This is not an earnings write-up.
The Business Engineer exists to take the long-term view. It is where we examine the thesis, the potential, and the structural forces that emerge when technological capability, scalable infrastructure, business-model flywheels, and extraordinary engineering execution converge.
We live in a time when opinions about the person running a company, whether justified or not, can blur our ability to analyze the company itself. Personal dislike often replaces analytical judgment. Noise overwhelms signals. Short-term reactions crowd out long-term thinking.
My duty, my mission, and my passion are to resist that tendency.
For the past twenty years, I have trained myself to distinguish signals from noise, to look beyond the immediate cycle, to separate personal judgment from analytical understanding, and to study the deeper system dynamics shaping industries and companies.
That means examining second-order effects, nonlinear developments, technological inflection points, and the long-term evolution of the business landscape. It means understanding not only what a company is today, but what it could become if its technological capabilities, operating model, infrastructure, and strategic flywheels reinforce one another over time.
That is the perspective I bring to this analysis of SpaceX.
This is another day of The Business Engineer: an attempt to understand the system beneath the headlines, the mechanisms beneath the narrative, and the long-term trajectory beneath the short-term noise.
Developing this mindset requires daily practice. It requires intellectual discipline, patience, and a willingness to challenge your own biases. I still find it difficult. But it is the pursuit of a lifetime, and it is the reason I continue doing this work every day.
