12 ms·
SpaceX hits $100B valuation after secondary share sale
- mchusma 5y agoIt feels like they should be able to finish Starship for under $10B, then should be able to print extreme amounts of money.
- huhtenberg 5y agoDoes anyone here have SpaceX shares?
- voakbasda 5y agoSomehow I don’t think the public will get a chance to own any shares.
- huhtenberg 5y agoSomeone in VC circles mentioned in passing that you can actually talk to SpaceX about an investment if it's in excess of several millions. Not sure of any other conditions though.
- ortusdux 5y agoAccording to Jared Isaacman, he originally spoke to SpaceX with the goal of investing. It was only after he was turned down that the idea of being their first civilian customer came up. It was easier for him to spend ~$200m to fly to space than it was to buy shares.
- javert 5y agoWhen did you hear that? I might try to get a few people together to do it. Super long shot, but no harm in asking.
- huhtenberg 5y agoSeveral weeks ago. I'll ask for details, will post here if I hear anything back.
- menzoic 5y ago4 friends and I have been wanting to do something like this. Keep us posted.
- deleted 5y ago[deleted]
- ericd 5y agoYour best bet is probably to talk to a broker that deals in private stock (such as Zanbato), and they can bring you potential deals as they come up. Note that you’re exceedingly unlikely to be able to be a direct shareholder, the deals are in SPVs that hold only SpaceX, and they come saddled with fees, so you need to be prepared to pay a premium.
- javert 5y agoThanks, much appreciated!
- purple_ferret 5y agoYou could have bought shares via someplace like Equity Zen if you had enough capital (like a couple million, I believe). Wealthy people do it all the time.
- voakbasda 5y agoThe wealthy are not “the public”. At best, they are a subset. And a small one at that. So, you are actually saying “the privileged gets shares, and the public gets the shaft”.
- ericd 5y agoMany FAANG junior engineers salaries qualify them as accredited investors. Definitely a small subset of the general population, but not particularly rare around here.
- bodhiandpysics1 5y agoI'm sure that there's at least one spacex employee with shares on hacker news!
- huhtenberg 5y agoI meant except for the employees, of course. That's not a terribly interesting case.
- modeless 5y agoI looked into it on Sharespost/Forge but opportunities are rare, minimums are high, and the terms are really bad. Upfront fees, yearly fees, carried interest. SpaceX shares have trading restrictions so employees generally can't just go around selling them on the secondary market.
- naveen99 5y agoI picked some up a few years ago for a 20% premium (thankfully no other ongoing fees). I don’t expect it to outperform my other ventures, but it’s like a collectors item. Hard to part with as some one who watched Star Trek as a child. So yeah if you wouldn’t sell after a 300% gain like me, maybe it’s worth paying a 50% premium (between the markup, carry, fees etc). but I am not buying more. It’s not like they give you priority bandwidth on starlink.
- loufe 5y agoI'm curious how the personal mission/ambition Elon has of SpaceX marries with fiduciary duty and shareholder expectations. If he is being honest, the true goal is "reach mars". There may not be money at the end of that tunnel.
- didgeoridoo 5y agoCommon misconception — fiduciary duty does not necessarily mean a duty to maximize profits. In Musk’s case, he has repeatedly stated that Mars is the goal, and that shareholders who aren’t interested in that goal should get off the ride.
- X6S1x6Okd1st 5y agoI'd really love to see an alternative history where A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits was not so influential. For anyone that's interested I'd really recommend just going back and reading the original piece, the regime of profits uber allis that we've lived under for decades is much stronger than even what he was arguing for in that piece.
- rafale 5y agoTo boost profits you have to provide more value (in a competitive field). And "more value = social benefit" has been a decent approximation so far. It's not guaranteed to hold true in the future though.
- whatshisface 5y agoA few enormous exceptions to the value = social benefit rule in recent times have been cigarettes, junk food, and the things that lead to superfund sites. We can't get so upset by cigarettes that we lump shelving manufacturers in with Phillip Morris, but we also can't get so excited about shelving that we lump Phillip Morris in with them.
- 5y ago
- jstsch 5y agoFor many years I've really wanted to buy (and hold) SpaceX shares. Such a shame it's not on the public market...
- mypastself 5y agoOwning Starlink shares is the closest you might get, but its IPO is still a few years away.
- toomuchtodo 5y agoFidelity has several funds with some SpaceX exposure. https://www.mrmarvinallen.com/what-fidelity-funds-hold-spacex/ https://www.mrmarvinallen.com/what-fidelity-funds-hold-space...
- whatshisface 5y agoI've made this comment before, but I have always wondered if there are enough linearly independent SpaceX-holding funds to construct a SpaceX-matching derivative product using only publicly traded securities.
- deleted 5y ago[deleted]
- airstrike 5y agoNot an expert, but I think one problem would be the redemption fees from needing to rebalance this portfolio of mutual funds
- whatshisface 5y agoIf only real life were as frictionless as arbitrage theory.
- airstrike 5y agoSadly that means having to put your money in a mutual fund which one may or may not want to for various reasons
- rich_sasha 5y agoNeed a new word... centacorn? Centaur?
- teh_klev 5y agoFrom the article: "SpaceX’s new valuation makes it one of the rare private “centicorn” or “hectocorn” companies in the world"
- gootler 5y agoElon is pure gold!
- ericmay 5y agoIs there a path to by shares if you are a small fish but accredited investor?
- trhway 5y agoI think it will be the first in history to hit 1T on IPO.
- simonebrunozzi 5y agoIs there any way to buy secondary shares of Space X? (or Stripe?)