IYH Essay for essay the best value on substack. FWIW when I analyzed in 2010 the Flash Crash, and talked to HFT guys, and realized retirement funds were being fleeced by exactly the same predictable on-this-date-we-do-X engineered liquidity arbitrage, I was told the retirement funds guys deserved it for being so dumb and predictable. It was not seen as affecting millions of Americans, but a game of slow-witted dumb fund managers vs hypersmart algo guys.
FWIW Credit Suisse in 2015 actually published several datasheets showing the exact 'commands' in Dark Pools and elsewhere the 'commands' used by HFT for this algo market manipulations. All out in the open, this is how shameless this is.
Great perspective. The AI race isn't just about building the best models anymore. It's becoming a competition for talent, infrastructure, and speed of execution. The companies that attract the strongest researchers and ship products quickly will likely have the biggest advantage over the next few years. I'm curious, do you think access to top talent is becoming a bigger competitive edge than access to funding?
Take some fresh fruit, mix it with some rotting seafood, call it an "innovative dish," and swallow it down — now you just sit and wait to find out when the diarrhea hits. That's basically what a SpaceX IPO is doing. The real question at this point: are there enough toilets and toilet paper to go around?
Don’t take financial advice from someone who can’t spell or proofread (or from Substack in general) - if you see a headline with a mistake 4 words in, probably a bit risky to assume there aren’t any issues in the parts that’s materially more complicated than copywriting. Ironic.
I agree with you. It is a very bad idea to include unproven, unprofitable, cash burning new companies in indexes. That defeats the original intent and purposes of the indexes.
But you are barking up the wrong tree. Elon is not forcing anyone. S&P500 refused to change its rules. But other indexes are all too eager to include SpaceX in their indexes.
The IPO is over subscribed by 300%. Everyone wants in. Probably an indication of a bad idea.
Space x literally spoke to Nasdaq about index inclusion as a condition for listing in there. So this isn't just the indexes operating like this. Also the IPO is oversubscribed because of the forced liquidity. Refer to DBs comment on the same.
Xai - part of the Space X “bundle” is hemorrhaging ~1 billion monthly and erasing profitability of the rocket and satellite divisions resulting in a net multibillion dollar loss. At the same time forcing funds to use 401ks, pension funds to own overpriced garbage before price discovery.
Before AI bubble pops. Open ai & Anthropic both are in a rush to scalp Americans as well.
An astroturfed, pseudo genius oligarchic conman is angling to become the first (known) trillionaire by literally robbing Americans who have worked & saved with the hopes of a better future. Surely he will this grotesque windfall of ill gotten gains to improve the human condition…
“Our” financial regulatory/oversight system is captured - along with health, defense, intelligence, agriculture etc. This clearly did not happen overnight.
“Slowly at first then all at once” Earnest Hemingway when asked how he went broke.
IYH Essay for essay the best value on substack. FWIW when I analyzed in 2010 the Flash Crash, and talked to HFT guys, and realized retirement funds were being fleeced by exactly the same predictable on-this-date-we-do-X engineered liquidity arbitrage, I was told the retirement funds guys deserved it for being so dumb and predictable. It was not seen as affecting millions of Americans, but a game of slow-witted dumb fund managers vs hypersmart algo guys.
FWIW Credit Suisse in 2015 actually published several datasheets showing the exact 'commands' in Dark Pools and elsewhere the 'commands' used by HFT for this algo market manipulations. All out in the open, this is how shameless this is.
That's messed up
Space x literally spoke to Nasdaq about index inclusion as a condition for listing in there. So this isn't just the indexes operating like this.
Also the IPO is oversubscribed because of the forced liquidity. Refer to DBs comment on the same.
Great perspective. The AI race isn't just about building the best models anymore. It's becoming a competition for talent, infrastructure, and speed of execution. The companies that attract the strongest researchers and ship products quickly will likely have the biggest advantage over the next few years. I'm curious, do you think access to top talent is becoming a bigger competitive edge than access to funding?
Take some fresh fruit, mix it with some rotting seafood, call it an "innovative dish," and swallow it down — now you just sit and wait to find out when the diarrhea hits. That's basically what a SpaceX IPO is doing. The real question at this point: are there enough toilets and toilet paper to go around?
Don’t take financial advice from someone who can’t spell or proofread (or from Substack in general) - if you see a headline with a mistake 4 words in, probably a bit risky to assume there aren’t any issues in the parts that’s materially more complicated than copywriting. Ironic.
..or quantitative easing with a new system, once the clarity act is signed in a few weeks
Would you have cared if Elon was not involved? Did you complain about Google being controlled by the founders in the same manner?
The article is about forced index buying not the corporate structure
he will steal? By offering the best growth potential on the planet? Interesting take...
You're free to invest your money then. But he shouldn't be forcing indexes to accommodate his stock
I agree with you. It is a very bad idea to include unproven, unprofitable, cash burning new companies in indexes. That defeats the original intent and purposes of the indexes.
But you are barking up the wrong tree. Elon is not forcing anyone. S&P500 refused to change its rules. But other indexes are all too eager to include SpaceX in their indexes.
The IPO is over subscribed by 300%. Everyone wants in. Probably an indication of a bad idea.
Space x literally spoke to Nasdaq about index inclusion as a condition for listing in there. So this isn't just the indexes operating like this. Also the IPO is oversubscribed because of the forced liquidity. Refer to DBs comment on the same.
Well, that's the point, NASDAQ wants the listing lol. They could have said no.
Because NASDAQ wanted the $$$
If the growth potential is so good then why all the shenanigans?
What shenanigans? You mean Elon retaining control? Did you know Google has the same control structure?
The forced index buying shenanigans ken.
That is the index companies being greedy. S&P500 refused to change its rule.
I don't disagree that the indexes are at fault..that's why the actions focus on them.
But there's also a lot of lobbying and manipulation going on SV side..since I'm a tech writer, I'm focusing on that.
I am looking forward to your equally enthusiastic focusing on Open AI and Antrophic IPO inclusion in those same indexes too.
Xai - part of the Space X “bundle” is hemorrhaging ~1 billion monthly and erasing profitability of the rocket and satellite divisions resulting in a net multibillion dollar loss. At the same time forcing funds to use 401ks, pension funds to own overpriced garbage before price discovery.
Before AI bubble pops. Open ai & Anthropic both are in a rush to scalp Americans as well.
So way less than cool
Forcing funds to use 401ks, pension funds to own overpriced garbage before price discovery?? … yikes
Yikes is right.
An astroturfed, pseudo genius oligarchic conman is angling to become the first (known) trillionaire by literally robbing Americans who have worked & saved with the hopes of a better future. Surely he will this grotesque windfall of ill gotten gains to improve the human condition…
“Our” financial regulatory/oversight system is captured - along with health, defense, intelligence, agriculture etc. This clearly did not happen overnight.
“Slowly at first then all at once” Earnest Hemingway when asked how he went broke.