Taps the sign
Masayoshi Son’s SoftBank reserved enough gas turbines to generate the power of six Hoover Dams. It cost the company billions of dollars in losses. on.wsj.com/4AkINFX
Nov 11, 2026 · 2:26 AM UTC
Tap tap - Death of the Golden Age
Who is providing the $500 Billion to start the “New Golden Age of AI” and what country are they loyal to?
Who’s getting rich off the deal?
Masayoshi Son is head of @SmartBank and has the Vision Fund 2 with wealthy investors from all around the globe.
Saudi Arabia’s 🇸🇦 Public Investment Fund (PIF) and Abu Dhabi’s Mubadala Investment Co. are the 2 largest investors.
Elon Musk has a track record of calling hard problems early.
In a February 2026 interview, he warned: “Those who have lived in software land don’t realize they’re about to have a hard lesson in hardware.”
By late August, SpaceX confirmed it was bringing the casting of gas-turbine blades and vanes in-house — the single biggest bottleneck for new natural-gas power plants needed to feed AI data centers. Musk said the move could bring turbines online up to 18 months faster.
Today he put it even more bluntly: SpaceX has “a super cracked team that is outperforming the rest of the world by an order of magnitude in mass to orbit — and even we find it very difficult.”
Hardware doesn’t care about demos, funding rounds, or slide decks. The teams that actually build the hard stuff keep winning.
What a legend.
@KatieMiller Elon got caught lying.
In short: SoftBank over-ordered relative to what it could or would use, then chose to walk away from the surplus (forfeiting non-refundable deposits) rather than continue paying for unused capacity. That is a costly procurement adjustment and write-down, not a failure to meet contractual obligations on active orders. SoftBank has said its core AI infrastructure plans, including the Ohio project, are not being downsized.
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Stephen Miller becomes White House Chief of Staff tomorrow, and from where I’m sitting, it looks like the man about to run the White House was bought and paid for before he walked in the door. I followed the money around him and his wife Katie, and it leads to Elon Musk, a foreign government’s lobbyists, her father’s mailbox and investors nobody is allowed to see.
Full article is up on my Substack now (link in bio and it's free). Highlights below:
🚩 Red Flag 1: A dark money group funded by Elon Musk sent $43 million to a group that Miller’s own charity controls. That is Musk money flowing into Miller’s political machine, and none of it has to be disclosed to you.
🚩 Red Flag 2: Musk’s super PAC paid Katie Miller’s firm $884,367, and some of that money came while she was working beside him at DOGE. She was on his payroll and inside the government at the same time.
🚩 Red Flag 3: Katie bought more than $1 million of stock in Musk’s AI company one business day before the Pentagon announced it would use that AI. The trade was never reported, and the rules say it should have been.
🚩 Red Flag 4: Abu Dhabi’s state AI fund owns a piece of that same company. Eight days before Miller got the job, a firm in the same consulting group Katie came from signed a $100,000-a-month contract with the UAE. So, a foreign government now has money on both sides of this household.
🚩 Red Flag 5: Miller was paid $202,000 through a family company listed in his father-in-law’s name. Its clients were the Trump campaign and the Trump-Vance transition, and the transition still won’t say who its donors are. So we don’t know whose money paid him (owns him).
🚩 Red Flag 6: The dark money group Miller’s charity controls paid $156,000 to Borglum LLC, a company with no Florida registration and no named owner. Its address was box 361, the same mailbox as that family company. Based on the records, I think that donor money landed with the Millers.
🚩 Red Flag 7: Katie Miller’s podcast gets about 15,000 views an episode, yet her podcast company has 3,333,333 preferred shares for investors who never have to be named. Nobody puts money into a 15,000-view podcast for the ratings. So who bought in, and what did they get?
🚩 Red Flag 8: About $1.4 million in their kids’ accounts disappears from his ethics form with no sale reported, and a sale of stock in a Pentagon-backed company was reported at less than half of what it was worth. That form is the only way the public can see what the Chief of Staff owns, and it doesn’t match the money.
Any one of these might have an innocent explanation. But eight of them around the most powerful staffer in the White House shows a pattern, and the public deserves to know who is paying him.
The full article is up now on my Substack (link in bio) with every receipt, including the filings, the mailbox records and the UAE contract.
Enjoy!












































