Editorial companion

What stands out

SpaceX shares slid after a scrubbed launch and then a failed post-initial public offering (IPO) Starship attempt, a combo Bloomberg’s Max Chafkin connects to roughly a trillion dollars of lost valuation. The piece shows how a single technical setback can puncture even the most durable founder narrative, and Chafkin’s aside about Elon Musk’s chatbot company wrestling with an “identity crisis” makes clear the market is reassessing not just one business but an entire constellation of Musk bets. If you follow Musk, this clip is about why execution now matters as much as imagination.