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Personal Finance Topics / Macroeconomic Trends and Risks
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Author: ajm101 🐝  😊 😞
Number: of 3942 
Subject: SpaceX S-1
Date: 05/20/26 9:45 PM
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No. of Recommendations: 10
I don't want to ask for a board for Space-X, but this IPO looks like a mess and this seems like the best place to talk about it. I have questions about it being a going concern in the long term, if the IPO doesn't happen.

The biggest cashflows are from the Anthropic datacenter rental. Equinix is right there if I wanted a datacenter REIT.

And Starlink. EBITDA seems off for measuring a service based on satellites being inexorable drawn into a fiery death in Earth's atmosphere. That feels like a very inflexible form of depreciation.

https://www.sec.gov/Archives/edgar/data/1181412/00...

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Author: AdrianC   😊 😞
Number: of 3942 
Subject: Re: SpaceX S-1
Date: 05/21/26 7:07 AM
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No. of Recommendations: 1
Related:

Worker Dies in SpaceX Incident
https://www.isssource.com/worker-dies-in-spacex-in...

The Browsnville Fire Department got the call to Starbase at 4:17 a.m. Friday, according to Chief Jarrett Sheldon, but they were waived off seven minutes later after being advised SpaceX’s emergency medical services were handling the situation.

The sheriff’s department assisted and OSHA has since took over the investigation, said Sheriff Manuel Treviño.
...
OSHA cited and fined SpaceX 17 times since 2021 for workplace safety violations at Starbase and McGregor in Texas as well as its sites in Washington and California.

SpaceX is also facing personal injury lawsuits stemming from safety violations.


Don't know if the injury rate is out of the ordinary for such a large construction. After reading Isaacson's biography of Musk I can see how safety might not be priority one at these facilities.
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