George Ferguson
speaker
39 appearances
2 recordings
1 series
first heard Jun 2026
last heard 28 Jul
George Ferguson’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
Yes, I mean, again, we looked really at market comparables, and so from a space launch perspective, Rocket Lab's in the marketplace, and it's about an 80 to 90 times revenue number on Rocket Lab's valuation.
And so we think that SpaceX...
If you plussed up the revenue inside the launch business for the launch they're doing internally, because they don't book that in the revenue line, it's about $11 billion of revenue.
And we plugged sort of an 80 to 90 multiple on that and got about a trillion dollars in value at a launch, potentially.
And then the other businesses like Starlink, I have colleagues here at Bloomberg Intelligence that are much smarter at that and did that valuation, but Starlink kind of came in 30 to 40 times revenue based on some of their comparables.
It's not a lot of the value, it's another sort of 600 billion.
And then the AI business came in around $400 billion, and that's Mandeep Singh, and there's a lot of voodoo, I think, inside value in AI companies.
There's a lot of loss in there.
I can't totally figure out how he does that.
Sorry, I cut the very tail of the lockup.
How much of an issue is that?
lockup
I mean,
I think there's... In any IPO, there's always this challenge that as you come out of the hype of the IPO, you'll see prices sort of fall on it.
And yeah, I...
You know, I think, though, there's going to be a lot of hype around SpaceX.
It doesn't mean I think the shares will hold the value that they're coming out of the IPO at.
But I also think, again, it's a big enough player, and it's in AI, launch, and in connectivity, that I think you should see maybe some of that hangover afterwards being less of an issue.
But for sure, I think you'll run into some challenges.
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