Wilfred (Wilf) Frost

speaker

2,338 appearances 15 recordings 1 series first heard May 2026 last heard 3 Aug

Wilfred (Wilf) Frost’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 15 in all, peaking in Jun 2026 with 6.

Appearances

newest first · ▶ plays the moment

The Master Investor Podcast with Wilfred Frost · Should You Buy Space X? | IPO Special · 9 Jun 2026 podcast

Let's start with the positives in your research note, which is well worth a read and is, by the way, available publicly. voice-verified

We'll put the link in the show notes. voice-verified

The space business, you think, is unique and has an incredibly strong moat. voice-verified

And in this part of the business, therefore, although it's an expensive business launching things into space, they have a significant cost advantage compared to anybody else. voice-verified

In terms of a sort of positive but perhaps not as positive is Starlink, that's generating a lot of cash for them at the moment in a positive way? voice-verified

So let's move on to the kind of more negative side in your view, and that's then the AI business, which is both a lot more competitive, the likes of OpenAI and Anthropic to name just two, who most people would see as ahead of them, and is also very expensive, consuming a lot of capital and doesn't have the same kind of cost advantages as the space business. voice-verified

And obviously, to stay the obvious, you know, following what we're discussing with Morgan, you know, the big part of that total addressable market is therefore in the business, which you think has the least protective moat in the AI part of the business. voice-verified

In terms of the capital consumption in the years ahead, like, is that what all the money they're raising is going to go towards to this part of the business? voice-verified

Now, obviously, those are the sort of three core parts of the business that we've been touching on. voice-verified

In the S1, there are other sort of moonshots, if you will, or Mars shots, maybe we should call them, which I guess could be successful. voice-verified

But where do you stand on those? voice-verified

And I guess the sort of moonshot, mileshot options aren't going to be the critical thing on the valuation, no matter what. voice-verified

The key, is it fair to say, reason why your price target is half or slightly below half of the $135 price target is what your kind of ascribed execution risk to that AI part of the business. voice-verified

That's the single biggest reason there's a gap, is it? voice-verified

And in that moonshot scenario, what valuation do you get to? voice-verified

So that's the forward looking kind of route to justify the valuation. voice-verified

Just dwell for us on the backward looking point. voice-verified

Where has the valuation come from in the last year or two when it was, you know, just not insiders per se, but core early investors funding this company compared to now broadening out to everybody? voice-verified

I agree. voice-verified

And that is why, Nicholas, we've had you on to this special episode of the Master Investor Podcast focused on the SpaceX IPO. voice-verified

Showing 1381–1400 of 2,338 · page 70 of 117