If I were the DJI I would have proposed the change, simply so that we could get some outrage flowing and shut it down.

Without the proposal, you'd have outrage out the other side that it wasn't included (especially if it shoots off like, well, a rocket).

> It is what S&P Dow Jones Indices themselves say

No it isn’t. They put rules out for consultation and declined adopting them. Nobody was responding to political anything. If management had a say, they would have probably pushed to adopt the changes.

Then a bunch of influencers turned the whole thing into a conspiracy theory and a shocking number of smart people bought the pitch and churned their retirement accounts.

Quatsch. The indices will say whatever benefits their power the most, regardless of truth. The fact that they are bending now to pressure is proof enough for me.

We live in an age proving that valuation is just a manipulation.

This whole story is just like the BaM situation: the people with more money feel emboldened to pull every dastardly trick they can to tilt the table towards their pockets, away from the honest participants. SpaceX and the AI IPOs are just the latest and most grand scheme. I’m guessing you were surprised by the collapse of lehman brothers back in the day.

> It will absolutely be untenable to keep Anthropic , OpenAI and SpaceX off the S&P 500 with them also being the highest valued companies on the market.

Following the rules of passive indexes is the whole point.

Mēh! The passive indexes (biased to a momentum strategy, so not really passive - they are too big) may have had their day. The blatantly corrupt move to change the rules was clearly an attempt to game them, and even with out the rule change they will squeeze themselves through the rule gate with financial engineering

This will always be the trend in finance, the powerful manipulate the system to their benefit, the rest of us do what we can to survive....