Greg Westgarde
4.9K posts
Greg Westgarde
@GregWestgarde
Dad, Husband, Vestgaard Construction. Failed Rockstar,@exjwlive75 , usually the only person in the room who agrees with me🇨🇦
Calgary, Alberta Katılım Mart 2020
491 Takip Edilen836 Takipçiler
TOTAL NONSENSE from @elonmusk
One hour of his time is worth zero
since he produces virtually no profits.
This is what he financial illiterati don’t understand.
$TSLA does not earn its cost of capital.
The stock price is fueled by hopium, not profits.
Musk is a disaster when it comes to running a business.
FACTS
Jaynit@jaynitx
Elon Musk reveals the brutal math behind why a single hour of his time is worth $100 million "Tesla this year will do over $100 billion in revenue, so that's $2 billion a week. If I make slightly better decisions I can affect the outcome by a billion dollars. The marginal value of a better decision can easily be in the course of an hour $100 million" "You have to look at it on a percentage basis. If you look at it in absolute terms, I would never get any sleep. I'd just keep working and work my brain hotter, trying to get as much as possible out of this meat computer"
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@gnoble79 Good thing it’s a free market and investors can voluntarily participate or not.
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This is the most OUTRAGEOUS deal I've seen in my 45 years on Wall Street.
SpaceX just disclosed Musk's new compensation package:
He gets up to 200 million super-voting shares if SpaceX hits a $7.5 trillion valuation, establishes a permanent human settlement of at least ONE MILLION people on Mars, and deploys roughly 100 terawatts of space-based computing power.
Let me put the 100 terawatts in perspective:
The entire electricity generation capacity of the United States is around 1.2 terawatts. The comp plan asks Musk to build more than 80x America's entire power grid... in orbit.
This is a science fiction screenplay that somehow landed in front of the SEC.
But here's why it actually matters for your portfolio...
The S-1 reportedly claims a $28.5 trillion total addressable market, with over 90 percent attributed to AI. CapeFearAdvisors flagged this one cleanly: when Palantir went public, it disclosed a $119 billion TAM and the SEC reviewed and accepted it.
SpaceX is claiming a market roughly 240x BIGGER.
Now let's talk about what is actually being sold here:
Reported 2025 revenue is approximately $15.5 billion. Starlink delivers around $11 billion of that with healthy margins, and the launch business is genuinely dominant. The problem is xAI - the AI piece doing all the heavy lifting in the trillion-dollar valuation pitch.
xAI generated just $210 million of revenue in the first 3 quarters of 2025 while burning through $9.5 billion in cash.
Ben Brey and Rupert Mitchell - a former Fidelity portfolio manager and a former head of equity capital markets at Goldman and Citi between them - ran a serious discounted cash flow on the actual operating businesses and arrived at roughly $400 billion. Lawrence Fossi covered their work recently and the math holds up.
The IPO is being marketed at $1.75 TRILLION.
The gap between what these businesses support and what Musk is asking the public to pay is roughly $1.35 trillion of pure narrative.
Then layer on what we just learned last week...
The New York Times investigation revealed Musk personally borrowed $500 million from SpaceX between 2018 and 2020 at rates as low as 1%, while bank prime rates sat around 5%. The same SpaceX has been used to bail out SolarCity, prop up Tesla during cash crunches, and absorb xAI when the AI losses became unmanageable.
This is the same playbook he's run for two decades.
Use a privately controlled entity as a personal piggy bank, and when the bills come due, find new investors to absorb the losses.
The IPO is structured to keep that game going FOREVER.
The Texas reincorporation strips away Delaware's fiduciary protections. Controlled-company status on the Nasdaq eliminates independent board requirements. And retail is being offered up to 30% of the offering (3x the normal allocation) because the institutions who actually do the math are quietly stepping away.
Here is the part that finishes the case for me:
Roughly $40 billion of the IPO proceeds are already spoken for before a single dollar reaches operations. About $23 billion retires SpaceX debt. Another $17 billion retires the high-interest debt sitting on xAI and X.
This raise is not funding the future. It's just plugging existing holes that retail investors will now own.
In my 45 years I've never seen a deal where the comp hurdle is colonizing another planet.
I've never seen a disclosed TAM that exceeds verified comparables by two orders of magnitude.
I've never seen a company asking the public to fund the retirement of debt incurred by separate private entities controlled by the same individual.
