SpaceX’s IPO Could Create Thousands of Millionaires & MSG Stock is Up on the Knicks

**Raymond Liu** (0:01)
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Good Morning Brew Daily Show. I'm Raymond Liu.

**Kyle Hegge** (0:31)
And I'm Kyle Hegge.

**Raymond Liu** (0:32)
Today, Bitcoin is down, down bad.

**Kyle Hegge** (0:35)
And get your popcorn ready because movie theaters are so back. It's Friday, June 5th. Let's ride.

**Raymond Liu** (0:47)
Good morning.

**SPEAKER_3** (0:48)
Yes, today is Friday.

**Raymond Liu** (0:50)
I'm joined by Kyle Hegge. Kyle, welcome back to MBD.

**Kyle Hegge** (0:53)
So pumped to be here, man.

**Raymond Liu** (0:54)
Yeah, we'd love to have you. Fun fact, Kyle and I actually live in the same building.

**Kyle Hegge** (0:59)
That is true. I think we have the most popular podcast in the building. I hope, unless...

**Raymond Liu** (1:04)
I'd like to think so.

**Kyle Hegge** (1:05)
I'm looking for Kylie Kelsey. If she moves in, we're in trouble.

**Raymond Liu** (1:07)
Alex Cooper just joined our building. Yeah. We actually took an Uber here, so it made our commute very convenient.

**Kyle Hegge** (1:13)
Yes, it was fun to have a commute, buddy. I'm either alone in an Uber or with 10,000 strangers in the subway, but today I got to ride in with you and do the podcast.

**Raymond Liu** (1:20)
So Kyle moved into my building about a year ago and you told me about it. And then that whole year, I never saw you.

**Kyle Hegge** (1:29)
Literally.

**Raymond Liu** (1:29)
I mean, granted, we kind of have different schedules.

**Kyle Hegge** (1:31)
Yeah, you're waking up at 4 a.m. every day.

**Raymond Liu** (1:32)
But I see people in my building constantly, kind of just see the same people. I never saw you for a full year. And then finally, I think we hung out finally. And then after that, I've been seeing you ever since.

**Kyle Hegge** (1:41)
I know. We're so back. It's good to see you.

**Raymond Liu** (1:44)
OK. And well, now a word from our sponsor, Sage. Kyle, do you ever find yourself putting something off until the end of the month?

**Kyle Hegge** (1:51)
Of course. Laundry, rent, showers.

**Raymond Liu** (1:54)
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**Kyle Hegge** (2:10)
Sage's approach is about having visibility into cash, expenses, and performance as it's happening. You can actually see problems and opportunities while you have the time to do something about them.

**Raymond Liu** (2:20)
That ethos is part of why a whopping total of six plus million businesses use Sage globally across 150 plus countries.

**Kyle Hegge** (2:28)
To learn more, head to sage.com/morningbrew. That's sage.com/morningbrew.

**Raymond Liu** (2:34)
In what might be the hypest hyped IPO of all time, Elon Musk's SpaceX is aiming for a record breaking debut when it plans to trade publicly on the NASDAQ on June 12th. The company plans to open with a 555 million shares at $135 a piece, according to a filing with the SCC. Now, if that price holds, SpaceX would have a market value of nearly $1.77 trillion.
The goal of raising $75 billion in the IPO would crush the previous record held by Saudi Aramco's $29.4 billion back in 2019
Now, in case you're wondering why SpaceX wants to go public, that's because it has big plans to expand its infrastructures in AI computing, satellite constellations, rockets, and maybe those ambitious plans of building data centers in space, all of which cost a lot of money. Now, it does bring in sweet cash flow through its satellite business Starlink, but being a public company does give it the option to tap the broader market for funds to raise money faster than any other major players like OpenAI and Anthropic, who are also hoping to go public themselves. But some analysts point out the pitfalls of going public. It will have to start reporting its financial performance every quarter and answer to Wall Street, which means any bad news that comes out could result in sharp declines. Kyle, because this potentially could be the biggest IPO of all time, everyone is doing what they can to hop on the gravy train. Want to go have these with me?