Dated, graded forecasts on space, defense, energy and manufacturing.

Latest call · Space

A gas station in orbit.

NASA's Artemis update on Oct 23: the first vehicle for Starship's propellant transfer demo is in build and integration. The test was first planned for March 2025. It's now reported for early 2027.

Propellant is transferred between two Starship vehicles in orbit on or before 2027-06-30 (UTC), as confirmed by SpaceX or NASA.

Probability
50%
Resolves
2027-06-30
Method
Monte Carlo
Graded in public →

Disclosure: I hold SpaceX.

Privacy

Latest issue →

Illustration: two Starship vehicles docked tail to tail in low Earth orbit, transferring liquid oxygen and methane, with tanker ships on a dashed orbit and Earth's horizon below.

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What this is for

The reckoning is mine.

This brief exists to put my judgment on the record where it can be checked. The reckoning is directed at me, not at the companies I write about.

The aim is a track record a reader can weigh before trusting the analysis, with the misses left in. Investors get a calibrated view with the reasoning and sources attached. Strategy teams get analysis built for decisions, not news. I get a discipline that most coverage of these sectors never faces.

If the record is good after a year, that will be visible. If it is not, so will that.

Most coverage of these sectors is a relay.

A company announces something, the announcement gets repeated with adjectives, and nobody goes back. There is no scoreboard, so being wrong costs nothing — and analysis that costs nothing when it’s wrong is worth what you pay for it.

Every call is dated

A probability, a resolution date, and a falsifier — the specific observation that would prove it wrong. Written down before the outcome is known.

Every call gets graded

On its date, in public, with a Brier score. Including the ones that go badly, and especially those. A scoreboard nobody can check is not a scoreboard.

Nothing gets edited away

The register is append-only. A call that ages badly stays in the file with its original wording and its original date. Corrections are new entries that point back.

Positions come first

I invest in these sectors. Exposure and ninety-day intent are declared at the top of every issue, before any analysis.

Register file → register.jsonl — every entry, append-only  ·  Disclosure → how positions are declared

The register

Open forecasts.

Probabilities are set by hand, never by a model, before an entry goes public. AI tools help with research and drafting. Every probability, resolution date and falsifier is set by me.

Each call is graded with a Brier score: the squared gap between the probability and the outcome. 0 is perfect; 0.25 is what a coin flip earns. Calibration.
The claim text, not the headline, governs grading. Probabilities are shown to the nearest 5% and graded on the exact stored value.

2026-10-041 · logged 2026-10-27 · first posted 2026-10-27 05:18 UTC · Space

Big Iron attempts orbit by Dec 31, 2028

15% · Reference classResolves 2028-12-31
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimCowboy Space Corporation's Big Iron rocket makes an orbital launch attempt on or before 2028-12-31.
FalsifierNo Big Iron lifts off on an orbital trajectory by 2028-12-31 23:59 UTC. Static fires, hops and suborbital tests do not count; a liftoff on an orbital attempt counts whatever the outcome.
Reference classNew orbital launch vehicles' first flights against their first announced target dates (New Glenn, Neutron), which typically came 1 to 3 years late.
2026-10-040 · logged 2026-10-27 · first posted 2026-10-26 23:29 UTC · Cross-sector

Tesla reports 1 million Optimus robots deployed by end-2031

30% · Scenario modelResolves 2032-04-30
Disclosure: I hold Tesla.
Claim, falsifier, and reasoning
ClaimTesla reports at least 1,000,000 cumulative Optimus robots deployed, inside and outside Tesla, on or before 2031-12-31.
FalsifierTesla's reported cumulative Optimus deployments, inside and outside Tesla, are below 1,000,000 as of 2031-12-31, per its Form 10-K for fiscal 2031 or another Tesla report published by 2032-04-30. If Tesla reports cumulative production but not deployments, cumulative production counts in place of deployments. No qualifying figure of at least 1,000,000 by 2032-04-30 resolves the claim false.
Scenario modelThree scenarios: works and scales, 18% (all clear 1M); works but slower, 32% (40% clear); struggles, 50% (none clear). Total 30.8%, posted at 30%.
2026-10-039 · logged 2026-10-27 · first posted 2026-10-26 22:32 UTC · Cross-sector

