SpaceX Investors in Meltdown Over All the Money They’ve Lost
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159 replies
Is it Bidens fault again?
No. Clearly Obamas fault.
Thanks Obama!
/s
It's almost like evolution provides us with an endless supply of fools.
Classic exititis when speculative hype meets financial reality.
They always think they're in on the scam instead of the ones being scammed.
If you can't keep up with the corrupt big boys who own and manipulate the stock market then buy a fucking RRSP. There is no such thing as a free lunch (unless you are one of the corrupt big boys who own and manipulate the stock market).
Good god, people were actually believing in that stock? Fucking idiots. 😂
That’s a meme stock, or something you buy a single share of just to say you have it. That wasn’t ever going make you rich, certainly not in the short run.
What… did they think was gonna happen??? It was a huuuuge pump and dump wealth transfer. It was so fucking obvious
They thought they'd sell first and leave someone else as the bagholder.
You don't understand, Elon is a genius and this is all part of his plan. /s
Btw, now that his stocks are plummeting, do you think banks will make him pay them back? That would be fun.
It's so hard to believe how people put so much money into a completely unknown stock (and with the joker Elon Musk involved in it) on day one. These people are not on their first day as investors but they are sure acting like it.
I think too many kids grew up on social media and believe whatever they read there. Fed by algorithms.
Even though, these guys have so much money so I guess it's adults? It's pretty shocking.
Lol no these are not adults. At least not in any emotional maturity context. Chronologically maybe...
I've been thinking about founding a secular religion. One of its commandments will be "Thou shalt not be a mark." You have a positive obligation to acquire at least a modicum of street smarts. It's a special case of the principle of peace through being a hard target.
I understand that some people are incapable of taking on even that level of responsibility for themselves. They deserve special care. As for the unwilling, they're like bad drivers who expect others to compensate for their recklessness. I'm sorry if they got conned by Musk, but things like that happen when you stick your finger into the rotating blade.
-24% since IPO is still crazy high. I expected it to drop at least 50% day one. But alas, people are idiots
They have no one to blame but themselves. What kind of flaming idiot puts their trust in Musk after all he has pulled and all that was publicly available about the spacex stock being an AI scam and not the previous core business of spacex.
Plus they were overvalued by a factor of like 100 if you can read and were bothered to read their prospectus and how/why they valued the company the way they did.
Wouldn't lose money if they weren't stupid. How did all of us peasant folk see what was coming, but the savvy investors couldn't?
But they'd never admit that we're intelligent. That would ruin their savvy investor persona. Instead, we're just too woke or have Musk Derangement Syndrome.
To an extent, they weren't betting on the business, they were betting on the masses eating up the stock.
And they were at least initially right, and cashing out 2-4 days after the IPO certainly worked for and of them. Stock going down required some significant portion of them to take their winnings.
They were betting on the stupidity of the retail investor, not the fundamentals of the business.
The same way that investors in Theranos ignored their medially trained family members. They're gambling addicts.
"Funny, I thought trendy stocks always went up quickly."
Americans and their obsession with making free money...
They are going to be really mad because it's still 2x to 4x what it's actually worth, it's gonna drop hard.
Musk = POS Nazi.
Too many people have forgotten that the nazis are the bad guys.
People also forget that one of the fundamental parts of fascism is thievery. They steal money, gold, art, even ideologies and elections.
The primarily steal the future.
if they ever thought that way in the first place
I think many people forget how many Americans were pro-nazi before we entered the war. Not to mention how it was decades before the civil rights movement. I know this isn't an American site so it doesn't pertain to everyone, but there seems to be some type of collective amnesia of the values we had not even 100 years ago.
It's bizarro world.
"I gambled on a thing now I'm having a meltdown that it didn't go my way!"
How did this not smell like a pump and dump to everyone?
I smelled the pump, I smelled the dump, but nobody takes investing advice from me.
Participating in and profiting from a pump and dump scheme is the new American dream.
