It's hype, but that doesn't seem to matter.
A thread 🧵
SpaceX has demonstrated incredible financial loss. Its largest client is the US gov't and the revenue it would need to support its astronomical valuation is dependent upon technologies yet to be created & proven.
Yet Musk's faithful followers flocked to buy shares at the #SpaceX IPO, making #Musk the world's first trillionaire and further driving up the company's valuation which is based on hype, not financials.
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#business #finance #MyThoughts
