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EasyJet joins the ranks of budget airlines installing Starlink — and puts pressure on its rival Ryanair

26 October 2026 at 16:30
LISBON, PORTUGAL - APRIL 01: An easyJet aircraft moves past 
 a Ryanair airplane while taking off for London at Humberto Delgado International Airport during the first of a three-day strike by the low cost carrier cabin crew on April 01, 2023 in Lisbon, Portugal. EasyJet cabin crew strike in Portugal, called by the National Civil Aviation Flight Personnel Union (SNPVAC), takes place from April 01 to 03. The Portuguese Ministry of Infrastructure and the Ministry of Labor ordered that there have be a minimum service of 52 easyJet flights during the workers' strike, deemed necessary to meet social needs relating to the constitutional right to travel, taking into account the season covered by the declared strike days, on which is expected the displacement of a significant number of people. (Photo by Horacio Villalobos#Corbis/Getty Images)
EasyJet's Starlink deal is a potential edge over Ryanair, Europe's dominant budget airline.

Horacio Villalobos#Corbis/Getty Images

  • EasyJet announced a deal with Starlink on Monday.
  • It means two of Europe's three major budget airlines have now signed up for Elon Musk's service.
  • The move puts pressure on budget titan Ryanair after its CEO feuded with Musk over Starlink.

Elon Musk's Starlink has won its latest customer, a budget airline that could put pressure on one of the WiFi service's biggest critics.

EasyJet announced on Monday that the high-speed WiFi service would be deployed on its airplanes from the first half of next year. The British airline, which carries 100 million passengers a year, hopes to have Starlink installed across its 300-strong fleet by early 2028.

The deal means two of Europe's three biggest budget airlines have committed to Starlink.

Wizz Air, a Hungarian carrier that flies about 70 million passengers a year, signed up in June.

That leaves Ryanair, the continent's largest airline and the world's third-largest, as the only one of Europe's biggest budget carriers without the service.

Its CEO, Michael O'Leary, is well-known for being outspoken and took aim at Starlink earlier this year, leading to a spat with Musk.

"We don't think ‍our ⁠passengers are willing to pay for WiFi for an average ⁠one-hour flight," O'Leary told Reuters in January.

While Starlink is typically offered free to passengers, O'Leary also complained about increased fuel costs due to the aerodynamic drag of a Starlink terminal, installed on the top of airplanes.

Musk responded in an X post, arguing that Ryanair — which carries over 200 million passengers a year — would lose customers to airlines that do have internet access.

Over the next week, the two CEOs called each other idiots while Musk called for O'Leary to be fired and joked about purchasing the airline.

But Ryanair appeared to have the last laugh, using the publicity to launch a "Big 'Idiot' Sale" with 100,000 tickets starting at £16.99, or about $23.

The situation has some parallels with the US's Big Three airlines. While United Airlines has Starlink on almost half of its fleet and American Airlines is starting installations early next year, Delta Air Lines has instead tapped Amazon Leo, beginning in 2028.

This has led Musk to insult Delta's CEO, Ed Bastian, and call for his firing.

But American passengers are wealthier and more interested in premium offerings than their European counterparts. That trend has also prompted US budget airlines to offer comfier seats and package deals.

Adding free amenities for passengers is at odds with the typical no-frills budget-airline business model that relies on extra charges to turn a profit.

However, easyJet and Wizz may see Starlink as a way to gain an edge over Ryanair.

That may not last forever, though. In a January earnings call, O'Leary said, "I think as the WiFi technology improves over the next four or five years, we'll all be offering free WiFi access."

Read the original article on Business Insider

Anthropic wants it both ways: public money and private control

26 October 2026 at 15:48
Anthropic CEO Dario Amodei arrives near the White House ahead of a planned meeting with US President Donald Trump, in Washington, DC, on September  29, 2026.
Anthropic CEO Dario Amodei and his six cofounders will control 50.1% of the company's voting shares after it goes public.

Oliver Contreras / AFP via Getty Images

  • Public investors are finally getting a chance to invest in Anthropic.
  • But unlike other public companies, Anthropic doesn't want the public's input when it comes to major decisions.
  • Instead, Anthropic will be effectively controlled by CEO Dario Amodei and a group of other insiders.

In the next few weeks, public investors will get their chance to buy a piece of Anthropic.

