The idea that now SpaceX and Tesla are now related is inevitable.
If SpaceX crashes it will drag Tesla with it.
And the odds are high.
A trillion dollar company on just $20B of revenue
SpaceX Financial Snapshot (2025)
Metric
Amount
Revenue
\~$18.7 billion
Adjusted EBITDA
\~$6.6 billion
Net Income
-$4.9 billion
Capital Expenditures
\~$20.7 billion
Starlink Revenue
\~$11.4 billion
Launch Revenue
\~$4.1 billion
Subscribers (Starlink)
9–10+ million
It's even worse when you think they are not even close to any form of profitability
I think the only thing maintaining it the AI bubble how many pop soon or not.