[SwellJoe]

The hate is far less than is warranted. This is purely a transparent transfer of wealth from working people to the richest people on earth.

Elon Musk demanded the right to dip into average folks retirement funds for himself and his investors as a condition for listing on the Nasdaq, and he got it. There's no innocent explanation for this rule change and it is not a coincidence that Elon Musk is the first beneficiary of the rule change.

No one who understands anything about the business honestly believes the valuation it's launching at is reasonable. The only way the investors will be able to cash out at a huge profit at the end of the lock up period is if it gets propped up by a massive investment by indexes soon after listing, before the hype wears off and people start realizing SpaceX revenue is comparable to companies valued an order of magnitude less and the realistic growth story is far more conservative than Elon Musk has pretended (data centers in space? c'mon).