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SpaceX to buy Cursor for $60B

reuters.com

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Re: SpaceX to buy Cursor for $60B

#321

Post by jpadkins »

bilsbie wrote: post #305
geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

Everything is ultimately valued by memes.

money is just an idea that spreads (a meme).

Re: SpaceX to buy Cursor for $60B

#322

Post by shimman »

giancarlostoro wrote: post #73

I wonder where they will take this, if they'll use the Cursor team to help make Grok Build (which is not just a tool like Claude Code, but an actual Grok model too) more refined for programming? Would make sense to me, and in turn also provide Cursor with more compute they can use.

They'll likely just take all the various enterprise contracts to help inflate SpaceX earnings, that's the only reason why you'd buy this if you were Musk. Need to help keep the lie going as long as you're still alive.

Re: SpaceX to buy Cursor for $60B

#323

Post by observationist »

otterley wrote: post #311
geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

On what grounds do you believe the value of BTC is meme-driven? Another (and arguably more plausible) explanation is that the price reflects the vast amount of criminally-obtained wealth stored in it. It’s a far better store than burying cash in mountain caches.

All money is meme driven. Money is fundamentally a meme itself. Seeing lots of people who seem to be making some sort of implicit distinction between bitcoin and USD and so on, but they are no different. They serve the function they serve because of what people believe about them, like any other social, cultural, or economic abstraction. Bitcoin has the feature of a verifiable ledger, but its value and function are in our heads, just like the USD or GBP.

Re: SpaceX to buy Cursor for $60B

#324

Post by throw0101c »

geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

> Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes?

The "value" of something can be a bit of a meta-game:

> A Keynesian beauty contest is a metaphorical beauty contest in which judges are rewarded for selecting the most popular choices among all judges, rather than those they may personally find the most attractive. This idea is often applied in financial markets, whereby investors could profit more by buying whichever stocks they think other investors will buy, rather than the stocks that have fundamentally the best value, because when other people buy a stock, they bid up the price, allowing an earlier investor to cash out with a profit, regardless of whether the price increases are supported by its fundamentals and theoretical arguments.

* https://en.wikipedia.org/wiki/Keynesian_beauty_contest

Plenty of folks may think these companies are garbage but are 'playing along' because it's not necessarily what they themselves think that is important, but what others think.

This idea was put forward by Keynes in his General Thoery publish in 1936, so human nature has hardly changed since then.

Re: SpaceX to buy Cursor for $60B

#325

Post by throwaway894345 »

teekert wrote: post #320
geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

Someone invents something that is digital, but can't be copied. Quite brilliant as it is the first digital asset that can store value without centralization and trust, based on market demand. Someone on HN: "BTC is valueable solely through the power of memes".

Bitcoin doesn't "store value", it has the value that society assigns it, which is what the parent means when s/he says "BTC is valuable solely through the power of memes". It's not a fiat currency, nor does it have any intrinsic utilitarian value.

Re: SpaceX to buy Cursor for $60B

#326

Post by throwaway894345 »

geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

At least some of TSLA and SPCX value is derived from Musk's ability to purchase politicians to ensure the tax dollars keep flowing to them. Essentially, these ticker symbols are backed by the US government's ability to force us to give Musk's companies our money.

Re: SpaceX to buy Cursor for $60B

#327

Post by Danox »

petilon wrote: post #228
geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

Michael Burry, a hedge fund investor featured in the book “The Big Short” for his predictions on the 2008 financial crisis, said in a Substack discussion last month that any increase in SpaceX’s stock after its I.P.O. would “be on hype and technicals.” Here, “technicals” means technical analysis signals rather than the company’s business fundamentals. In other words, Burry is saying the stock could rise because of ch…

Tesla definitely is floating down slowly worldwide with hype when it finally crashes just don’t be left holding the bag. 2026 will be another year downward.

Re: SpaceX to buy Cursor for $60B

#328

Post by grey-area »

geremiiah wrote: post #167

Here's a shower thought. BTC essential is worth $70k solely through the power of memes. Can TSLA and SPCX remain overvalued (relative to the revenue of their respective underlying assets) forever through the power of memes? Intuitively, it seems to me that there must necessarily be some kind of upper limit, but I'm not convincing myself. These speculative assets are only attractive as long as the price keeps inflatin…

It seems like that during a bubble (things can never go down!) but the market eventually does correct, even if it can take years or even decades to do so, and usually overcorrects when it does.

Re: SpaceX to buy Cursor for $60B

#330

Post by josh-sematic »

guidedlight wrote: post #77

Does anyone here think Cursor is overvalued? It's just packaging up what already exists, it has no moat or IP.

In terms of whether they’re overvalued: probably. But any valuation should also take into account the value they have to x.ai (also under SpaceX) as a source of training data for coding models.
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