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Brad DeLong Mastodon
The early money paid $75 billion for stakes in MuskWorld now marked at $1.57 trillion: 20x. But the cash flows to justify that do not exist. They are not on any horizon. So why? This is just plain weird. This is not NVIDIA, or TSMC, or Samsung, or ASML, or Apple, or any of the hyperscalers wth real cash flows: **Looking Askance Yet Again at MuskWorld: WEIRDNESS OF THE DAY** Musk torched one of his two profitable businesses and Starlink can’t carry anything like a $3 trillion valuation... 1/
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