Think that Trump's slush fund is audacious because he's stealing BILLIONS?
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What's more, SpaceX has set up two classes of stock. The class that Musk owns has all the power. The class that investors will own has no power. NASDAQ also changed the rules to allow this kind of shareholder ripoff.
For a really good explainer on this criminal insanity watch this video!
- YouTube
Auf YouTube findest du die angesagtesten Videos und Tracks. Außerdem kannst du eigene Inhalte hochladen und mit Freunden oder gleich der ganzen Welt teilen.
(youtube.com)
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For a really good explainer on this criminal insanity watch this video!
- YouTube
Auf YouTube findest du die angesagtesten Videos und Tracks. Außerdem kannst du eigene Inhalte hochladen und mit Freunden oder gleich der ganzen Welt teilen.
(youtube.com)
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What's more, SpaceX has set up two classes of stock. The class that Musk owns has all the power. The class that investors will own has no power. NASDAQ also changed the rules to allow this kind of shareholder ripoff.
"capitalism" was murdered by capitalists
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For a really good explainer on this criminal insanity watch this video!
- YouTube
Auf YouTube findest du die angesagtesten Videos und Tracks. Außerdem kannst du eigene Inhalte hochladen und mit Freunden oder gleich der ganzen Welt teilen.
(youtube.com)
@mastodonmigration Great video. I assumed admin allies would attempt a grand scam like this, but I thought crypto would be the vehicle.
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"capitalism" was murdered by capitalists
@kevinrns it's amazing because you could almost make the case that
capitalism was murdered by "capitalists"
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In simple terms. SpaceX is a meme stock whose fundamentals in no way justify inclusion in index funds. NASDAQ rules have been changed so that it will be included. As a result 401Ks and IRAs will automatically buy the stock, effectively giving this worthless company your money. It is the greatest grift of all time.
@mastodonmigration I liquidated everything last week to money market, not even knowing this. I'm probably early but this insane AI/Space craze is not sustainable.
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@mastodonmigration I liquidated everything last week to money market, not even knowing this. I'm probably early but this insane AI/Space craze is not sustainable.
@david @mastodonmigration The rich appear to have decided that crushing everyone's retirement plans will not harm them in the least, and will hasten our demise. We're just another stock to short, another business to fold. The Senate has beheaded our future, as befits the Confederacy in 2026.
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R relay@relay.an.exchange shared this topic
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In simple terms. SpaceX is a meme stock whose fundamentals in no way justify inclusion in index funds. NASDAQ rules have been changed so that it will be included. As a result 401Ks and IRAs will automatically buy the stock, effectively giving this worthless company your money. It is the greatest grift of all time.
@mastodonmigration its a bit worse - 401ks and IRAs buying it won't directly give the company money (401ks and IRAs aren't likely getting the shares at the IPO - indeed the funds they likely own will have to wait)
So the shares will be bought from either those "investors" (in quotes because this isn't really worthy of the name - who do get IPO allocations, or from insiders (if they can sell shares)
Unless SpaceX does a later follow on offering its only insiders/investors who will profit
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For a really good explainer on this criminal insanity watch this video!
- YouTube
Auf YouTube findest du die angesagtesten Videos und Tracks. Außerdem kannst du eigene Inhalte hochladen und mit Freunden oder gleich der ganzen Welt teilen.
(youtube.com)
@mastodonmigration I watched the recent spaceX via stream and it was so weird to hear people chant "USA" over and over. It's like they can't see all the damage the person who owns the company has done.
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In simple terms. SpaceX is a meme stock whose fundamentals in no way justify inclusion in index funds. NASDAQ rules have been changed so that it will be included. As a result 401Ks and IRAs will automatically buy the stock, effectively giving this worthless company your money. It is the greatest grift of all time.
@mastodonmigration "in-groups protected by securities law but not bound by it, alongside out-groups bound by securities law but not protected by it."
The company is structured by Texas laws so that it is nearly impossible to sue Musk for malfeasance of any kind. Bloomberg's Matt Levine says this is okay, as nobody buying SpaceX stock wants anything except Musk to get away with being Musk. But as you point out, index funds buying this automatically is the actual grift.
