Dear Mr. Market:

In June of 1997, a little online bookstore called Amazon went public at a market capitalization of approximately $440 million. Today, Amazon is worth nearly $3 trillion. A $10,000 investment at that IPO would have turned into a genuinely life-changing sum of money.

Naturally, investors are now looking at the upcoming SpaceX IPO… ticker SPCX, expected to list on Nasdaq around June 12th , and asking the same question: “Is this the next Amazon?”

Maybe. But there is one major difference that most people glossing over the headlines haven’t fully absorbed.