Just in from Dan Ives on Tesla’s Robotaxi launch today in Austin TX: Dan Ives of Wedbush has released a new note after riding in Tesla Robotaxis today in Austin: "This afternoon we attended Tesla's Robotaxi launch in Austin, TX and got the opportunity to take multiple rides in a Robotaxi. There was a Tesla Operator sitting in the front passenger seat of the Robotaxi, but they were not permitted to comment on anything nor did they influence the car in any way. Going into it, we expected to be impressed but walking away from it, all there is to say is that this is the future. We took two approximately 15 minute rides around Austin and the key takeaways are that it was a comfortable, safe, and personalized experience. The ride itself was completely smooth, and it was indistinguishable that the car was driverless as there was never a moment in the vehicle where we felt as if it did something irrational. The interior features two touchscreen panels: one in the front and one in the back row above the AC vent. The back row panel is able to integrate with the user's Tesla account and sync with their Robotaxi app and automatically loads the user's content onto a suite of apps including Apple Music, Netflix, Spotify, Hulu, Disney +, and more. We took a route through a park with dirt roads and traffic cones, yet the car was able to navigate perfectly and picked us up right at our exact location. To really put it into perspective, there was a moment where we drove up a narrow road going up a hill with cars parked on both sides with oncoming traffic and people opening their car doors into the road and the Robotaxi masterfully maneuvered with patience and safety among this chaos. We maintain our OUTPERFORM and $500 PT. The $1 trillion autonomous journey begins. Today's successful Robotaxi launch is really just the beginning of the Tesla AI story. The Robotaxi's we experienced today were foundational, and there is a path for the future where these Robotaxis may also have Grok integration, interior customization, and a much more user-centric focus as there's no longer a need to focus on the driver experience. Eventually, when there are enough Robotaxis out there, they may be able to communicate with each other and coordinate to offer an even more efficient travel experience. Overall, these Robotaxis exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving."

Good job Texas

Best Long-Term Investments Survey Despite growing media attention and some institutional adoption, Bitcoin remains a minority choice for long-term investment among Americans, primarily due to its volatility, regulatory uncertainty, and lack of perceived stability compared to more traditional assets - Real Estate has consistently grown in popularity, peaking around 2022 and remaining the top choice at 37% in 2025. - Gold started high in 2011 but declined, with some recent resurgence, standing at 23% in 2025. - Stocks/Mutual funds have fluctuated, generally holding steady, but are at 16% in 2025. - Savings accounts/CDs and Bonds have remained less popular, with savings at 13% and bonds at 5% in 2025. - Cryptocurrency (primarily Bitcoin) was introduced to the chart around 2021 and is at 4% in 2025, showing a slight increase from a low point but still trailing all other categories.

Interesting study from Coatu: TSLA wins and beats BTC, the #2. For the past year and a half, I have said that TSLA would beat BTC over the next 6 years, 2024 to 2030. This is just a confirmation that my thesis is on track. And their estimate for BTC and TSLA are very very low compared to what mine are. Tesla is the best AI company on the planet. Tesla has more compute, and growing exponentially than any other company, by far. The only sectors to be in are crypto and AI or in other words, Bitcoin and Tesla.

GM friends 😍

The kids are growing up so fast 🙏

U.S. National Debt is over $37 trillion - total amount the U.S. government owes. It continues to skyrocket! Deficits continue to explode: U.S. Federal Spending: Approximately $7.2 trillion U.S. Budget Deficit: Over $2 trillion Interest Payments: 25% of all U.S. government revenue Debt per real US Tax Payer - $740,000 (for a country of 340M people only 50M pay nominal taxes). The bottom 50% of taxpayers contribute just 2% of the total taxes - which means there is no point in even charging them! The top 0.1% of taxpayers pay 90% of all U.S. taxes. Source: Invest Answers

Enlightenment for me is having the ability to do what I need to do, when I need to do it.

Why I own Bitcoin. When you get to 130% debt to GDP, things go bad and you can't do anything about it. The debt is too high. You have to pay interest on it. You pay interest on it, then you have to borrow to pay the interest. And then your interest rates go up because you are effectively competing with the private market for credit. And so what happens is you have to pay more and more to service the debt. And the thing is out of control, it spirals out of control. That is a crisis. And when that happens, things fall apart, and they fall apart in some ways that are obvious, like asset prices go down because they're not worth as much when you realize the company's going out of business. Bond prices go way down. We've already had a hint to that because as soon as people realize that the currency is going to get weak, they realize that those bonds are going to pay off in the very currency that's going to go down. That's not a good situation. The whole thing starts to unravel. And generally there's some weak player that you've never heard about before. A company, a bank, a credit installed in Austria goes broke and the whole thing falls apart. It's one thing triggers another thing. And so yes, I think that there will be a crisis. When it'll be, I don't know. How bad it'll be, I don't know that either. But since it is a crisis that we are aware will happen, then we need to prepare for it. This was an excerpt from an interview with Bill Bonner on June 18,2025.

GM. Broadcast what you want to be reflected back to you.