Elon Musk’s Big Bet for SpaceX

Elon Musk is taking SpaceX public and keeping almost all the power.

Ryan Mac, a technology reporter, breaks down why the company's record I.P.O. is both a big bet on Musk’s vision and a risk for investors.

The offering is framed as a wager on that vision while posing clear risks for those who would buy in.

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