In the midst of the ever-expanding empire of Elon Musk, it’s easy to feel like his influence is impossible to escape. From his electric cars to his space-faring rockets, his presence is ubiquitous. Now, picture him setting his sights on your very own hometown.
Bastrop, Texas, a small historic town near Austin, with a population of around 12,000, has found itself at the heart of Musk’s growing empire. Companies like Starlink and Boring Company are already operating within its limits, with Tesla and Neuralink in the vicinity. Soon, Musk’s company that was once Twitter will establish its new headquarters there, urging over 100 X employees in Austin to make the move to the quaint town.
To capture the essence of Bastrop’s transformation, my colleague Jessica Mathews delved deep into the peculiar changes unfolding for our latest Fortune issue, where Musk reigns supreme as the Most Powerful Person in Business. She uncovered a range of oddities, from a Tesla-filled Buc-ee’s parking lot to a Musk-owned Montessori school, all while speaking with locals trying to wrap their heads around the sudden encroachment into their cowboy town.
Venture Deals:
- The Exploration Company, a Munich-based cargo delivery space capsule developer, secured $160 million in Series B funding led by Balderton Capital and Plural.
- Vaulted Deep, a Houston-based biomass carbon removal and storage company, raised $32.3 million in Series A funding with Prelude Ventures as the lead investor.
Private Equity:
- Anacacia Capital acquired the majority stake in Florabelle Living, a Sydney-based homewares company.
- General Atlantic acquired a minority stake in Ecore, a Pennsylvania-based rubber circularity company.
Exits:
- General Mills agreed to acquire the North American pet business of Whitebridge Pet Brands from NXMH for $1.45 billion.
- Vinci Concessions and At noon purchased a stake in HIGH SCHOOL, a Bordeaux-based high-speed rail infrastructure management company.
Other:
- Flex acquired JetCool Technologies, a provider of liquid cooling technology for data centers.
IPOS:
- Pony AI, a Chinese autonomous vehicle systems developer, plans to raise $195 million in an offering on the Nasdaq.
As Bastrop grapples with the uncertainty of Musk’s growing influence, the town remains at the edge of transformation, balancing the benefits and drawbacks of his burgeoning presence. While Musk’s companies have made strides to engage with and invest in the community, residents are left wondering about the impact of this new era on their small town.
In the face of rising home prices and environmental concerns over industrial development, the people of Bastrop reflect a wide range of emotions towards Musk’s arrival. As they hold their breath, waiting to see what the future holds, the town’s unique character remains unchanged amidst the growing influence of Musk’s empire.
Before we get lost in Musk’s far-reaching endeavors, perhaps we should pay more attention to the local news that affects us on a more immediate level. While Bastrop navigates the influx of Musk’s companies, the town’s charm and personality endure, promising a future as unique as its past. Transitioning into this new era, Bastrop is set to become a microcosm of change in the shadow of Elon Musk’s vast and evolving world.
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