I have no idea what point you're trying to make here.
The 2008 crisis wasn't "literally every mortgage holder is unable to repay", nor was it "none of these houses exist".
Starlink being decent, the launch business being close enough to profitable they can make it so whenever they want by (I think merely by?) slowing down Starship R&D, that doesn't change anything about X or xAI having the potential to sink the rest of it.
That said, the Consolidated Balance Sheet in the S-1 filing… I'm new to reading financial docs, but they do have a line saying "Accumulated deficit" is just over 37 billion dollars, which honestly is probably why they felt the need to sell 75 billion of shares as they were in danger of, as Thatcher said of socialism, "eventually run out of other people's money": https://www.sec.gov/Archives/edgar/data/1181412/000162828026...
* on the one hand this is from legal advice, on the other hand I was hearing this second hand, take appropriate pinch of salt
The 2008 crisis wasn't "literally every mortgage holder is unable to repay", nor was it "none of these houses exist".
Starlink being decent, the launch business being close enough to profitable they can make it so whenever they want by (I think merely by?) slowing down Starship R&D, that doesn't change anything about X or xAI having the potential to sink the rest of it.
That said, the Consolidated Balance Sheet in the S-1 filing… I'm new to reading financial docs, but they do have a line saying "Accumulated deficit" is just over 37 billion dollars, which honestly is probably why they felt the need to sell 75 billion of shares as they were in danger of, as Thatcher said of socialism, "eventually run out of other people's money": https://www.sec.gov/Archives/edgar/data/1181412/000162828026...
* on the one hand this is from legal advice, on the other hand I was hearing this second hand, take appropriate pinch of salt