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Which just goes to show you how bullshit the profit margins are on space travel when they gotta turn the business into a chat bot to be “profitable”
I disagree. That part is actually a somewhat reasonable business (though partially held up by public funds through contracts). The issue isn’t what part is profitable. The issue is what part is getting all the investment and speculation. SpaceX was probably still overvalued for a space company, but they were doing something with measurable tangible value. The AI side is pure promise, and it’s only speculation, and the speculation is wild. It’s valued higher than something that’s actually making profit.
It had nothing to do with profit and everything to do with the tens of billions in debt that was coming due. The merger then ipo was just to dump that bill on the public.
It’s even questionable to me if some of the space x investors will be able to get out above water… Some of those shares were sold at insanely high values then diluted. Fuck them all of course, but seems likely all this ipo achieves is another year or so of runway for the ponzi
I mean the only part of SpaceX making money is the space part, starlink
A part of the space part !
I read that if space x worked perfectly today, they have to do some 470 launches to just equalize Ariane because of the enormous cost spacex have had.
Hopefully we (the EU) will make reusable rockets for less…
That’s the part making revenue, we’re unsure if it’s making a profit.