I'm sure Musk will ask for a bailout.
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Make laws that banks can't lend against imaginary wealth. Let billionares pay for their own shit.
Just make borrowing against it "realise" it for tax purposes. You want to borrow against $100M in stock. The stock has now been realised and taxes are owed on it. It would close the massive loophole that big business and billionaires abuse to avoid paying their share.
Yes, let's blame all of that on the elections... They had shit bond yields before that already, it just got worse.
"Companies have been reckless doing whatever the hell they wanted but now with the smallest amount of scrutiny everyone panics"
Tells me you don't have a strong business then.
Smallest amount of scrutiny that hasn't even happened yet and isn't even guaranteed if Jeffries and Schumer get in the way
Yeah, this is the reaction to just a tiny change in the investor expectations on the industry being under scrutiny and not just unconditionally saved with taxpayer's money like in the 2008 Crash around (when, by the way, there was a Democrat administration in power which unconditionally save the entire industry that had fucked things up massivelly, thus protecting the value of the Assets of the ultra-rich, hence the huge growth in inequality in the following decade).
If there's one thing the response to the 2008 Crash taught the people which have most of the money is that governments can and will have the general population endure massive pain in order to save the value of the Assets of the billionaires (and thus their wealth) and people won't do jack shit about it beyond a few demonstrations where they peacefully complain and still get assaulted by some of the most violent and sadistic pigs around.
So I expect this is entirelly about a change in the expectations of how likely public money is going to be used to save AI "investors" and AI companies (all that paid with Austerity for the riff-raff) from all the reckless done by those companies and not at all about those with all the money suddenly discovering that the industry was reckless - I'm pretty sure they were well aware of that already.
SpaceX going bust would be so awesome!!
im a bit conflicted. hate the sattelites but like the reusable rockets. I mean the tech is already out there so im sure someone would take up the slack. unfortunately there are likely to be half a dozen different sattelite internet swarms eventually regardless.
I mean the tech is already out there so im sure someone would take up the slack.
The Chinese companies are running with Falcon 9 style reuse. Additionally, US company Blue Origin has successfully flown a scaled-up Falcon 9 style reuse rocket. US company Rocketlab also has a slightly scaled up Falcon 9 style reuse rocket in the works scheduled to fly for the first time in 2027.
The bubble has been pumped up so high and for so long that we're not even near the point were those who jumped into it in January are actually losing money, much less those who jumped into it 2 or more years ago started fearing that they'll lose money in their "investment".
You do see the professionals changing their posture (especially in the Money Markets), but the rout hasn't started yet, IMHO.
Confusingly, SpaceX has announce to the launch market it is stopping flying workhorse Falcon 9 rocket in the near future even while the market for launch services is at an all-time-high.
I get they they're trying to transition to their larger Starship rocket, but right now the rocket only achieved orbit about two weeks ago for the first time. Further, the current version of Starship can't launch traditional satellites. It is designed specifically for SpaceX's "flatpack" style of satellite which no one else uses at this time. So even SpaceX says "Starship is open for customers!", it can't fly the current payloads customers have today.
So if SpaceX is having this much money trouble it seems like bad business to stop flying the profitable Falcon 9 rocket when the launch market is screaming to buy more of it at top dollar.



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