Threadguy explains why the SpaceX IPO secretly proved Santa Claus isn't real for the entire TradFi world
"What's so crazy about SpaceX is it launched at the perfect moment, infinite money in the system, everyone rich, every bear capitulated and fully bullish. And it launched in a mechanism that forced all the TradFi players to open their eyes and realize Santa Claus is not real. Because in public, in front of everyone, Elon did what nobody is supposed to be able to do. He finagled the rules, he changed the game, forced his way into the Russell and the NASDAQ on day one, skipped the line, got the red carpet."
"He launched a low float high FDV with 4 % circulating supply, with incentives to force it up so they can unlock after the first earnings, and showed the entire world that the way these things trade is just a social contract. This level of PE is valuable, this level is extended, he broke all of it. Every headline isn't revenue growth or a rocket launch, it's that the market cap is 2 trillion and Elon made more than Warren Buffett's whole career in a day."
"And the irony is the people who made money on SpaceX were retail. There was that cashier with 6,500 dollars trying to scrape together everything to get into the IPO at 135, and everyone screamed top. It's the final boss. Retail in traditional markets has had growing influence for years but never fully flipped the chasm, and this is the memetic final boss where there's a chance retail just flips it. The most entertaining outcome of all time is SpaceX doubles, flips Nvidia, and becomes the most valuable company in the world on air."