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Mr. President, we just want lower gas prices
Kit Maher@KitMaherCNN
UFC structure going up on the White House South Lawn for June 14 fight
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The SpaceX IPO is the most brazen retail fleecing in modern market history.
NASDAQ has REWRITTEN the index rules specifically for this listing. The 10% minimum free float requirement: gone. The 3 to 12 month seasoning period before index inclusion: cut to 15 trading days. Companies with small floats can now be weighted at 3x their actual float.
Translation: every passive index fund, every 401k, every pension is about to be force-fed SPCX whether they want it or not.
And what exactly are they buying?
Class A shares carrying ONE vote each, while Musk holds 93.6% of the Class B super voting shares at TEN votes each. That gives him 85.1% of voting power on a 42% economic interest. He cannot be outvoted. He cannot be removed. CEO, CTO and board chairman simultaneously.
For reference: Zuckerberg controls 61% of Meta. Buffett 35% of Berkshire. Musk: 85.1%.
SpaceX is also claiming "controlled company" status, exempting it from needing a majority of independent directors. Shareholders waive the right to a jury trial. They waive the right to class actions. Mandatory arbitration only, courtesy of an SEC rule change pushed through on a party line vote last September.
$1.75 trillion valuation. $80 billion raise. Largest IPO in history.
The rules of the game were quietly rewritten so one man could extract maximum capital from retail while answering to no one.
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@clubbing_guy it has to be rage bait, but someone literally made CRACKER PIE 😂
Criz -Nova- con ningun Republican🤮@crizteeneeta
I will emphatically pass on Premium Cracker pie 🤦🏼♀️
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Nate, it is 2026. The current president of the United States is bragging about taking his dementia test & is going for another "routine" Walter Reed visit.
And... you are still solely talking about Joe Biden.
Are you suffering from cognitive decline?

Nate Silver@NateSilver538
I'm trying to avoid too much confrontation on Twitter these days but it's probably worth asking yourself whether these testimonials to Newsom's electability come from people who thought Kamala Harris and the 2024 version of Joe Biden were strong candidates.
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Either removing or reducing safety net programs, people might have jobs but costs skyrocketed, can't plan for major life changes like buying a house or having a child. Then trying to decide what to do next is difficult and everything is very unstable.
unusual_whales@unusual_whales
BREAKING: Americans are feeling worse about the economy now than they were during the COVID-19 pandemic, the financial crisis, and following the 9/11 attacks, per YF
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The AI Ponzi promoters have to whipsaw between “iTz tAkInG tEh JoBz” and dismissing their own propaganda in order to keep the mass delusion afloat. Pathetic stuff.
David Sacks@DavidSacks
Yes
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