Elon Musk to employees: Space X at risk for Bankruptcy

...to 36 times revenues.
He's appears to be driving SpaceX into a ditch, but the stock in the company he's in control of is trusted by the investment community, despite the lack of financial underpinning.
Jobs was a visionary too, but it was Sculley who engineered the financially sound explosion.
Might be a problem with Musk, too.

There is no money real profit in launch vehicles. That's why ULA was created in the first place. Starlink, however, could make $.

I would not be at all surprised to see Elon Musk's great experiment go down in flames. It has always seemed like one of those "Blue Sky Enterprises" sort of thing to me. He has certainly parlayed it into a going concern, but I'm not sure it's sustainable over the long term. Of course, Musk himself will survive any collapse just fine.

The bigger they are...

Now that the defense department needs Falcon IX, it's become too big to fail. Although, maybe not too big to nationalize and dump the bloatware.

I wouldn’t be surprised.

Could this be a ploy to declare bankruptcy and forget about the investments and then use it all as a tax write-off?

Wouldn't surprise me.

Declare Bankruptcy, pay NO taxes.

... Musk is a SUCCESSFUL crook.

millionaire, is to get into aerospace" is the old quote.

Spacex has been here before and pulled itself together. Maybe they can do it again.
Starship may be overly ambitious, but if they can make it work it's
lift capacity could accelerate human ability to access the inner solar system.

They do seem to take really the riskiest developmental approaches to the most difficult
technical endeavors.

A bit like Edison in some ways. Edison didn't treat people too well either.

Cheer for their failure if you like, but I'd worry that we might not see such opportunities
for quite a while if their wheels come off.

stimulus money?