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this post was submitted on 31 May 2026
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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S&P have decided not to allow SpaceX early entry into the index after all https://www.reuters.com/business/finance/sp-global-keeps-fast-entry-proposal-unchanged-spacex-listing-looms-2026-06-04/
"To be included in the S&P 500, a company must be profitable under Generally Accepted Accounting Principles in its most recent quarter as well as for the sum of its most recent four quarters, according to one of the rules S&P left unchanged."
This is just discrimination. Is S&P scared of innovation? HFSP
OpenAI and Anthropic right now: oh no
Part of me wants to believe the whole S&P special treatment announcement was designed to bait them into disclosing numbers, but the more realistic side of me believes this is a nervous backpedal because they've realized the inevitable consequences of allowing this blunder to play out in full.
A company has to disclose a lot of numbers backed by serious legal penalties before an IPO.
Whenever a stock market has gone up 29% in a year and a New Era story is circulating, people with corner offices and Savile Row suite start to do stupid ****. I think that is why financiers started to bend the rules.