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This is probably a speculative application. It looks good to investors ('look at the potential profit!')

I think SpaceX is private and has healthy positive cashflow, so this shouldn't be a factor?

It isn't so obvious to me that they have positive cashflow.

Their main costs will be employees, and not having a full launch schedule will have a dramatic impact on the financials.

Private investors still like to be "wowed"... even if they don't do their homework either.