> Fast entry rules are terrible > just don't buy IPOs ever

Of late the markets have become a casino. There is a large retail population that bets on options. Betting on IPOs is just another opportunity for such folks. By bending the rules Elon and others are trying to make it a more favorable bet for retail ensuring a near-term pop.

Kudos to S&P for standing up and sticking it to the man. And, woe to JP Morgan, Morgan Stanley etc for pushing overpriced paper, and on nasdaq etc for bending rules. This will be remembered later as the peak (my opinion).