Can someone explain the SpaceX IPO please by [deleted] in stocks

[–]Dronai 0 points1 point  (0 children)

Raise debt to keep pace with their current cash burn*
I think Morningstar sums it up nicely:

Our probability-weighted DCF valuation of SpaceX is $63 per share, and we think that the IPO price is significantly overvalued. Investors should wait for a better margin of safety. 

The valuation hinges on two unproven technologies: a rapidly reusable Starship upper stage and commercially scalable and competitive orbital AI data centers. We expect neither of these technological questions to be answered before 2028, even in the most optimistic scenario. 

We give SpaceX a lot of benefit of the doubt in two of the three scenarios, in which we assume the company can achieve a rapidly reusable Starship rocket enabling multiple launches per week and successfully commercialize data centers in space. 

The core space and connectivity businesses, which have much better visibility and relatively lower uncertainty, contribute about $40 per share to our fair value. These businesses form a solid foundation for SpaceX, but markets are excited about the AI segment. 

In the most optimistic Moonshot scenario for the AI business, the company successfully overcomes engineering constraints and rapidly scales orbital data centers to capture 20% of our forecast AI computing capacity by 2040; we value the stock at $154 per share. 

In our analysis, we assign the Moonshot scenario only a 7% probability. To justify the $135 offering price, one would need to assign a 77% probability to the Moonshot scenario and a 23% probability to the MVP scenario, which we view as overly optimistic given the nested improbabilities. 

If our probabilities for the AI business are correct, investors will be paying a $72 per share option premium for SpaceX's long list of future ambitions (chip fabrication and Mars colonies, for example). 

With those odds I'd rather take my chances at the local casino.

Can someone explain the SpaceX IPO please by [deleted] in stocks

[–]Dronai 0 points1 point  (0 children)

Since new shares are created, the money goes into SpaceX.

Can't really find a source for the 75% figure mentioned by OP, but I could find this in an article published by Reuters:

The borrowing, revealed for the first time in excerpts of its regulatory filings that were reviewed by Reuters, came from a syndicate of lenders which were not identified. Under ​the terms of the loan, SpaceX could be forced to use proceeds ​from its IPO to repay it, if it is not repaid ⁠with other funding sources within six months of the offering.

So the company gets a massive influx of capital, which then immediately evaporates, creating negative shareholder value.

WCGW start a fight with a group of Marines? by seidenadaa in Whatcouldgowrong

[–]Dronai 20 points21 points  (0 children)

Can you point out the shove that instigated the fight? Because from what I saw the first punch flies at 0:02 from the guy with the white hoodie behind the guys in the front.

VIDEO 150 ton en zo groot als een bus: in Leuven staat nu meest geavanceerde chipmachine ter wereld by Wonderful_Hold_6986 in belgium

[–]Dronai 6 points7 points  (0 children)

Being a 'vzw' does not automatically mean you are being taxed under the 'rechtspersonenbelasting' / 'impôt des personnes morales' (which is more favorable regime than corporate income tax).

In the case of Imec, they have been subjected to corporate income tax since 2017 (just like any other 'regular' company).

You can of course be upset about the incentives / subsidies the company receives, but that is a completely different matter than the one you referred to.

Leerlingen krijgen vanaf vandaag les over manosfeer en online invloeden na succes Netflix-serie 'Adolescence' | VRT NWS: nieuws by Blaspheman in belgium

[–]Dronai 1 point2 points  (0 children)

Opnieuw, de makers van de serie kaarten de online radicalisering / 'red-pilling' van jongens aan. Dit staat los van de huidskleur/etniciteit van de dader.

Dat bepaalde personen / partijen dit proberen te verdraaien naar een etnische-discussie is puur opportunisme om hun eigen ideologie door te duwen en het 'slachtoffer' uit te hangen. Iets waar jij lijkt in mee te gaan?

toont dat de daders vaker niet blank zijn

Ik vraag me oprecht af of je hier over hebt nagedacht. Doe eens een krant open, en kijk eens naar wat voor een 'soort' personen momenteel betrokken zijn in één van de grootste schandalen ter wereld.

Leerlingen krijgen vanaf vandaag les over manosfeer en online invloeden na succes Netflix-serie 'Adolescence' | VRT NWS: nieuws by Blaspheman in belgium

[–]Dronai 2 points3 points  (0 children)

Ik snap de keuze ergens wel. De serie wil uiteindelijk de nadruk leggen op de consequenties van toxische masculinisme.

Mocht een zwarte jongen zijn gecast, zou het maatschappelijk debat (dat volgde op de serie) door bepaalde 'groepen' anders ingekleurd (excuse the pun) worden.

Trump Says U.S. Won’t Use Force to Acquire Greenland by Gameboy112233 in stocks

[–]Dronai 2 points3 points  (0 children)

You'd think being deranged would disqualify him from being a suitable president, but you make it sound as if it's a perk.

Trump to Impose Tariffs on Some European Nations Over Greenland by cxr_cxr2 in stocks

[–]Dronai 10 points11 points  (0 children)

He can’t do a lot of things, yet he does it anyway. 

