$SPCE cool company, cool concepts, cool Billionaire founder. Reminds me of high school student council elections... lots of hype and little by way of fundamentals. Unclear to me how it will generate cash and when. Seems very speculative and at $4.5B market cap it's not clear to me when they might become cashflow positive. How many equity raises may hit the tape before that happens is unclear. Add it that this is all prototype technology and the risk reward seems heavy on the side of risk.