Elon’s “Thinly Disguised Fraud”: $1.25T SpaceX-xAI Merger

The John Johnston Lounge · Mar 1, 2026 · 17m

John Johnston (JJ) breaks down how Yanis Varoufakis writes that the recent merger of Elon Musk’s SpaceX and xAI, is part of a financial market too eager to buy its own illusions. He thinks the market valuation is similar to the fraudulent arithmetic used during the Dot Com Bubble. Related episodes:It’s All Falling Apart For Elon Musk, Tesla & SpaceX https://open.spotify.com/episode/02oPX7onUsiODaZ71SDAF3Elon Musk’s ‘Self-Growing Moon City’: Anyone Still Believe Him? https://open.spotify.com/episode/7GqExGR4JY2mVIhfrNN0mzAI Bubble: Is OpenAI Cooked? Walls Are Closing In…