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Sky-High I.P.O. Pricing Isn’t Great for Real People

When newly public companies have been valued as richly as SpaceX, OpenAI and Anthropic seem likely to be, the outlook for ordinary investors has been poor.

© Eric Gay/Associated Press

SpaceX’s Starship rocket during a test flight in May. The company’s chief executive, Elon Musk, stands to unlock a great fortune when the company goes public.

Blue Origin Rocket Blows Up on Florida Launchpad During Test

The rocket, built by the Jeff Bezos-owned space company, was to carry 48 satellites into space. Blue Origin reported on social media that “all personnel have been accounted for.”

© Malcolm Denemark/USA Today, via Imagn Images, via Reuters. Video by Nailah Morgan

The Blue Origin launchpad seen in flames from Cocoa Beach, Fla. on Thursday night.
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