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carter

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1 call·1 name·100% bull·last heard 3 months ago·TBPN
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$SPCXSpaceXposition

M13's SpaceX investment at $15B now 150x; IPO to trigger massive SPV wealth distribution

M13 invested in SpaceX at $15B valuation and exercised option for 150x return. IPO will create unprecedented retail/SPV wealth (80% in SPVs), driving luxury real estate demand and giving SpaceX high-valued currency for rollup acquisitions of NeoCloud, energy, and chip assets.

TBPN2026-06episode →

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recurring themes

  • Space Economy1
  • Venture Capital1
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$SPCX
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SpaceX
HIGHcarter·TBPN·3 months ago·Snap Specs, Taste, Midjourney Hardware, Lunchtime for AI Leaders· position
M13's SpaceX investment at $15B now 150x; IPO to trigger massive SPV wealth distribution
M13 invested in SpaceX at $15B valuation and exercised option for 150x return. IPO will create unprecedented retail/SPV wealth (80% in SPVs), driving luxury real estate demand and giving SpaceX high-valued currency for rollup acquisitions of NeoCloud, energy, and chip assets.
"on days like last Friday when we invested in SpaceX at 15 billion and banged out, you know, 150x, you know, we all need more days like that. ... there's so much that they could do…"
86:10
9
Space Economytailwind
SpaceX IPO to unleash unprecedented SPV wealth distribution and acquisition currency
SpaceX's 150x return for early investors (M13 at $15B) will create massive liquidity for retail/SPV holders (80% of cap table), not just traditional LPs. This wealth will drive luxury real estate demand and give SpaceX high-valued public stock for rollup acquisitions across NeoCloud, energy, and semiconductor supply chain.
7
Venture Capitalmixed
Early-stage VC math requires 3-5 fund-returners; operator-only teams with propulsion model winning
M13's $400M fund needs every check to return half the fund in base case (3-5 $3-5B outcomes). Team is all operators (1 ex-VC); 'propulsion team' of former unicorn founders (e.g., DigitalOcean builder) fills gaps for Series A companies. Hardware not avoided if risk-adjusted (SpaceX, Ring, Matterport). Seed/Series A specialist avoids multi-stage fund competition.