In Reply to: Re: Good breakdown of SpaceX's IPO numbers posted by russsmith on May 24, 2026 at 11:56:15
It looks like a classic "bust out."
Elon is taking as much of a loan surrounding his only profitable company Starlink from banks, venture capitalists, and now the public.
He then will have full control of how to funnel the money to himself and his allies while leaving everyone else holding the bag.
Unlike Enron, this is happening in the open because the government and banks issuing the ipo are part of the grift.