What I’ve seen indicates SpaceX will become something like 0.1% of S&P and 0.5% of Nasdaq. If a retirement fund is one of those indexes, and they get ‘forced’ to buy at 2x SpaceX’s eventual value, then that’s a loss of 0.05-0.2%. $50-200 on $100,000 principal.
Most normal people won’t notice that among the usual stock market noise. Over a hundred million account, though, it’s a huge amount of money getting funneled into the thousands accounts able to front-run the index inclusion, which means, in turn, a huge amount of money getting funneled into the dozens of VCs who got into SpaceX pre-IPO.
It’s like the scam from Office Space where they collect the rounding errors on interest.
RIP our retirement accounts
It’s real fucked up that they just went “you will lose all your jobs, computing, and savings to us”
Maybe we should fucking do something about it.
Won’t someone rid us of these turbulent billionaires?
What I’ve seen indicates SpaceX will become something like 0.1% of S&P and 0.5% of Nasdaq. If a retirement fund is one of those indexes, and they get ‘forced’ to buy at 2x SpaceX’s eventual value, then that’s a loss of 0.05-0.2%. $50-200 on $100,000 principal.
Most normal people won’t notice that among the usual stock market noise. Over a hundred million account, though, it’s a huge amount of money getting funneled into the thousands accounts able to front-run the index inclusion, which means, in turn, a huge amount of money getting funneled into the dozens of VCs who got into SpaceX pre-IPO.
It’s like the scam from Office Space where they collect the rounding errors on interest.
My goodness