PU 40: The First Trillionaire

PU 40: The First Trillionaire

The company pulling off the most successful IPO in the history of stock exchanges, SpaceX, is losing money hand over fist. And its promised future money-maker, data centres in space, is a pipe dream. Punching Upwards, Episode 40 for 14 June 2026 Topics: Technology [https://punchingupwards.substack.com/t/technology]/ Artificial Intelligence [https://punchingupwards.substack.com/t/artificial-intelligence] 🦉 No AI Content [https://punchingupwards.substack.com/p/no-ai-content] 📢 Podcast RSS Feed [https://fab.industries/podcast.rss] Credits Thanks to Michael Mullan-Jensen, Evgeny Kuznetsov, Vlad A Gouf, Fadi Mansour, Bennet Piater, Eric and Sir Galteran for supporting this podcast financially and therefore making it possible for me to produce it! See Also * Punching Upwards 34: Scam Altman [https://punchingupwards.substack.com/p/pu-34-scam-altman] * Punching Upwards 27: LLMs Are a Dead-End [https://punchingupwards.substack.com/p/pu-27-llms-are-a-dead-end] Sources * Musk’s SpaceX Goes Public: What Makes This IPO Different [https://www.youtube.com/watch?v=VfM57vU0_Jk], The Wall Street Journal, 12 June 2026 * SpaceX is now a public company valued for its AI potential, so what comes next? [https://arstechnica.com/space/2026/06/spacex-is-now-a-public-company-valued-for-its-ai-potential-so-what-comes-next/], Ars Technica, 13 June 2026 * SpaceX (Space Exploration Technologies Corp, SPCX) trading on the NASDAQ [https://www.google.com/finance/beta/quote/SPCX:NASDAQ], Google Finance * SpaceX Opens At $150—Surging 20% After Largest IPO Ever [https://www.forbes.com/sites/tylerroush/2026/06/12/spacex-opens-at-150-surging-17-after-largest-ipo-ever-live-updates/], Forbes, 12 June 2026 * SpaceX’s I.P.O. Could Turn 4,400 Employees Into Millionaires [https://www.nytimes.com/2026/06/10/technology/spacex-ipo-employee-millionaires.html], The New York Times, 10 June 2026 * Rocket Man: The otherworldly ambitions of Elon Musk [https://www.mercurynews.com/2014/04/10/2014-rocket-man-the-otherworldly-ambitions-of-elon-musk/], The Mercury News, 10 April 2014 * Meet the Musks: who’s who in Elon’s extended family? [https://www.theguardian.com/technology/shortcuts/2018/feb/21/meet-elon-musk-family], The Guardian, 21 February 2018 * How Elon Musk made his money – from emeralds to SpaceX and Tesla [https://www.independent.co.uk/space/elon-musk-made-money-rich-b2212599.html], The Independent, 28 October 2022 * Apollo’s Portable Life Support System [https://apollojournals.org/alsj/LM15_Portable_Life_Support_System_ppP1-5.pdf], Hamilton Standard, undated The theme music for the podcast is a track called Fight or Fall by Def Lev. Find out more about the show at fab.industries/podcast [https://fab.industries/podcast] — new media, new rules! Get full access to Punching Upwards at punchingupwards.substack.com/subscribe [https://punchingupwards.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

