This video transcription argues that SpaceX is uniquely positioned to exploit emerging off-planet business models, primarily due to Elon Musk's vision of making life multi-planetary. The speaker posits that even completely ignoring specific future opportunities, SpaceX represents a "never-expiring call option" on Musk's "creativity, innovation, and ability to identify and seize opportunities," which holds "real value."
The speaker reveals their personal valuation method, which involves adding an "Elon multiple" to a final valuation, a practice they've applied since their Tesla model. They acknowledge that professional analysts cannot employ such a method, sarcastically suggesting they'd "immediately get thrown in prison for doing something that breaks the rules of investing." Defiantly, the speaker states, "I don't give a fuck because no one's throwing me in prison."
The core point is that standard analyst price targets and fair valuations "completely ignores the real value in having the never-ending call options on Elon Musk's creativity." While analysts are unable to quantify this in their spreadsheets, the speaker insists they should at least acknowledge it by "calling it out as an omission."