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The latest work has been focused on what happens after a user already has exposure. Getting into a position is only one part of the experience. Managing it needs to feel just as clear. We’re refining how users can understand what they currently hold, what actions are available, and what happens when they make a change. None of this is about adding complexity for the sake of features. It’s the opposite. We want someone to open Zero Stocks, understand their position quickly, make the change they want, and move on without wondering whether they missed something. The privacy infrastructure can be complex underneath. The product itself shouldn’t feel that way.

Eight democracies. One message to Beijing. Australia, France, Germany, Japan, New Zealand, Poland, South Korea and the UK issued a joint statement on September 22 opposing any unilateral change to the Taiwan Strait status quo. It came out of a meeting on the sidelines of the UN General Assembly, where officials called today's security environment more volatile than a year ago. Their language was direct: "We encourage dialogue and oppose any unilateral attempts to change the status quo across the Taiwan Strait." The same day, the US, Japan and South Korea issued a separate statement making the same point, and also backing Taiwan's participation in international organizations. Taiwan's foreign ministry welcomed the statement and said it would keep building self-defense and deepen ties with democratic partners.

🚨 THAT’S A WRAP: President Trump and President Xi just said goodbye. The visit is over. Big things were talked. Big things were agreed. Now we wait to hear it from the President himself. Stay tuned with us. @TRUMP_TV_News If it weren’t for accounts like this, you wouldn’t see any of it. Legacy media is too busy opposing Trump to show what’s actually happening — and this was big. 🇺🇸🇨🇳

President Xi Jinping stressed that the Chinese side’s position on safeguarding national reunification and territorial integrity is clear-cut. It is hoped that the U.S. side will adhere to the correct position of opposing “Taiwan independence,” and handle the Taiwan question with caution, so as to lay a solid foundation for China-U.S. strategic cooperation and the development of bilateral relations.

Grok Bot Summary of SpaceX CFO Bret Johnsen at Goldman Sachs Communacopia today. Vertical integration Vertical integration is the company’s core operating model, not a side strategy. - Rockets: own metal → engines → avionics → software - Starlink: own launch, satellites, and the end customer - AI: build facilities and power themselves, run their own models, sell to consumer and enterprise, and soon orbital compute Starship and launch Starship is the foundation for every other business. - Flight 13: big learning flight. Delivered demo V3 payloads, relit a Raptor, and got a soft, precise second-stage splashdown. Recovery team towed the stage back so engineers could study the heat shield. - Those learnings feed straight into Flight 14 and beyond. - Flight 14 (later this month): first revenue-generating Starship flight, flying production V3 Starlink satellites. - Later this year: aim to recover both first and second stages. Orbital compute Most of the AI industry agrees orbital compute is the future. Almost everyone else thinks it’s many years away. SpaceX disagrees because they control the stack. - Target: first orbital compute satellites next year - Scale: big compute in space into 2028 - Hardware approach: same V3 bus as Starlink, swap the payload, add larger solar arrays Why orbital can beat terrestrial on cost The crossover is about Starship reusability. - Falcon 9: first-stage reuse since Dec 2015; 500+ booster reflights - Starship: first stage already recovered/reflown; second-stage recovery progressing - Goal: reflight of both stages as soon as next year, which drops deployment cost sharply Terrestrial compute is getting more expensive (power, cooling, buildings, real estate). Orbital rides the opposite curve: cheaper rockets + better/cheaper satellites + scale. Johnsen said cost parity could come as soon as next year. Terrestrial compute and the $100B ARR goal - End of this year: on track for ~$100B ARR (annualizing the December number) - New update: another hosting deal closed earlier this month → about $1.1B/month starting Dec 1 → roughly +$13B ARR - Capacity: end this year well over 2 GW; next year 5–10 GW deployed - Confidence comes from line of sight to power, facilities, and permitting, plus being NVIDIA-exclusive for allocation - They stand compute up fast for themselves and for industry partners, which strengthens the NVIDIA relationship How they monetize compute Most hosting deals are short: ~90 days with a 90-day out (~6-month commits), including the newest deal. Why keep them short? - High conviction in their own products (Grok, Grok Bot, Cursor team after closing that deal) - Don’t want to lock forever capacity they may need internally - Internal bar: don’t let internal monetization fall below external hosting Earnings framing for next year: roughly $30–$50 per watt monetization range; they said they’re at the high end. Hosting customers appear to monetize even higher, which is why demand stays strong. Payback is under one year on new compute capex, so residual GPU value and financing options look attractive. “Not all CapEx is the same” — GPUs with <1-year payback are different from a launch tower built for decades. AI products and M&A Historically SpaceX was almost all organic growth. This year they did M&A because the AI product cycle rewards speed to frontier. - Closed Cursor deal weeks ago; product cycles already accelerating (called out Grok Bot) - Grok 4.6 improved on 4.5; 4.7 coming soon - Pitch: best infrastructure + competitive model + lower token cost = best position for customers - Market mood shift: months ago people bought the infra story but doubted the products; ~90 days later that skepticism is fading Starlink broadband Started as “better than nothing” (~2020–21). Now enterprise-grade with strong uptime/SLAs. - Resiliency pitch: boards will ask why Starlink wasn’t in the network if you go down - Mobility: aircraft backlog is large and production is ramping; cruise ships, yachts, trains too - Awareness, especially outside the US, is still a growth unlock - Longer-term: physical AI (robots, cars, aircraft) will need always-on connectivity terrestrial networks can’t fully cover Mobile / direct-to-cell Not a distraction. Same V3 bus, different payload. - Fly direct-to-device satellites through next year - Target service turn-on: first half of 2028 - V1 today (e.g. T-Mobile / T-SAT): text / light voice, great for emergencies and dead zones - Next gen: full 5G-quality from space - US: mid-band spectrum from EchoStar, FCC path for space + terrestrial - Go-to-market: flexible — own terrestrial build, or partner with carriers - International: same regulator-by-regulator playbook as broadband (Starlink now in 170+ countries) Near-term priorities: 1. Starship (enables everything else) 2. Terrestrial compute (funds growth and teaches them how to do orbital) Bottom line in one line Own the full stack, make Starship reusable at scale, use terrestrial AI compute as a cash engine now, and use the same satellite bus + Starship cadence to win broadband, mobile, and orbital AI.

