the old
29:07
space Shuttle, is set to test new space domain awareness
29:11
technologies and other experiments.
29:13
Now this mission, according to Boeing's top secret, will push
29:16
the boundaries of space exploration and offer benefits
29:19
to the wider space faring community.
29:22
And this is an innovative program by Boeing and the Space
29:26
Force launched on a Falcon Heavy rocket.
29:29
Now, the successful launch of the USSF 52 mission shows that
29:33
the US Space Force's dedication to national security and
29:35
technological advancement, and they will use any vendor that
29:40
will give them a good price. So could it be ULA?
29:44
Could it be SpaceX in the future?
29:45
We're not 100% sure, but probably both in the coming
29:49
years. Now, the recent developments in
29:51
the space launch market reflect a kind of evolving landscape
29:54
here, where price competitiveness is finally
29:57
becoming increasingly crucial. Companies like ULA have had high
30:01
prices for decades, and now Ula's Vulcan, Centaur, and
30:06
Spacex's Falcon 9 and Falcon Heavy rockets are at the
30:09
forefront of these shifts, offering more cost effective
30:12
solutions for both commercial and government space missions.
30:16
And as ULA and SpaceX continue to vie for dominance in the
30:20
space launch market, the industry is likely to witness
30:23
further innovations and cost reductions.
30:25
The competition between these two mega giants not only
30:28
influences the respective financial performances, but also
30:31
shapes the future trajectory of space exploration and tech.
30:35
Now investors in Boeing, Lockheed Martin and other
30:37
companies involved in the space industry will closely monitor
30:40
this. The balance between maintaining
30:42
profitability and staying competitive in pricing will be
30:45
crucial for these companies to continue offering services to
30:49
the government. Now this reduction in launch
30:52
cost has broader implications for the overall space
30:56
exploration field. Lower costs open up new
30:58
possibilities for scientific research, satellite deployment
31:02
and even human rated crude missions to space.
31:06
Now this could potentially accelerate the pace of discovery
31:10
and innovation in outer space. Government entities like the US
31:14
Space Force also play a role in this, not only as customers, but
31:18
also as partners in advancing technological capabilities.
31:22
Their contracts and missions are vital for the sustained growth
31:25
and development of space capabilities.
31:28
Most of our technology now was built in the space age when
31:32
government contracts were huge with companies like this and
31:36
they innovative so many technological leaps due to this
31:41
competition. So SpaceX, ULA, this competition
31:44
is great not just for them but for all of us involved.
31:48
Now this is an important juncture right now between ULA,
31:52
Vulcan Centaur and Spacex's Falcon 9, Falcon Heavy rockets.
31:57
This competition is not just about market share though and
31:59
not just about money, but also about our own futures.
32:03
And these companies will continue to innovate and will
32:06
continue to drive down costs. Because if they can drive down
32:10
costs, they'll get more money from the government and more
32:13
money from the Department of Defense.
32:15
And they'll innovate for all of us.
32:17
Tesla has adjusted the range estimates for several of its EV
32:21
models in the United States, notably affecting the Model Y,
32:24
the Model S, and the Model X. Now these changes include a
32:28
reduction in the estimated range for various trims, with some
32:32
models experiencing a decrease of up to 6%.
32:35
Now, these modifications have not been applied to Tesla's
32:38
listings in the UK or the EU. Now the most significant change
32:42
is observed in the Model YS performance trim, which now
32:46
shows an estimated range of 285 miles, a decrease from the
32:50
previous 303 miles. Similarly, the Model Y long
32:54
range now stands at 310 miles, down from 330 now.
32:59
The Model XS Plaid variant has seen a reduction from 333 miles
33:05
to 326. Additionally, the Model S Plaid
33:08
with 19 inch wheels now has a range estimate of 359 miles,
33:13
down from 396 now. Tesla has not publicly explained
33:18
the reason for these lowered range estimations.
33:20
However, internal documentation reviewed by Dr. Tesla suggests
33:24
that the changes are due to two factors, enhancements in comfort
33:28
and functionality that require more energy and the
33:31
implementation of revised EPA testing requirements that have
33:35
led to higher consumption and slightly reduced overall range.
33:39
Now, Tesla has faced criticism in the past for overstating its
33:43
range figures. In 2020, the EPA disputed Elon
33:47
Musk's claim of 400 mile range for the Tesla Model S long
33:51
range. Moreover, in October of last
33:53
year, the Department of Justice began investigating Tesla over
33:56
reports that some of its mileage figures were intentionally
34:00
inflated alongside the range updates.
