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this post was submitted on 03 Jun 2026
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So a perfectly normal US tech company, operating in a stock market that totally decoupled from economic reality quite some time ago.
No, no, no. You see, it all makes perfect sense because economics is built on the nobility of the rational thinking person. SpaceX is worth $1,500,000,000,000 because they have VTVL rockets! It's the future! Wait, what's that you said? Honda also has VTVL rockets and their market cap is only $35,000,000,000? Also, NASA has VTVL rockets in the 90s but keeps getting their budget cut? Ok, but the xAI has got to be making [searching] negative several billion dollars a quarter. Nevermind- what about Starlink? They're making money. Haha, check and mate. Adding in all the money Starlink has made puts SpaceX at [searching] just over negative one Honda in revenue. That... could be worse. Also, I mean, sure, satellite internet providers have been around for 30 years and each one had a period where the future looked bright before upkeep costs or technical issues hammered them into oblivion, but... mhhh....
Look, it's a very real, very serious, very professional system that is very grounded in reality. This is definitely not a huge scam with several giant red flags of unethical and possibly illegal rule changes to weasel into the NASDAQ-100 to fleece index funds.
I agree with your overall point, but have one quibble:
Pre-Starlink satellite internet's future never looked bright because the latency and upload speeds always sucked. Having a swarm of satellites in a low orbit constantly handing off the connections is genuinely a huge improvement compared to having a few satellites all the way out at geostationary. It's just a shame that it's got the deal-breaker of being run by a nazi.
I agree for the most part, but if instead of giving FCC money to a nazi billionaire scumbag we funded public utility fiber, we would have no need to ruin ground based astronomy and we'd have faster, more stable, lower latency connections. Switching to my county's PUD fiber was huge. I pay $65/mo for gig up and down and get sub 15ms pings in most things.
The FCC should have never given money to any private company, and certainly not one owned by one of the richest scumbags around.
It has a shitty LLM company attached, so that magically makes it one of the most valuable companies in the world!
And they’re going to launch those LLMs into spaaaaaaaace!