Elon Musk can’t hear you over the sound of his $1.75 trillion IPO

Elon Musk can’t hear you over the sound of his $1.75 trillion IPO
Listen on Apple Podcasts Listen on Spotify The SpaceX S-1 is finally here, and the story it tells goes way further than rockets.

<a href="https://podcasts.apple.com/us/podcast/equity/id1215439780" target="_blank" rel="noopener noreferrer nofollow" class="podcast-badge podcast-badge--apple"> Listen on Apple Podcasts </a>
<a href="https://open.spotify.com/show/5IEYLip3eDppcOmy5DmphC?si=rZDFHv2sQUul_g94iCRgpQ&amp;nd=1&amp;dlsi=467965469f3e484e" target="_blank" rel="noopener noreferrer nofollow" class="podcast-badge podcast-badge--spotify"> Listen on Spotify </a>
<p id="speakable-summary" class="has-text-align-left wp-block-paragraph"><a href="https://techcrunch.com/2026/05/20/the-spacex-ipo-filing-ai-bets-starship-dreams-elon-musk/" target="_blank" rel="noreferrer noopener">The SpaceX S-1 is finally here</a>, and the story it tells goes way further than rockets. The filing runs to 36 pages of risk factors alone, and the numbers inside match the ambition: a $28 trillion total addressable market, a pay package tied to establishing a Mars colony, and a valuation target that would make it the largest IPO in American history. </p>
<p class="wp-block-paragraph">On this episode of TechCrunch’s<a href="https://techcrunch.com/podcasts/equity/" target="_blank" rel="noreferrer noopener"> Equity</a> podcast, Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what the filing actually says, what it leaves out, and whether any of this math connects to reality. </p>
<p class="wp-block-paragraph">Listen to the full episode to hear about: </p>
<ul class="wp-block-list">
<li class="wp-block-list-item">Why NanoCo <a href="https://techcrunch.com/2026/05/20/nanoclaw-creator-turns-down-20m-buyout-offer-raises-12m-seed-instead/" target="_blank" rel="noreferrer noopener">turned down a $20 million buyout</a> to raise a $12 million seed instead </li>
</ul>
<ul class="wp-block-list">
<li class="wp-block-list-item">Anthropic’s <a href="https://techcrunch.com/2026/05/18/anthropic-has-acquired-the-dev-tools-startup-used-by-openai-google-and-cloudflare/" target="_blank" rel="noreferrer noopener">acquisition of SDK startup Stainless</a>, and why taking a tool off the table matters as much as the $300 million price tag </li>
</ul>
<ul class="wp-block-list">
<li class="wp-block-list-item">What happened when commencement speakers started talking up AI in front of graduating classes, and <a href="https://techcrunch.com/2026/05/17/if-youre-giving-a-commencement-speech-in-2026-maybe-dont-mention-ai/" target="_blank" rel="noreferrer noopener">why the students weren’t having it</a> </li>
</ul>
<ul class="wp-block-list">
<li class="wp-block-list-item">Google’s I/O announcements claiming <a href="https://techcrunch.com/2026/05/19/google-search-as-you-know-it-is-over/" target="_blank" rel="noreferrer noopener">search as you know it is over</a>, and what the AI makeover could mean for the open web </li>
</ul>
<p class="has-text-align-left wp-block-paragraph">Subscribe to Equity on <a href="https://www.youtube.com/@TechCrunch" target="_blank" rel="noreferrer noopener nofollow">YouTube</a>,<a href="https://itunes.apple.com/us/podcast/id1215439780" target="_blank" rel="noreferrer noopener nofollow"> Apple Podcasts</a>,<a href="https://overcast.fm/itunes1215439780/equity" target="_blank" rel="noreferrer noopener nofollow"> Overcast</a>,<a href="https://open.spotify.com/show/5IEYLip3eDppcOmy5DmphC?si=rZDFHv2sQUul_g94iCRgpQ" target="_blank" rel="noreferrer noopener nofollow"> Spotify</a> and all the casts. You also can follow Equity on<a href="https://twitter.com/EquityPod" target="_blank" rel="noreferrer noopener nofollow"> X</a> and<a href="https://www.threads.net/@equitypod" target="_blank" rel="noreferrer noopener nofollow"> Threads</a>, at @EquityPod. </p>