| ▲ | nickff an hour ago | |
SPCX is valued as an AI company; any and all issues you have with AI company valuations apply to to SPCX. I too agree that SPCX’s space business is real and valuable, but it’s (almost completely) irrelevant here. | ||
| ▲ | dragontamer an hour ago | parent [-] | |
Because SpaceX bought xAI/Twitter. All of the losses are from the xAI/Twitter side of the house. And Elon Musk needs a flimsy story so that no one sues him. It doesnt have to be a believable story, it just needs to be enough so that no lawyer cares to bring a case in Texas vs SpaceX and Elon for breach of fiduciary duty. The story did its job. Elon offloaded the money losing Twitter/xAI out of his personal wealth and onto the public through SpaceX. Done and done. SpaceX is now an AI company (or contains one) and needs to perform as such. ------- It's literally the same story as Tesla/Solar City. Make up bullshit about solar panel synergy with EVs and buy out his cousins failing company. Make it TSLA shareholders problem for figuring out how to make a profit from the failing company, it's no longer Kimball Musks concern since the buyout | ||