A rocket company bought a text editor yesterday.
I'll say it again, because it doesn't get less weird the second time. A rocket company. Bought a text editor. For $60 billion.
The text editor is Cursor, the thing a lot of people write code in. The rocket company is SpaceX, which went public about five minutes ago and is apparently already bored.
Here's the part that broke me. SpaceX stock has shot up so fast since the IPO that the $60 billion was basically covered by a few hours of trading. The money appeared, they spent it on a coding app, and for a minute they were worth more than Amazon.
A rocket company. Worth more than Amazon. Because it bought an app for people who make buttons for a living. People like me.
Meanwhile...
For the first time ever, ChatGPT slipped under half the market. Still enormous, more than a billion people, the fastest app in history to get that big. But under 50% now. Gemini's climbing. Claude's climbing. The undisputed king is suddenly just the biggest kid in a crowd.
It took three years to make ChatGPT look beatable. It finally happened this spring, and almost nobody noticed. We were all watching a rocket company buy a text editor.
And then there's you.
Opening a small email, on purpose, to sort through all of it with me.
Just you, here, on time.
The most grounded thing in the whole report.
See you tomorrow.
-Melly