Elon Musk says SpaceX facing 'risk of bankruptcy' in leaked email

Michiel

Posts: 103   +61
It's Musk's job as CEO to run the company properly. Apparently, he hasn't paid too much attention to his Starship engine production. That's on him. This whining must be solely to get workers to give him free overtime.

I'm sure you know how to run a cutting edge-, pushing the envelope-, commercial space/rocket company "properly" without any kind of risk or unknowns, comrade.
 

Uncle Al

Posts: 8,659   +7,561
SpaceX Is a privately owned company. Not listed on the stock exchange. As commented several times already. There is no stock price to push down or artificially depress.
LOL .... you obviously aren't keeping up with the news. While SpaceX is not currently offered on the big board, Tesla is and since Musk makes no secret that he switches money back and forth to support his portfolio of his companies, this can easily be seen as a promotion to get more money poured into Tesla.

By the way, SpaceX has been submitted for an IPO that could hit the market early next year ... you think he won't manipulate the company in order to get the highest IPO offer price?

As a Tesla stock owner I keep careful tabs on his antics and would not be at all surprised if the SEC doesn't investigate his latest antics and could very well kill his IPO before it gets born .....
 

Bobbydpue

Posts: 322   +217
That's a good start, but keep going: why is it "not real"? Because it's just potential for others to buy the stock? What do you think almost all of money is?
Why do you suddenly have the USD fluctuate up and down vs other strong currencies like the Euro? You'd rather deal in direct goods? Well those fluctuate even more if you look at the price of commodities like oil, so it's not that.

There is no intrinsic value: No form of wealth is actually real. What's real is the willingness to enforce property rights and who those are given to.

For example we commonly understand that very rich people rarely have consequences for their actions because their wealth translates into being able to mount impenetrable defense in court right?

But if that doesn't do it well, there's the legalization of bribes which Americans call "Lobbying" now: don't need to spend your money in court if you just spend it on politicians that write the laws that say that what you do is completely legal, hell you might even be entitled to a tax refund for what you do.

If you think about all of these things then you should understand what being a Billionaire means: It means that you personally can do all of these things and more, it means the law does not apply to you, the rules do not apply to you if you don't want them to, you can do whatever you want simply because almost nobody can stop you.

That's what money ultimately means and that's why Billionaires like Musk seem so preocuppied with the thing they supposedly have the most: money doesn't means anything if you don't actively enforce it by for example, demanding your employees work even more, for even less money, by you justifying firing most of them because you're "heading for bankruptcy" and there's no other way to save company A while company B continues to dominate and be among the most valuable in the world but oh, too bad you don't work for B right, you work for A so...We need to let you go, nothing personal we're just broke.

This entire thing is mostly an act to try to accumulate even more wealth and resources like I said, very likely from the government in the form of grants because hey we all want to go to Mars right? But the rich man is telling us it cannot happen because it's not "profitable" enough so we've gotta give him more of our money somehow, right?

I feel like you didn't read the article and are arguing against points not made in it.

"not real" his estimated value is not liquid. Pretty simple. I'm sure Microsoft isn't the only company with liquid money stored away so they can obtain the things they need to move their company forward like other companies or just their talent. Unfortunatly for Starlink they've spent most of their cash-in-hand on operating costs.

When a company is failing they tend to let people go it's not illegal and it's not unusual. People who get paid by the hour get paid more money when they have to work overtime.

Rich people not having the same rules is not the fault of rich people it's the fault of those who let rich people get away with breaking the law. It's the legal system in the US that's at fault when a rich person gets off breaking the law without being punished people blame the person who broke the law rather than holding the justice system accountable.


""What it comes down to is that we face a genuine risk of bankruptcy if we can't achieve a Starship flight rate of at least once every two weeks next year,"" That has nothing to do with Mars and he's not asking the US Government for money. Starlink depends on having satellites in orbit if their company can't get satellites in orbit they might not be able to make enough money to offset the money they spent putting satellites in orbit. It has nothing to do with anything else you've said.