OSC lends to a second launch company by Oct 31, 2027

40% · Reference classResolves 2027-10-31
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimThe Department of War's Office of Strategic Capital publicly announces a loan or conditional loan commitment to a launch company other than Stoke Space between 2026-10-26 and 2027-10-31.
FalsifierNo Office of Strategic Capital announcement, between 2026-10-26 and 2027-10-31 23:59 ET, of a loan or conditional loan commitment to a launch company other than Stoke Space. A launch company is one whose primary business includes developing or operating orbital launch vehicles; the loan's purpose does not matter.
Reference classOSC's announced loans to date (MP Materials, August 2025; Energy Fuels, conditional, June 2026; Stoke Space, conditional, 26 October 2026), with judgment for the 1 October 2028 expiry of its authority to make new loans.
2026-10-038 · logged 2026-10-23 · first posted 2026-10-23 19:41 UTC · Space

First Starship ship-to-ship propellant transfer by Jun 30, 2027

50% · Monte CarloResolves 2027-06-30
Disclosure: I hold SpaceX.
2026-10-23 Source added: NASA, "Artemis Acceleration" (NASA Update on Artemis Program), Kennedy Space Center, 2026-10-23, 2:00 pm ET; on-screen graphic at about 57 minutes: the propellant transfer demo's first vehicle is in build and integration. Also on YouTube (youtube.com/live/pAKqJxuxDgk); event listing at SpacePolicyOnline. source
Claim, falsifier, and reasoning
ClaimPropellant is transferred between two Starship vehicles in orbit on or before 2027-06-30 (UTC), as confirmed by SpaceX or NASA.
FalsifierNo SpaceX or NASA confirmation, published by 2027-07-07 23:59 UTC, that propellant was transferred between two Starship vehicles in orbit on or before 2027-06-30 23:59 UTC. A transfer between tanks of a single vehicle (as on Flight 3 in 2024), a docking without a confirmed transfer, or a ground test does not count.
Monte Carlo · inputsFirst demo vehicle launch-ready median 4 mo (p90 7.5); second vehicle median 1 mo (p90 3); 3 intervening flights, 25% mishap each, stand-down median 1.5 mo (p90 4); first attempt succeeds 70%, retry 80%; 'early 2027' reported target with a 2.0x remaining-time slip, from this demo's two prior ~12-month slips (NASA OIG IG-26-004). 1M trials; blend of bottom-up and slip-factor models.
How I got 50%

ModelP(YES) = 0.5 × P_A + 0.5 × P_B. Model A builds the date from its parts: first vehicle ready + second vehicle + stand-downs after mishaps on the flights in between + a retry if the first attempt fails, and asks whether a transfer succeeds by 2027-06-30. Model B takes the reported early-2027 target and stretches the remaining time by a slip factor drawn from this demo's own history.

A1 first vehicle ready, months (median; p90 7.5) = 4.00The first demo vehicle, in build and integration on 2026-10-23, is launch-ready in a median of 4 months.Evidence. NASA's Artemis update of 2026-10-23 put the first vehicle in build and integration [UNVERIFIED: livestream, no fetched transcript]. The duration is a judgement.
A2 second vehicle, months after the first (median; p90 3) = 1.00The second vehicle is ready and launched within a median of one month of the first.Evidence. A judgement: the demo needs two vehicles in orbit within the first one's loiter time.
A3 mishap chance on each of 3 intervening flights = 0.25Each of the three flights before the demo has a 25% chance of a mishap, each costing a stand-down of a median 1.5 months (p90 4).Evidence. Judged from the Starship flight record, 2023–2026, which includes failures and stand-downs.
A4 first attempt achieves a transfer = 0.70The first attempt transfers propellant; if not, a retry follows after a median 2.5 months (p90 5) and succeeds 80% of the time. A third attempt is treated as too late.Evidence. A judgement for a first-of-kind cryogenic transfer between two vehicles.
B1 months to the reported target (midpoint of 15 Jan – 15 Apr 2027) = 4.20SpaceX's reported target is early 2027, drawn uniformly between 15 January and 15 April.Evidence. eeNews Europe, 2026-10-23: SpaceX plans an orbital propellant-transfer demonstration early in 2027.
B2 slip factor on remaining time (median; p90 3.1) = 2.00The time left to the target stretches by a median factor of 2.0, never less than 1.0.Evidence. This demo's own history: planned for March 2025, then March 2026, unscheduled as of September 2026 (Wikipedia; NASA OIG IG-26-004). A generic SpaceX milestone slip, median 1.7, gives about 0.59 instead.