Because too many people gamble (sorry "invest") based on vibes and memes these days rather than fundamentals of the business and maintaining a properly diversified stock portfolio with a realistic time horizon.
They don't understand the concept of a pump and dump, and only see the people bragging about their quick wins rather than the majority that lose.
I think the assumption was that the shortened window to list it in the NASDAQ 100 in 15 days meant that it would be bouyed by 401k money. I don't think early investors planned to be able to pump and dump so effectively that US retirement savings as a whole weren't enough to keep it up.
What about that orbital data center (a.k.a. "Mikoshi") idea btw? How is that feasible?! Do they want to drop all those shiny valuable RAMs and GPUs into the satellite graveyard when those satellites have worn out? Well, maybe the oceanic life can build new kinds of riffs with it. 🥲
/edit: riffs should be reefs
I bet those fish really know their scales. 🎸🤘
Nah, they are probably just bashing the same three power chords.
Ok, fair, potoooooooo 🥔. They'll probably dance and sing Hootie Tootie Disco Cutie. 😉
Oh no, it's the obvious and inevitable outcome that literally everyone saw coming. Who could have know this would happen??!1?
I dunno why yall are celebrating this.
Elon basically gaslighted retail investors, and managers for your retirement funds, into transferring wealth directly to Elon Musk.
Other index funds were forced to buy SpaceX at the IPO price. They literally had no choice, even if they knew they’d lose money. And this includes any overseas ones with exposure to US indices.
This is not something to celebrate. We all just got conned, even if you didn’t buy SpaceX directly.
because anger at this may, in some hopeful universe, inspire some change. luigi style change or otherwise.
The stock market has always been a mushroom farm. Keep them cool and in the dark, then chop them down.
I pulled my retirement funds from the market over a year ago when the market was clearly detatching from reality. They are in a cash account earning modest interest for now.
I don't let fools in a stupor play with my money.
I did the same but paid off debt and bought a house. Still ain't sure whether I chose wisely.
Yeah, I mean you’re preaching to the choir here.
I’m in individual stocks (that I think are sane) or assets everywhere I can be.
We requested not to include any of his stock, I hope that's enough :(
It’s still going to be reflected in certain indexes, and market shifts in general, unfortunately.
So, the point is moot anyway.
Jokes on you, I nor any of the people I know, have a retirement fund lmao. This will overwhelmingly hit boomers and upper middle class yuppies in corporate jobs, and tbh fuck em both. If you work for a corporation and chose to be a stooge, you're also part of the problem.
This whole comment screams projection to me. Having a retirement fund is fairly normal, even if you aren't making the most money in the world.
no. it’d not normal. there is an entire cohort of non-working class without retirement, and working class folks with one half a paycheck from disaster.
Both of these states are normal in our society unfortunately
This GIF never gets old.
what’s the context behind this, what were they doing? haha
Miss Rachael a YouTube star had Mamdani on a show. The clip is both of them singing the " Wheels on a bus song"". The gif is specifically the part singing " the baby on the bus goes, wah, wah, wah".
All the analysts at the beginning were shouting that the IPO was overvalued.
Making outrageous promises and failing to deliver is Elon Musk's brand.
If you have money to invest, and you lost it in SpaceX without doing your due research, I have no sympathy for you.
(I have no money to invest. I was just following SpaceX and Musk's dubious trillionaire status. He's still, way, way too rich.)
Awww. Poor fuckwits bought into a nazi-run company.
I'm sorry they didn't lose more.
But aren't some of these guys fund managers with our retirement money?
Yes. Read also in this thread from a few days ago: https://feddit.org/comment/14018894
What is this "retirement" you speak of.
That's the thing where you quietly disappear into the woods one last time, right? Or is my retirement plan too expensive these days?
Yeah that's what I was thinking too... I'm scared to check my 401k.
Hey guys don't worry! It's not a loss of all your money, just like it wasn't a full on Nazi salute.
