Elon Musk's SpaceX Hits $100 Billion Valuation (cnbc.com) 59
The valuation of Elon Musk's SpaceX crossed $100 billion following a share sale by existing investors announced this week. CNBC reports: SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from insiders at $560 a share, according to multiple people familiar with the deal -- increasing the company's valuation to $100.3 billion. The company did not raise new capital at this time, sources said, with the purchase offer representing a secondary sale of existing shares. The new share price is an increase of 33% from SpaceX's last valuation of $74 billion at $419.99 a share in February, when the company raised nearly $1.2 billion. The company had a similar secondary transaction in February, with a deal for insiders to sell up to $750 million at the time. SpaceX's new valuation makes it one of the rare private "centicorn" or "hectocorn" companies in the world -- a $1 billion unicorn 100 times over. Musk's SpaceX is now the second-most valuable private company in the world, according to CB Insights, behind only China's Bytedance and jumping past fintech firm Stripe.
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wat
That's bananas. In a healthy system people have enough currency to allocate it as they see fit, and thus demonstrate their appreciation for your efforts (in the same way that under capitalism, a tip is the most honest way to show appreciation for someone's labor, and a lack thereof is the most honest way to show a corresponding lack.)
That the USA doesn't have a healthy system doesn't prove the opposite, it only illustrates how fucked up things are here for the average person.
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a tip is the most honest way to show appreciation for someone's labor, and a lack thereof is the most honest way to show a corresponding lack
If that were true all billionaires would be earning minimum wage while raking in those billions through their Patreon and OnlyFans accounts.
Honesty has nothing to do with it.
Tipping is a way for business owners to offset their business costs (wages) directly onto customers and workers, while evading taxes.
Owner doesn't pay a dime of tax on tips - but workers still have to.
Without the benefits gained from paying into social security, unemployment protection or medical insurance - had those tips been a part o
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Even people who don't get tipped wages can get tips. The only person who mentioned tipped wages is you. While you are right about them, your outrage in my direction is misplaced and you can save your lecture.
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While you are right about them, your outrage in my direction is misplaced and you can save your lecture.
No outrage.
Just providing a correction to a thought-terminating cliche, instilled into the collective mind of the society by very powerful lobbies and propaganda.
US restaurants alone are, even during pandemic, a 789 billion dollar industry. With projections just before the pandemic being closer to 0.9 trillion dollars. [forbes.com]
That pays for a lot of lobbying and for even more propaganda.
Even with the pandemic, that's over 12 million wages [restaurant.org] they'd rather have someone else pay-up to the minimum level.
And that's one sin [payscale.com]
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As I was saying before some poor snowflake got upset by the reality of the economic system he supports as it rams him up the ass...
a tip is the most honest way to show appreciation for someone's labor, and a lack thereof is the most honest way to show a corresponding lack
If that were true all billionaires would be earning minimum wage while raking in those billions through their Patreon and OnlyFans accounts.
Honesty has nothing to do with it.
Tipping is a way for business owners to offset their business costs (wages) directly onto customers and workers, while evading taxes.
Owner doesn't pay a dime of tax on tips - but workers still have to.
Withou
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Hates Elon Musk
Worships Big Pharma
What a joke
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The scammers who want to get you into their Ponzi scheme.
That's what the stock market is, after all.
Hate him or love him. He's defied odds. (Score:4, Interesting)
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Literally only in the delusions of the scammers that make up those "valuations".
Re:Hate him or love him. He's defied odds. (Score:4, Informative)
This isn't a fictional value... it's shares times price equals market cap.
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Look at Facebook. It was almost an order of magnitude "worth" more than SpaceX, and it's taken hits the past few days. If it was real value, it wouldn't drop.
Re: Hate him or love him. He's defied odds. (Score:3)
All value is subjective. There is no such thing as a single objective value. Just the observable market clearing price.
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But each body requires different amounts of them, and suffers differently for different amounts of lack.
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Re: Hate him or love him. He's defied odds. (Score:2)
That is besides the point. From an economics perspective, one places a value by considering the opportunity cost. If you are trying to flee a hurricane, petrol (or gas) is worth a heck of a lot more to you than when you just need it for regular day to day use.
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Re: Hate him or love him. He's defied odds. (Score:2)
If air for breathing became scarce in a hurricane, then yes it would be more valuable!
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And which shares are?
Here are the top 20 companies in the world by market capitalization. It would be really useful if you could explain which companies are overvalued and undervalued.
You are good at making grandiose emotional generalizations about finance, but I don't think your opinions on the value of companies have much substance. By all means prove me wrong, but I don't think that you can.
Rank Name Symbol marketcap price (USD) country
1 Apple AAPL $2,362,165,428,224.00
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The market NEVER is, and "value investing", being also done by humans", for that same reason NEVER is.
There's just a last glimmer of delusion trying to survive, because people just can't accept it fully yet. That's why you said "is mostly rational" and "often is" instead of "never is".
NO shares are. That's my point! (Score:2)
NO shares are!
The entire thing is a scam! That's the entire and only point! That is why "for-profit" exists.
The only reason it exists, is because people get to time to think between working their asses off for their corporate massas.
Did you deliberately miss my point, or are you just physically unable to think beyond assuming retarded choices? Because this is just making you a real Uncle Tom right now.
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Everything is worth what somebody else will pay for it.
A Tesla Model S Plaid is worth $129,990, because people are willing to buy it for that price.
A Big Mac is worth $3.79, because people are willing to buy it for that price.
Various stocks are worth their quoted value, because people are willing to buy them for that price.
