Hello there.
Happy Friday, folks. If you know a guy trying to land a junior banker role right now, pour one out for him this weekend.
In this issue:
🚀 The Makings of a Mega-Company
⚡️ Did You Catch That X-Fab Rally?
🪦 RIP Banker Bros
🤖 Robbing the Rich to Give to the Robots
🎙️ Robinhood’s AI Wallets & The End of Human Influence
Frankly, they should’ve seen it coming. Everyone knows the only sector with job security these days is nepo baby.
A little-known NASDAQ company quietly operating at the center of Hong Kong’s booming capital markets is starting to land on investors’ radars.
As IPO activity, regulatory filings, and public company compliance demand continue to accelerate, this under-the-radar player is carving out a strategic position in a high-value financial services niche with recurring revenue potential.
With growth accelerating, a strong balance sheet, and Wall Street still largely overlooking the story, some investors believe this emerging small-cap could be entering a major breakout phase.
Click Here to Reveal the Ticker
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🚀 Ground Control to Major Musk
SpaceX is about to go public on the stock market, and the rumors are absolutely flying that Elon Musk wants to eventually merge it with Tesla. Rocketships and electric cars, under one roof. According to people close to Musk, he's been chatting with his inner circle about folding these two trillion-dollar babies together, and apparently, Tesla employees have been expecting this for a while now.
The logic is that both companies are absolutely obsessed with AI right now. Tesla needs insane computing power for its self-driving cars. SpaceX needs it for, well, space stuff and its Starlink satellite internet. They already share engineers, buy batteries from each other, and even swap GPUs when Elon asks nicely. SpaceX dropped $131 million on Cybertrucks last year alone. The two companies are basically already dating, they just haven't made it official yet.
Meanwhile, a rocket from Jeff Bezos’s SpaceX competitor Blue Origin just exploded during a test (below). Two things: rockets exploding in tests is very common with companies like these, and SpaceX had its share of explosions too. But also, the fact that Bezos’s rocket exploded shows how large the gap may be between his company and SpaceX still.
But anyway, SpaceX is expected to start trading in about two weeks with a valuation of around $1.75-2 trillion. Tesla's sitting at roughly $1.4 trillion. Combined, that's a company worth more than most countries' entire economies. The new FTSE Russell rules mean SpaceX could get added to major indexes super fast after going public, which means index funds would basically have to buy it whether they want to or not. Tesla stock already jumped 6% just on the merger rumors. If you're holding Tesla, this is worth watching very closely.
🎤 What do you think?
From last week’s issue:
Answer: Apple
⚡️ The Tech Ticker
A popular X account sparked a massive rally in little-known chipmaker X-Fab after a viral post sent retail investors piling in.
Slate Auto will start taking orders for its low-cost EV on June 24 as the Bezos-backed startup finally moves from hype to actual sales.
Airbnb-backed WeRoad raises $58 million to take its group travel platform to the US, betting that Gen Z and Millennials want more real-life connections.
American Airlines picks Starlink for more than 500 aircraft, bringing satellite internet to narrow-body planes so passengers can scroll uninterrupted.
A Google engineer was charged with making $1.2 million on Polymarket after prosecutors alleged he used confidential search data to place winning bets.
🪦 Fortune Favors the Bots
JPMorgan just became the first big bank to roll out AI tools across its entire investment banking operation worldwide. And the CEO, Jamie Dimon, said the thing: they're going to hire "more AI people and fewer bankers" going forward. Standard Chartered is cutting nearly 8,000 jobs by 2030 for the same reason. Real Skynet vibes.
But what does this actually mean? Picture a first-year banker who used to spend hours making PowerPoint slides look pretty and digging through boring financial documents. Now, JPMorgan's AI can pump out a full investment pitch deck in about 30 seconds. Work that used to need three junior analysts can now be handled by one person babysitting the AI. Microsoft says these tools cut the time to create initial presentations from four hours to under 60 minutes.
About 250,000 JPMorgan employees now have access to these AI tools. Goldman Sachs has its own AI assistant for over 10,000 workers. Morgan Stanley built something called AskResearchGPT that can search through 70,000 research reports instantly. And here's the kicker: a recent Citigroup report found that 54% of financial jobs have "high potential for automation." That's more than any other industry.
More than a boo-hoo for the junior banker in your life, this is actually pretty relevant. Banks making more money per employee could mean better earnings. The question everyone's asking is whether removing all that grunt work means the next generation of senior bankers won't have learned the basics they need to actually be good at the job. But c’mon, what’s more American than kicking your existential crisis to the next generation?
🤖 All Eyes on AI
Robinhood is opening its platform to AI agents for trading and credit card purchases, meaning software bots could soon execute trades on your behalf.
Anthropic raised $65 billion at a $965 billion valuation in what could be its final private round before an IPO.
New AI models like Mythos are making some customers uneasy because the tech is reportedly so powerful that it could be misused for cyberattacks.
Meta will begin testing AI subscription plans starting at $7.99 a month as it looks to make money from AI tools beyond ads.
Bankers are increasingly relying on Anthropic’s Claude for finance work, and racking up huge usage fees in the process.
🤡 Meme of the Week
🎙️ Robinhood’s AI Wallets & The End of Human Influence
In this episode of The Best One Yet, the hosts unpack a week where AI agents start managing your money, startups turn product launches into internet scavenger hunts, and the Pope enters the AI economy debate with a direct challenge to GDP itself.
📻 Tune in to:
Break down Robinhood’s new AI-powered trading and shopping agents, where users can unleash bots to spend money autonomously within preset limits.
Explore the coming “AI leash” dilemma as consumers hand more financial decision-making over to personal agents.
Examine Pope Leo XIV’s first major economic warning on AI, where the first American pope argues that GDP no longer measures human flourishing.
🎧 Listen on:
⭐️ What did you think of today's edition?
That’s all for today. Write us and let us know your thoughts on the market, the newsletter, or the weather—we’d just love to hear from you.
Till next time,
— Brandon and Blake
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