Just a note: the same people who predicted this would happen are the same predicting the AI bubble bursting.
well, it is the same prediction. SpaceX IPOed as an AI company mostly
Which is amazing because it's somewhere between 4th and 15th place in the LLM race. Let's say you really believe in a winner-takes-all scenario for AI where the winner gets to monetize harder than Google... Why would you invest in SpaceX? I don't understand the scenario in which SpaceX makes loads of money off of AI. Maybe with space datacenters, assuming that's even possible? But if that's the plan, why spend lots of money training their own model rather than renting out racks of GPUs?
Makes sense, but didn't DOGE steal/transfer social security admin and other US government databases on every American for their AI training. Maybe that access was their implied/wink wink advantage over others?
That data is probably good for advertising, but I don't know if it's useful for AI training.
As ridiculous as that sounds, it is true
that's me!
Isn't both happening now?
Il just repost that here...
Pension funds..
Right mind not bribed mind
What else would you expect trying to make a company that barely makes anything command a trillion dollar evaluation.
Their valuation was made based on the potential for every company to be using the product. No other companies outside of Musk-owned ones are valued that way. Many are valued on the average of a few years of revenue multiplied by 10.
It is blatant corruption and market manipulation. Anybody investing in such a company should expect to be holding bags within 24 hours.
Indeed, someone with a deep fanaticism for Musk posted exactly that scenario as inevitable. This was to stand by his man when Musk asserted that SpaceX should be worth more than everything else on earth combined (he was pissed that spcx had fallen).
The dude claimed that by 2038 the 20 biggest companies would all be entirely space based exclusively, and that globally SpaceX would be the sole provider of space technology and the other 19 companies would be tenants of SpaceX. It all made sense to him because space is bigger than earth, right?
I can't find it, but among the usual suspects (space mining, space datacenters, terra forming), I was especially amused that his hypothetical "space banking company", because for some reason the financials of space companies needed to be managed by a company that could get stuff launched into space?
nachos?
Nacho money.
i needed it without the caption, so here y'all are
And more pixemamels!
Story of Elon's life.
Yup. Thats your mistake right there.
Love it. Hope Tesla's next and his house of cards collapses as all the debt leveraged on his Tesla shares comes calling.
spacex has to cannabalize, tesla, twitter, and XAI to keep it from collapsing.
Man do I have news for you
That's what you get for gambling.
I have no fucking idea of investing and knew it would go down quick, even the news said it since the company has no earnings, how the heck did they not? What were they thinking?
Investors really are just a bunch of toddlers with no memory, no critical thinking skills, and no real skills at all, actually.
If you lost money investing in Musk, I not only have no sympathy but I’m actually going to laugh at you for as long as I have air in my lungs. This, in between my sadness for the lost mkney that could have been used productively to help people.
someone lost a monkey? we've gotta find that monkey
The stock market is gambling.
“SpaceX gamblers in meltdown over not having a winning bet.”
Yeah, they WISH it were like gambling...but it is fraud, insider trading and stock manipulation.
I gotta disagree that the stock market is inherently gambling. If an investor does their due diligence, looks at the fundamentals of a company, and makes an informed decision to invest, they are very likely to see some sort of return on that investment.
Unfortunately, we're deep into "vibe investing" territory now, where stats like P/E ratios no longer seem to matter to either institutional investors or many casual investors. Where people are dumping their money is now disconnected from where it's wise to dump money
So, not unlike sport gambling. You study the teams, their forces and weaknesses, their history, and make the informed decision to gamble. It's still gambling.
It's totally different though. Sports betting is an all or nothing affair, you put money on an outcome, you either win or lose, then it's over.
Day trading (and now vibe trading/meme stocks) may be similar, however investing in a company with good fundamentals long-term carries significantly less risk.
