SpaceX Fever, Bitcoin's Bad Week and How to Get the UK Investing
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We don't just invest in cutting edge companies. We look at companies with a history of steady growth. And companies whose growth cycle has come round again. Because in the real world, you have to look at growth in three dimensions. Monk's Investment Trust.
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Hey, it's Alec Baldwin. This season on my podcast, Here's the Thing, I talk to composer Mark Shaman. It's about the hang. It's the pleasure of hanging out with the people that you're with. You know, Rob and I was always a great hang. And director Morgan Neville. Film school teaches you all the wrong things about making documentary. What do you want to say? Documentary is all about your ear. What do you hear? I feel like my job is listening really, really hard. Listen to Here's the Thing on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Bloomberg Audio Studios. Podcasts. Radio. News.
Welcome to the Merrin Talks Money Market Wrap, where we talk about the biggest moves in markets this week and what's driving them. I'm John Stebbick, senior reporter and author of the Moneyed Stilled newsletter, in for Merrin this week because she's away this week. Joining me in studio is Sam Unstead, who is the editor of the Markets Today blog, which you should all be following religiously. You can access it from the Bloomberg homepage or also from our new Bloomberg Money page, which launched this week. Sam, thank you once again for joining us. Thanks for having me. Oh, there are so many things that we could talk about, but I think we will start off with SpaceX.
Yeah. Yeah, I think that's right.
So we got a price now, haven't we? Well, I know what they want to raise, what they hope they'll get.
We know what they want to raise, which is $75 billion. Yeah. So the biggest IPO ever. Yeah. there there is so much writing going on about spacex right now because this is an it is an enormous story it's an it's sort of a both incredible and incredibly weird company you know they they do uh chat bots they do rockets they do satellites they want to put data centers um yeah effectively yeah yeah um they want to have data centers orbiting the earth and I mean, building a data centre on Earth is quite hard, so then getting it up into space is going to be difficult too. But enormous potential addressable market, all these kind of huge numbers being thrown around. Also, though, a huge amount of it is going to retail investors being offered, potentially up to a third of it to retail investors.
That is an enormous amount of money, getting on for nearly, what, close to $25 billion going to retail investors. Yeah. So it's going to be a huge test of the momentum in markets.
Because one of the things that everyone's been talking about, and I think makes an awful lot of sense, and Matt Levine obviously for Bloomberg is very good on this sort of thing, is the, I guess, the amount of artificial potential demand for these shares. Because I'm right in saying that the big indices, a lot of them, not all of them, but the big indices have largely been relaxing the entry rules for IPOs of the same size as SpaceX. So gargantuan IPOs and things like Anthropic that are coming down the pipe will basically be able to go into big indices almost straight away or within a few weeks or even a few days of trading.
Yeah, well, it may actually be a bit more complicated than that once we get around to it, because we are talking about an enormous amount of extra capital going into the market. And so, you know, the S&P or the Nasdaq 100, you know, in the US may have to sort of really rethink the whole way that it's weighted, not just because of SpaceX, but you just mentioned OpenAI, Anthropic. Between those three companies, you're talking $3.5, $4 trillion worth of company.
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