AI Summary
5 min readElon Musk personally ordered the Starlink speed cap that blindsided Ukraine last week, according to a Wall Street Journal exclusive. The slowdown rendered some Ukrainian offensive drones and interceptor drones virtually useless. Ukrainian President Volodymyr Zelensky’s complaints initially led to confusion about who gave the order — Musk tweeted that speeds were up to President Trump, and Trump said he didn’t know who did it. Some U.S. officials say Musk acted unilaterally, and Trump did not order the slowdown. But one person familiar with the situation said Musk talked to multiple senior administration officials, including Trump, before imposing the new speed cap. SpaceX did not respond to a request for comment.
SpaceX and Anthropic: Growth, Profit, and a Mismatch in Commitments
SpaceX reported its first profit as a public company in the third quarter, with revenue more than doubling to $14.6 billion. Net income came to more than $4 billion. The company’s AI division supercharged that growth, alongside a surge in capital spending on artificial intelligence and new technology.
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What you'll learn
- 1 (00:03) **Top Stories Overview** - The host previews three major stories: Elon Musk ordering the Starlink slowdown in Ukraine, Anthropic's IPO filing showing rapid growth and massive costs, and a bipartisan push for energy infrastructure reform.
- 2 (00:55) **Elon Musk Ordered Starlink Slowdown in Ukraine** - The WSJ reports that SpaceX CEO Elon Musk personally ordered a speed cap on Starlink internet service used by Ukraine, rendering some drones useless.
- 3 (01:42) **Earnings Roundup: SpaceX, Netflix, and GM** - SpaceX reported revenue more than doubled to $14.6 billion in Q3, driven by AI, with net income over $4 billion—its first profit as a public company.
- 4 (03:18) **Anthropic's Draft IPO Filing Reveals Red-Hot Growth and Massive Costs** - The WSJ has seen Anthropic's draft IPO prospectus, showing revenue grew to about $16 billion in the first half of the year, up from $1.1 billion a year earlier, but a loss of $80.7 billion.
- 5 (04:41) **Market Snapshot** - The Dow rose about 1%, the S&P also gained, and the Nasdaq was nearly unchanged; crude oil prices fell back below $109 a barrel.
- 6 (04:55) **Bipartisan Group Pushes Congress for Energy Permitting Reform** - A bipartisan group of former U.S. officials, including Janet Yellen and Mike Pompeo, urges Congress to pass a sweeping energy permitting bill, warning the U.S. is losing a race with China.
- 7 (08:45) **U.S. Tells Gulf Allies to Look Out for Themselves** - U.S. Ambassador Tom Barrick told Gulf allies at the Global Security Forum in Doha that they can no longer rely on America to solve all their problems, though he said "we're not leaving."
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Show Notes
P.M. Edition for Oct. 20. The Wall Street Journal is exclusively reporting that the decision to cap the Starlink speeds, rendering some of Ukraine’s drones useless, came from Musk. Plus, a new draft prospectus ahead of Anthropic’s IPO shows that the company has red-hot revenue growth. But WSJ tech reporter Anissa Gardizy tells us it also has high compute costs and a long list of risks. And a bipartisan group of former U.S. officials is urging Congress to pass an energy bill that they say is critical for countering China. We hear from WSJ reporter Benoit Morenne about why the midterms are teeing up a fight over the bill’s future. Alex Ossola hosts.
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