Cyriel Kronenburg
1.7K posts

Cyriel Kronenburg
@c_kronenburg
All opinions and views are my own
Washington DC Katılım Kasım 2010
299 Takip Edilen156 Takipçiler

ALARMA EN EL ESTRECHO DE ORMUZ
En este preciso momento, una flota masiva de petroleros estadounidenses está cruzando el Estrecho de Ormuz. Son tantos que es casi imposible contarlos.
Y no van solos: una enorme escolta de aviones de combate los acompaña en formación, dominando el cielo.
El pulso del petróleo mundial latiendo bajo máxima protección.
La tensión en la región acaba de subir varios niveles.
¿Coincidencia o mensaje claro

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Cyriel Kronenburg retweetledi

Has anyone tagged @virginia_tech my alma mater too? I’m sorry but with all the hate we suffered when 32 perished less than 20 years ago to allow this to happen on campus and using the Virginia Tech name is promo materials is egregious. I believe someone owes the public an explanation…and cancel this
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@CAgovernor Because there are no organisms in water that rely on the sun
Typical
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While the Trump Administration tears down clean energy in favor of fossil fuels, California is activating a pilot project for the nation’s first solar-covered canal.
We're investing in new technologies to find more solutions for lowering costs, saving water, and preparing for a hotter, drier future.



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@gnoble79 Dude, it’s X, if you want to write a book, get a typewriter.
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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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@TheFl0orIsLaVa They don’t have a left wing trying to kill them daily
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@realBrianGordon @davidaxelrod @POTUS If Trump would become a democrat again, all democrats would become republicans, TDS is that bad
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David, so other than just opposing the ballroom purely for the sake of opposing Trump, why is it such a bad idea?
It's not funded by taxpayer money and every future President will be able to use it for far longer than him.
I honestly think that guy's like you just shit on things like this for no other reason but to oppose him.
If Obama did it you'd call him the Messiah. Be intellectually honest for a change.
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Here's the official statement announcing plans for a grand new White House ballroom last July. Not one word about the need for it due to security.
Last night, the @POTUS & his acolytes immediately seized on the WHCA attack at to justify his dream project. whitehouse.gov/briefings-stat…
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@ADnl Als je op de kaart kijkt kun je daar niet veel tegenin brengen, beetje Paramaribo - Amsterdam
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De eilanden ‘waren, zijn en zullen altijd Argentijns zijn’, schreef president Javier Milei van Argentinië vrijdag op X ad.nl/buitenland/arg…
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@NXT4EU So do I interpret your message they are selling all 787 and 777 and replacing them?
If so, nice story , if not, stop spreading lies
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@compliantvc My commute is 5 mins, but nice try.
Having lived in the Netherlands most of my life, you’d need to sell your home to afford commuting by train to Brussels
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Meanwhile, the average American spends 3 hours in traffic each morning on a congested interstate just to travel 12 miles
No wonder the EU is winning in basically every economic metric besides petrol sales
Amazing Maps@amazingmap
How far you can travel by train in 3 hours from Brussels
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@RepKamlagerDove So it’s about Trump, that explains a lot
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So far, FIFA has:
- Overcharged fans for tickets with sky-high prices driven by dynamic pricing;
- Allegedly gave fans tickets in worse seats than what they paid for; and
- Refused to help host cities and states with transit and security costs, causing NJ Transit to charge fans more than $100 for a train from NYC to MetLife that is normally $12.90
If FIFA can give Trump a made-up peace prize, they can make the World Cup successful and accessible. The festivities should be about the fans and the beautiful game—not FIFA's profits.
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@CBSNews I’m pretty sure this is pure TDS because FIFA honored him they want to destroy the games out of spite. Sick
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President and CEO of NJ Transit Kris Kolluri told reporters Friday that regional transportation tickets for FIFA World Cup matches will be sold on a "first come, first serve" basis.
He said "once 40,000 tickets are done, that is the end of it." Those unable to secure a ticket to get to the game will "have to go somewhere else," he said.
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@GovSherrillNJ So when your commie brother Springsteen is in the area next you’re going to tell him he needs to include parking and transit fares in his concert tickets too right, right?
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FIFA is charging fans up to $10,000 for a single ticket to the final.
They’re charging over $200 for “premium” parking at the American Dream Mall – while eliminating parking at MetLife Stadium.
They’re set to make $11 billion off of the World Cup overall.
But New Jerseyans should foot a $48 million bill for transportation costs?
Not happening.
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To Recap:
Our Administration inherited an agreement where FIFA contributes $0 toward transportation for the World Cup – while also eliminating parking at MetLife Stadium.
Except for premium parking, where FIFA is charging over $200 per spot.
As a result, NJ TRANSIT must carry four times the usual ridership for events at the venue, at a cost of $48 million.
New Jerseyans shouldn’t be stuck with that bill while FIFA makes $11 billion in profits.
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@SenWarren It’s nice to say that, but you’re in congress, maybe make a change to the law that lets them deduct so much that they do not have profit on paper?
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@AdamKinzinger What’s next, they kill a democrat in Boston and you’re calling on revenge in VA, just because?
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@AdamKinzinger You guys are such hypocrites, you are really saying out loud that you are ok hurting half your constituents for something they did in Texas? Wow…
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Virginians: there are few people that hate gerrymandering more than me. But the Republicans violated norms with the Texas mid-decade redistricting, simply to grab power. The ONLY way to stop these acts is to make them backfire. Vote YES on the redistricting measure… otherwise their sick move will be rewarded. If you dislike gerrymandering make it clear that Texas gerrymandering will backfire.
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