ResultModel A (bottom-up): 0.542. Model B (slip factor): 0.487. Blend: 0.514, logged as 0.51 and shown as 50%.

CorrelationThe two models are averaged, not chained. Inside Model A the draws are independent, so a single cause that delays everything at once (a long stand-down that also holds the demo vehicles) is not modelled; that makes Model A somewhat optimistic.

SensitivityOne input at a time, the rest as stated: slip median 1.7 → 59%, 2.4 → 43%; first vehicle median 5.5 months → 44%; mishap 0.40 per flight → 47%; first attempt 0.55 → 48%, 0.85 → 54%.

Signals to watch

Up

  • Both demo vehicles shown complete or rolled to the pad.
  • A clean Flight 15 with no stand-down.
  • A NASA or SpaceX date for the demo inside the first quarter of 2027.

Down

  • A mishap on any intervening flight, with an FAA-required investigation.
  • The demo moved to the second half of 2027 in a NASA or SpaceX statement.
  • The first vehicle reported back in rework.

Not counted as evidenceFlight 3's 2024 transfer between two tanks of one ship, a docking without a confirmed transfer, and ground tests. None of them is a ship-to-ship transfer in orbit.

Sources

The model, runnable →

Updates since 2026-10-23

  • 2026-10-23: A1 evidence from [UNVERIFIED] livestream, no link to linked: NASA "Artemis Acceleration", 2026-10-23. The source for the first vehicle's status is now linked (on-screen graphic at about 57 minutes). No input or number changes. New result: 50%. sources
2026-10-036 · logged 2026-10-22 · first posted 2026-10-22 23:27 UTC · Space

New Glenn flies again by Mar 31, 2027

65% · Reference classResolves 2027-03-31
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimA Blue Origin New Glenn rocket lifts off on or before March 31, 2027.
FalsifierNo New Glenn lifts off between logging and 2027-03-31 23:59 UTC. Static fires, hotfires and scrubs without liftoff do not count; a liftoff that fails does count.
Reference classLaunch vehicles returning to flight after a ground-test anomaly that destroyed the vehicle and damaged its pad, including Falcon 9 after AMOS-6 (2016).
2026-10-035 · logged 2026-10-22 · first posted 2026-10-22 23:27 UTC · Space

New Glenn flies again by Dec 31, 2026

20% · Reference classResolves 2026-12-31
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimA Blue Origin New Glenn rocket lifts off on or before December 31, 2026.
FalsifierNo New Glenn lifts off between logging and 2026-12-31 23:59 UTC. Static fires, hotfires and scrubs without liftoff do not count; a liftoff that fails does count.
Reference classLaunch vehicles returning to flight after a ground-test anomaly that destroyed the vehicle and damaged its pad, including Falcon 9 after AMOS-6 (2016).
2026-10-034 · logged 2026-10-22 · first posted 2026-10-22 03:38 UTC · Space

A second Vikram-1 flies by Jul 18, 2027

80% · Reference classResolves 2027-07-18
Claim, falsifier, and reasoning
ClaimA second Skyroot Vikram-1 flight lifts off on or before July 18, 2027.
FalsifierNo second Vikram-1 lifts off by 2027-07-18 23:59 UTC. A scrub without liftoff, a static fire or a ground test does not count; a liftoff that fails to reach orbit does count as a flight. 'By its one-year anniversary', as posted, is read as on or before 2027-07-18, one year after Vikram-1's first orbit on 2026-07-18.
Reference classTime from first to second flight for new small launch vehicles.
2026-10-033 · logged 2026-10-22 · first posted 2026-10-22 03:38 UTC · Space

A second Vikram-1 flies by Dec 31, 2026

35% · Reference classResolves 2026-12-31
Claim, falsifier, and reasoning
ClaimA second Skyroot Vikram-1 flight lifts off on or before December 31, 2026.
FalsifierNo second Vikram-1 lifts off by 2026-12-31 23:59 UTC. A scrub without liftoff, a static fire or a ground test does not count; a liftoff that fails to reach orbit does count as a flight.
Reference classTime from first to second flight for new small launch vehicles.
2026-09-003 · logged 2026-10-15 · Space

