[ryandamm]

Did people really believe this was a financial behemoth? Or was this just a larger bet on the conglomerate that is Musk’s quasi-meme-stock empire?

[tim333]

World's largest satellite launch business and satellite communications network. There's definitely business there but it seems a bit overpriced.

[marsten]

A lot of people believe in Musk and will invest in anything he wants to do. Is this rational? It depends on how it plays out.

I think we may be seeing a new type of capitalism that maybe Steve Jobs and Warren Buffet hinted at: A business empire built around the outsized ambitions of a single charismatic individual. The valuations of Tesla and SpaceX only make sense if you attach an enormous premium to Musk the individual.

[chneu]

We have seen that with people like howard hughes and some of the older families.

[josefritzishere]

I hate semantic arguments but have a thought. I don't think "charismatic" is the right word. Musk is more vilified than celebrated. He's like a human traffic accident, an amoral black hole of social media attention. I am not sure the English language has a word for this.