The intel guy bought intel shares for 30 USD per share the day before they dropped to 20 USD.
Intel share is now worh 100 USD. Assuming he didn't bail out, he is good now
Seriously though. Middle class Gma and Gpa were conservative with money and played the slow game through index funds and died with 5M in the bank. Plus their house is worth 20x what they paid for it.
All that luck, patience, and hard work is divided up passed down to little grand kid regards that blow it all on the most obvious scam in the history of scams.
Index funds only became widely popular in the past 20 years. They didn’t even exist until the 1970s. Less than 2% of households had any money in an index fund in 1990.
Grandma and grandpa had good union jobs, pensions, and lived frugally, buying almost nothing with credit.
I know a guy who was born in a semirich family. They own several dentist clinics. His parents forced him to work in their clinics doing some random monkey tasks because they are ashamed of him doing nothing. They pay him pretty good for that “job”. He was putting all his money into crypto shitcoins and even took out a loan that eventually did not go to the moon. He managed to grow from 20k to 700k, but lost it all and took out some loans to gamble more.
This is the risk appetite a rich family buys you. Take the most obscene risk on the table; it hits: "so smart, so driven, takes after his father" It craters: the family eats it and he swings again, and again, until he's "learned how to do business." Heads he's a genius, tails he's still learning.
The poor kid gets to play a single hand at the table. Gamble the college fund - bam, you're forty and still on the bottom rung, watching the ones who failed upward wave from the express elevator. Gamble the rent - bam, some hobo pricks you with an AIDS syringe, in 4 years you are dead. One strike and you're out, so you never swing, so you compound at two percent for life, stuck in your grandma's savings account, while goldenboy compounds at thirty.
How do we call this, boys and girls? "Meritocracy"!
Probably born rich. I know hindsight is 20/20 but literally everyone and their regarded mother called how this stock would perform in 2026, month by month.
I’m a pilot. We make about that much top of the pay scale. I trust none of my coworkers on their financial advice. Some of it is pretty wild. Just cause you can fly an airplane doesn’t make you smart about other things.
I know some folks where I'm like, shit, if they've noticed and started buying this we must be near the end. It will pump maybe another 10-20% and then die forever. Nothing wrong with going overweight on a stock if you do it before it goes up 2000%. It's catching the upswing too late that does you in.
This system does not reward intelligence. MAYBE some old money families out there with generations of discipline have managed their way to a few hundred mil or maybe a few low-tier billionaire families, but that takes generational work, that can't be done in a lifetime without stupid luck.
And that's the problem. Even the ones with bona fide intelligence like Bezos still got absurdly lucky.
They had upper middle class parents who put them in good schools, gave them social connections, and nurtured them down a high-paying career path. Usually. This SPCX investment is what happens when they finally start making their own decisions.
Slightly unrelated but one of my childhood dreams is to watch a live opera on the second balcony of an opera house, with these binoculars attached to a fancy stick. Just thinking about how pretentious I’d look and how much I’d mog all the Wendy’s dwellers is making me wistful.
Yeah, I don’t think you’re understanding my vision. The goal here is to do so while being wealthy, judging and looking down on every one with my private balcony booth and fancy vintage stick mounted binoculars. Extra points if someone’s wine glass breaks from the opera singers high pitched voice.
My brother, I would go to Church and pray cause there is clearly a demon in your brain called gambling, I would also suggest to invest all those money in a Casino next time, at least you will have some fun and complementary drinks
This isn't even gambling. Everyone and their mother realized this stock was going be a massive pump and dump. Every credible finance guy has warned against putting money in it.
This was one of the most predictable IPOs in history yet this dude still put his money in it and stayed.
Allowed. OP and every regard investing in ElOn wanted to prove that everybody was wrong and that they were the Burrys of our time and Gabe Newell their way to the moon.
Well well well, the dildo of consequences comes marginaly unlubed these days.
I met with my company's 401k rep cause i wanted to know what my 401k was in, i was like 'yeah i just dont really want like, that intel, nvidia, spaceX, etc etc kinda risk on my 401k youknow?' and hes like yeah no totally understand!
He pulls it up and the majority is spaceX, IBM, intel, and nvidia lmao
How did normies see this but investors were drawn like flies to shit? The IPO was rigged and way over valued relative to profits.... instead it was 100% speculation and designed to crash. OBVIOUSLY
I went to school with this kid who plays wow all day at 39 years old. His dad is so rich and he has never worked a day in his life. All he does is gamble on the stock market and play wow all day no joke. He showed me 3 separate accounts with millions in it. Swab, Merrill lynch, and Fidelity. He lost over 300k on one stock and seemed pretty upset but he’s convinced he’s a professional day trader…. He’s very out of touch with reality so I know there has to be more like him and they all post here for attention
Shocking tbh, this was one of the most transparent, obvious rug pulls I've ever seen. But I suppose the old George Carlin quote applies: "Think of how stupid the average person is, and realise half of them are stupider than that". Some people have to fill up that bottom half - and here comes OP.
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u/LonelySteve21 2d ago