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SpaceX is coming to the public markets, and secondaries are already on fire | Equity Podcast

SpaceX is reportedly lining up four major Wall Street banks for a 2026 IPO that could provide the reset the market needs. The company just completed a tender offer at an $800 billion valuation, and secondary market demand is through the roof. If SpaceX goes public anywhere near its rumored $1.5 trillion valuation, it could…

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SpaceX is reportedly lining up four major Wall Street banks for a 2026 IPO that could provide the reset the market needs.

The company just completed a tender offer at an $800 billion valuation, and secondary market demand is through the roof. If SpaceX goes public anywhere near its rumored $1.5 trillion valuation, it could trigger an IPO cascade for other late-stage unicorns like OpenAI, Stripe, and Databricks.

Today on TechCrunch’s Equity podcast, Rebecca Bellan spoke with Greg Martin, Managing Director at Rainmaker Securities, to discuss why this IPO feels different, how tech employees are cashing out through secondary markets before companies go public, and what investors are actually looking for in pre-IPO shares.

Chapters:
00:00 Introduction

01:39 The Booming Secondary Market for Pre-IPO Shares

04:06 SpaceX as an IPO Bellwether

06:31 Why Elon Musk Changed His Mind on Going Public

10:04 The Race to a Trillion-Dollar Valuation

12:27 The Elon Halo Effect on Valuations

15:17 What Signals an Upcoming IPO?

17:50 How Secondaries Drive Better Price Discovery

20:47 How SpaceX Secondaries Actually Work

24:03 What Investors Want from Pre-IPO Companies

25:11 The Have and Have-Not World of Secondaries

26:42 Outro
Subscribe to Equity on ⁠YouTube⁠,⁠ Apple Podcasts⁠,⁠ Overcast⁠,⁠ Spotify⁠ and all the casts. You also can follow Equity on⁠ X⁠ and⁠ Threads⁠, at @EquityPod.

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4 Comments

4 Comments

  1. @christianguzman92

    January 28, 2026 at 2:44 pm

    Love it

  2. @LamNguyen-je7so

    January 29, 2026 at 12:13 am

    Who does the hiring for techcrunch? That girl obviously has bias against Elon Musk and has no clue about Tesla. Credit to the guy to have restraint and not scuff at her idiocy

    • @PhongNguyen-nz9kz

      January 30, 2026 at 7:51 am

      I think it’s just her

  3. @RussellThomason

    January 29, 2026 at 3:11 am

    The host is an uninformed biased idiot.

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CNET

Galaxy Watch Ultra 2 Review: Samsung’s Best and Most Accurate Watch, but Is It Worth $700?

I tested its features, accuracy and battery life, and this is Samsung’s best watch yet. But it’s also the most expensive. Here’s who should splurge on the Ultra 2 and who’s better off with the Galaxy Watch 9. You can find the products mentioned in this article linked below Samsung Galaxy Watch Ultra2, Titanium Silver,…

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I tested its features, accuracy and battery life, and this is Samsung’s best watch yet. But it’s also the most expensive. Here’s who should splurge on the Ultra 2 and who’s better off with the Galaxy Watch 9.

You can find the products mentioned in this article linked below
Samsung Galaxy Watch Ultra2, Titanium Silver, 47mm
Samsung Galaxy Watch Ultra2, Titanium Gray, 47mm
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Read more about the Samsung Galaxy Watch Ultra 2 on CNET.com:
Samsung Galaxy Watch Ultra 2 Review: Better Battery, Better Galaxy Watch

Timecode Chapters:
0:00 Intro
0:48 Galaxy Watch Ultra 2 Battery
1:16 Galaxy Watch Ultra 2 Processor
2:02 Galaxy Watch Ultra 2 Design
2:57 Trail Running with the Galaxy Watch Ultra 2
3:58 Diving with the Galaxy Watch Ultra 2
4:10 Galaxy Watch Ultra 2 Health Features
5:45 Galaxy Watch Ultra 2 Accuracy
6:21 Should You Buy the Galaxy Watch Ultra 2?

Video Credits:
Host: Vanessa Hand Orellana
Scripted by: Vanessa Hand Orellana
Producer: Celso Bulgatti
Camera: Celso Bulgatti
Video Editor: Celso Bulgatti
Thumbnail Designer: Zooey Liao

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Science & Technology

Mark Zuckerberg Has a Question for AI Doomers

Mark Zuckerberg dropped a 6,500-word letter detailing his vision for “The Path to a Positive AI Future.” Equity takes a closer look at one of his arguments: If you believe AI could eliminate most jobs and humanity’s relevance, why rush to build that future?

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Mark Zuckerberg dropped a 6,500-word letter detailing his vision for “The Path to a Positive AI Future.”

Equity takes a closer look at one of his arguments: If you believe AI could eliminate most jobs and humanity’s relevance, why rush to build that future?

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Science & Technology

Why Depression Isn’t What You Think | Lisa Monteggia | TED

The idea that depression comes from a chemical imbalance in the brain has shaped treatment for decades. Neuroscientist Lisa Monteggia shares research suggesting that’s not the whole story — and shows how a decades-old drug could upend what we thought we knew about depression, with the potential to offer relief within hours. (Recorded at TEDxNashvilleWomen…

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The idea that depression comes from a chemical imbalance in the brain has shaped treatment for decades. Neuroscientist Lisa Monteggia shares research suggesting that’s not the whole story — and shows how a decades-old drug could upend what we thought we knew about depression, with the potential to offer relief within hours. (Recorded at TEDxNashvilleWomen on August 21, 2025)

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The TED Talks channel features the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less) — plus originals, podcasts and exclusive content. Look for videos on Technology, Entertainment and Design as well as science, business, global issues, the arts and more. Visit for our entire library, transcripts, translations and personalized recommendations.

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#TED #TEDTalks #Science #Depression

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