But regular investors will never have a chance to steer the AI giant's decisions: Even though Anthropic is going public, it will essentially remain a private company, controlled by a handful of people with outsized power.

That's not unusual for giant tech companies launched in the past few decades (Larry Page and Sergey Brin have effective control of Google; Mark Zuckerberg has the same at Meta, as does Elon Musk at SpaceX.) It's also something you see at some prominent media companies (Rupert Murdoch and his son Lachlan have effective control of his two public companies; Larry and David Ellison have the same at Skydance.)

Anthropic's twist on the idea is that control is split between two different groups of insiders. There's a clique of seven founders, including CEO Dario Amodei and his sister, Daniela, who control 50.1% of shareholder voting power. And there's also a trust with the power to appoint four of the company's seven directors.

Put those two together, and you get a corporate constitution designed to keep public investors outside the real decisions. The founders control the outcome of any shareholder vote; the trust controls the board.

In theory, those two groups could end up in conflict on major issues. The trust-appointed directors might, say, vote to replace Amodei with a new CEO. Or the founder group could veto a sale approved by the board.

In reality, there's a lot of overlap between the two groups. For starters, Anthropic created and funds the trust. And Anthropic itself says it has made sure the trust is staffed with people who see the world the same way its executives do: "In practice to date, the Trustees and company executives have collaborated closely on sourcing, interviewing, and selecting Trustees," the company notes in its S-1 filing.

The main takeaway is that there's no way for an individual shareholder, or even institutional shareholders who own significant chunks of Anthropic's equity, to force it to move one way or another.

The upside of arrangements like this are pretty clear, from a founder's perspective: They insulate their founders and managers from investors who might only care about short-term goals.

The downside: These structures insulate founders and managers from investors who might have very good reasons to want the company to change.

A good counter-example to the trend is Twitter, which went public in 2013 without founder control — which is why Elon Musk was able to buy it nearly a decade later.

In Anthropic's case, that aversion to giving public investors a real voice is synced directly to the company's founding thesis — that the AI it is developing is so consequential and potentially dangerous, that it must be controlled by people who care about more than Anthropic's share price.

And for many investors clamoring to get in on Anthropic's IPO, that lack of control — disclosed up front — won't matter. They just want their shares to be worth more over time. Musk's ironclad control of SpaceX didn't put dampen demand for the biggest IPO in history.

But if investors ever want to force Anthropic to do something the Amodeis and their cofounders — or the Anthropic-created trust — don't want it to do, they'll be out of luck. Buyer beware.

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The neocloud stock rout continues as Elon Musk warns of 'guppy-level death'

26 October 2026 at 12:00
Elon Musk sits onstage in a dark suit, gesturing while speaking against a plain light backdrop.
Elon Musk said that many neocloud companies face "guppy-level death."

Bloomberg/Getty Images

  • Shares in neocloud companies are falling over concerns about their levels of debt.
  • CoreWeave and Nebius, two major public neoclouds, have seen their stocks drop sharply in recent weeks.
  • On Sunday, Elon Musk questioned the sector, saying that "some will make it through, but not many."

Neocloud companies are sliding even lower.

Shares dropped further on Monday after Elon Musk warned that many of them face "guppy-level death."

CoreWeave and Nebius have both fallen more than 30% over the past month, largely due to growing concerns about the debt they've taken on to build more data centers.

Soon after Monday's open, shares in both companies were down a further 4%, while Iren, another publicly traded neocloud, fell 2%.

The declines follow a string of X posts from Musk on Sunday evening questioning the neocloud business model.

"As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn't have substantial revenue independent of AI data centers," he said.

"That means the 200+ neoclouds are going to see guppy-level death and consolidation," he added. "Some will make it through, but not many."

A line chart shows the share prices of Nebius and CoreWeave between September 28 and October 23, both falling more than 30%.

Musk said that while SpaceX has closed $40 billion in debt to buy GPUs, his company makes money through Starlink and rocket launches.

Meanwhile, investors are worried that a slowing AI boom could leave debt-heavy neoclouds struggling to service their loans.

After one X user posted arguing that Musk was trying to drive down the share prices of neocloud companies to acquire them, Musk replied: "SpaceX is not buying any neoclouds. Pointless."

Nvidia CEO Jensen Huang remains bullish about the sector. "The demand for the neoclouds is off the charts," he told CNBC last Thursday.

