Best thing about Hunter Biden is that he's not just endlessly posting. He's actually replying to people whether they insult him or praise him. They're being seen. No matter the size of their account & he's doing it with facts, humor & humility. Great addition to this cesspool.
Wow, the S&P Dow Jones Indices has just officially announced that they will NOT be changing their inclusion rules to make it easier for “MegaCap” companies (such as @SpaceX) to be fast-tracked into the S&P 500.
Their reasoning:
"S&P DJI determined that exceptions to the financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. The decision not to adopt the proposed exceptions preserves core index principles by maintaining consistent application of these key requirements. Although there may be trade-offs between strict adherence to these eligibility requirements and broad representativeness, the current methodology provides substantial market coverage and sector balance. As a result, the indices can continue to meet their stated objectives while preserving their role as representative and investable benchmarks for the U.S. equity market.
No changes will be made to the eligibility criteria including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600 as a result of the S&P Dow Jones Indices consultation on the treatment of MegaCap companies. Accordingly, there will be no changes to existing methodology for this index family."
This means that the earliest @SpaceX could be eligible to be added to the S&P 500 would now be June 2027.
The requirements that will now remain in place are:
• No changes to S&P 500 eligibility rules for mega-cap companies.
• Mega-cap companies will still need to wait 12 months after their IPO before being considered for S&P 500 inclusion.
• S&P will not waive profitability requirements for mega-cap companies. The company must have positive GAAP net income in the most recent quarter, and the sum of the most recent four consecutive quarters.
• S&P will not waive minimum public float requirements for mega-cap companies. At least 10% of a company's shares must be publicly tradable ("free float").
The S&P rejected proposals that would have:
• Reduced the IPO seasoning period from 12 months to 6 months
• Waived profitability requirements
• Waived minimum public float requirements
Make sure you pick a strong password with uppercase letters, numbers, your college maiden name, a hieroglyph, and special symbols so that when it inevitably gets leaked in a data breach and sold to data brokers, at least they can appreciate how strong it was.
If we can’t trust Goldman on which IPO to buy… who can we trust?
WeWork. Goldman Sachs marketed the real estate firm at an inflated 96 billion dollar tech valuation. The IPO was pulled after the prospectus exposed massive losses, leading to a 2023 bankruptcy.
Webvan. Goldman Sachs co-underwrote the online grocer at a 4.8 billion dollar valuation despite minimal revenue. The company collapsed into bankruptcy two years later due to excessive warehouse building costs.
eToys. Goldman Sachs led the dot-com flotation and aggressively overinflated the startup's market valuation. The firm burned through its capital and entered full liquidation bankruptcy by 2001.
Deliveroo. Goldman Sachs acted as lead bookrunner to push an aggressive 8.8 billion pound valuation. The stock cratered 31 percent on day one after large institutional funds boycotted the listing.
Recently my friend asked her adolescent son to find a nonstick pan in the kitchen, and he returned in despair after several minutes, saying, "They ALL have sticks."
Some people say it’s the em dash usage, some say it’s the “it’s not this, it’s that” construction, but I think the biggest giveaway that text is AI-generated is when the dumbest person you know somehow wrote a whole-ass book.
OpenAI is in deep, deep trouble
They are low on capital relative to the massive cash they are burning and there is only so much capital in the world.
No rational person would sell their Bitcoin or Nvidia stock or whatever to buy OpenAI rather than Anthropic.
And nobody is going to acquire OpenAI for a trillion dollars.
Instead, my guess is that they get absorbed by Microsoft or Amazon, at something like 30 cents on the dollar.
Thought my cats were acting a little weird this morning and they apparently put a catnip toy in their water bowl overnight to soak. They made catnip tea.
They're high
The thing about Hunter Biden is that America loves a comeback story.
His mom and sister killed. His brother killed. Ravaged by addiction. Pursued on all fronts.
Comes back a stronger and better man.
Attacking this guy is just gonna play badly.
Coming from a former crack and opiate addict: you can't humiliate or beat down Hunter Biden. He's already done that to himself, so don't waste your time. He beat the odds. He can only go up. He's a role model for sobriety.