Here is a summary of the podcast episode from *Electrified* hosted by Dylan Loomis, published on October 28, 2026:
**SpaceX CapEx and Starlink Mobile**
* **CapEx Spending:** SpaceX recently secured $40 billion for chips because its CapEx spend is set to exceed its cash balance. Q4 CapEx alone will be $40 billion, bringing 2026 total CapEx to roughly $85 billion, while analyst consensus for 2027 puts spend at around $250 billion.
* **Cash & Debt:** SpaceX has roughly $100 billion in cash (not net cash), which does not go as far as it used to. Being investment grade, they likely lock in good rates. Furthermore, with debt markets shutting off access for companies lacking revenue outside of AI data centers, SpaceX’s continued access to debt markets serves as a major moat. Payback periods and profitability are described as too good not to pursue.
* **Starlink Mobile Timeline & Budget:** Verizon’s CEO stated Starlink Mobile will need 4-6 years and $300 to $500 billion to build out. Elon Musk replied that it will take two to three years and did not push back on the spending expectations (taking the midpoint of about $400 billion over the next few years).
* **Launch Targets:** Gwen Shotwell previously stated late 2027, but on the Q3 call noted the near-term priority is flying the Mobile V2 Constellation through next year and integrating spectrum purchases to turn on service in early 2028. Elon’s comment points to late 2028 to late 2029 for full deployment. Dylan sees no contradiction: an early version of Starlink Mobile will launch in early 2028, with the network becoming more robust and dense in following years.
* **Terrestrial Network & Cell Sites:** SpaceX is looking to secure access to 80,000 cell sites across the U.S. (about 50% of the 158,000 purpose-built towers nationwide). SpaceX is reportedly in talks with Crown Castle (owns ~40,000 towers), American Tower (~42,000 sites), and Vertical Bridge (~18,000 sites). These traditional towers will be paired with SpaceX's own fem-to-cell technology placed where existing Starlink dishes are. SpaceX is working on a presentation detailing this hybrid network.
* **CTIA Letter & Regulatory Hurdles:** The CTIA (trade group for Verizon, AT&T, and T-Mobile) sent a letter asking the FCC to remove TDD bans from consideration for SCS (Supplemental Coverage from Space, i.e., Starlink) and to increase performance requirements for direct-to-device satellites. While the CTIA raises technical arguments about interference, Dylan notes it is transparently a request to protect incumbents. Building Starlink mobile will be long and expensive, and traditional providers are clearly threatened by the upcoming hybrid network.
**Robotaxi and Autonomous Fleets**
* **Fleet Registrations & Comparison:** In Texas alone, Tesla has 1,051 Robotaxis registered, with 544 being Cybercabs (outnumbering Model Ys). Tesla added 505 Robotaxis in October alone. By comparison, Waymo ended 2025 with about 3,000 vehicles and only added around 1,000 all year, bringing its total active fleet to about 4,000. Dylan projects a very real chance that Tesla will surpass Waymo in total fleet size in the first half of 2027, if not Q1.
* **Weekly Mileage:** A Robotaxi tracker chart showed Tesla doing about 438,000 miles per week, exceeding Waymo's expected weekly mileage of 406,000 per week. Elon Musk replied that it was "never a real contest" and posted "log curve in blue, exponential in red." Dylan concludes that in terms of weekly mileage in Austin, Waymo has no chance and it is over.
* **Geofences and Expansion:** Elon has posted frequently about Robotaxis, sharing a video of a "storm of cybercabs," a new geofence in Houston ("Waymo just got mogged by Tesla in Houston"), and responding "coming soon" to Ron DeSantis's request to include Tampa and Miami beaches (Clearwater, Dunedin, Honeymoon Island, St. Pete Beach) in the geofences. Tesla is testing CyberCabs in the Pinellas, Dunedin, Clearwater, and St. Pete area.
* **Launches & Validation Vehicles:** Official announcements include Phoenix, Las Vegas, Jacksonville, and San Antonio. CyberCab is set to launch in Dallas in November, where one lot alone holds roughly 300 CyberCabs (currently validation vehicles without badging).
* **Railroad Incident & NHTSA Rules:** A video showed a CyberCab parked past a railroad crossing gate in Seattle (a validation vehicle, likely stopped after a safety monitor disengaged or the vehicle stopped on its own), highlighting that Tesla must handle railroad crossings. Meanwhile, NHTSA is proposing to amend FMVSS No. 108 (regarding lamps and reflective devices), which could remove requirements like hand- or foot-operated turn signals and introduce optional cyan ADS marker lamps to signal self-driving. Tesla’s CyberCab already has built-in capability via its front light bar.
**FSD Safety Data and Features**
* **Safety Metrics:** Tesla released new FSD safety data and updated active miles-driven to over 16.7 billion miles. Tesla claims FSD improves U.S. road safety by over 80%, potentially saving 32,000+ lives and avoiding 1.9 million+ injuries annually. The metric is derived by comparing miles driven before major and minor collisions on FSD versus the U.S. average, then extrapolating to NHTSA data.
* **Key Takeaways:** Zooming out, there is a clear uptrend in safety. Dylan highlights that a Tesla on FSD drives 10 times more miles than the U.S. average vehicle before a major collision, and 8 times more miles before a minor collision.
* **Upcoming Features:** Momentum is supported by V15, Tesla's new in-house mapping feature (improving speed limits, parking, and navigation without third-party dependence for construction or closures), Ashok's note that the system will know the user better than they know themselves, and specific voice instructions directly to FSD likely through Grok. Dylan advises fans and investors experiencing disconnect between company and stock that now is not the time to be bearish on Tesla the company.
**Easter Eggs and Optimus**
* **Houston Geofence Easter Egg:** Robin pointed out that the rocket in Tesla's new Houston geofence points directly to Tesla's TeraFab location, showcasing Tesla's S-tier Easter egg and numerology game.
* **NHTSA Audit:** Tesla's responses to NHTSA's audit query into the CyberCab are due October 30th.
* **Optimus & John Carmack's Comments:** Computer programmer John Carmack noted that no robot in the world can change jack-o'-lantern batteries, extract a precision screwdriver, unscrew tiny screws requiring hard press and twist, or pop batteries out, leaving a long way to go to replace human capabilities. Elon Musk replied: *"How about the robots looking down while assembling a Swiss watch with one hand and then without looking up catches an oblique 100 mile per hour baseball with the other hand? I also like the idea of juggling chainsaws on fire while riding a unicycle."*
* **Optimus V3 Expectations:** Dylan warns the community not to expect Swiss-watch assembly or catching 100 mph fastballs without looking from the upcoming Optimus V3 demo in the next few months. Elon's goal for V3 is to show Optimus doing something autonomously in an environment it has never seen directly before. Dylan remains confident the V3 demo will be incredibly impressive.
**Stock Market Performance**
* **Tesla Stock:** Closed at $407.46, up 4.04% (while NDX was up 1.29%). Tesla has clearly broken through its year-long downtrend, closed above it, and closed above the Fib retracement zone. In the near term, the technical setup is bullish. Dylan expects Tesla to challenge the $422 to $455 range in the coming weeks, noting meaningful resistance there, while seeing $350 or an absolute floor of $300 (given merger expectations) as unlikely to break below.
* **SpaceX Stock:** Closed at $148.58, up 1.14%.