hh

[hh @hayeah]

i got a lot done, but none of it very useful.

to

i do a lot of nothing directly.

[hh @hayeah]

@Jesse_Livermore i want spacex in my well diversified index fund

[hh @hayeah]

i am thinking about selling my spx index fund. the idea of owning spacex in it makes me want to puke.

[hh @hayeah]

@EconomPic soon spacex gonna be in the index too

[hh @hayeah]

yuk

[Hedgeye @Hedgeye]

Rule changes for the SpaceX $SPCX IPO:

Index providers waived the profitability requirement and cut the seasoning window from 90 days to 5.

This forces over $30 trillion in passive 401k and retirement money to buy SpaceX at IPO valuations.

Bloomberg Intelligence estimates S&P 500 funds must absorb 19% of SpaceX's float within 6 months.

Russell 1000 and Nasdaq 100 funds will absorb 24%.

The rules built to protect passive investors:

1. S&P 500 has required 12 months of trading and 4 quarters of GAAP profitability since 2002. Both waived.

2. Nasdaq cut its inclusion window from 90 trading days to 15.

3. FTSE Russell cut its to 5.

All three benchmarks are now structured to buy SpaceX at IPO pricing.

[hh @hayeah]

@dwarkesh_sp startup ideas are pretty mid

[hh @hayeah]

drafts are the thinking tokens. write more drafts to think more.

[hh @hayeah]

announcements of announcements. people retiring on their investments and move to se asia. it’s just the beginning.

[hh @hayeah]

human progress will always bail you out one way or another. long only.

[hh @hayeah]

i think that in investing you don’t really have to be right. you can be a value investor, and be totally wrong about where the world is going, be totally wrong about historical pe and regression, but still makes money.

being principled and avoid dumb mistakes.

[hh @hayeah]

valuating blockchains by revenue is fucking stupid. building your thesis on revenue growth projections is even more stupid

[hh @hayeah]

odious that you could ipo at 1T and immediately get included into the index

[hh @hayeah]

i wonder if the concerns regarding tokenized stocks came from the csrc

[hh @hayeah]

this would be an extremely exhausting investment environment. hot balls of cash playing musical chairs chasing the next bottleneck.

[hh @hayeah]

hmmmm... if we are post AGI, then investing in value & defensible businesses probably no longer a good idea. we are entering into bottleneck capitalism.

tsmc is a bottleneck. apple becomes bottlenecked.

[hh @hayeah]

i think the YC motto should be changed to "build what people want to want", because building what people want is being commoditized

[hh @hayeah]

instead of $200 pro plans, we’ll all get universal base tokens at 10 tokens per second

[hh @hayeah]

"errors of 100 times either way will make little qualitative difference in relation to the large logarithmic scales"

[hh @hayeah]

@sovietsoleri @nickcammarata this is you?

[hh @hayeah]

think empathy for different kinds of sentience will become more important. love to see vitalik putting eth to good use.

get more love into the training set!

[vitalik.eth @VitalikButerin]

Sent another 64 ETH to the Animal Welfare Fund.

I encourage others to think and act more in support of our non-human cousins too! The extreme suffering we're imposing on them in the billions is not something we talk about often, but it continues to be one of the larger blights on humanity.

And I'm getting optimistic that this century we can finally end it. Farming practices are improving, synthetic alternatives are improving.

Also, in my recent experience, good old low-tech vegetarian and vegan food has improved massively worldwide over the last ten years; I encourage anyone who has tried it long before and given up to take second look; there are far more healthier and tastier options today than the "pasta and salad" you would often get ten years ago.