'Programmed For War': Why SpaceX Bulls Are Betting On Elon Again

As SpaceX goes public, investors are betting on Elon Musk's track record of turning ambitious visions into reality rather than traditional valuation metrics. Bulls highlight Musk's ability to navigate near-disasters at Tesla and SpaceX, and point to long-term opportunities including reusable Starship rockets, space-based data centers, and Starlink connectivity. The investment thesis compares SpaceX to Amazon—a narrative stock bought for vision and growth potential rather than near-term profits.