[mschuster91]

He's still right this time.

Neither Anthropic, Open AI nor SpaceX in its current form is a good candidate for an IPO at valuations that all but guarantee hundreds of billions of dollars in "passive capital" aka pension funds and ETFs will have to buy in.

SpaceX might have been a candidate on its own core business (aka: launching spacecraft and Starlink), but ever since the weird side deals with all of the other companies in the Muskverse (Twitter, xAI, Tesla) it is far too contaminated.

Sooner or later the AI bubble will burst - and assuming that the pension funds and ETFs buy in as projected, they stand to lose a lot of money that will make Covid's first lockdown + dotcom + 2007 Lehman combined look pale.

[potatototoo99]

Elon must be looking to merge the new amalgamation of SPCX into TSLA and join all his sinking ships in one. Starlink itself won't be able to save that, but make it too big and the government might. That is the way to get to the ridiculous valuations needed for Elon's pay package.

[cmsj]

True, but the VC money will have been paid back, and what are we if not meat for the soulless machine of capitalism?