CElon just posted one word on X: Interesting.
MThat's it? "Interesting"?
CHe's quoting DogeDesigner, who pulled the new SEC filing. Alphabet added three point eight five million more SpaceX shares last quarter.
MAlphabet now holds five hundred fifty-five million SpaceX shares. Worth about eighty-three billion dollars.
CThat started with a nine hundred million dollar check from Google back in twenty fifteen.
MAnd now SpaceX alone is almost ninety-five percent of Alphabet's reported stock portfolio.
CI think that's the best venture return in Big Tech. Bar none.
MIt's also a massive concentration. One rocket company, one bad quarter, and the whole equity book wobbles.
COh, come on. The equity book isn't Alphabet's core business. Ads, Cloud, YouTube—that's the company.
MSo why put almost all the stock portfolio in one name?
CBecause it's the best company they could buy. You don't diversify into mediocrity just to look responsible.
MThat's not how a parent company manages risk. You diversify because you don't know which bet fails.
CThey didn't fail! They've been right for a decade, through every rocket delay and test anomaly.
MThat's survivor bias, Chris. Google had enough cash to lose it all and still dominate search.
CBut they didn't lose. They bought private, it listed, and now they're adding more.
MThey're adding at a much higher valuation! The original nine hundred million is history; this is new capital.
CNew capital into the most valuable private company in the world, with launch demand that keeps growing.
MI'm not saying SpaceX is bad. I'm saying Alphabet behaving like a hedge fund is not a strategy.
CThe alternative is sitting in treasuries while your core AI business gets eaten alive. I'll take the rocket exposure.
MThey could buy back their own stock and let shareholders decide.
CNow you're just arguing with Warren Buffett.
MAnd he'd agree with me on concentration.
CFine—Alphabet should call Buffett for allocation advice and Musk for launch dates.
MYou're still wrong. But that call would be interesting.
MWhile we're on AI and security, an AI daily newsletter on X floated a claim that should make you check your ChatGPT links.
CWhat kind of claim?
MFady's AI Systems newsletter says a crafted ChatGPT share link could run code, read a visitor's chats, and send them out.
CThat would be a serious hole.
MThe newsletter claims OpenAI paid five thousand dollars and hasn't said whether anyone was hit.
CFive thousand dollars for reading people's chats sounds low.
MAs of now, no reliable outlet or OpenAI statement confirms that story. Treat it as a rumor.
CStill, sharing chat links with strangers is already a bad idea. Now it's a worse idea.
MIf OpenAI confirms it, we'll cover the fix. For now, don't panic, but don't share links with anything sensitive.