this post was submitted on 15 Jul 2026
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Jokes on you because it never had any real value to begin with
While I detest Elon, the company definitely has some value. They’re still the global launch leader at this time. That said, their valuation based on promises of AI and asteroid mining is complete nonsense.
It had value, before it bought xAI.
Now there's an infinite money pit attached to it
Sure, but you are talking about being the leader in an industry that has historically been the profitless province of state sponsored exploration, scientific discovery, with supplementing industrial functions as a value-add. It is not a given what value there actually is in being the leader in this field.
It's almost like things are fundamentally different now from "historically." Historically, we (I'm in the launch vehicle industry) didn't have reusable launch vehicles. Even 10 years ago the launch community was hugely skeptical of being able to successfully refurbish a rocket and maintain mission assurance.
My point is that most of the launches being performed now are not state sponsored or for scientific discovery. You are looking at it from the lens of a period when there were only two providers and only a few customers. With tons of commercial companies interested in proliferated LEO programs, there is a lot of profit in launch.
However, that STILL only gives the stock a value of around $8/share.
If you took the state funding out of Space X how much money do they make?
That was because it was so costly to get even a single kg into orbit. The commercial satellite industry is a quarter of a trillion dollars and growing in part because the cost to get stuff in orbit is going down.