Scott Galloway has an interesting take:
https://www.facebook.com/reel/1704598767403425Robert Reich knows a thing or two:
"On May 1, for example, the Nasdaq 100 implemented a new “fast entry” rule that will include companies among the top 40 most highly valued companies — which will almost certainly include SpaceX.
Presto! A big chunk of Americans’ retirement savings and pensions (as well as university endowments) will automatically be tied to SpaceX’s market value. At the same time, all that automatic infusion of investment will artificially jack up the value of SpaceX, at least in the short term.
But here’s the real kicker. SpaceX insiders — such as Musk and, reportedly, senior Trump officials — will be able to sell their shares sooner than is usually the case with an IPO, because that’s the way the IPO has been organized. Which means they can enjoy the stocks’ upward tide as the major indices force millions of investors to buy it, and then they can exit SpaceX before the tide goes out.
If this sounds to you like a Ponzi scheme, it does to me, too. Even worse, it’s a Ponzi scheme that’s been rigged by Musk, with the acquiescence of Trump’s Securities and Exchange Commission, to require that I and probably you put some of our savings into SpaceX."
https://robertreich.substack.com/p/musks-galactic-ripoff They all do it, Proud Gay. Sleepy Joe made a killing from his book sales.
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