Elon Musk can’t hear you over the sound of his $1.75 trillion IPO

The article summarizes the release of SpaceX's S-1 filing for a potential IPO, highlighting its ambitious $28 trillion addressable market and a valuation target that could make it the largest IPO in U.S. history. It also previews a TechCrunch Equity podcast episode that analyzes the filing's contents, omissions, and the realism of its financial projections.

The SpaceX S-1 is finally here, and the story it tells goes way further than rockets. The filing runs to 36 pages of risk factors alone, and the numbers inside match the ambition: a $28 trillion total addressable market, a pay package tied to establishing a Mars colony, and a valuation target that would make it the largest IPO in American history. On this episode of TechCrunch’s Equity podcast, Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what the filing actually says, what it leaves out, and whether any of this math connects to reality. Listen to the full episode to hear about: - Why NanoCo turned down a $20 million buyout to raise a $12 million seed instead - Anthropic’s acquisition of SDK startup Stainless, and why taking a tool off the table matters as much as the $300 million price tag - What happened when commencement speakers started talking up AI in front of graduating classes, and why the students weren’t having it - Google’s I/O announcements claiming search as you know it is over, and what the AI makeover could mean for the open web Subscribe to Equity on YouTube, Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.