Rules have been suspended so tech tycoons can ruin the retirement savings of regular people.
Many sensible people think these tech IPOs look like a scam or a potential disaster. And that’s because anyone level headed and living in the real world can easily spot that these tech execs are delusional, selfish, out of touch, and don’t really know what they’re doing. They shouldn’t under any circumstances be allowed to ruin the rest of us.
FORTUNE - SpaceX and Anthropic are about to go public—and your 401(k) may be forced to buy in Catherina Gioino By Catherina Gioino News Editor June 4, 2026, 1:10 PM ET Index funds are usually the backbone of most 401(k)s, and because they’re obligated to buy whatever is in the index, changing the rules may be the mechanism that forces one’s exposure to a new IPO, such as SpaceX’s, and eventually Anthropic’s. But simply because SpaceX and Anthropic are so enormous at their debut (SpaceX at $1.77 trillion as of Wednesday and Anthropic expected at nearly $1 trillion), index providers can’t necessarily leave them out. So they’ve shortened or even eliminated the seasoning period, meaning your 401(K) will reflect their presence in the stock market that much sooner. While market bulls eagerly await their opportunity to purchase stocks the second they become available, others warn that the safeguards were in place for a reason, and without them, there could be a serious threat to people’s retirement nest eggs. “We put in place guardrails after the dot-com bubble for a reason,” Elizabeth Wilkins, the President and CEO of the Roosevelt Institute the Roosevelt Institute, told Fortune. “Because we remembered that there’s real downside risk to tying retiree savings to the fortunes of not only corporate America generally, but specifically the tech sector.”
My letter to reps:
I don’t think retirement accounts should be forced to buy shares of SpaceX & Anthropic, or any of these other tech companies led by unstable tech tycoons with infinitely more money than sense. They are ruining everything, and I don’t think taxpayer money should go to these companies, and I don’t think representatives of the people should be allowed to profit based on corporate welfare and funneling taxpayer money to buy them so they can buy yachts and politicians. I think their government contracts should be cancelled. Immediately. And these companies should be shoved in the dustbin as history as they are garbage and this is another financial crisis waiting to happen, and in my experience, the rich aholes are the ones who get bailed out while the rest of us have to eat it. No thanks. Put a stop to this corruption of our society or step aside and let someone else stand up and do what’s needed.
Please feel free to copy or repurpose for your own letters to reps.