[damnitbuilds]

"SpaceX is making money and doing well, the business fundamentals are working out, and it is valuable because of that."

Spacex is making $10 billion. That does not give it a value of $1.75 trillion.

The $1.75 trillion value is wholly based on speculation about its future growth.

[drzaiusx11]

But they made up a bunch of forecasts with rosy future prospects! Think of how profitable they'll be if literally the world model matched their simple growth equations!

From my perspective, it's all just collective gambling when it comes down to it for tech IPOs these days. The market trends are just as much a popularity game as they are anything else.