To hold $135 at a generous 30x multiple, SpaceX needs ~$60B of annual net income. Last year it lost $4.9B. So it needs $65B in profit, somehow building out of thin air the profits of Bank of America ($30B) + Exxon ($25B) + Netflix ($11B). For reference, Tesla is a mere $4B.
What an opportunity!
/9
NEW: US CPI inflation rose to 4.2% year-on-year in data released this morning, hitting the highest level since 2023 while increasing 0.5% month-on-month
Core CPI inflation rose to 2.9% year-on-year, increasing 0.2% month-on-month
"At the start of the new millennium, privatising Deutsche Bahn and listing it on the stock exchange was mooted as a way to reduce costs for taxpayers...To improve profits ahead of the hypothetical listing, maintenance was skimped on" - giftarticle.ft.com/giftarticle/... ffs
Defenders of privatised model hold heads in hands
It felt like an account of how repeatedly experiencing the 18th of November hundreds of times renders the narrator stunningly self-involved and dull. Great. I'm
I really really love Groundhog Day and also Palm Springs, which is why I'm so disappointed in myself for finding On the Calculation of Volume so boring