The $800 Billion Catch Behind Anthropic's IPO Ed Elson (@edels0n) is joined by Paul Kedrosky to unpack Anthropic’s S-1, including the red flags in the filing and what investors might be overlooking. Then, Robert Armstrong returns to break down why he thinks winter is coming for the stock market and what could trigger a correction. 🔗's 1/2: Youtube: youtube.com/@ProfGMarkets –

Scott Galloway (@profgalloway) tells Ed Elson (@edels0n) why he isn't buying the narrative that AI is heading for a dot-com style crash. "The narrative right now is that the capex in AI is way out over its skis and there's no way they can get an ROI there and we're going to see a '99 or a 2000 like implosion." This is from yesterday's episode: 'The $3.5T Bailout: Elon's Plan To Merge Tesla And SpaceX'. xitter.cf/a/status/2114689…

Breaking down Anthropic's S-1 with @pkedrosky and @rbrtrmstrng 👇

Paul Kedrosky (@pkedrosky) is a Managing Partner at SK Ventures. Robert Armstrong (@rbrtrmstrng) is the US financial commentator for the Financial Times, and author of the Unhedged newsletter. 🔗's 2/2: Apple: links.profgmedia.com/48IKZvK Spotify: links.profgmedia.com/4tiKqjI –

Scott Galloway (@profgalloway) tells Ed Elson (@edels0n) why he calls Elon Musk a traitor to the West. "That is what Elon Musk has done. He is a traitor to the West. A traitor." This is from today's episode: 'The $3.5T Bailout: Elon's Plan To Merge Tesla And SpaceX'. xitter.cf/a/status/2114689…

Scott Galloway (@profgalloway) tells Ed Elson (@edels0n) why Elon Musk is so good at selling the next big promise, and where that can end up. "He has done that like no one in history... There's a pretty thin line between being a visionary and committing outright fraud." This is from today's episode: 'The $3.5T Bailout: Elon's Plan To Merge Tesla And SpaceX'. xitter.cf/a/status/2114689…

Scott Galloway (@profgalloway) tells Ed Elson (@edels0n) why Big Tech's AI spending reminds him of a $3.99 all-you-can-eat buffet. "I was scared to stop eating... I feel like that's basically Big Tech and capex. I feel as if they're afraid to stop spending." This is from today's episode: 'The $3.5T Bailout: Elon's Plan To Merge Tesla And SpaceX'. xitter.cf/a/status/2114689…

Anthropic’s S-1 key takeaways: Revenue of $16.3 billion in the first half of 2026, against a net loss of $80.7 billion No dividend expected “in the foreseeable future” Up to $120.5 billion in planned compute spending with SpaceXAI and Nvidia Up to $114.5 billion committed to Google through 2033 Warns its revenue growth “may not be sustainable” and “may decrease” Says it may need to raise more money “sooner than expected” 5% of its shares are set aside for the “Anthropic Public Benefit Fund” Flags AI’s “catastrophic existential risks to humanity”

Ed Elson (@edels0n) asks Owen Zidar (@omzidar) to what extent the everywhere millionaire is controlling our politics. "When you talk to staffers, like who plays golf with the senator, who can raise money for people in the district. There's an everywhere millionaire in every congressional district." This is from today's episode: 'Meet The Millionaire Class That Really Runs America'. xitter.cf/a/status/2113587…

Owen Zidar (@omzidar) on the real blueprint for getting wealthy in America, and why it isn't building an app. "It's better to own rather than earn. It's pretty hard to get really rich getting a W-2. Second thing, many young people have this sense that you can create an app or get rich really quickly. But when you look at the stories that we tell in the book, that's not the model." This is from today's episode: 'Meet The Millionaire Class That Really Runs America'. xitter.cf/a/status/2113587…

Owen Zidar (@omzidar) on the "everywhere millionaires": ordinary Americans quietly getting rich from running private businesses. "Everywhere millionaires are ordinary Americans who've gotten extraordinarily wealthy from running private businesses. There are over three million of them who have at least $5 million in net worth. Their average wealth is $25 million." This is from today's episode: 'Meet The Millionaire Class That Really Runs America'. xitter.cf/a/status/2113587…

Ed Elson (@edels0n) and Karim Bousta on why Elon Musk might merge Tesla with SpaceX. "I wonder if this is his way to change the way that investors see this thing and stop focusing on the fact that the business is struggling, at least on the automotive side." This is from yesterday's episode: 'Why Elon Might Merge Tesla And SpaceX'. xitter.cf/a/status/2113232…

Zuck:

Ed Elson (@edels0n) asks Karim Bousta whether a flying Roadster is what Tesla really needs, and Karim explains why robotaxis come down to trust. "You need to build the trust from regulators and from the public. If you don't have trust, you don't have a business." This is from today's episode: 'Why Elon Might Merge Tesla And SpaceX'. xitter.cf/a/status/2113232…