Bloomberg Tech Anchor @technology on @bloombergtv. News.
San Francisco, CA
Joined June 2011
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Ed Ludlow retweeted
Meta Class C Shares and Prop 40 (I just posted this to the Bloomberg blog)
The Class C shares issuance and the Prop 40 commentary are directly linked.
Meta says in its filings that Zuckerberg was considering leaving California because the proposed wealth tax could leave him with a multibillion-dollar bill, potentially forcing him to sell voting shares to pay it.
The Class C deal is partly designed to prevent that outcome. Zuckerberg gets non-voting shares he can sell for liquidity without reducing his voting control. In return, he has committed to remain in California — or wherever Meta is headquartered — for eight years while he remains in a full-time leadership role.
There’s a second purpose too: Class C gives Meta a non-voting currency to raise capital for its massive AI buildout without diluting Zuckerberg’s control.
Meta Class C Shares and Prop 40 (I just posted this to the Bloomberg blog)
The Class C shares issuance and the Prop 40 commentary are directly linked.
Meta says in its filings that Zuckerberg was considering leaving California because the proposed wealth tax could leave him with a multibillion-dollar bill, potentially forcing him to sell voting shares to pay it.
The Class C deal is partly designed to prevent that outcome. Zuckerberg gets non-voting shares he can sell for liquidity without reducing his voting control. In return, he has committed to remain in California — or wherever Meta is headquartered — for eight years while he remains in a full-time leadership role.
There’s a second purpose too: Class C gives Meta a non-voting currency to raise capital for its massive AI buildout without diluting Zuckerberg’s control.
Ed Ludlow retweeted
I'm having a 99%+ success rate at challenging unprotected lefts, but I do think, in fairness, it is the final boss of self-driving!
The other final boss seems to be construction zones, where there are no standards, just dudes putting cones around in an ad hoc fashion.
These are the hardest conditions for human drivers as well.
Ed Ludlow retweeted
BREAKING: Electronic Arts is cutting 400 jobs and shutting down BioWare, the legendary development studio behind Dragon Age and Mass Effect. bloomberg.com/news/articles/…
Ed Ludlow retweeted
The robot in your home needs a designer – let us introduce you.
Dar Sleeper @radbackwards is Chief Design Officer at @1x_tech, where he drove major innovation in hardware and creative over the past two years. He spearheaded the design of NEO, 1X's flagship consumer home robot, and led a comprehensive overhaul of the company's branding. Prior to 1X, Dar held product and marketing roles at Tesla and had stints at Yeezy and StockX.
Dar will sit down with Ed Ludlow @EdLudlow, host of Bloomberg Tech on @BloombergTV and a correspondent in Bloomberg's newsroom, for a fireside chat onstage at the Artist and the Machine Summit this December in LA.
Ed Ludlow retweeted
Elon Musk openly endorsed the prospect of combining SpaceX with Tesla in what would be the biggest-ever corporate merger.
Ed Ludlow has more bloom.bg/4jySCv2
"we've actually tried to offload some of our inference compute to other cloud providers so that we can use more compute for training and we get the cheese shop sketch. They'll say, like, well, we'll ask them about, what about some GB300s? Nope, don't have any of those. What about some GB200s? Nope, don't have any of those. What about some TPUs? Nope. What about some trainers? Nope. What about some -- okay, how about some H100s? And like, well, we might have some overseas somewhere. And then they'll check and come back and say, nope, we don't have that either. So it's, like, ridiculous. Yes, so I don't think we're going to have a demand issue here. And like it's not impossible, I'm not saying this will happen, it's not impossible that we will have a six-month payback period for compute next year."
Musk set out the higher-bar for a SpaceX-Tesla merger. An assumption it is a certainty is overstating the reality.
And crucially on the Tesla side a merger would require 50% vote of all shares - not just those who vote - but all shareholders.
Also what premium would SpaceX pay?
Musk has 20% voting power at Tesla. He has more than 80% voting power at SpaceX.
What premium to account for assymetric governance?
Elon Musk said SpaceX and Tesla have formed special committees to explore a potential merger, a preliminary step toward what would rank as the largest corporate tie-up of all time.
@EdLudlow shares the details bloom.bg/4yZyzum
Eléonore is on the show today
When we first met Eléonore Crespo and @romain_pigment in 2023, their vision for the future of enterprise planning stood out. We led @gopigment's Series C in 2023, the Series D in 2024, and have continued to deepen our partnership ever since, now tripling down as the team has brought that vision to more businesses.
Since founding Pigment in 2019, Eléonore and Romain have brought finance, sales, and operations together on one platform, guided by their extraordinary attention to detail and genuine care for customers.
Today, Pigment has surpassed $100M in ARR, doubling year over year for the third consecutive year. With 85% of new metrics now created by an agent, the team is working to push the boundaries of AI-powered planning.
As Pigment announces its Series E, we’re grateful to continue alongside a team we’ve come to know so well and admire so deeply. Congratulations to Eléonore, Romain, and the entire Pigment team!
More: pigment.com/blog/pigment-ann…
Disclaimer: bit.ly/3H4dQj0
There's a new version of this post
AI Agents/assistants: Am now using Instinct, Dot, Grok Bot and Muse...
The problem: they are all basically updating my shared Google calendar with my wife. I still cant work out how to get value because no iOS connect on Mail. Instinct most useful for transactions/payments
SpaceX's actual businesses made about $2.8B in operating profit.
Then things outside the day-to-day businesses — mainly interest income, other income and a tax benefit — added roughly another $1.6B.
That gets you to the headline $4.4B net profit.
Underlying businesses → ~$4B operating profit before
the Cursor stock-comp charge
Cursor stock comp → -$1.2B
Reported operating profit → $2.8B
Then other financial/tax items → $4.4B net profit
Separately, Cursor added $608M of revenue during the quarter.
In the end, Deutsche Bank's Edison Yu asked the question. And it was answered!
"When will SpaceX merge with Tesla?"
The question sitting in number 2 slot of the SpaceX Q&A portal by upvotes and filed under 'other'
questiontime.ir.spacex.com/e…
