Musk's Galactic Ripoff

5 hours ago

Elon Musk's SpaceX IPO is set at a fixed price of $135 per share, aiming for a valuation of $1.77 trillion despite $18.7 billion in revenue and a $4.2 billion operating loss.
The IPO lacks transparency, with Musk's self-dealing between SpaceX and xAI inflating value and no governance checks; Musk holds 10x voting power, leaving shareholders voiceless.
Investors may be forced into SpaceX via manipulated stock indices (e.g., Nasdaq 100's 'fast entry' rule), risking retirement savings while insiders profit and exit early.
The author criticizes the setup as a Ponzi scheme, redistributing wealth to Musk and allies, and calls for consumer and policy resistance.

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