I talked with my wife about this (MBA, Masters in Economics...). She said treating this kind of company like an established company (PE ratio as indicator... etc.) doesn't work because the company hasn't reached its steady state yet. Not Tesla, and, when it IPOs, not SpaceX either. They're in heavy R&D, where their revenues keep getting plowed into pushing through their emerging phase.

Most of the derision I see for both of these companies takes the form of standard investment analysis for established firms, or simple hatred on ideological grounds. Tesla and SpaceX are like Apple when it was Jobs & Woz in their garage.

Orbital data centers, moon and asteroid mining, more launches, by two orders of magnitude, than any other commercial entity on the planet... SpaceX is going bigger. Yes they might go bust, but evaluating them as though they were Microsoft, GE, or Samsung just doesn't make a lot of sense yet.

Tesla????! The company that has been in business for more than a decade? Tesla is like Apple when it was in a garage?? That is f’ing wild, Elon is God to get an Army of retail investors buying into this kind of nonsense… We had 12 years of robotaxis dreams where he has shown incapable of moving a car safely from point A to point B and now that he failed at that he’s gonna mine the Moon from Woz’s garage? Geez! Too funny it it wasn’t tragic to read stuff like this