r/wallstreetbets
Hedging against Wealth Inequality
A WSB meme post justifying buying SpaceX to hedge against wealth inequality, hoping it moons to avoid working at Wendy's.
- Author decides to buy the stock hoping for massive upside ('mooning') to avoid a low-wage job.
- Participating in the wealth growth of Elon Musk's company as a strategy against wealth inequality.
- Author explicitly calls the company an 'overvalued piece of crap' and acknowledges it could go down.
- Investment thesis is purely a meme lacking any fundamental or financial analysis.
When John D Rockefeller became the first billionaire in 1916. The average American salary was only $800. Meaning Rockefeller's net worth in 1916 was 1.2 million times more than the average salary at the time.
Today, the average salary is $70,000. And unless you're living under a rock, Elon Musk became the first Trillionaire a few days ago. Meaning Elon Musk's net worth is 14 million times more than the average salary today
That means the gap between the richest person and the average american has more than 10x in 110 years. Wealth Inequality today is worse than Gilded Age levels
This is why I will buy SpaceX and become a bagholder. To close the gap between the Rich and Poor. If the stock goes down, I work at Wendy's, but atleast Elon won't be a Trillionaire anymore. But if this overvalued piece of crap somehow keeps mooning, atleast I don't have to work at Wendy's anymore.