Investing for my kids inheritance.

Joined September 2009
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25 Feb 2024
Replying to @hongcham
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Hong retweeted
If you want something from someone, make it clear what. It's not imposing to ask explicitly for something; it's imposing to be vague and make the recipient work to figure out what you want.
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Hong retweeted
The people who created 40 Trillion in debt are angry that Elon Musk created 1 Trillion in wealth.
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Random thoughts for a Monday: 1. Can we commit NYT writers, MSNBC pundits, and think tank Galaxy Brains who constantly talk about how awful America is and how badly we are losing to insane asylums? I am not about to say we are perfect but by really any comprehensive group of measures we are the best country on earth. After government transfers, the bottom 40% of the US income earners have a higher monetary income and significantly higher consumption than the average of most every European country. Our problems are problems of plenty not want. Obesity is problem because of the damned but delicious Cheesecake Factory. I could go on and on but these people need to be committed. 2. One thing I've learned is how little facts and rationality matter. Countries or people frequently have to experience the pain themselves before they believe. Europe was told for decades about needing to upgrade their military, they were told for quite some time about China. In both cases they refused to do anything until pain was imposed upon them. In other cases, people adopt the mentality of oppositional defiance taking an opposing position regardless how reasonable a request. They've been warned for years and years about everything from tech dangers to Chinese trade and they have refused pretty much all reasonable approaches. At some point you leave them to their own devices and hope the outcome isn't a disaster. Is this time different? Maybe. Hopefully. I won't believe it until I touch the European tariffs on China myself. 3. Whether anyone wants to admit it or not we are seeing a real time a clear rotation of US focus away from Europe and towards west and east Asia. US alliance building in those regions is very strong. The Galaxy Brain attempted narrative that Trump is dovish on China is belied by the fact he has already sold more military hardware to Taiwan in year 1 of Trump II than Biden did in 4. Add in the major increase in defense spending coming and it is very clear what the entire focus is. 4. We should criticize and hold the Trump administration accountable but the criticisms by ex-Biden staffers are deranged. Biden staffers accomplished nothing with Europe re: China but have the temerity to criticize Trump for not getting Europe moving. Deranged. You want to criticize them, always be pushing for more and harder measures on China? You want to hold them accountable, ensure military spending is actually generating rare earth capacity, that trade arrangements are made to move pharmaceutical supply chains out of China. 5. People fail to grasp the different types of actions needed. Example: I read a recent report that talked about all the positive actions America should take on an industry to deal with Chinese behavior. I might quibble but nothing really objectionable in the report about the positive actions (to build America capability) BUT and this is where it jumped the rails, there was basically nothing in the report about imposing negative actions on China. This is like getting a cancer diagnosis and deciding to exercise more. You know what, it is almost always good advice to exercise more and eat better but if you don't take direct steps to target the cancer you're still going to die from cancer. 6. People fail to grasp the difference between what I/we control and what we do not. We do not control Chinese or European policy choices, we do control our policies vis a vis China. US policy makers do not control the economic model Chinese policy makers prefer. US policy makers do control policy that impacts the goods flow that result from their chosen economic model and resultant policy choices. Control what we can control rather than trying to tilt at meta-policy windmills.
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Hong retweeted
MSM are evil I look fwd to the day when reporters can be JAILED for 10 years for lying This is how you save MSM and to the evil journalists out there,,, may you all ROT IN HELL
They chose that headline and photo on purpose. It’s clear they are hoping to inspire the next Luigi Mangione. We still don’t hate journalists enough.
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Jun 15
The Elon’s value to the world
SpaceX raised only $12B of capital before going public. With that $12B, they revolutionized the rocket industry, built a global satellite network, and created arguably the most innovative company of all time. The federal government spends $12B every 15 hours and still can’t get its shit together. Prior to SpaceX, NASA was sending astronauts into space on Soviet-era Russian Soyuz capsules. So no, I don’t find Elon’s wealth to be a problem, and I wouldn’t trust Elizabeth Warren or Bernie Sanders to allocate a single dollar of it.
Hong retweeted
Real-world example of private industry vs. government bureaucracy. Compare: SpaceX founded in 2002: $12B in capital invested VOLUNTARILY to transport humans, satellites and rockets into SPACE. California High-Speed-Rail started in 2008: $15B FORCED from taxpayers to build a high-speed rail system to transport only humans across the EARTH. Results: SpaceX spent $12B: Revolutionized rockets, satellites, and space travel. Over 15,000 payloads launched into space, over 12,000 Starlink satellites deployed, over 99% success rate across Falcon launches. California High-Speed-Rail spent $15B: After 17 years, still has not transported a single passenger to any destination anywhere on the planet. Consequences: SpaceX - Success ✅ Goes public over $2T increases shareholder valuation thousands of percent and humanity benefits. California High-Speed-Rail - Failure ❌ Taxpayers zero recourse to recover wasted $15B . No politician held liable. No contractor accountable. All money is simply RIP. If you were wondering why so much hate for Elon, career politicians pushing big government continuously humiliated by successful entrepreneurs. Musk produces with private funds the most sophisticated engineering marvels in human history. Government boondoggles create nothing, with no recourse.
