00:00First quarter revenues for SpaceX almost $5 billion.
00:03What they're claiming is that this is a company where Musk
00:07being total in total control and as we've just headlined which
00:10will need voter approval is going to work because it's vertically
00:13integrated. The rocket platform is giving them the best opportunity
00:18to dominate satellite based broadband connection.
00:20They basically are making the claim that even as of now they
00:24are the leading satellite broadband provider.
00:26We're going through it and what we're trying to work out is like
00:29the structure of what's going on. In the calendar year 25 company
00:34notched $11.4 billion of revenue. But clearly if you look at like the
00:38jump from where they ended last year into the first quarter of this
00:41year there's a really big acceleration here where in the
00:44interim Starlink and space based internet accounts for so much of
00:48it. But they're clearly outlining the path forward here.
00:51That is space based data center.
00:53All right. So just walking through a couple of the headlines walking
00:56through right now on the Bloomberg terminal Starlink has about 10.3
01:01million subscribers something that potential investors really did want
01:05to know here. The space segment revenue at about $619 million total
01:09revenue for the last full year for SpaceX as a whole $11.4 billion
01:14here. And I'm also curious about this Ed this idea that it's entered into a
01:20compute pack with any sphere. And I want you to know if you could kind of
01:24and you have to talk to me you know like I'm a five year old here because
01:26this gets kind of complicated about how Elon is sort of structuring this
01:30company and what he wants it to be because clearly he's not envisioning this
01:34as just a rocket launch company. No basically why does SpaceX need to go
01:40public for the function of raising lots of money.
01:44What they're outlining in the document and it's dense right been through as
01:47much of it as I can in six minutes is a world where if they get their rocket launch
01:52system fully reusable and the cadence right they build out a massive network of
01:57satellites that operate as data centers. But the point of the data centers is
02:02inference running AI workloads on a dollar per token basis that would make
02:09them if they can get the economics of it right better and more competitive
02:13than a data center here on earth terra firma that's a big thing camera lots of
02:18servers on it. And the money raised from this IPO which we can get into in a sec
02:24is used to buy GPUs. It's kind of simple equation from that standpoint.
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