by Brian Shilhavy
News about health
With new IPOs emerging for Musk’s SpaceX and Sam Altman’s OpenAI, Wall Street, increasingly less tech-savvy and investing only in wonder, is taking the next step in America’s bankruptcy.
Haven’t people learned from Elon Musk’s constant lies over the past two decades?
Where are his fully autonomous driverless taxis? Where are the $35,000 humanoid robots he promised would now be in everyone’s homes?
This is all BS! But people are afraid of being left there, they feed it.
Now the biggest IPO in the country’s history is happening next week for SpaceX.
Is SpaceX cashing in on record sales? No. It really loses money.
So why do Wall Street groups invest?
Because Musk promised them there would be floating data centers in space to power the deployment of AI. in the future.
Anyone and everyone who invests in Musk continues to invest in a version of science fiction. that will never happen.
And since Musk is also behind the rollback of regulations to protect America’s retirement accounts from such risky investments, over the next few weeks the majority of Americans’ retirement accounts may end up in the hands of these Big Tech IPOs, whether they like it or not.
They say Rome didn’t fall in a day, but America could.
From Information:
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Elon Musk and Sam Altman don’t often see eye to eye, as they made clear in their recent legal battle. But when it comes to outlandish predictions about future development, the two men seem to share a common philosophy.
As we reported earlier on Thursday, SpaceX’s lead bank in its upcoming IPO, Goldman Sachs, told investors that it expects SpaceX’s revenue to reach $474 billion by 2030, up from $18.7 billion last year.
That’s even more ambitious than the OpenAI forecast we reported in February, which saw its revenue grow to $284 billion by 2030 from $13 billion in 2025.
Both companies also expect to burn a significant amount of cash per cycle, although SpaceX has the edge over OpenAI on that count as well.
None of these predictions are, of course, convincing. Of course, OpenAI could become a major player in digital advertising — a key part of its growth story — but it has offered little to support its long-term predictions. SpaceX’s predictions are no better.
Our story today, by my colleague Corey Weinberg, says that two-thirds of projected revenue in 2030 will come from AI, which means SpaceX thinks it will be bigger than OpenAI by then.
And yet for now, SpaceX’s AI unit is nowhere to be found. Its revenue last year was $3.2 billion more than ads generated by X, the business formerly known as Twitter, which doesn’t count as AI (the discourse on X might be better described as lacking intelligence, artificial or otherwise).
OpenAI, of all its experiments, has the least real AI revenue of $5.7 billion in the first quarter. Furthermore, constant staff turnover has left xAI upside down, and the state of its model development is unclear. Musk has leased much of its computing infrastructure to competitors such as Anthropic.
We understand that the reliability of these predictions is not important to Musk’s fans, who are likely to support SpaceX’s IPO, which is expected to hit the market next week.
But it should be noted Musk’s unfortunate history of meeting predictions.
For example, in 2022, he told investors that he expects Twitter’s revenue to reach $26.4 billion in 2028, up from $5 billion in 2021. New York Times account.
How is he doing?
X advertising business reduced by half. (SpaceX’s IPO prospectus projects AI segment revenue of $2.6 billion in 2024, “virtually all” from X.)
Musk merged X into xAI, and the AI unit also earns revenue from selling subscriptions to its Grok AI chatbot and renting out its computing power.
Those X numbers don’t matter anymore, though they are a reminder of the value of long-term income projections.
Elon Musk’s $1.75 trillion valuation of SpaceX leaves almost zero room for error
From MarketWatch:
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Want to buy SpaceX stock? History shows that it will struggle to reward IPO investors.
SpaceX’s high market value — $1.75 trillion at a proposed price of $135 per share — makes it unlikely that its stock will even be on par with the S&P 500 in the coming years.
Here’s why: Consider a company’s price-to-sales ratio (PSR) at its asking price. This ratio is very useful when evaluating an IPO. Other valuation ratios aren’t particularly insightful because many IPOs hit the market before booking earnings.
