This is the usual fleecing of the retail investors by the institutional sponsors.
The only people surprised are the retail investors.
Just imagine how many problems 600bn USD would solve. Instead, it’s just fake virtual currency flowing through the hands of a few billionaires
They could probably just about clean a small pond for that amount of money.
Sure would be nice to have some food, affordable housing, and healthcare…
Get out of here, fracking lazy SOCIALIST!! 😡
Y’all just need to pull yourself up by the bootstraps
They keep going around trying to make the world a better place. Awful hateful people.
Down 6%.
The line wiggled a bit.
Well, and 5% the day before, and likely another 10% by the time it shakes out.
Morningstar puts the price at $62/share, so that’s a possibility there.
I think you mean PLUNGED or DECIMATED!
/s
Also I’m sick of these words in titles. As you said it’s barely a ripple overall.
TBi slams sensationalist headlines!
The valuation of the stock is based on Musk doing what he’s always done, which is making seemingly impossible promises sometime in the future.
You know what he promised by 2025? A fleet of driverless Tesla taxis. xAI producing the first AGI. A human being on Mars planting a flag.
You know what the evaluation of SpaceX is based on? The promise of a Mars colony with one million human inhabitants, and space-based data centers. It’s going to be decades before it’s worth the IPO, if ever.
In the meantime SpaceX is in debt 20 billion, and is bleeding money. It lost $4.94 billion in 2025.
So it looks to me like a private equity project. Like Toys 'R Us or Radio Shack or Claire’s. Remember those?
And Nasdaq-100 is fast-tracking SpaceX into its portfolio after 15 days. Soon, pension funds and 401(k)s are going to feature SpaceX stocks. So when it does implode, a lot of worker-class folk are going to eat the loss.
You know who I bet will not be eating the loss? Trillionaire Elon Musk.
For all his false promises: https://elonmusk.today/
Looks like the webmaster (do people still use that word?) is asleep at the wheel there.
Last update 266 days ago.
My favorite part about data centers in space is it may actually be impossible from a physics standpoint to build the heat radiators large enough for even a small one. Even though space is cold and would seem to make sense, it is also a destructive vacuum and to radiate even a small amount of heat outside of a shielded core would take a huge array of radiators
No, it’s totally possible. Not with any technology we’ve ever built, maybe not with any technology we can build, but physics doesn’t preclude it outright.
Your point still stands though. It’s a promise that’s impossible to meet within the lifetime of the investors.
It’s possible, but not economical.
For basically any “space datacenter” scenario, imagine putting that same thing in a vast desert instead. You’ll find it’s easier and an order of magnitude cheaper.
Yeah, maybe not impossible, but I mean extremely unlikely. I found a thread on reddit that had examples and a spreadsheet https://www.reddit.com/r/IsaacArthur/comments/11kp7s4/how_large_of_a_heatradiator_would_a_spacecraft/
To run a data center in space you would need some kind of reactor producing around 100 MW. If rejecting 100 MW at 800 K
A= 100,000,000 / 0.85×5.670374419e−8×800
The number is the Stefan-Boltzmann constant (σ) https://physics.knox.edu/OnlineHW/zTest-PhysicalConstants.html
A≈5,065 m²
So roughly:
5,100 m² of radiating surface
That is a square about:
√(5065) ≈71 m per side
If it is a double-sided radiator panel, the physical panel area could be about half:
2,530 m² of panel, about 50 m × 50 m, assuming both sides radiate effectively.
Also temperature matters enormously so
At emissivity 0.85:
Radiator temp Area for 100 MW 300 K ~256,000 m² 500 K ~33,200 m² 800 K ~5,100 m² So the answer is about 5,000 m² (lol this is like “a football field” on each side) at 800 K, but balloons to absurd levels like hundreds of thousands of m² if you are trying to dump room-temperature waste heat which there would be a significant amount of. That is for a single small data center at current power needs. In the US alone data centers use 176 TWh (https://www.congress.gov/crs-product/R48646), so there is no chance we are going to be migrating a significant portion of it into space.
Soon, pension funds and 401(k)s are going to feature SpaceX stocks.
Not mine. I’m selling my NASDAQ index fund next week. Thankfully the S&P said no.
Elon musk also made seemingly impossible promises for Tesla and their stock price, and he exceeded them.