The Privacy Frontier: ZK meets TEE Most privacy panels explain why privacy matters, this one is two builders comparing the opposite bets they made. With @MayaDotan_ (StarkWare) and @AlexAuroraDev (NEAR), moderated by @jessiexiao_eth. Tomorrow, 1:00 PM GMT. Hosted on @Starknet.

RFK Jr. says Fauci paid UNC scientist Ralph Baric to develop a technique called "no-see-em," which makes pathogens MORE dangerous and COVERS UP the evidence of human manipulation. Baric went on to teach this technique to the "Bat Lady" at the Wuhan Lab. Fauci knew this. Then spent years telling the public COVID came from a "natural origin." RFK JR: "He was lying about the origins from day one. Why was he lying? Because he funded those studies at the Wuhan lab, and he funded the studies at the University of North Carolina that developed the techniques for weaponizing COVID-19." "And then [he] gave those to Ralph Baric, his funded scientist at the University of North Carolina, gave those to Shi Zhengli, the scientist, the 'bat lady' scientist in the Wuhan lab. And he taught her a technique that Anthony Fauci had paid him to develop called seamless ligation, which is also called 'no-see-em.'" "It's a way of manipulating the virus to make it deadly to human beings and then covering up the evidence of human manipulation." "And why would anybody spend NIH money developing that kind of technology?" "It's bioweapons technology. It has nothing to do with public health. It's the opposite. It's the inverse of anything you would want to do with public health." "Well, he took that, and he gave it to the Chinese military lab at Wuhan." Fauci’s former senior adviser David Morens has now plead guilty for conspiring to defraud America by destroying federal records during COVID. He previously said: “Tony doesn’t want his fingerprints on origin stories.”

Fox News Detroit is calling Jake Lang an “agitator” for opposing Islam “We begin with a message of unity in Dearborn as Christian leaders speak up and speak out ahead of a planned visit from anti-Islam agitator, Jake Lang” “City officials saying, "Hate has no place here in Dearborn." And they're speaking mainly towards Jake Lang” Christian leader “The Bible says, and as a pastor, I will respond biblically, the Bible says, "Love your neighbor like yourself." It is that simple” Fox News protests the people opposing Islam as the agitators but is completely silent here about Jake Lang getting stones thrown at him for saying “Jesus is King” The real agitators are the ones throwing stones and chanting “Death to America” You’ll never convince American we are the problem, we know the problem