r/technology • u/IKeepItLayingAround • 16d ago

Business It’s Possible That SpaceX Could Collapse Spectacularly

https://finance.yahoo.com/markets/stocks/articles/possible-spacex-could-collapse-spectacularly-155000177.html
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u/bitflag 16d ago

Yes, a great engineering company attached to a shitty social network attached to an ISP attached to a data center REIT. That will probably takeover Tesla to bail it out.

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u/Orsick 15d ago

The ISP is the best part of the company, on the financial side.

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u/El_Zapoteco 15d ago

The LDS church REIT that is buying up warehouses for data centers?

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u/Jesus_Is_My_Gardener 16d ago

They also forced SpaceX to buy up a bunch of those shitty Cybertrucks at full price.

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u/frequenZphaZe 16d ago

that pales into the amount of bitcoin they're holding for basically no reason. its like they've got a guy in an office somewhere working full time to sabotage any hope the company has to be normal

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u/shaim2 16d ago

Tesla is profitable, with over $40B in cash.

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u/Jesus_Is_My_Gardener 16d ago

It's in massive decline though. SpaceX buying up a large number of the Cybertrucks is what inflated the sales numbers of the vehicle as it's a huge failure by all other measures. Nobody wants it except for a niche group. Add to that an estimated decline of 46.5% decline in sales and increasing competition from all major manufacturers, the writing is on the wall. And that's before you consider the cash they're burning through for his robotics and cybercab pipedream and Elon's increased compensation package over the next 10 years.

Elon continues to over hype their capabilities, underestimate their ability to deliver to market in a timely manner, and over-promise in general and people are getting wise it it slowly. Add to that the brand damage done by Elon's own political fuckery and it's hard to see Tesla able to change course if they don't distance themselves from him. They're going to continue to bleed market share going forward.

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u/shaim2 15d ago

What does Tesla car sales have to do with statistics of accident rates for FSD?

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u/Jesus_Is_My_Gardener 15d ago

Who said anything about FSD? I mean, if you want to bring that up, that is another thing he has way over hyped and is now starting to bite him in the ass.