Most leading Rationalists are autistic, but many of them are in denial. Many are Jewish or have Jewish parents. You can debate which kind of folly let them embrace eugenics and white supremacism: are they brain-proud and desperate to believe that they were destined from birth to rule? Sure that they just have eccentric Ashkenazi genius genes not inferior Autistic genes? Naive that the deportations would stop with black and brown people? Their favourite Catholic fantasy author had some warnings for them.

Masnick also has a story on how Musk got away with hiding just how many Twitter shares he owned when he bought the company https://www.techdirt.com/2026/05/11/elon-musk-settles-sec-lawsuit-for-spare-change-proving-once-again-that-rules-are-for-other-people/

Mike Masnick had a look at Twitter’s financials in the SpaceX IPO. From $4.5 billion in ad revenue in 2021, twitter + Grok is down to $3 billion ad revenue a year (and losing $6 billion a year just on the CSAM-generating chatbot). His billionaire friends tossed in $2 billion or $250 million each into the kitty after a brief chat back in 2022.

don’t kinkshame

Back in my day California perverts said “don’t scene in public”

Anthropic (who own Claude Code) are hoping to IPO this year.

Yes, you want to avoid conflicts of interest like an advisor employed by a bank selling that bank’s financial products.

A financial advisor or financial planner can add value in areas like:

• set you up making monthly contributions to something broadly reasonable
• helping you figure out what types of insurance you need
• keeping you from putting all your money in stocks that are booming, then selling them all when they crash and staying uninvested for years
• help you decide whether to keep your emergency fund in a high-interest savings account, a money-market fund, or a regular bank account
• avoid paying too many taxes on your investments

But many are collecting 1%+ a year to decide whether to buy Honda stock or BMW stock, and there is very strong evidence that this adds no value. (eg. my current employer’s pension fund charges 1.65% a year) For everyone managing $100 million who does 1% better than average, someone managing $100 million has to do 1% worse, and how can you pick the right one in advance? Even if you do, what happens if they have a stroke and their risk-taking assistant takes over the fund?

FTX investor the Ontario Teachers’ Pension Plan is a major investor in SpaceX. This seems to be part of the Teachers’ Innovation Platform from April 2019. Mr. Kipling said it best:

As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool’s bandaged finger goes wabbling back to the Fire.

Meanwhile the Canadian stock market is up 40% in the past 1 year.

And the people making these decisions know that they don’t invest much in China because they don’t trust Chinese government statistics and the Chinese stock market is rigged. They know that it is hard to get middle-aged schoolteachers and plumbers to put their savings on the stock market even if that market is scrupulously honest. But the USA has been the center of global capitalism since about 1917 and it is hard for them to imagine that changing.

Forbes says he is Quebecois with a PhD from UWaterloo. That does not stop him tweeting about “foreigners” (= foreign to the USA, but not including him obviously).

He already pulled the same con on a Japanese billionaire in 2018, just talked about flying around the moon not landing on Mars (Wikipedia: dearMoon)

I don’t know Guillaume Verdon / Beff Jezos but Forbes’ profile begins:

Andreessen Horowitz cofounder Marc Andreessen says @BasedBeffJezos is a “patron saint of techno-optimism.” Garry Tan, who cofounded the venture firm Initialized Capital before becoming CEO of Y Combinator, calls him “brother.” Sam Altman, who founded OpenAI — the company that finally mainstreamed artificial intelligence — has jokingly sparred with him on Twitter. Elon Musk says his memes are “🔥🔥🔥.”

He has an entry on the Effective Accelerationism wiki https://www.eaccwiki.com/index.php?title=Beff_Jezos

I am not a CPA but I think that means “they spend $2.22 to make another $1.00”

If the global economy collapses over the Gulf War, watching Sam Altman do a Wile E. Coyote in mid-air will keep me amused on the bread line.

Seen elsewhere: “Is Stripe the Most Anticipated IPO Since Coinbase?”

Nate Soares actually has some work experience at big organizations (NIST, DND, Google, Microsoft) but he clearly is not ready to run a research group https://en.wikipedia.org/wiki/Nate_Soares He let the HTTPS certificate for his personal site expire.

So a mid-sized software company called Epic is chatting with Cremieux / Jordan Lasker on twitter?

If your employer is using their software, that might be something to email and ask for a meeting about.

Owenomics is also worried about changing the rules to add SpaceX and OpenAI to NASDAQ and the S&P500 while only a tiny fraction of their shares are available for trading. "Bad idea. If float is too low, the market cap is meaningless and should not be relied upon for any purpose. "

Back in January he said that the US stock market is not in a bubble until Robert Shiller’s “CAPE rises to 80 (similar to Japan’s CAPE in 1989).” The CAPE (a ratio of price to the average earning for the past ten years) of the S&P500 is around 40, similar to the US in January 2000.

He does not mention new era thinking (chapters 5 and 6 of Shiller’s Irrational Exuberance).

High-status rats have minions to order their lunches, pick up their shopping, and inflate their bike tires and yell at them if they make mistakes https://www.lesswrong.com/posts/BGLu3iCGjjcSaeeBG/related-discussion-from-thomas-kwa-s-miri-research

I think that is 30% of 3% of the market cap for retail investors. There are many ordinary people who keep the price of Tesla shares high because they have faith in the CEO, but an index fund spending 0.2% of its money on something then losing it is just an ordinary day (one S&P 500 fund I checked has 4% of its money in M$ which has about twice the market cap as SpaceX wants to have, I assume that at least ten times as many shares of M$ are available to trade on the stock market).

A Substack in the name of Cape Fear Advisors LLC argued that SpaceX wants to get in people’s retirement accounts then say to Uncle Sam “you had better give us lots of contracts or we will crash and take grandma’s retirement funds with us.” Sucking on the government teat has been one of Elon Musk’s favourite strategies since he got access to a State of California green transport grant.

I do not know if that can work because only a few percent of the company will be for sale so they will only be a fraction of a percent of those index funds. They can definitely sell some shares for real dollars, and if they keep the price high they can borrow real dollars against the shares which are not on the market like people borrow against bitcoin.

I will not link because it is in that articulate but empty style that does well on Substack. It may be written by or with help from AI.

SpaceX’s IPO filing has an unusual paragraph on page 235:

On January 13, 2026, our board approved the grant of 1 billion performance-based restricted shares of Class B common stock to Mr. Musk. The restricted shares vest upon (i) our achievement of specified market capitalization milestones across 15 equal tranches and (ii) the Company’s establishment of a permanent human colony on Mars with at least one million inhabitants, in each case, subject to Mr. Musk’s continued employment with us through the date on which achievement is certified by our board. For any tranche of the award to vest, both the applicable market capitalization milestone for such tranche and the human colony milestone must be met.

Until that happy day occurs the shares would be out of Mr. Musk’s hands and safe and secure under the custodianship of the dictator of SpaceX who is (assistant whispers in ears) huh.

Page 166 talks about the old dream of Lunar He3 for fusion power and quantum computing without saying any of those words because people might remember space advocates talking about lunar helium in the 1990s and 2000s:

Once resource utilization capabilities are proven feasible, we believe there is an opportunity to commercialize the harvesting and exportation of rare materials, which is estimated to be present on the Moon in quantities exceeding one million tons and has potential applications in future nuclear energy and quantum computing systems.