Matt Levine’s Money Stuff: The SpaceX Squeeze

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You could take the cynical view, and a lot of people do. The cynical view is that SpaceX has a private market valuation of, let’s say, $1.25 trillion, but that valuation has been set by Elon Musk and his friends without a lot of robust debate, and is arguably a little high given that SpaceX loses money on something like $20 billion a year of revenue. Elon Musk and his friends would now like to sell their SpaceX stock to the public, ideally at a large markup to that $1.25 trillion valuation. (Maybe $2 trillion, or at ...