The SpaceX IPO Will Be the Theft of the Century

SpaceX's IPO hinges on Starship's ability to launch heavier V3 Starlink satellites and support NASA's Artemis program. The latest Version 3 Starship reached only 121 miles in altitude, falling short of the 300-mile orbit needed. Lockett calculates the version is functionally useless for orbital missions. SpaceX's claimed addressable market is 93% tied to xAI's Grok product, which its engineers do not use. xAI spends $60 billion to acquire Cursor to integrate it into its systems.