Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
SpaceX has been acting like Tesla. Musk’s moves with his private space venture have been reminiscent of his management of Tesla during its time as a public company. Will this enhance the likelihood of SpaceX’s success or doom it?
Tesla is the world’s most over-analyzed natural experiment in what happens when a charismatic founder bends a public company’s capital allocation, product timelines, and disclosure practices around his personal portfolio of side bets. The good news for SpaceX investors is that we have twenty-six years of receipts. The bad news for SpaceX investors is the same.
The parallels are worth taking seriously given their consequences for Tesla and the implications for SpaceX.
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