At the critical moment of TGE, a KOL started spreading FUD and called for postponing the TGE Reasons: 1. Valuation is too inflated—$1.77 trillion, the company isn’t profitable yet, and after merging with xAI, the financials are even harder to explain; 2. The project team is too centralized, and no one can keep Musk’s power in check; 3. The project team’s rapid inclusion in major indices forces corresponding index funds to buy in, leaving retail investors saving for retirement to passively take the hit. spacex