SpaceX secondaries
Would you buy SpaceX secondaries shares at $130bn valuation? Very curious to have your thoughts on why you would or wouldn’t
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I mean if the only piece of information that you have is the $130B valuation then no
none of us have access to their financials or strategic plans so how would you possibly decide whether to invest based on price alone? unless you’re tiger global
$130B for a company that's burning $33B a decade and won't be cashflow positive until 2031? Based on the machinations of the best marketer of this century? No, nope, hard pass, no way.
Drop a couple of zeros off that valuation and we'll talk.
Yes. SpaceX revenues last three years:
• 2021: $2bn
• 2022: $4bn
• 2023: $8bn
1Q2023: $55m net profit
Starlink is finally cash flow positive and growing X00% every year, they are pre-ipo, 85% market share, second player is the Chinese government with 8%, then we have Russia and NASA with a single relevant percentage market share. They have plans for starship, project Artemis to bring the human back on the moon in two years which will boost confidence in the industry. Elon Musk premium. Revenues growing 2x every year consistently. Investing now is the best risk adjusted play in SpaceX’s history. I believe Starlink will IPO in a couple years at current SpaceX valuation. They have the most liquid secondaries in the private market and you could liquidate your position at any time with a 10-15% discount. Investing in SpaceX right now is a no brainer with a 5-10 years time horizon. It’s kind of like Apple before the iPhone: same valuation and upside potential.
So you're talking about Starlink and SpaceX somewhat interchangeably, unless I'm missing something.
How do you get ultimate liquidity on SpaceX, as I believe Elon has stated that he wants it to remain private indefinitely? You think SpaceX trades right now at a 10-15%??
Pm me if interested in knowing
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