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This should be a 5 alarm fire. It reminds me of nothing more than organized crime rackets that targeted control of union retirement funds
by pryce 4mo ago
This should be a 5 alarm fire. It reminds me of nothing more than organized crime rackets that targeted control of union retirement funds
- ejoso 4mo agoThis should trigger all of us to be spinning up lawsuits. This whole thing is an absurd grift.
- kys11 4mo ago[dead]
- bluGill 4mo agoclass action is the average person's best bet here. You should expect to get $.75 while the lawyers make big money.
- throwway120385 4mo agoHopefully you didn't accidentally waive your right to class action by signing something at some point in the last 15 years that survived multiple buy-outs to land in the hands of some company tertiary to the lawsuit.
- petesergeant 4mo ago> This should trigger all of us to be spinning up lawsuits On what grounds? What tort have you suffered? If you want change (and who wouldn't?) you need to talk to your representatives, not the courts.
- joquarky 4mo agoAnd what exactly will that accomplish? Did you grow up in a time when that was effective?
- guywithahat 4mo agoWhy? An index fund represents the market (usually top 100 or 500 companies), and SpaceX will certainly be in the top few companies. I would argue it's a lot riskier to buy it after the IPO price (if you're buying it secondary it would be easier to spike prices by accident), plus then it's not representative of the actual market until you've purchased the stock. Unless I'm misunderstanding this, buying at the sale price is the least risky way of purchasing the stock, which is what index funds should do. They should pursue the least risky way of indexing the market
- stingrae 4mo agothey should wait for the major lockups to pass, there by skipping some of the inevitable volatility they will likely cause.
- fourside 4mo agoWhy does SpaceX warrant a change of existing trading rules?
- 21asdffdsa12 4mo agoBecause this time we did learn our lesson is almost 15 years ago? Its a good time to get out of the ride
- toasty228 4mo ago[flagged]
- camillomiller 4mo agoStop downvoting the only person that talks reason. We have reached a point where Musk and its tech pals must be stopped with all means possible, because government oversight, democratic processes, and the judicial process clearly do not apply to them anymore.
- toasty228 4mo ago
- moffkalast 4mo agoIf Al Capone were alive today he'd seem like an honest man compared to these crooks that are running rackets on a global scale.
- DaedalusII 4mo agoThere are many valid complaints about public markets undervaluing businesses in comparison to private markets, now that everyone is putting their money on the line we start to see a different view being taken which is exactly why public markets have always been a superior price discovery mechanism in comparison to private markets
- eru 4mo agoThe ability to short stocks in public markets also helps.
- saidnooneever 4mo agoi read it as most likely people will lose their retirements if the companies goes bust. is that correct? in my country now they move to new pension model which will allow more aggressive investments with them. i am worried it will just get sent to these bros and i'll work until i die.
- moffkalast 4mo agoThe reason they're doing that is because traditional European ponzi scheme pension systems don't work with shrinking populations, so actually we're working till we die in either case unless automation taxes pay for it.
- saidnooneever 4mo agoeach few years the pension age rises 69 for me now, but it will likely go up further. much further up is beyond the average life expectancy...
- sscaryterry 4mo agoYep, I'm sure in 25 years time, when I "should" retire, the retirement age will be 75, meaning another 10 years of work, so I have 35 left :) At least!
- onemoresoop 4mo agoToo bad it's getting harder and harder to find employment after you're in your 50s
- endemic 4mo agoWelcome to Costco, I love you.
- bluGill 4mo agoWhich is why I have several different sets of savings for retirement. I have no choice about working now, but I hope to retire early in a few years, and my other savings just need to get me through until the official retirement income starts.
- hliyan 4mo agoI've been told the following (obviously negative) narrative. Can someone verify/refute some of these? I've put (?) next to questionable claims. 1. Twitter is purchased with debt 2. Debt is transferred to xAI via acquisition of X/Twitter 3. Debt is further transferred to SpaceX via acquisition of xAI 4. SpaceX IPO offered at extreme valuation 5. Index fund inclusion rules waived for SpaceX IPO: profitability requirement, inclusion period cut from 90 to 5 days 6. Index funds are largely held by passive investors such as pension funds. 7. Index fund managers are not incentivized to exclude a SpaceX from their indexes. (?) 8. Holders of original X/Twitter debt (banks) incentivized to support the rule waiver since post IPO, SpaceX will have liquidity to service/pay the debt. 9. Passive investors are unable to rapidly respond to these types of changes because liquidating portfolios will incur capital gains taxes. (?) 10. SpaceX is in Texas jurisdiction, where shareholder lawsuits are not possible and must instead go for arbitration. (?)
- Npovview 4mo agoWe Uncovered a Hidden Wealth Transfer in the SpaceX IPO. You're Holding the Bag. https://youtu.be/sYA-z0Y8WRQ https://youtu.be/sYA-z0Y8WRQ There is video explaining the process
- alexp2021 4mo agoThanks. That's pretty shady and grim :(
- killbot5000 4mo agoI’ve always suspected the “index funds are the safest investment” system is ripe for exploitation.
- riffraff 4mo agoif you're invested in a broadly diversified index you can be annoyed by this thing, but it won't impact you a lot. E.g. if you owned something based on MSCI ACWI, which is free float weighted and global, SpaceX will end up being less than 1% of your portfolio even at a trillion dollar valuation. It's just NASDAQ which is complicit in this scam by overweighting SpaceX.
