Four years ago today, Elon Musk bought Twitter. Liberals lost their minds because they knew they were losing control of their ability to shape the narrative. Today, X is the #1 source of news in the world and it’s the legacy "news" media on life support.

Tesla has just released its Q3 earnings results. Highlights: • EPS (non-GAAP): $0.48 (vs. $0.45 est) • Revenue: $28.05B (vs. $28.3B est) • Adjusted EBITDA: $3.90B • Active FSD Subscriptions: 1.74M, up 67% YoY from 1.04M • Net income (GAAP): $787M • Free cash flow: $1.53B • Capex: $4.73B • Cash & marketable securities: $45.45B, up 9% YoY

Every word is James Talarico’s. 27 clips. 4 minutes. 2019–2026. “God is non-binary.” “…many more than two biological sexes. In fact, there are six.” “If you deny your child’s gender identity… it’s abusive for sure.” “There’s only one person who can determine a child’s gender identity, and that’s the child.” “I want to acknowledge that our trans community needs abortion care too.” “…the bill that would have denied gender-affirming health care to trans children… All these ideologies stem from this Christofascism movement.” “The way I fought for trans kids in the legislature is how I will fight for the U.S. Senate, and my position hasn’t changed.” “Prophetic voices like Jesus have helped me reckon with my own whiteness.” “It’s always rich to me that defund the police is considered off limits…” “Prison is violence.” “Tear down this secret police force.” Assault weapons ban? “Absolutely.” Send this to 10 Texas voters and tell them to vote today.

Q3 Shareholder Update → ir.tesla.com Highlights – FSD Supervised attach rate grew to over 75% of new vehicle deliveries in NA – Unveiled the next-gen Roadster – Record deliveries in Canada, Australia, Japan & Taiwan – Tesla Semi now in volume production. Top variant can go up to 500 miles at a full 82,000 lbs while achieving efficiency of 1.7 kWh/mile – about a third of the energy a comparable diesel truck burns for the same load – Ended the quarter with the largest backlog for our passenger vehicles in 4 years! FSD Supervised – 4 new approvals since Q2 (Croatia, Slovenia, Czech Republic, Slovakia) – FSD is now live in nine EU countries & used by over 100,000 customers logging more than 160 million kilometers since initial approval Robotaxi – Deployed Cybercab into our Austin fleet – Hit nearly 2 million cumulative unsupervised miles, 8x growth in the quarter – Austin service now runs 6 am to midnight, with wait times continuing to come down as we add cars & improve the orchestration algorithms – Added Grok to Cybercab with Grok Bot & Connectors, letting you interface with your inbox, calendar, files, chats and tasks, all by voice. Transport, office & living room in one Robotics – Started production of @Tesla_Optimus on our high-volume lines in Fremont. These are the first production-quality bots we've built, proving that the current manufacturing process for Optimus is suitable for a commercial product SI Compute – On track for 400 MW of training compute by year end, feeding both vehicle & humanoid autonomy – Austin Fab construction continues, equipment commissioning planned for 2027 Battery – Battery supply is still the limiter on how fast we ramp vehicles globally, so we're expanding on every front: pack capacity in Berlin, cathode and lithium refining in Texas, LFP cells in Nevada – Shipped the first Megapacks built entirely with our own LFP cells – Increasing 4680 output to support ramp of Cybercab, Semi & Model Y Energy – Megafactory Texas is up & running, with Megapack 3 production started – Highest-ever order rate & backlog for energy storage Grid constraints & power availability are making Megapack the answer for SI infrastructure demand: it excels at supplying large data center loads, smooths out demand spikes, helps new projects meet grid connection rules & makes the grid itself more stable All with less local fossil fuel generation Supporting Infrastructure – Added 2,100+ net new Supercharger stalls, up 14% year over year

California hasn't built its bullet train because the state has required 130,000 pages of environmental reports, making absurd demands like: • counting bumblebees one by one • rebuilding woodrat stick huts • hiring specialized dogs to sniff lizard scat

Former $GOOGL employee on why data center capacity and electricity are the real bottlenecks, not GPU production itself, and how unreliable some of the neoclouds are ($AMZN, $GOOGL, $MSFT, $NVDA): 1. According to the expert, open-source models are closing the gap with frontier models faster than expected, with customers increasingly replacing Anthropic and OpenAI models in multi-agent architectures with open-source alternatives starting from Q2 of this year. The shift started with simple tasks like tool calling and MCP, but has moved up the stack to low-level orchestration. 2. The expert identifies capacity as the biggest constraint at the moment, with certain companies' traffic growing 5x while GPU availability, particularly in the U.S. where latency requirements are tightest, simply cannot keep up. Sourcing capacity overseas in Asia or Australia is technically possible but adds latency that most customers will not accept. 3. Hyperscalers offer reliability but are expensive, require multi-year commitments of three or more years, and have limited availability of the latest hardware, with customers already chasing B300s. AI-native companies tend to gravitate toward neoclouds due to hyperscaler pricing and contract rigidity, but neoclouds come with their own reliability issues, with GPUs dropping off unexpectedly and requiring engineering resources to manage fleet stability around the clock. 4. The third tier consists of smaller independent operators who have invested in GPU racks, seeing the opportunity to lease out capacity and recoup costs within a year or two, with the remainder being pure profit. The expert describes these as essentially unusable in practice, with operators who do nothing more than find land, install racks, connect electricity, and set up cooling, with no real cloud management, maintenance, or operational expertise behind them. 5. The expert expects overall GPU availability to increase meaningfully over the next year or two, with $NVDA continuing to ramp production. The real bottleneck is not GPUs themselves but data center capacity and electricity in the U.S. On the supply side, the expert also sees players $SPCX beginning to lease out spare capacity to the market, with more likely to follow. 6. The expert notes that U.S.-based neoclouds typically require 20-30% prepayment upfront, with the remainder paid monthly or quarterly over the contract term, and rebates negotiated at the end for any reliability incidents like traffic loss. APAC-based providers operate differently, with no prepayment required at all. found on @AlphaSenseInc

BREAKING: Southwest Airlines has announced it will expand Starlink to its entire fleet by fall 2027. It expects to become the first major U.S. airline to complete a fleetwide Starlink rollout.

Incentives drive outcomes. If you pay NGOs based on the number of homeless people they manage, they will **never** decrease the number of homeless people. The data is very clear on this.

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