SpaceX IPO: Nice Try Though [video]

TL;DR:

- AI part of SpaceX is absolute disaster, while its IPO valuation hinges on its future success.

- Lot's of questionable corporate shenanigans and accounting tricks.

- Public shareholders have zero power over Elon after IPO.

Some numbers for 1Q 2026

Launch: -660M

Starlink +1.1B

AI: -2.5B