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A company that relies almost exclusively on government contracts.

I mean SpaceX is the biggest launch provider in the world? Even discounting Starlink they launch a huge amount of mass every year. Everything from normal communications to GPS satellites and almost uncountable small sats. Overvalued by a lot it certainly is, but "doesn't do anything" is laughable.

Oh we’re about to experience the mother of all market crashes aren’t we?

When capital matters more than production or distribution...

When thia crashes retirement funds in like 15 years it'll just be yet another way the Millennials get boned.

It’s not even profitable…

He may never leave this earth and it will be affirming to see him gasping for breath along with the rest of us. We need women in governance for a survivable future.

Don’t worry, it’s different this time.

Considering the leaders competing for bragging rights this is essentially a rematch of a pickleball tournament on Little St James

This is Seinfeld episode bullshit "Jerry, I've got an idea for a company!" "OK George what does your company do?" "nothing." "nothing!?" "NOTHING!"

"You're gonna be soooo mad when you get left off the spaceship taking all the rich incels to another Earth... you know, once we figure out how to prevent everyone from dying solar radiation cancer. It's probably 2 months away like Elon says"

That's not fair, they talk about doing a great number of things

They explode rockets in the Everglades

PonziX

Look folks I understand having a beef with Elon but SpaceX brought the price of satellite launches down by an order of magnitude, has federal contracts, and powers Starlink… let’s be real

What do you mean? They blow up rockets and provide consistent losses to give Musk's other ventures tax write-offs.

Imaginary market value. Just like crypto - it's all made up to enrich the few

A beanie baby backed currency economy

It’s like a giant societal gas leak.

Maybe we need to speculate the ultra wealthy into poverty

that's just what i needed to hear, i am now ready to hand my life savings to a murderous nazi, no i do not need to see a business prospectus, here you go

SpaceX is the US *only* American rocket to send people to the space station. SpaceX is currently the US' *only* dependable heavy lift launcher. ULA and Blue Origin are not allowed to currently launch military satellites. Elon belongs in jail,but do some homework before you make dumb claims.

xAI is essentially a furnace for money. And THIS is the part of the company they claim will provide 80%+ of their value in the future. SpaceX doesn’t make THAT much money. They aren’t worth their current valuation by any stretch of imagination. Their entire valuation rides on Elon hype (2/x)

their exploding rockets do bring me some joy i have to say

"We don't want to be one of those single-planet species; we want to be a multi-planet species" 🤡🤡🤡

My boss just bought a bunch of it because he thinks it can only go up. I think it's like the only stock he has. Unfortunately he will be left holding everyone else's bag.

they should replace the c in their name with an s then they could actually provide a useful service

Starlink is the only thing bringing them money right now outside of government contracts.

The aerospace nerd in me really wants to say yes, but now I fear pretty much all of its immensely useful contributions to spaceflight and useful services like Starlink will either be eventually enshittified to oblivion or halted entirely to focus mainly on AI that generates lewd pics of children ig.

What they've done is allow people with lots of money they can't really spend and turn it into a higher amount of money they can't really spend.

The valuation is coming from data centers and AI speculation. Google, who also had/has a stake in SpaceX, entered a lease that could pay SpaceX 900 some odd million a month right before the IPO. It does have a 90 day early termination clause so maybe short term deal with headlines that make money.

They do occasionally launch NASA spacecraft, such as the Europa Clipper currently en route to Jupiter, so they do occasionally add value to life (or at least mine). Not that that outweighs even a fraction of the damage they cause. Clipper didn't need Falcon Heavy, it was just the cheapest.

they tell me grok is in there

It's not as good as actual wired Internet because of the shared bandwidth issue but for rural areas it's fine.

certainly not at a profit they don't

Well Starlink potentially has value in terms of surveillance and information control - two other growth industries 👍

It's basically doing Keynesianism but instead of digging holes it's blowing up rockets and expensive launch infrastructure

Particularly when/if he gets competition from Bezos and the continued issues with satellite constellations.

Yeah, Starlink is the only part consistently bringing in money right now There launch program should be able to make money once they finally get Starship working. Honestly looks like they tried for too much at once But most the valuation is based on XAI and that is all wild speculation

But what Musk and Bezos are doing is attempting to control access to the internet by creating a monopoly in space. Once that happens, just like streaming services, the price climbs through the roof for access. We are back to the drug trafficking/porn online model. Get you hooked cheaply.

i think space is cool but it doesn't keep the gas prices down

without grok/spacex where could we get a picture of a woman smiling

Denaturalization, designation as a sponsor of terrorism (USAID cuts), clean this thing up in a matter of weeks under the right government

The irony that people’s resentment over the Resi mortgage bubble, the devestation it caused when it burst, and the govts response to it all helped drive the elections of the people in power today, and who are fully cheerleading this present bubble, should not be lost in this discussion.

