By Bob Gaydos

SpaceX, SpaceX, SpaceX, SpaceX, Musk, SpaceX, Tesla, SpaceX, SpaceX, trillion, Musk, SpaceX …

If you had even a fleeting awareness of media reporting on the stock market for the past week or so, you could not escape learning that Elon Musk was offering what turned out to be a record-breaking IPO, allowing all the world to buy stock in his out-of-this world company, SpaceX.

You would also have learned that Musk would retain control of 80 percent of the shares of the newly traded company and, oh yeah, that the rush to buy shares and the resulting valuation increase in his company had made the South African billionaire, the world’s first trillionaire.

The world’s richest man just got much richer.

Shares for SpaceX were initially offered at $135, closed at $161 on the first day and have risen and fallen in the week since the offering as all the financial “experts” try to figure out if this is a really good investment or not.

That’s not what this is about. This is about what the world’s richest man — the world’s first trillionaire — plans to do with his unprecedented wealth.

Take it to Mars. Or the Moon. Or, preferably, both.

Because, apparently, there’s nothing a trillion dollars could do to make life on Earth better, even simply more livable, for millions of earthlings in need of food, clean water, a decent place to live, good health care and a basic education.

No, the man born into wealth and possessing a gift for buying other people’s excellent ideas and turning them into the promise of progress, albeit apparently unfortunately delayed by other people’s short-sightedness, wants to create a colony on Mars and permanent habitats (domed condos?) on the Moon for those who won’t live long enough for the trip to Mars.

Swell.

Just what we need. A dream of a better life on another planet, presumably populated by residents of Musk’s choosing, which is to say, all white. Maybe even all conceived by him, the father of 15 right here on Earth.

He also wants to put energy stations in space to handle the load for the coming AI revolution, which holds the promise of creating a perfect society by eliminating millions of jobs on Earth for those who actually still have access to food, water, health care, etc. And, not to forget the military, Musk wants to boost the payloads of his Starship rocket to be able to transport military personnel and materials anywhere on earth in less than an hour. Just like Amazon. Make war more efficient for the highest bidder.

I don’t get it, but I can’t say I’m surprised. After all, it was Musk whom Donald Trump turned to when he wanted to eliminate tens of thousands of federal jobs, eliminate food and health programs in the United States and elsewhere on the planet and in general snoop around in everybody’s life.

Doge, they called it. Department of Government Efficiency. Musk failed at that. Somehow, his young geniuses couldn’t manage to follow the law while they set about destroying people’s lives. Trump fired him. But, heck, even driverless vehicles have problems sometimes, right? What’s the big deal? We’ll figure it out. He just needs a few billion more to work out the kinks.

It stinks. Yet billions are pouring into Musk’s new publicly traded company because no one apparently wants to miss out on the promise of profit, if not the actual thing. Spending billions to improve the lot and lives of people in Third World countries is apparently not an attractive investment. Tossing a few billion at Louisiana, Mississippi, Alabama, West Virginia, etc.? Forget about it. Even their own members of Congress wouldn’t buy into that.

The thing is, Musk could do both. He could take care of the many needs on Earth and still go to Mars with a pit stop on the Moon. Maybe there’s something in the genes of the super rich — at least some of them — that allows entitlement to smother gratitude. Giving back is not in the vocabulary. Heck, Amazon’s Jeff Bezos, number two richest person on Earth, felt the need to buy the Washington Post, one of the nation’s most respected newspapers, and turn it into a hollow shell of its reputation because he didn’t like what it said about his rich friends.

Musk, of course, is entitled to do as he wishes with his money, within the law. But his new publicly traded SpaceX will allow the richest man on the planet to do as he wishes with a lot of other people’s money as well. I’m not sure a lot of people have thought through the return on their investment.

By Bob Gaydos

     Now it’s NFTs?

