Space is now a $686 billion economy, and most of the money isn't in rockets. Starlink made $11.4B last year, $RKLB is buying Iridium for its subscribers and space VC hit $23B in 12 months. Where the money is, who's making it and the risks, in one read:

How much does catching the ship actually change Starship's cost? In my simple model, catching and reflying both stages cuts a Starship flight from about $37M expendable to about $9M, if each vehicle flies 10 times. Per kg, that's $370 down to $90. At the twice-weekly cadence SpaceX is aiming for by the end of 2027, that's about $2.9B a year less spent on launches. Why: an expendable flight writes off the whole rocket, which is estimated at about $35M once production matures. With reuse, that build cost is spread over many flights, and each flight mainly costs fuel (about $0.9M, per Musk), operations and refurbishment. Reusing only the booster gets you about halfway, to $21M, because the ship is still thrown away. That's why the ship catch is the big step.

🇬🇧 angle on this one 👇 - @Filtronic a County Durham firm that makes E-band GaN amplifiers, the parts that boost high-frequency radio links in Starlink's ground stations reports SpaceX was 68% of its FY26 revenue. - Market cap about £596m - If Starlink capacity scales as Elon suggests, demand for ground links could be a huge accelerant for Filtronic's business.

Did @elonmusk just say "In a nutshell, what this implies for SpaceX annual recurring revenue by the end of 2027 is somewhere between $500 billion and $1 trillion."

Big beat for $SPCX

Elon announcing he's gifting every child in America one $SPCX share prior to earnings is giving me the vibe he's seeing exponential growth behind the scenes and they are going to smash earnings to the upside today but let's see!

🚀 Spain's @PLD_Space just posted a Miura 5 update: - 3 rockets built (2 test units, 1 for flight) - 7 engines and 13 tanks done - €42.7M spent with 493 suppliers - First flight aimed for H1 2027 from Kourou

One share per kid sounds small but: - About 73M US kids under 18 in the 🇺🇸 - $SPCX closed at $146.03 on Friday - That's roughly $10.7B of stock Gwynne Shotwell gave 2M+ kids a share each in July. Guessing this would be part of the Trump accounts. Shout out to @altcap for the amazing initiative!

Would love to see Europe and the UK's best entreprenuers follow suit to help change the mind of the younger generation towards capitalism. I could imagine @patrickc @collision doing something like this with Stripe one day.

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It's pretty clear @bot is going to be the brain for Optimus and the two will end up converging in physical AI - hence the $TSLA and $SPCX merger making sense

Texas has weighed selling Boca Chica State Park to @SpaceX, per Texas Monthly: - 1,300 acres next to Starbase - Was on a draft 5 Nov closed-session agenda - Parks dept now says it's off the Nov agenda SpaceX wants 456 launches a year, up from 25. Land is the bottleneck.