Prior to the IPO, I was absolutely interested in SpaceX stock. Regardless of Musk’s antics, they are far and away the most advanced and most successful space launch company in the world.

Where traditional space launch companies like Boeing and ULA are floundering and failing, SpaceX was getting it done, to the point where NASA and the US Military had to move flights originally booked with ULA and hand them to SpaceX because they were the only ones able to get things done on schedule AND is more profitable than any other rocket company thanks to landing and reuse technology.

Then, of course Musk merged Twitter into xAI, merged xAI into SpaceX, then basically called SpaceX an AI company to attract more AI investment hype, and 99% of the stock value is AI hype.

And I have zero interest in SpaceX stock any more.

The funny thing is that even with this massive overspending, AI companies aren’t profitable. They need these companies to spend 10x the amount per token, and 10x the number of tokens. Probably 10x the number of customers too.

Burning energy, draining water, spending massive cash so they can lose money on a product that doesn’t even do its job. How the hell has the bubble not popped yet…

AI is so great, it must have generated a billion dollars in useful, quality, productive output