Aman read all 308 pages of the SpaceX S-1 so you don't have to. This week we break down every major number, surprise, and buried Easter egg in the filing — plus the biggest IPO week in recent memory across the AI holy trinity.
SpaceX is pricing around June 12 and could open at a $2T+ valuation. We walk through all three business segments (Connectivity, Space, AI), the $28.5 trillion TAM claim, Elon's compensation plan that pays out $583B if he colonizes Mars, the unusual staggered lock-up structure, and the two breadcrumbs in the S-1 that suggest a SpaceX-Tesla merger could be coming.
We also cover Anthropic's monster quarter ($10.9B in Q2 revenue, profitable, raising at $900B), OpenAI rushing to beat them to IPO after winning the Musk lawsuit, NVIDIA's $81B print growing 85% YoY, Mercury's $200M Series D at $5.2B, the US government taking equity stakes in quantum companies, and Nasdaq Private Markets suing Hiive over secondary market plumbing.
A lot happened this week.
00:43 - [ tech news and vc ]
08:04 - Anthropic profitable, $900B looks cheap 🤯
13:38 - OpenAI rushes to IPO after courtroom win 🏃♂️➡️
17:53 - NVIDIA $82B print $80B buyback 💰🫲
22:20 - Mercury $200M Series D @ $5.2B 🏦
25:35 - US Govt = Quantum VC ⚛️
29:05 - NPM sues Hiive over 2ndry plumbing 🪠
30:58 - [ val corner: 308 page SpaceX S-1 ]
31:06 - SpaceX S-1 highlights 📸🔦
35:56 - $28T TAM includes Martians 🌎🌍🌏🌖✨
37:00 - 3 core biz units: Connectivity, Space, AI 3️⃣
47:05 - SpaceX-Tesla merger? 🤔
50:10 - board members revealed 👤
53:48 - unusual staggered lock-up period 🔐
1:01:00 - Dave sings a whole new Mars 🎶
[ links ]
[ invest = https://practicalvc.com ]
[ trading places socials = www.linktr.ee/tradingplacespod ]
[ aman verjee = https://www.linkedin.com/in/aman-verjee | https://x.com/amanverjee ]
[ dave mcclure = https://www.linkedin.com/in/davemcclure | https://x.com/davemcclure ]
Thank you for watching
#spacexs1 #spacexipo #spacex #secondaries #venturecapital
