this post was submitted on 06 Jun 2026
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S&P 500 rejects SpaceX, also blocking entry for OpenAI and Anthropic (arstechnica.com)
submitted 1 day ago by kinther@lemmy.world to c/technology@lemmy.world
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[–] stringere@sh.itjust.works 4 points 13 hours ago* (last edited 13 hours ago) (1 children)

I'm gonna go look it up now, but for those who follow behind me: can you explain what an S1 is?

Edit to add (emphasis mine):
SEC Form S-1 is the initial registration form for new securities required by the SEC for public companies that are based in the U.S. Any security that meets the criteria must have an S-1 filing before shares can be listed on a national exchange, such as the New York Stock Exchange. Companies typically file SEC Form S-1 when planning their initial public offering (IPO). SEC Form S-1 requires companies to explain the use of capital, outline their business model and competition, and provide a brief prospectus of the security, including pricing and any dilution of other securities.

SEC Form S-1 is also known as the registration statement under the Securities Act of 1933. Additionally, companies must disclose any significant business dealings with directors and outside counsel. Investors can view S-1 filings online to research new offerings before they are issued.

[–] megopie@lemmy.blahaj.zone 1 points 5 hours ago

To clarify why the S1s are so important here. There are a ton of laws that prevent companies that have their shares bought and sold on public stock markets from outright lying about the state of their business to the public. This is to ensure that companies can’t just lie to push up share prices.

Since the most important model providers are currently private, they have not been bound by these laws and have basically been allowed to say what ever they want. With them going public, and the release of the S1s, they need to publicly display accurate financials, not just vague and un verifiable numbers.

The question of “is this just a fad or is this a revolutionary technology that will reshape the economy” is easily answered if we have accurate accounting of the costs to run these business.