Economics
Jun. 8th, 2026 05:07 pmSpaceX rejected in attempt to get listed in the S&P 500 index! Bodes ill for AI IPOs...
As you may have heard, SpaceX has filed to do an IPO (initial public offering [of stock shares]) and go on the stock market. Lots and lots of people are salivating, perhaps Leon Muskbrat most of all. They also filed with the New York Stock Exchange for a quick listing on the Standard & Poor 500 stock market index.
And they were rejected to get listed on that index.
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The AI company Anthropic has also filed for an IPO. It's sealed, so details are not much available, like what percentage of shares will be let loose. But like all AI companies, it is not profitable.
I'm glad that some people still have standards.
So much of the tech industry and AI is just ... hype. People want it to be valuable and profitable. But that doesn't actually make it so. That's before counting the fact that AI value is stolen from other people's work, not creating new worth.
As you may have heard, SpaceX has filed to do an IPO (initial public offering [of stock shares]) and go on the stock market. Lots and lots of people are salivating, perhaps Leon Muskbrat most of all. They also filed with the New York Stock Exchange for a quick listing on the Standard & Poor 500 stock market index.
And they were rejected to get listed on that index.
[---8<---]
The AI company Anthropic has also filed for an IPO. It's sealed, so details are not much available, like what percentage of shares will be let loose. But like all AI companies, it is not profitable.
I'm glad that some people still have standards.
So much of the tech industry and AI is just ... hype. People want it to be valuable and profitable. But that doesn't actually make it so. That's before counting the fact that AI value is stolen from other people's work, not creating new worth.