This IPO just stinks all around. It is a massive, unashamed pump and dump waiting to happen.
Retail investors get no real voting power. Rules and regulations were changed so that index funds are effectively required to buy into it. The price and valuation are absurd.
The end result will be the US minting a few hundred more billionaires and the world’s first trillionaire, and neither Republicans nor Democrats are standing in the way. In fact, they’re almost certainly benefiting from it themselves in some way even if they aren’t investing in it. After all, someone’s palms got greased in order to make all of this possible.
As with all the circular LLM funding, people are just rushing to get theirs before it all crashes down.
This IPO just stinks all around. It is a massive, unashamed pump and dump waiting to happen.
Retail investors get no real voting power. Rules and regulations were changed so that index funds are effectively required to buy into it. The price and valuation are absurd.
The end result will be the US minting a few hundred more billionaires and the world’s first trillionaire, and neither Republicans nor Democrats are standing in the way. In fact, they’re almost certainly benefiting from it themselves in some way even if they aren’t investing in it. After all, someone’s palms got greased in order to make all of this possible.
As with all the circular LLM funding, people are just rushing to get theirs before it all crashes down.