SCAM OR 10X? SpaceX Data Centers in Space

Wow, it's official. Not only might

SpaceX go public, but it seems to be

taking Echoar and Rocket Lab on a rocket

ship ride with it. We got to talk about

not just SpaceX, which is famous for

bringing us these reusable boosters.

This one landing just minutes ago, but

also its impact on Tesla. So SpaceX, its

impact on Tesla, we're going to talk

about that. and Optimus Robots and the

robotics market, Echoar, Rocket Lab,

financials, fundamentals, valuations,

and a whole lot more. So, buckle up.

Let's get into what the heck is going on

here. So, first things first, we last

heard rumors that SpaceX might go

public, which I got really excited about

because my venture capital company

invested in SpaceX back at about a $350

billion valuation. And at the time I

thought, man, Elon, you got your work

cut out for you, but you know what? We

want to be on the ride. And holy smokes,

back then we were told cash flow

positive, 13 billies in annual recurring

revenue by the beginning of 2025. Well,

here we are, end of 2025. Now, we're

expecting potentially as much as 24

billion of annual recurring revenue. And

take a look at this. SpaceX planning to

pursue 2026 IPO at what kind of

valuation? $1.5

trillion.

Holy smokes. More than a 4x from when my

venture capital company invested in

this. And frankly, the game has changed

since then. This is remarkable. Not only

is Bloomberg reporting that this IPO

could potentially be the largest IPO

ever in the history of IPOs, back uh in

2019, Saudi Aramco, they raised uh they

sold about 1.5% of their company and

they raised $29 billion selling such a

small slice of their company. SpaceX

might raise between 30 to4 billion

dollar at$ 1.5 trillion dollar at the

middle to end of 2026. Now what I think

is kind of exciting about this is it

seems like they keep kind of moving up

when they want to do it. First we heard,

oh yeah, you know, we might do it as

late as the, you know, late 2026, but

that apparently has been moved up to

potentially the middle of 2026,

dependent on market conditions. You can

see that here. SpaceX's management and

advisers are pursuing a listing as soon

as mid to late 2026. Now, obviously,

market conditions is just a fancy way of

saying, "Hey, look, if we think that

there's some kind of year-over-year

inflation scare, and the Fed goes

hawkish, and we get nervous about a jobs

recession, then obviously we'll delay

until 2027. There's a lot of due

diligence to do, or maybe even after

that." This is a very normal

consideration for companies thinking

about going public. I know because I

personally have been through the process

with a very very small company, our

little baby house hack. Uh, and we

decided against it in part because of

market conditions. Now, we'll see. We

got some really cool things cooking now,

but let's focus on SpaceX for now. So,

this timing thing really normal, but it

doesn't surprise me that what they're

trying to do now is jump on space data

centers. And if you're going to do a

data center play, while at a time people

are worried about private credit, Oracle

credit default swap skyrocketing. JP

Morgan's worried about increasing costs

because of the cost of lending and

inflation leading their stock to fall

4%. Oracle's down like 40% since people

started getting nervous about the

private credit blowups that we're

starting to see. You know, you might

kind of think, all right, maybe we're

starting to run the clock a little bit

on the whole data center play. So, if

we're going to appeal with space data

centers, let's hop to it before data

centers start becoming ubiquitous. Not

to reference the stock Ubiquiti, which

is a really great company, but I mean,

look at Oracle. We're down from $345 now

to $221 billion or uh $221 per share.

And part of that is because they do hold

over $80 billion in debt. So, you can't

really blame that the company has gone

down about 35% when you're getting

nervous about debt.

And it certainly doesn't help that even

after Nvidia picks up potentially 5% of

its revenue by selling H200's even more

powerful than the H20 chips to ti to

China their stock barely moves. In fact,

if you look at yesterday and today, you

basically ended the day at the same spot

as when that China deal was announced.

So, I get why Elon Musk in part might be

thinking, you know what, now might be

the time to IPO while we still can. And

the AI data center boom is really,

really exciting. But the space data

center boom is a totally different play.

