"SpaceX is doing a crypto-style fraud, but on the real stock market. The S-1 filing is the white paper. The IPO, lined up for mid-June, is the rug pull.
Space Exploration Technologies — SpaceX to you — is Elon Musk’s rocket company. SpaceX has satellite internet that turns a profit, defense contracting with a solid line of government revenue, a lot of bad rockets that blow up, and a money-burning AI company that has a money-burning social network that’s all but unusable.
None of that matters — because the selling point is Elon magic. The 277 pages of the S-1 are entirely decorative. You know they’re selling Elon magic. If you’re in the market for Elon magic, you’ve come to the right place. [SEC]
Reading the S-1 is like opening a box of unearthly eldritch abominations, all of which are very stupid and trying to pick your pocket.
The S-1 is bullshit. Everyone knows it’s bullshit. SpaceX knows it’s bullshit. The Elon fanboys definitely know it’s bullshit — but they’re buying in anyway.
Why is Spacex doing an IPO now? There’s a few reasons. The market is hot! The S&P keeps hitting all-time highs. Musk wants to get an IPO out before OpenAI and Anthropic. And venture capital for money-burners is drying up.
The big problem for you is that SpaceX is running a stock index scam. This is how SpaceX will pull the rug on your retirement. This IPO is a reprehensible fraud."
https://pivot-to-ai.com/2026/05/28/the-spacex-ipo-works-like-a-crypto-fraud-but-with-ai/
#SpaceX #AI #IPO #AIBubble #AIHype #Musk
Miguel Afonso Caetano 🦾 🌹
npub1ez…apqv4
2026-06-13 23:37:29 UTC
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