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.
SpaceX has called off the first flight test of a fully integrated Starship and Super Heavy rocket.
The giant, stainless-steel vehicle will be the most powerful rocket ever to fly, featuring about 2.5 times more thrust at liftoff than NASA's iconic Saturn V, Space.com reported Musk as saying at the conference.
Elon Musk-owned SpaceX has applied to the Department of Telecommunications (DoT) for a global mobile personal communication by satellite services (GMPCS) license to launch broadband-from-space services in India under its Starlink brand.
"Internet fiber, phone lines, cell towers & other space-based comms in war areas have been destroyed. Starlink is all that's left. For now,"
Hubble has been operating since 1990, about 540 kms above Earth in an orbit that is slowly decaying over time.