And this one, I have to say, I'm really

excited about. So, not only are we going

to talk about data centers in space and

how this works, but this is going to tie

into Tesla, and then it'll tie into

Echoar. And of course, we'll talk about

uh Rocket Lab. You got to talk about

Rocket Lab as well. But first,

understand SpaceX's valuation here.

Okay, they were $137 billion at January

of 23. Then they were July 23, 150

billion. January 2024,

180, then 210 by the summer of 24, 350

by Jan 25, that was around they started,

they were doing in uh late 2024. That's

actually when I launched my uh VC. And

what's really incredible about that is

they had about $13 billion of annual

recurring revenue at the end of 2024,

which is the same as OpenAI says they

have now, except SpaceX was running at a

profit and cash flow positive. So, think

about that. Profitable business,

profitable since January of 2023.

Actually, profitable business since

January of 2023.

$660 million of free cash flow and $13

billion of annual recurring revenue.

OpenAI, on the other hand, $13 billion

of annual recurring revenue. Same, but

massive losses and massive negative free

cash flow, right? They're promising the

world we're going to do $1.5 trillion of

spend. And people are like, right, where

are you getting the money from? And uh

frankly there is nobody who would love

to stick it to Sam Alvin more than Elon

Musk which is why I think Elon is like

bro

space data centers let's IPO under space

data centers and then we can finally

cream homeboy homeboy homeboy Sam Alman

cuz guess who's also talked about doing

space data centers. Yeah, you guessed

it. Here he is. Like I do guess that a

lot of the world gets covered in data

centers over time, but I don't know

because maybe we put them in space.

>> Like maybe we build a big Dyson sphere

on the solar system and say, "Hey,

actually makes no sense to put these on

Earth."

>> But like I can say with conviction the

world needs a lot more processing power.

But if that looks like tiling data

centers on Earth, which I think is what

it looks like in the short term, in the

long term also, or we do go build them

in space, I don't know. It sounds cool

to try to build them in space.

>> But Sam Alman's not the only person

who's thought of this. Jeff Bezos has

talked about it. Elon Musk has talked

about it. Bill Gates talked about it

back in 2024. Here he is. Uh, you know,

solar panels in space. Maybe, you know,

some people have even talked about,

okay, put the whole data center up

there. Uh, it's just bits. Uh, actually

moving bits from space to ground is

easier than moving energy uh from space

to ground. So, you know, particularly

because launch costs are down, you can

at least dream of of those things. And

so none of that is really a huge

surprise. It's just a surprise that

SpaceX is also thinking about doing

space data centers at the same time as

they've got potentially a run rate to

get to 23 million subscribers to

Starlink by 2035. They currently have

roughly 60% of all satellites in orbit.

Now those are circa 2024 numbers, so

they might be a little dated here. and

they the only private contractor that

sent astronauts to the International

Space Station. Kind of incredible. At

least that was as of late 2024. Now, the

cool thing about SpaceX is now we're

thinking potentially that we could do a

directtoell service in partnership with

Apple and T-Mobile. That was just

announced in November of 2025, so about

a month ago. But more on that in just a

moment. Instead, let's understand this

data center in space thing for a moment

because this seems ah I got to do it.

I'm a dad. Out of this world. Okay. All

right. So, people are talking about

doing data centers in space because you

frankly you don't have to deal with city

permits. You don't have to deal with

energy on Earth. You actually don't even

potentially have to deal with batteries.

Yeah, think about that. You potentially

just have solar panels that operate

24/7.

Now you might say, Calvin, how is it

possible that it could operate 247?

You know, the Earth is going to block

the satellites or whatever. True, a lot

of satellites are in the dark about 50%

of the time they're operating. But have

you ever wondered why Google doesn't

have any dark spots? when you're looking

on the satellite, you're like, "Huh,

it's always daytime when I look on

Google Maps for the satellite view."

That's because these satellites and

where you would probably put data

centers operate in what's called the

Terminator zone. Little weird. No,

Arnold Schwarzenegger isn't up there.

