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.
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.
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.
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!
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.