OpenAI’s $1.25T Raise, Starlink Mobile & Zuck’s Tax Deal | EP 2354

Jason argues OpenAI's $1.25T raise is now fairly priced at 30x revenue and worth a meaningful retirement bet alongside SpaceX and Anthropic.

• OpenAI round 'right-sized': Jason says OpenAI's $30B raise at $1.25T (down from a reported $1.4T a month earlier), led by UAE investors, is now fairly priced at ~30x the company's ~$50B annualized revenue run rate, versus the ~100x multiple seen a year ago.
• Hypothetical allocation: Jason says he'd put 30% of a 20-year retirement horizon into OpenAI, SpaceX, and Anthropic combined, weighting SpaceX heaviest (~20%) given Starlink, rockets, and robotics beyond its AI bet.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.