Poor Anchovies.
Grok:
Anchovies' take recycles a common zero-sum view of markets that doesn't match the data.
Stock market isn't "all tech"
- S&P 500 sector weights (as of mid-2026): Information Technology ~32-35%, with the rest spread across Financials (~12-13%), Communication Services (~11%), Consumer Discretionary (~10%), Healthcare (~8-9%), Industrials (~9%), and smaller slices for Consumer Staples, Energy, etc.
- Broader indices and total market include everything from Walmart and banks to energy producers and manufacturers. Tech drives recent gains (AI, etc.), but the market reflects the wider economy.
Average Americans
- 62% of U.S. adults report owning stock (directly or indirectly via retirement accounts, mutual funds, etc.) as of 2025 Gallup data—near historic highs.
- This includes ~71% of middle-income ($50k-$99k) households and even 28% of lower-income (<$50k). Retirement plans (401(k)s, IRAs, pensions) are the main vehicle: ~59% have such accounts, with the vast majority invested in equities.
- Ownership is skewed toward higher earners (top 10% hold most value—~87-93% of stock wealth), but broad participation means millions of retirees, teachers, union workers, and middle-class savers benefit from gains via index funds and target-date funds. Apps like Robinhood, Vanguard, and zero-commission trading have lowered barriers dramatically.
Liquidity and information: Yes, asymmetries exist—insiders and pros have edges.
But public companies file SEC disclosures, earnings calls are public, and low-cost index funds (e.g., S&P 500 ETFs) require minimal research and beat most active managers long-term.
"Oligarchs' realm" ignores how public markets have democratized capital access compared to pre-IPO private deals.
SpaceX IPO context
SpaceX recently went public (Nasdaq: SPCX, ~June 2026) at a massive valuation (~$1.75-2T range), raising billions with strong retail interest.
This opens it to everyday investors via brokerages—not just "oligarchs."
High-risk/high-reward? Absolutely—space is volatile.
But that's capitalism: innovation funding (reusable rockets, Starlink) creates jobs, tech spillovers, and consumer benefits (cheaper launches, global internet). Historical IPOs like this have broadened ownership.
Trump, markets, and hamburgers
Presidents and policymakers track both.
Stock market strength signals corporate health, retirement security, and investment (which funds growth/jobs).
Cost of living (groceries, housing, energy) is separate but linked via inflation, wages, and policy.
Equating market focus with ignoring "hamburger" prices is a false tradeoff—strong economy historically supports real wages and lower relative costs over time.
Opportunity cost and risk: Valid point for poor individuals that don't gamble rent money on single stocks.
Diversified, long-term investing (dollar-cost averaging into broad indices) has compounded wealth for participants despite volatility.
Non-participants miss that upside.
Tech/AI growth isn't zero-sum; it drives productivity that can lower prices and raise living standards (see computing, smartphones).
Markets aren't "rigged" solely for the rich—they allocate capital to productive uses, with broad (if unequal) participation.
Criticizing concentration is fair; dismissing the system's role in funding innovation and retirements isn't. SpaceX going public is more access, not less.