This was my 2017 $SPCX thesis. I unsuccessfully pitched it to one of the world’s most legendary hedge fund managers soon after I invested. Three key lines from it: “I believe that it can be the most valuable company in the world in 10-15 years which would mean that the return can still be 100x plus.” “I strongly believe they will be disrupting multiple multi hundred billion dollar industries.” “I look at this as a hedge against the future and that not having a piece of SpaceX is reckless.” The thesis sounded like a pipe dream. The investment wasn’t a fit for him, but writing it out strengthened my own conviction enough to double down a few days later via Gigafund, run by @LukeNosek who serves on SpaceX’s board, and @oskoui . More than two dozen friends invested alongside me. That 10-15 year window is 2027-2032. When I wrote this, no U.S. company had ever reached a $1 trillion valuation. My 100x case implied SpaceX would be worth $2 trillion+.