From Fortune:



Elon Musk’s SpaceX, currently the most valuable private company in the U.S., is not in any hurry to spin off Starlink, its largest revenue driver, as a separate public entity. This is due to the advantages of being a private company versus a public one, as private companies are not subjected to the same pressures of delivering results on a quarterly basis, which Musk believes leads to less efficient operations. Additionally, SpaceX is able to take appropriate risks as a private company. The valuation of SpaceX is close to $180 billion, and there is speculation on the timing of a Starlink spinoff IPO, which ranges from late 2024 to 2027. The revenue of Starlink has surged over the years, and it has already surpassed 2 million active users. Musk believes that it’s not worth going public until there is an extremely stable and predictable revenue stream. The main advantage of being private, according to Musk, is the ability to stay unaffected by analysts’ influence and the legal burden present when a company is public. While Musk does acknowledge the advantages of Tesla going public, such as greater capital availability, the legal burden, analysts’ influence, and the need to meet short-term targets makes it a tremendous distraction. Musk and SpaceX have largely avoided these distractions.



Original: Elon Musk: SpaceX Starlink spinoff can wait given hassles