[tcp_handshaker]

At this moment, there is so so much, publicly available information [1] on the fact the SpaceX IPO is the biggest scandal in the long history of Wallstreet insiders fleecing the "Johns".

A scandal orchestrated and cheered on by the NASDAQ, as well as Goldman Sachs and JP Morgan the underwriters, that if you spend any money on it, you deserve to be parted with your money.

And if you have a 401k...you are forced to buy no questions asked.

This will become such a disaster for retail, that hopefully Goldman Sachs and JP Morgan and the NASDAQ too, will spend their next 10 years in court defending action group lawsuits.

[1] - https://www.instagram.com/reel/DWzTFAEAhSe/

"SpaceX IPO retail offering is worrying" - https://youtu.be/T8e2FbwN7dw

"SpaceX IPO: Nice Try Though" - https://youtu.be/IHD8BDFYyGI

"SpaceX IPO Scandal" - https://youtu.be/8rS3fTbC7TE

"Anthropic, OpenAI Should Not Be Allowed to IPO, Says Ed Zitron" - https://youtu.be/zbKDmkJPVvI

[tejohnso]

> if you spend any money on it, you deserve to be parted with your money.

Yet it's already trading at >20% over IPO price on Bitmex

[root-parent]

That is leveraged speculation on a future listing before real float, real index flows, or real public market ownership exist. With a 20% premium that is evidence that the hype machine is working, and the best evidence of engineered retail FOMO.

[tejohnso]

> evidence that the hype machine is working...

Which is exactly the kind of thing that can stave off disaster for years. Just look at TSLA market cap.

[beernet]

Companies are innovating things that significantly enhance human capabilities and people will still find a reason to drag them down. I am not a fan of either these companies. At the same time, I strongly disagree with these doomer scenarios as they are dangerous for progress of humanity.

[pera]

> they are dangerous for progress of humanity

A tiny bit hyperbolic for someone who's not a fan maybe? :)

[Henchman21]

Concentrating the cognitive power of AI in the hands of just a few sociopathic Capitalists is NOT, I repeat NOT PROGRESS.

[red-iron-pine]

yea but you realize you're posting on HN, right?

[Henchman21]

Of course? I’m not expecting upvotes or whatever — IDGAF about that. I care about stating the truth in places where truth is in short supply.

[vessenes]

For your own safety do not read or be advised by Ed Zitron. By all means skip the SpaceX ipo if you like: makes sense. But Ed is neither perceptive nor correct historically.

Case in point: a lockup period ending matching with mandated index fund buying is emphatically good for IPO buyers: it adds liquidity to a major cliff every IPO company faces: liquidity seeking by insiders on a schedule.

Now it may be bad for axed buyers like pension funds but buy side liquidity coming in to a company is always good for existing shareholders. Reading Ed would make you think the opposite.

[tcp_handshaker]

>> a lockup period ending matching with mandated index fund buying is emphatically good for IPO buyers

I cant believe you wrote this. You are making Ed Zitron case for him. And the lockup period in this case has been reduced to 15 days or less:

https://youtu.be/T8e2FbwN7dw?t=96

https://youtu.be/T8e2FbwN7dw?t=123

[3ashg]

> a major cliff every IPO company faces: liquidity seeking by insiders on a schedule.

LOL, so the insiders can dump their shares. This is exactly What Zitron says. Maybe we should have Mark Karpeles' or SBF's opinion on this matter, too.