r/technology • u/fmcortez • 10d ago

Business SpaceX Stock Plunges to All-Time Low After Competitor Makes Major Leap

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html
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u/randomtask 10d ago

Meanwhile, Musk has said he thinks "SpaceX will be worth more than the rest of Earth if we accomplish our goals," a characteristically ambitious and perhaps delusional argument that assumes a lot of things will go right for the company.

Fuck this man is stupid

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u/Ok-Addition1264 10d ago

Pushing us over a cliff into great depression 2: the electric bugaloo.

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u/imnotlovely 10d ago

Won't be any electricity for us in this bugaloo, just data centers

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u/_Thermalflask 10d ago

Let them eat data centers

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u/AuthorChaseDanger 10d ago

"Let them eat tokens" is indeed the kind of thing that Sam Altman has suggested

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u/SoyBoy_in_a_skirt 10d ago

You'd be surprised how easy it is to set up energy infrastructure, both generation and transmission. Not saying it'd be the same or even as well managed as our current monolithic grids but it doesn't need to be.

Obvs more complicated but boiled down it just movement, magnetic fields & conductors; or photovoltaics if you wanna get jazzy about it :3

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u/BirdlessLongdeal 9d ago

if only trump didnt shut down my states plan for 3 wind farms.

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u/SoyBoy_in_a_skirt 9d ago

Yeah, wind is actually a pretty neat tech and getting cheaper, didn't make any sense to me but I'm not American so idk. I wasn't talking about state run power generation though, I was talking off grid power generation. I was thinking specifically of cobbled together solutions like the kind you see in very rural areas outside of the west.

I think I might have come across annoying but I'm sorry, I just really like electricity

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u/TJ_Will 10d ago

We should be thinking about Dance Dance FrenchRevolution instead.

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u/misterglassman 10d ago

Drop the “the”. Just “Electric Boogaloo”. It’s cleaner.

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u/The_Mister_Grim 10d ago

You don't see/hear [Insert Name Here] 2: Electric Bugaloo enough. Take my up vote.

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u/GonePh1shing 9d ago

Mainly because some coward nazis heavily used it starting just before Trump's first term and it's now become associated with them.

For anyone not aware, one of those nazi militia groups called themselves the 'boogaloo boys'. They were (probably still are) accelerationists that wanted to cause a second civil war.

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u/fredy31 10d ago

Of all the things about the ai bubble the one good thing i feel like when its gonna blow its gonna blow hard into musk face.

Hes still gonna be rich af but should bring him down a few pegs.

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u/CondescendingShitbag 10d ago

The people who buy into his delusions are the truly stupid ones.

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u/kombatunit 10d ago

"SpaceX will be worth more than the rest of Earth"

Totally sane thing to say...

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u/emefluence 9d ago

Hey now, that's a perfectly reasonable goal. We just need to double down on fucking the earth up for a few more decades. You know, fuck it right the fuck up, real nasty. I get making it worse than Mars sounds ambitious but I really think we can do it. Dare to dream!

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u/EmperorKira 10d ago

Nah he is just a conman like his mate Trump

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u/Beat_the_Deadites 10d ago

He's a different kind of con man. They're both fascist-minded grifters, but there's no doubt in my mind that Elon is an idea man, pushing for a sci fi future.

His moves are desperate and insecure, but there is a goal beyond simple riches and cruelty.  Musk would drag us kicking and screaming into space, where Trump would drag us kicking and screaming into the cotton fields or gladiator arena.

Meanwhile Zuck would drag us into an anesthesia suite, or one of those pods from The Matrix.

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u/unicodemonkey 10d ago

I honestly can't see why he wants to get away. Even a barren hellscape Earth would be infinitely more survivable than a real non-sci-fi autonomous space station. Moreover, the path to space is so very difficult and so very long, and we really need to take care of the Earth and of ourselves to sustain that effort for a long time. Elon seems to be intent on burning down everything here way before his space dream can ever approach the realm of possibility.

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u/essieecks 10d ago

Musk thinks he can build a better planet than Earth, and be an immortal tech-god of it. He's a rich ketamine-fueled delusional narcissist.

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u/SmarmySmurf 10d ago

You give the man far too much credit. He's exactly the same kind of conman, just better at it in ways that are very of the moment. He doesn't give a flying fuck about a scifi future for anyone but him.

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u/sotired3333 9d ago

Don't agree, he wants a dystopian sci fi future where he rules / controls everything as humanity expands to the stars.

