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SpaceX IPO: Markets, Morals, and What It Means for You

Explore episode Jun 12, 2026

Where this was said

Government Entanglement, Michael Dell, and the New Rules of Capitalism

At 15:16 · chapter starts 13:55

The conversation deepens into the structural question: even if a Democrat wins the White House in 2028, can SpaceX's government entanglement actually be undone? Stephanie Ruhle's tick analogy makes the case it cannot — once government contracts are this deep, they don't extract cleanly. She then offers the Michael Dell playbook as a proof of concept: Dell donated $6 billion to Trump's accounts, Trump publicly talked up the stock, the stock rose, and Dell received a $9.5 billion government contract. Ruhle bets her bottom dollar that contract won't be touched even if Democrats take control. The political implication: Democrats need to stop talking about Epstein and start hammering affordability and accountability in the midterms. Kara notes that Musk's brand has taken real hits — Wisconsin, Tesla sales — but Ruhle counters that once you're embedded in government contracts, brand damage is mostly irrelevant. He's in.

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