Max Chafkin, Bloomberg Businessweek Columnist, discusses recent losses for Elon Musk's SpaceX including a scrubbed launch and a slide in shares that equates to roughly $1T in valuations. He also talks
if spacex IPO in 1986 same as microsoft, it'll be worth $50 billion even if investors daydream of going to mars with robot companion it'll be worth $100 billions and not $1.8 trillions
Grafting a third rate AI company to a world class space lift company was a pure money grab. No reason to do it other than to create an absurd valuation story for the upcoming massive risk transfer exercise.
Claiming a company "still in progress" and figuring out what it's doing is "worth" trillions, and exhorting/obliging the public to buy shares in it is, at minimum, irresponsible. At worst, and most realistically, it's criminal.
Hopefully the whole AI bubble pops soon, but the billionaires and hedge funds are forced to pay back (...somehow...) the losses everybody else is being forced to bleed.
Ouch, a $1T valuation slide is a brutal game over screen. Even the biggest players hit a glitchy level sometimes, but those scrubbed launches always sting. Do you think they can patch these errors and bounce back, or is the hype train finally hitting a wall?
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Hopefully the whole AI bubble pops soon, but the billionaires and hedge funds are forced to pay back (...somehow...) the losses everybody else is being forced to bleed.