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Elon Musk’s Big Bet for SpaceX

By Ryan Mac, Nour Idriss, Nikolay Nikolov, Stephanie Swart, Rafaela Balster and Sam Rosenthal

Elon Musk is taking SpaceX public and keeping almost all the power. Ryan Mac, a technology reporter for The Times, breaks down why the company’s record I.P.O. is both a big bet on Musk’s vision and a risk for investors.