How is this even debatable.
How is this even debatable.
Even if the Star Trek utopian future materialises, it is very likely to be a long time from now.
1. SpaceX has competitors. Most are making reusable rockets.
2. SpaceX has no moat.
3. The concept of money itself might change dramatical by the time SpaceX becomes a multi-planetary mega corporation. Investing now may not return returns in any meaningful sense.
True, and that's exactly the reason why people want to buy this stock now.
If future returns were already (almost) certain, they would have been priced in and you couldn't make any money with this stock.
This is a classic high risk / high reward stock. IF the space economy takes off you might 10X your investment. If it doesn't, you might lose most of it.
Rich people (who own most of the stock market) can afford to make such high risk bets, because they can afford to lose the money and thus many will make that bet.
And Starlink is a pretty big deal, particularly in a time of conflict where undersea cables are very vulnerable.
If Elon hadn't shifted so far to the right, these threads would be near-universally praising SpaceX despite Starship's struggles.
Starship is meant to answer all those questions about design intent and financial viability and then some. It could readily turn out to be an example of second system syndrome.
A symptom of his fickle nature and erratic behavior, as well as general poor impulse control, all of which rightfully make people skittish with their money and question his judgment.
He had period where he though he can become hero for the democrats due to green cars. It did not worked, neither democrats nor left accepted him as unconditional hero.
The racism, the villingness to cause harm to get more power for himself were there whole time. He was far right the whole time, just became more extreme and open when it stopped being disadvantage.
Especially now that every failure results in a massive wave of negative publicity
It doesn't matter if it's successful or not. Their space business is worth virtually nothing on paper and the funding structures and profit/loss accounts are scary.
The unfortunate thing is, a lot of people have no idea this rule change has gone into effect, and that they're about to get fleeced by a bunch of professional investors.
https://www.kiplinger.com/investing/what-the-nasdaqs-new-fas...
It's legalized theft, and the victims are people least able to defend themselves from it. Most people have no idea what's in their retirement accounts, or track very closely what's being tracked by the index funds they've been told for decades was the safest way to invest in the stock market for non-pros.
Their skepticism seems pretty valid to me
In other words, look one level deeper and you'll see it's not the S&P500 that's overvalued. It's you and me and 100 million other people desperately attempting to make sure young people pay for them for 20-30 years when they're old.
And then you calculate it out ... and see it's not happening. No matter what the number on the account says.
I don't think it is similar therefore.
Imagine in 2010 if investors had real transparency into how much money YouTube or Maps was losing, along with the governance structures to enforce their concerns.
You’re calling it “political motivation” as some sort of blind hate or vendetta out of principle, cutting off the nose to spite the face. But you can no longer separate Musk from politics and aggression towards Denmark.
The pension fund’s assessment looks entirely valid, objective and justifiable to me. But for anyone who personally favors Musk and his political views any dismissal will look politically motivated. It’s easy to cry foul. In this light your shallow dismissal might be just as politically motivated.