34:03
Tesla introduced 2 new color options for the Model Y All
34:06
Electric crossover. The colors Stealth Gray and
34:09
Ultra Red are not new to Tesla's lineup, but are newly available
34:13
for the Model Y Stealth Gray is offered at no additional cost,
34:17
while Ultra Red carries a $2000 premium.
34:20
Stealth Gray was first introduced on the Model S in the
34:24
Model X in October of 2023, with Ultra Red following in March of
34:28
the same year. In China, Ultra Red is known as
34:31
Flame Red and this marks the first time that Tesla has
34:35
introduced a new color for the Model Y in the United States.
34:37
Since its launch in Europe, Tesla offers exclusive colors
34:42
for the Model Y including Midnight Cherry Red and
34:44
Quicksilver, available only for vehicles built in Gigafactory
34:48
Berlin. In addition to the new colors,
34:51
Tesla has also updated range estimates for the Model Y's long
34:54
range and performance configurations.
34:57
The long range is now rated at 310 miles and decrease of 20
35:00
miles. The performance is rated at 285
35:04
miles, down from three O 3. These changes have been applied
35:08
to three Tesla models in the US, with a Model 3 retaining its
35:11
original 5 color options for the time being.
35:15
Now we revision in the EPA's method for calculating electric
35:19
vehicle range or EV range has resulted in most Tesla models
35:22
appearing less efficient. These changes coincide with
35:25
Tesla's updates in its 2024 model lineup, which include the
35:29
new Model Y colors and updates to steering wheels and yokes for
35:32
the Model S and the Model X. And the Tesla community was
35:36
further stirred up by the cyber trucks lower than expected range
35:40
in a highway range test by out of spec studios.
35:43
This occurred simultaneously with the EP as changes to EV
35:47
range testing procedures and these procedural changes in the
35:50
2024 model year updates LED some to speculate that the range
35:54
reduction was due to the latter. However, the actual change lies
35:58
in how the range is now calculated.
36:00
EPA has mandated that EV manufacturers test acceleration
36:04
and ride height modes in both best and worst case scenarios.
36:08
This new approach is intended to better reflect real world range
36:11
performance and applies to vehicles tested for the 2024
36:15
model year onwards. Now for Tesla buyers in 2024,
36:19
this means that the EPA range estimates listed on Tesla's
36:23
website are now more reflective of actual use.
36:26
Notably, the Model Y all-wheel Drive and the Model Y
36:29
performance have seen range reductions of about 20 plus
36:32
miles, now rated at 310 and 285 miles respectively.
36:37
The Model S Plaids range is also decreased depending on the wheel
36:41
option, while the Model X was less impacted.
36:44
The Model 3 remains unaffected by these changes as Tesla has
36:47
not tested the 2024 model year version in.
36:51
The anticipated refresh of the Model 3, known as the Highland,
36:54
is likely to undergo these tests when it begins sales.
36:57
Tesla has also removed the creep and roll stopping modes from the
37:01
2024 Model Y. Leaving hold is the only option
37:05
now. This change is expected to
37:06
improve efficiency by maximizing regenerative braking.
37:10
Hold mode, popular among Tesla drivers, aligns with the one
37:14
pedal driving experience. Now additionally, Tesla has
37:17
reduced the top speed of the Model SLR to 130 mph from 155
37:23
mph another moved at enhancing rated efficiency.
37:28
Now the company's 2024 Model year lineup includes new color
37:31
offerings for the Y, with Stealth Gray now available for
37:33
free and Midnight Silver Metallic.
37:36
Ultra Red, priced at $2000 is now the most expensive paint
37:40
option for the Model Y, taking over from the discontinued Multi
37:44
Coat Red. Now this change aligns with
37:46
Tesla strategy of constantly refreshing its vehicle offerings
37:49
and options. Lastly, the Model S and the
37:52
Model X are set to receive new steering wheels and yokes.
37:55
A significant update is the mechanically operated horn
37:59
activated by pressing the center hub which replaces the
38:02
capacitive button on the steering wheel or yoke used
38:05
previously. These range adjustments and
38:07
other updates reflect Tesla's outgoing efforts to align its
38:10
vehicle offerings with regulatory changes and consumer
38:14
preferences. Now, while some consumers may be
38:18
disappointed by the reduced range estimates, these changes
38:21
are part of Tesla's strategy to provide more accurate and
38:24
realistic information about its vehicle's performances. 2024 is
38:29
going to be one of the most amazing years for spaceflight.