Many companies offer dividends, so you can make money even without the stock price itself increasing. And in holding a diversified portfolio of quality stocks long-term, meaning you ignore market fluctuations, the risk of losing everything is basically zero, and the likelihood of your portfolio increasing in value approaches 100%
Yes, but you can't say that you made money before the sum of the dividends and the reselling price is superior to the buying price. If you invest 100€, the probability to loose 100€ is small; but to loose some of these 100€ not so much. If you invest well, the probability to lose money at all may be small, but if you gamble intelligently on sports it is too.
It's the same equation: more risk=more potential profit, less risk=less potential profit. I fail to see the difference with gambling.
Its because they make money buying whatever goes up, instead of holding selected companies for a long time.
Think about it. You could have made 150% by holding micron for three months. Big tech companies take five years to make that much. So that's why these investors have to jump on the bandwagon no matter what the fundamentals are.
They also sell as soon as it starts to show weakness, which is why micron dropped 30% in like 3 days.
I think it comes down to
ETFs are generally better, especially if you don't touch them for a long time.
To elaborate: The stock market is a "Keynesian beauty contest" where - at least in the short and medium term - what investors think other investors think* about a stock is more important than what it's actually worth. Reality asserts itself eventually, but "the market can stay irrational longer than you can stay solvent", so here we are.
Giving your money to an unregulated Wall Street organization is never “Better.”
What in the world makes you think they are unregulated?
The revolving door and captured “regulators?”
Fools and their money are easily parted.
Seriously WTF did they expect????
I think some people really bought into space datacenters, asteroid mining crazy talk.
Other people probably thought that the market would remain irrational for long enough for them to cash out.
I had a family member talk about space data centers. I tried to explain how the issue in space is more about getting rid of heat, but they couldn't comprehend it cause space=cold.
I would think dealing with radiaton would be the most difficult thing about massive amounts of electronics in space. That's why a chip on a satellite is much more expensive than an equivalent chip that stays on Earth.
Wait, we have to shield it AND get rid of heat?!
Don't forget power it as well. Watched a video where someone did the math and to generate the power required of a typical data center you'd need a solar array something like 40 times the size of the one on the ISS. It would be an absolute behemoth of a satellite and that's without taking into account the cooling which would likely double the size again. Of course once you get that big then you have to worry about keeping the thing in orbit because moving that much mass isn't exactly easy. No matter how you slice it it's a stupid ass idea that doesn't work.
Power is pretty much the only part of space data centres that does make sense. You can put them in an orbit to get 24hr solar power and its stronger than on the ground as there's no atmosphere in the way. Large foldable solar panels are available, and unlike radiators you don't have to pump liquids through them.
Other than hype (which is by far the major driving force behind companies talking about them) access to that power without regulation is the reason you would want to put them in space.
It still doesn't make sense because of the power density. The size of the solar array you would need is completely impractical. Even a "large foldable solar panel" isn't going to cut it. Most satellites are relatively low power and even then the size of the solar arrays they have relative to the volume of the satellite is massive. Something as energy hungry as a data center pretty much demands a "small" nuclear generator to power it and the practicality of getting that into orbit nevermind the issues when it eventually de-orbits makes that a nonstarter.
This makes sense to me.
Also, with all that surface area on panels, I feel like there's a way of having them double as heat radiators - one side captures energy, the other radiates it out...
Those two things aren't incompatible if you shield it with a massive heatsink.
Still harder than just doing it on earth, though.
they were even talking about ocean datacenter a while ago, people dont comprehend how expensive you have to deal with oceanwater, granted it may dissipate heat faster. but dealing with corrosions, logistics would be expensive too.
It would be the most depressing job. You'd get bored so fast.
Heeere am I floating 'round a DC
Faaar above the world
Replace a GPU
Maybe have a wank or two
LinkedIn is packed with Elon dick riding.
