u/tacspar

Just wanted to throw this out there for anyone that is looking for an unbiased explanation of how SpaceX makes money:

SpaceX generates revenue across three reporting segments: Connectivity, Space, and Al. The Connectivity segment, driven by Starlink, is the largest revenue driver, operating a high-speed, low-latency broadband network via approximately 9,600 satellites in low-Earth orbit and selling subscriptions to consumer, enterprise, and government customers globally, with hardware sales and enterprise contracts supplementing subscription revenue. The Space segment, the second-largest by revenue, provides launch services using Falcon 9 and Falcon Heavy rockets for commercial and government payloads, as well as crew and cargo transportation to the International Space Station under NASA contracts using the Dragon spacecraft. The Al segment, the newest and smallest by revenue, encompasses the Grok Al model, the Colossus GPU data center (which has secured large enterprise compute contracts), and the X social media platform. Connectivity is the only segment currently generating operating profit, effectively subsidizing the capital-intensive Space and Al segments.

As of Q1 2026, SpaceX reported total assets of approximately $102 billion, total liabilities of approximately $60.5 billion, and shareholders equity of approximately $41.6 billion, with total principal debt of $29.1 billion. The company held approximately $15.9 billion in cash at the end of Q1 2026, down sharply from $24.7 billion at the start of the quarter due to massive Al infrastructure capital expenditures. Operating cash flow was approximately $6.8 billion in 2025, driven almost entirely by Starlink subscription billings, but free cash flow was deeply negative as capital expenditures reached approximately $20.7 billion in 2025, with the gap funded through debt and equity raises. Capital allocation is heavily weighted toward Starship R&D, Starlink satellite manufacturing and constellation expansion, and Al compute infrastructure, with the $75 billion IPO proceeds intended to sustain this multi-year investment cycle.

Sources:

Yahoo Finance, Investopedia, SpaceX SEC filings, CNBC, Castello, Manus, Gemini

The Trump accounts just got released, meaning that every baby born in the U.S from January 1, 2025 to December 31, 2028, get an automatic 1,000 dollar seed from the U.S gov in an investment portfolio.

Trump accounts auto swept into SPYM, here's what I learned about why:

- SPYM's 0.02% expense ratio is the lowest among mainstream S&P 500 ETFs, and combined with its 321% 10-year return, it earned the fund the Trump Account default spot

- SPYM beats VOO on fees and matches its returns, while SPY's liquidity edge only matters for traders, not 18-year buy-and-hold accounts

- SPYM's 33% tech weighting and zero downside protection mean parents must stomach 30%-plus drawdowns to capture the 18-year growth thesis

Whats the impact here?

Take this whatever way you want, hate it, love it, I don't want boring picks you set and forget. Thats 95% of my portfolio.

I want to hear about the 5% stupid/awesome/somewhere in between stock picks that get you addicted to pulling up the ticker on your lunch break and in the middle of work.

Being honest for a second here, Indian corporate culture loves to do the "we are a family" thing, but it's basically an emotional trap. Companies use it to justify toxic work environments, and it allows them to pressure you into unpaid overtime, and make you feel horrible about putting down your resignation paper. And not all companies are a bad place to work, but when the push the family narrative it often means they are asking you to overlook some things you deserve as a worker.

Unfortunately, employment is strictly a business decision. Your xchanging your skills and time for a monthly check. That is where that relationship ends. If you stop being profitiable for your company, HR will lock you out of Slack and send you generic layoff email. It happens every single day across the Indian tech and corporate sectors as loyalty doesnt save anyone when profit dips.

My message is to stop feeling bad about leaving your current team or coworkers. They will be fine and would do the exact same thing if a 40% hike came their way. You don't owe your company anything beyond the notice period mentioned in your contract. Its the people you spend your days with in that company that you owe taking out for a drink.

If you have a better opportunity (better CTC, growth, healthier work-life balance, whatever...) TAKE IT. Look out for your real family. Your company can and will put up a job listing for your replacement right after you leave, but your family won't be able to replace a better income or more time with them.

