I think this was expected, no? SpaceX has been resisting going public for a long time for this reason, because they didn’t want the company to fall into focusing on quarterly profits over engineering like Boeing. So the only way they would go public is if Musk/SpaceX retains control of the company’s direction after.
JapariParkRanger on
Honestly a good thing, though the IPO itself is…. disappointing to hear about. As a spaceflight enthusiast, the last thing I want to hear from SpaceX is public investors exhibiting pressure to reduce investment in new systems like Starship and increase focus on revenues and profits. If Musk is taking SpaceX public, at least it might be in a way that minimizes the chance these distractions could destroy the company’s momentum in favor of short term gains.
Let’s hope the AI distraction doesn’t do that anyway. I just want to see more cool rockets go up.
Adeldor on
Edit: These general Reddit groups are becoming ever more irrational. I’m being downvoted for stating a historical fact (below the line). Is it because I committed the unpardonable sin of writing the word „Musk“?
——
This is not news. Musk has always stated that he’ll maintain control over SpaceX to prevent the loss of focus on long term, profitably questionable goals that might come with majority public control.
Rattus_NorvegicUwUs on
It’s incredible how this man went from a national hero to just another sleezy billionaire.
It’s such a damn shame, I feel betrayed by how hard I fought for this man. Just to be shown I was a fool.
No-Computer7653 on
$1.75t lol. For reference the $1.7t cap Tesla has is considered extremely overvalued and not connected to their revenue potential at all. Walmart has a cap of $1t. The revenue potential of SpaceX is very significantly less than Tesla.
SpaceX has $16b in revenue, Tesla $95b and Walmart $715b.
It’s going to be fun when SEC starts functioning again.
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I think this was expected, no? SpaceX has been resisting going public for a long time for this reason, because they didn’t want the company to fall into focusing on quarterly profits over engineering like Boeing. So the only way they would go public is if Musk/SpaceX retains control of the company’s direction after.
Honestly a good thing, though the IPO itself is…. disappointing to hear about. As a spaceflight enthusiast, the last thing I want to hear from SpaceX is public investors exhibiting pressure to reduce investment in new systems like Starship and increase focus on revenues and profits. If Musk is taking SpaceX public, at least it might be in a way that minimizes the chance these distractions could destroy the company’s momentum in favor of short term gains.
Let’s hope the AI distraction doesn’t do that anyway. I just want to see more cool rockets go up.
Edit: These general Reddit groups are becoming ever more irrational. I’m being downvoted for stating a historical fact (below the line). Is it because I committed the unpardonable sin of writing the word „Musk“?
——
This is not news. Musk has always stated that he’ll maintain control over SpaceX to prevent the loss of focus on long term, profitably questionable goals that might come with majority public control.
It’s incredible how this man went from a national hero to just another sleezy billionaire.
It’s such a damn shame, I feel betrayed by how hard I fought for this man. Just to be shown I was a fool.
$1.75t lol. For reference the $1.7t cap Tesla has is considered extremely overvalued and not connected to their revenue potential at all. Walmart has a cap of $1t. The revenue potential of SpaceX is very significantly less than Tesla.
SpaceX has $16b in revenue, Tesla $95b and Walmart $715b.
It’s going to be fun when SEC starts functioning again.