Where this was said
Cold Open: The IPO Headlines Everyone Is Talking About
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The episode opens with a barrage of news audio announcing SpaceX's record debut, with anchors breathlessly noting a $2 trillion-plus valuation 'with a T.' Spencer Jakab, The Wall Street Journal's investing columnist, immediately anchors the scale: SpaceX's single offering exceeds the combined total of every IPO that happened during the year 2000, the peak of the dot-com frenzy [1] — Spencer Jakab "SpaceX's IPO alone raised more than every single IPO that happened during the dot-com peak of 2000. Add Anthropic and OpenAI — both targeti…" 01:01 . Anthropic and OpenAI are both lined up to follow, targeting valuations around $1 trillion or more. The scene-setting is deliberate — host Jessica Mendoza is priming listeners to understand not just the numbers but the historical gravity of what is unfolding on Wall Street.
SpaceX's single IPO raised more money than all IPOs combined during the year 2000, the height of the dot-com boom.
SpaceX's IPO alone raised more than every single IPO that happened during the dot-com peak of 2000. Add Anthropic and OpenAI — both targeting trillion-dollar-plus valuations — and 2026 is unquestionably the biggest IPO year ever recorded.
OpenAI and Anthropic aren't going public because they've cracked profitability. They're going public because the excitement window is open right now, and waiting risks that window closing. You raise the most money when people are willing to pay the most.