38:32
It's going to be a historic one for space missions, with
38:36
numerous commercial companies and also NASA gearing up for a
38:39
series of ambitious launches. Now the spotlight for this year
38:42
is on the moon as NASA plans to send humans there for the first
38:46
time since 1972 with the Artemis 2 mission, while a host of other
38:51
commercial lunar Landers are also poised for launch.
38:55
Now the Artemis 2 mission, which is a cornerstone of NASA's lunar
38:58
exploration program is scheduled for November of 2024, although
39:02
there's a possibility of it slipping into 2025 and the
39:05
mission crew includes 3 NASA astronauts and a Canadian
39:09
astronaut as well. They'll embark on an 8 day
39:12
journey to the moon and back testing the Orion capsules
39:15
ability to safely carry humans. Now this mission paves the way
39:18
for Artemis 3 aiming for 2025 launch, which seeks to land the
39:23
first woman on the moon. But this is probably going to
39:26
slip further around to 2027, possibly 2028.
39:31
So Artemis 3, don't worry about that one yet.
39:34
We're going to do Artemis 2/20/24 probably late 2024.
39:38
Now the Vulcan Centaur rockets, a whole different thing
39:41
developed by the United Launch Alliance, or ULA, is set to make
39:44
its debut in January of 2024. This is a new heavy lift rocket,
39:49
a successor to the Atlas 5 and D4 rockets, and it's slated to
39:53
launch from Cape Canaveral, space forestation its first
39:55
mission. The Certification 1 mission is
39:58
crucial, as ULA needs to complete 2 certification flights
40:02
before undertaking missions for the Department of Defense.
40:06
CERT One's payload includes the Peregrine lunar Lander by
40:10
Astrobotic Technology Rocking the first launch under NASA's
40:13
Commercial Lunar Payload Services, or the CLPS contracts.
40:17
The Peregrine is targeting a moon landing in February of
40:20
2024, and this mission will also carry the remains and DNA of
40:25
several notable individuals, including Star Trek creator Gene
40:29
Roddenberry and actors James Duan and Shell Nichols and
40:34
Deforest Kelly to a permanent location in deep space.
40:37
Now, beyond the Peregrine, other CLPS missions are on the
40:40
calendar Intuitive machines Nova C Lander on the IM 1 mission is
40:45
scheduled to fly on a SpaceX Falcon 9 rocket.
40:49
Astrobotics Griffin Lander is targeting a lunar landing in
40:53
November on a SpaceX Falcon Heavy carrying NASA's Viper
40:58
Rover to explore the moon's South Pole.
41:01
Intuitive machine second mission, I am Two, also planned
41:04
for 2024. We'll send another Nova
41:07
Sealanter to the moon's South Pole to demonstrate resource
41:10
utilization and exploration. Now Boeing CST 100 Starliner is
41:17
also set to mark a significant milestone with its first ever
41:21
crude flight. After several delays and
41:24
setbacks, the Starliner aims to demonstrate its capability to
41:27
safely transport astronauts through the International Space
41:30
Station. The crew flight tester, the CFT,
41:33
scheduled for mid-april, will see astronauts Butch Wilmore and
41:36
Sonny Williams aboard an 8 day mission to the ISS.
41:41
Spacex's Crew Dragon has a busy schedule for 2024 as well,
41:45
including two private missions with Axiom Space to the
41:48
International Space Station, two more crew rotations for NASA,
41:52
and the private Polaris Dawn mission.
41:54
That's going to be my favorite mission.
41:56
Now, this includes Axiom 3, Crew 8 and Summer Mission for Polaris
42:01
Dawn Crew 9 in August and Axiom 4 in October.
42:05
Now, these missions contribute to a record number of humans
42:08
launching to space from Florida. Now Sierra Space, the Dream
42:11
Chaser space plane designed to resemble kind of a miniature
42:15
space shuttle, is preparing for its first uncrewed flight to the
42:19
International Space Station. The mission, part of NASA's ISS
42:22
cargo supply contract, is unique as a Dream Chaser will land at
42:26
the Kennedy Space Center. Unlike other cargo spacecraft,
42:29
the first launch is planned before summer 2024 on a Vulcan
42:33
Centaur rocket. Its SpaceX is set to conduct at
42:36
least two cargo resupply missions for Northrop Grumman's
42:40
Cygnus spacecraft to the ISS due to Northrop Grumman's shortage
42:44
of parts for Santeri's rockets. Now, these missions launching
42:47
from Florida atop Falcon 9 rockets, it shows that the
42:51
increasing collaboration and interdependence with the
42:54
commercial space companies is very important.
