The SpaceX IPO will be the next "housing market since 2020".

After 2020 housing prices kept going up and up year after year and became (and still are still are) extremely overvalued. Everyone expected a correction, many people still do. But because of market manipulation, global factors, and black swans they continue to stay high and are just the new normal.

I guarantee the same thing will happen with SpaceX. Everyone will pile in to get a piece. Index funds and 401K's will stabilize the high valuation. Low number of public shares and high liquidity will keep it volatile. Everyone will point out the high valuation over and over, then after a few years everyone will just accept it.

Blue Origin will probably go public the same at some point and it will be Nvidia vs AMD all over again.

How many people are still shouting Nvidia is overvalued and what has the stock done.

As a former employee, another thing no one has brought up that will determine their growth is regulation and licensing. People don't realize the number of satellites that are allowed to be sent up is regulated. You can't just send up a baby as you want.

Space junk is also becoming a big concern. The average satellite only has a lifespan of 3-7 years, and the current way to "get rid of the trash" is just push dead satellites out a bit. There's a whole junkyard accumlating up there that has to be navigated around when sending rockets up. More stuff in space means more to navigate around. The real estate up there isn't endless where latency is a concern. Data centers on the moon, different story but that has other concerns.

This is investing in ATT in 1983. It will take a long time for the infrastructure to get where it needs to be, but when it does the first mover advantage will be explosive.

For what it's worth, i'm long term bullish. But I can also acknowledge the game is a bit rigged. It's overvalued, but I do think the valuation will be justified in the long run.