I was looking to buy something unrelated to AI that is minimallly exposed to it to balence out my heavy QQQ positions. I also wanted to look outside the U.S and see what I could come up with.

I know Ferrari sounds like a crazy take, but when you look at it closely it is currently discounted because the overall market in Italy took a hit earlier in the year and it has some very attractive qualities.

Firstly, they intentionally under-supply the market and demand alwasy outstrips supply which gives them huge pricing power to raise costs without hurting their sales numbers. They also have insane margins operating as a luxury car brand rather than a standard car company, and their EBITDA margins are around 38% acting like a tech stock rather than traditional manufacturing.

Furthermore, they have a huge order backlog allowing most of their models to sell out years in advance leading to highly predictable revenue and being more recession-proof. Also the brand itself is so iconic that they have an almost irreplaceable moat, and if you believe that AI boom is going to make a lot of new millionaires and billionaires they will probably want to buy themselves some ferraris.

I was looking to buy something unrelated to AI that is minimallly exposed to it to balence out my heavy QQQ positions. I also wanted to look outside the U.S and see what I could come up with.

I know Ferrari sounds like a crazy take, but when you look at it closely it is currently discounted because the overall market in Italy took a hit earlier in the year and it has some very attractive qualities.

Firstly, they intentionally under-supply the market and demand alwasy outstrips supply which gives them huge pricing power to raise costs without hurting their sales numbers. They also have insane margins operating as a luxury car brand rather than a standard car company, and their EBITDA margins are around 38% acting like a tech stock rather than traditional manufacturing.

Furthermore, they have a huge order backlog allowing most of their models to sell out years in advance leading to highly predictable revenue and being more recession-proof. Also the brand itself is so iconic that they have an almost irreplaceable moat, and if you believe that AI boom is going to make a lot of new millionaires and billionaires they will probably want to buy themselves some ferraris.

I've heard a lot about how important it is to start investing early because it gives your money the longest time to compound in the market, but realistically when do people start selling their long-term investments. When you retire, before you retire in order to retire early, after? I'm realizing that I don't have a good forecast on when I will actually see my market returns (like tangible cash), and the difference between pulling any percentage out a year before I retire and a year after could be tens of thousands or even hundreds of thousands.

When do people think they will begin to liquidate parts or all of their investment portfolios?

Hi everyone, just wanted to reach out for some suggestions as I have been tracking all my finances (income, costs, subscriptions, debt payments...ect) in google sheets. My bank can handle some of my accounts but I don't like the UI of how it shows it to me and it doesn't include my accounts in other banks as well as things like venmo and zelle.

Every month I update everything in my google sheet which is relatively well organized, but it takes quite a bit of time and is a real pain. I assume there are apps out there that do everything for you but I would prefer to just do it on my own in a better way/template. Any suggestions for apps/programs that make it easier or for switching up my system? I feel like its going to be a pain to reorganize so I only want to have to do it once (ie why I haven't tried anything else yet)

Recently I have been looking to diversify away from from VOO and VXUS, more just for fun than anything else but I am curious if anyone has experience tracking currencies like the euro or something more exciting or minerals/natural resources?

Just interested in going further than stock or bond etfs and wondering if they are higher maintenance and what the avg returns look like?

Iran just announced they are re-closing the Strait of Hormuz, which pretty quickly halted the drop we were seeing in oil prices. MOU looking less strong now, and market was up on expectation of peace deal, now looking like a fresh spike in Brent Crude and WTI oil futures...

Could cause central banks to continue interest rate-hiking cycles, curious if people see a correction coming Monday, and if so how big of one?

Looks like the MOU might not have solved all of our problems here. Iran closed Strait again, abruptly halting the cooling of oil prices.

Before this announcement today, crude oil prices were down due to expectations of a long-term peace deal. Sudden re-closure threatening to trigger fresh spikes in Brent Crude and WTI oil futures, also could renew inflation fears that would force central banks to continue interest rate-hiking cycles.

S&P was up 80 points on Thursday, imo looking at a large correction when it opens on Monday. Curious how severe people think the correction will be (if you guys think there will be one at all)?

