Topic: Spacex Ipo

New rules for the NASDAQ and New York Stock Exchange allow companies to be included in index funds just two weeks after their IPO, down from the previous three-month waiting period. This change forces passive index funds to buy shares during initial volatility, a move described as a "scam" that artificially props up the stock prices of companies like SpaceX or OpenAI.

SpaceX has filed a 308-page prospectus for its IPO, revealing significant investment in AI infrastructure despite heavy losses in that segment. The company's valuation is estimated at $2 trillion, far exceeding traditional sales multiples. Meanwhile, Jeff Bezos argues that AI will not take jobs but will instead act as a "bulldozer" for productivity, potentially leading to a labor shortage and deflation in core goods like food.

SpaceX is reportedly preparing for a $1.5 trillion IPO to raise $75 billion, which would be the largest in history. The move is seen as a way to fund the cash-hungry xAI subsidiary, which is allegedly burning $1 billion per month, as well as the development of Starship and lunar bases. Critics question the high valuation and the quality of xAI's training data, which some label as "junk."