A guy calls his broker and asks about egg futures.
Broker says they’re at 25 cents.
Guy says, “Alright, buy me 100 contracts.”
A week later he calls again.
Broker says, “Good call. They’re at 35 cents now.”
Guy gets excited and buys 1,000 more.
Few days later, he calls again. Eggs are at 50 cents.
Now he thinks he’s a genius, so he buys 100,000 contracts.
Next day they’re at 65 cents. He buys a million.
Then they’re at 95 cents. He buys another million.
Then $1.25. He buys another million.
Next day, eggs are trading at $1.75.
He finally thinks, alright, this is probably enough. Time to take profit.
So he tells his broker, “Sell 2 million contracts.”
After a long silence, broker finally says:
“Sell to who? You’re the egg guy.”
“A family from Mexico arrives this morning legally has as much right to the American Dream as the direct descents of the Founding Fathers.”
Bob Dole accepting the Republican nomination for President in 1996.
It should be a bigger story how much bullshit they've pulled to dump the retirement savings of working class folks into the SpaceX IPO to help Elon rugpull so he can be a trillionaire.
I have to give Elon Musk credit. He is an artist.
It takes the greatest con artist of all time to convince the entire financial system to jailbreak itself to force retirees to fund his $2 trillion pump and dump.
Star Wars making the central figure of their new movie a 50yo baby constitutionally incapable of growing up is a little bit on the nose as critique of their fans
@starsgap@WUTangKids Next week is the 10-year anniversary of the mass shooting at Pulse, a gay club where 49 people were killed. So we could start there, or with the data that LGBT people are five times more likely than non-LGBT people to be victims of violent crime.
https://t.co/yeLLXPAze1
The working class is just cannon fodder for capitalism, and nothing will ever change until we put the prosperity of the many over the greed and corruption of a mega-wealthy few.
This isn’t a Right vs Left issue.
It’s a handful of oligarchs vs the rest of us issue.
They are forcing ~$750 billion worth of SpaceX buying onto the public without most knowing about it.
If it even falls to ~50x revenue people will lose $350 Billion. Insane.
@GregBenage@chrisms150@TetraspaceWest Forever? Waiting six months would mean the indexes no longer index the market?
Or the consumer protection rules are less important than the prospect of the index not perfectly reflecting the market for six months?
@GregBenage@chrisms150@TetraspaceWest Well that’s exactly my point, if you don’t have any guidelines for index inclusion then the private valuation = the market cap once institutional money is plowed in.
I haven’t seen any explanation for why waiting 6 months would be bad for anyone other than insiders
Jensen Huang has spent several years telling investors and enterprise customers that his technology was going to reduce headcount. Over and over.
He’s hoping the people he lied to think he’s just trying to soothe retail ahead of the IPOs.
His con is nearing an end.