Larry McDonald

speaker

66 appearances 1 recordings 1 series first heard Jun 2026 last heard 9 Jun

Larry McDonald’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Master Investor Podcast with Wilfred Frost · Should You Buy Space X? | IPO Special · 9 Jun 2026 podcast

Well, when you get an IPO this size, the bankers always remember, always, always remember about the Wall Street silos.

And so the bankers that are doing the deal, they really have to kiss the ring in this period before the IPO.

They have to come up with the most Pollyannish possible assumptions to appease the king, which is Elon.

And obviously, they've got the business.

So the conflicts of interest are just off the charts.

Right, and you're talking about a valuation of $30 billion in 2019.

$30 billion, 2019, to now $1.8 trillion.

You're talking about 6% of the United States GDP

Facebook came public, which was the hottest IPO of that decade from 2010 to 2020, at less than 1% of GEP.

You keep companies private for so long, by the time they come public, they're massively matured, and it's very difficult for passive investors.

We talk about this in our book.

the dark side, the dark side of passive investing.

In other words, we're destroying the S&P 500 and the NASDAQ because over time, what we're doing is we're putting companies in later and later and later at higher and higher valuations.

And investors are going to pay the price over the next 10 years, unfortunately.

Right.

And the funny thing is for Google to front run them with that 80 billion plus a mandatory convert, I never thought I'd ever see, ever.

Google issue a mandatory convertible, which is a classic warning sign because it's a very aggressive way to raise capital by dumping all that stock.

And so they're already being front-run.

I think there's a decent chance Meta tries to front-run them.

But remember one thing.

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