SpaceX Lost $500 Billion in a Month, and No One's Panicking

Elon Musk's net worth is down to "only" $600 billion after SpaceX lost $500 billion in value over the past month. Jerremy Alexander Newsome and Dave Conley open on the US-Iran conflict — Iran's health ministry says 50 civilians are dead and hundreds are hospitalized, and there's still no diplomacy on the table. Micron is down 34% since June 24, Intel's off 35%, and Dell has doubled since March while chopping sideways at resistance. Jerremy expects SpaceX to keep falling before a relief rally, and thinks Tesla will "ping-pong" through earnings the same way it did last summer. Dave breaks down the local political fights erupting over AI data centers' water and power use, plus the case for a rout in the midterms if the economy stays weak — his outside bet is that the president won't finish his term. Timestamps: (00:28) No diplomacy – Iran conflict grinds on with servicemen lost, still no endgame (01:48) Micron, Dell, Intel diverge – one's down 34%, one's up 200% (04:35) SpaceX cut in half – Musk's net worth drops to "only" $600B (05:33) Tesla's earnings script – Jerremy bets on chop, not a breakout, again (06:44) Alphabet's real test – does AI actually make businesses any money (09:20) Data centers spark local revolt – water, power, and noise fights heat up (13:41) Dave's outside bet – the president won't finish his term 🌍 Connect with us: Instagram | YouTube | X