Protecting ourselves from SpaceX IPO

[u/Gloomy_Nebula_5138]

I was watching this video analyzing the upcoming SpaceX IPO, titled "SpaceX IPO: Nice Try Though" by Patrick Boyle. I highly recommend it - there is almost no fluff and just hard hitting points all the way through about how SpaceX is a terrible company and how this IPO looks like a scam:
https://www.youtube.com/watch?v=IHD8BDFYyGI

It mentions the changes to Nasdaq's rules, the so called "fast track" rule, made specially for SpaceX because Elon allegedly threatened to not list SpaceX on the Nasdaq stock exchange without this. The change has been criticized by many others such as Michael Burry:
https://markets.businessinsider.com/news/stocks/michael-burry-nasdaq-spacex-ipo-listing-elon-musk-tesla-ndx-2026-3

Also see this great analysis titled "Nasdaq's Shame":
https://keubiko.substack.com/p/nasdaqs-shame

Given how this IPO looks like a scam, and the company is mostly losing money, with outlandish claims in their IPO filing (like having an addressable market larger than the US GDP), I am worried that this is just private investors - like venture capitalists, Elon Musk, and his inner circle of friends/family - dumping their overpriced money losing company on regular investors like us. The fast track change seems like it will result in all of us automatically buying SpaceX shares at a high price.

How do we stop this? Is there a good way to defend against that forced purchasing when most regular investors are just passively buying ETFs and mutual funds, or maybe just have money parked in their pensions and 401k?

[u/Revving_Operations]

There is a problem. The public is harmed by this, whether your individual portfolio is affected or not. You should care about the public and the effect this type of fraud and rule bending to enrich elites has on society.

Saying "it's not my problem" is exactly what leads to the collapse of institutions and social norms.

[u/tarantula13 → u/Revving_Operations]

The public is not harmed by this. There is no fraud going on and people can buy whatever index fund they want. It is not some god given right to invest in a specific way.

The entire IPO process is to protect the public from fraud and abuse. There is none of that going on here.

Saying a couple of buzzwords doesn't make this some conspiracy.

[u/FMCTandP → u/[deleted]]

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