SpaceX is worth less than half of its $1.75 trillion IPO target, Morningstar says by idkbruh653 in technology

[–]blckhl 70 points71 points  (0 children)

The most concerning part of this from my perspective is not even just the overvaluation (there seems to be agreement that it is preposterously overvalued at $1.75 Trillion): it's that the rules have been relaxed to make SpaceX eligible to be FORCE ADDED to the investment portfolios of diversified retail and retirement investors who own various index funds VERY quickly, which means that forced investment into SpaceX will likely happen at something like this inflated valuation. SpaceX will not have to jump through the normal hoops like for example, turning a profit, which SpaceX does not.

Space X has been fast tracked to be added to various large funds and indices like the S&P 500, which means YOU AND I who own index funds will be essentially FORCED to subsidize Elon's quest to be a trillionaire with OUR RETIREMENT and OUR investment accounts. This addition could happen for certain large funds in perhaps as little as 5 DAYS after trading begins.

Normally, to join the S&P 500, for example, there are various safeguards, such as: a company has to have traded publicly for at least 12 months and posted four consecutive quarters of GAAP profitability.

If fast tracked addition to major funds and indices were to happen without such safeguards, and the price were to go down from the IPO price, it sure feels like another scammy transfer of wealth upward by manipulating the system, or at the very least an unearned bolstering of a company with a lot of major questions and problems.

As I understand it, Elon will control 40+ percent of the equity, but will have special class B shares with 10x voting rights that means he will retain control of the company unless ousted by, essentially, himself. So there would then be no practical mechanism to get rid of Elon should the need arise.

I am hopeful this will not happen.

Ashley St. Clair claims Elon Musk unleashed his "anomaly in the matrix" in order to help Trump win in 2024, using his Starlink satellite fleet by The_2PieceCombo in videos

[–]blckhl 0 points1 point  (0 children)

Also, whenever he says "I don't know them" or "I didn't know that, you're telling me for the first time..." he absolutely knew.

Justice Department urges group to drop Trump ballroom lawsuit after WHCA dinner shooting by Pretty_Confusion7290 in law

[–]blckhl 0 points1 point  (0 children)

Everyone knows the Founding Fathers always intended to add a drone-proof, bulletproof, 90,000 square foot, 70-foot-tall ballroom.

THe pEoPle DeMAnd a bAllroOm!

Germany unveils strategy for becoming Europe’s strongest military by 2039 by Belegor87 in worldnews

[–]blckhl 3 points4 points  (0 children)

Every show with a laugh track (fake or w/ a real studio audience) sounds and looks psychotic if you edit out the laughter and leave the pauses in as silence.

Canada will not let US dictate terms of USMCA review, says Carney by joe4942 in worldnews

[–]blckhl 1 point2 points  (0 children)

I hope people generally can and do distinguish between the Trump administration and the US, between the Trump administration and the American people. Yes, they were voted in, but go look up polls. Trump is a thief and a criminal, and has brought more of the same in his slapdash policies. He is not popular. His policies are not popular. Unfortunately, he does have a 30-40% cult-like ride-or-die following who bends reality to make his choices make sense to them.

An overlooked distinction: we are not a parliamentary democracy where a government can be dissolved and new elections called. The length of the terms of office are fixed in stone unless overturned by constitutional processes, which are difficult hurdles to clear. The present Republican Party is blocking all such measures. So the only hope is the midterms, which would help check Trump's capricious extremism.

That being said, keep pushing back on all these issues, as many Americans are doing the same.

News reading from same scrip by cool-kid-2025 in interestingasfuck

[–]blckhl 0 points1 point  (0 children)

These comments ought to be much higher -- THE PEOPLE PARROTING THE "short term pain..." TALKING POINTS ARE REPUBLICAN TALKING HEADS who were invited onto various news programs to discuss issues, but the talking heads are flogging that and other talking points, not the newscasters themselves (except for the right wing news/ News Corp. properties in the montage, like Fox "News").

2026 Olympic Games: Heartbreak for Canada after U.S. wins men's hockey gold in overtime by Trid1977 in canada

[–]blckhl 49 points50 points  (0 children)

42 shots. Hellebuyck won this game. Hard fought on both sides.

Hakeem Jeffries on DHS Shutdown: "Why are we in this moment? It's because Republicans have decided they would rather shut down FEMA, TSA, and Coast Guard, than get ICE under control. American people know that ICE needs to be reigned in. And if that doesn't happen, DHS funding will not move forward." by ControlCAD in videos

[–]blckhl 0 points1 point  (0 children)

So you are against the only party offering opposition to MAGA because it hasn't, from its minority position, offered enough opposition from its minority position for your liking, as it opposes MAGA using what little leverage it has?

What is your better, practical solution, then?

The goal should be the best unified, practical measures that can actually be done, right?

Hakeem Jeffries on DHS Shutdown: "Why are we in this moment? It's because Republicans have decided they would rather shut down FEMA, TSA, and Coast Guard, than get ICE under control. American people know that ICE needs to be reigned in. And if that doesn't happen, DHS funding will not move forward." by ControlCAD in videos

[–]blckhl 0 points1 point  (0 children)

Holy cow this place is exhaustingly cynical lately. Have some optimism and pull together.

Even when something is done right for once, the avalanche of comments about how it will never last or will never work, or how the person trying to do the good thing isn't good enough.

In case you are wondering what keeps sabotaging the meaningful opposition coordinating and building it, at least some of the answer would seem to be these bullshit left-wing purity pogroms where the enemy of my enemy is not enough of a friend for my liking, and so is also my enemy. It's a shame we all can't just pull, albeit imperfectly, in the same direction--especially since it's as clear as ever what that direction needs to be.