At the $135 per share price that SpaceX is targeting for its IPO, its PSR would be more than 90 to 1 — one of the highest in US market history. Even IPOs that came to market with half as high PSRs underperformed the market within three years of going public.
This is shown in the chart above, which includes data from Jay Ritter, a finance professor at the University of Florida who has compiled the main academic database of US IPOs. There is a strong inverse correlation between an IPO’s PSR and its subsequent three-year returns. Those with a PSR above 40 when they entered the market lagged the market by 58.5% in the three years after entering the market. (A full review of Ritter’s calculations is available here.)
To put SpaceX’s PSR, consider that the comparable S&P 500 ratio is 3.7. Of course, fast-growing stocks tend to trade at higher PSRs, so the S&P 500 may not be the most appropriate comparison. But even the growth-oriented Nasdaq 100 has a current PSR of just 6.1, and none of the constituent stocks in this index have the high PSR that SpaceX would have at its initial offering price..
Good story – but maybe not a good stock
Considering these numbers, it can be said that SpaceX’s IPO is not being sold as a valuation play.
SpaceX and Anthropic are about to go public — and your 401(k) might have to
From Fortune:
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Two of the most valuable companies in history have gone public, and because of their size, they could dramatically change what’s inside the retirement accounts of millions of Americans.
With the IPO, SpaceX also created index providers to change the rules of how they are included in the main indices of the stock market (such as the Nasdaq or the S&P 500), You may feel the impact of an IPO sooner than otherwise.
Index funds tend to be the backbone of most 401(k)s, and since they’re required to buy whatever’s in the index, a rule change could be the mechanism that forces a new IPO, like SpaceX and eventually Anthropic.
But just because SpaceX and Anthropic are so big in their debuts (SpaceX expects $1.77 trillion as of Wednesday, and Anthropic expects nearly $1 trillion), index providers can’t necessarily leave them out.
That way, they’ve shortened or even eliminated the seasonality period, meaning their 401(k) will reflect their presence in the stock market much sooner..
Wasted AI budgets at Uber, Microsoft and Nvidia lead to hiring – because human workers are cheaper
From MarketWatch:
Uber has lost its entire 2026 AI budget by April. This is why replacing workers with bots has backfired.
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Company leaders are realizing that replacing employees with artificial intelligence is more expensive than previously believed. This is good news for the US labor market.
What is the reason for this about the face? Blame the labels. When an employee asks the AI for help, the request consumes digital tokens, which are LLM’s currency and the cost of doing business.
Workers at tech companies in particular have been encouraged to increase their token consumption, known as “tokenmaxxing” – by employers combining AI tools with productivity. It has become somewhat of a status symbol among employees to show that you are achieving key performance indicators.
But tokenmaxxing is expensive. For text queries, the math is simple, with 750 words worth 1000 tokens. But producing videos, images, code, etc. can be much more expensive – and only calculated after the task is done.
These costs have caught employers off guard, especially with the growing use of AI agents that target tokens. As a result, employers are frequently reviewing their AI budgets, putting them in a situation where it is no longer clear that using AI is cheaper than hiring people.
For example, the head of operations of Uber Technologies recently expressed concern about the value of tokenmaxxing, especially since as of April, the travel company has already lost its entire 2026 AI budget. Microsoft revoked its Claude Code licenses and asked employees to use its GitHub Copilot CLI – and many speculated that high costs drove the decision.
A team at Nvidia has been reporting for months that AI costs more than humans. Amazon.com has lost its in-house AI lead. According to Axios, one company even accidentally spent $500 million a month on Claude.
The widespread reluctance shows that companies are reluctant to return on investment in AI.
Big tech companies have spent billions building AI infrastructure over the past few years hoping for the future.
Businesses have adopted AI into their workflows to gain a better edge against competitors.
Although Big Tech stocks are still flying high, some companies are realizing that they cannot sustain this level of spending on tokens.
This article was written by Human Superior Intelligence (HSI).
See also:
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Published on June 4, 2026