What technology promise did he make that he kept?
His promise of self-driving cars turned into a huge pile of accidents, especially since he insisted (still insists) that autopilot operate on a single sensor. Waymo uses five.
It’s not like his companies did nothing. Getting his launch vehicles to land safely, vertically, was way cool, but a small step on the way to space colonies or space tourism.
He promised to get teslas share price and sales figures etc to a seemingly impossible level, and he exceeded it which is why he was then due his gigantic pay packet that the courts then ridiculously blocked. You guys are doing the same thing to SpaceX as you did for Tesla, and the results will be the same - you’ll look foolish.
FSD on Teslas is insane. It’s demonstrably safer than real drivers. It doesn’t use a single sensor, it uses a single type of sensor, which has proven to be more than good enough.
Calling reusable self landing rockets a “small step” is beyond a joke. It’s probably the single biggest innovation in space travel since space travel has been a thing.
He didn’t deliver on any promise except the stock price itself that’s pumped up by lies and idiots believing in it.
That was the main promise lol
Jesus Christ thank you for reminding me to confirm I keep his shit as far away from my pension as possible. Thankfully I’m in Canada so I feel there’s a hope
Narrator: He was wrong.
Former world’s first trillionaire
The other day I made a comment on the original IPO post saying that he isn’t a trillionaire because the IPO isn’t promising anything and got argued with about it.
Even Goldman Sachs was saying the IPO was ridiculous.
Everyone involved in this entire affair was an idiot. XAI has absolutely no product to speak of, where’s the valuation coming from?
But you have to understand, if we regulated these people, THEY WOULD LEAVE! then what would we do?
OH THE HUMANITY! WHAT WOULD WE DO WITHOUT THE BILLIONAIRES!!?!
Interestingly enough enough places in the world have attempted to tax billionaires that we do have some data. For the most part they don’t leave.
They can afford the tax anyway, and really the whole point of money, as far as their concerned, is to just throw it at people to solve problems for them. They don’t want to pay extra tax on principle because they don’t think other people should get their money, but they also don’t actually care enough to go to the effort to leaving.
Besides where would they go?
Once again, wealth trickles up to the billionaires.
Capitalism! Gotta love it, or not.
I choose ‘not’
I get it. I have a uniquely shaped rock that I found in a ditch. I value that thing at about 530 billion dollars. /s
Does it repel tigers?
Only under water
I will buy this rock.
Absolutely!!
Then I don’t want it. I want to attract tigers.
xAI buried inside SpaceX wasn’t enough to make them uncomfortable?
It’s worse than that… what they IPO with is basically a tiny percentage of SpaceX composed solely of xAI
The entire stock market is basically 99.9% blind speculation and 0.1% basic math, which is why it rarely makes sense
The entire stock market is basically 99.9% blind speculation and 0.1% basic math
The US, England, and Japan are all returning to quantitative easing policy. So we’ve once again got too much money chasing too few investments. What a lot of naive investors see as a market bubble is recognized among the more savvy as a return to our ongoing policy of asset inflation.
A lot of what SpaceX is selling boils down to an access point to public spending - through sale of military hardware and equipment, network access to Starlink, and R&D funds allocated to the private sector. That’s what is really driving investment. It is, in effect, a play on the future of police and military spending.
Still wildly overvalued imho. But not “blind” speculation.
So we’ve once again got too much money chasing too few investments.
maybe it’s time to redistribute that too much money. lets free them from their burden.
Can’t do that. That’s Communism. Communism Killed 10 Trillion People.
It’s not even a surprise, this is from SpaceX s-1 document: only 7% of their estimated valuation is from Space related activities
Is “Enterprise Applications” like shooting datacenters into space, or copilot business edition?
I think the “Space-Enabled Solutions” part sounds more like designing satellites than the space-launch business.They bought Cursor for AI. Earlier this year cursor switched to pay per use model, so now every engineer is spending dozens to hundreds of AI Bucks. I don’t think Cursor is profitable on that yet, but I imagine xAI are looking to scale that model, both to turn Grok into something that earns an income, and to scale up to profit despite cost of datacenters/training.
