This is exactly the crab mentality that holds back investment in deeptech in India. 10 uncles will want board seats and there ends innovation.
The writer here seems to not realise that SpaceX is currently sitting on the most precious intellectual property and engineering knowhow on the planet. And it's proven stuff - simply their Falcon 9 rocket is light years ahead of anyone. The new Starship will haul ridiculous tonnage to LEO for the new space economy - essentially a single source Uber for space.
And if you take a 100 yr vision for a company like this - it is definitely going to be the company that builds logistics to mine asteroids.
The valuation is justified and the need to keep control of mission critical decisions amongst a group of people led by Elon who know best.
The SpaceX IPO is not about the valuation -
it is about having near zero corporate governance and shareholder rights!
Essentially giving your money and handing over the keys to Elon Musk to do as he pleases with it - whether on his own compensation, dilutive shareholding or
