SpaceX's value is derived from perceived future worth rather than its practical utility.

"[P]eople have largely stopped calling it crypto*currency* because no one is even pretending that it's a form of money. It's a tradeable collectible, not even particularly useful for paying for crimes or laundering money. "Spacex is just a continuation of the logic of crypto, in which something is valuable because some people think other people will pay more for it in the future, and *not* because it does useful things...." --Cory Doctorow, @pluralistic https://pluralistic.net/2026/06/17/its-the-stupid-economy-stupid/#trillionairitis 1/

This post by @pluralistic hits all the nails on their heads. "Spacex is just a continuation of the logic of crypto, in which something is valuable because some people think other people will pay more for it in the future, and not because it does useful things." https://pluralistic.net/2026/06/17/its-the-stupid-economy-stupid/