The easiest way to look at it is just by

looking at this graphic from uh

Spacecrafts, I believe is their channel

name. And basically the solar powered

satellites will just fly right here at

the edge. So as the earth is spinning

they kind of just float around the edge

of the earth circling right where that

line is. So basically right where the

sun kind of is between dawn and dusk

that's where the satellites operate

which means the satellites solar panels

always have sunshine. So you don't even

need batteries, which is insane. Now

there are some problems that come with

data centers in space. And when I say

some problems, there are quite frankly a

lot of problems. One of the benefits is

that hey, if you could get unlimited

energy, great. And we think that space

is colder because when we go up in a

plane, it gets colder. We all know that.

The problem is space is really funny.

space can go from negative 120 degrees

Fahrenheit to positive 120 degrees

Fahrenheit. So, you're going to have a

whole lot of expansion and contraction.

Our 5090 GPUs to play Rust or Age of

Empires or whatever you're playing

probably ain't going to cut it. You're

going to need something a little custom

or you're going to need some special

housings that are more capable of this

sort of expansion contraction. Uh, and

ironically, we think that space will be

better for cooling, but it's actually

worse because there's no air flow in

space. And so, what you actually have is

when heat is generated by a device, it

just hangs out. It's almost like having

a coffee thermos. Things just stay hot.

And so, this is where we usually liquid

cool. But the problem is water freezes.

So, you have to use things like liquid

ammonia, which stays liquid at extremes,

but it's extremely toxic. So, when we

had a leak at the International Space

Station and astronauts got it on them,

they had to bathe, sunbathe, the ammonia

off and get it evaporated in space

before going into their airlock and back

into the ISS because the toxic vapors

would have killed the astronauts on the

ISS. This was back in 2013. Yeah. So,

like there are problems using these

ammonia cooling systems. Now, they

exist. Basically, have you ever seen in

those old homes the like old Here, I'll

just type this in. Old home radiator.

Uh, yeah. Like the baseboard radiators

that run water through to heat your home

or whatever. You know, these old nasty

things right here. Wow. You could buy

one here. Cast iron radiator. Vintage.

1,500 bucks. I don't know why that just

sounds like an extreme ripoff, but okay.

I'm not installing radiators anytime

soon. I'm a I may be a real estate guy.

Okay, I'm and and I may be looking to

find out how I can acquire real estate

in space, but I've resigned to the idea

that it just ain't going to happen.

Okay, I'm just going to focus on buying

my little wedge deals. We're going to

focus on the AI that we're doing because

we're releasing our AI this month, our

real estate AI. We think it's like the

first and greatest AI. Uh we're really

excited about it. You could learn more

at house hack.com. Not a solicitation

even though you can invest in the

company. is not a solicitation to invest

in the company. Read the offering

circular houseack.com. It's got all the

info and demo and stuff, but anyway,

basically these space stations have

massive radiator panels on them. You

might think that these are all solar

panels when you look at these, but these

are actually radiators right here and

they run the liquid uh ammonia and then

these are the solar panels. So, you kind

of have both parts on the space station.

And servicing this is a big deal. Uh,

this is kind of what the cooling system

looks like. So, in 2008, the New York

Times reported on a robot called Dexter

that was designed to basically be a

humanoidish robot that would essentially

be able to be remotely operated and fix

cooling issues. So, humans didn't have

to deal with the gas, the ammonia,

right? Or the ammonia liquid, which can

evaporate and turn into gas and then

it's deadly if you inhale it. And so

what's kind of crazy about this is that

this robot not only is massive, it's got

like this 11 foot arm, but it costs 200

freaking million dollars, which is

insane. And this is really where, in my

opinion, Optimus comes into play because

how great would it be to just have a

tethered Optimus robot literally cabled

in to these satellites and you have an

Optimus, even if it's tea operated,

right? Even if somebody's got the VR

glasses on, like what we saw with the

water bottles, is it AI? Is it not? Who

knows? Who cares? The point is, even if

it is teleoperated, you put an Optimus

robot as basically a space janitor, they

could go fix the radiators on data

centers in space. And so this is where I

said, "Hey, we're also going to be

talking about Tesla here. Here's the

Tesla talk." Kind of crazy, kind of

exciting if you think about it. It's

like all kind of linking together. So

this Canadian robot Dexter, come on,

man. Like 3,400 lb and $200 million,

just getting that thing to space is

going to cost like 50 million bucks.

