Ed Elson

Joining us to discuss Meta and the broader issue

equity supplier.

We are speaking with John Foley, head of the Lex column at the Financial Times.

John, thank you for joining me on Profiteer Markets.

Just a slew of headlines, all kind of related, which is that all of these tech companies are about to raise a ton of money.

Google, of course,

just did their equity offering, $85 billion.

That is ongoing right now.

But then we learned from the Financial Times that Meta is going to do the same thing.

And then I'm also hearing online that maybe Amazon's going to do an equity offering.

Maybe Microsoft's going to do an equity offering.

Everyone's going out and raising a ton of money.

I guess the big question is, what does this actually mean for markets?

And what does this mean for investors?

If the idea is to sell your stock now, which is what they're all doing, they're all deciding that the time to sell is now...

You can see that as a good thing, or you can see that as a bad thing, and that is they might believe that this is the top, that this is the moment when investors are most exuberant.

You said that spirits are boisterous in your recent column.

I mean, is this...

a signal that we're kind of at the top, or at least the animal spirits are running dangerously too high?

It's a really interesting point that, you know, Google might be seeing that anthropic is about to go public, open AI is about to go public.