Elon Musk has clarified speculation regarding his qualifications to be SpaceX’s Chief Technology Officer, explaining why he had to take up the role.
Musk Says He Didn’t Think He Was Qualified
Musk stated that he did not believe he was qualified for the role but had no alternative.
He explained that no one suitable was willing to join a rocket startup as chief engineer, especially one perceived as likely to fail.
“I didn’t ‘think I was qualified’. There was no other choice. No one good would join a rocket startup as chief engineer that they thought was destined for failure,” he said in a post on X.
Musk Says No Degree Could Prepare Anyone
Musk emphasized the absence of a university degree that could prepare someone to build an orbital rocket, noting that professors themselves lack this specific expertise.
“There is obviously no ‘degree’ you can get from a university that actually teaches you how to make an orbital rocket, as none of the professors know how to do it!” he said in another post.
Musk’s comments highlight the challenges faced by SpaceX in its early days, as the company sought to establish itself in the aerospace industry. It also highlights Musk’s hands-on approach in leading SpaceX to success despite initial skepticism.
Coinciding With SpaceX IPO
The timing of Musk’s comments coincides with significant developments at SpaceX, particularly as the company prepares for its highly anticipated IPO. SpaceX is targeting a $75 billion raise through the sale of 555.6 million shares at $135 each.
Additionally, the upcoming IPO has sparked interest in space-related ETFs, which have seen a surge in assets, surpassing $5 billion for the first time. According to reports, this figure has doubled since the start of the year, reflecting the growing investor confidence in space ventures.
However, not everyone is convinced. NYU Stern Professor Aswath Damodaran, a respected valuation expert, has expressed skepticism about SpaceX’s valuation. In a recent discussion, he highlighted concerns over the company’s total addressable market estimates, suggesting that SpaceX’s narrative-driven valuation might be overestimated.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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