News
Elon Musk gifts SpaceX Starship angel investor a piece of Starhopper history
According to photos posted by the Japanese investor, SpaceX CEO Elon Musk has gifted Yusaku Maezawa a significant piece of Starhopper history, a celebration of the rocket prototype’s successful flight tests and a gesture of thanks for Maezawa’s substantial support.
Back in September 2018, Musk revealed that Japanese billionaire Yusaku Maezawa had become the first true customer for SpaceX’s next-generation Starship launch vehicle. In fact, Maezawa announced DearMoon, a private spaceflight venture with the aim of sending a dozen or so artists on the first commercial crewed mission around the Moon – all for free.
In a bid to assist Starship development and simultaneously secure rights to the massive spacecraft’s first crewed lunar launch, Maezawa committed what is believed to be several hundred million dollars of his personal fortune to SpaceX. In turn, the Japanese billionaire plans to select roughly a dozen artists from around the world and offering them a free ticket aboard Starship’s first crewed circumlunar launch, traveling once around the Moon and returning to Earth after 10 or so days in space.
Perhaps just a few weeks after the DearMoon announcement and Starship event, SpaceX CEO Elon Musk decided to radically change the Starship program, entirely replacing the vehicle’s main structural material of choice – carbon fiber composites – with stainless steel. The primary goal was to dramatically lower the cost of development and vehicle production and speed things up, but Musk quickly realized that steel could unintuitively be better than carbon fiber in almost every way.
After Musk’s decision, SpaceX pivoted from carbon fiber to steel at a spectacular pace. Barely six months after the design change, a SpaceX team had built up its Boca Chica, Texas facilities from almost nothing, begun to build full-scale steel hardware, and nearly completed the first low-fidelity prototype, known as Starhopper. That vehicle began propellant loading and wet dress rehearsal testing in early-April 2019 and although technical difficulties with its next-generation Raptor engines caused several months of delays, it moved into its first flight test campaign three months later.
Starhopper’s first untethered flight was completed successfully on July 25th, reaching an apogee of ~18 meters (60 ft). A little over one month later, Starhopper lifted off for the second time on a significantly more ambitious ~150m (500 ft) flight test, completed successfully after about 60 seconds in flight. That second test would be Starhopper’s last and SpaceX quickly turned its focus to completing the first full-scale, full-fidelity Starship prototypes, known as Mk1 (TX) and Mk2 (FL).
Throughout this process, Yusaku Maezawa has followed along with SpaceX. Rather than a simple lump-sum agreement, the billionaire’s contract with SpaceX is structured much more specifically, essentially allowing the company to unlock additional funding after certain milestones – like Starhopper’s flight tests – are completed. The arrangement is more of a carrot on a stick than something dead-serious – Maezawa is probably not going to completely withhold funding if SpaceX slightly misses exact targets or suffers anomalies during a complex launch vehicle development program.
In order to complete its two flight tests, Starhopper needed some kind of attitude control system (ACS) to remain stable and SpaceX chose a decidedly SpaceX-y solution, simply bolting on flight-proven Falcon 9 thruster pods. Those pods use high-pressure nitrogen to change Falcon 9’s attitude, correctly point the rocket, and settle its propellant while the rocket is in a vacuum (or freefall). They can also provided limited control authority in atmosphere, which is what SpaceX used them for on Starhopper.
As a gesture of gratitude for Maezawa’s extremely helpful financial support, SpaceX gifted him an entire Starhopper thruster pod. SpaceX often does similar things for major flight milestones, creating commemorative gifts out of retired hardware (rocket tanks, engine bells, grid fins, parachute threads, etc.) that employees are able to purchase. An entire thruster pod is at least a few orders of magnitude above that, a sign of just how grateful SpaceX is to Maezawa.
Of note, in his tweet showing off the thruster pod, Maezawa suggested that “Starship development is going better than expected”, indicating that he may “need to invite a passenger soon” for his planned circumlunar voyage around the Moon. Prior to Starship’s radical shift from carbon fiber to steel, that mission was scheduled no earlier than 2023. In recent months, SpaceX executives have made it clear that they are now targeting Starship Moon landings by 2022, suggesting that the first circumlunar missions – a far easier task than landing – could be possible even sooner than that.
