Spice World

Slate Money dives into the explosive growth of private equity in AI, spotlighting OpenAI's record-breaking $122 billion fundraising round and the looming public market entries of OpenAI, Anthropic, and SpaceX—each targeting valuations in the trillions. The hosts debate whether the private markets have become deeper than public ones, but conclude that these companies still need public markets for liquidity and massive capital. They explore the implications of such enormous valuations on stock index concentration, the risk of overvaluation without earnings, and the role of index funds in driving IPO demand. The conversation shifts to real-world business deals, focusing on McCormick’s $45 billion acquisition of Unilever’s food division—framed as a 'minnow eating a whale'—and the backlash from European shareholders who fear being diluted into a Maryland-based spice company. The episode also celebrates the WNBA’s historic 400% pay raise, negotiated by Nobel laureate Claudia Golden, and explores the broader cultural and economic dynamics of women’s sports, sports team valuations as luxury investments, and the growing influence of women’s athletic excellence. Finally, the hosts share quirky 'by the numbers' segments on a $90 knitting kit for Ryan Gosling’s sweater, a $6 Icelandic hot dog, and a $600 KitchenAid stand mixer with a built-in LED light.