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Nvidia Isn’t a Company. It’s a Country
And Each Citizen Is Worth $111 Million
George Babis
July 13, 2025
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Another week in the books — here’s what moved the needle across markets, tech, and the world of weird economics:
Spending Cuts = Political Suicide? Both Elon Musk and UK Treasury chief Rachel Reeves tried to rein in spending — and both got roasted. Markets say: deficits are here to stay.
Substack Just Outranked the WSJ: In June, Substack pulled more U.S. web traffic than The Wall Street Journal or CBS. The newsletter flywheel is spinning faster than ever.
Lucid’s EV Drove 749 Miles on One Charge: That’s a Guinness World Record — and over 100 miles more than the previous best. Long road trips just got way more electric.
Cava’s Winning the Gourmet Lunch Wars: While Sweetgreen struggles, Cava is scaling fast — robot kitchens, new menus, and a $10B+ valuation are driving the slop bowl crown.
Nvidia’s Market Cap Per Employee? $111 Million: With just 36,000 staff, Nvidia’s value per worker is higher than any big tech peer. Lean, mean, trillion-dollar machine.
Fiscal Fixers Get Burned
Tesla’s $TSLA ( ▲ 1.18% ) Elon Musk and UK Treasury chief Rachel Reeves had one thing in common: they were both hired to slash government spending… and both got publicly scorched. 🔥
Musk’s stint running Trump’s DOGE agency sparked a Tesla rally — until political drama sent shares down 14%. Reeves vowed to fix Britain’s finances but got iced by her PM in Parliament, pushing UK bond yields higher.
Macro pro Jon Turek says the takeaway is clear: no one actually wants fiscal discipline. Governments are still spending, deficits are still climbing, and those trying to stop it? Politically toast. 🍞📉
Yield curves are likely to steepen — cuts may come, but long-term borrowing costs will stay elevated.
Substack > WSJ? It Just Happened
In June, Substack clocked 73.9 million US site visits — beating The Wall Street Journal and CBS News for the first time ever. 😳✍️
The newsletter platform, once just a creator playground, is now a major news destination. From business and tech to culture and niche obsessions, readers are flocking in — even without counting custom domains like Matthew Yglesias’ slowboring.com.
It’s a flywheel: top writers bring big audiences → that draws more writers → which draws even more eyeballs. And with 88% growth last year, the stack is rising fast. 🔥📬
749 Miles. One Charge. No Joke
California-based Lucid just cruised into the record books — its $110K Air Grand Touring EV went 749 miles on a single charge, breaking the Guinness World Record. 🏆🔋
The epic trip? From snowy St. Moritz in Switzerland to sunny Munich, putting Lucid a full 100 miles ahead of the previous EV record set by Mercedes-Benz. 🇨🇭🚗🇩🇪
But let’s pump the brakes: gas still wins the long game. The top distance on one tank? A Škoda Superb clocking 1,759 miles. 🛢️🥇
Still, for EVs — this was a milestone worth flexing.
Sad Desk Lunch Goes Gourmet — and Robotic
Chipotle $CMG ( ▼ 0.73% ) built a $77B empire off burrito bowls. Now Cava $CAVA ( ▲ 0.66% ) and Sweetgreen $SG ( ▼ 0.51% ) are fighting for the “premium slop bowl” crown. 🥙🥗
Cava’s winning for now — with 382 stores, a $10B+ valuation, and a clear path to 1,000 locations by 2032. Sweetgreen? Still deep in the red, losing $28.5M last quarter, and seeing same-store sales drop.
Both chains are going full sci-fi: robot kitchens, steak menus, and $16 salads aimed at office dwellers. But with growth slowing and margins thin, investors are asking: have we hit peak slop bowl?
Nvidia Just Made Small Towns Look Cheap
With just 36,000 employees, Nvidia $NVDA ( ▲ 0.5% ) has become the first public company to hit a $4 trillion market cap — meaning Wall Street now values each worker at a jaw-dropping $111 million. 🧠💸
For perspective, that’s like turning a town the size of Westerville, Ohio into the economic engine of the century. Nvidia’s growth, margins, and scale? Unmatched. Its valuation per employee even beats lean darlings like Palantir $PLTR ( ▼ 0.28% ) . 🤯
Sure, it’s not how you should value a company — but it’s a flashy stat for what might be the most capital-efficient org on Earth.