The SpaceX Sham

AlexMuir

> Although SpaceX stock has since fallen far below its IPO price I'm a skeptic on SpaceX but the IPO price was $135, low was $108 and current price is $130. I wouldn't say that's far below.

ck2

it's worse than a scam, he's doing real, permanent damage to the environment * https://techcrunch.com/2026/07/31/spacex-wont-remove-all-of-... and illegally, not sure how he's allowed to get away with it and each starlink deorbit is putting toxic pollution into the atmosphere without penalty (launches too) * https://www.bloomberg.com/graphics/2025-space-orbit-satellit...

midwestfounder

It's difficult to get past what comes across as an attempt to analytically substantiate moralistic reasoning. The contention that it's scandalous to raise capital to support an "automated future" then a dotted line to transhumanism and then the conclusion "it's a sham" feels shoddy.

gfosco

SpaceX and Elon are the litmus test for the future. You're either with him, or your opinions are ignorant and irrelevant.

qwerpy

@cdrnsf is posting negative articles all you do? isn't it exhausting to bathe in negativity all day long?

rendang

> punitive capital gains taxation A strange turn of phrase. What is the crime in view that's supposed to be punished?

MarkusQ

> Negative coverage of the IPO was limited due to the participation of so many major banks in the IPO process; they don’t want to poison the cash cow they’re milking for underwriting fees. WTF? Anyone willing to read this far knows that this is flat out false. The negative coverage was unrelenting, and largely driven by big players peeved by the unconventional process. Anyone who bothers to continue past that point is probably just looking for validation.

baron3dl

The real sham has yet to materialize. You only get a single $1T IPO. For the AI labs, investors are tapped out, and the only thing left is a huge IPO. Google, Meta, Microsoft's cash reserves are drying up, they're squeezing operations for every cent, and sure they can issue some stocks to raise cash, but not $1T. I think this bubble's failure mode matches that of a Ponzi scheme.

slowmovintarget

Ah yes... Critical Space Theory.

rtaylorgarlock

I remember when a post of mine was flagged due to pretty obvious patent trolling against a cool FOSS project, but i made the critical error of 'crying' in my title. Maybe I should flag this to get it out of my system.

3asj176

In retrospect it was a cunning plan to get $100B from the Musk-faithful to build Terafab. Intel is in, AmericaFirsters support it and Taiwan should feel less secure now. The stock price is of course ridiculous: Intel lagged behind TSMC, but apparently Terafab has orders for ASML's latest gen machines (2nm). If Intel will manage to get a yield, we'll see. All this space and AI stuff is marketing. The IPO was to get free money for a serious TSMC competitor.

bigbuppo

Whether it's a good idea don't matter. Fundamentals don't matter. What matters is if enough investors think they can make a lot of money. The bet is on a government bailout of some sort. SpaceX itself is now critical to national security, as is Starlink. Tossing every other Musk company into SpaceX means that when they fail SpaceX itself has to be bailed out. Probably safer than government bonds at this point if you can HODL.