PU 39: The Dead Internet Theory Was Right

Are humans on the internet being pushed out by bots? Is this a lunatic fringe conspiracy theory or does Cory Doctorow’s thesis of enshittification accurately describe what is happening? Punching Upwards, Episode 39 for 7 June 2026 Topics: Technology [https://punchingupwards.substack.com/t/technology]/ Artificial Intelligence [https://punchingupwards.substack.com/t/artificial-intelligence] 🦉 No AI Content [https://punchingupwards.substack.com/p/no-ai-content] 📢 Podcast RSS Feed [https://fab.industries/podcast.rss] Credits Thanks to Michael Mullan-Jensen, Evgeny Kuznetsov, Vlad A Gouf, Fadi Mansour, Bennet Piater, Eric and Sir Galteran for supporting this podcast financially and therefore making it possible for me to produce it! See Also * Punching Upwards 22: Moltbook Madness [https://punchingupwards.substack.com/p/pu-22-moltbook-madness] Sources * Tweet by Matthew Prince [https://x.com/eastdakota/status/2062212701414187452], 3 June 2026 * Bots Now Outnumber Humans Online And The Internet Was Never Built For This [https://www.forbes.com/sites/josipamajic/2026/06/04/bots-now-outnumber-humans-online-and-the-internet-was-never-built-for-this/], Forbes, 4 June 2026 * Bot web traffic has overtaken human web traffic, data shows [https://www.nbcnews.com/tech/tech-news/bot-web-traffic-overtaken-human-web-traffic-data-shows-rcna348522], NBC News, 5 June 2026 * AI Agents Now Generate More Web Traffic Than Humans [https://www.cnet.com/tech/services-and-software/its-official-agentic-bots-surf-the-web-more-than-real-people-do/], CNET, 4 June 2026 * Cloudflare CEO says bot internet traffic has overtaken humans [https://sea.mashable.com/tech/48717/cloudflare-ceo-says-bot-internet-traffic-has-overtaken-humans], Mashable, 5 June 2026 * AI and bots have officially taken over the internet, report finds [https://www.cnbc.com/2026/03/26/ai-bots-humans-internet.html], CNBC, 26 March 2026 * The 2026 State of AI Traffic & Cyberthreat Benchmark Report [https://www.humansecurity.com/wp-content/uploads/HUMAN_Report_2026-State-of-AI-Traffic-and-Cyberthreat-Benchmark.pdf], Human Security, undated * “Bots have now passed human traffic online,” Cloudflare boss laments — says agentic traffic wasn’t expected to eclipse real people until next year [https://www.tomshardware.com/tech-industry/artificial-intelligence/bots-have-now-passed-human-traffic-online-cloudflare-boss-laments-says-agentic-traffic-wasnt-expected-to-eclipse-real-people-until-next-year], Tom’s Hardware, 4 June 2026 * Bots are taking over the internet and AI users are to blame [https://www.theregister.com/software/2026/02/04/ai-bot-traffic-closing-in-on-human-web-visits-study-finds/4921090], The Register, 4 February 2026 * More Articles Are Now Created by AI Than Humans [https://graphite.io/five-percent/more-articles-are-now-created-by-ai-than-humans] / AI Now Writes as Many Online Articles as Humans [https://graphite.io/five-percent/ai-now-writes-as-many-online-articles-as-humans-do], Five Percent, 15 May 2026 * How dead is the internet? [https://www.bbc.co.uk/programmes/w3ct6vyt], BBC World Service, 17 May 2025 * Social Quitting [https://doctorow.medium.com/social-quitting-1ce85b67b456], Corey Doctorow, 15 November 2022 * Enshittification:Why Everything Suddenly Got Worse and What To Do About It [https://www.versobooks.com/products/3341-enshittification], Corey Doctorow, 2025 * The Age of Enshittification [https://www.newyorker.com/culture/infinite-scroll/the-age-of-enshittification], The New Yorker, 1 October 2025 The theme music for the podcast is a track called Fight or Fall by Def Lev. Find out more about the show at fab.industries/podcast [https://fab.industries/podcast] — new media, new rules! Get full access to Punching Upwards at punchingupwards.substack.com/subscribe [https://punchingupwards.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

PU 38: Is Chat Control Finally Dead?