Nvidia holds significant stakes in CoreWeave, Nebius, and other cloud-computing companies.

A CoreWeave spokesperson said: "The AI cloud market is not a monolith," and that lenders distinguish between speculative capacity and businesses with contracted revenue and a record of delivery.

They added that the company is "already a market leader operating at scale" with expertise, which it sees as key for opportunities to finance further growth.

A recent Bernstein Research report analyzed thousands of planned US data centers and estimated that only about 35% of the announced capacity will be built.

"Press releases are cheap … concrete is not," Bernstein analysts wrote in a research note.

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The 'Big Bad' theory of billionaire tech bros

26 October 2026 at 08:17
Jeremy Strong as Mark Zuckerberg, Elizabeth Holmes, and Elon Musk

Bloomberg/Getty; Jeremy Strong/Sony Pictures; Finn Gomez/Getty; Tyler Le/BI

Writing villains is supposed to be hard. No grand, world-dominating plan ever really makes sense in a story. Soon after "The Dark Knight" came out, David Goyer, its writer, told me the Joker had been a real relief. "Blessedly, because of who the Joker is, we just said, 'fuck the plan. We don't have to do it. He's the Joker. He's the anti-plan,'" Goyer said. "Trying to take over the world is such an impossible, stupid idea — as if anyone could do it with a single act, you know?"

Yet now very real people seem to try just that, on the regular. Except if you believe Hollywood, they're not insane clowns. They're billionaire tech bros. It's starting to seem like every movie and TV bad guy is a douchebag who got rich making stuff that works on your phone. Mark Zuckerberg in "The Social Reckoning," Elon Musk in "Musk," Elizabeth Holmes in "You Can See Everything," Sam Altman in the upcoming "Artificial," Sam Bankman-Fried in "The Altruists." In these stories, at varying levels of fictionality, the evil villains' megalomaniacal plans mostly make sense. Some of them even got away with it. America is eagerly consuming stories about them. "You Can See Everything" grossed $15 million on opening in just 855 theaters, twice what its producers expected.

The more interesting question is why these founders are our demons, all of a sudden. Chalk it up to the reality of the "techlash," the society-wide revulsion to Big Tech's ubiquity and power. But if you really want to understand the extent to which everyone thinks Silicon Valley is so uncanny these days, you should be watching a CBS legal procedural called "Cupertino." It's a sharp look at tech and its discontents — but more than that, it clarifies how widely the techlash is spreading.

"Cupertino" comes from the TV-making couple Michelle and Robert King, best known for the "The Good Wife" and "The Good Fight." In their new show, a slick lawyer played by Mike Colter gets iced out of the tech company he cofounded at the same time as a more junior attorney also gets ousted. The two join their wrongful-termination lawsuits against the company, eke out a big settlement, and start a firm to represent "little guys" against Silicon Valley giants. In one plotline, a drone maker tries to blame a mid-level coder for one of its bots falling out of formation during a show and killing a man — it turns out the company had changed batteries to accommodate a prospective military contract. In another, a mysterious whistleblower client asks for help to force an Anthropic-like company to put guardrails around its most powerful AI. Then the whistleblower claims to in fact be the AI.

It's all in good fun. The actors are beautiful. They banter well. Colter wears the hell out of a suit. Busy Philipps plays a Mackenzie Scott-like benefactor of the new law firm — if Scott used her incredible wealth to become a hardcore partier.

A CBS show like "Cupertino" picks bad guys that millions of people can easily recognize as deserving of comeuppance. It picked the overlords of Silicon Valley.

But thematically, there's depth. That Colter is the only Black person for miles does not go unremarked. His new partner Olivia Siffre (pronounced "cypher"), played by Rachel Keller, is a devout, cross-wearing conservative from the Midwest, an alumna of Liberty University. Their closest allies don't come from the ranks of coders, marketing, or venture capital but are instead service workers, tradespeople, and the waitstaff from a nearby TGI Fridays. (Alas, a fiction — there are no TGI Fridayses in the Valley.)

So see that class rage for what it is. The fantasy here is that the middle-American proletariat gets to stick it to bespoke-suited, arrogant C-level types and unkempt, geniuser-than-thou sex pests. Because for the last few years, those people have had all the power. "They always have a friendly audience, an accommodating interviewer who won't ask them anything controversial. And then they get into territory where the price is much higher," Robert King said in a recent interview. "They reveal who they really are: robotic, inhuman nerds who never got laid in high school and are now kind of crazy with power, self-importance, and a sense of entitlement."

