As bad as all that is, methinks and meworries that the real objective here isn't SpaceX.
It'll be the bailouts for those two giant turds coming down the IPO pipeline later this year: OpenAI and Anthropic.
Go public on tiny floats, and John Q Public is pouring his retirement money into helping Altman and Amodei fix their circular financing problems with Nvidia and the hyperscalers.
This is what guillotines were built for, once. Let's hope for a bull market in those again.
I read Burton Malkiel's "A Random Walk Down Wall Street" a couple of decades ago, and at the time was pretty impressed with his arguments for investing in the indexes instead of managed portfolios or funds.
But as these index funds gained in popularity, I started realizing that eventually, if they were adopted widely enough, they would at some point erode and perhaps even destroy price discovery. (Consider the extreme case where everyone owns the index and no one evaluates individual securities anymore before buying in.) What happens then, or when that "critical" point might be reached, is anybody's guess. But it was at that point that I abandoned them in my 401Ks and IRAs.
Now it seems they have come up with a particularly sleazy wrinkle. I guess it really IS a big club and we're not in it...
The breadth and depth of your work is simply astounding. Not to mention your powerful and often laugh-out-loud metaphors, plus your occasional, glorious and sophisticated sarcasm. I repeatedly ask myself, “Who ***IS*** this person?” Are you a terrestrial? Personally, I have never known a mere human of your intelligence, insight and endless consciousness, but maybe you are, in fact, a terrestrial being. Wonders never cease, despite how unlikely they might be. In any event, I hope you keep up the good work, because your contributions are not just fun to read, but mind expanding and frequently, mind blowing.
As to the issue at hand, it is very hard to see how this colossally corrupt system will come to an end. Particularly with billions of dollars every payroll cycle being sluiced directly into the pockets of the people who control it, and who are exploiting it to to the maximum in order to loot, to their incomprehensible profit, the people into oblivion.
But yes, we'll probably see a lot of headlines mid June "SpaceX is a success story" etc etc. And even though it'll suck up all the air out of the markets and sky rocket. It won't be on fundamentals.
Oh - that last sentence! It reminds me of another observation from the 1930s when a German writer lets his figures in a play decide that actually, running a bank is more profitable than robbing banks.
(I wonder how many Al Capones have silently been operating on Wall Street ...)
If you ever needed an example of how capitalism is rigged in favor of, and by the cunning, look no further than this example… ordinary, honest, “middle class” people don’t stand a chance
If that reads like a damnation of capitalism, it isn’t meant to. Staunch capitalist here, just envious I’m not more cunning, less honest, extraordinary, or some combination of all.
Combine this (1) mandated support of the SpaceX corporation, with the (2) massive rollout of video cards in data centers, (3) the complete immunity from prosecution that these data centers have, the fact that (4) huge amounts of video processing is needed for volumetric holographic projection displays, (5) Werner von Braun’s warning to his secretary that the space program was going to “play the alien card” last, (6) Isreal’s attempt at sudden complete insertion into the entirety of the U.S. black projects/skunkworks infrastructure, and military structure, with complete access to all secret technologies, with (7) the Disclosure Day movie, (8) the Data centers will have impossibly high power and cooling requirements IF they are used continuously. (9) the widely regarded as hypothetical “Second coming” (in the clouds) of Jesus, (10) Epstein’s close relationships with parties previously mentioned in this list, as well as his proclivities, and what that says about who he was “under” …. And you might start to have a picture forming….
The great holdup: the middle class saves for retirement in index funds, money go to the tech bros pockets. No shame. Golden Age of Grift as shrub says.
This all seems engineered to make money for current shareholders. I smell a rat. I could personally get hurt, bad, for just being in the market. If I do, anyone who gains is gonna be a target. Is there anything that can be done to stop this?
Thanks for the warning - I don't own any QQQ index funds but I need to check my ETFs to see if any own QQQ. A true mess. Yes indeed, "it's a big club and we ain't in it".
My thinking goes: there is no way this can't go up. I will need to sleep on it a little though to see if there's any hole in my theory. But I'd suggest NOT to short it. Don't know to long it yet, and what the repercussions are for the broader markets, but I'll come to that.
Blind Squirrel did a substack in the last 10 or so days where he walks through the mechanics of why he thinks it'll fall. He kept that substack free. I'm staying away from this and don't have an opinion but thought you might like to have a look at his thinking: smart & experienced guy.
Agree. SpaceX has several lockups over a period of months after the IPO that will act like a heat shield to keep the price from immediately burning up on contact with the market. Little by little, insiders will sell their shares while juicing the price through news leaks and pliant-media propaganda. When the final 180-day lockup window opens the float will explode; probably along with one of their Super Heavy rockets.
Motherfuckers!
🎯
As bad as all that is, methinks and meworries that the real objective here isn't SpaceX.
It'll be the bailouts for those two giant turds coming down the IPO pipeline later this year: OpenAI and Anthropic.
Go public on tiny floats, and John Q Public is pouring his retirement money into helping Altman and Amodei fix their circular financing problems with Nvidia and the hyperscalers.
This is what guillotines were built for, once. Let's hope for a bull market in those again.