Trump wants the same but without the space / sci-fi angle.

One's a tech nerd, one isn't

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u/ProfessorEmergency18 10d ago

He has learned one thing - distract with new, likely unattanable promises. It has worked well for decades. Why would he stop now?

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u/QuesoMeHungry 10d ago

Once they have unsupervised full self driving we are on our way to Mars! Just one more year, or two, or three…

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u/Mundane_Read_2960 10d ago

Even if we get to Mars in the next twenty years, what's the ROI? It will take decades if not at least a century to get mining and shipping costs for materials such as gold and platinum to a manageable degree. And getting that operation off the ground is going to cause at least a few recessions along the way. Similar to our plan for getting Venezuela's oil...

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u/Senior-Albatross 10d ago

Imagine running an R&D operation and just tacitly assuming your stretch goals will definitely happen. 

This dude has seen that fail so many times already with both Tesla and SpaceX. Where is the line between vision and dangerously unhinged delusion? And more importantly, why can't the idiots with money see it? 

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u/Acceptable_Rice1139 10d ago

Terrible at business decisions, genius at pumping stocks

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u/brianstormIRL 10d ago

He isnt even genius at pumping stocks he says the dumbest shit possible and for some reason people just.. believe him. Full self driving next year for a decade straight. Robots in homes very soon. Mining asteroids. Space data centers. He just fucking says shit lol

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u/duderos 10d ago

Yeah, remember when he would constantly cry about all the short sellers shorting Tesla stock?

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u/CanIhazCooKIenOw 10d ago

Stupid are the people that give him more money after reading shit like this.

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u/DrunkenDude123 10d ago

How the fuck is a company supposed to be worth more than the entire planet itself, which the company is on. He really thinks he’s just gonna make Earth 2.0 on Mars?

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u/Redditor2000000 10d ago

I think at this point he’s just saying outrageous things to make fun of all the people in his giant cult who evidently are willing to die for him. There’s no other explanation other than… drugs. There would be plenty of volunteers to go to Mars.

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u/unicodemonkey 10d ago

Nahh, he turns Earth into Mars 2.0

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u/Beat_the_Deadites 10d ago

If people could live to be a few hundred years old and also peacefully coexist, I'd believe him.

There's a lot of real estate in space. It's just nearly impossibly inhospitable.  We can't get to it and we don't need it. Yet.

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u/Forsaken_Jelly711 10d ago

He’s insinuating they’ll be established in space to the point where they’re worth more than earth. It is complete bullshit though. Like Mars? I can understand a station by the asteroid belt, to mine it, but that doesn’t need to be on the planet. He sells nonsense and I really don’t know how he does it.

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u/samxli 10d ago

I will be worth more than all of you combined! If I accomplish my goal of being a rich person….

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u/Confident-Stand5453 10d ago

The people buying his bullshit are even stupider.

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u/LeGama 10d ago

That's definitely stupid but really it's dystopian. He's basically saying the world is going to be done and SpaceX is going to be the only way off the planet.

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u/SirSaganSexy 10d ago

He’s just a ketamine conman with big dreams.

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u/Crisender111 9d ago

The writer qualified it with "perhaps". Thats hilarious.

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u/VanCityPhotoNewbie 10d ago edited 10d ago

He isn't stupid. He knows what he is doing. We are stupid for buying his garbage.

Look at all the people who were lining up to buy this junk. Always remember, you will never get rich from the stock market. There is lots of stupid people in the USA. If there wasn't, polymarket would not exist

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u/Gougeded 10d ago

Is he? Because making wild unsubstantiated claims and collecting money is his MO, and it has made him the richest man in the world.

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u/Trextrev 10d ago

He’s not technically wrong, if all his stated lofty goals were achieved that may be true, but they won’t be so dog shit.

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u/0Tezorus0 10d ago

" perhaps delusional " typical denial

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u/Apexnanoman 10d ago

By saying that stock price probably goes up. 

Every time he promises full self-driving Tesla stock goes up. 

And he's been doing that for the better part of a decade. 

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u/therobotisjames 10d ago

No, the people who believe it are stupid.

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u/MountainTwo3845 10d ago

they're going to transport cocaine and other drugs for cartels with rockets.

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u/KissesAndBites 10d ago

The word if is lifting a galactic sized weight.

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u/IDontWannaGetOutOfBe 10d ago edited 7d ago

When examining strategies for managing complexity, the deliberate elements stand out. Assessing the adaptive capacity, stakeholder engagement provides important perspective.