Trying to claim that all stocks are overvalued is facile. You don't think Saudi Aramco is worth $2T? Because they sure do own and produce a lot of oil. You don't think TSMC are worth $570
Deciples got mod points, I see! (Score:2)
Sorry guys, reality doesn't care.
It will come crashing down, no matter how hard you believe. And I will enjoy it all the way.
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Tesla is arguably overvalued, when the entrenched players get their bulk in gear they will run right over them. SpaceX is arguably undervalued, they are years ahead of literally everyone else on the planet when it comes to building launch vehicles, and humanity is either going to burn out or move its heavy industry into space.
Musk doesn't make any money from this... (Score:3)
It was a share pass between one investment group and another here. The selling group gets all the cash on this move, the buying group gets shares. Because it was a higher price than last trade, it moves the valuation / market cap up. Not bad, a $1B company that hasn't done much in reality yet, but has a lot on the whiteboards.
Re:Musk doesn't make any money from this... (Score:5, Insightful)
SpaceX current activities? One of the few US launch companies that's actually sending rockets up, and doing it at a pretty competitive price. In addition, they have the only re-useable rocket system in operation at the moment. A pretty good current portfolio. SpaceX potential for the future? Off-the-charts. No other launch company comes close. Their future systems are in active development, not just some on-paper multi-trillion boondoggle system like the other companies. SpaceX is building prototypes, launching them, crashing and burning them up, learning, and iterating fast. No other space company comes close. And, as much as the space-haters claim otherwise, humanity is headed into space sooner or layer, in a big way. If we don't we won't last very long as a species. Hm. I'm not a musk fanboy, but there's a good reason his companies are valued where they are.
In other words, SpaceX has a growth story that literally tells itself. Tesla is the same way - the only premium electric vehicle maker on the planet with full production capabilities, and expanding said production capabilities by the month. That's why they're valued where they are.
Compare that to Facebook. Try listening to their executives tie themselves into knots explaining how they're gonna double their market share. Try to ignore the fact that most people under the age of 40 actively dislikes them, and they're starting to lose their luster with oldsters as well. Now, try keeping a straight face.
I'm not saying Musk is god and Facebook is doomed to failure. Companies can surprise. But SpaceX and Tesla are valued high for damn good reasons.
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My point was that this transaction didn't involve Musk... he's left with paper value up, he didn't get cash from this.
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Not bad, a $1B company that hasn't done much in reality yet, but has a lot on the whiteboards.
The fact that you are talking about a "$1 billion company" when the story is discussing a $100 billion valuation reveals a lot about your understanding of the story. Are $1B and $100B so similar to you that you don't notice the difference? I assume you wouldn't notice if Apple and Microsoft were referred to as $200 trillion companies, instead of $2 trillion.
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Checking 00000000 okay, missing a few zeros, typo.
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It may start out as a "typo", but if you don't immediately realise your mistake after posting, then it's just a basic inability to understand how much things are worth. An intelligent human should be able to estimate numbers to within 1 degree of magnitude. Could the population of the world be 700 million? Could the US National debt be $267 Trillion? If you're not sure, then you don't have much of a head for numbers, and I wouldn't be particularly confident about any financial opinions that you chose to exp
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You must not invest much. Stocks are valued based on 1) what they are doing now and 2) their growth potential.
SpaceX current activities? One of the few US launch companies that's actually sending rockets up, and doing it at a pretty competitive price. In addition, they have the only re-useable rocket system in operation at the moment. A pretty good current portfolio. SpaceX potential for the future? Off-the-charts.
Most of us would be beyond satisfied, having founded a company on the bleeding edge of technology, let alone if it ever became a hundred billion dollar outfit... and this is Musk's second most valuable enterprise, with Tesla valued at five or six times that of SpaceX.
Fucking Crazy.
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The fact that it is that far behind Tesla's valuation is the crazy part in my book. Sure it is all speculation at this point but with starlink which will revolutionize internet accessibility and if they can achieve what they want with starship, it will revolutionize space access, there is NO WAY this shouldn't be worth 10x Tesla. You can bet if I was able to, I'd buy shares.
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The fact that it is that far behind Tesla's valuation is the crazy part in my book.
Like the men said, it's not based on reality, but the perception of reality. Most people who pay attention to space stuff at all have been fed a steady diet of "space is worthless as there's nothing important we can do there that we can't do here and it will cost 28047238904723 * infinity dollars to do asteroid mining so it will never happen" but anyone who can afford an EV and even some who can't can arrange to get behind the wheel of one and try it out.
Re: Musk doesn't make any money from this... (Score:2)
There, fixed that for you. (And yes, I do have money invested, and no, I won't ever claim to know what's what. I've just found that reality and state of companies isn't strongly related to the stock price. A degree in psychology will likely get you further on the stock marke
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hasn't done much in reality yet
In about 15 years, they went from 0 to a 75% market share in worldwide commercial launch activity, while simultaneously causing that market to grow by several hundred % (through lowering launch cost, and through Starlink). What planet do you live on to call that 'not much'?
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Nice history, but I was referring to the currently discussed transaction. See the summary.
And well deserved.... (Score:5, Insightful)
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Elon has made excellent contributions but nobody deserves $100B. Honestly, all this really says is that our tax system has failed spectacularly.
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A progressive tax doesn't stop at such paltry percentages.
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Look up the history of top US tax rates because it used to be 94%.
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It absolutely was because it kept the executives from just giving themselves all the money and screwing workers. If they just gave themselves the money then they would lose almost all of it and then the government has the ability to use the money for the workers.
You have very little understanding of how badly our economic system has been broken and they've convinced people like you that fixing it would be communism/socialism/authoritarianism/etc. You believe their lies and perpetuate a system of extreme i
Comment removed (Score:5, Insightful)
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Engineering! (Score:1)