Free time observations

Spotify is a music streaming company basically. They are burning through money at a large rate. Their main product has no defining feature and they are battling the biggest names in the industry with intense competition. 2017 revenue was $2.2 billion.

It is valued at $27 billion.

SpaceX is the pioneer in rocket research. They are profitable and cash-positive. They have a Falcon 9 rocket which is cheaper than any rocket in history. They are finishing their Falcon Heavy which is ground-breaking a decade ahead of the competition. They are battling the ULA which has repeatedly been unable to lower prices. They are competing with Blue Origin which hasn't even launched a rocket yet. They have the greatest minds in aeronautic research working on designing the rocket of the future. 2016 revenue was $1.8 billion.

It is valued at $24 billion.

---

How can a company making no money with no distinguishable product be valued more than SpaceX?

I'm not bashing Spotify. I'm merely pointing out that priorities are messed up. People are still valuing “app” companies with no clear road to profitability more than a company with almost no competitors that is a decade ahead of the competition.

I don't want to be the one to say it but we are heading for a “Dot-com burst” with apps.