Will the SpaceX IPO be one of the best money-making opps in forever, or could it be a giant scam waiting to suck several billion more from the rubes and Musk bros? Or it could just be a dud.
Since the IPO is scheduled for June 12, I figured I'd add this note written today/yesterday from Pinchbeck. Frankly, I think he has leaned on the psychedelics and entheogens a bit much. He is kinda "out there." And then you have Elon, the Ketamine Kid.
I spent the last few days dissecting the SpaceX IPO, which claims it will spread the “light of consciousness” across the universe. What a clusterfuck!
The June 12 offering is not a standard financial prospectus. It is sprawling exercise in hyperstition—a mythic narrative designed to bypass material constraints, coronating Elon Musk as an emperor with no checks on his power I read the SpaceX IPO as an “extinction burst” of post-industrial capitalist machismo as it mutates into a new form of techno-fascism with cosmological pretensions.
The promises of Martian colonies and multi-planetary salvation disguises a mass extraction of public capital. The offering is structurally engineered to funnel the passive retirement savings of millions into the hands of Musk’s elite cronies. They have changed the rules of NASDAQ to ensure that passive index funds (owned by retirees etc) will be forced to buy SpaceX shares at astronomically inflated prices, before genuine market discovery takes place.
A lot of the proposed revenue streams are pure confabulations with little precendent or basis in reality.
Furthermore, while the company presents itself as an aerospace pioneer, SpaceX is actually positioning itself as an artificial intelligence company. They are burning billions to construct massive, highly polluting data centers that bypass environmental oversight.
The corporate structure divorces financial risk from accountability. The IPO grants Musk unchecked, dynastic control while systematically dismantling the regulatory safeguards meant to enforce accountability, democratic process, and government oversight. We are witnessing an attempt to replace rational resource allocation with unaccountable corporate power, packaged as a mandatory step for human survival.
Please check out my breakdown of the financial mechanics, the ecological threats, and the philosophical trickery driving this “moon shot”. I hope you will read the full essay and join our discussion.
https://substack.com/@danielpinchbeck?utm_source=global-search
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