It's insane. So you don't want that.

Instead, these humanoid robots, I mean,

we look at what Morgan Stanley just said

about robots. Freaking insane. Morgan

Stanley just this morning was talking

about how uh we could see robots in 10

years, here it is, hit uh 25

trillion dollar by 2050 of global

revenues, robot revenues, $25 trillion.

Just for perspective, the United States

total economy, all goods and services

right now is $25 trillion.

And so I'm like, what? That's literally

doubling the United States. That's

crazy. 3,400B.

Uh, well, Dexter is a 3,400 lb robot. Do

you want that or would you rather Right

here the humanoid robotics future? It's

kind of crazy. Okay. Absolutely wild.

Uh, oh, look. Um, there it is. We put

the little coupon code right here if you

want to get our reinvest AI or the uh

courses over at meetke.com. Santa

reinvests. That's what the coupon is.

That's why we were talking about tommo

this morning. Remember, not FOMO, not

SOMO. We're on to Tommo with the Federal

Reserve. It's freaking nuts. But anyway,

I'm coming to the conclusion that China

is going to dominate manufacturing, but

I'm okay with that because we're going

to use it. And space data centers might

be where we actually use these robots. I

don't know if they'll be Optimuses, but

I do think we'll have space janitors

basically that are robots. Now, this

whole thing is called ISM. It's inspace

servicing, assembly, and manufacturing.

I guess there's like a whole acronym for

it. Uh, but something to think about is

what about data and how does this link

with rocket lab and how does this link

with Echoar

uh and and you know all of that. Okay,

so let's explain that because this is uh

this is important. So what we have is

low earth satellites like Starlink are

great for data transmissions to our

little satellite dishes and actually a

pretty rapid speed 20 to 40

milliseconds. Honestly, it's like

playing Rust. Totally fine. It feels

like it's real time. And you could do

that through radio frequencies. However,

if you're going to do data centers,

you're going to have to do it through

lasers. Now, there's a company that's a

super tiny startup. Uh, and you know,

check them out if you want, but they're

called Star Cloud. They're a small

little startup. I think they're a Y

Combinator startup. Anyway, they

actually deployed uh the first H100, the

strongest data center chip ever to make

it to space. They actually deployed it.

Uh, and so what they're like pitching is

that, hey, we want to be the first to

bring data centers to space. And they

have this little infographic which is

somewhat useful. If you look right here,

you can see that satellites can

optically be linked to each other. This

is a fancy way of saying with lasers,

you know, in on Earth, we use fiber

optic cables, which are these like

little glass flexible tubes essentially,

and light kind of refracts through them.

However, if you do it in space, it's

actually about 30% faster because you

don't have the friction of the

refraction in the glass fiber optic

cable. So it's kind of cool. So anyway,

you can do these space laser

communications between satellites really

rapidly. Uh and these data links can

then also be linked to stations on the

earth. Now users like you and I or

direct to cell communications are

usually done just through radio

frequencies like you know 5G or

whatever, right? That's fine because

we're not sending massive like pabytes

of data. But data centers, they're going

to want direct optical links to these

satellites. Problem is, you usually

can't do that through the clouds. So,

you got to be in places like Arizona or

Australia and have multiple different

places to do it. But, it can be done. It

turns out it's a lot easier to get data

to and from space than it is to get

energy to and from space. So, space data

centers could work. Now, another big

issue that you're going to have that we

don't have so much of here is what we

call shielding or radiation issues. Uh,

and so if you look at the uh the data

center play, the startup here, they've

got this little Y combinator video, and

this is kind of an example of a shielded

data center box that they want to throw

up into space. Uh, and it's cool, but

you can see there's a lot that goes into

actually making sure that we don't get

what's called bit flip because the last

thing you want is bitflip on AI and all

of a sudden your GPT is telling you

literally the wrong answers because of

space data center bit flips. So, you

need error correction, you need

radiation shielding, you need Optimus

robots who aren't going to die of

radiations like humans. It's a lot.