SpaceX raised only $12B of capital before going public. With that $12B, they revolutionized the rocket industry, built a global satellite network, and created arguably the most innovative company of all time. The federal government spends $12B every 15 hours and still can’t get its shit together. Prior to SpaceX, NASA was sending astronauts into space on Soviet-era Russian Soyuz capsules. So no, I don’t find Elon’s wealth to be a problem, and I wouldn’t trust Elizabeth Warren or Bernie Sanders to allocate a single dollar of it.
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My quote from the New York Times today: Adeo Ressi, Mr. Musk’s college roommate at the University of Pennsylvania, said the SpaceX chief never cared as much about financial gain as obtaining resources to help him achieve his entrepreneurial goals. For Mr. Musk, “money is a means to an end,” Mr. Ressi said, comparing his friend’s mind-set to a gamer accumulating coins in a video game to beat a level. “He’s amassing resources to do things, and the thing he wants to do most is colonize Mars,” Mr. Ressi said. “That’s a really big driving force behind his wealth accumulation.” He added that Mr. Musk was “not a poster child of wealth inequality” and pointed to the tech leader’s lifestyle, in which he is known to work around the clock and avoid the typical trappings of the rich, like islands and megayachts. “It’s not like he’s planning to leave this in a massive family trust,” Mr. Ressi said. “It’s literally going to be used to make humanity into a multiplanetary species.” 🚀 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 Congratulations on the SpaceX IPO! nytimes.com/2026/06/12/techn…
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It's clear that a lot of people just want to be proud of their country again after a Long Dark Winter when patriotism was basically equated with genocide for a decade-plus It's not "crass" to lift the national spirit after enduring that, White House should do this all summer
WE HAVE A BALD EAGLE MAKING AN ENTRANCE AT THE UFC FREEDOM 250 WEIGH INS [ #UFCWhiteHouse | SUNDAY, JUNE 14 | 8PM ET LIVE on @ParamountPlus ]
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Jun 14
Well said
I grew up mostly raised by my grandparents — staunch Union Democrats. My grandfather (born 1901) started working at age 11 on the new oil refineries near Spindletop in Beaumont, TX, right after that legendary gusher. He spent 55 years as a manual laborer and die-hard union worker, helping build America’s energy infrastructure before retiring in 1967. He came home beat every day. Work was tough back then, but so were the men. He loved this country, loved seeing it grow and prosper. He didn’t hate the men who signed his paycheck — though the union fought them when needed. Both sides were made of tough men. They fought, but they also shared the goal of building something bigger. He loved Horatio Alger stories. He loved progress. My grandmother said he was glued to the TV during the Moon landing. He was proud when I joined the Marines at 18. He didn’t just love America — he wanted it to win. He was the Democratic party of the 1930s-1960s. He's the man who taught me all of the values I carry with me today. I don’t recognize today’s Democratic Party. It feels completely foreign to me, divorced from the values I learned at my grandparents feet. The Democrats at the Carpenters Union Hall where my grandfather would meet from time to time were strong men, body and mind, and they loved this country. Most had served and fought for this country. Today’s Democrats seem like weak miserable people who hate progress. This hit home for me today when I see DNC voices on X attacking Elon and everything he builds, when they should be proud that all of this is happening in America. I’m proud to stand with this Tesla and SpaceX community. That is my party. Not Democrat, not Republican, but Tesla/SpaceX nerds who couldn't get nailed in woodshop. We have our squabbles for sure. But we’re all excited about the future. We want America to lead in AI, robotics, autonomy, and space exploration. I am so proud to throw my lot in with you crazy people.
