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notahackertoday at 8:45 AM1 replyview on HN

All share price fundamentals based on the long term have this pesky thing called discount rate which means your [hypothetical] earnings from something expected to happen in 2050 get weighted a lot lower than your 2028 earnings and your 2100 earnings barely figure in it at all though.

That's the case on a pure "I could invest my money in something that makes a bigger profit now, and use that money to buy shares in the longer term bet afterwards" basis, but is even more the case when you factor in uncertainty. And "SpaceX's 2026 near monopoly of launch and the 2026 datacentre build rush will still be relevant once we're far enough into the future for inference chips to not need regular replacement and orbital megastructures to be cost competitive with ground ones due to the amount of orbital recycling going on" is pretty uncertain...


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philipallstartoday at 9:29 AM

I doubt anyone is doing earnings analysis 75 years out. It'll be "this is our best guess of the size of the market over time, and here's what percentage of the market SpaceX will get, factoring in the US taxpayer being a large funder of space and preferring a local company."

The large variance is in the projected market size, but I can see why people might be optimistic. Especially given SpaceX's success in Falcon 9 launches, gradually stealing stats away from the record-holders, who have been mostly Russia/USSR-based[0].

[0] https://spacestatsonline.com/rockets/most-launched-rockets

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