SpaceX lists a per-kg Starship price to Earth orbit on spacex.com before 2028

20% · Monte CarloResolves 2028-01-31
2026-10-23 Shown as 20% from 23 Oct 2026, when every entry moved to the nearest 5%. W1 published it as 19%; the stored number, 0.19, is unchanged and is the one graded.
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimBefore 2028-01-01, SpaceX lists on its own website (spacex.com, including the rideshare page) a Starship launch price per kilogram to Earth orbit, or a Starship rideshare price with a per-kg rate to Earth orbit.
FalsifierAs of 2028-01-01, spacex.com (including the rideshare page) lists no Starship launch price per kilogram to Earth orbit and no Starship rideshare price with a per-kg rate to Earth orbit, assessed against the live site and Internet Archive snapshots of it. Not counted: prices to the Moon, Mars or other destinations beyond Earth orbit (including the Mars cargo rate); per-kg figures computed from a launch price and a payload mass; customer regulatory filings; executive statements or posts; cost targets; press reports; private contract prices.
Monte Carlo · inputsFour judged factors in the model P(YES) = R × K × L + (1 − R × K × L) × O, drawn as correlated Beta distributions: Starship credible enough to sell 2029 seats (R), rideshare moved to Starship (K), a per-kg price listed in time (L), any other route (O). The reasoning, the sources and the runnable model are published with the entry.
How I got 20%

ModelP(YES) = R × K × L + (1 − R × K × L) × O

R = 0.45By mid-to-late 2027, Starship is credible enough that SpaceX will sell 2029 seats to outside customers.Evidence. First orbital flight on 28 Sep 2026 (Flight 14; 26 Starlink V3 satellites deployed, early return after an engine shutdown). A ship catch attempt is planned for Flight 15, not yet flown. Musk's condition for winding down Falcon is Starship "flying reliably several times per week" (X post of 22 Aug 2026), far above the current few flights a year. My judgement: his timelines have historically slipped two to three times.
K = 0.50SpaceX keeps rideshare and moves it to Starship, rather than dropping it or leaving it on the few remaining Falcon 9 missions.Evidence. SpaceX reportedly is not booking Falcon 9 beyond 2028 (single-source report, Sep 2026). Industry reports say it may stop all but a few Falcon 9 missions from 2028. Rideshare is small next to Starlink, but SpaceX dominates it.
L = 0.65Given R and K, SpaceX lists a per-kg price on spacex.com before 2028-01-01.Evidence. SpaceX already publishes Falcon 9 rideshare pricing: $350,000 for up to 50 kg to sun-synchronous orbit, then $7,000/kg for 2026 (SpaceX's own price feed, read 11 Oct 2026). The feed's ladder runs to 2027 and does not mention Starship. Timing risk: rideshare sells 12 to 24 months ahead, so a listing for a late-2029 flight could land in early 2028, after the deadline.
O = 0.04Any other route: an early listing for marketing, or a response to competitors.Evidence. Seven years of Starship development with no listing so far.

ResultWith independent factors: 0.45 × 0.50 × 0.65 = 0.146, and 0.146 + 0.854 × 0.04 = 0.180.

CorrelationThe factors move together: if Starship works, the rest become more likely. A Monte Carlo with a moderate correlation (0.3 between R and K; 0.15 between each of them and L) gives a mean of 0.187, so 19%. 80% range: 8% to 31%.

SensitivityEach factor moved 0.15 up and down, the others fixed: R 13% to 23%; K 14% to 22%; L 15% to 21%.

Signals to watch

Up

  • A ship catch on Flight 15.
  • A reflight of a recovered ship.
  • The first Starship launch from LC-39A.
  • Falcon 9 Transporter missions disappearing from the 2029-and-later rideshare manifest.
  • A 2028 or later row in SpaceX's rideshare price feed that names Starship.
  • Any Starship option appearing on spacex.com/rideshare. That resolves the question yes.

Down

  • Repeated Starship failures or a long stand-down.
  • SpaceX confirming that Transporter missions continue on Falcon 9 into 2029 and later.
  • A 2028 row in the price feed that stays on Falcon 9.
  • Rideshare quietly discontinued.