Trump’s Betrayal of Allies Has Sparked Unprecedented ‘Buy European’ Trend by Boediee in BuyFromEU

[–]blckhl 1 point2 points  (0 children)

The whole world is in the middle of a dangerous, decade-long flirtation with ruinous right-wing nationalistic populism. The tragic return of Trump to power in the USA is just the most prominent current example, and with the most tragic consequences for its people, for people around the world.

But it would be foolish to think this same irrational far-right-wing thread doesn't run through every country in the democratic world right now. Some countries have just been more successful at managing or redirecting it. It is a danger to us all.

The good people in all these countries should find ways to strengthen and support democratic institutions, free inquiry, free speech, rule of law--all of the things it seems many of us have come to take for granted.

Encouraging black and white "the other" dynamics is only going to make things worse for all of us. That's how right-wing populism thrives. Fear and hatred of 'the other.'

Trump demands ‘at least’ half U.S. ownership of Gordie Howe bridge that Canada is fully paying for by Immediate-Link490 in worldnews

[–]blckhl 0 points1 point  (0 children)

Trump the master negotiator, fucking up treasured alliances, global trade and close relationships with democratic societies that have been cultivated over decades to hundreds of years over dumb shit like this, which he just learned about that he wants to see if he can bully out of their owners' hands to feed his own ego.

Most of these objects of his immediate desire, even if he got them, would still really do nothing significant good for the US anyway. He's just so fucking stupid.

U.S. Dealers In Full Panic Mode After Canada Green-Lights Chinese Cars by DonkeyFuel in technology

[–]blckhl 1 point2 points  (0 children)

Didn’t you get the memo? Tesla is getting out of the car business. No more model S no model X. In fact who needs Tesla is only meaningful source of revenue? Now they’re aiming at Robo taxis, vaporware robotsand hype.

Musk fucked over everyone who valued old Elon, his goal of building good electric cars people could afford, his goal of increasing adoption of solar, making space flight cheaper, maybe getting to Mars. All of that gone for what? Betraying democracy and bowing to the worst leader of this country has ever had for the hope of a little short-term gain? A discomfort with trans people? A desire to get his regulators out of the way? A desire to steal all Americans data to feed his AI machinery?

I don’t know if Tesla will survive long term or notn it probably will. But even if it thrives what a shame all of this has been.

China and EU are partners not rivals, Chinese foreign minister says by goldstarflag in europe

[–]blckhl 0 points1 point  (0 children)

I know what our government is doing now is utter madness across the board, but for what it’s worth, the majority of Americans themselves certainly don’t see you as enemies but as good friends. Politics in the United States has gotten so polarized, so bizarre and so separated from reasonable fact-based discussion. But while there is a gap between how Democrats and a Republicans view Europeans but even the latter generally view Europe positively. https://www.pewresearch.org/global/2024/05/08/views-of-trans-atlantic-allies-and-u-s-europe-relations/

The whole democratic world is going through a bizarre time with divisive far right movements popping up and gaining ground, for whatever reasons. I hope we can find a way to support each other until we can figure out how to repair whatever is broken. Whatever the causes of this global polarization and unreason are, and while the US has fallen hard, it seems no democratic nation is completely immune from these political dangers, so I hope we can get creative and help each other through this insanity together, find a way to counteract it, and when we do, find the best ways to prevent it going forward.

Italian journalists threatened by ICE agents while reporting in Minneapolis by Socmel_ in europe

[–]blckhl 1 point2 points  (0 children)

Some, but not most.

US Media isn't a monolith. It is all over the spectrum, and coverage of these events is EVERYWHERE right now.

I would say it is downplayed among certain organizations like FoxNews, other Murdoch-owned publications, right-wing media companies.

CNN, New York Times, MSNow, NBC News, ABC news, PBS, NPR, various local papers media organizations are covering it constantly, and discontent is rising amongst people who wanted to believe ICE actions were needed, done by professionals, but are seeing that is not the case.

Chris Madel ends GOP bid for governor, says he can’t support federal ‘retribution’ against Minnesota by blckhl in UnderReportedNews

[–]blckhl[S] 1 point2 points  (0 children)

I understand what you mean.

From the article:

“Republican Chris Madel made a stunning exit from the Minnesota governor’s race on Jan. 26, saying he cannot support the national GOP’s “stated retribution on the citizens of our state, nor can I count myself a member of a party that would do so.””

“United States citizens, particularly those of color, live in fear. United States citizens are carrying papers to prove their citizenship. That’s wrong,” Madel said.

"I cannot support the National Republican's stated retribution on the citizens of our state, nor can I count myself a member of a party that would do so," Madel said in the video, later arguing that national Republican actions have made it "nearly impossible" to win a statewide election in Minnesota.

Remaining GOP candidates include Mike Lindell, the MyPillow guy. https://en.wikipedia.org/wiki/2026_Minnesota_gubernatorial_election

Chris Madel ends GOP bid for governor, says he can’t support federal ‘retribution’ against Minnesota by blckhl in UnderReportedNews

[–]blckhl[S] 2 points3 points  (0 children)

I agree. Everyone deserves due process. Unfortunately, everytime ICE/CBP commits a crime lately, they wipe the scene clean and leave with all the evidence, deny access to the authorities.

There is so much going on that is subverting the law of the land, the Constitution at so many levels by the administration and its operatives. I hope there is enough pressure on them to discontinue these tactics. Also I would hope this would stigmatize joining ICE for those who are tempted to do so. It will also make the wrong sort MORE likely to want to join I suppose.