Beyond Hype
The stock market’s romance with technological disruption has once again collided with an inconvenient reality: even the most visionary companies must eventually be judged by their ability to generate sustainable profits.
The stock market’s romance with technological disruption has once again collided with an inconvenient reality: even the most visionary companies must eventually be judged by their ability to generate sustainable profits.
There was a time when financial markets valued companies on the basis of what they produced, what they earned and what they could reasonably be expected to achieve.
SpaceX closed nearly 19 per cent above its IPO price on its Wall Street debut, pushing its valuation past $2.2 trillion and making Elon Musk the first person in history to reach trillionaire status.
The IPO pricing has reportedly increased Musk’s net worth to nearly $970 billion, placing him within reach of the trillion-dollar mark.
Buying into the SpaceX IPO means funding Elon Musk's vision, not shaping it. Public investors get Class A shares with one vote each, Musk holds Class B shares worth ten votes apiece, giving him 85% of voting control.
Maersk's partnership with Starlink promises rapid internet on the high seas, benefiting crew and business efficiency.
The US Securities and Exchange Commission (SEC) is suing Tesla and SpaceX CEO Elon Musk for refusing to testify in an investigation into his purchase of Twitter shares in 2022 before he bought the micro-blogging platform for $44 billion.
SpaceX engineer Ashley Foltz has sued the Elon Musk-run aerospace company, alleging pay discrimination where women and minority employees are being paid less than male and white workers.
Apple is reimbursing Globalstar for 95 per cent of the capital expenditures related to the satellites, including the launch costs, reports TechCrunch, citing regulatory filings.
NASA announced that it will partner with seven US companies for its upcoming human spaceflight and the commercial low Earth orbit economy.
