Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend’s kid got a job there a few years out of college as an engineer. I assume they are now a multimillionaire?! Wow.

SpaceX is known to be a sweatshop, and actually pays its engineer below market rate (with like an Amazon level of equity like $250k)

https://www.reddit.com/r/SpaceXLounge/comments/1rrej5c/is_spacexs_burnout_high_turnover_work_culture_bad/

If they were there in 2005 or so and STILL there, yes, they could have real equity and be millionaires! When did they go to college?

My kid works for Amazon with friends that works for SpaceX. They say Amazon is easy living compared to SpaceX..

Then why don’t they quit? No one is forcing them to work there.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Better sell quick, offload that stinker

They probably can’t until the lockup period ends

And if they sell inside the next year they will pay 40-55% in taxes dependent on whether they live in a no state income tax state (37% Federal+ 3.8% NIIT + state taxes up 14.7%)

CA is brutal for this unless you have founder equity. Everyone else gets screwed.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hoping it crashes and burns.

What kind of person thinks like this?

You don't get to where Musk is without exploiting workers, rules, regs. He's worth over a trillion when people are homeless and dont have enough to eat. He's a sociopath. Further, he could give back way more than he does now. The fact he doesn't speaks volumes of his morality and humanity.

How did he exploit workers? Did he put a gun to their head and force them to work at the company? They could have quit at anytime. You’re just Aaother clueless socialist lib who survives on govt handouts. Go get a job.

Anonymous wrote:

Anonymous wrote:Better sell quick, offload that stinker

They probably can’t until the lockup period ends

And if they sell inside the next year they will pay 40-55% in taxes dependent on whether they live in a no state income tax state (37% Federal+ 3.8% NIIT + state taxes up 14.7%)

Anonymous wrote:DH has a senior leadership position with SpaceX and worked there since January 2021. He has been granted 235,000 shares total since starting and is fully vested in 75,000 of those shares which are now worth a little over $12 million!! Awesome day for our family.

Curious to hear what others have experienced either as an employee or early investor?

I would sell as soon as your DH’s lock-up period is over. SPCX’s valuation is disconnected from reality. Here is just one example why:

Nvidia has 85% annual revenue growth and its price-to-sales multiple is 14x. SpaceX only has 15% revenue growth, but wanted a price-to-sales multiple approaching 100x (at the IPO price of $135). Think about that hard. SpaceX wants to be valued at a price-to-sales ratio 700% higher than Nvidia who is making gobs and gobs of money.

Here’s another example:

The terrafab that Elon wants to build is going to be 100 million square feet. The industry standard for semiconductor manufacturing is that equipment that fills such a building adds about $20K of cost per square ft so we’re talking a $2 Trillion capital requirement. Where does that money come from? The shareholders (which we all are either directly or indirectly through index funds). If they proceed with these plans SpaceX willneed to come back to the kitty over and over for the next 10 years for new $50-100B in handouts.

Just my two cents

Anonymous wrote:

Anonymous wrote:My friend’s kid got a job there a few years out of college as an engineer. I assume they are now a multimillionaire?! Wow.

Only if they were paid with stock. Not eveyone is.

Even welders got stock.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can’t follow this space stuff because I don’t have any interest. And so I don’t get what he’s doing? What are the goals ? I thought NASA was good enough.

NASA is being privatized because people think private companies can do it better.

If they could do it better, these private companies such as SpaceX would not need billions of dollars from the federal government to operate.

Correct. It's just NASA, but with private money makers.

Anonymous wrote:My friend’s kid got a job there a few years out of college as an engineer. I assume they are now a multimillionaire?! Wow.

Only if they were paid with stock. Not eveyone is.

Anyone know who OP’s husband is? She’s shared a lot - senior leadership, joined January 2021, South Asian. Sharing the start month and year was hyper-specific. Any guesses?