The point is, the "little guys" fighting this good fight seem like they're supposed to be proxies for the viewer. "Cupertino" is a CBS procedural, the genre of shows like "NCIS" and its offspring — things that no one watches, except for 10 million people every week. That's a lot. CBS typically has the largest primetime viewership of any network, and the oldest — like, people in their 70s. It's all well and good for young coastal sophisticates to post about Elizabeth Holmes' inability to grasp the Who's-on-First routine, but "Cupertino" is aimed at America's parents and grandparents. And apparently they are excited to see the people who make their phones portrayed as the wealthy engines of every inconvenience — sources of half a billion dollars to Republicans only, builders of data centers, creators of chatbots that drive kids to death by suicide, purveyors of screens that watch you back. "Cupertino" debuted to rapturous reviews and more than 3 million viewers, beating "Grey's Anatomy" in its time slot.

A show like "Cupertino" is meant to have a low barrier to entry; it picks bad guys that millions of people can easily recognize as deserving of comeuppance. It picked the overlords of Silicon Valley.


Not so long ago it would've seemed preposterous to give a scrawny, socially awkward, brainy little guy the job of Big Bad. They're the assistant, or the butt of a particular kind of joke, like the spectrum-y heroes of the wildly popular "Big Bang Theory" — Klingon-speaking, physics-doing, Green Lantern oath-knowing clods. Still, I can think of examples of "bad guy, subtype: tech nerd" going back to the early days of science fiction. Mad scientists like Dr. Frankenstein or Dr. Jekyll, or various HP Lovecraft antiheroes, probably count. So too might the arrogant cyberneticist in Robert Heinlein's "Waldo."

A rough analog in the mid 20th century might be the rogue industrialist. After all, James Bond villains have often been tech-bro adjacent. Karl Stromberg in "The Spy Who Loved Me" wants to build independent ocean settlements; he's basically a seasteader. Hugo Drax in "Moonraker" is a eugenics-obsessed CEO who wants to build space stations, which sounds familiar. Max Zorin, played by Christopher Walken in "A View to a Kill," is an "industrialist" and the product of Nazi genetic experiments. But his megalomaniacal plan is to use a California natural disaster to gain a monopoly on silicon computer chips. That's just Jensen Huang on any given Tuesday.

The weirdest new phenomenon here is how personal it all is. Evil technology oligopolies have been representatives of oppressive capitalism in Hollywood for decades — but they were faceless. The anonymity was part of the terror. Think of the company that orders Bruce Dern to destroy the last forest in his spaceship biodome in "Silent Running," the Umbrella Corporation in "Resident Evil," or Cyberdyne Systems, creator of Skynet in the Terminator movies.

More recently, film and television have started identifying not just faceless corporations but specific tech-coded people as their worst-of-the-worst. And not just any people, but people geofenced into Silicon Valley: "Glass Onion," "Don't Look Up," "Ex Machina," "Devs," "Super Pumped" (fictionalized Uber), "WeCrashed" (fictionalized WeWork), "The Playlist" (fictionalized Spotify), and "The Dropout" (fictionalized Theranos), "Mythic Quest" — the list goes on.

Actually, Cyberdyne's a good example of one important way these depictions have changed; in 1984's "The Terminator," Cyberdyne is a Los Angeles-area heavy-industry firm. In 2015, "Terminator Genisys" moved Cyberdyne to a gleaming tech campus explicitly modeled on the headquarters of Oracle. It's an inside joke, though not the ha-ha kind. The movie's producers included Megan and David Ellison, children of Oracle CEO Larry Ellison. David now owns the merged studios of Warner Bros. and Paramount, and he just got a billion-dollar investment from Elon Musk. The new company, Skydance, includes in its holdings … CBS.

Christopher Walken's Bond villain has a megalomaniacal plan is to use a California natural disaster to gain a monopoly on silicon computer chips. That's just Jensen Huang on any given Tuesday.

"A sequence of Hollywood contemporary science-fiction movies identifies Silicon Valley capitalists as a new type of villain," write Northumbria University film studies scholars Joe Street and Russ Hunter in a 2024 paper. These new movies critique tech, they say, using an approach "in the grand tradition of cinematic science fiction touchstones such as the Cold War alien invasion films that allegorized fears of Communism in 1950s America."

