Blue Origin is great and if we had nothing to compare it with, we'd be incredibly impressed with what they built, having raised just $30B.
But let's just use BO to put SpaceX's capital efficiency into perspective;
— SPCX invented the orbital class reusable booster
— flew + landed it like 650 times
— built Starlink; 10M+ customers
— built Dragon; launched like 60 humans to the ISS
— got ~95% of the way to making a fully reusable Starship operational
— acquired xAI, positioning them to do Starmind
All of this on just $10B worth of private equity
Like what the fuck
Xi Jinping, el hombre que casi nunca se ríe en público, acaba de partirse de risa en la Casa Blanca.
No fue por un tratado. No fue por pandas. Fue porque Trump lo paró frente al Presidential Walk of Fame, señaló el hueco entre sus dos retratos y soltó, como quien presenta un número de stand-up:
“Trump… Trump… y este es el autopen.”
Pausa.
“Ese es Biden.”
Xi se dobla. Detrás, la delegación china pierde la compostura. En un pasillo donde se supone que todo es protocolo, el presidente de China se ríe a carcajadas de un retrato que no es un retrato: es una máquina firmando el nombre de Joe Biden.
Ese cuadro lleva colgado ahí desde hace un año. Trump no lo movió. Lo esperó. Y hoy se lo enseñó al líder más poderoso de Asia como si fuera la mejor broma de la visita.
An NVIDIA GPU is a high-yield asset.
An H100, bought on the secondary market in Sep 2025 for ~$19k:
Resale today: ~$20.5k
Net rent earned: ~$13.5k
Total: ~$34,000, +76% in 1 year.
A B300, bought in Jul 2026 for ~$54k:
Resale today: ~$51k
Net rent earned: ~$14k
Total: ~$65,500, +21% in under 3 months
What allows these assets continue to earn? Resale value has held as rental rates have increased and demand has grown across all hardware generations.
Resale rates have held within −5% to +7%, while Ornn's H100 index is $2.91/hr, +49% from a year ago, and our new B300 index tracks at $11.32/hr, up 66% from June. H100 marketplace utilization is 87% today. B300 is at 90%.
Ornn's forward curves predicts that in 2 years, by Sep 2028:
H100 ~$63,500 (+227%)
B300 ~$186,000 (+244%)
NVIDIA Hopper and Blackwell hardware both hold incredible residual value.