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Elon Musk
Tesla Earnings: financial expectations and what we should to hear about
In terms of discussions, Tesla earnings calls are usually a great time to get some clarification on the company’s outlook for its current and future projects.
Tesla (NASDAQ: TSLA) will report its earnings for the first quarter of 2026 this evening after the market closes, and analysts have already put out their expectations from a financial standpoint for the company’s first three months of the year.
Additionally, there will be plenty of things that will be discussed, including the recent expansion of the Robotaxi program, the Roadster unveiling, and Full Self-Driving (Supervised) approvals across the globe.
Financial Expectations
Wall Street consensus expectations put Tesla’s Earnings Per Share (EPS) at $0.36, while revenues are expected to come in around $22.35 billion.
This would compare to an EPS of $0.27 and $19.34 billion compared to Tesla’s Q1 2025. Last quarter, EPS came in at $0.50 on $29.4 billion of revenue.
Tesla beat analyst expectations last quarter, but the next trading day, the stock fell nearly 3.5 percent. We never quite can gauge how the market will respond to Tesla’s earnings; we’ve seen shares rise on a miss and fall on a beat.
It really goes on the news, and investor consensus, it seems.
What to Expect
In terms of discussions, Tesla earnings calls are usually a great time to get some clarification on the company’s outlook for its current and future projects. Right now, the big focus of investors is the Robotaxi program, the Roadster unveiling, and what the outlook for Full Self-Driving’s expansion throughout Europe and the rest of the world looks like.
Robotaxi
Tesla just recently expanded its unsupervised Robotaxi program to Dallas and Houston, joining Austin as the first cities in the U.S. to have access to the company’s ride-hailing suite.
Tesla expands Unsupervised Robotaxi service to two new cities
Some saw this move as a quick effort to turn attention away from a delivery miss and an anticipated miss on earnings. However, we’ve seen Tesla be more than deliberate with its expansion of the Robotaxi suite, so it’s hard to believe the company would make this move if it were not truly ready to do so.
The company is also working to expand its U.S. ride-hailing service outside of Texas and California, and recently filed paperwork to build a Robotaxi-exclusive Supercharger stall.
Expansion is planned for Florida, Nevada, and Arizona at some point this year, with more states to follow.
Roadster Unveiling
The Roadster unveiling was slated for April 1, and then pushed back (once again) to “probably late April,” according to Elon Musk.
It does not appear that the Roadster unveiling will happen within that time frame, at least not to our knowledge. Nobody has received media or press invites for a Roadster unveiling, and given the lofty expectations set for the vehicle by Musk and Co., it seems like something they’d want to show off to the public.
The Roadster has become a truly frustrating project for Tesla and its fans; evidently, there is something that is not up to the expectations Musk and others have. Meanwhile, fans are essentially waiting for something that is six years late.
At this point, also given the company’s focus on autonomy, it almost seems more worth it to just cancel it, remove any and all timelines and expectations, and surprise people with something crazy down the line, maybe in two or three years. There should be no talk of it.
Full Self-Driving Global Expansion
We expect Musk and Co. to shed some details on where it stands with other European government bodies, as it recently was able to roll out FSD (Supervised) to customers in the Netherlands.
Spain is also working with Tesla to assess FSD’s viability as a publicly available option for owners.
With that being said, there should be some additional information for investors as they listen to the call; no talk of it would be a pretty big letdown.
Optimus
There will likely be a date set for the Gen 3 Optimus unveiling, and we’re hopeful Tesla can keep that date set in stone and meet it. Not reaching timelines is a relatively minor issue, but a company can only do this for so long before its fans and investors start to lose trust and disregard any talk about dates.
It seems this is happening already.
Optimus has been pegged as Tesla’s big money maker for the future. The goals and expectations are high, but it is a privilege to have that sort of pressure when investors know the company’s capability.
News
Tesla just unlocked sales to 50,000+ government agencies
It marks a significant step in expanding Tesla’s presence in the public sector, where procurement processes have traditionally slowed electric vehicle adoption.
Tesla just unlocked sales to over 50,000 government agencies by entering a new agreement with Sourcewell, a purchasing cooperative.
Tesla entered a new master purchasing agreement with Sourcewell, the largest government purchasing cooperative in the U.S. This will enable streamlined sales of its EVs to more than 50,000 U.S. public entities. Tesla entered Designated Contract 0813525-TES, and the agreement covers Model 3, Model Y, and Cybertruck, and potentially other vehicles the company could release.
