If underwriters think it’s worth $1.7T with a $16B revenue (not profit), they’re doing the same thing as the credit agencies did in 2008 by giving underwater mortgage backed securities a AAA rating.

They are decades ahead of their nearest competition, in multiple verticals, and their barrier to entry is a literal gravity well.

About those underwriters - to quote the venerable Charlie Munger "they will sell 'shit' as long as 'shit' can be sold".

the ability to mine the moon or asteroid belt seems extremely lucrative, the logistics of transporting materials to earth costs less than shipping them across the ocean, an astounding level of value creation.