SpaceX S-1

SpaceX just filed its S-1, the paperwork companies submit when they want to sell shares to the public, and the community reaction was less "to the moon" and more "show us the receipts". Yes, the company posted huge revenue — about $18.7 billion in 2025 — and plenty of commenters agree Starlink, its satellite internet business, looks like the part actually printing money. But the mood online turned spicy fast when readers got to the losses, the giant spending, and the eye-popping claim that SpaceX is chasing a total market worth $28.5 trillion. That number got instantly roasted as fantasy math, especially the $26.5 trillion AI slice, with one commenter basically saying, "be serious."

Then came the real drama: Elon Musk’s control. Commenters zeroed in on the filing showing Musk holds 85.1% of the voting power, and the phrase "self-dealing" started flying around like confetti at a shareholder nightmare. Critics argued the filing kills the myth that SpaceX is some absurdly profitable cash fountain, while others countered that the company is clearly making money in parts of the business and simply pouring it back into rockets and research. The nastiest subplot? People blaming Musk’s wider empire — X, formerly Twitter, and xAI — for dragging down the shiny parts. The jokes were brutal: "concrete shoes," "fugazzi," and a lot of sarcastic clapping for governance that sounds like one man owning the steering wheel, the brakes, and the map. In short: SpaceX dropped the paperwork, and the comment section launched first.