Pretty big update here. Something that I'm specifically excited about SpaceX way spinning off Starling via IPO as soon as 2024 for a very, very long time I've told everyone I avoid IPOs cuz it's a lot of Randomness it's a lot of volatility I don't think there's much of a trading and or investing Edge and I added on one little ashx to that comment and that comment was I would be involved in SpaceX Slst Starlings I Just want to be in day one, put it in my long-term account and let it sit for a couple decades because in my mind, the company that provides Internet to the entire world probably going to be a pretty successful company. and based on the current landscape, I would argue that Starlink is the clear, obvious front runner to pull off that task. Starlink satellites beam down high-speed internet from space.

Starlink could generate some $10 billion in sales next year still a private company and I'm just excited to see where Eline could really take this thing space. SpaceX is discussing an initial public offering for its fast growing Starling satellite business as soon as late 2024 to get ready. SpaceX has been moving the satellite units assets to a wholly owned subsidiary that would ultimately be spun off in the IPO No final decision has been made, as it's possible that the SpaceX retains the unit. The listing could also be delayed till 2025, so at this moment in time, as we're filming this in late 2023, there's no definitive answer.

But as a person who's very, very interested in this potential, there's there's hope. It's almost like The Dumb And Dumber means so it's like so you're saying I have a chance. That's how I feel right now. So I just want to let you know because I've been saying this for years in terms of IPOs This is one that I'm going to be particularly excited about just because.

In my mind, it's so evident that the value this will provide to everyone in the world. Remember, there's a lot of people on this world right now that still have no access to Internet And then all of a sudden I think if it is offered to everyone, if that's a feasible thing, think about the transformation that that could really bring about. And obviously, here's what Bloomberg had to say on the matter. Reporting from Ed Llo here at Bloomberg on SpaceX discussing an IPO for its Starlink satellite business as soon as next year in order to capitalize on robust demand the police to say that Edge jumped in front of a camera for us now Ed What's the latest? Yeah, so sources say that the end of 2024 is possible.

Uh, noting that it's also an election period, right? And then if not the end of 2024, 2025. The idea of Starlink being spun off is something that Elon Musk and GW Shotwell who's the President of SpaceX have discussed in the past changed is just that the business has such momentum we reported a couple of weeks ago that next year Starlink revenues could be about 10 billion meaning majority of revenues overall from SpaceX Um, alongside the launch business John It's important to note that that I'm hearing from from one source that what SpaceX is doing is moving Starlink and Starlinks assets into a subsidiary in incorporating it as its own private entity, a wholly owned subsidiary of SpaceX Kind of a stepping stone towards that. But immediately following publication of our reporting and our story Elon Musk tweeted or posted on X the platform formerly known as Twitter false. Uh, he was responding to a user who' taken a screen grab of the story.

So for transparency, there is saying that this reporting is false, but that's what we understand from our Bloomberg sources. All right. Well, that throws a little bit of a wrench into the situation. So I guess my question here is twofold.

Number one: Do you think it's false or not? Do you think this is him, maybe trying to make some sort of business move to get a higher valuation? Do you think it is maybe just legitimately false and he doesn't want to deal with the public markets? That's obviously a possibility. Oh man. and I guess my second tier question is if it goes live whether IPO or later down the line. Is this a company that you're as excited about as I Am? Because in my mind as I alluded to before, this is one of the most obvious thing.

The person who provides the internet to the world. Everyone in the world. To me, that's going to be a solid business. Uh, but obviously maybe I'm missing something.

So I would obviously love to get your thoughts.