This is a most excellent place for technology news and articles.
All the analysts at the beginning were shouting that the IPO was overvalued.
Making outrageous promises and failing to deliver is Elon Musk's brand.
If you have money to invest, and you lost it in SpaceX without doing your due research, I have no sympathy for you.
(I have no money to invest. I was just following SpaceX and Musk's dubious trillionaire status. He's still, way, way too rich.)
What else would you expect trying to make a company that barely makes anything command a trillion dollar evaluation.
Their valuation was made based on the potential for every company to be using the product. No other companies outside of Musk-owned ones are valued that way. Many are valued on the average of a few years of revenue multiplied by 10.
It is blatant corruption and market manipulation. Anybody investing in such a company should expect to be holding bags within 24 hours.
Indeed, someone with a deep fanaticism for Musk posted exactly that scenario as inevitable. This was to stand by his man when Musk asserted that SpaceX should be worth more than everything else on earth combined (he was pissed that spcx had fallen).
The dude claimed that by 2038 the 20 biggest companies would all be entirely space based exclusively, and that globally SpaceX would be the sole provider of space technology and the other 19 companies would be tenants of SpaceX. It all made sense to him because space is bigger than earth, right?
I can't find it, but among the usual suspects (space mining, space datacenters, terra forming), I was especially amused that his hypothetical "space banking company", because for some reason the financials of space companies needed to be managed by a company that could get stuff launched into space?
nachos?
Nacho money.
Just a note: the same people who predicted this would happen are the same predicting the AI bubble bursting.
well, it is the same prediction. SpaceX IPOed as an AI company mostly
As ridiculous as that sounds, it is true
Which is amazing because it's somewhere between 4th and 15th place in the LLM race. Let's say you really believe in a winner-takes-all scenario for AI where the winner gets to monetize harder than Google... Why would you invest in SpaceX? I don't understand the scenario in which SpaceX makes loads of money off of AI. Maybe with space datacenters, assuming that's even possible? But if that's the plan, why spend lots of money training their own model rather than renting out racks of GPUs?
"Funny, I thought trendy stocks always went up quickly."
Americans and their obsession with making free money...
Awww. Poor fuckwits bought into a nazi-run company.
I'm sorry they didn't lose more.
But aren't some of these guys fund managers with our retirement money?
Love it. Hope Tesla's next and his house of cards collapses as all the debt leveraged on his Tesla shares comes calling.
The stock market is gambling.
“SpaceX gamblers in meltdown over not having a winning bet.”
Yeah, they WISH it were like gambling...but it is fraud, insider trading and stock manipulation.
What about that orbital data center (a.k.a. "Mikoshi") idea btw? How is that feasible?! Do they want to drop all those shiny valuable RAMs and GPUs into the satellite graveyard when those satellites have worn out? Well, maybe the oceanic life can build new kinds of riffs with it. 🥲
/edit: riffs should be reefs
Fools and their money are easily parted.
Seriously WTF did they expect????
That's what you get for gambling.
Investors really are just a bunch of toddlers with no memory, no critical thinking skills, and no real skills at all, actually.
If you lost money investing in Musk, I not only have no sympathy but I’m actually going to laugh at you for as long as I have air in my lungs. This, in between my sadness for the lost mkney that could have been used productively to help people.
Since this snuck into a bunch of folks index funds a whole lot of people just paid Elon musk.
Hey guys don't worry! It's not a loss of all your money, just like it wasn't a full on Nazi salute.
I have no fucking idea of investing and knew it would go down quick, even the news said it since the company has no earnings, how the heck did they not? What were they thinking?
Il just repost that here...