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SwellJoetoday at 8:20 AM1 replyview on HN

You've used the word "inevitably". Are you sure it's inevitable? SpaceX is launching at a ridiculous valuation, has two bad businesses bolted on to one modestly successful one, and all together the revenue puts the company well behind companies with a market cap vastly smaller than what they're pricing the IPO at.

This is a ridiculous situation, a ridiculous valuation, and a very risky business (data centers in space? c'mon, be serious).


Replies

poloticstoday at 8:58 AM

More explicitly, it puts them at the same level as Kellog's, with one difference: breakfast cereals is profitable...

This is as per Patrick Boyle's https://youtu.be/IHD8BDFYyGI?si=FZ52TSEYnpJwZ1FT