>"We live in a strange time when a company that has successfully flown useful cargo into space on their own hardware has a valuation around 50%" We continue to

>"We live in a strange time when a company that has successfully flown useful cargo into space on their own hardware has a valuation around 50%" We continue to live in a strange time where people speak of "deserved" valuations without ever talking about future potential profits, both for space companies and even messaging apps. Elsewhere in the comments, someone said that SpaceX will will simply "go public" to raise the money for Mars (sidenote: that must be an SV thing, to talk as if "going public" is like going to the ATM). Well, who in the public is going to invest without having some idea of what the business model here is, with a reasonable expectation of profits for the undertaken risk? Look, I'm fascinated by the work SpaceX is doing too, but I need something more concrete than a bunch of loose ideas ("Mine asteroids! Launch satellites!") before I'd turn over my money. It will probably (hopefully) happen eventually, but until then any valuation is meaningless, high or low.