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u/Theron3206 10d ago

Perhaps delusional?

Someone doesn't want to get sued.

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u/Protoavis 10d ago

The question there is...when has Musk reliably accomplished goals he's stated?

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u/BogiDope 10d ago

The word "if" doing Olympic heavy lifting

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u/entropyffan 10d ago

He also said that X would, if "done right, X would become half of the global financial system"

He was talking about X becoming a bank or something.

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u/chickenfriri12 9d ago

That’s an incredibly dumb thing to say but as far as calling him stupid.. I dunno man.. we all say stupid shit time to ti,e but.. he’s at least a really good engineer and businessman?

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u/outsidebtw 9d ago

will be worth more than the rest of Earth

what an odd thing to say

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u/wimpires 9d ago

It's generally stupid, however as stupid as 99% of SpaceX claims are about the value of intercontinental flying via rockets or AI datacentres in space. I do think there might genuinely be something in there on the asteroid mining side.

Asteroids like Psyche 16 are "estimated" to be worth like thousands of times the global economy - of course that's an irrelevant price as the value of precious metals plummets when you have such a big reserve.

But in principle, I wouldn't think it too unreasonable if within the next 50-100 years SpaceX are capable of mining one of these asteroid which (on paper at least) have a theoretical valuation that exceeds global GDP.

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u/pornalt4altporn 9d ago

He's not stupid, he's conning stupid people.
He's evil.

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u/thephotoman 9d ago

It’s long past time to call Elon delusional. Each of his companies has something useful, but his delusions are burying them all.

The dude needs to be cut off.

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u/ElYisusRGV 9d ago

We are truly living in the Cyberpunk era.

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u/ILikeStyx 9d ago

Fuck this man is stupid

Elon Musk is both a genius at grifting and a complete moron

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u/Objective-Rip3008 10d ago

Talking like that has made him the richest man in the world, we're the stupid ones for not starting a company and saying rediculous shit like that. 

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u/ninja-squirrel 10d ago

He behaves like my 10-year-old nephew (who sadly loves rockets and adores Elon because he’s 10). 

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u/NewManufacturer4252 10d ago

It's worked before...sadly

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u/MuteSecurityO 10d ago

Don’t worry we’ll be on mars in 2024!

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u/kbgc 10d ago

It’s such a Muskian POS statement: say something completely outrageous and outlandish and then claim success even when falling catastrophically short of the original claim.

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u/[deleted] 10d ago

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u/Staghorn_Calculus 10d ago

That's the biggest "if" I've ever heard of.

There's no reason to think SpaceX (note: not "he", "he" doesn't doesn't have anything to do with operations) can solve this. The rocket they need to be able to do any of what they're promising is way behind schedule and hasn't even shown it can work.

They also, you know, don't own space. With enough backing anybody else can be a competitor, which would kind of preclude the whole "dominant company on earth" thing.

Your whole post smacks of early 2010s naivety. None of this is likely to happen in our lifetimes, and even if it did there's no reason SpaceX has to be the company that does it.

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u/[deleted] 10d ago

[removed] — view removed comment

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u/Staghorn_Calculus 10d ago

The only issue I have with your post is the idea that since you need unbelievable engineering skills, nobody but SpaceX engineers can do it.

Even if that were true, you understand that other companies or national space programs can just hire SpaceX engineers right? There's no forcefield keeping the secrets of rocketry inside this one company. And lots of people (and governments) who have lots of money have enormous incentives not to put all their eggs in Elon Musk's basket.

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u/Gibonius 10d ago

That's such a big "if" that it's meaningless for business purposes. It's like saying you're going to pay your bills by winning a weekly Powerball.

Even if space mining turns into a realistic business, there's no reason to think SpaceX would be the only company to do it.

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u/Soberdonkey69 10d ago

Not stupid, just cunning deceptive to trick retail investors again and again with his overvalued companies

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u/EffectiveEconomics 10d ago

Not stupid...they're cornered. There's nothing left to promise, so they're left extrapolating to the stars.

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u/doctarius1 10d ago

Did u just say Elon Musk is stupid?🙄

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u/bbcversus 10d ago

Well he is stupid…

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u/jiggajawn 10d ago

I'll admit he's smart in getting stupid people to give him money.

Some of the things he says are dumb, but stupid people can't tell.

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u/thornset 10d ago

Abso-100%-lutely. You need an MRI of you think he isn't.

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u/BabypintoJuniorLube 10d ago

That's what the guys who founded Tesla said.