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Comment by tcp_handshaker

8 hours ago

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

16 comments

tcp_handshaker

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l23k4  7 hours ago

[flagged]

  • buggy6257  4 hours ago

    Two of those YouTube links are to Patrick Boyle who is a very respectable and knowledgeable ex hedge fund manager who dives DEEP into the topic while remaining entertaining. It’s a hilariously outdated take to say that YouTube content guarantees a lack of value or authority.

    • red-iron-pine  3 hours ago

      Patrick B is also a finance professor and most of his presentations (generally) maintain a level of academic rigour.

      he got into the youtube during covid because he was posting YT vids for his students, and they just kept sharing them with everyone; he just ran with it

      also: he talks deliberately slowly for subtitle and non-english speaker purposes; use the settings to speed him to x1.25 or x1.5 speed

tejohnso  7 hours ago

> 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  6 hours ago

    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  5 hours ago

      > 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.

vessenes  7 hours ago

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.

  • 3ashg  6 hours ago

    > 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.

beernet  6 hours ago

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.