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The Wall Street Journal reports that Musk borrowed $1 billion from SpaceX in October 2022, the same month he bought Twitter. The loan was backed by some of Musk’s SpaceX stock and Musk drew all of the funds down the same month. According to a filing with the Federal Communications Commission, as of March 2023, […]
Documents reveal that SpaceX turned a small profit during the first quarter of 2023. After two annual losses, the company generated $55 million in profit on $1.5 billion in revenue. (First-quarter results are preliminary, though, while annual results are final.) SpaceX is also valued at roughly $150 billion at an employee stock sale, putting its […]
In part due to its rebrand, X announces it is auctioning off a large number of Twitter-branded items, including the bird logo that was previously on the outside of the building. Other items for sale include sculptures, booths, chairs, computers, couches, musical equipment and artworks. The auction, hosted by Heritage Global Partners, will start on September […]
Nuralink announces it has raised $280m from Founder’s Fund, a venture capital company established by Peter Thiel. We’re happy to announce our $280M Series D round led by @foundersfund. We’re extremely excited about this next chapter at Neuralink. We’re happy to announce our $280M Series D round led by @foundersfund. We’re extremely excited about this […]
The X sign on the former Twitter headquarters building’s roof is removed, after complaints were made to San Francisco’s Department of Building Inspection. One complaint described the sign as displaying “extremely intense white stroboscopic light” that was “causing distress and nausea,” while others said it could topple in an earthquake. After earlier attempts to inspect […]
Musk confirms Twitter’s rebrand by changing the apps’s logo from the bird to X, which he describes as ‘minimalist art deco,’ He also changes his Twitter bio to ‘X.com’, which redirects to what used to be twitter.com, and his profile picture to X, In a late night email, Musk writes to Twitter employees confirming the […]
Musk says Twitter is planning to change its logo, Larry the Bird, which has been in place since creation of the company in 2006, to an X. Along with the logo change, the domain for the social media site will become X.com, and Twitter will become a subsidiary of Musk-owned X-Corp. And soon we shall […]
Jeremy Sonne, founder of Daypart.AI, details his trade of the burnthair.com website domain to the Boring Company. Just after Musk announced Boring’s plan to sell “Burnt Hair” cologne, Sonne bought the domain and tweeted at Musk, offering him the domain if the billionaire would “have lunch with me at the gigafactory or coffee or something […]
Musk says Twitter has a “negative cash flow” and its advertising revenue has declined by about 50% amid a “heavy debt load” as competition between Twitter and Threads intensifies. This comes just as Twitter began paying content creators for posting advertisements. Some users are reporting payouts of over $100,000, and Musk himself says Twitter will […]
Musk announces the formation of a company called xAI. The startup is geared toward artificial intelligence and employs several engineers who have worked for companies like Google, Microsoft, and OpenAI. Along with the amount of funding it has, xAI’s specific objectives are unclear, as is exactly what it will focus on regarding AI. The company’s website […]
Tesla says it delivered a record number of vehicles for the three months from April to June, delivering 466,140 vehicles, 80% higher than last year. The company says it lowered prices in markets including the US, UK and China to compete with rival manufacturers. The company is due to report its financial results for the […]
After a Twitter user asks Cuban who costplusdrugs.com does not offer Invermectin, which the user says “costs $0.02 per pill in Africa, 100x mark-up in America”, Musk responds: Good question A few hours later, Cuban responds to Musk: I’m sorry I didn’t see you enter the discussion @elonmusk. The price we were able to get […]
Musk hires a 14-year-old to work as a software engineer at SpaceX. Having been described as a genius and a “wonder kid” for his academic achievements, Kairan Quazi’s IQ tests suggest he is in the 99.9th percentile of the general population. He already completed an internship at Intel, and after he graduates from Santa Clara […]
For the second time in just over a month, Musk will meet with Macron to discuss building a Tesla Gigafactory in France. France has been courting Tesla to build factories in the country, but is competing with other EU countries like Spain, which is also in talks with Tesla. Macron: I’m going (into that meeting) […]
In a bid to build a factory there, Tesla is negotiating with the regional government of Valencia in Spain. A spokesperson for Valencia’s government says it had held meetings and conversations with a company about a “large automobile investment,” but did not specify which company it was, citing the confidentiality of the negotiations. Tesla’s total […]
According to an internal presentation obtained by The New York Times, Twitter’s U.S. advertising revenue for the five weeks from April 1 to the first week of May was $88 million, down 59% from a year earlier. The document says the company has regularly fallen short of its U.S. weekly sales projections, sometimes by as […]
According to Fidelity, which helped finance Musk’s purchase of Twitter, its valuation of its equity stake in the company puts the total value of Twitter at $15 billion, around 33% of what Musk originally paid for it. Fidelity downgraded its holdings in the company by 56% a month after the acquisition, by 63% in February 2023, […]
Tesla releases a two-minute Twitter video on its Tesla Asia account (which has only 172,000 followers, compared to its main account’s 21 million) called “Drive to believe.” The ad highlights Tesla’s Autopilot feature, infotainment system, the Tesla app, as well as featuring a Model 3 owner and mother of two children saying she was initially […]
Senior Tesla executives visit India, meeting officials from Modi’s office and other ministries to discuss local sourcing of parts and more. The executives propose setting up a factory in India to build electric cars for domestic sale and export, but no location or investment has been specified. Though India previously declined Tesla’s request to lower […]
In its first deal under Musk’s leadership, Twitter’s parent company X Corp acquires Laskie, a talent recruitment tool. Though the exact price of the acquisition is unclear, it was apparently “tens of millions” of dollars, with the deal including cash and equity elements. Laskie is a San-Francisco based startup founded in 2021 by current CEO […]
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