42:57
For 2024, NASA's significant science mission.
43:00
For 2024, the Europa Clipper, is destined for Jupiter's moon
43:05
Europa. Scheduled for an October launch
43:07
on a Falcon Heavy, the mission aims to explore the icy moon's
43:10
potential to support life. Additionally, NASA's PACE
43:14
satellite set for a February launch, we'll study ocean health
43:18
and the Earth's marine ecosystems in the competitive
43:21
landscape of space launches. SpaceX continues to dominate,
43:25
planning for an accelerated launch schedule to support its
43:28
Starlink satellite constellation.
43:30
United Launch Alliance, on the other hand, is focusing on
43:32
increasing the launch frequency of its Vulcan, Centaur, and
43:36
Atlas 5 rockets, with aspirations for at least two
43:39
monthly launches by 2025. Now the final mission for UL as
43:45
D4 heavy rocket is scheduled for summer of 2024.
43:49
This marks the end of an era for this particular rocket model,
43:52
with ULA focusing on its Vulcan, Centaur, and Atlas 5 rockets for
43:55
future missions. Notably, all remaining Atlas 5
43:59
rockets have already been purchased, including several for
44:02
Amazon's Project Hyper. And while large rockets will
44:05
dominate the headlines, smaller rocket companies like Astra
44:08
Space and Relativity Space are not expected to launch from
44:12
Florida in 2024. However, other small rocket
44:15
firms like ABL, Space Systems, Firefly, and Rocket Lab continue
44:19
their orbital endeavours from other locations.
44:22
Blue Origins Heavy Lift New Glen rocket is a wild card for 2024.
44:27
Jeff Bezos's company, which supplies ULA with BE4 engines
44:30
for Vulcan Centaur, is working towards the first launch of
44:33
Newglen. Successful early Vulcan Centaur
44:36
flights might pave the way for enough engines to support
44:39
Newglen's inaugural mission from Launch Complex 36 at Cape
44:43
Canaveral. Now the year 2024 shaping up to
44:46
be a watershed moment in space exploration with a blend of
44:50
government and commercial endeavors that are pushing the
44:53
boundaries of what's possible Now.
44:55
Artemis 2 is the big one, but remember, we do have SpaceX down
44:59
at Starbase continuing to push new missions for the Artemis 3
45:04
program with their Starship rocket, Super heavy rocket.
45:08
It's a massive thing, and as we look ahead from lunar landings
45:12
to ISS resupply missions to Starship, each launch
45:15
contributes to our understanding of space and our place within
45:19
it. One of the most important
45:21
questions about SpaceX is will it ever go public?
45:25
Will there be an IPO for the company?
45:28
Can you buy shares for the company?
45:30
Can you buy stock in the company?
45:32
While late last year, SpaceX was reportedly in discussions to
45:36
sell 500 million to 750 million shares of its stocks,
45:41
potentially valuing the company at over $175 billion.
45:46
And this evaluation exceeds the record set by Alibaba's IPO in a
45:50
2014 and it's a rise from Spacex's $150 billion valuation
45:56
in July of 2023. Now, Spacex's new valuation
46:00
would position it above major companies like Disney and
46:04
Comcast in terms of market cap. However, the details of Spacex's
46:08
tender offer could still change at any time in the company is
46:12
projected to generate $9 billion in revenue over the whole year
46:16
of 2023 and is aiming for approximately 15 billion in
46:21
2024. SpaceX has achieved a very
46:24
dominant role in the space transportation market,
46:27
accounting for over 64% of commercial rocket launches in
46:30
the first half of this year. Elon Musk has attracted top
46:34
talent to SpaceX, including former NASA engineers and Apple
46:38
product designers. And the company satellite
46:41
business Starlink, which aims to provide Internet access to
46:45
remote areas, is seen as revenue increase from $222 million in
46:50
2021 to almost $2 billion in 2022 and 2023.