Okay, there's there's just a lot to

this. It's not as easy as let's just put

the data center in space. But the point

is SpaceX and Rocket Lab are kind of

like the delivery systems to get up into

space, right? So, it doesn't really

matter even who's doing the data

centers, whether Nvidia shipping up

their chips into space. I mean, gosh,

talk about a literal like moonshot or

this is all just like overhyped and a

big bubble. Who knows? But that's crazy.

Obviously, all the data center

valuations could collapse and we're not

going to put data centers in space for

50 years if we have a data center bust,

right? Like if the bubble pops, which I

think could happen if Sam Alman goes

bankrupt. If Sam Alman fails, his $1.4

trillion of commitments disappear, that

means Nvidia's guidance goes down. That

means AMD's guidance goes down, right?

Because the money that's going from

OpenAI to Nvidia is going from Nvidia

back into Open AI and then to AMD,

right?

>> [laughter]

>> It's and it's going to or it's it's just

a mess. Okay, so like could the whole

thing pop and blow up? Yes. Is it a

massive bubble? Probably. Do data

centers in space seem cool? Yes. Do

space janitors seem like the dopest

ever? Hell yeah, dude. Like I'm so

jazzed because like our VC is in on this

and I'm just like let's freaking go,

dude. We, my venture capital company

invested in two companies, SpaceX and

Aptronic. And SpaceX is like a 4X and

Aptronic, I mean, if they actually are

raising at a $5 billion valuation, is

probably like a 6x. And I'm like, okay,

all right. When do we go ring the bell?

This is great. Now, all we have to do is

make sure I can IPO Houseack for a big

dollar and we're good. Then we can

retire. I'm just kidding. I don't think

I could ever retire, [laughter]

but I'm too excited about the stuff. So,

like, okay, we got to talk Echoar and

Rocket Lab. Yes, all of this crap could

be a giant bubble, but there is probably

a future to this. I just want you to

know that as excited as I am right now,

don't confuse that excitement for, oh,

this is going to be easy. It ain't,

okay? Like, who what what happens when

we start crowding the Terminator zone,

okay? And we can't all be in that same

ring, right? Do we just go further and

further out? But if we go further and

further out, like are people blocking

the optical lasers of others? I don't

know. Should be enough room for now,

right? And then like who gets the

terminator zone? China or the United

States

or both of us for now until we start

blocking each other? Can we like can I

pass you my laser and then can you beam

that to Earth or are you going to

intercept my laser and like, you know,

bit flip me? Don't bit flip my Bitcoin.

Anyway, all right. So, that cooling

radiation a lot. All right. But now we

got to talk Echoar and Rocket Lab. So,

Echoar is like literally moonshotting on

this. Uh, that's the ticker symbol SATS.

Now, this is basically the merger of

Dish Network. Dish Network was public in

2024. People lost like all their money

investing in Dish Network. It's a crappy

business. But over the last year, this

company's up like 300%. Uh, and in the

past 5 years, it's up like 336%. It

basically just moonshotted in about

August. And part of that is because they

sold like $17 billion of their Airwave

licenses to SpaceX.

Now, why that's really interesting is

when they sold these licenses to SpaceX

to deal with like FCC bull crap or

whatever, they actually ended up taking

an $8 billion stake in SpaceX.

So, think about that for a moment. They

sold $17 billion of licenses. They took

$8.5 billion of cash, about $8.5 billion

of SpaceX stock. Okay, that was before

they talked about this $800 million

funding round that SpaceX is doing now

for employees as a secondary

and it's certainly before the $ 1.5

trillion

IPO potential for SpaceX in 2026. So

people are like, "Oh my gosh, this $27

billion company, uh, even if it had $

8.5 billion worth of SpaceX stock today,

divided by 27, 31 cents out of every

dollar that goes into Echoar is

basically SpaceX stock at whatever

valuation they got back on September

8th, 2025.

Now, if that valuation is up 50%."

Imagine this. Okay, let's say the

valuation of $8.5 billion is up 50%.

