Friday, June 12, 2026

Big, Real Big

Top 10 Largest IPOs in History (by capital raised): 

1. SpaceX — $75 billion 
2. Saudi Aramco — $29.4 billion
 3. Alibaba — $25 billion 
4. SoftBank Corp — $23.5 billion 
5. Agricultural Bank of China — $22.1 billion 
6. ICBC — $21.9 billion 
7. AIA Group — $20.5 billion 
8. Visa Inc. — $19.7 billion 
9. General Motors — $18.15 billion

Think about it...........

> you’ll never start a rocket company
 > you’ll never build your own engines 
> you’ll never be able to use off-the-shelf parts
 > you’ll never survive three launch failures 
> you’ll never reach orbit
 > you’ll never win NASA’s trust
 > you’ll never launch cargo to the ISS
 > you’ll never compete with Boeing
 > you’ll never compete with Lockheed 
> you’ll never make rockets reusable
 > you’ll never land a rocket vertically 
> you’ll never land one on a drone ship 
> you’ll never reuse a booster 
> you’ll never fly the same booster 10 times
 > you’ll never fly the same booster 20 times 
> you’ll never fly the same booster 30 times 
> you’ll never recover and reuse the fairing 
> you’ll never lower launch costs 
> you’ll never launch every month 
> you’ll never launch every week 
> you’ll never launch multiple times a week
 > you’ll never carry astronauts 
> you’ll never fly civilians to orbit 
> you’ll never manufacture satellites at scale 
> you’ll never build the biggest constellation ever 
> you’ll never make satellite internet work 
> you’ll never make satellite internet fast 
> you’ll never make satellite internet affordable 
> you’ll never serve rural customers 
> you’ll never serve aircraft and ships
 > you’ll never build a methane rocket engine
 > you’ll never make full-flow staged combustion work 
> you’ll never build the most powerful rocket ever 
> you’ll never build a rocket bigger than Saturn V
> you’ll never build it out of stainless steel
 > you’ll never launch Starship 
> you’ll never separate Super Heavy and Starship 
> you’ll never relight Raptor in space 
> you’ll never bring Super Heavy back 
> you’ll never catch a booster with Mechazilla tower arms 
> you’ll never launch 85% of mass to orbit worldwide
 > you’ll never change the economics of space 
> you’ll never force the entire industry to copy you 
> you’ll never win 
> you’ll never IPO 

 Congratulations to the SpaceX team.

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