The EU’s attempt to assume that all of its citizens are guilty of crimes and to then scan all of their communications is finally dead. But the dangerous ideas that spawned this insanity live on. Punching Upwards, Episode 38 for 31 May 2026 Topics: Privacy [https://punchingupwards.substack.com/t/privacy]/ Crypto Wars [https://punchingupwards.substack.com/t/crypto-wars] 🦉 No AI Content [https://punchingupwards.substack.com/p/no-ai-content] 📢 Podcast RSS Feed [https://fab.industries/podcast.rss] Credits Thanks to Michael Mullan-Jensen, Evgeny Kuznetsov, Vlad A Gouf, Fadi Mansour, Bennet Piater, Eric and Sir Galteran for supporting this podcast financially and therefore making it possible for me to produce it! See Also * Punching Upwards 27: LLMs Are a Dead-End [https://punchingupwards.substack.com/p/pu-27-llms-are-a-dead-end] * Punching Upwards 14: Chat Control is Back [https://punchingupwards.substack.com/p/pu-14-chat-control-is-back] * Punching Upwards 6: Chat Control Denied [https://punchingupwards.substack.com/p/pu-6-chat-control-denied] Sources * End of “Chat Control”: EU Parliament Stops Mass Surveillance in Voting Thriller – Paving the Way for Genuine Child Protection! [https://www.patrick-breyer.de/en/end-of-chat-control-eu-parliament-stops-mass-surveillance-in-voting-thriller-paving-the-way-for-genuine-child-protection/], Patrick Breyer, 26 March 2026 * YouTube short from Tuta [https://www.youtube.com/shorts/tN0mpN1eBhk], 24 March 2026 The theme music for the podcast is a track called Fight or Fall by Def Lev. Find out more about the show at fab.industries/podcast [https://fab.industries/podcast] — new media, new rules! Get full access to Punching Upwards at punchingupwards.substack.com/subscribe [https://punchingupwards.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

