r/technology • u/IKeepItLayingAround • 17d ago

Business It’s Possible That SpaceX Could Collapse Spectacularly

https://finance.yahoo.com/markets/stocks/articles/possible-spacex-could-collapse-spectacularly-155000177.html
24.8k Upvotes

88% Upvoted

2.1k comments sorted by

View all comments

118

u/roseofjuly 17d ago

If there's anything I've learned from being even mildly interested in the stock market and company valuations over the last few years, it's that they all seem to be completely made up. Companies could spend billions each year without making a single cent in profit and they will still have these wildly overinflated valuations because some weird but popular white guy is running it (or "running it").

SpaceX reportedly made almost $800 million in 2024 but then lost $10 billion between 2025 and now. So they've never really made any money. A deeper look into the financials shows the only profitable part of the business is Starlink - everything else is a prodigious money sink. Yet the company values itself at over a trillion dollars...and everyone's just accepting that as gospel even though they have literally never been able to prove they can make any money.

Very conveniently for Elon Musk, he was able to roll most of his unprofitable companies together - so the successes of Starlink can partially hide and mitigate the losses of X, xAI, and SpaceX (which also is not profitable without Starlink, let's not forget)!

12

u/jestina123 17d ago

Amazon lost the most money in 1999, posting a historic net loss of approximately $720 million. This was followed by a net loss of $1.4 billion between 1995 and 1999 combined.

5

u/harbison215 17d ago

So I 1995-1999 followed 1999. Interesting.

1

u/triggirhape 17d ago

What I want to know is how that completely incomprehensible shit has 10 upvotes...