Discussion

• @aridavidpaul Ari Paul on x

  Amazing. Pensions forced to buy Space X IPO en masse even if it's unprofitable. Impressive coup by Musk.

• @hedgeye @hedgeye on x

  Rule changes for the SpaceX $SPCX IPO: Index providers waived the profitability requirement and cut the seasoning window from 90 days to 5. This forces over $30 trillion in passive 401k and retirement money to buy SpaceX at IPO valuations. Bloomberg Intelligence estimates S&P

• @ericbalchunas Eric Balchunas on x

  I've had multiple ppl suggest an S&P ex-SpaceX. Given there are two dozen SpaceX ETFs so far i'm surprised we haven't seen. That said, I bet it would flop. Most of the SpaceX angst is a tiny minority of terminally online ppl. Second, they tried an SPX ex-tech and no one cared.

• @egrefen Edward Grefenstette on x

  SpaceX being rammed into indices with no profit requirements, seasoning, and generally looser constraints is economic terrorism. Index trackers will eat the loss when reality catches up and retail investors will suffer.

• @nickmmark Nick Mark MD on x

  I said it before and I'll say it again: If an ETF offers to do the S&P 500 or Nasdaq 100 *without* the rapid inclusion of SPCX they get my money.

• @isabelletanlee Isabelle Lee on x

  Today's Big Take looks at how SpaceX's IPO is so consequential, it's reorganizing some parts of the market. With the amazing @luwangnyc @BTLipschultz and a great team of editors. Here's a gift link https://www.bloomberg.com/... [image]

• @thierryborgeat @thierryborgeat on x

  Imagine you spent 40 years doing the boring, responsible thing. You opened a 401k at 23. You contributed every paycheck. You ignored the noise. You bought the index because Bogle told you to, because Buffett told you to, because every honest piece of financial advice for 30

• @nickadobos Nick Dobos on x

  Elon with the deal of the century lmao This is worth billions if not trillions of dollars for SpaceX IPO. Letting stock indexes buy quickly instead of waiting like they normally do (often to protect against risky investments) Is money even real? Just change some fine print to

• @alanthefisher Alan Fisher on x

  The SpaceX IPO is reallying going to be the first domino that takes everything down. >S&P 500 rules are waved to fast track SpaceX into the fund >Mutual Funds will be forced to buy SpaceX stock using retirement funds & 401ks >SpaceX is now tied to Xai which is losing a shitton

• @the_chart_life @the_chart_life on x

  Listen, I'm a big “the index is the index” guy, but they are openly looting the coffers. This is 100% fraud.

• @duncankinney Duncan Kinney on x

  elon musk is ripping the copper wire out of the building here and no one seems to care.

• @zacksjerryrig @zacksjerryrig on x

  The richest guy on the planet is about to rob your 401K. 👍

• @constans @constans on x

  If more companies start doing this, it could pretty much destroy destroy index funds and passive investing

• @benjaminnorton Ben Norton on x

  The world's richest centi-billionaire oligarch used his power to change the rules, so he could dump his garbage company (which is cartoonishly overvalued, unprofitable, and incinerating cash) on retail investors, using trillions of dollars in retirement funds as exit liquidity,

• @cernovich @cernovich on x

  For SpaceX, yes, but if this is the rule for OpenAI and other unproven companies, then it's a wealth transfer from retail investors who index into the S&P 500 and is a pure giveaway to Anthropic and OpenAi insiders, as retail would be FORCED to buy at inflated valuations.

• @dcinvestor @dcinvestor on x

  really feels like they are looting everything they possibly can at this point

• @0xdoug Doug Colkitt on x

  Indexers are private orgs and can make whatever rules they want... *However* many have decades of unrealized capital gains in funds tied to these indices. You can't exit without taking an enormous tax hit. US tax policy is now effectively subsidizing SpaceX exit liquidity.

• @wolfejosh Josh Wolfe on x

  it is the single most clever move Elon ever pulled off