PU 37: How Not to Report an Aviation Accident

China Eastern Airlines Flight 5735 crashed into a hill near Wuzhou in 2022, killing 132 people. What do we know about this Boeing 737 crash and what secret is the Chinese government keeping? Punching Upwards, Episode 37 for 24 May 2026 Topics: Aviation [https://punchingupwards.substack.com/t/aviation] / China Eastern Airlines Flight 5735 [https://punchingupwards.substack.com/t/china-eastern-airlines-flight-5735] 🦉 No AI Content [https://punchingupwards.substack.com/p/no-ai-content] 📢 Podcast RSS Feed [https://fab.industries/podcast.rss] Credits Thanks to Michael Mullan-Jensen, Evgeny Kuznetsov, Vlad A Gouf, Fadi Mansour, Bennet Piater, Eric and Sir Galteran for supporting this podcast financially and therefore making it possible for me to produce it! See Also * Punching Upwards 11: What Happened to UPS Flight 2976? [https://punchingupwards.substack.com/p/pu-11-what-happened-to-ups-flight] Sources * China Eastern Plane Crash May Have Been Intentional, Reports Say [https://www.youtube.com/watch?v=onbjg0MUF5A], NBC News, 18 May 2022 * China Eastern plane could deliberately have crashed, sources say [https://www.youtube.com/watch?v=YLFWvbv2DFE], Reuters, 18 May 2022 * Crash: China Eastern B738 near Guangzhou on Mar 21st 2022, lost altitude and impacted terrain [https://avherald.com/h?article=4f64be2f], The Aviation Herald, 21 March 2022 * Letter from the NTSB in response to a FOIA request [https://avherald.com/files/NTSB_response_to_FOIA_request_on_China_Eastern_Airlines_Flight_MU5735_alternative_version.pdf], NTSB, April 2026 * NTSB report on CVR and FDR data download [https://avherald.com/files/NTSB_DCA22WA102_Cockpit_Voice_and_Flight_Data_Recorder_Combined_Download_Report.pdf], NTSB, 1 July 2022 * China Eastern Airlines flight 5735 crashes en route to Guangzhou [https://www.flightradar24.com/blog/flight-tracking-news/major-incident/china-eastern-airlines-flight-5735-crashes-en-route-to-guangzhou/], Flightradar24, 21 March 2022 * Search finds 49,000 pieces of plane in China Eastern crash [https://apnews.com/article/business-china-beijing-3f8f48921cfdb740dbd55256ea8f6746], The Associated Press, 31 March 2022 * CAAC issues brief statement on anniversary of China Eastern 737 crash [https://www.flightglobal.com/asia-pacific/2023/03/caac-issues-brief-statement-on-anniversary-of-china-eastern-737-crash/], FlightGlobal, 21 March 2023 * Investigation into deadly crash finds no anomalies [https://www.chinadaily.com.cn/a/202403/21/WS65fb8e1ba31082fc043bde1e.html], China Daily, 21 March 2024 * Flight data bolsters claim China Eastern plane was deliberately crashed in 2022 [https://edition.cnn.com/2026/05/04/china/china-eastern-crash-ntsb-report-intl-hnk], CNN, 4 May 2026 * Data Suggests Struggle in Cockpit Before Deadly China Eastern Plane Crash [https://www.nytimes.com/2026/05/07/world/asia/china-eastern-plane-crash-flight-5735-ntsb.html], The New York Times, 7 May 2026 * Deadly China plane crash was caused by fuel cut-off, says report [https://www.bbc.com/news/articles/ckgpy223y9go], The BBC, 5 May 2025 * New Investigative Report Says China Knew More About Flight 5735 Crash Than It Let On [https://guessingheadlights.com/new-investigative-report-says-china-knew-more-about-flight-5735-crash-than-it-let-on/], Guessing Headlights, 5 May 2026 * Evergrande linked to China plane crash in wild suicide rumour [https://www.asiamarkets.com/evergrande-linked-to-china-plane-crash-in-wild-suicide-rumour/], Asia Markets, 11 April 2022 * Evergrande Group [https://en.wikipedia.org/wiki/Evergrande_Group], Wikipedia * Translation of the CAAC preliminary report by a Reddit user [https://www.reddit.com/r/aviation/comments/1bgwsxf/comment/kva0yb4/], Reddit * Reddit rumour #1 [https://www.reddit.com/r/aviation/comments/1bgwsxf/comment/l1xluxj/] * Reddit rumour #2 [https://www.reddit.com/r/China/comments/1t2vrc3/comment/ojts6ew/] The theme music for the podcast is a track called Fight or Fall by Def Lev. Find out more about the show at fab.industries/podcast [https://fab.industries/podcast] — new media, new rules! Get full access to Punching Upwards at punchingupwards.substack.com/subscribe [https://punchingupwards.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

