[CGMthrowaway]

Krugman's brushing off genuine engineering wins here. SpaceX got space launch costs down to unheard of levels and built Starlink. Tesla built and scaled EVs at a time when no one else was willing to really try. Musk has a habit of overpromising, but there is real output that we can measure as well.

I expect SPCX might stay in squeeze territory until insider lockups expire, and yeah that's financial engineering, but the stock is not going to zero anytime soon the way an actual Ponzi would.