Comment by jiggawatts
8 hours ago
The "space economy" is not yet a certainty, other than in the mind of science fiction fans. (Unsurprisingly, hard to reach irradiated rocks of undifferentiated boring minerals in a cold vacuum are of negligible value to humans here on Earth.)
Even if the Star Trek utopian future materialises, it is very likely to be a long time from now.
1. SpaceX has competitors. Most are making reusable rockets.
2. SpaceX has no moat.
3. The concept of money itself might change dramatical by the time SpaceX becomes a multi-planetary mega corporation. Investing now may not return returns in any meaningful sense.
>The "space economy" is not yet a certainty
True, and that's exactly the reason why people want to buy this stock now.
If future returns were already (almost) certain, they would have been priced in and you couldn't make any money with this stock.
This is a classic high risk / high reward stock. IF the space economy takes off you might 10X your investment. If it doesn't, you might lose most of it.
Rich people (who own most of the stock market) can afford to make such high risk bets, because they can afford to lose the money and thus many will make that bet.
This is the only sane reply so far, and being on HN (notably a VCs platform) this is rather sad.