The SpaceX IPO is a Trump-approved scam

I’m amazed that so few news organizations are talking about this. I mean, we shouldn’t be surprised that Elon Musk was going to get his “pro quo” at some point—but this IPO filing is just begging for SEC/SDNY attention that we can be sure will never come with Trump’s cronies in charge. https://www.sec.gov/Archives/edgar/data/1181412/000162828026036936/spaceexplorationtechnologi.htm What are the issues? Let’s see—we should start with the fact that it isn’t a truly public company and Elon Musk will never be accountable to shareholders. Major red flags right there. Let’s also look at metrics SpaceX is applying for their internal valuation—like a total addressable market of $30 trillion dollars or a valuation of $2 trillion against $30 billion in total assets and equity. Here’s a good summary of the main issues: https://marketwise.com/investing/spacex-ipo-prospectus-outlandish-details-investors/ Oh…and speaking of those Trump cronies—at least 10 of Trump’s cabinet... Read more