Good morning. How about that SpaceX IPO, eh? Word on the street here in Los Angeles is that all those SpaceX employees are going to push up the already-high price of real estate in the region.
Despite the company’s official relocation to Texas, about a third of SpaceX’s 22,000-strong workforce remains in Hawthorne, a small city 12 miles south of central L.A. Many of them own shares in the company. Many of them are part of the more than 4,000 that became paper millionaires when SPCX closed at about $161 on Friday.
Where to put one’s winnings? L.A. real estate is rarely a bad bet, but based on my conversations with aerospace execs in the area, there’s broad hope that some of the more entrepreneurial SpaceX vets take their newfound riches and reinvest it in new ventures in “The Gundo,” “Space Beach,” and beyond. Fingers crossed.Today’s tech news below. —Andrew NuscaP.S. Speaking of L.A. chatter, how electrifying was that USA-Paraguay World Cup game? I could watch those Balogun goals on repeat for hours.
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Anthropic rushes to put out its latest fire in WashingtonAnthropic CEO Dario Amodei testifies during a Senate hearing on July 25, 2023 in Washington, D.C. Alex Wong/Getty Images
