Space X IPO

[JuiceyJones]

I've seen loads of posts on X saying how unfair it is that Elon Musk is worth so much money but it's amazing how often people confuse valuations with actual money.

The human race is definitely dumbing down before our very eyes. Social media is now a disease spreading doltishness wherever it touches.

By design. Right? So much easier to click on something and watch a 30 second vid that's inline with other things you click on than maybe spending 30 minutes reading a reg statement (which in this case would show how bananas this whole thing is/was). First generation that's dumber than its parents.

Anyway, apologies - i'm moving way off topic here.

Here is Gwynee Shotwell COO of SpaceX in 2018 saying that you will be able to take a rocket to Asia from NYC by 2028 for around $2000. Starts at around 15:00 mark:

https://www.youtube.com/watch?v=Dar8P3r7GYA

Utter horseshit - but i can't tell if she believes it or not.


Regardless of how you feel about Musk or the way the IPO was forced on most people what exactly are you investing in if you have bought SpaceX?

[Euler]

I think it's a really interesting moment. You've got a company that's raised $75 billion but is valued at $2 trillion so the amount they've raised is just 3.6% of their valuation, which is pretty incredible. It's the software equivalent of vaporware.

I've seen lots of politicians claiming that they should have a wealth tax, but can you think about it? 1% on $2 trillion is $10 billion or double that if you go to 2%. Space X lost $5 billion last year. There's just a massive disconnect between the reality of how everything works and what people say.

Valuations are going to go all over the place and they may or may not be justified but you've got to let that play out. Let's say you did levy a wealth tax and it affected a company like SpaceX. Then of course you'd kill the company at birth. Nothing would happen. Nobody would invest.

All that aside. This is a massive punt in gambling terms.