The SpaceX IPO is great for Elon Musk and terrible for you

Number go up? | Image: Cath Virginia / The Verge, Getty Images I haven't seen anything as stupid as the WeWork IPO document in a very long time - that is, until Elon Musk filed to take SpaceX public. WeWork was a joke. SpaceX is a threat.

And if Musk and his bankers have their way, you are going to be their bagholder. Lots of the top-line details leaked long before the S-1 filing itself became public. There's the rumored valuation of more than $1 trillion. That's despite the nearly $5 billion in losses last year.