Times 1.5. That means the SpaceX stock

they own is 12.7 billion. Let's call it

$13 billion. Okay, $13 billion is almost

half of this company, which means about

50% of every dollar that goes into

Echoar is essentially SpaceX. So Echoar

to some degree, it's a crap business,

but it's almost a proxy for owning

SpaceX. I mean, look at this. They took

a massive impairment on their licenses

over here in the three quarters uh

ending or 3 months ending September

30th. Even if you add the impairment

back in, these people would still be

losing money. Now, yes, they have some

cash flow. Their balance sheet isn't

that horrible. Their positive cash flow,

they paid off some debt. Uh, if I go to

their current assets, I've got current

liabilities of $9.9 billion and I've got

total current assets of six. So, I'm

definitely upside down. It could be

worse, but they they needed the money.

Okay, they needed the $8.5 billion from

SpaceX. If I add that back in here,

great. Now I can pay my current

liabilities. Okay, good. Now it makes

sense. But then how much of Echoar did

you just gut? Because remember, Echoar

is a a company that has 5.68

million Dish TV subscribers. They got

like two million Sling subscribers, but

they also do Boost Mobile.

Heard about them? They have some

partnerships with AT&T and T-Mobile, but

they've got about 7 million subscribers

at Boost Mobile. They used to own like

$30 billion in wireless spectrum

licenses, but they just sold a bunch to

uh Starlink or SpaceX. And they also had

some satellites called the Jupiter 3 or

Echoar XXIV satellites in space through

their Hughes division, but they had to

file Chapter 11 bankruptcy.

So like there's risk in the space and

Echoar isn't clean by any means. Now

they're cleaner now because they got

cash and SpaceX stock, right? So it got

cleaned up a whole lot. makes sense why

people are like, "Bro, Echoar is like a

discount way to get your hands on

Starlink. I mean, frankly, if if they

got $ 8.5 billion of SpaceX stock and

it's going to IPO for $1.5 trillion,

that's probably a double, okay, times

two, that's 17 out of the $27 billion

valuation they have. That's like 63% of

every dollar that you invest in SATs is

going into SpaceX essentially, right,

through their ownership of it. Now they

could squander it. I mean the whole

company could go bankrupt. The other

parts of their business could go

bankrupt. So obviously there's risk,

right? Then you got Rocket Lab. Okay.

Rocket Lab at least it's selling for

52.6 times less than SpaceX. Yeah. Take

SpaceX's $ 1.5 trillion potential IPO

valuation divided by 52.6

and you get Rocket Lab. Now, Rocket

Lab's founder really likes big logos,

>> and that was one, uh, everything that

goes to space should have a Rocket Lab

logo on it. Um, don't care if we built

it, don't care if we launched it, but

everything that goes to space should

have a Rocket Lab logo on it. Preferably

the biggest logo that you can fit on the

component.

>> I don't know why any of that mattered,

but let's just take a quick look at

their financials. So, Rocket Lab not

only manufactures

cell solar cells, which is kind of cool.

So, it's like solar solar cells. So,

solar solar panels, I guess. Solar

panels made for space. Anyway, that's

kind of cool. The CEO calls themselves

the largest solar panel manufacturer for

space, which I, you know, I haven't

independently verified, but I guess I'll

believe it. Uh, and um, honestly,

they're not in a terrible financial

position. Uh, they do have negative cash

flow. They're they are a rocket startup.

Uh, so they do burn $67 million per

quarter, but they just issued nearly a

billion, well like $865 billion plus

some other stuff in shares to raise

cash. And they borrowed about $26

million, which is a drop in the bucket

compared to their share sale. But if you

look at their balance sheet, they've got

almost a billion dollars in marketables

and cash, which, you know, if we're

burning 67

uh every uh what do we got here? 67 per

quarter and I got a,000 divided by 67 I

got divided by 4 I got like 3.7 years of

cash burn. You know now they might

amplify their cash burn but anyway they

do have 50% revenue growth which is

great and they're showing a 36.7% gross

margin but a lot of that is because of

contract milestones. You'll see some of

that with Apple and MP material as well.

But it's kind of interesting because

they should be profitable by the end of

the decade. And if they are, they would

be selling with a multiple of about 106.

So it's going to kind of depend on like

what their EPS growth rate is. But this

will make them very market sensitive.