Anonymous wrote:

Anonymous wrote:I can’t follow this space stuff because I don’t have any interest. And so I don’t get what he’s doing? What are the goals ? I thought NASA was good enough.

NASA is being privatized because people think private companies can do it better.

If they could do it better, these private companies such as SpaceX would not need billions of dollars from the federal government to operate.

Anonymous wrote:I can’t follow this space stuff because I don’t have any interest. And so I don’t get what he’s doing? What are the goals ? I thought NASA was good enough.

Ask Butch and Suni if NASA is enough

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have zero shares, barely managed this year after my DH had a long term layoff. Eff off.

Sounds like you and DH need to be smarter and adapt better!

Sounds like you need to not be an arrogant pig and realize that not everyone has had the same life experiences as you and some things are not in your control. NP.

+1

What an ignorant prick.

I'm OP: I moved to this country with no family, no connections, and just one suitcase. I got a scholarship to a good school because I worked hard. I worked non-stop throughout college while my parents were divorced, mother SAHM and my father is an alcoholic who abused me. The UMC white kids at my school partied and never worked the work I did. It paid off and now I'm supposed to feel pity for some random person who's jealous of hard work?

This is what America was made on and I will always remain grateful for this country that lifted my family out of GENERATIONAL poverty at the likes an American cannot comprehend.

It’s your husband’s work, not yours. What are you preening about?

Anonymous wrote:DH has a senior leadership position with SpaceX and worked there since January 2021. He has been granted 235,000 shares total since starting and is fully vested in 75,000 of those shares which are now worth a little over $12 million!! Awesome day for our family.

Curious to hear what others have experienced either as an employee or early investor?

How much are you getting in the divorce?

Anonymous wrote:

Anonymous wrote:My friend’s kid got a job there a few years out of college as an engineer. I assume they are now a multimillionaire?! Wow.

SpaceX is known to be a sweatshop, and actually pays its engineer below market rate (with like an Amazon level of equity like $250k)

https://www.reddit.com/r/SpaceXLounge/comments/1rrej5c/is_spacexs_burnout_high_turnover_work_culture_bad/

If they were there in 2005 or so and STILL there, yes, they could have real equity and be millionaires! When did they go to college?

Nothing wrong with being a sweatshop. I spent a few years at one in my late 20s and it was the most memorable and rewarding experience. Learned a lot. And in your 20s/early 30s is the right time to do it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have zero shares, barely managed this year after my DH had a long term layoff. Eff off.

Sounds like you and DH need to be smarter and adapt better!

Sounds like you need to not be an arrogant pig and realize that not everyone has had the same life experiences as you and some things are not in your control. NP.

+1

What an ignorant prick.

I'm OP: I moved to this country with no family, no connections, and just one suitcase. I got a scholarship to a good school because I worked hard. I worked non-stop throughout college while my parents were divorced, mother SAHM and my father is an alcoholic who abused me. The UMC white kids at my school partied and never worked the work I did. It paid off and now I'm supposed to feel pity for some random person who's jealous of hard work?

This is what America was made on and I will always remain grateful for this country that lifted my family out of GENERATIONAL poverty at the likes an American cannot comprehend.

Yes, I see the disdain and condescension towards white Americans when I go to Ashburn and encounter South Asians behaving badly. The earlier wave of South Asian immigrants were mannered and intelligent. The new wave intends to bypass the usual tough route taken by every single immigrant group who has arrived. The European Americans broke their backs creating this country over several centuries, as did all other immigrant groups. Obviously the African Americans did not come over of their own free will. Your new group is aggressive, with a really bad attitude. Your comment above exemplifies what I'm talking about.

Cool it. The American dream is real. I've never found South Asians Americas, whether second or third generation or fresh off the boat, to be badly behaved. A common factor is that they all work extremely hard. I'm thrilled by the South Asian success as the latest iteration of the American story. Let them enjoy their pride and prosperity and success. Just like all previous self made groups of people in America did.