A SpaceX IPO Would Be a Tailwind for SPVs

Maybe the “dumb money” isn’t so dumb after all. 

Over the last two years, Silicon Valley has been flooded with special purpose vehicles that promise individual investors a way to own shares in OpenAI, Anthropic and other buzzy startups. These often seemed like a sure way for individuals to lose money, thanks to exorbitant fees and the funds’ sometimes dubious claims of share ownership. But a SpaceX initial public offering could make these funds look like a smart bet after all.