this post was submitted on 19 Jun 2026
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The valuation of the stock is based on Musk doing what he's always done, which is making seemingly impossible promises sometime in the future.
You know what he promised by 2025? A fleet of driverless Tesla taxis. xAI producing the first AGI. A human being on Mars planting a flag.
You know what the evaluation of SpaceX is based on? The promise of a Mars colony with one million human inhabitants, and space-based data centers. It's going to be decades before it's worth the IPO, if ever.
In the meantime SpaceX is in debt 20 billion, and is bleeding money. It lost $4.94 billion in 2025.
So it looks to me like a private equity project. Like Toys 'R Us or Radio Shack or Claire's. Remember those?
And Nasdaq-100 is fast-tracking SpaceX into its portfolio after 15 days. Soon, pension funds and 401(k)s are going to feature SpaceX stocks. So when it does implode, a lot of worker-class folk are going to eat the loss.
You know who I bet will not be eating the loss? Trillionaire Elon Musk.
Jesus Christ thank you for reminding me to confirm I keep his shit as far away from my pension as possible. Thankfully I'm in Canada so I feel there's a hope
Narrator: He was wrong.
Disagree with my pension and my RRSP I do have options for how I want to distribute my investments for example focusing on Canada or Europe or BRIC for investments or even dumping your money into a less risky but more stable money market. They're pretty diverse now.
Other guys comment, and the note about pension funds, is more about how things like the CPP will invest in SpaceX -- as will many ETF/bundled type 'funds' that people use. Things practically outside your control.
Yes, you and others can invest your personal wealth into whatever you want. But your gov old age stuff will invest into stuff like SpaceX regardless, and be exposed to potential risks should things collapse catastrophically.
CPP is mandated to make a set return for the Canadian people and it's pretty loose on now they do that. I agree it's concerning them looking at morally questionable companies but money wants to make money and I would argue Canadians care more about having money for their retirement than they do the companies they're investing in.
Case in point since Trump 45 we should have been collectively divesting in America yes we haven't. American companies even hostile ones still have a huge economic edge. I expect the CPP to be pragmatic and not invest based on their morals all the time. That makes for bad finances. Sucks but sadly this is the world.
So the narrator was correct?