It's a bedrock foundation of the entire financial and legal world. Public and private alike. Refer SEC Rule 10b-5 as well as Private Placement Memorandum (PPM). For example, Theranos never filed an S1 but still was convicted.
Also this is being released under Trump’s SEC, who knows whether being caught lying in an S-1 matters any more.
Personally, I do expect SpaceX to face consequences in the years to come.
Why?
Probably only and only when AOC or someone else from Bernie's camp gets to be president. Otherwise, unlikely.
Trump is the swamp.
1. The current president has shown no hesitation about pardoning anybody he owes a favor to or feels allegiance from.
2. SCOTUS has give the office of the president basic blanket authority to do anything and everything under the sun for "official acts".
3. Half of our two-party system has abdicated all oversight powers for the current administration.
When you combine those 3 things, it's hard to imagine how somebody like Trump or Elon could possibly face federal consequences. Hell, Trump could say he launched his shitcoin "as an official act to help prop up the failing Biden economy" and I don't imagine SCOTUS or anyone else would push back much.
I really would love to figure out when we phase shifted into this mode, maybe it was always like this, I'm frankly too young to have anything else to compare to.
Under the idea that 'you can make numbers say anything you want' you could very easily justify almost any number as a potential market as long as you include the conditions or stated it in a way to be circumspect.
> a hat larger than the 2023 US GDP
Would be more accurate to mention the entire world GDP to support that argument. Then the issue is raised as far as what time period they are referring to. Current year? Future years?
For context SpaceX's TAM is lower than Anthropic's expected TAM