Not counted as evidenceA $90M price for a dedicated Starship launch on a 2029 mission appeared in a customer's regulatory filing (reported Mar 2026). It is a customer filing, per launch and not per kilogram, and not on spacex.com, so it does not resolve this question.

Sources

The model, runnable →

2026-10-028 · logged 2026-10-02 · Defense

Congress passes a full-year Defense spending bill by March 31, 2027

60% · Reference classResolves 2027-03-31
Claim, falsifier, and reasoning
ClaimA regular FY2027 Department of Defense appropriations act, standalone or as a division of an omnibus or minibus, is signed into law on or before March 31, 2027.
FalsifierNo regular FY2027 Department of Defense appropriations act is signed into law by 2027-03-31 23:59 ET, per Congress.gov's public-law record. A full-year continuing resolution, or any continuing resolution extending Defense funding past March 31, 2027 without a regular act enacted by that date, resolves this false.
Reference classRegular DoD appropriations acts for FY2017-FY2026: 8 of 10 enacted by March 31 of the fiscal year (misses FY2017, enacted May 5, 2017, and FY2025, a full-year CR); adjusted down because the midterm election falls inside the current CR window.
2026-09-027 · logged 2026-09-24 · Space

Space Epoch's Yuanxingzhe-1 reaches orbit before the end of 2026

20% · Reference classResolves 2026-12-31
Claim, falsifier, and reasoning
ClaimSpace Epoch's Yuanxingzhe-1 reaches Earth orbit on or before 2026-12-31.
FalsifierNo Yuanxingzhe-1 launch places a payload or upper stage into Earth orbit completing at least one full revolution by 2026-12-31 23:59 UTC, counted from the public orbital catalog. Every attempt failing to reach orbit resolves this false. First-stage recovery is not required. Suborbital hops, static fires and transatmospheric trajectories that fall short of one revolution do not count.
Reference classFirst flights of new orbital launch vehicles, 2006-2026: 4 of 27 flew in the year first announced, and 9 of 23 maiden attempts reached orbit; adjusted up for a near-horizon restatement and for Chinese commercial debuts running above the global rate, adjusted down because the end-2026 date is already a slip from 2025 and has stood seven months without a flight.
2026-09-026 · logged 2026-09-21 · Space

Rocket Lab closes its Iridium acquisition by mid-2027

35% · Reference classResolves 2027-06-30
Claim, falsifier, and reasoning
ClaimRocket Lab completes its acquisition of Iridium Communications on or before June 30, 2027.
FalsifierNo completed closing by June 30, 2027, including termination of the merger agreement or a closing after that date.
Reference classLarge U.S. space and telecom acquisitions requiring shareholder approval, HSR clearance, and FCC license transfer, measured against their announced closing targets; adjusted up for cash component already financed and Rocket Lab's three completed 2026 acquisitions.
2026-09-025 · logged 2026-09-21 · Cross-sector

Katalyst beams power from orbit to a ground receiver by 2029

5% · Reference classResolves 2029-12-31
Claim, falsifier, and reasoning
ClaimA Katalyst spacecraft under the ASGARD program transmits power from orbit that is received and converted to electricity by a ground receiver on or before December 31, 2029.
FalsifierNo public confirmation by Dec 31, 2029 that an ASGARD spacecraft beamed power from orbit to a ground receiver that converted it to electricity. Does NOT count: launch or on-orbit assembly without ground reception, spacecraft-to-spacecraft beaming, ISS or lab demonstrations, ground-to-ground tests, or other programs (SSPIDR/Arachne, Caltech, DARPA).
Reference classFirst-of-kind in-space robotic assembly and space-to-ground power beaming demonstrations; adjusted down for Katalyst's abandoned Swift boost attempt (LINK, launched July 2026, attitude control problems) and for no published ASGARD schedule.
2026-09-024 · logged 2026-09-21 · Space

True Anomaly's GHOST-R satellite enters RG-XX service by 2029

15% · Reference classResolves 2029-12-31
Claim, falsifier, and reasoning
ClaimA True Anomaly-built GHOST-R spacecraft is accepted into operational RG-XX service on or before December 31, 2029.
FalsifierNo official confirmation that a True Anomaly GHOST-R vehicle entered operational RG-XX service by Dec 31, 2029. Launch alone, demonstrations, follow-on prototype awards, or a Northrop-only transition do not count.
Reference classDIU prototype-to-program-of-record transitions; adjusted up for explicit 'direct transition' language, down for a 2028 launch leaving about one year for demonstration and acceptance.
2026-09-023 · logged 2026-09-21 · Space

