I can say with complete certainty that this is our dot-com bubble; the profits of semiconductor companies are real, but they rest on perfect demand expectations. Now I'll explain it simply: end customers buy because of the long-awaited AI revolution, the ability to get...
This is incredibly stupid; the United States has just condemned itself because of the greed of the elites. Infrastructure, energy, healthcare, mass education—all that money could be invested, instead of generating a pretty text compiler. AI is consuming energy, not creating it.
Ladies and gentlemen.
I present to you.
The Holy Grail of Bear Porn.
SPX just had:
▪ A new all time high immediately followed by
▪ 6 consecutive days of a lower daily midpoint
▪ At least a -5% intraday drop
▪ And then a +1.75% day
▪ For only the 3rd time ever
Enjoy.
The 2026 AI bubble is different from the 2000 Dot-com bubble in one simple way. Unlike 25 years ago, this time the companies utilized private credit to fund the bubble instead of public markets.
While the sudden IPO surge of 1999 triggered a near vertical move in markets, that vertical move this time was fueled with debt instead of stocks.
The 2026 IPOs are not designed to fuel the bubble, they're designed to provide the liquidity necessary so the wealthy, early investors can get out.
To summarize, while the 1999 IPOs marked the beginning of the vertical move in markets, the 2026 IPOs will market its end.
Remember when Elon Musk told investors that Twitter would 5x its revenue to $28 billion by 2028 and more than 4x its users to nearly 1 billion? Well, that's no where near happening.
Instead he's made even loftier predictions for a much larger company that will go public tomm. We took a look at the skeptics' views of the SpaceX IPO.
The most important indicator for the health of the real economy is how wage growth compares to inflation.
For the first time since 2023 we're seeing prices in the US rise faster than wages, a decline in prosperity for the American worker.
Yeah - sure guys - Elon is totally going to load up his $20,000,000 dollar untested AI space satellite onto his Starship rocket that blows up 41.7% of the time. Instead of just building it on the ground for 1/10th the cost and zero risk.
Go give him your entire life savings.
SpaceX will IPO tomorrow
Here's the bull case:
Target valuation is $1.75 trillion
But that's just on Earth
There are 8 planets in our solar system
That's $14 trillion in potential value
But when you factor in the other 100 billion planets in our galaxy?
$1.4 septillion.
Woah.