46:56
Now, despite speculation about a potential Starlink IPO as early
47:01
as 2024, late 2024, both Elon Musk and investor Ron Barron
47:07
have dismissed these rumors. Barron, who is a significant
47:10
investor in SpaceX, anticipates A Starlink IPO around 2027, with
47:16
Spacex's valuation potentially reaching 250 to $300 billion at
47:22
that point. Now, Musk has previously
47:25
indicated that he doesn't foresee Starlink going public
47:28
until at least 2025, and the company is currently focusing on
47:32
its the goal of launching this mega constellation of 42,000
47:37
satellites by next year using the Starship rocket.
47:41
Now Musk has mentioned on X, formerly Twitter, that
47:44
Starlink's IPO would depend on the company becoming financially
47:48
viable and being able to predict cash flow effectively.
47:51
Now. Currently, Starlink has achieved
47:53
break even cash flow as per Musk's recent posts, but SpaceX
47:57
reported a profit of 55,000,000 odd $1.5 billion in revenue for
48:02
the first quarter of 2023 and then more throughout the year.
48:07
The company has also raised significant capital through
48:10
stock issuance, maintaining a strong cash position.
48:13
However, it has yet to reach its projected target of 20 million
48:16
subscribers, currently having between 2:00 and 3:00 million
48:21
subscribers. SpaceX continues to attract an
48:23
investment and interest despite the uncertainty around its cash
48:27
flow predictions. It has recently secured a
48:29
contract with the US Space Force and investments from entities
48:32
like in Tessa San Paulo. Ron Baron, who is a billionaire
48:36
investor himself, says potential in SpaceX is Starlink above all
48:40
else. Expecting it to go public around
48:42
2027 with a valuation between 250 and $300 billion, have used
48:47
SpaceX and Tesla as key investments in his portfolio.
48:52
Listen to Ron Baron about this. He knows what he's talking
48:54
about, and Musk and Spacex's leadership have contemplated A
48:57
Starlink IPO. Once the business stabilizes,
49:00
Elon Musk has confirmed that Starlink has achieved break even
49:03
cash flow, though details remain unspecified.
49:06
And the company has launched over 5000 satellites and boasts
49:09
more than two million subscribers.
49:11
Now SpaceX is surging. Valuation, now around $150
49:14
billion, is significantly driven by Starlink.
49:17
Musk's decision to possibly take the company public reflects the
49:20
desire of long term investors to realize their investments out.
49:25
Spacex's stock sales are always notable events in the financial
49:29
markets, offering a rare opportunity for investors to buy
49:32
into one of Musk's most successful enterprises.
49:35
At the potential SpaceX stock sale shows that the company's
49:38
growth in Musk's ability to attract investment and drive
49:42
innovation is paramount to the success of Starlink and also
49:46
SpaceX. Now, the decision to go public
49:48
with Starlink alone, or any part of SpaceX, will be closely
49:52
watched because Elon Musk doesn't want to give up control
49:55
of the rocket company that will be bringing people to the
49:59
surface of Mars. And as SpaceX continues to lead
50:02
the space transportation and satellite markets, the company's
50:05
financials and strategic moves will remain a topic of interest
50:09
among investors and industry watchers.
50:12
As of right now, the public can't invest in an IPO of SpaceX
50:17
or Starlink, so we're going to have to wait a few years until
50:20
Elon Musk makes up the company's mind so we can all invest.
50:24
I'll be an investor right up there, right in the beginning.
50:27
Investment firm Fidelity has adjusted its valuation of shares
50:31
in X Holdings, which is a company previously recognized as
50:35
Twitter. Now, this adjustment comes as
50:37
part of the mutual fund giant's ongoing assessment of its
50:41
investment, originally made when Elon Musk acquired the company
50:44
for $44 billion. Fidelity's recent disclosure,
50:49
which includes data up to the end of November 23, reveals a
50:53
significant markdown in the value of X Holdings and the
50:56
mutual fund company now assesses X Holdings to be worth 71.5%
51:01
less than its value at the time of purchase.
51:04
This revelation includes a 10.7% reduction during November alone.
51:09
This markdown period coincided with a controversial moment from
51:13
Elon Musk, the head of X Holdings.
51:15
In November during an on stage interview with the New York
51:18
Times, Musk responded to boycotting X advertisers with
51:21
the expletive laden remark Go F yourself.
51:25
The statement possibly impacted the perception and the value of
51:28
the company now comparing to other companies in the sector.
51:32
Meta's stock rose by 4.9% in November, while Snap experienced
51:36
an impressive 38.2% increase in their shares.
