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Brisket · 1w
It's currently like your typical ICO scam. Create X tokens & issue 80-90% to insiders with restrictions on their sale. I think SPCX IPO issuance was only 4% of the total equity. 96% of stock is sti...
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Implausible Deniability @Implausible Deniability
They changed the rules insiders can freely sell early, its insanity, they also changed the rules in the SandP500 and Nasdaq, you no longer have to prove to be profitable you just need a high valuation. The outcome is Retirement funds, 401ks and everyones savings is immediately being used as liquidity for AI companies and space x while insiders can leave when they want.
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Brisket · 1w
Yeah - I don't think they can really sell much though. Otherwise it becomes obvious all the valuations are fugazi. My guess is they'll lend against them rather than sell them. If they control the supply they can easily control the unit price & hence the total market cap. Borrowing against over a tr...