It marks a significant step in expanding Tesla’s presence in the public sector, where procurement processes have traditionally slowed electric vehicle adoption.
The deal allows eligible agencies, including cities, school districts, state governments, and higher-education institutions, to purchase Tesla vehicles directly through Sourcewell without conducting their own lengthy competitive bidding or request-for-proposal (RFP) processes.
Pricing is pre-negotiated and capped, providing transparency and predictability. Agencies simply register for a Sourcewell account online or by phone and place orders under the existing contract. This cooperative model aggregates demand across thousands of members, reducing administrative costs and time while ensuring compliance with public procurement rules.
For Tesla, the agreement removes major barriers to government fleet sales. Public-sector procurement cycles often stretch 12 to 18 months due to bidding requirements and committee reviews.
Tesla buyers in the U.S. military can get $1,000 off Cybertruck purchases
By securing the master contract, Tesla gains immediate, simplified access to a massive customer base that previously faced friction in adopting EVs. The company highlighted in its announcement that the partnership will help these 50,000-plus agencies “save thousands of $$$ in operating costs for their vehicle fleet over time” through lower maintenance, energy efficiency, and the elimination of tailpipe emissions.
The initial four-year term runs through November 13, 2029, with options for up to three one-year extensions, offering long-term stability for both parties.
Sourcewell’s role is central to execution. As a cooperative purchasing organization, it negotiates and manages vendor contracts on behalf of its members, then makes them available nationwide. Participating entities contact Tesla’s dedicated fleet team or Sourcewell representatives to complete purchases, bypassing redundant paperwork.
This structure accelerates fleet electrification while maintaining fiscal accountability—agencies receive pre-vetted pricing and terms without reinventing the wheel for each vehicle order.
The partnership positions Tesla to capture a larger share of the public fleet market, where total cost of ownership often favors electric vehicles once procurement hurdles are removed.
For government buyers, it translates to faster deployment of sustainable fleets, reduced long-term expenses, and alignment with environmental mandates. As more agencies transition, the contract could contribute to broader EV infrastructure growth and taxpayer savings across the country.
Elon Musk
How much of SpaceX will Elon Musk own after IPO will surprise you
SpaceX’s IPO filing confirms Musk will maintain his voting power to make key decisions for the company.
Elon Musk will retain dominant voting control of SpaceX after it goes public, according to the company’s IPO prospectus that was filed with the SEC. The filing reveals a dual-class equity structure giving Class B shareholders 10 votes each, concentrating power with Musk and a handful of other insiders, while Class A shares sold to public investors carry one vote.
Musk holds approximately 42% of SpaceX’s equity and controls roughly 79% of its votes through super-voting shares. He will simultaneously serve as CEO, CTO, and chairman of the nine-member board after the listing. Beyond that, the filing includes provisions that may limit shareholders’ influence over board elections and legal actions, forcing disputes into arbitration and restricting where they can be brought.
The case for Musk holding this level of control is grounded in SpaceX’s actual history. The company’s most important bets, from reusable rockets to a global satellite internet constellation, were decisions that ran against conventional aerospace thinking and would likely have faced resistance from a board accountable to investor gains. Fully reusable rockets were considered economically irrational by established industry players for years. Starlink, which now generates over $4 billion in annual operating profit, was widely dismissed as financially unviable when it was proposed. The argument for concentrated founder control seems straightforward, and the decisions that built SpaceX into what it is today required someone willing to ignore consensus and absorb years of losses.
SpaceX files confidentially for IPO that will rewrite the record books
For context, Musk’s position is significantly more dominant than Zuckerberg’s at Meta. The comparison with Tesla is also worth noting. When Tesla did its IPO in 2010, it did not issue dual-class shares. Musk has only recently pushed for enhanced voting protection, proposing at least 25% control at Tesla in 2024 after selling shares to fund his Twitter acquisition left him with around 13%.
SpaceX has clearly learned from that experience and structured the IPO differently by planning to allocate up to 30% of shares to retail investors, roughly three times the typical norm for a large offering. The roadshow is expected to begin the week of June 8, with a Nasdaq listing rumored to be a $1.75 trillion valuation and a $75 billion raise.
Tesla Earnings: financial expectations and what we should to hear about
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