Crypto off 50% from high
Galloway believes crypto is approximately 50% off its high and will come under further stress as AI IPO enthusiasm draws capital away.
Snapshot · The Prof G Pod with Scott Galloway
What SpaceX's IPO Means for Tech Stocks, and Coping With Panic Attacks
Explore episode
Jul 13, 2026
Where this was said
OpenAI's IPO Delay: Calling Out the Cover Story
At 5:40 · chapter starts 4:30
The New York Times reported on June 25th that OpenAI is considering delaying its IPO until 2027, citing market volatility and SpaceX's post-IPO decline. Galloway rejects this explanation entirely [1] — Scott Galloway "The New York Times reported OpenAI may delay its IPO until 2027 due to market volatility. Galloway says that's a lie. The real story is Ope…" 04:17 . His alternative reading: OpenAI's growth is decelerating rapidly, and its numbers cannot support the scale of capital expenditure commitments it has made. When the CFO and bankers looked at the disclosure requirements an IPO demands, they concluded the company needed to 'get its house in order' first. Galloway predicts a significant cost-cutting initiative over the coming six months as OpenAI preps for an eventual listing. He describes the company bluntly as a 'drunk spender,' and frames the IPO delay not as strategic patience but as an emergency cleanup before the public gets to see the books. The Wall Street Journal, by contrast, reports Anthropic could go public as early as fall 2026 — setting up a race where the challenger may actually move first.
Crypto Will Get Hit Hardest by AI IPO Wave
Forget NVIDIA and Meta taking the hit from large AI IPOs. Galloway says the real pressure will come on crypto — already 50% off its highs — because the Musk-adjacent, innovation-chasing crowd will rotate out of digital assets and into SpaceX, OpenAI, and Anthropic.
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