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Hong retweeted
.@BernieSanders , it is a time to celebrate. @elonmusk has created enormous value for society by building @SpaceX, driving down the cost of rocket launches and creating a global satellite communication network that has brought high speed, low-cost internet and communication access to hundreds of millions and eventually billions of people along with critical advantages for our military and our nation’s defense. SpaceX and its technologies will cause an acceleration in the growth of wages and wealth creation globally, including in some of the poorest communities in the U.S. and around the world. Access to low-cost, high speed communications everywhere will allow children around the world to be educated, families to build businesses, and life-saving medical knowledge and care to be available everywhere. SpaceX will materially bring down the cost of compute, advancing AI and humanity. Meanwhile, 4,000 SpaceX employees yesterday became millionaires, including hourly wage employees who you claim you are trying to help. The Elon Musks of the world drive growth, global GDP, and provide access to goods and services at lower cost that would otherwise not exist. Elon’s nominal trillionaire status is due to his ownership of SpaceX, Tesla, Neuralink, the Boring Company and his other initiatives that have brought new technologies that improve our everyday lives. Elon is not sitting on a trillion dollar pile of cash, jewelry and gold. He is using his controlling stakes in his companies to advance mankind. Elon’s companies don’t pay dividends. They reinvest all of their capital to accelerate innovation and value creation. Elon is working 24/7 for all of us. He deserves respect and appreciation, not smears. Bernie, your socialism would never allow a SpaceX to be built. Socialism has only proven to impoverish mankind and lead to death and destruction. We need to create the conditions for more SpaceXs to be built, not attack the great entrepreneurs who are helping to advance our country.
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Jun 13
Copilot record your Windows screen
If you use Windows, you need to read this. Microsoft's AI takes screenshots of your screen every few seconds, your banking, your messages, your passwords as you type them. It stores everything you've looked at, searchable. Here are 5 moves to shut it off, and check if it's already been recording:
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Hong retweeted
Replying to @NYCMayor
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Hong retweeted
1 Sep 2021
Replying to @thesheetztweetz
They can shake their fist at the sky
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Jim Cramer on @SpaceX going public: "We should encourage wealth, and this one is ultimately going to make people a lot of money. He (Elon) probably has things in his head that are far more valuable than what we see. There's more to this company than what's in the prospectus. Personally, I'm proud to be an American today. I think this one is more than a piece of paper. It reminds me of when we landed on the Moon and I realized we had beaten the Russians." Full video: youtube.com/watch?v=ZmMAK3pZ…
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Jun 13
Life-changing technology. Elon makes a giant ding in the universe.
When PayPal sold to eBay, Elon Musk got $160 million. Most people would retire and live the rest of their life in luxury. Put it in an investment account and live off the interest. Not Elon. He put $80 million into Tesla, an electric car company, and $80 million into SpaceX, a rocket company. It's hard to remember now, but both of these ideas sounded batshit insane and highly likely to fail 20 years ago. Things weren't easy. At one point, both of the companies were at risk of dying. Elon was advised that he could probably put the money together to save one, but not both. He was told to focus on one business, and let the other go. He mulled it over. Which one should he save, and which one should he let go? But ultimately he just couldn't decide. He said these two companies were like children to him. They were both so important, and he loved them both so much, that he couldn't let one die. He had to fight with everything he had to save them both. Today both are multi-trillion dollar publicly traded companies. Both have had an utterly transformative impact on their respective industries. I can't imagine how difficult it was to go through that time, but thank god Elon couldn't choose a favorite child.
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Hong retweeted
When PayPal sold to eBay, Elon Musk got $160 million. Most people would retire and live the rest of their life in luxury. Put it in an investment account and live off the interest. Not Elon. He put $80 million into Tesla, an electric car company, and $80 million into SpaceX, a rocket company. It's hard to remember now, but both of these ideas sounded batshit insane and highly likely to fail 20 years ago. Things weren't easy. At one point, both of the companies were at risk of dying. Elon was advised that he could probably put the money together to save one, but not both. He was told to focus on one business, and let the other go. He mulled it over. Which one should he save, and which one should he let go? But ultimately he just couldn't decide. He said these two companies were like children to him. They were both so important, and he loved them both so much, that he couldn't let one die. He had to fight with everything he had to save them both. Today both are multi-trillion dollar publicly traded companies. Both have had an utterly transformative impact on their respective industries. I can't imagine how difficult it was to go through that time, but thank god Elon couldn't choose a favorite child.
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Dream do come true
Today feels like a good day to reshare this clip of Ariane Aerospace’s CEO calling SpaceX’s reusability plans “a dream”
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Apple is using NVIDIA chips for its large AI model.
For now, another Big Tech AI Infinity Stone for Jensen... spyglass.org/inklings-social…
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Congratulations @ElonMusk. Thanks to SpaceX's IPO, he's the first Trillionaire. He didn't TAKE money from anyone. He CREATED wealth. He launched satellites that connect even the poorest, most remote parts of the world. Our world needs more MAKERS like Musk; fewer TAKERS like:
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Elon employs ~160,000 Americans and in one morning created thousands of millionaires… You have done nothing for America.
Elon Musk just became the world's first trillionaire. The typical American household would have to work more than 11 MILLION years to make Elon Musk's level of wealth. We need a wealth tax.
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