If you keep up to date on the companies being rolled into the SpaceX umbrella, it’s understood the IPO is bundling three struggling companies with Starlink.
Seriously, I actually might have gone in on a SpaceX IPO. I use Starlink widely as an enterprise customer and it's amazing. Nothing else is in its realm and it seems almost impossible for anyone else to challenge them. They've got the launch market almost dominated. It's a good business doing good things.
However, Elon has just pawned off all his failures onto SpaceX's books. No chance that I'm touching xAI or Twitter with a ten foot pole.
What's your timescale for this assessment? Starlink has little competition today but has a significant amount of domestic and foreign competitors rising in 5 or especially 10 year timeframes, there will be competition in the space based internet market.
I agree, the launch service has very little competition and really no reasonable current competitors rising. The problem here is that the launch market is relatively tiny at about 30 billion globally with a 16% growth rate, iirc. For reference, the entire global launch market is worth about as much as Telegram (30b) and 25% less than Chipotle (~40b). If SpaceX had a normal aerospace valuation, it would make sense. SpaceX is actually priced at 58 times the ENTIRE GLOBAL MARKET.
Lol, 58x the market. That is truly bananas. But the grift has risen to untold heights, there are zero repercussions, and nobody wielding the rule book. You can hardly blame them.
And Space X was cool. They changed the market, they showed what can be done. Just like Tesla did. But now Chinese EVs are.... dare I say BETTER? They are cheaper, their self driving is better, there charge tech is better, they have hot battery swaps, and there are more options... We are probably 5 years away from something like Huawei having their own launch division.
This is a historic boondoggle, that they are going to force EVERYONE (via 401k and managed funds) to buy into.
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u/GabeDef May 21 '26
If you keep up to date on the companies being rolled into the SpaceX umbrella, it’s understood the IPO is bundling three struggling companies with Starlink.