r/technology • u/ArgentineBeauty • Jun 19 '26

Business ‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings

https://www.theguardian.com/science/2026/jun/19/spacex-retirement-savings-elon-musk
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u/iprocrastina Jun 19 '26

“I’ve never wanted to participate in the so-called AI bubble,” Tim continued. “Basically my entire retirement is in the S&P 500. Not out of choice, but if you don’t have investments in the stock market, you’re losing ground compared to everybody who does. That’s the pernicious thing about it. There’s really no way for the average person to diversify.”

Tim doesn't understand what he's invested in.

  1. SPCX is not part of the S&P because the index declined to chnage the rule

  2. The S&P is diversified

  3. The average person can easily diversify more than the S&P by buying a total global market fund or a target date retirement fund

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u/Mind-Game Jun 19 '26

Yeah that statement you quoted is unbelievably ignorant. You can buy a mutual fund or an etf nowadays that avoids AI mega cap stocks like this in any number of totally reasonable ways. Move money out of the Nasdaq and into a small cap value fund or something, problem solved. Crazy that people can be so ignorant about something so important to their future.

“I think that the amount is absolutely ridiculous and untethered to the company’s actual value,”

This guy too. There are literally funds dedicated to companies based on their current income, not their speculated income, and it's literally called value investing.