SpaceX a clôturé son premier jour de cotation à 2 100 milliards de dollars, 19%. Tout le monde regarde le chiffre. Personne ne regarde ce qu'il price réellement. Laissez-moi vous dire ce que le marché vient d'acheter, et pourquoi je pense que cette boîte vaudra 30 à 50 trillions d'ici 5 ans. D'abord, le symbole. Cette IPO est un référendum. D'un côté, 20 ans de discours sur la décroissance, la sobriété, la redistribution, la fin de l'histoire gérée par des comités. De l'autre, un homme qui a dit "je vais rendre l'humanité multiplanétaire", que tout le monde a traité de clown, et qui vient de créer la plus grosse entreprise cotée de l'histoire en partant d'un entrepôt à El Segundo. Le marché a voté. Le wokisme avait des départements RH, SpaceX avait des fusées. Les fusées ont gagné. Ensuite, la mécanique économique, parce que c'est là que tout le monde se trompe. Les analystes valorisent SpaceX comme une entreprise de lancement plus Starlink. C'est comme valoriser Internet en 1995 sur le marché du fax. Starship ne réduit pas le coût du kilo en orbite de 20%, il le divise par 100. Et chaque fois dans l'histoire qu'un coût d'infrastructure est divisé par 100, ce n'est pas le marché existant qui grossit, ce sont des industries entières qui naissent. Le coût du calcul divisé par 100 a donné Internet, le smartphone, l'IA. Le coût de l'orbite divisé par 100 va donner une économie spatiale complète. Faisons la liste de ce qui devient rentable quand le kilo en orbite coûte le prix d'un billet d'avion. Les data centers orbitaux, avec énergie solaire continue et refroidissement gratuit, au moment exact où l'IA fait exploser la demande énergétique terrestre. La fabrication en microgravité de semi-conducteurs, de fibres optiques, d'organes imprimés impossibles à produire sous gravité. Le tourisme orbital de masse, puis les hôtels lunaires, qui passeront du fantasme au business plan exactement comme la croisière de luxe au 20ème siècle. Le transport point à point terrestre, Paris-Tokyo en 40 minutes. L'industrie minière des astéroïdes, dont un seul corps de classe M contient plus de métaux que tout ce que l'humanité a extrait depuis le néolithique. Et Mars en ligne de mire, pas comme destination touristique, mais comme le plus grand projet d'infrastructure jamais entrepris, avec tout ce que ça implique de demande en énergie, matériaux, robotique, IA. SpaceX ne participera pas à ces marchés. SpaceX possède le péage d'entrée de tous ces marchés. C'est AWS, mais pour la civilisation. Apple vaut 3 500 milliards en vendant des rectangles de verre sur une seule planète. Le premier monopole d'accès à une frontière infinie à 30 ou 50 trillions dans 5 ans, ce n'est pas de l'exubérance, c'est une simple règle de trois sur l'expansion du marché adressable. Et maintenant, la partie que je préfère. Ce futur n'a pas besoin de bureaucrates. Il n'y a pas de comité consultatif en orbite. Pas de commission Théodule sur Mars. Chaque dollar de cette nouvelle économie sera créé par des ingénieurs, des techniciens, des soudeurs, des pilotes, des entrepreneurs. Les diplômés en gestion de la norme vont devoir apprendre un métier utile, et franchement, c'est une excellente nouvelle pour eux aussi : construire est infiniment plus fun que contrôler. Parce que c'est ça, le vrai signal d'aujourd'hui. Pendant 50 ans on nous a vendu un futur rétréci : moins d'énergie, moins d'enfants, moins d'ambition, gérer le déclin proprement. Et là, d'un coup, le plus gros actif financier du monde est un pari sur l'abondance, l'expansion et l'aventure. Le pessimisme vient de passer en position vendeuse sur lui-même. Le futur sera méga fun. Il y aura des hôtels avec vue sur la Terre, des honeymoons en orbite, des gamins qui diront "papa, c'était comment avant les fusées réutilisables" comme on dit "c'était comment avant Internet". Et quelque part dans les années 2030, un humain marchera sur Mars en livestream devant 5 milliards de personnes, et ce jour-là plus personne ne se souviendra du nom d'un seul de ses détracteurs. Achetez de l'optimisme. C'est encore sous-valorisé.

Imagine replacing 90% of your employees with a team of geniuses who have no idea how your company operates. Total chaos. Nothing works. That’s what AI feels like today. The missing piece is extracting all the domain knowledge from people’s heads and providing that as structured context to the models.