In other words, movies about time-travelling killer robots and dead-eyed billionaires aren't so different, after all. Horror is about shared anxieties. Old-school mad scientists posed a threat because they dared to do experiments that contravened the laws of nature; they were evil for love of the game. The Silicon Valley bad guys are worse, because they do it for profit. "When presented with an innovation," Street and Hunter write, "the prime movers in these corporations think not of moral or ethical concerns and crucially not of the material impact of what they are doing — but only of the innovation's potential for financial gain."


Is Hollywood's techlash actually on the rise? The schlemiels of "Silicon Valley" premiered in 2014. I have tech-bro-villain articles in my files going back to 2022 at least. And the business world has always been fodder for stories filtered through the anxieties of the time—what was Ebenezer Scrooge if not a capitalist oppressor?

Mapping the full arc of technology-associated villains would be, in the words of Ted Underwood, "hard to code." Underwood's an English and information science professor at the University of Illinois at Urbana-Champaign, researching ways to identify literary trends across time, in big canons. "In addition to tracing the history of villains, you'd have to think how often these social types appear as heroes," he says. For every Max Zorin there's a Tony Stark. Ethan Hunt's nobody without tech aces Luther and Benji. "Star Trek" doesn't trek without Scotty, or Chief O'Brien. Every movie heist is basically a hack. And let me just say unto you: "MacGyver." "One hypothesis would be that what we're feeling right now with evil tech bro villains is just that the counterbalancing examples have dropped out," Underwood says.

Clearly, though, tech billionaires and their hangers on have actively tried to make themselves into main characters. Some of them seem to think they're the only real consciousnesses in a simulation, a virtual world populated with non-player characters like you and me. At minimum they evince a belief that they possess a greater depth of perception and knowledge. As the architect and tech historian Fred Scharmen once wrote, "for this particular kind of person, wealthy and powerful or not, intelligence comes paired with a certain kind of malignance. The Evil Nerd is sharp, and also mean, their big brains are oriented towards anger and destructiveness." The Thiels, Altmans, Musks, and Karps of the world turn what had been nerdy weakness into nerdy strength. They go on friendly podcasts and show up in pictures taken with presidents. We don't have to imagine them delivering what the screenwriter John Rogers, creator of the anticapitalist TV show "Leverage," calls the Evil Speech of Evil. They monologue at tech conferences! These guys embody their ideologies; l'enterprise, c'est moi.

And what happens if that kind of behavior gets depicted, week in and week out, on a popular legal procedural TV show? Even if that show airs on a network owned by one of those "evil nerds"? Hard to say. Maybe it'll be enough to turn some people into the Joker.

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Elon Musk’s dust-up with Ukraine on Starlink isn't over yet

26 October 2026 at 07:28
Ukrainian troops deploy a Starlink terminal on the battlefield.
Ukrainian troops deploy a Starlink terminal on the battlefield. Kyiv is allowed to use the civilian service for communications needs, but not for drone strikes, for which it relies on Starshield.

Dmytro Smolienko/ Ukrinform/Future Publishing via Getty Images

  • Elon Musk has accused Ukrainian forces of using commercial Starlink in drone strikes.
  • But two Ukrainian drone figures say the claim is impossible because of limits imposed on the terminals.
  • It comes after Ukraine was hit by a 10-day slowdown on Starshield, the military version of Starlink.

Ukraine said its access to Starshield was restored this weekend, but Elon Musk isn't finished with Kyiv yet.

In an X post on Sunday, Musk accused Ukrainian forces of breaching Starlink's terms of service by using the civilian platform in drone attacks.

"Ukraine military violated Starlink terms of service and used it for offensive drone strikes to kill people. That loophole was closed last week," wrote the SpaceX owner.

"Using Starlink, a civilian commercial service, for offensive drone strikes to kill people has never been allowed, nor should it be," he added.

Musk made it clear he was talking about the commercial platform and not Starshield, the military version of the satellite communications service owned and controlled by the US government.

"Were Starlink to be turned off, the Ukrainian front line would collapse immediately. This is NOT a threat, it is simply a statement of fact," Musk added.

Ukrainian drone advisors hit back

Two prominent Ukrainian drone figures, however, disputed Musk's statement, saying that it was technically impossible for any of Kyiv's troops to have independently used Starlink in drone strikes.