PU 36: Dire Straits of Hormuz

The Straits of Hormuz are closed, blocking about 20% of oil shipments from reaching the global economy. But what does closed actually mean? Punching Upwards, Episode 36 for 17 May 2026 Topics: Politics [https://punchingupwards.substack.com/t/politics]/ War in Iran [https://punchingupwards.substack.com/t/war-in-iran] 🦉 No AI Content [https://punchingupwards.substack.com/p/no-ai-content] 📢 Podcast RSS Feed [https://fab.industries/podcast.rss] Routes through the Straits of Hormuz according to the Center for Strategic & International Studies (CSIS) Routes through the Straits of Hormuz according to the BBC (BBC) Credits Thanks to Michael Mullan-Jensen, Evgeny Kuznetsov, Vlad A Gouf, Fadi Mansour, Bennet Piater, Eric and Sir Galteran for supporting this podcast financially and therefore making it possible for me to produce it! See Also * Punching Upwards 30: Aviation and the War in Iran [https://punchingupwards.substack.com/p/pu-30-aviation-and-the-war-in-iran] * Punching Upwards 26: Trump Falls Into the Smart Bomb Trap [https://punchingupwards.substack.com/p/pu-26-trump-falls-into-the-smart] Sources * Confusion in the Strait of Hormuz [https://www.bbc.com/audio/play/m002vx3l], BBC World at One, 4 May 2026 * Tensions flare near Strait of Hormuz as one ship is seized and another is sunk [https://www.pbs.org/newshour/world/tensions-flare-near-strait-of-hormuz-as-one-ship-is-seized-and-another-is-sunk], PBS News, 15 May 2026 * Trump pauses Hormuz plan 50 hours after he announced it - what happened? [https://www.bbc.com/news/articles/cd6p5q2dx1po], The BBC, 6 May 2026 * Two India-bound LPG carriers exit Hormuz as BRICS gathers in New Delhi [https://www.lloydslist.com/LL1157184/Two-India-bound-LPG-carriers-exit-Hormuz-as-BRICS-gathers-in-New-Delhi], Lloyd’s List, 15 May 2026 * Report: Vessel Captured off Fujairah is a Floating Armory [https://maritime-executive.com/article/report-vessel-captured-off-fujairah-is-a-floating-armory], The Maritime Executive, 14 May 2026 * Chinese oil tanker exits Strait of Hormuz, heads for Zhoushan, data shows [https://www.reuters.com/business/energy/chinese-supertanker-attempts-hormuz-passage-data-show-2026-05-13/], Reuters, 13 May 2026 * Russian superyacht sails through Strait of Hormuz despite blockade [https://www.bbc.com/news/articles/cm2pn8zdxdjo], The BBC, 28 April 2026 * Tui Cruises says two of its ships passed through the Strait of Hormuz [https://www.reuters.com/world/middle-east/tui-cruises-says-two-ships-passed-strait-hormuz-2026-04-19/], Reuters, 19 April 2026 * Trump administration underestimated Iran war’s impact on Strait of Hormuz [https://edition.cnn.com/2026/03/12/politics/hormuz-trump-administration-underestimated-iran], CNN, 13 March 2026 * Iran begins laying mines in Strait of Hormuz, sources say [https://edition.cnn.com/2026/03/10/politics/iran-begins-laying-mines-in-strait-of-hormuz], CNN, 10 March 2026 * Report: Two Types of Iranian Mines Detected in Strait of Hormuz [https://maritime-executive.com/article/report-floating-and-bottom-mines-detected-in-strait-of-hormuz], The Maritime Executive, 23 March 2026 * Maham 3 Seamine [https://cat-uxo.com/explosive-hazards/naval-devices/maham-3-seamine], Collective Awareness to UXO, undated * Maham 7 Limpet Mine [https://cat-uxo.com/explosive-hazards/naval-devices/maham-7-limpet-mine], Collective Awareness to UXO, undated * The Strait of Hormuz in 8 Charts [https://www.csis.org/analysis/strait-hormuz-8-charts], Center for Strategic & International Studies, 22 April 2026 * There’s another big reason why shipping companies and insurers aren’t willing to risk the Strait of Hormuz [https://www.cnbc.com/2026/03/09/one-big-reason-ships-and-insurers-are-unwilling-to-risk-strait-of-hormuz.html], CNBC, 9 March 2026 * Iran threatens to close Strait of Hormuz over EU oil sanctions [https://www.telegraph.co.uk/news/worldnews/middleeast/iran/9032948/Iran-threatens-to-close-Strait-of-Hormuz-over-EU-oil-sanctions.html], The Telegraph, 23 January 2012 * West displays Gulf military power to defiant Iran [https://www.seattletimes.com/nation-world/west-displays-gulf-military-power-to-defiant-iran/], The Seattle Times, 25 January 2012 The theme music for the podcast is a track called Fight or Fall by Def Lev. Find out more about the show at fab.industries/podcast [https://fab.industries/podcast] — new media, new rules! Get full access to Punching Upwards at punchingupwards.substack.com/subscribe [https://punchingupwards.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_4]