51:40
These figures highlight the differing fortunes of companies
51:43
within the tech industry and provide a contrast to the
51:46
situation at X. Now, looking back, Fidelity
51:49
started marking down its investment in the company
51:52
immediately after Musk's takeover.
51:54
However, it's notable that there were periods early in 2023 when
51:58
Fidelity either increased the value of these shares or
52:01
maintain their stability. Now this indicates fluctuations
52:04
in the company's perceived worth.
52:06
It's important to note that Fidelity, despite being a
52:08
shareholder and the privately held X Holdings, may not have
52:11
extensive insider information about the company's financial
52:14
performance. This means that their valuation
52:16
could be based on very limited data and other stair holders
52:19
might have different views on the worth of the stock now.
52:22
X Holdings, in a move that caught media attention, briefly
52:25
reinstated headlines recently too.
52:29
And this is for user posts containing links.
52:32
This happened on Tuesday of this week, only to reverse this
52:35
change the following day. This fluctuation in the
52:38
platform's features reflects ongoing adjustments under the
52:42
new ownership of Elon Musk. Things happen at X really fast.
52:47
Move fast and break stuff, as they used to say in Silicon
52:49
Valley. Now this alteration came, and
52:52
after X had initially removed news, links and headlines from
52:55
post in October following Musk's assertion that such changes
52:59
would enhance the platform's aesthetics.
53:01
The removal, however, required users to click on an image to
53:04
view the title, leading to some confusion and criticism.
53:07
Musk had promised in late November that headlines would be
53:10
reintegrated into the platform in an upcoming release,
53:13
suggesting they would be overlaid on the image or the URL
53:16
card. And now this change aimed to
53:18
address user concerns about the accessibility and the clarity of
53:22
linked content. Indeed, posts on X with links
53:25
now feature headlines, though presented differently than
53:28
before. The temporary change on Tuesday
53:31
showed headlines in small text at the bottom of the image of a
53:34
URL card, specifically on the desktop version of the platform.
53:38
However, this update did not extend to all versions of the
53:42
app. The change was not implemented
53:44
in the iOS app and the Android app.
53:46
Headlines continue to appear under the image as they did
53:49
before the removal, highlighting inconsistencies in the
53:52
platform's user experience across different devices.
53:56
Some users on the web version of X are now seeing headlines and
53:59
website titles appearing over the images that link to those
54:02
pages. This changed.
54:03
While a positive, development is not without its issues, such as
54:06
truncated headlines and very hard to read small text.
54:11
The initial decision to remove headlines was driven by Musk's
54:13
desire to streamline the appearance of posts.
54:16
However, this led to difficulties in understanding
54:18
where a link image would redirect users, prompting
54:21
workarounds like embedding headlines and images or post
54:24
text. And Musk's promise to reinstate
54:26
headlines over URL cards is gradually coming to fruition.
54:30
As evidenced by these recent changes, however, the rollout of
54:33
this feature is inconsistent, particularly on Android and iOS,
54:38
and the valuation and functionality changes that X
54:40
Holdings reflect the complex and often unpredictable nature of
54:44
the tech industry and social media.
54:46
Fidelity's markdown of X shares, coupled with the platform's
54:49
evolving interface shows that there are challenges faced when
54:52
you take over a company, a legacy company like Twitter.
54:56
The situation at X Holdings is a microcosm of the larger tech
55:00
industry as well, where innovation, public perception
55:03
and market dynamics interplay to shape the fortunes of companies.
55:07
And as X continues to adjust, Musk's leadership, its impact on
55:11
the sector and the stakeholders and the money people remains a
55:14
subject of keen interest. Now, Fidelity's decision to
55:18
reduce the valuation of its shares in X Holding in
55:20
conjunction with the company's ongoing adjustments to its
55:23
platform shows that it's often volatile at Twitter, formerly
55:28
Twitter X. But X will continue to adapt
55:32
strategies, have responsive leadership and navigate the
55:35
complexities. Hey, thank you so much for
55:37
listening today. I really do appreciate your
55:40
support. If you could take a second and
55:41
hit the subscribe or the follow button on whatever podcast
55:44
platform that you're listening on right now, I greatly
55:47
appreciate it. It helps out the show
55:49
tremendously and you'll never miss an episode.
55:51
And each episode is about 10 minutes or less to get you
55:55
caught up quickly. And please, if you want to
55:58
support the show even more, go to patreon.com/stage Zero and
56:04
please take care of yourselves and each other.
56:06
I'll see you tomorrow.