Comment by awesome_dude
13 hours ago
SpaceX is slated to go public some time this year - June IIRC
The biggest selling point /was/ that Musk was being managed there, he wasn't tinkering with SpaceX like Twitter or Tesla, and his foolhardy direction was kept out of the company.
BUT, like Tesla, Musk cannot help himself and is making SpaceX look like a very bad investment - tying his other interests with SpaceX, allegedly using SpaceX money as a "war chest" in his battles.
There is also a danger that investors will see xAI as politically dangerous, which will really hurt SpaceX IPO
They want to go public, but have to sell the hell out of it in the meantime.
I'll bet SpaceX financials aren't as great as some people think. Remember, Elon was the guy who tried to take Tesla private, and talked a lot of smack about how silly it is to be a public company. All of a sudden he wants SpaceX to go public?
Musk has a pattern here - he used Tesla the same way, diverting resources to xAI and treating it as a funding vehicle for other ventures. Once he started doing that, Tesla's financials got murky and harder to trust. Now he's doing it with SpaceX right before the IPO. For investors, that's not 'too big to fail' protection - it's a red flag that the company finances are entangled with his personal empire instead of focused on the core business.
> The biggest selling point /was/ that Musk was being managed there, he wasn't tinkering with SpaceX like Twitter or Tesla, and his foolhardy direction was kept out of the company
The biggest selling point to who? Definitely not wall street