Pizza Hut got sold by its parent company Yum Brands to private equity, analysts saying that part of the reason it was on the decline is because of weight loss drugs. Is this the first indicator of a larger market trend away from unhealthy/fast food chains?

Obviously not super worried about Americans losing their appetite for fast food, but there has been a reduction and I’m curious if this Pizza Hut sale represents a larger decrease in consumer discretionary and if people would lessen their exposure to it?

Im really torn on whether this is a buy or not so curious what people think about the Warner Bros Discovery (WBD) merger valued at $110 billion.

On one hand, we're talking about two of the largest content libraries on earth merging and becoming a huge problem for Netflix, also billions projected to be saved by shared infrastructure and overhead streamlining. Also backed by Larry Ellison which leads to U.S fed gov support...

But at the same time NY and CA announced anti-trust lawsuits and media mergers notoriously have a ton of debt. Also worried about potential volatility with the lawsuits and the Skydance ticking fee deadline ($.25 per share per quarter that deal remains open), and obviously a large valuation. EBITDA multiple also would also sit higher without cost-saving projections from merger due to Paramount paying extra to beat out Netflix.

Anyways, interested to see if I'm missing anything obvious here...

Firstly ceasefire deal isn't the right term because all the U.S and Iran did was sign an MOU (Memorandum of Understanding) which is a non-binding agreement, not even for the deal itself but for the foundation a deal would be created upon.

And yes, the U.S and Iran are lifting their naval blockades of the Strait of Hormuz, which should very quickly boost oil trade and supply.

HOWEVER, the market has jumped an outsized amount due to sentiments of relief and anticipation of a deal rather than due to actual oil supply adjustments. Also, historically MOUs have a poor conversion rate to long-term peace treaties, and as we've seen before both countries have a tendency to re-engage when cooperation is low (which it has been for some time). Furthermore, this deal does not apply to Israel which continues to carry out strikes against Iran backed forces in Lebanon, and could theoretically continue operations against Iran, delaying a nuclear deal with the U.S and leading to a Strait re-closure.

Imo, this is the first step towards an eventual peace agreement and a stronger market, however there will be more bumps along the way that cause market volatility and dips that wipe out some or much of the gains created from this ceasefire rally, but curious what thoughts everyone else has?

Look people can choose where to put their money and if they like having someone to talk to about it and not having to think one ounce, then I have no problem with it.

But recently I came across an add from a wealth management fund promoting how they beat the S&P by almost 10% last year. When I looked into their past performance however, I realized that this was one of only a few years they had beaten the S&P and historically performed 5-6% below it.

So clearly this is deceptive marketing aimed at tricking people who don’t have enough sense to look at the data. Putting it out there now to say I don’t see any validity in these funds but curious if people would disagree.

I just don’t understand how with this data, that >85% of professional firms fail to beat the market, people still invest with them??

To clarify, I am not talking about low cost ETFs like VOO or a similar S&P tracker, only about funds that are actively managed and take like 1-2% or more.

A bunch of buddies of mine decided to buy SpaceX IPO at 135 and took it personally when I said I wasn't touching it. Now that its up 20+%, I've been getting a lot of chirps from them that I have no clue what I am talking about.

Holding strong to the idea that the 4% free float is keeping demand artificially high and other factors preventing drops for a while (maybe even months). But I don't feel like I have a good timeline on when to expect a correction (if there is one).

Thoughts on timeline for a correction, if theres one happening at all?

Just curious on everyone's thoughts on the fact that SpaceX is only offering like 4-5% public free float, Musk retaining 82% of voting control through class B shares.

Obviously could trigger huge price swings and volatility, but curious if people see this as an attempt to shoot up demand in an already overvalued market??

Just curious on everyone's thoughts on the fact that SpaceX is only offering like 4-5% public free float, Musk retaining 82% of voting control through class B shares.

Obviously could trigger huge price swings and volatility, but curious if people see this as an attempt to shoot up demand in an already overvalued market??