Every red flag I've watched precede a major bust over four decades is sitting in this prospectus, in plain sight.
The Tesla mispricing is being repeated on a far larger scale.
And this time the bag is being handed directly to retail.
Don't be the one holding it.
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Governments chipping away at our freedom.
U.K. smoking ban: Canada should do the same, experts say ctvnews.ca/health/article…
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@baren_nick Not sure whether this meet the threshold hold of Fascist but I do find it problematic when corporations have some overreaching, altruistic, world saving goal rather than simply to provide a service or product for a price.
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The Fascist Manifesto
Palantir@PalantirTech
Because we get asked a lot. The Technological Republic, in brief. 1. Silicon Valley owes a moral debt to the country that made its rise possible. The engineering elite of Silicon Valley has an affirmative obligation to participate in the defense of the nation. 2. We must rebel against the tyranny of the apps. Is the iPhone our greatest creative if not crowning achievement as a civilization? The object has changed our lives, but it may also now be limiting and constraining our sense of the possible. 3. Free email is not enough. The decadence of a culture or civilization, and indeed its ruling class, will be forgiven only if that culture is capable of delivering economic growth and security for the public. 4. The limits of soft power, of soaring rhetoric alone, have been exposed. The ability of free and democratic societies to prevail requires something more than moral appeal. It requires hard power, and hard power in this century will be built on software. 5. The question is not whether A.I. weapons will be built; it is who will build them and for what purpose. Our adversaries will not pause to indulge in theatrical debates about the merits of developing technologies with critical military and national security applications. They will proceed. 6. National service should be a universal duty. We should, as a society, seriously consider moving away from an all-volunteer force and only fight the next war if everyone shares in the risk and the cost. 7. If a U.S. Marine asks for a better rifle, we should build it; and the same goes for software. We should as a country be capable of continuing a debate about the appropriateness of military action abroad while remaining unflinching in our commitment to those we have asked to step into harm’s way. 8. Public servants need not be our priests. Any business that compensated its employees in the way that the federal government compensates public servants would struggle to survive. 9. We should show far more grace towards those who have subjected themselves to public life. The eradication of any space for forgiveness—a jettisoning of any tolerance for the complexities and contradictions of the human psyche—may leave us with a cast of characters at the helm we will grow to regret. 10. The psychologization of modern politics is leading us astray. Those who look to the political arena to nourish their soul and sense of self, who rely too heavily on their internal life finding expression in people they may never meet, will be left disappointed. 11. Our society has grown too eager to hasten, and is often gleeful at, the demise of its enemies. The vanquishing of an opponent is a moment to pause, not rejoice. 12. The atomic age is ending. One age of deterrence, the atomic age, is ending, and a new era of deterrence built on A.I. is set to begin. 13. No other country in the history of the world has advanced progressive values more than this one. The United States is far from perfect. But it is easy to forget how much more opportunity exists in this country for those who are not hereditary elites than in any other nation on the planet. 14. American power has made possible an extraordinarily long peace. Too many have forgotten or perhaps take for granted that nearly a century of some version of peace has prevailed in the world without a great power military conflict. At least three generations — billions of people and their children and now grandchildren — have never known a world war. 15. The postwar neutering of Germany and Japan must be undone. The defanging of Germany was an overcorrection for which Europe is now paying a heavy price. A similar and highly theatrical commitment to Japanese pacifism will, if maintained, also threaten to shift the balance of power in Asia. 16. We should applaud those who attempt to build where the market has failed to act. The culture almost snickers at Musk’s interest in grand narrative, as if billionaires ought to simply stay in their lane of enriching themselves . . . . Any curiosity or genuine interest in the value of what he has created is essentially dismissed, or perhaps lurks from beneath a thinly veiled scorn. 17. Silicon Valley must play a role in addressing violent crime. Many politicians across the United States have essentially shrugged when it comes to violent crime, abandoning any serious efforts to address the problem or take on any risk with their constituencies or donors in coming up with solutions and experiments in what should be a desperate bid to save lives. 18. The ruthless exposure of the private lives of public figures drives far too much talent away from government service. The public arena—and the shallow and petty assaults against those who dare to do something other than enrich themselves—has become so unforgiving that the republic is left with a significant roster of ineffectual, empty vessels whose ambition one would forgive if there were any genuine belief structure lurking within. 19. The caution in public life that we unwittingly encourage is corrosive. Those who say nothing wrong often say nothing much at all. 20. The pervasive intolerance of religious belief in certain circles must be resisted. The elite’s intolerance of religious belief is perhaps one of the most telling signs that its political project constitutes a less open intellectual movement than many within it would claim. 21. Some cultures have produced vital advances; others remain dysfunctional and regressive. All cultures are now equal. Criticism and value judgments are forbidden. Yet this new dogma glosses over the fact that certain cultures and indeed subcultures . . . have produced wonders. Others have proven middling, and worse, regressive and harmful. 22. We must resist the shallow temptation of a vacant and hollow pluralism. We, in America and more broadly the West, have for the past half century resisted defining national cultures in the name of inclusivity. But inclusion into what? Excerpts from the #1 New York Times Bestseller The Technological Republic: Hard Power, Soft Belief, and the Future of the West, by Alexander C. Karp & Nicholas W. Zamiska techrepublicbook.com
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If a government can attain a majority through floor crossings does your vote really matter?
