SpaceX needs 4 profitable consecutive quarters to be included. If you have a lot of faith that they will achieve this I recommend you buy day 1 so you can ride the highs when the passive money eventually pours in.

A large share of invested money is passive, especially in the S&P 500. If some people pull out, it could cause a very damaging cascade. There would be a forced sale of stocks with maybe no buyers.

You've used the word "inevitably". Are you sure it's inevitable? SpaceX is launching at a ridiculous valuation, has two bad businesses bolted on to one modestly successful one, and all together the revenue puts the company well behind companies with a market cap vastly smaller than what they're pricing the IPO at.

This is a ridiculous situation, a ridiculous valuation, and a very risky business (data centers in space? c'mon, be serious).

Their job, EXPLICITLY, isn't to maximize returns.

People don't buy the S&P 500 because they buy the index because it spreads risk. That they won't get maximum returns is the intended risk tradeoff they want.

That people consider the S&P 500 as a vehicle for "maximum money" is precisely why it should be considered in a bubble. And why actions like the NASDAQ's fast-track exceptions are so concerning.

The moment you start making exceptions to the rules because "gotta push the stock index higher", it's game over for the entire economy.

> ... Standard and Poor one day being worth trillions ...

S&P - https://en.wikipedia.org/wiki/S%26P_Global - is a business intel & analytics firm, not an investment firm. Their S&P 500 list just one of many datasets that they manage and sell. Cleverly trying to pick future winners and losers has little potential upside for them, and could put them into direct competition with many of their customers.