Comment by Analemma_
8 hours ago
Remember MoviePass, and how they were losing gobs of money by letting people see unlimited movies for $20/month?
It was so obviously stupid that a bunch of people went, "well, this so clearly can't work that they must have a secret plan to make money, we'll invest on that promise", and then it turned out there was no secret plan, it was as stupid as it looked and it went bankrupt.
The "datacenters in space" thing is a similar play: it's so obviously dumb that a bunch of smart people have tricked themselves into thinking "wow, SpaceX must have actually figured a way it can work!"; SpaceX has not and it is in fact exactly as stupid as it looks.
But it won't end the same as MoviePass until Elon dies; he will keep moving things around, propping up failures with VC, IPO, federal/state (taxpayer) and profit making business money.
The pre-IPO timing of this narrative, combined with Musk’s history of Tesla’s stock pumping, leaves no room for doubt. But, that has worked for Tesla, I’m pretty confident it will work for SpaceX, which will IPO for $1T+.