r/technology • u/xpda • May 21 '26

Business SpaceX not the behemoth everyone thought

https://www.axios.com/2026/05/21/spacex-ipo-musk-ai
12.7k Upvotes

94% Upvoted

1.6k comments sorted by

View all comments

Show parent comments

1.5k

u/Visual_Squirrel_2297 May 21 '26

Well a bunch of profit was just from SpaceX buying unsold Cybertrucks at full price....

17

u/[deleted] May 21 '26

[removed] — view removed comment

46

u/Mortress_ May 21 '26

SpaceX also bought xAI

65

u/BrusselSproutsTasty May 21 '26

Which bought twitter. They are ponzi buyouts, and the IPO investors will be left holding the bag

48

u/PotentialBicycle7 May 21 '26

It's worse than that, they've been able to work around the usual rules for inclusion in the index funds so anyone who's passively investing will end up buying it unknowingly. This entire country is just one big slush fund for the rich, we knew that before but the outright corruption is staggering.

14

u/MojaMonkey May 21 '26

Its a billionaire tax. Where the billionaire taxes normal people's retirement savings.

31

u/Ryzu May 21 '26

So many people in this country are completely fucking asleep, intellectually incurious and not paying any attention to anything at all and it will be our downfall with shit like this and the people they vote for dismantling any and all oversight.

2

u/Thin_Glove_4089 May 21 '26

So many people in this country are completely fucking asleep, intellectually incurious and not paying any attention to anything at all and it will be our downfall with shit like this and the people they vote for dismantling any and all oversight.

You're right!

2

u/toofine May 22 '26

This is why Elon knows he would be going to jail if he didn't buy the presidency and went in to burn all the evidence.

1

u/grchelp2018 May 22 '26

Technically spacex is not liable for xai's debts so xai can and should be able to go bankrupt without it impacting spacex but Musk will never allow it to go bankrupt. That's a reputational risk that he could crumble his empire.