Friedberg argues traditional financial firms face a catch-22 in M&A: autonomy loses cross-sell leverage.
“And if they do that, they lose the leverage of their over their existing customer base, which is to cross sell digital services in.”
Friedberg suggests Starlink revenue could fund the rest of SpaceX projects as science experiments with upside potential.
“That I think funds all of the rest of this as kind of science projects and upside.”