"As someone who was inside the process at the Ministry of Defense, I can say for sure that this is not true," wrote Serhii Sternenko, a former advisor for drones to Ukraine's defense ministry, on his Telegram channel.

"It is very strange that Elon Musk does not know about the restrictions on Starlink operation in Ukraine," wrote Serhii "Flash" Beskrestnov, another former advisor.

A Ukrainian drone operator holds a controller next to a ground drone.
Ukrainian troops are allowed to use Starlink for communication and piloting non-combat systems, such as this demining drone.

Anastasiia Sheviakova/Gwara Media/Global Images Ukraine via Getty Images

Both worked in the ministry in early 2026, when it negotiated with SpaceX to prevent Russia from using black-market Starlink terminals in the war. SpaceX agreed in February to block Starlink over Ukraine and Russia, allowing access only to whitelisted Ukrainian terminals.

Sternenko said that Ukrainian civilians and troops could register their terminals on the whitelist, but that these would only work while subject to a speed requirement.

For one to connect while moving, it would have to be put on a special list that uses Starshield instead, he said.

"That is, it was technically impossible to use civilian Starlink to perform missions on drones. All drone missions that required satellite communication could only be carried out using Starshield," Sternenko added.

Beskrestnov said the Ukrainian Starlink terminals were subject to a speed limit of 90 kmph, or about 55 mph. The civilian service is also completely cut off over Russia, he added.

"Thus, we physically cannot use commercial Starlink for deep strikes and middle strikes," Beskrestnov wrote.

Starshield vs Starlink

Tactical drones operating on the Ukrainian battlefield at speeds below 55 mph, such as first-person-view attack drones, typically use radio-frequency signals rather than satellite communication to maintain contact with an operator. These are also often too small and lack enough onboard power to reliably carry even a Starlink Mini terminal.

What Ukraine usually uses satellite internet for — hence its reliance on Starshield — is mid-range and deep strikes on Russia's rear or Russian territory, with larger, more powerful drones that fly much faster.

Ukrainian troops prep a mid-range Hornet drone at night.
An example of a mid-range drone is the Hornet, a winged drone that's about the size of a human being.

Carlo Bravo/Anadolu via Getty Images

Kyiv also relies on satellite communications for its small interceptor drones, which fly at up to 265 mph to catch incoming attack drones.

Musk followed up on his Sunday X post with a screenshot of Ukrainian President Volodymyr Zelenskyy writing on social media in mid-October that Kyiv's forces "also use Starlink for mid-range strikes" against Russian targets.

However, Zelenskyy's post was describing Ukraine's recent troubles with Starshield, and he repeatedly used the term "Starlink" to refer broadly to the military satellite service instead.

Musk and SpaceX did not respond to requests for comment sent outside regular business hours by Business Insider.

Earlier this month, Ukraine raised the alarm that its access to Starshield was being throttled at high speeds, reducing its ability to conduct deeper strikes and to control interceptor drones.

The crisis lasted 10 days and came as President Donald Trump and Musk openly criticized Ukraine for targeting Russian oil facilities at a time when the White House was trying to ease fuel prices.

The Wall Street Journal reported, citing unnamed US officials and sources, that Musk had personally ordered the speed cap. Musk and Trump have separately said they were not responsible for the slowdown.

On Saturday, Zelenskyy said Starshield services were running normally again.

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Elon Musk says neoclouds are cooked, and SpaceX won't be buying them

26 October 2026 at 05:37
Elon Musk sits in a formal setting wearing a dark suit and light tie, with attendees blurred behind him.
Elon Musk said neoclouds are going to see "guppy-level death."

Win McNamee/Getty Images

  • Elon Musk is not a fan of neoclouds, which are specialized cloud companies that provide compute for AI.
  • He said many neoclouds will face "guppy-level death" and SpaceX would not be buying any of them.
  • Musk replied to Chamath Palihapitiya, who said neoclouds are "disorganized and poorly capitalized."

Elon Musk is a neocloud doomer.

The SpaceX CEO took a hard stance on the future of neoclouds — cloud companies like CoreWeave and Nebius, that specialize in providing computing power for AI — in a Sunday X post.

