Venture capitalist Tim Draper praised SpaceX’s (NASDAQ:SPCX) record initial public offering as a defining moment for Elon Musk and private innovation, saying the listing showed how founders can force industries to imagine a different future.
Draper Says Musk Revived Transportation And Space
"My take on @SpaceX going public: $75 billion raised. Largest IPO in history. Stock up 19% on day one," Draper wrote on X, referring to Space Exploration Technologies Corp. He said Musk "brought new life to the space and transportation markets" after years in which legacy automakers and governments set the pace.
Draper argued that Tesla Inc. (NASDAQ:TSLA) challenged the old "big three" auto model and SpaceX turned space from a government-led field into one full of "extraordinary Star Trekkian possibilities."
Founder Vision Drives Biggest Returns
