I am considering the same. Of course this happens to be a bad time to sell with the Iran war. Maybe we finally found the real reason for the war (only 90% sarcastic).
So far only the Nasdaq-100 has gone along with SpaceX's special weighting chicanery. The biggest fund which tracks the Nasdaq-100 is QQQ. Suffice to say, if you have money in QQQ you should be re-considering that position.
The question is what can we do about it? Nasdaq finalized these rule changes already. It seems like this got rammed through and now it is happening. And I don't expect Trump's corrupt SEC to do anything about it. Who else can we appeal to?
You can praise the technological achievements while still thinking the underlying business is trash. Plenty of horrible companies have generated great advances, but your money in them before mine thank you very much.
maybe it's the histrionics? Thse personalities are inevitably inflating their own balloons in order to cash out, but that doesn't mean the reality is these companies are worthless. The downvotes come from comments like "OpenAI is trying to dump their garbage". At best that's a silly thing to say. We can argue "fair market value" but it's not zero.
What is the fair market value of an AI company that loses >$10B/year? Of course they have assets that could be stripped and sold for profit but public creditors come last. It's also going to be no where near their private valuation.
because its not accurate. they're milking the market. not dumping on the market.
they're only (sic) going for 75 billion. with an evaluation in the trillion mark.
This is just more speculative investment. you'll see this again in another year or so with a bigger evaluation on it... it's how the modern economy now "works".
“It occurred to me that if I could invent a machine - a gun - which could by its rapidity of fire, enable one man to do as much battle duty as a hundred, that it would, to a large extent supersede the necessity of large armies, and consequently, exposure to battle and disease [would] be greatly diminished.”
― Richard Jordan Gatling, 1877
But imagine the efficiencies to be gained if you swapped out the direct human operator with an automated operator. Then, you can have teams of automated operators being operated by a single human!
They do own some vertically integrated products like PeopleSoft that use these lower level foundational pieces. But I agree, I don't know why anyone in their right mind would use Oracle outside of golf and sailing bribes.
Sadly, this is not the only trash that is going to be hoisted on us retirement investors. OpenAI is waiting in the wings as well.
I am sure I am not the only one. That doesn't seem like it will be good for the market.
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