SpaceX pitches itself as integrated interplanetary proto-monopolist in IPO filing
Aims for the stars while burning cash and blowing deadlines on Earth
SpaceX has filed paperwork for its long-awaited initial public offering and made the argument that its unique combination of activities and “focus on extreme vertical integration” make it worthy of investors’ cash despite hefty losses.
The company’s filing offers the usual Muskian tropes about the company’s purpose being to ensure human consciousness can reach the stars, a voyage that’s only possible with cheap reusable rockets, powerful AI operating in space where energy is abundant, and efficient manufacturing at astronomical scale.
Only SpaceX, the document argues, can do it all.
The company says it became the world’s premier launch outfit by operating vertically integrated design and in-house manufacturing that means it can crank out the parts needed to build and improve its rockets faster than anyone else – and without being dependent on slow-moving supply chains.
That manufacturing capability...
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