And that’s why I don’t invest in tech ETFs - either with my discretionary accounts or my 401k.

For dumb eurocucks like me:

Many Americans’ retirement savings are heavily tied to the US stock market through private 401(k) retirement savings plans. Those plans are heavily invested in index funds that track the major stock market indices. So even those who do not invest directly in these new tech giants may still end up owning them.

Musk pushed for a rule change to allow SpaceX shares into index funds earlier than is typical, many Americans could find their retirement savings and pensions increasingly tied to the company and other AI firms.

“We’ve all been forced into a giant casino,” said Tim, a 62-year-old engineer based in Alameda, California.

What could go wrong...

It's just the most obvious. ETFs are free money for the elite. Whatever they owe on paper, they will take with healthcare costs when people get old. At no point have the shareholders been in control.