Quote · God Mode Podcast
EP17: The SpaceX IPO Thesis Just Flipped + Anthropic Passed OpenAI (First Time IRL, w/ Reuben Ferrante)
Where this was said
The AI 'circle jerk': Google, Anthropic & SpaceX
At 12:47 · chapter starts 12:00
Ben names what no one else has said plainly: it's an AI circle jerk. Google has equity in Anthropic. Google has a deal with SpaceX. SpaceX provides compute to Anthropic. Anthropic pays SpaceX. The capital flows in a closed loop among players who generate so much revenue they barely need outside investors. [1] — Ben "There's this whole AI circle jerk that's happening, right? You have Google owning part of Anthropic, Google owning part of SpaceX. SpaceX g…" 12:17 Reuben sharpens the point: at this scale, he believes markets are 'broken' and 'purely based on emotion' — making it pointless to compare SpaceX's multiples to historical benchmarks. He notes that JP Morgan's Jamie Dimon was personally pitching the SpaceX IPO to specific investors, illustrating how deep the inner circle goes.
Google owns part of Anthropic and part of SpaceX. SpaceX provides compute to both. Anthropic pays SpaceX. The top AI players are funding each other in a self-reinforcing loop — raising the question of whether they even need outside capital anymore.
