Ryan Mac

Why am I holding this stock?

Why was it in these indexes to begin with?

Right.

When you think about that, you have to think about what kind of business is essentially holding up those valuations.

With an IPO, every company has to file what's called an S-1 to disclose their financial health and their projections for the future.

And so I've been covering Elon Musk for many years now.

This is the first time I've been able to see the full picture of what's going on at SpaceX.

And after spending a couple of days with this document, which is 277 pages, I and many others just have a lot of questions as to whether or not the business that we're seeing here, the numbers that it's putting up, can justify these trillion dollar valuations that people will be investing in.

We'll be right back.

I think the answer to that is that it's quite complicated.

There are some positives about this business, and there are a lot of question marks or negatives about this business as well.

Sure.

So let's start with the crown jewel of the company, which right now appears to be Starlink.

This is the company's satellite internet service.

The company has launched these satellites that circle the earth and the satellites beam down internet service to people on the ground.

It's now racked up about 10 million users and about $4.4 billion in profit last year.

And that's because the company dominates the launch business.

That was essentially the business that SpaceX was founded on, this idea that it could privatize rocket launches, essentially, that were owned by NASA and the government at the time.

And that bet has paid off well.

You know, the company now dominates that market.