SpaceX IPO Scandal
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 15 March 2026
⏱️ 29 minutes
🧾️ Download transcript
Summary
SpaceX is targeting a $1.75 trillion valuation for what could be the largest IPO in history. In this video, we examine how Elon Musk is folding a money-burning AI startup and a struggling social media platform into a rocket company to justify a price tag that defies financial gravity. From the engineering absurdity of "orbital data centers" and lunar railguns to the structural manipulation of the Nasdaq 100, we explore how low-float strategies and "fast-track" index inclusion rules are being used to turn passive 401(k) investors into exit liquidity for insiders. We look at the gap between EBITDA "vibes" and GAAP reality and the pivot from Mars to the Moon.
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Transcript
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| 0:00.0 | SpaceX is currently preparing for what's expected to be the largest IPO in history, |
| 0:05.7 | with a target valuation as high as $1.75 trillion. |
| 0:10.5 | To put that in perspective, that's larger than Meta or Tesla, and it would comfortably unseat |
| 0:16.5 | Saudi Aramco for the title of the biggest stock market debut of all time. |
| 0:21.6 | The offering is expected to see massive demand from retail investors, who have up until now |
| 0:27.9 | been unable to invest as the company's private. |
| 0:31.7 | Now, in the aerospace world, there's a very important distinction between astronomy and astrology. |
| 0:38.3 | Astronomy is the branch of science that uses math to calculate orbital mechanics, so your |
| 0:43.3 | multi-billion dollar rocket doesn't turn into a very expensive firework. |
| 0:47.3 | Astrology, on the other hand, is the belief that you should stay home from work next week, |
| 0:52.3 | because Jupiter's feeling a bit spicy. Usually |
| 0:56.0 | the people building rockets and the people casting horoscopes don't have very much in common. |
| 1:02.0 | Elon Musk obviously cares about astronomy, the science. He has after all spent decades talking |
| 1:08.8 | about the importance of going to Mars and building rockets. |
| 1:12.6 | We know that he also loves a bit of numerology too. No one finds the numbers 420 and 69 |
| 1:19.3 | funnier than Elon Musk does. With the IPO announcement, we've learned that he loves a bit of |
| 1:25.3 | astrology too. As SpaceX has reportedly set its sights on IPOing this June, because Jupiter, Venus and |
| 1:33.6 | Mercury will be forming a rare conjunction in the sky. |
| 1:37.9 | And I suppose that's auspicious. |
| 1:40.3 | On top of that, June also happens to be the month of Musk's 55th birthday. |
| 1:46.0 | And, to top it all off, there are rumours that the date being targeted is June the 9th. |
| 1:52.3 | Yep, that's right, June the 9th, or 6.9. |
... |
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