SpaceX IPO: A critical look at the risks for retail investors
By
Elizabeth Lopatto
The kind of bagel that ruins lesser bagels for you.
Summary
The article is a critical opinion piece arguing that the SpaceX IPO is a bad investment for the public. It compares SpaceX's IPO filing to WeWork's disastrous one, claiming SpaceX has massive losses ($5 billion last year) and an inflated valuation of over $1 trillion. The author warns that Elon Musk is using the Mars narrative to distract investors from the company's poor financials and to finance his other ventures, including his AI company. The piece portrays retail investors as potential "bagholders" who will lose money while Musk and his bankers benefit.
Key quotes
· 4 pulledI haven't seen anything as stupid as the WeWork IPO document in a very long time — that is, until Elon Musk filed to take SpaceX public.
WeWork was a joke. SpaceX is a threat.
And if Musk and his bankers have their way, you are going to be their bagholder.
Elon Musk is hoping you will be fooled by his repeated invocation of Mars — because he wants you to finance his bad AI company.
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