- pj_mukh 4mo agoOkay before we set off the alarm though, can someone tell me What percentage of these index funds will be SPCX and TSLA? Like if both these stocks become penny stocks what happens to the indices? Isn’t the whole point that they are hedged across the whole market?
- derf_ 4mo agoAs of January, TSLA was somewhere around 2.3% of the S&P [1]. Because SpaceX will have so little float available, it would be somewhere around 0.7% if included. [1] https://en.wikipedia.org/wiki/S%26P_500 https://en.wikipedia.org/wiki/S%26P_500
- bwb 4mo agoYa, but this is a proof-of-concept rip-off. The fact that the indexes don't have our back is a huge problem.
- rapind 4mo agoIt's only a problem for the ones left holding the bag. I'm at an all-time low allocation percentage in the US stock market and considering pulling more out still. Full on casino vibes at this point.
- mancerayder 4mo agoIt's doubled in five years while inflation's gone up by 30+ percent. Where exactly is there to hide? Not gold - that peaked and went down a lot. Let's not talk about BTC, either. Real estate? You've got taxes on that in the US, it's how our governments can pretend to not tax us as much as in Europe while still taxing us as much as in Europe (property tax goes to schools) What's left?
- rapind 4mo agoI mean, gold is up significantly more than then broad market since Trump took over, but that doesn’t mean you should gamble on it continuing. I don’t trust real estate either. Seems like anything with a middleman is setting record levels of grift right now. I don’t trust the industries reports. No one is regulating or checking numbers. I shifted into more bonds. Probably a bit early, but I’m not a pro. I’ve just lost trust in the market which no longer seems tied to reality or at least my limited understanding of reality. Staying in it just feels yolo atm.
- arrty88 4mo agoShould one sell their 401ks ahead of the forced buying
- bdangubic 4mo agothis is not an option for the majority of people
- sph 4mo ago"Be fearful when others are greedy". Greed is at an all-time high, so be careful. Whether that means buying or selling or staying put is for you to decide.
- sebastiennight 4mo agoAny advice that confidently ends with "but whether you do A, B, or C, is for you to decide" can generally be safely avoided. This is providing 0 bits of guidance.
- sph 4mo agoTrue, but so is financial advice on the Internet. There is no answer to 'what should I do with my money today', and anyone that claims to have one either is stupid, lying or trying to scam you. The only valid advice here is to be careful because the economic climate is unstable, and it's not the time to make rash decisions.
- sebastiennight 4mo ago> There is no answer to 'what should I do with my money today' Actually I would argue there are valid answers to that. There are varied schools of thought on it, but the most useful and practical ones each have their specific hierarchy of "what to do now". Here's an example of a single blog post that was the lightbulb moment for me, ten years ago: https://mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/ https://mrmoneymustache.com/2013/02/22/getting-rich-from-zer... I was not scammed (and never gave any money to this individual or his blog sponsors/advertisers), the advice here is not stupid or mendacious, and it is genuinely helpful if your goals align with the stated intent of their admittedly very simple strategy. The nihilism of "nobody knows what to do or can give you actual advice" is an self-defeating choice. There's plenty of help available out there. At least until some of the internet survives LLMs.
- randomperson321 4mo agoHave you contacted your government representatives yet? I will be doing so. The federal government can probably stop this but we need to act now.
- benl 4mo agoBut the SPCX float is a small fraction of its overall shares. So it will end up being around 0.08% to 0.12% of the weight of the SP500 [1]. Nothing to write home about. Personally, I do think SpaceX is overvalued at these proposed IPO numbers and I will trade accordingly. So should anyone else who is confident and competent at taking appropriate market positions. 1. https://www.investmentnews.com/practice-management/spacexs-index-fund-debut-will-look-nothing-like-what-most-investors-expect-says-jacob-friedman/266776 https://www.investmentnews.com/practice-management/spacexs-i...
- throwawaypath 4mo ago>This should be a 5 alarm fire. Only for people that get their news from reddit. Initial public offerings whose market capitalizations rank within the Nasdaq 100’s top members will normally be eligible to be included after 15 days of trading, Nasdaq said in a statement. The timeline is shortened from at least three months currently. “Industry professionals, including asset managers and institutional passive portfolio managers, were mostly supportive of the Fast Entry proposal and proposed timing,” Nasdaq said in the statement.[0] 15 days vs 90 days isn't some huge shift nor is it inherently some "flaw." These changes have been asked for long before Elon entered the White House. [0] https://www.bloomberg.com/news/articles/2026-03-30/nasdaq-clears-way-for-spacex-big-ipos-to-gain-fast-index-entry https://www.bloomberg.com/news/articles/2026-03-30/nasdaq-cl...
- Lord-Jobo 4mo agoThe question is whether or not those industry professionals are speaking in their own interest, in the interest of all stockholders, in the interest of the economy as a whole, or any mix of the above. This is why non partisan financial institutes like the FED and consumer protection groups like the CPB are important and we should have them as non corrupt and robust as possible. Because it just doesn’t seem wise to trust asset managers with these kinds of things without a lot of evidence and transparency. The 2008 crisis should have taught all of us that much.
- caycep 4mo agoHow did they push this through? Trumpian regulators?
- wmeredith 4mo agoEssentially, yes, as I understand it. Elon's "investment" of millions in the current administration is paying dollars on the penny.