Pretty good progress

4 STOCKS BUILDING THE FUTURE OF SPACE CONNECTIVITY The SpaceX IPO in two weeks will force the market to focus on the real monetization layer of space which is connectivity where $ASTS, $AMZN, $SPCX & $IRDM generate actual recurring revenue from orbit: 1. AST SpaceMobile (D2D pure-play) • Cleanest pure-play in space-based cellular broadband with MNO partnerships covering 3 billion subscribers including AT&T, Verizon, Vodafone & Rakuten plus large-aperture phased array technology that connects directly to standard smartphones. 2. Amazon (integrated satellite stack) • Building one of the deepest satellite communications stacks through Amazon Leo with active constellation deployment, ~$12B $GSAT acquisition, $AAPL iPhone & Apple Watch Emergency SOS partnership transferred to Amazon Leo plus $20B of capex committed through 2027. 3. SpaceX (Starlink plus launch ownership) • Vertically integrated broadband leader through Starlink with largest satellite constellation in history covering ~65% of all operational satellites in space, 10M subscribers, $11.4B in 2025 revenue ( 50% YoY) plus full ownership of launch stack through Falcon 9 reusability. 4. Iridium (global LEO incumbent) • Operates only truly global LEO satellite network covering the entire planet with 66 satellites & ~$918M in cumulative EMSS contracts with U.S. Space Force plus proprietary PNT services that serve as the most resilient alternative to GPS.

🚨 SPACEX MAY BE THE BIGGEST INSIDER CASHOUT IN MARKET HISTORY!!! SpaceX is expected to go public on June 12 at a valuation of $1.75-$2 TRILLION. That would instantly make it larger than Microsoft and second only to Apple and Nvidia in the US market. Yet the company lost $4.28 BILLION in Q1 2026 alone and has accumulated deficits of $41.3 BILLION since founding. The real story is what happens after the IPO. Insiders currently own 95% of all shares. The public float is only 5%. And insiders are sitting on $1.66 TRILLION of paper wealth that cannot currently be sold. Most IPOs lock insiders up for 180 days. SpaceX isn't doing that. Just 60 days after listing, 20% of eligible insider shares can unlock. If the stock rises 30% above the IPO price, another 10% unlocks. Then five separate 7% unlocks hit between days 70 and 135. By November 2026, 93% of early-release insider shares could already be free to sell. This isn't just an IPO. It's one of the biggest liquidity grab events Wall Street has ever seen.

Watch Falcon 9 launch 24 @Starlink satellites to orbit from California x.com/i/broadcasts/1mxPaLgeM…

Falcon 9 launches 24 @Starlink satellites from California

Starship V3 takes flight for the first time → spacex.com/launches/starship…

If you don’t say “no” to good opportunities you won’t have time to say “yes” to great ones.

You will be richer when you understand leverage.

"Asymmetric opportunities: Invest in startups Start a company Create a book, podcast, video Create a (software) product Go on many first dates Go to a cocktail party Read a Lindy book Move to a big city Buy Bitcoin Tweet." @naval

There are no returns to doing “average” work (outside of make-work jobs and physical labor). All the returns come from doing *great* work, and scaling it up.