MJ1907

SpaceX millionaires 4,000 x $1mil , 400 x $100 mil Every employee who joined before the first succesful launch made (unless they sold early) more than $100 million. SpaceX lists June 12 at ~$1.75T. Work backward from the cap table. At $1.75T, clearing $100M takes ~0.0057% of the company. - 2002–2008, first ~500 in: joined at a ~$50M company. Held to $1.75T = a 17,000x. The core of the club — maybe 150–250 left holding - September 2008, SpaceX has first successful launch - 2010–2016: joined at $1B–$10B. Needs a senior grant — directors, principal engineers, early Starlink. ~100–200 - C-suite + board: Shotwell, Johnsen past $1B. A layer of SVPs below them clears $100M on equity, not salary. ~20–40 - Post-2016: joined at $20B–$350B. To hit $100M you'd have needed ~0.4% of the company. Impossible for an employee. This is the millionaire tier — almost none reach $100M The tally: ~400–500 at $100M+ A few dozen above $500M A handful of billionaires past Musk Same building. Same mission. Two orders of magnitude apart — set entirely by what year you walked in. Early isn't a strategy. It's a date stamp.

We are grateful that the NCAA accommodates BYU policy not to compete on Sunday. They gave us the opportunity to play our Sunday round on Thursday. We will join the other teams for the official round 1 tomorrow.

Just watched Lydia Ko and Lexi Thompson tee off, and it’s quiet. Weather is nice for watching golf. Let’s hope the traffic picks up.

Not sure I’ve ever seen Gerry not wearing a Seminole logo.