Yep. I was writing an article about exactly this, and then was like... I first need to explain the rule changes. So, today you'll get that 😉
Son: "Dad, I'm considering a career in organized crime"
Dad: "Government or private sector?"
I read Burton Malkiel's "A Random Walk Down Wall Street" a couple of decades ago, and at the time was pretty impressed with his arguments for investing in the indexes instead of managed portfolios or funds.
But as these index funds gained in popularity, I started realizing that eventually, if they were adopted widely enough, they would at some point erode and perhaps even destroy price discovery. (Consider the extreme case where everyone owns the index and no one evaluates individual securities anymore before buying in.) What happens then, or when that "critical" point might be reached, is anybody's guess. But it was at that point that I abandoned them in my 401Ks and IRAs.
Now it seems they have come up with a particularly sleazy wrinkle. I guess it really IS a big club and we're not in it...
The breadth and depth of your work is simply astounding. Not to mention your powerful and often laugh-out-loud metaphors, plus your occasional, glorious and sophisticated sarcasm. I repeatedly ask myself, “Who ***IS*** this person?” Are you a terrestrial? Personally, I have never known a mere human of your intelligence, insight and endless consciousness, but maybe you are, in fact, a terrestrial being. Wonders never cease, despite how unlikely they might be. In any event, I hope you keep up the good work, because your contributions are not just fun to read, but mind expanding and frequently, mind blowing.
As to the issue at hand, it is very hard to see how this colossally corrupt system will come to an end. Particularly with billions of dollars every payroll cycle being sluiced directly into the pockets of the people who control it, and who are exploiting it to to the maximum in order to loot, to their incomprehensible profit, the people into oblivion.
👽🤖
😂
But yes, we'll probably see a lot of headlines mid June "SpaceX is a success story" etc etc. And even though it'll suck up all the air out of the markets and sky rocket. It won't be on fundamentals.
Yeah, but don't you know? Space is the Place!
https://www.youtube.com/watch?v=4sOIs1u8iwg
But in space no one can hear you scream.
True, but on the bright side, no one can hear you rap.
Oh - that last sentence! It reminds me of another observation from the 1930s when a German writer lets his figures in a play decide that actually, running a bank is more profitable than robbing banks.
(I wonder how many Al Capones have silently been operating on Wall Street ...)
If you ever needed an example of how capitalism is rigged in favor of, and by the cunning, look no further than this example… ordinary, honest, “middle class” people don’t stand a chance
If that reads like a damnation of capitalism, it isn’t meant to. Staunch capitalist here, just envious I’m not more cunning, less honest, extraordinary, or some combination of all.
Larry Fink. 'Next crisis will be a bail in'
Sounds like David Rogers Webb's "The Great Taking" anaesthetized.
https://www.youtube.com/watch?v=dk3AVceraTI&t=1s
Yes. It. Does.
Combine this (1) mandated support of the SpaceX corporation, with the (2) massive rollout of video cards in data centers, (3) the complete immunity from prosecution that these data centers have, the fact that (4) huge amounts of video processing is needed for volumetric holographic projection displays, (5) Werner von Braun’s warning to his secretary that the space program was going to “play the alien card” last, (6) Isreal’s attempt at sudden complete insertion into the entirety of the U.S. black projects/skunkworks infrastructure, and military structure, with complete access to all secret technologies, with (7) the Disclosure Day movie, (8) the Data centers will have impossibly high power and cooling requirements IF they are used continuously. (9) the widely regarded as hypothetical “Second coming” (in the clouds) of Jesus, (10) Epstein’s close relationships with parties previously mentioned in this list, as well as his proclivities, and what that says about who he was “under” …. And you might start to have a picture forming….
The great holdup: the middle class saves for retirement in index funds, money go to the tech bros pockets. No shame. Golden Age of Grift as shrub says.
It's a big club, we ain't in it.
🤣
A proper heist!
This all seems engineered to make money for current shareholders. I smell a rat. I could personally get hurt, bad, for just being in the market. If I do, anyone who gains is gonna be a target. Is there anything that can be done to stop this?
The Law According to Ponzi.
Thanks for the warning - I don't own any QQQ index funds but I need to check my ETFs to see if any own QQQ. A true mess. Yes indeed, "it's a big club and we ain't in it".
My thinking goes: there is no way this can't go up. I will need to sleep on it a little though to see if there's any hole in my theory. But I'd suggest NOT to short it. Don't know to long it yet, and what the repercussions are for the broader markets, but I'll come to that.
Blind Squirrel did a substack in the last 10 or so days where he walks through the mechanics of why he thinks it'll fall. He kept that substack free. I'm staying away from this and don't have an opinion but thought you might like to have a look at his thinking: smart & experienced guy.
Thanks!
For those interested: https://www.blindsquirrelmacro.com/p/the-physics-of-spacex (I didn't read it yet)
Substack was May 24th.
Agree. SpaceX has several lockups over a period of months after the IPO that will act like a heat shield to keep the price from immediately burning up on contact with the market. Little by little, insiders will sell their shares while juicing the price through news leaks and pliant-media propaganda. When the final 180-day lockup window opens the float will explode; probably along with one of their Super Heavy rockets.
https://www.cnbc.com/2026/05/21/spacex-insiders-will-get-to-sell-shares-earlier-than-usual-after-the-ipo.html