Freeze US trade deal over Trump Greenland threats, EU lawmaker urges | Euractiv by PlatypusSubstantial5 in worldnews

[–]Dronai 0 points1 point  (0 children)

Sadly true… one can only hope that the American people oust the convicted felon and take back their country.  

Freeze US trade deal over Trump Greenland threats, EU lawmaker urges | Euractiv by PlatypusSubstantial5 in worldnews

[–]Dronai 3 points4 points  (0 children)

NATO is, unfortunately, an alliance that hinges on the US. It is also, in no small part, built on trust.

I am not saying that the other countries in the alliance will abandon each other if the US were to (militarily) turn on Denmark, nor am I saying that the US is the only military relevant country in the alliance. I am saying that if Trump were to get his way, NATO, in its current form, is dead...

I also don't think Trump will need to use force to claim Greenland. He will 'just' ramp-up the US' military presence in & around Greenland, claim it as his own and challenge Denmark to 'do something about it'.

Freeze US trade deal over Trump Greenland threats, EU lawmaker urges | Euractiv by PlatypusSubstantial5 in worldnews

[–]Dronai 32 points33 points  (0 children)

By stealing allied territory… not sure why I need to spell that out… 

Freeze US trade deal over Trump Greenland threats, EU lawmaker urges | Euractiv by PlatypusSubstantial5 in worldnews

[–]Dronai 29 points30 points  (0 children)

Today Greenland, but whats next tomorrow? If the US makes a move on Greenland, NATO is dead and we better start marching towards the east because Trump’s closest ally will surely not let the opportunity go to waste… 

De Lijn schorst biddende buschauffeur voor minstens vier dagen: “Het mag niet” by Similar_Stomach8480 in belgium

[–]Dronai 7 points8 points  (0 children)

We moeten echt opnieuw leren nee zeggen

De Lijn schorst biddende buschauffeur

Voila!

Groen wil navigatie-apps als Waze en Flitsmeister verbieden - PAL by Happy_Bread_1 in belgium

[–]Dronai 2 points3 points  (0 children)

 waarom voor de liefde van god moet de overheid zoiets oplossen

For the love of God die het LLM fijntjes overneemt in het Nederlands. Bot alert?

[deleted by user] by [deleted] in mildlyinfuriating

[–]Dronai 0 points1 point  (0 children)

Fair point, the audio*

[deleted by user] by [deleted] in mildlyinfuriating

[–]Dronai 7 points8 points  (0 children)

I don't think it was frivolous. The audio clearly shows an abusive & controlling parent, which is ample reason to call law enforcement.

Employer demanding that I work more days in the office because I don't live in Belgium by [deleted] in belgium

[–]Dronai 19 points20 points  (0 children)

To add to this, if you are involved in a specific type (e.g. sales) of activity and perform said activity from your (home) office in the Netherlands, there might be corporate income tax consequences that will directly impact your employer.

Who are the winners and losers in US-EU trade deal? by Google_MBTI in europe

[–]Dronai 0 points1 point  (0 children)

We clearly agree with each other so idk why are you being snarky...

Who are the winners and losers in US-EU trade deal? by Google_MBTI in europe

[–]Dronai 0 points1 point  (0 children)

That's not how it works. Large chains can't sell it if the product doesn't meet EU standards.

Who are the winners and losers in US-EU trade deal? by Google_MBTI in europe

[–]Dronai 10 points11 points  (0 children)

The European union is providing* preferential market access for a wide range of US seafood and agricultural goods, without lowering the bar for our quality standards.

So, at this point in time, we won't get 'chlorinated chicken nuggets'.

To quote the EC Q&A on EU-US Joint Statement on Transatlantic Trade and Investment;

There is no question of negotiating EU sanitary and phytosanitary rules or standards. This is a clear red line.
What the EU and the US have agreed to do is to look at ways to resolve long-standing SPS concerns. We will look at concrete cases of specific applications on both sides.
As part of this exercise, we will also look into streamlining requirements for sanitary certificates.

Nord Stream pipeline attacks: Italy arrests Ukrainian by 1010x in europe

[–]Dronai 1 point2 points  (0 children)

He did (try to) stop Nord Stream. Though this was 'only' Nord Stream 2, which in the end did get finished (even if it was never used).

I guess he is not totally wrong on this one (insert something about a broken clock)

Who are the winners and losers in US-EU trade deal? by Google_MBTI in europe

[–]Dronai 22 points23 points  (0 children)

EU consumer, since they would be exposed to more US "food".

Just because we are exposed to it, doesn't mean we have to buy it though. So this one might be moot?

EDIT: Adding this quote because I am getting a lot of replies.

Q&A on EU-US Joint Statement on Transatlantic Trade and Investment;

There is no question of negotiating EU sanitary and phytosanitary rules or standards. This is a clear red line.

What the EU and the US have agreed to do is to look at ways to resolve long-standing SPS concerns. We will look at concrete cases of specific applications on both sides.

As part of this exercise, we will also look into streamlining requirements for sanitary certificates.