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This week Michael Batnick spoke with Aaron Dillon, Managing Director at AG Dillon & Co. They break down everything you need to know — the valuation, the financials, the AI piece that's driving billions in losses even as the legacy rocket and Starlink businesses throw off real EBITDA, how the lockups and index inclusion are going to work, and whether the risk-reward actually holds at this price. (Listen)
Good Stuff This Week
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Good news, bad news. Hundreds, if not thousands, of SpaceX employees recognize the importance of having a financial advisor onboard as their shares in SpaceX become liquid. The bad news is they want more favorable terms for the engagement. It will interesting to see if this becomes a trend, especially as more mega-IPOs like Anthropic near the finish line.
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You could easily argue that the SpaceX employees have already won in life. With the right perspective you could say that of most of the people who engage with a financial advisor have also won at life. It’s easy to move the goal posts during your life, but many have already exceeded their life goals, they just need to slow down enough to acknowledge it.
The Rest of the Story
How the OBBBA turned QSBS into the hot new tax break (Bloomberg)
Altruist is launching an alternatives marketplace (ThinkAdvisor)
Flourish has launched Flourish Lending, a residential mortgage product (Wealth Management)
Brian Adams and Frazer Rice discuss what happens after a trust and estate plan are established (The Retirement Manifesto)
Why we underestimate the amount of change we will undergo over time (Meghaan Lurtz)
Your life matters, even if you are not famous (Darius Foroux)