Like this is why SpaceX says they don't

want to go public in bad market

conditions because a company like Rocket

Lab, for example, is going to be very

dependent on raising money. So you could

throw more money into space data centers

or rockets or whatever. You're literally

lighting the money on fire with the goal

of making more money. Okay, this makes

sense.

SpaceX, they called themselves

profitable. Uh let's say they had $18

billion of annual recurring revenue in

26. That's low. The um Bloomberg thinks

this is actually going to be somewhere

between 22 to 24 bill is the uh

Bloomberg estimate. So my numbers are

probably a little bit low. Uh but if I

just divide 1,500 then divided by call

it 23 at the midpoint there we're

trading for about 65 times sales. If

they bring 20% uh to the bottom line

that would be about uh let's see here in

this case if I if I take the whole top

line of sales uh let's get rid of this

here uh screwed this up a little bit.

There we go. So if I take 20% of their

annual recurring revenue and bring it to

the bottom line, 23 time.2 that puts me

at about $4.6 billion net roughly, which

is great. But if you divide 1,500 by

4.6, you're going to be at about a 326

PE ratio, which for 2026 is going to be

about three times as expensive as Rocket

Labs 2029 valuation. In other words,

both of these companies are going to

tank like a rocket of recession. Like

these are literal money burners. And if

we don't actually do data centers in

space anytime soon and it takes 50

years, you're going to lose a lot of

money on them.

But I could not be more excited about

the future when I hear this stuff

because it all it makes sense. It all

makes total sense to me. There are so

many problems

and I will just say while this is very

exciting technology and I couldn't be

more grateful that we invested into

SpaceX, I just hope we can make it to

SpaceX's IPO without a recession. In the

meantime, I will continue buying fixer

uppers and doing our renovation AI

because we want to use my knowledge in

real estate and help other people do

artificial intelligence. renovations for

their homes. In other words, you take a

picture of your home and we tell you

what is actually going to give you net

worth in renovating your home. Or if you

buy a fixer upper or you're looking for

a fixer upper, we can guide you over

time as we release features in 2026. You

know, what you get now versus what you

get in 26. That's all these things are

still being built. Uh our core features

coming out this month are done. Uh but

there's a lot more coming in 2026. But

one of the things that I'm really

excited about is basically screening

properties that are on the market and

saying to folks, hey, if you buy this

property and spend 50 grand fixing it

up, there's a chance you could boost

your net worth by $100,000. Now all of a

sudden, people can actually rate

properties based on their ROI that they

could potentially get rather than just

guessing. They have an AI tool that

myself and our team trained to bring you

AI in real estate, which is kind of

cool. And if you want to invest in that,

the cool thing is we have no bank debt.

We are real estatebacked, which is

great. You could see a lot of our real

estate under our real estate tab, but

you can also click the invest and

reinvest button. Uh reinvest house hack,

same company. It's just a different

name. I'm changing it to reinvest. I

think it's pretty awesome. See, real

estate invest. Huh? See what I did

there? Reinvest the proceeds. Keep

reinvesting profits into real estate.

Anyway, read the offering circular.

There's risk with every investment.

Right now, our current round is based on

our 2024 valuation, which means if you

invest, uh, you are investing based off

of the valuation. I think it's this

button. Yeah, you're investing based off

the valuation we had in August of 2024.

You get a 5% yield paid on a monthly

basis. So, 5% annual, paid monthly. Uh,

and [music] it's a convertible, which

means you get downside protection and

all of the upside uh, if our valuation

goes up from this level. Uh, read the

offering circular. Earliest conversion

is Jan 27. And folks, couldn't be more

excited. I don't really think we're

ready for the future, but I'm excited

about it. So, with that said, thank you

very much for watching and we'll see you

in the next video. Goodbye. Godspeed.

And good luck. Why not advertise these

things that you told us here? I feel

like nobody else knows about this.

>> We'll we'll try a little advertising and

see how it goes.

>> Congratulations, man. You have done so

much. People love you. People look up to

you.

>> Kevin Praat there, financial [music]

analyst and YouTuber. Meet Kevin. Always

great to get your take.