SpaceX IPO could benefit Elon Musk, disadvantage public

Elon Musk's filing to take SpaceX public is drawing comparisons to the WeWork IPO, with concerns that the public may become 'bagholders.' Despite a potential valuation exceeding $1 trillion, SpaceX reported nearly $5 billion in losses last year. The company's total addressable market is estimated at $28.5 trillion, but the filing raises questions about the financial viability for public investors. Critics suggest that the IPO structure might primarily benefit Musk and early investors, potentially at the expense of retail shareholders who might be exposed to significant risk given the company's financial performance.