Nicolas Owens
speaker
290 appearances
3 recordings
3 series
first heard Jun 2026
last heard 22 Jun
Nicolas Owens’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 3.
Appearances
You know, so those are dilution type events that investors I think should keep in mind.
You don't have a say about it because the chairman has 85% of the votes.
It seems highly likely to me.
And I think there's some kind of sound, let's say, operational reasons why they want to share resources and be able to move people around and work on the chip fab and all these things without being accused of diverting resources or whatever.
So if you put it all under one roof, today what they have to write up as a related party transaction, which sounds kind of squirrely,
It would just be like, hey, we're doing this project and it's really cool.
But the question mark and me and the analyst who covers Tesla for Morningstar, Seth, we wrote up a piece kind of analyzing these scenarios.
The open question would just be like, at what type of deal terms for Tesla shareholders?
have a little more of a say because uh elon musk only controls about up to 20ish percent of the votes there so they'd have to kind of like make it right for tesla shareholders which um there's got to be some overlap there too right with like the yeah it's some of the same people sure yeah
Thanks so much for having me, Zade.
Appreciate it, Nicholas.
Have a good one.
A man who simply thought he was coming to Utah to pick up his wife and children.
The headline number that you just mentioned is the weighted average of three scenarios.
And the way we valued SpaceX was in three parts, essentially, the rocket piece, Starlink, and the AI piece, which is itself kind of a set of moving parts.
I would argue that the Rocket and Starlink is more straightforward.
It's a more mature part of the business.
And in most of our scenarios, they're worth, say, $611 billion in terms of enterprise value, some $40 a share, let's say.
The AI, we think there's a lot of riding on some unproven outcomes.
And I'm not really talking about
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