Is this how democracy should work?
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@FredLambert @iamgingertrash I would have reacted exactly like Elon. The attorney said “the stock market went up 27% in one day” which as you know would be almost impossible.
Why don’t you put up a clip that makes your point instead of this.
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@iamgingertrash lol everything to try to make him look good. They were talking about Twitter’s stock and him filing for his new 9% ownership of the stock right before this. He knew very well they were talking about Twitter’s stock.
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Damn, Musk looked rough in his deposition in the Twitter fraud case. Not surprised he lost.
Yeah, dude, a company's stock goes up when it's disclosed that the richest person in the world is moving to acquire it. Duh.
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Greg Westgarde retweetledi
Carney says affordability is the best it’s been in a decade.
We all know politicians lie and twist the truth, but this one is a blatant insult.
Is he that out of touch with regular people?
Check out 🇨🇦 MCGA 🇨🇦's video! #TikTok vt.tiktok.com/ZSHjatats/
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The NDP are straight up communist.
Check out Juno News's video! #TikTok vt.tiktok.com/ZSHjBvmTB/
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There was a time when former liberals like yourself and I would stay quiet about this nonsense but I think those days are over.
I don’t want to speak for you, but as for me, I’m just going to be honest now and say what I think.
This party has been infiltrated by insanity.
Also, when did calling each other “comrades” become the norm? How can anyone look upon communism with anything other than distain?
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@NashonOsborne So these individuals display a card to show their comments and opinions are more important than others.
I have no words…
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Jesus Christ. I feel like I’m taking crazy pills
Ezra Levant 🍁🚛@ezralevant
I used to laugh when I saw this sort of thing in university. But university students grow up and become teachers, bureaucrats, lawyers and judges. This is your ruling class now.
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How could even a single councillor vote for this?
Mamdani-style public grocery stores are coming to Toronto—eventually - Toronto Life torontolife.com/city/mamdani-s…
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So how to propose to “eat the rich”? The govt steals all their money and the regular citizen sees none of it?
Rob Anderson@FreeAlbertaRob
Ladies and gentleman of Alberta. I present to you…the 2026 NDP Look forward to them crowning Nenshi’s new boss tomorrow.
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@pimitopomo @BIG_J222 @TechIsMyThing I had serious issues when I left the org. with regards to beards and education. Now they have reversed course on both.
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@BIG_J222 @TechIsMyThing And also before this change, people could be judged and face serious consequences for making that same ‘wrong’ decision.
Now it’s just conscience.
So why were people punished before?
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@lloydevansXJW @TechIsMyThing The chariot is moving so fast with watchtower 2.0
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Within 48 hours of the blood policy "clarification" being announced, an updated version of my Fear brochure is now available. My hundreds of patrons, who make my work possible, get it for free. patreon.com/posts/fear-bro…
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Greg Westgarde retweetledi
Does Carney have a British accent here?
Check out CertifiedCanadian 🇨🇦🍁's video! #TikTok vt.tiktok.com/ZSuQuCQy1/
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Professor articulates the problems with Socialism
Check out Unify Action's video! #TikTok vt.tiktok.com/ZSufTjGHc/
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@LePapillonBlu2 @MisterPerfikt Government would eat that cash for breakfast. Direct payment!😂😂
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