SpaceX and the South Sea bubble - the historical parallels
The proposed IPO of SpaceX at a valuation reportedly approaching US$1.8 trillion prompts comparison with one of history's greatest speculative manias.
By Paul Glass, Founder Devon Funds Management
While SpaceX is unquestionably a real and highly successful business, aspects of the current investment narrative bear a striking resemblance to the enthusiasm that surrounded Britain's South Sea Company during the famous South Sea Bubble of 1720.
The South Sea Company was founded in 1711 and promised investors access to...MORE»
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