[el_nahual]

15B in revenue is less than what AirPods sell in 6 months.

It's less revenue than Spotify.

It's nowhere near what should be necessary for a company to be "one one the most valuable companies in the world."

Elon knows this. He knows that the 1.5 T "valuation" is nonsense. The market for space launches is quite simply not that big. How many more Starlinks does the world need? What would you do if I gifted you a satellite?

The SpaceX valuation is predicted on hype for scientifically & economically illiterate ideas like "data centers in space."

Elon knows this. He knows that these indexing rules are the only way to keep the hype going and avoid a space-WeWork failed IPO.

[bko]

Agree that 15b in revenue is not a lot. Finance has always been about future growth with majority of companies value well out into the future. And this company is growing at around 50% and has insane margins. They dominate their space with overwhelming majority of global launches. So a high multiple is justified imo