He wrote that debt markets are reluctant to finance any company that relies almost entirely on AI data centers for revenue. He said SpaceX has secured $40 billion in debt to buy GPUs, but unlike neoclouds, his company earns revenue from its Starlink and rocket-launch activities.

"That means the 200+ neoclouds are going to see guppy-level death and consolidation," he wrote. "Some will make it through, but not many."

Musk's post was in reply to one by venture capitalist Chamath Palihapitiya, who wrote on X that neoclouds are "disorganized and poorly capitalized."

Replying to another X thread speculating if he was trying to drive down the prices of neocloud stocks and scoop them up for cheap, Musk replied, "SpaceX is not buying any neoclouds. Pointless."

This comes as the stocks of neocloud companies have taken hits recently amid fears of high debt levels and a lack of other revenue streams. CoreWeave's stock has dropped about 37% in the past month, while Nebius' has dropped 30% in the same time.

Nvidia CEO Jensen Huang, however, has maintained that demand for AI cloud infrastructure is "off the charts." Nvidia is a major backer of neocloud companies like CoreWeave, Nebius, Iren, Lambda, and others.

Another point that Musk added, in a separate X reply on Friday, was that the industry would see a lot of "stranded compute in partially complete data centers."

By "stranded," Musk was referring to compute that is ready to use but can't be deployed because data centers aren't yet equipped to turn it on.

As Business Insider's Eugene Kim wrote last week, Amazon Web Services is expected to receive $5 billion worth of Nvidia GB300 racks, but the company does not have enough power in its data centers to power them. AWS will be storing the units in warehouses until its centers are ready.

Data centers, too, are running into some challenges. A recent Bernstein Research report projected that only about 35% of planned data center capacity in the US will be built.

Hyperscalers like Amazon, Google, Meta, and Microsoft, which have experience building and operating data centers, will likely successfully complete construction of their planned centers, the report predicted.

But Bernstein Research said newcomers, like celebrity investor Kevin O'Leary whose company has pledged to build 15 gigawatts of data center capacity, were called "bragawatts," and their projects are unlikely to be realized.

It's not just the neoclouds facing a troubled stretch amid an AI reckoning; neolabs are, too. Neolabs are small AI model development startups, like ex-OpenAI CTO Mira Murati's Thinking Machines Lab and OpenAI cofounder Ilya Sutskever's Safe Superintelligence. These labs are heavily funded and face strong competition from frontier AI behemoths like Anthropic and OpenAI.

Several VCs told Business Insider's Ben Bergman recently that neolabs were overhyped and investing in them was a contentious topic.

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Bill Gates predicts 20 years of turmoil before AI creates 'true abundance'

25 October 2026 at 08:37
Microsoft cofounder Bill Gates.
Microsoft cofounder Bill Gates.

Fabrice COFFRINI / AFP via Getty Images

  • Bill Gates says AI will bring about an age of abundance in 20 years, but it'll be a rocky road.
  • He predicted robots will displace human workers and "build houses, grow food, do surgery."
  • Some jobs might be reserved for people, and work limits could preserve employment, Gates said.

Bill Gates says AI will create "true abundance," but the next two decades before it arrives will be "as tumultuous a period as there's been in human history."

"My big concern is this 20-year transition period, where they'll have winners and losers and a lot of disruption," the Microsoft cofounder and billionaire philanthropist said on the latest episode of the "Decoder" podcast.

Gates echoed widespread concerns about white-collar jobs, saying that telesales, telesupport, and accounting will disappear as AI will be able to do those "radically cheaper, radically faster, and even more accurately." As for blue-collar jobs, humanoid robots will take over those, he said.

"If we don't choose to massively slow down or stop, then we will have robots that can build houses, grow food, do surgery," Gates said. "And none of the things that human labor provides to the economy will be necessary for most goods and services."

He also underscored how jarring it will be for someone like him, whose vast resources have allowed him to lead the charge toward eliminating malaria and tackling other humanitarian crises.

"And when the AI says to me, 'No, I'm better than you, you go play pickleball and I'll get back to you, I'm gonna take care of this' — I mean, it's kind of humorous, but it's not humorous," he said.

Gates shared his long-held view that work is vital to giving people a sense of purpose, a way to earn an income, a reason to show up every day, an avenue to build relationships with colleagues, and a path to build things and solve problems.

He suggested that certain activities such as art, sports, cooking, and childcare could one day be reserved for humans, "even though the AI could do those things better."