I’m skeptical there is really a profitable market, but it might be the most grounded of his predictions. The technology exists, the business model is successful at a small scale, so they just need to scale
The technology exists, the business model is successful at a small scale, so they just need to scale
could you provide details on that?
That’s what I was referencing, I’m surprised the regulators and the exchange let that happen
You are surprised that the people doing this during Occupy Wall Street are allowing this?
Who is that
Money isn’t real.
I hope every Nazi piece of shit with money in this ends up destitute as fuck.
They’re making an exception to put it into index funds more quickly than is ordinarily allowed, so a lot of normal people might end up holding it too…
That is a great point.
The SP500 refused to allow SpaceX in on an accelerated schedule, so its usually vetting process would still apply (12 months of public trading, positive earnings for a period of time, etc).
So right now, SP500 is one index fund that isn’t taking a risk on SpaceX, which I, in my tiny knowledge of stocks and finance, appreciate.
Initial price was $135. Then it climbed to $210ish. Now $185.
Pretty regular stuff for a new IPO meme stock. Don’t go on the ride if you don’t like the speed.
There is literally nothing but hope behind the valuation. Same as Tesla. Just dreams and hopes.
That’s not true, it’s betting on American corruption…which is a pretty good bet.
Hopes and dreams are a good thing, that we should all have. I want to buy the claims Musk is selling: he seems to be the only one actually selling a future and I want hope and dreams for a better tomorrow. And he has delivered, even if not exactly what he said exactly when he said it.
I understand musk is not an engineer, I understand some of his founder credits might be exaggerated. But his ability to weave an inspired vision, willingness to pay for it, ability to inspire others toward it, does deserve a lot of credit for the growth and success of both Tesla and SpaceX.
Then his dark side came out into the open … and I still want the vision pushed by Tesla and SpaceX
I want to buy the claims Musk is selling: he seems to be the only one actually selling a future and I want hope and dreams for a better tomorrow.
he is selling a future, but not nearly a good one.
when the musk future comes, don’t cry for how the reality ended up, but eat the shit with a smile on your face.
I will happily live in an era of electric vehicles, cheap and easy access to space and all the modern functionality that brings, affordable satellite connectivity. I will happily live in a world where even the biggest trucks can keep up speed while fully loaded
iPhoneuphill, without polluting, without noise. I will happily choose a vehicle whose trip planning optimizes route and duration, automatically planning chargers as needed. I will happily live in a world where my vehicle, thermostat and home power storage can participate in a “virtual power plant” with intelligent time shiftingI hope you’ll also happily live in an era where the powers discriminate against you, and try to eradicate you. the only comforting thought you will have, is there is no going back.
- That’s true of all new vehicles, not specific to EVs
- I’m very interested in the Slate truck, which might be the only exception. I don’t want a pickup but I do want the lack of gadgets and surveillance they promise
- Or if you want to be argumentative, I claim to be the “in” group, the last to be discriminated against (except I’m from a blue state). Y’all can fight the battles
I’m very interested in the Slate truck, which might be the only exception. I don’t want a pickup but I do want the lack of gadgets and surveillance they promise
that is not the future that musk is selling
It’s the simplest idea in the world, if a company’s outgoings are more than it’s income then how is it going to generate profit for the shareholders? How did no one think of this?
The idea is that it will eventually be profitable, and investors will make their money back several times over.
Obviously, that does not seem to be the case in reality.
The stock market doesn’t work like this anymore and hasn’t for several years… maybe decades. Share price is completely decoupled from fundamentals. The way you make money for shareholders is by getting the stock price to go up and what the actual company does or doesn’t do is not particularly a consideration anymore.
I go one step further and say that I personally believe the market itself is rigged, has been rigged since just after 2008. It is fully under control by dark pools, algorithms, HFT and AI. We will never again see an appreciable crash in the market, just things which vaguely resemble “normal” market action as the overall line continues to go ever upward.
The stock market is now fully a money-generating machine for the Epstein class. I have been saying this since about 2014 when I read Flash Boys by Michael Lewis and the Dow was at 18,103, Nasdaq 4,773. Even today with this news, the Dow is up currently 72 at 51,564 and the Nasdaq is up 496 at 26,517.
No more crashes? That’s something you would hear just before the biggest crash in history. Don’t kid yourself. You’re right that the stock market is completely divorced from actual economic activity of the companies listed, though
