News
Medtronic opens up about Elon Musk and SpaceX’s role in fight against COVID-19
Earlier this year, Elon Musk announced on Twitter that SpaceX would be working with medical device firm Medtronic to help the company produce its most advanced ventilators, which are pivotal in the battle against the pandemic. Details about the two companies’ collaboration have been quite slim since then, with Musk simply noting that SpaceX was producing valves for Medtronic.
In a recent post, Medtronic opted to share some key insights about its work with Elon Musk and his private space enterprise. The medical device maker’s story highlighted the value of Musk’s Silicon Valley-style approach to his companies, which emphasizes quick innovation that’s directed towards the development of real-world, practical solutions in the shortest time possible.
Medtronic’s Puritan Bennett 980 Ventilator Series is the company’s most advanced ventilator. It allows patients to breathe naturally through a series of innovative breath delivery technologies. It’s also fitted with a unique ventilator assistance feature that allows the machine to continue delivering ventilatory support even in the event of certain system failures. The flagship machine is built in Medtronic’s facility in Galway, Ireland, and it has become a staple in numerous hospitals.
In a typical year, Medtronic’s Galway plant could produce about 7,500 valves for its flagship ventilator. But with COVID-19 spreading across the globe, the need for ventilators increased rapidly and significantly. Medtronic promptly increased the production of its ventilators, and by mid-March, the Galway plant had raised its output by 40%. But it was not enough. Building ventilators is a complex process, after all, and the machines require advanced components that are difficult to manufacture.
One of these components is a proportional solenoid (PSOL) valve, a highly complex piece of machinery that controls the flow of air and oxygen inside the machine. The PSOL valve consists of over 50 parts, and each must be manufactured with surgical precision, with some components having tolerances as thin as a strand of hair. Medtronic’s most advanced ventilator used three of these PSOL valves per unit, and as noted by Medtronic Engineer Matt Phillips, the medical device firm was pretty much at a loss about how it could meet the increasing demand for its products.
And then Elon Musk called, and he came with a unique, interesting proposal.
Musk’s private space firm, SpaceX, which made its mark in the industry with its reusable rockets and its Crew Dragon spacecraft, offered to make PSOL valves for Medtronic. SpaceX proved to be the perfect partner for the medical device maker, as it already had a division that designs and manufactures valves for its rockets. The private space enterprise’s engineers were top-notch, and they had the technical expertise to stand up to the challenge. And with that, the two companies’ collaboration began.
In a display of its quick, Silicon Valley-style approach to problem-solving, SpaceX did not waste any time. COVID-19 was not letting up, and neither was Elon Musk’s private space enterprise. SpaceX promptly converted part of its rocket factory in Hawthorne, California to produce PSOL valves with the help of Medtronic employees. To maximize mobility and speed, the team even built a PSOL valve manufacturing line on carts. Ultimately, the SpaceX and Medtronic team achieved in months what might have otherwise taken years.
“They literally turned a rocket production area into a ventilator valve manufacturing facility almost overnight,” Phillips said.
As noted by the Medtronics engineer, SpaceX did not scrimp on its talent, with some of the engineers who worked on the Crew Dragon capsule working on the Medtronic project. Quality control was extremely high, with the valves produced at the SpaceX site undergoing rigorous testing before being shipped to Galway.
“We had their best technicians. We had their best engineers. Some of the people working on this project are the very people who just launched the first private commercial crew to the International Space Station. They brought the same kind of energy to this project that they brought to putting astronauts into space,” Phillips noted.
“When it comes down to it, these ventilators are going to save lives,” Phillips said. “So every component has to be perfect. There is no room for error, which is why we put these valves through such an intensive testing protocol,” the Medtronic engineer added.
Thanks in no small part to the quick initiative of the SpaceX team, the medical equipment company now has the capability to produce 9,000 PSOL valves for Medtronic’s flagship ventilator over the next 8 to 10 weeks. That’s about the same amount of valves that Medtronic’s Galway plant produced in 2019. The Galway facility, for its part, could now operate at five times the volume of its pre-pandemic operations.
“I have never seen anything like this in my life… This project certainly changed the way I look at production, partnership, and innovation. I know that, with the right focus and the right energy, we can take what we learned from this project and apply it to other challenges that come our way,” Phillips remarked.
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
Why SpaceX just made a $60 billion bet on AI coding ahead of historic IPO