Starship deploys operational Starlink V3s in orbit by Oct 31

Resolved true · Brier 0.20Resolves 2026-10-31
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimA Starship flight reaches orbit and deploys Starlink V3 satellites intended for operational use on or before October 31, 2026.
FalsifierNo confirmed orbital insertion and deployment of operational Starlink V3 satellites from Starship by Oct 31, 2026. Suborbital flights, mass simulators, and non-operational test satellites do not count.
Reference classStarship flight outcomes 2023–2026 and first-of-type operational payload deployments; adjusted for a stated near-term launch target.
2026-09-022 · logged 2026-09-21 · Space

Starship lifts off with operational Starlink V3s by Sep 30

Resolved true · Brier 0.56Resolves 2026-09-30
Disclosure: I hold SpaceX.
Claim, falsifier, and reasoning
ClaimA Starship flight carrying Starlink V3 satellites intended for operational use lifts off on or before September 30, 2026.
FalsifierNo liftoff of a Starship carrying Starlink V3 satellites by Sep 30, 2026 (UTC). A flight without V3 satellites, or a scrub without liftoff, resolves false.
Reference classStarship launch dates publicly stated by Elon Musk or SpaceX within ~7 days of the target, 2023–2026; adjusted for the booster already rolled to the pad.
2026-09-021 · logged 2026-09-21 · Energy

Radiant finishes all five DOME test phases in 2026

45% · Reference classResolves 2026-12-31
Disclosure: I hold a position in a Radiant competitor.
Amendment · 2026-10-08 · FalsifierNo public confirmation that all five phases of the Kaleidos DOME test campaign, including the 150-hour continuous run without operator intervention, were completed on or before Dec 31, 2026.The claim requires all five phases; the falsifier as logged checked only the 150-hour run. The record as logged is unchanged and shown below. This entry is graded on the amended falsifier.
Claim, falsifier, and reasoning
ClaimRadiant completes all five phases of its Kaleidos DOME test campaign, including the 150-hour continuous run without operator intervention, on or before December 31, 2026.
FalsifierNo public confirmation that the 150-hour continuous run finished on or before Dec 31, 2026.
Reference classFirst-of-a-kind reactor power ascension schedules; adjusted for a stated Q3 2026 target, a missed July 4 criticality target, and one quarter of slip allowance.
2026-09-020 · logged 2026-09-21 · Energy

Radiant's Kaleidos goes zero-power critical by Sep 30

Resolved false · Brier 0.16Resolves 2026-09-30
Disclosure: I hold a position in a Radiant competitor.
Claim, falsifier, and reasoning
ClaimRadiant's Kaleidos microreactor achieves zero-power criticality at INL's DOME facility on or before September 30, 2026.
FalsifierNo public confirmation by Radiant, INL, or DOE that criticality occurred on or before Sep 30, 2026.
Reference classDOE-authorized reactor startups under the 2025-26 pilot and authorization pathway, time from facility arrival to criticality; adjusted for Radiant's missed July 4 target and Aug 25 DOME arrival.
2026-09-019 · logged 2026-09-21 · Space

A U.S. nuclear thermal rocket fires in space by 2032

5% · Reference classResolves 2032-12-31
Claim, falsifier, and reasoning
ClaimA nuclear thermal propulsion engine built by or for a U.S. government agency or U.S. company operates in space, with the reactor critical and heated propellant producing thrust, on or before December 31, 2032.
FalsifierNo public confirmation of an in-space nuclear thermal engine firing by Dec 31, 2032. Does NOT count: ground tests, nuclear electric propulsion (including SR-1 Freedom), surface or orbital power reactors, or a launch in which the engine never fires.
Reference classU.S. space nuclear propulsion programs 1955–2025 (Rover/NERVA, SP-100, Timberwind, Prometheus, DRACO, JETSON): none reached flight. Adjusted for current federal momentum directed to nuclear electric propulsion and surface power rather than nuclear thermal.
2026-09-018 · logged 2026-09-21 · Space

