A Tesla–SpaceX merger could make a lot of strategic sense. That may surprise some people, given the way this conversation has been framed online. So let’s be clear up front. We are not anti-SpaceX. We are not anti-merger. We are not suddenly Tesla bears. If anything, the reason we’re talking about this is because we remain extremely bullish on Tesla, and we think Tesla shareholders need to be thinking about the terms of a possible merger before a deal is actually on the table. Because once a...

If you own SpaceX, the advice is coming. Maybe it has already started. Diversify. De-risk. Lock in the win. Move into private equity. Move into private credit. Buy real estate. Use a collar. Set up a prepaid forward. Build a custom index. Spread the risk around. Get sophisticated. It will all sound reasonable. It will all sound responsible. And some of it may even be useful in the right situation. But before you let anyone shrink the best investment decision you ever made, it is worth asking...

A pre-IPO planning guide for SpaceX (SPCX) employees and early holders — what to lock in during the days before the listing, while you still can. You saw it before the headlines did. While Wall Street explained why a reusable-rocket company couldn't possibly be worth the price, you were already in. And you were right. Now it's days away. SpaceX is reportedly heading to the public market under the ticker SPCX at a valuation somewhere in the $1.75–2 trillion range — one of the largest IPOs in...