It’s worth less than half of zero. They don’t make money. They can’t make money, since they decided to gobble up Musk’s other money-losing companies. Why the hell is it still called Space X when their primary concern is LLMs and rage bait?
His shitty ai company (xAI) bought Twitter in a huge bullshit valuation, then SpaceX bought xAI in a huge bullshit valuation. Both companies have only ever lost gobs of money under his control. And now that SpaceX has filed to IPO, we’ve seen that not even SpaceX was ever profitable, even before being saddled with two loser, completely-unrelated companies.
Mark my words, this Frankenstein SpaceX will IPO and be propped up by instant inclusion in the S&P 500, then get bought by Tesla (his only profitable company, for now) and that will be called the “biggest merger in history”. This will trigger Musk’s trillion-dollar pay package, which dilutes Tesla stock and gives him majority control, leaving investors holding stock that is now worth much less. So, he’ll end up with this big mess of a company called Tesla and have fleeced every person with a 401(k), IRA, or pension to the tune of a trillion dollars. This will all happen within a year, sooner if possible to avoid scrutiny from a possibly Blue congress.
Musk needs to move fast enough. You can see the AI bubble pop on the horizon, so it’s move now so there is enough time to cash out. And Musk figured out that selling hype is much easier than actually making a product, so now he’s all in on hype. Most of the IPO documentation are glossy pictures and pieces of text ripped from some sci-fi fanfiction. But that is enough to attract attention, and with that comes some money, and where there is money more people with more money follow.
It’s worth less than half of zero. They don’t make money. They can’t make money, since they decided to gobble up Musk’s other money-losing companies. Why the hell is it still called Space X when their primary concern is LLMs and rage bait?
Wait, what happened? I thought SpaceX was about, well, space hardware.
His shitty ai company (xAI) bought Twitter in a huge bullshit valuation, then SpaceX bought xAI in a huge bullshit valuation. Both companies have only ever lost gobs of money under his control. And now that SpaceX has filed to IPO, we’ve seen that not even SpaceX was ever profitable, even before being saddled with two loser, completely-unrelated companies.
Mark my words, this Frankenstein SpaceX will IPO and be propped up by instant inclusion in the S&P 500, then get bought by Tesla (his only profitable company, for now) and that will be called the “biggest merger in history”. This will trigger Musk’s trillion-dollar pay package, which dilutes Tesla stock and gives him majority control, leaving investors holding stock that is now worth much less. So, he’ll end up with this big mess of a company called Tesla and have fleeced every person with a 401(k), IRA, or pension to the tune of a trillion dollars. This will all happen within a year, sooner if possible to avoid scrutiny from a possibly Blue congress.
Musk needs to move fast enough. You can see the AI bubble pop on the horizon, so it’s move now so there is enough time to cash out. And Musk figured out that selling hype is much easier than actually making a product, so now he’s all in on hype. Most of the IPO documentation are glossy pictures and pieces of text ripped from some sci-fi fanfiction. But that is enough to attract attention, and with that comes some money, and where there is money more people with more money follow.
It was until musk decided to turn it into a clearing house for his failing businesses.
It used to be, and their satellite internet is actually really good product in fact.