Aug. 19 at 11:19 AM
$SPCX The valuation concern is fair, but Rivian isn't a great apples-to-apples comparison. SpaceX already has major revenue-generating businesses, especially Starlink and launch services, while Rivian was largely a bet on future production.
The real question isn't whether SpaceX is expensive—it clearly is. It's whether Starlink, launches, Starship and AI infrastructure can eventually generate enough cash flow to justify today's valuation.
So yes, there's significant downside risk, but the Rivian comparison alone doesn't prove a 90% collapse is coming.
