Opening Bell 12.19.18

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Dis Union [The Water Coolest]

If you thought the US government nearing a shutdown was pure, unadulterated incompetency at its finest, just wait until you get a load of this. Italy, which is part of the EU, looks like it will avoid Union-sanctioned budget penalties pending approval by its Senate. This all began when Italy presented its budget to the EU with a 2.4% deficit ... a blatant no-no under Euro guidelines. Ever defiant, the Italian government proceeded with the budget, because they DGAF. Now, it looks like the country and their economic overlord will reach a deal.

Italy Strikes Informal Budget Deal With EU, Official Says [Bloomberg]

X gon' give it to ya [The Water Coolest]

Well, technically Baillie Gifford & Co and current shareholders plan to give $500M to SpaceX at a $3.5B valuation. Elon Musk, who is starting to look more and more like that guy you bought weed from in high school, plans to use the cash to ramp up the company's internet service.

SpaceX's current cash cow is government and private satellite launches, of which the company has had 20 thus far in 2018. A 21st was scrapped early yesterday due to an "out of family reading on first stage sensors." Whatever the f*ck that actually means.

But the recent batch of VC money will help get SpaceX's Starlink (which sounds a lot like Skynet) off the ground. Starlink will launch 11k satellites into low orbit that will help ensure internet connectivity to the world over. So definitely Skynet.

Elon Musk’s SpaceX Is Raising $500 Million in Funding [WSJ]

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