Trump NFTs

 Having just publicly confessed my bewilderment at the willingness, even eagerness, of many people to invest in cryptocurrency — a form of digital “money“ that is complicated to own and even more complicated to spend — I now learn there are such things as NFTs.

    Non-Fungible Tokens. 

    Who knew?

    Well, Donald Trump, of course. If it involves money and it’s hard to figure out exactly what is going on, you can be sure Trump is around. And so we have Trump Digital Trading Cards, which has introduced me to the world of non-fungible tokens.

      “Art” for crypto lovers.

      Having made a rather subdued announcement that he’s running for president again, Trump followed up with a “major” announcement: He is issuing limited edition digital trading cards containing his image in various heroic poses. No one is quite sure how many different poses there are. Supposedly there won’t be more than 20 copies of any one pose and other poses will have far fewer copies. To make them more valuable. They are yours to collect, “just like baseball cards.” Only $99 each. But you can only buy one hundred at a time.

       If memory serves me right, I used to get bubblegum and five baseball trading cards for a quarter. But that’s another story.

     NFTs are theoretically unique. That is, you cannot replace one of them with another one of the same and equal value. If you could, that would make them fungible.

     Now, right away, we have the issue of confusion. I’m pretty sure that “fungible“ is not a word with which many people are familiar. Ask the next five people you meet and see if I’m right.

    Something that is fungible is replaceable by another tangible object of similar value. You can exchange a wrinkled dollar bill for another dollar bill and it’s a fair trade, for example.

     What supposedly makes NFTs unique is that, like cryptocurrency, each has its own digital identity. In this case, a stamp. So, even though anybody can buy one of these trading cards for $99 in actual cash or the equivalent in ether cryptocurrency, and the image is exactly the same on all of them, each is supposedly a unique item.

     People have apparently paid thousands of dollars for a digital image — a non-fungible token — of some “unique” tweet or meme or other Internet creation, which they can then apparently proudly say they own. Like a Picasso.

     It’s an investment, I’m told. Aha. Here’s where I would attempt to explain how NFT’s work and why someone would want one, but I have read more than half a dozen columns from technical websites “explaining” how NFTS work and I am more confused than ever, which goes to my original point.

     If it’s too complicated and confusing for the average person to understand and if even those who do understand how it works call it “risky” as an investment, why would anyone want to get involved?

     For some, like Trump, it’s simple — to try to make some quick cash off people by playing on their emotions. It’s his go-to strategy. The images of Trump on his trading cards are amateurish, even clownish, for a reason. MAGAs have been conditioned to distrust the talented, the educated and to revel in the coarse. Stick it to the elite, the socialist leftists. Hence, the “Let’s go Brandon” signs in my neighborhood. So clever.

    The more the Trump cards are ridiculed by people with even average artistic sensibilities, the more the MAGAs will scoop them up. At least that’s what Trump is betting on. He’s betting on a feeling. He’s also throwing in an opportunity to have dinner with him at Mar-a-Lago as an enticement if you buy 45 cards in one shot. That’s $4,455.

   What any of these “cards” will be worth years from now is anyone’s guess. You can’t frame them and put them on the wall, although anyone is free to print out a copy of one of these cards and display it. They may turn into ether like the currency used to buy them.

   Still, as of now, it appears that Trump may have played his cards right and is laughing all the way to the offshore bank. The website announced that all 44,000 minted cards sold out in the first day. 

     Whether that’s real news or not and whether more cards will be minted remains to be seen. There is also the question of whether this was all a money-laundering scam for a down-on-his-luck ex-president and phony billionaire about to be indicted for sedition.

      Bottom line: If there’s money involved, there is no place that is too low for Trump to go. A wink and a nod and give me your dollar. 

     The same goes for power, as he demonstrated in the White House. He is beyond embarrassment.

      The embarrassment, sadly, belongs to us as a nation. We invested in a non-fungible fraud. We got our money’s worth.

rjgaydos@gmail.com

Bob Gaydos is writer-in-residence at zestoforange.com.