SR-1 Freedom nuclear spacecraft launches by end of 2028

10% · Reference classResolves 2028-12-31
Claim, falsifier, and reasoning
ClaimNASA's Space Reactor-1 Freedom (or a renamed successor that is NASA's fission-powered nuclear electric propulsion spacecraft to Mars) lifts off on or before December 31, 2028.
FalsifierNo liftoff with the reactor aboard by Dec 31, 2028. A launch without the reactor, a descoped non-nuclear mission, or a slip to the 2031 Mars window resolves false. Reactor startup after launch is not required.
Reference classNASA first-of-kind technology demonstrations tied to fixed planetary launch windows; adjusted down for the first U.S. space reactor since SNAP-10A (1965) with the reactor as the primary new system, adjusted up for scope limited to existing hardware (repurposed Gateway PPE).
2026-09-017 · logged 2026-09-21 · Defense

Golden Dome declared initially operational by end of 2028

60% · Reference classResolves 2028-12-31
Claim, falsifier, and reasoning
ClaimThe Department of Defense, the Office of Golden Dome for America, or U.S. Northern Command publicly declares initial operational capability (or an explicitly equivalent 'initial capability operational' status) for the Golden Dome homeland missile defense architecture on or before December 31, 2028.
FalsifierNo official declaration of IOC or explicit equivalent for the Golden Dome architecture as a whole by Dec 31, 2028. Does NOT count: activation of individual operational sites (including Fort Story, VA, announced Aug 2026), component tests, demonstrations, contract awards, or relabeling of existing systems without an architecture-level declaration.
Reference classMajor DoD programs with politically fixed IOC dates; adjusted up because Phase 1 integrates systems already in production and the declaration is administrative, adjusted down for interceptor delivery lead times and program-office delays through 2026.
2026-09-016 · logged 2026-09-21 · Cross-sector

Congress preempts state AI laws by Jan 3, 2027

10% · Reference classResolves 2027-01-03
Claim, falsifier, and reasoning
ClaimA federal statute expressly preempting, or imposing a moratorium on, state laws that regulate AI models or systems generally is signed into law before the 119th Congress ends on January 3, 2027.
FalsifierNo such statute signed by Jan 3, 2027. Does NOT count: executive orders (including EO 14365), agency rules or FCC/FTC actions, court rulings, discussion drafts, bills passing one chamber only, or sector-specific preemption (e.g., child online safety or privacy bills) that does not reach state AI laws generally.
Reference classCongressional attempts to preempt state AI laws via standalone or must-pass bills, 2025–26 (Senate stripped the OBBBA moratorium 99-1; omitted from the FY2026 NDAA); adjusted for the Obernolte–Trahan draft remaining unintroduced as of Sep 2026 and a lame-duck FY2027 NDAA as the remaining vehicle.
Who writes this
Kevin Neuburger

I am Kevin Neuburger, an angel investor in space, defense, energy and manufacturing, based in Los Angeles and working across SF, Austin and Mexico City. I write Reckoning, a biweekly brief in English and Spanish where every forecast is dated, given a probability and graded in public, and I run Ollin Intelligence, which covers the US–Mexico corridor (ollinintell.com). Previously strategy consulting at Accenture. No employer, fund, or editor sits upstream of what is published here.

Reckoning is the research I would want before putting money at risk, written down before the outcome is known.

How it is made. Every issue is written collaboratively by me and AI tools, principally Claude (Anthropic). I read every issue before it publishes and I am responsible for what it says. Every figure traces to a source listed with the issue, fetched and dated, primary wherever the number matters; a figure that could not be verified is marked unverified rather than printed. Errors are corrected in the open, with a dated note, never silently.

The Spanish edition. Every issue ships in Latin American Spanish. I edit that edition myself. Spanish is my second language, so errors can occur; the numbers, tables, and register entries are identical across editions, and a term whose Spanish usage is unsettled is flagged in a translator's note rather than decided quietly.

The written edition

Every issue, in two languages.

W1 — The Contract, and the Master Variable

Launch cost is the constraint for anyone buying launches at retail, and far less of a constraint than claimed for almost everyone else. 17 sources.

W1 — en español

Full Latin American Spanish edition with every issue. Same numbers, same tables, same register entries.