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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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Science & Technology

Building beyond LLMs with Luma AI’s Amit Jain (Live at Web Summit Qatar) | Equity Podcast

LLMs may have kicked off this AI boom, but the ceiling is closer than the hype suggests. As models run out of text data to train on, the companies and investors paying attention are already moving on. The next wave isn’t better chatbots; it’s machines that can understand the physical world. Luma AI, the Bay…

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LLMs may have kicked off this AI boom, but the ceiling is closer than the hype suggests. As models run out of text data to train on, the companies and investors paying attention are already moving on. The next wave isn’t better chatbots; it’s machines that can understand the physical world. Luma AI, the Bay Area lab that raised over $1.4 billion from a16z, Nvidia, and Amazon, is betting on exactly that.

On episode of TechCrunch’s Equity podcast, we’re bringing you a conversation Rebecca Bellan sat down with Amit Jain, co-founder and CEO of Luma AI, at Web Summit Qatar. Together, the pair dug into where the next trillion-dollar AI opportunity actually gets built, and whether the companies chasing it even know what they’re building yet.

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

Chapters:

00:00 Intro

01:13 Why LLMs are hitting a ceiling

02:43 The data problem & what comes after LLMs

04:30 What actually makes a world model a world model

06:05 Why 3D data is a dead end

07:39 What Luma is building next

09:08 How much humans stay in the loop

10:00 Near-term use cases for agentic video

11:22 Will AI kill jobs in film & production?

13:30 Why the entertainment industry is already dying

15:27 Why we actually need more content, not less

17:46 Luma’s roadmap: generation, understanding, and robotics

19:54 Outro

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CNET

iPhone in Space! Plus 5 MORE Apple Products That Went to Space | One More Thing

The iPhone has been to space a few times now — in fact, Apple products have a long history of space travel. CNET’s Bridget Carey looks back at notable moments, including the Macintosh Portable sending the first email in space. Read more about it on CNET.com Artemis II Astronauts Are Using iPhones to Capture Stunning…

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The iPhone has been to space a few times now — in fact, Apple products have a long history of space travel. CNET’s Bridget Carey looks back at notable moments, including the Macintosh Portable sending the first email in space.

Read more about it on CNET.com
Artemis II Astronauts Are Using iPhones to Capture Stunning Space Images

You can find the products mentioned in this video linked below
iPhone 17 Pro 512GB
Apple 2026 MacBook Neo 13-inch Laptop with A18 Pro chip 512 GB
Nikon Z 9 mirrorless camera
Nikon D5 DSLR 20.8 MP Point & Shoot Digital Camera
*Cnet may get commission on this offer.

0:44 Getting an iPhone 17 Pro Max into space with the NASA Artemis II crew
1:57 Nikon and GoPro Cameras also used in space by NASA Artemis crew
2:48 History of Apple products going to space
2:53 iPhone goes to space in 2021 with SpaceX Inspiration4 crew
3:02 iPhone 4s goes to space in 2011 on space shuttle Atlantis mission
3:26 Fist iPhone in space in 2010 travels by weather balloon
3:45 iPads on the International Space Station
3:47 iPods on the ISS in space
4:00 iPod on space shuttle Discovery in 2006
4:15 Astro Jessica uses AirPods in space on ISS
4:37 Apple Watch in space
4:51 The mac goes interstellar
4:57 Macintosh Portable computer goes to space in 1990
5:26 First email sent in space in 1991 from a Macintosh Portable
5:31 ThinkPads used in NASA missions
5:45 Microsoft Outlook glitches in space for Artemis II crew
6:02 How NASA made cell phone cameras possible
6:20 What Apple tech will go to space next?

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#tech #space #microsoft #apple #spacex #thinkpad #nikond5 #iphone #nasa #artemis2 #onemorething

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Popular Science

Americans loved drinking radioactive ‘miracle water’ in 1920s

Radithor promised to cure everything from wrinkles to leukemia, but its unintended results were deadly. Watch the full video:

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Radithor promised to cure everything from wrinkles to leukemia, but its unintended results were deadly.

Watch the full video:

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