cross-posted from: https://piefed.world/c/tech/p/1160169/a-danish-pension-fund-has-blacklisted-spacex-calling-it-grossly-overvalued-with-catastro
AkademikerPension will not buy SpaceX shares at any price near the $1.8 trillion IPO target, saying the company cannot reasonably be worth more than $1 trillion and that Musk’s voting control makes it effectively uninvestable
Me, looking around at every other company in existence: uhh… guys…
Theres overvalued with catastrophic governance, and then there’s everything Elon Musk is attached to. For example, Tesla is valued at 1.6 trillion - more than the next 29 car companies combined - and recently agreed an almost 1 trillion pay package which would be something like $130 000 per every Tesla ever sold.
No salary, and the stock value is contingent on the company meeting some ambitious goals over 10 years.
Unfortunately the article doesn’t say what happens if they don’t nor is it comparing to anything: are those goals as ambitious as they look when we’re talking 10 years? I don’t know
If you argue that musk’s talent is a reality distortion field creating bubbles, it has historically panned out pretty well. The original Tesla bubble was the reason they were able to grow fast enough to be where they are today
…. Personally I’m skeptical of most ai businesses surviving when that bubble pops, and I’m very skeptical of their being a market for a million humanoid robots that cost as much as a car
It’s made up value so he can borrow against it. You dont pay taxes on borrowed money.