this post was submitted on 21 Jul 2024
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This is just straight up not true. SpaceX is worth 210b and Tesla is at 712b. It's not even close. I think you really need to ask yourself why you're willing to either lie or be so easily manipulated into believing a lie and then circulating it just to try and make Musk look better to Internet strangers. 2 seconds of searching to find out that this is not true but you didn't even think about it. Why is that?
This is a fairly infamous troll account. Everything they post is demonstrably untrue and commonly inflammatory.
It caught a live one
Totally unnecessary. You're comparing a publicly traded company running on memes and a strange cult of personality to private valuation.
Now that China and other domestic competitors have ramped up EV production Tesla's dominance of the niche is going to fall, especially considering the flop that was the Cybertruck and the brand damage Elon has committed.
We are already seeing protectionist measures being enacted for the EV sector.
In short, SpaceX and Starlink have a market to dominate (whether we want it to or not, it seems) while Tesla, a grossly overvalued company, is only going to see more competition and deepened irrelevancy.
The ROI on electric vehicles dwarfs the SpaceX program. Whether Tesla flounders or not, the car market is more profitable (and therefore more valuable) both by the marginal return on units and the industry market cap.
Starlink might keep an edge over Chinese and Indian programs (doubtful, since India can send a probe to Mars for $75M). But the global satellite market was $4.23B last year. The global car market was $578B.
Orders of magnitude different.
That's true, however Tesla's relevance in that market has really dwindled:
Tesla gross profit for the quarter ending March 31, 2024 was $3.696B, a 18.07% decline year-over-year. Tesla gross profit for the twelve months ending March 31, 2024 was $16.845B, a 15.37% decline year-over-year. Tesla annual gross profit for 2023 was $17.66B, a 15.31% decline from 2022.
The thing is SpaceX and Starlink have weathered the Elon Musk storm. Starlink was predicted to make $6.6B in revs of, as you said, a market that is currently much smaller. Sure, it's not profit and firing things into space isn't cheap (nor desirable and should be legislated against). However, they're filling the niche and as EV manufacture ramps up, and with Tesla's image tainted, I do think Musk (and those around him) will be looking a bit more towards the steady government money.