Hello there.
Friday again, baby. SpaceX is setting aside 5% of its IPO shares for those on the inside. Time to start digging into your family tree.
In this issue:
🚀 “Friends & Family.” Does That Include X Followers?
⚡️ Broadcom Shortstrokes Earnings
💵 A Lawyer, a Banker, and an AI-Chatbot Maker
🤖 Masayoshi Son Has Spoken: This is Bigger Than Dot-Com
🎙️ AI’s Trust Crisis & The Next Tech Power Struggles
What is it they say? There’s a max of 7 degrees of separation between any two people? Considering Elon’s got 14 kids, chances aren’t zero that you could find a way in. Just sayin’.
Today’s sponsor:
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VWAV is building a multi-domain platform that combines RF sensing, artificial intelligence, autonomous systems, and advanced computing into one integrated architecture. Rather than focusing on a single niche, the company is aligning itself with the full ecosystem of next-generation defense technologies!
At the same time, NASDAQ small cap VWAV is taking steps to expand its real-world footprint. Its planned acquisition of a majority stake in an Israeli aerospace manufacturer tied to active missile defense systems, along with the launch of an Israeli subsidiary and global expansion efforts, signals a move toward deeper integration in defense supply chains.
With additional initiatives in energy and subsurface sensing, the company is positioning itself beyond traditional defense into broader intelligence markets. As nations scramble to counter drone swarms and missile threats, companies like VWAV are no longer optional—they're becoming mission-critical.
💵 You Need a Lawyer? I Know a Bot.
New AI arms race just dropped: who can help your finance team and your legal team do their jobs faster?
OpenAI just dropped a bunch of new tools for its Codex agent that go way beyond just helping people code. We're talking tools for stuff like banking, sales, and investment work. They're also adding features for legal and corporate finance soon, which is a pretty clear signal that ChatGPT wants to be in every office, not just developer workspaces.
Meanwhile, Anthropic has been moving fast and keeping pace. They already released 10 AI tools aimed at banks, insurers, and financial services companies back in May. They've also connected Claude to systems like DocuSign, LexisNexis, and other legal software that lawyers use every day.
The stakes are pretty high because these aren't just fun chatbots anymore. When AI starts touching your bank account data or drafting legal documents, one mistake can cost serious money. OpenAI is testing how much trust people will give ChatGPT with their personal financial info through a new feature that connects to bank accounts via Plaid. If that works out, the same logic could expand to accountants, wealth managers, and compliance teams.
The bigger picture is that AI isn't just about having the smartest chatbot anymore. It's about who can actually make AI useful for boring but important stuff like compliance checks, contract reviews, and financial analysis. The company that figures that out first is going to make a lot of money. And possibly replace a lot of expensive consultants.
🎤 What do you think?
Alibaba's 2014 IPO was the largest in U.S. history before SpaceX. How much did it raise in 2014?
From last week’s issue:
⚡️ The Tech Ticker
Broadcom's stock tanked 14% after earnings because the chip company didn't raise its AI revenue predictions for next year.
Uber is putting 500 sensor-packed cars on the road to collect driving data for its self-driving car partners like Waymo.
Carvana snagged a deal to invest in Slate Auto, the Jeff Bezos-backed EV startup. The used car company is apparently eyeing new car sales, too.
The App Store ecosystem hit $1.4 trillion in developer sales last year, and Apple says 90% of that money went to devs without any commission taken.
🚀 3rd Alibaba From the Sun
So of course, as you know, SpaceX just announced they're going public on June 12th at $135 per share. If you're wondering how big of a deal this is: it would make SpaceX worth about $1.77 trillion. That's more than Tesla. That's bigger than, like, almost everything.
For context, this IPO would be more than triple the size of Alibaba's, which is currently the biggest US IPO ever. SpaceX is trying to raise $75 billion by selling shares, and Musk will still control over 82% of the voting power after all of it. Classic Elon move.
What's interesting is that SpaceX didn't do the normal IPO thing where companies test different price ranges to see what people will pay. They just said "135 dollars, take it or leave it" after some private meetings with investors. Bold and on-brand.
Plus, if you’ll recall from last week, there's a lot of chatter that Musk might eventually merge SpaceX with Tesla. Tesla employees are apparently talking about it openly, and the two companies already share a bunch of resources and people. Tesla even owns almost $2.6 billion worth of SpaceX shares at the IPO price. The Musk Cinematic Universe keeps expanding.
🤖 All Eyes on AI
SoftBank's CEO says the AI boom is 50x bigger than the dot-com era. Masayoshi Son dropped this take after announcing an $87 billion investment to build data centers in France.
Google's parent company, Alphabet, is raising $80 billion, its first time selling new shares in 21 years. Most of it goes to AI stuff, surprised?
Goldman Sachs bankers are going all-in on AI data centers as financing for these massive projects keeps exploding.
Meta launched Creator Assistant, an AI tool that lives inside Facebook's creator dashboard and basically explains why your posts did well (or flopped).
🤡 Meme of the Week
🎙️ AI’s Trust Crisis & The Next Tech Power Struggles
In this episode of TWiT, the hosts unpack a week where AI’s influence spreads into nearly every corner of society, from religion and transportation to search engines, software platforms, and even national defense.
📻 Tune in to:
Break down the fallout from Pope Leo XIV’s first major AI-focused encyclical and why the Vatican is positioning itself as an important voice in the tech debate.
Explore the growing trust crisis around AI-generated information as users deliberately manipulate Google’s AI Overviews to expose weaknesses.
Unpack Apple’s latest attempt to regain footing in the AI race, including early details on a major Siri overhaul.
🎧 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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