this post was submitted on 21 May 2026
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Yes.
Elon musk had SpaceX buy XAi which bought Twitter all for increasingly more money from himself. The valuation is based on that. Somehow.
Apparently they claim their TAM is $28T because identifying trillion dollar businesses is their core “repeatable business model”. None of the companies folded into SpaceX now are trillion dollar companies. How the argument that the core business is making trillion dollar companies, despite not making any trillion dollar companies, makes any sense I do not know.
Also uhh… don’t look at their declining real revenue, or that they just bought $1B of depreciating assets from Tesla like $138M of cyber trucks. That definitely was not because they weren’t selling.
Edit: Here's a video on this so you all can see exactly how shitty this deal is https://www.youtube.com/watch?v=-X6YzlY_8tM
Yes I believe the TAM or value or whatever of a single company is 12% of all wealth in the U.S. That makes sense.
I have to be honest, I don't know how any investor read their S1 and still wants to put money in this thing.
I mean, I know Carlin said it's a big club and you're not in it, but fuck. They're all in on it.
the whole point of IPO's is bagging algo/unsophisticated retail traders/institutional $ that has to trade a certain way.
spaceX will be IPO'ing into the SP500 right from the start, given an exception to a long held rule againat stuff IPO'ing there which was made specifically to prevent this type of thing.
all the various ETF's and funds that track the sp500 have to buy in, everytime a ticker gets inckuded into the sp500 the price is ran up beforehand specifically to bag those people, an IPO will 100x worse...but insiders/early buyers will make a killing
"We want to be a trillion dolar company because we want to becom3 a trillion dolar company!"