Gates also highlighted that measures such as early retirement and caps on working hours could help maintain some level of human employment.

He envisioned some people saying, "Let's be like the Amish and let's only use AI for certain things," so they won't have to give up "helping each other or coming up with unique ideas."

Amazon founder Jeff Bezos and JPMorgan CEO Jamie Dimon have both proposed a shorter workweek as a less painful alternative to AI-driven unemployment.

Gates is one of several tech leaders to warn of job disruption on the road to an age of abundance.

Elon Musk has predicted a "bumpy" transition and proposed government checks for all as the best solution to AI-driven job losses. He's said that technology will drive production costs so low that everyone can have "whatever stuff they want," work will become "optional," and it's not worth saving for retirement in 10 or 20 years as money won't matter.

Similarly, Anthropic's Dario Amodei has said that AI promises to "raise the quality of life for everyone," but the "short-term shock will be unprecedented in size."

However, OpenAI's Sam Altman said in May that AI hasn't eliminated as many white-collar jobs as he expected, and he no longer anticipates a "jobs apocalypse."

Despite widespread worry about AI taking corporate jobs, and high-profile layoffs at major companies such as Amazon and Meta, national unemployment hasn't increased materially during the AI boom.

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Zelenskyy says Starlink is working again in Ukraine and thanks Americans who 'took this seriously'

24 October 2026 at 20:33
Ukraine's President Volodymyr Zelensky gestures as he addresses the media ahead of his meeting with Finland's Prime Minister in Kyiv on October 22, 2026, amid the Russian invasion of Ukraine. (Photo by Genya SAVILOV / AFP via Getty Images)
Ukrainian President Volodymyr Zelenskyy said Starlink's speed had returned to normal.

Genya SAVILOV / AFP via Getty Images

  • Volodymyr Zelenskyy said that speed restrictions on Ukraine's Starlink connection have been lifted.
  • His comments marked the end of a chaotic 10-day period where connection speeds were throttled.
  • Ukraine uses Starlink to fly its drones and interceptors.

Ukraine President Volodymyr Zelenskyy said on Saturday that his military's access to a network of Elon Musk's satellites, which it relies on for defense, had been restored.

Zelenskyy's comment, made in an X post, came after a chaotic 10 days that began when an advisor to the Ukrainian president said that drones and other projectiles were losing access to the Starshield network.

Starshield is the military application of Musk's Starlink satellite network. In the no-man's-land of war-torn eastern Ukraine, the Ukrainian military relies on Starshield satellites to give it control of fast-flying, exploding drones and interceptors.

"I thank all Americans and all our partners who took this seriously and truly helped — members of Congress, senators, all the media, the State Department, and the President," Zelenskyy said in a video he posted to X on Saturday.

Though Musk, as the CEO of SpaceX, to some degree owns the network of satellites, he said in an X post that "any limits on speed or usage are decided by the US military and ultimately POTUS."

In an X post on Saturday, Musk differentiated between Starlink, which is used for commercial purposes, and Starshield, which is "controlled by the US government," he said.

"Ukraine military violated Starlink terms of service and used it for offensive drone strikes to kill people," Musk said. "That loophole was closed last week."

The Wall Street Journal reported that Musk himself had ordered the slowdown. Earlier this month, after Ukraine targeted Russian oil facilities, both Musk and President Donald Trump made statements disparaging Zelenskyy. Trump has tried to ease high gas prices — which spiked after the US attacked Iran in February — by loosening sanctions on Russian energy.

"Zelensky has gone too far," Musk said in an X post on October 10.

For his part, Trump told reporters that he didn't know who ordered the slowdown. "I don't know who it was, but I'd like to find out," he said on October 19.

As Russia attempts to bombard Kyiv into submission ahead of what is widely expected to be one of the most brutal winters of the nearly seven-year-long war, a Starlink connection allows Ukraine to intercept some of Russia's slower-paced drones.

The throttling of Starlink prompted a rare outburst from Ukraine's leader, who has sought to control his demeanor after a disastrous Oval Office meeting last year, when Trump berated Zelenskyy for not adequately appreciating US support.

In an interview with Piers Morgan on his YouTube channel on October 14, Zelenskyy called the Starlink slowdown "a big mistake."

"This decision will bring a lot of human losses," he said.

SpaceX and the White House did not immediately respond to requests for comment sent on Saturday.

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