S8 Ep987: Liz Peek discusses SpaceX's $1.78 trillion IPO, questioning whether valuations for AI companies like OpenAI and Anthropic are sustainable. She notes that Starlink's profitability supports Elon Musk's moonshots. Despite inflation concerns, strong domestic

The John Batchelor Show dives into the unprecedented prospect of trillion-dollar IPOs, led by SpaceX's $1.78 trillion valuation, with guest Liz Peek questioning whether such astronomical valuations for AI firms like OpenAI and Anthropic are sustainable. Peek argues that while SpaceX's Starlink service is already profitable and underpins Musk’s broader ambitions, the rest of the company’s moonshot ventures—space-based data centers, reusable Starship rockets, and AI integration—remain speculative and hinge on unproven assumptions. She warns investors are pricing in best-case scenarios across multiple futuristic technologies, creating a 'fog of investment' where real financials are still hidden. Despite inflation concerns and a looming CPI reading expected to hit 4%, the U.S. economy continues to thrive on robust domestic private investment, fueled by low regulation, energy abundance, and corporate reshoring driven by tariffs and tax incentives. The stock market’s rally has boosted wealth effects, particularly among the top income deciles, further fueling spending. Yet, Peek cautions that the market’s enthusiasm may be overextending, especially when the underlying business models for many of these ventures remain unproven and highly speculative.