Is the Economy About to Crash? youtu.be/5h4C2vBMEnk

Polymarket starts betting on the specific date and time the American economy crashes and burns forever.

We were already there when Nvidia was massively inflated by LLM speculation. 😮‍💨

Its gonna be a great recession. The wrong people lose confidence and the house of cards detonates

Also known as a Grift Market

We have been since the stock market began.

I mean…it kinda always has been

It reminds me of the South Park episode Go Fund Yourself. They only exist to get peoples money youtu.be/nmSUiRxut4c

SpaceX is the backbone of the NSO and NRO at this point. Using Starlink is basically inviting the CIA into your home. So they are doing a lot of something, just nothing that should be done in a rational society

We all have an employee like that at our workplaces

Ugh, which means they will probably get a bailout

It's socialism for the oligarchs. They claim that unproductive workers take from them in the form of taxes, but really the rank and file are the only ones doing anything productive, while Elon nazi-posts on twitter all day.

SpaceX blows up rockets

Sign of a dying economy.

Well, they do do one thing; they make rockets blow up real well.

At some point there will be a market crash bigger than the one we had in 1929. We need serious reform, this is just gambling writ large.

What do you mean "doesn't really do anything at all?" They blow up SO MANY rockets on like a weekly basis.

Market value? That is made-up shit. Monopoly money. Complete bollocks and totally meaningless. Just another trick to never ever having to use your own money to buy anything. Just watch that old Gregory Peck movie ‘The million pound note’.

@elizabethbsf.bsky.social ACME

It’s what’s known as a bubble.

They expensive shit explode wdym? Oh sorry, make expensive shit unscheduled rapid disassemble

Yeah, but what does Paul Krugman know about economics?

The Seinfeld economy.

we got a preview of all of this elon payed people to SAY he was the best at video games, even though he's genuinely awful at them it's the same here while other billionaires are at each other's throats, he's just rigging the system so the leaderboard says he has the high score beyond pathetic

I mean apart from being the launch vehicle of choice for NASA and dozens of private companies as well as independent researchers desiring access to LEO...I guess?

So how they make money is they launch rockets. One of the hardest thing in the world to do. How is anyone believing this valuation.

genuinely i havent heard a word out of spacex since 2024

But servers in space despite the pesky problem of the vacuum of space and debris

I mean, they do blow up expensive shit.

Exactly, no value to anyone at all.

Wheat futures are going up. They will never go down!

Hey now. Grok is making waves in inflicting psychosis and producing CSAM

SpaceX just stages the world’s most expensive fireworks displays

They are a pretty good firework company, though... :P

Ehh, Starlink is an actual good service

*Seinfeld bass riff*

say what you will about microsoft, but i at least have some of their products open right now

Hey hey! They don’t do *nothing* they make rockets that explode on the launchpad thank you very much!

Space X does do some decent fireworks shows occasionally

and we are giving Elon more wealth wonderfull

Those exploding rockets are extremely valuable!!!

Jubilee’s show SURROUNDED is CASTING in Los Angeles, July 11–12. Looking for: ⚫️ Progressives & Leftists ⚪️ Boomers (Republicans & Old-School Democrats) 🔴 Black Liberals & Progressives 18+. LA-based. Apply: airtable.com/applxtviF2gB...

once you’re doing all your banking on x the everything app you’ll see

Hey, some times it blows up really expensive rockets.

well, not "profitable" in a strictest sense.

I also think it is bonkers that anyone uses valuation of 5% of shares as an extrapolation of the value of 100% of shares given that on 5% is available for purchase and the value would be lower if they had kept the minimum float rules. TLDR: fake ass bollocks.

If they overtake Apple and Nvidia, the first being a company that makes things a bunch of people own, and the second being the shovel makers for SpaceX’s gold based valuation, then we have entered peak stupid economy.

And what has SpaceX “done for us lately?” 🎶 Que Janet Jackson. 😼

Keep in mind this valuation is entirely based on suckers trading a fraction of 5% of the shares of a company, shares which have less rights attached to them than Elon’s shares. It’s entirely fake.

Sometimes even Grok can be inconveniently honest about the terrible ideas. I don’t use it myself but like screencaps

They definitely do something (explode rockets)

At least now that the company is public launching new satellites without corresponding new subscribers will be seen as a negative thing. As for anything else in space, well, it doesn’t make money, it is all very expensive and there is no revenue.

Who will win: a company that does nothing. Or a company thats trying to make everyone do nothing?

I think about that a lot about the guy who made bank on "The Big Short" then lost a ton betting against Tesla and threw his hands up saying "the market isn't rational."

Doesn’t do anything? Like it’s nothing to drag home those bags of government money? Someone has to count all that, buddy. Have some respect!

Or that one of its handlers was given full permission to gut parts of a government it wasn't a part of

like this is fucking nuts and i don't like it but spacex does do like. real stuff. they should be nationalized imo