
I disagree. That part is actually a somewhat reasonable business (though partially held up by public funds through contracts). The issue isn’t what part is profitable. The issue is what part is getting all the investment and speculation. SpaceX was probably still overvalued for a space company, but they were doing something with measurable tangible value. The AI side is pure promise, and it’s only speculation, and the speculation is wild. It’s valued higher than something that’s actually making profit.

As much as I hate them, losing money is not the same as having negative value. Yeah, the current number is total bullshit, but they do have a value that’s greater than 0. Information control has a value, and that’s what they provide.