Uber CEO Dara Khosrowshahi said earlier that currently, 90% of Uber’s engineers use AI, but the top 30% (power users) are seeing unprecedented productivity gains. These power-users of AI are pushing the maximum number of "diffs" to the codebase. He predicts in 5 Years the ROI of a human engineer is surpassed by the ROI of adding more AI agents and GPU power. So at that time he will just hire more AI agents and pay for NVIDIA GPUs instead of human software engineers. --- From 'The Diary Of A CEO' YT Channel (link in comment)

🦔Uber's COO Andrew Macdonald said on Saturday that the company is having a harder time justifying its AI spend. After CTO Praveen Neppalli Naga went viral in April for admitting Uber burned through its 2026 Claude Code budget in four months, senior engineering leaders concluded higher token usage was not translating into proportionally more useful product. Macdonald said the link between AI consumption and shipped features is "not there yet." CEO Dara Khosrowshahi confirmed on the earnings call that Uber is slowing hiring to fund its AI spend. Duolingo also walked back its decision to include AI usage in performance reviews last month. My Take Uber is the first major enterprise where the C-suite has publicly admitted, on the record, that the AI productivity story is not closing for them. That matters because Uber is not a skeptic. The company went all-in on AI tooling, set internal targets, and burned through its annual research and development budget in four months trying to make it work. The conclusion from the people running the experiment is that tokens consumed and value shipped are not the same number, and management is finally noticing. Duolingo's reversal lands in the same week for a reason. CEO Luis von Ahn said employees were asking whether they needed to use AI just to use AI, which is Goodhart's Law showing up in a performance review system. When usage becomes the metric, employees optimize for usage, not output. Microsoft canceled internal Claude Code licenses, Google AI Pro stripped credits from paid subscribers, and now Uber is admitting the ROI does not close at scale. The narrative has shifted in the last 30 days from "AI productivity is here" to "AI productivity is harder to measure than we thought." The companies pushing tokenmaxxing internally are now the same companies signaling cost pressure externally. The IPO calendar for OpenAI and Anthropic is going to get a lot more complicated if the largest enterprise customers keep saying this out loud. Hedgie🤗

Q: How are job postings for software engineers rising rapidly despite AI agents automating coding? A: Because there’s far more code to manage than ever before. We’re already seeing a 14x YoY increase in GitHub commits, and it’s accelerating. AI has dramatically lowered the cost of writing code, so it’s now being used across far more businesses, applications, and use cases. We’re at the beginning of a massive productivity boom driven by the proliferation of bespoke software throughout the entire economy. Coding has been AI’s breakout use case this year. The fact that it’s increased demand for software engineers — rather than decreased it — should call into question the entire “AI will cause mass job loss” narrative.

I don’t think self vibecoded software is the future for businesses A couple of months ago I vibecoded a tool for a friends business his entire staff has been using it for six months now (37 people) the thing is, he’s constantly sending me feature requests, bug fixes The app is pretty complicated since it deals with insurance benefits verification so for someone that doesn’t have software development experience you can’t just prompt to fix it (believe me, he tried) recently, the API provider changed something that broke everything he’s getting really tired of dealing with it and as Peer points out that’s why saas was built in the first place somebody who’s not in the software business will find it really annoying to now have to deal with all the maintenance saas is not dead

Today @Astra__AI surpassed 1,000,000 users. 🚀 It took us more than a year and a half to reach our first 100,000 users. Then it took us half a year to reach half a million... We acquired the last 500 thousand users in just over a month. Next stop: 10M 💙

join me and @__MLO_ in 20 minutes talking with @0xAriAstra and @stephen_yo right here on X → where's the intersection between social, reputation and lending ? → how does 1 1=3 with @NFTfi @ethos_network

Bro makes $200k a year for just "walking Dogs" x.com/chude__/status/1953339…

almost the right take! there are very few CryptoPunks, only 10,000.

Autoglyph #367 bought for 96.5 ETH ($365,600) by 0x420115 from 0x18e804. opensea.io/assets/ethereum/0…

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The Infinite Node Foundation (NODE) is pleased to announce the acquisition of the intellectual property of @cryptopunks from @yugalabs. Launched by Larva Labs in 2017, CryptoPunks are widely regarded as the catalyst for the modern digital art movement. Their $3.07B in sales have established Matt Hall and John Watkinson as the highest-selling living artists of our time. The pioneering collection of 10,000 unique, algorithmically generated pixel art characters now lives within the most well-capitalized nonprofit dedicated solely to digital art in the United States. Formed in 2025 by Micky Malka and Becky Kleiner, NODE’s purchase of the the IP and additional $25M endowment outpaces the digital art funding of all major U.S. institutions. NODE exists to build networked architecture for digital works like CryptoPunks to be studied, exhibited, and contextualized within the art-historical canon. This transition isn’t about ownership, but liberation. Freed from corporate friction and limitations, the Punk ethos can now thrive through a decentralized, community-driven future. To guide this journey, NODE has assembled a Punks advisory board led by Matt Hall and John Watkinson (Larva Labs) along with visionary voices in the project’s history, Wylie Aronow (Yuga Labs), and Erick Calderon (Art Blocks). In addition, we are happy to share that we will be enlisting Natalie Stone as a consultant to support the NODE team during this transition. This vision begins with a major exhibition of the full 10K collection, to debut alongside the opening of NODE’s permanent hub and exhibition space in Palo Alto. Here, NODE will host a full Ethereum node to contribute towards the permanence of the works housed within. Under our stewardship, CryptoPunks will remain as the artists intended, while continuing to stand as the defining collection of this century’s defining art movement. Thank you to all who have been a part of the Punks journey. Our new chapter together begins now.

DeFi keeps humming along stablecoins onchain keeps growing staking ETFs are about to be approved TradFi institutions finally building on it POTUS builds a DeFi project on it but we're still talking about if Ethereum is about to die man, idk anymore