> Less than 5 months after it’s IPO, SpaceX is already hitting the wallPrevious | First | 1 | Last | Next
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VP_Spiro_T_CheneyLess than 5 months after it’s IPO, SpaceX is already hitting the wall
Forget the stock, it’s in the diamond hands of hodlers who’ll ride it to zero…. But their $25B in existing bonds are now selling for 80-some cents on the dollar, credit default swaps will cost you nearly 200 basis points and best of all they’re now borrowing another $40B “off the books” using a SPV and pledging their Nvidia chips as collateral.
It’s a FUQING SCAM
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Re: Less than 5 months after it’s IPO, SpaceX is already hitting the wall
One of the problems with Musk run companies is that there is an entire mythology that the genius of Elon Musk is the key ingredient in the company's value. But Elon Musk doesn't have 40 hours a week to spend on these companies. There are genius rocket scientists working for SpaceX, but Musk himself is more hype-man, or financial engineer, than engineer. He got a bunch of money early in the history of the web, and he's leveraged that and the mythology of Elon Musk, Boy Genius, to put himself atop these companies.
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Re: Less than 5 months after it’s IPO, SpaceX is already hitting the wall
Spanky?
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Re: Less than 5 months after it’s IPO, SpaceX is already hitting the wall
wrote:
One of the problems with Musk run companies is that there is an entire mythology that the genius of Elon Musk is the key ingredient in the company's value. But Elon Musk doesn't have 40 hours a week to spend on these companies. There are genius rocket scientists working for SpaceX, but Musk himself is more hype-man, or financial engineer, than engineer. He got a bunch of money early in the history of the web, and he's leveraged that and the mythology of Elon Musk, Boy Genius, to put himself atop these companies.
God bless America.
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