SpaceX's Volatile Valuation Skews Google's Earnings and Exposes Governance Gaps

Google's Q2 earnings were significantly inflated by a non-cash gain from its SpaceX investment, highlighting how accounting rules can create misleading financial pictures. This situation also underscores the broader implications of SpaceX's questionable corporate governance practices and Nasdaq's controversial decision to include it in the Nasdaq 100 index, forcing index funds into a volatile, poorly governed asset.