::: spoiler Attribution
GIF by https://giphy.com/gifs/southpark2-3oriO5t2QB4IPKgxHi :::
I thought SpaceX was at least on the right track with Starship, but then I read this article talking about how even one trip to the Moon could take up to 20 launches:
https://www.nextbigfuture.com/2023/12/nasa-says-up-to-20-spacex-starship-refueling-launches-per-moon-mission.html
SpaceX has done some impressive engineering feats but so far the only part of the business that has been profitable is Starlink. More importantly, Elon merged his AI business into Starlink shortly before it went public. I read somewhere that approximately 93% of the value of the IPO was based on the AI side and its wildly speculative projections for future income.
My point is that it almost doesn’t matter what they do with Starship, the company is massively overvalued unless Grok suddenly becomes the most popular AI in the world and everyone begins tithing to it.
What's worse for musk - china launched and landed its own reusable rocket. Successfully landed. Spacex only cash cow now have a solid competition from china. Tesla is already losing globally to byd, no reason to believe margins gonna improve there.
So when Spacex is going to close shop in a few months because of bankrupcy, all the "western" world needs to launch their fleets of espionage satellites in Chinese rockets? 😇
So if we assume they manage to build a fully rapidly reusable rocket and launch infrastructure (the latter of which is incredibly questionable), the only marginal cost increase is just labor to conduct the launches and consumables.
And the physics says more like 17 launches, but at the end of the day, that’s just how much it costs to send 200 tons to the moon, AND bring the rocket back. They’re not jettisoning stages or leaving the rocket behind in the moon like Apollo.
The numbers are mind boggling, and short of nuclear rockets and space elevators, there is literally no way to do this short of many, many, many tiny launches, and it’s way less risky to have those tiny launches refill a tanker in LEO than to send 20 launches to the moon independently. Plus there would be no way to send large pre assembled components like nuclear reactors and construction/manufacturing equipment. Everything would have to be manufactured and assembled on the moon.
So I’m not sure what the marginal cost per launch is. I remember reading that the propellant between Starship and Supeheavy is something like $100M per launch, which would put 20 launches at around $2B and would make the re-usability not actually a cost saver vs. an expendable rocket. However, I just read the article below that says the launch cost is more like $3-$5M, so I may have been completely off base in my original assumption.
https://spaceorbitals.com/articles/starship-v3-cost-per-kg-2026/
neat. so let’s not do it until we can do it without funding a nazi, a capitalist, or a war criminal?
Since this snuck into a bunch of folks index funds a whole lot of people just paid Elon musk.
It was a get rich quick scheme, just for them not you
Who knew investing in a capitalist fascist would impoverish you?
Let's hope the same happens with rblx ""investors""
At some point dumbasses will realize it's a bad idea to dump your money on Elon Musk, the biggest fucking idiot there is...
Donald trump enters the chat...
I feel bad for them.
They probably had podcast after podcast pumping out information about SpaceX being a lock and also lack the discipline to sell when sitting on an unrealized profit; Meanwhile Elon still has 800 billion despite being a massively incompetent, douchebag silver spoon baby.
Funny how every dip was supposed to be a once in a lifetime buying opportunity until people actually bought near the top. SpaceX is still an incredible company, but incredible companies can still be overpriced. Reality eventually sends the invoice, even when the CEO is treated like a prophet.
SpaceX was an incredible company... Until Musk rolled in other failing companies into it.
There's no focus on space anymore, it's an LLM company with a rocket hobby on the side.
And on top of that, it’s still saddled with XTwitter’s debts.
i saw someone buy SPAcex stocks on wsb, and they lost alot, they were comparing it to the IBM guy that lost alot , but i heard he bounced back and then some.
Ha Gottem
SpaceX sucked all the money for the AI slop IPO.
No, no, no, now that you're richer than God, sell everything NOW.
What? Space Nutters have assured me that space investments return seven dollars for every dollar invested?
Just start asteroid mining and put a Starbucks on Mars to profit from both businesses!
https://tenor.com/brpF1.gif
what money?
Poor babies.
Hahaha
haha
ha ha elon bad