Ron Baron Thinks SpaceX Will Be Worth $30 Trillion — And YouTube's Finance Crowd Is Debating Whether We're Already in 1999

Let's start with the man of the hour: Ron Baron of Baron Capital went on CNBC's Squawkbox and said, with a straight face, that SpaceX will be worth $10–$30 trillion in 10–15 years — comparing it to the East India Trading Company. His $1.007 billion investment is already worth ~$15 billion, so maybe don't laugh too hard. He's projecting Starlink alone hits $14–15 trillion in value as it scales from 15 million to 300 million subscribers. The IPO, expected to debut on NASDAQ at a $1.5–$1.75 trillion valuation, could be the biggest stock debut in history — with only $70 billion available for public purchase. Good luck getting an allocation, regular people.

Meanwhile, the 1999 debate is raging. Dan Niles on Seeking Alpha notes the NASDAQ is already up 122%, outpacing the dot-com era's 109% surge, and says the AI rally has at least another year left. Cramer on Mad Money agrees the setup is different — non-tech names like $HRL and $GIS are getting crushed while AI stocks are overloved, a bifurcation the dot-com bubble never showed. But Jamie Dimon is side-eyeing all of it, citing geopolitical risk, deficit spending, and a consumer increasingly split between the thriving top 50% and a struggling bottom 30% burning through savings.

Sprinkle in a 3.8% CPI print — hottest since May 2023 — a freshly confirmed Fed Chair Kevin Warsh who's immediately handcuffed by rising energy costs, a $56 billion GameStop eBay bid that eBay called 'neither credible nor attractive' (accurate), and a Clarity Act that could reshape crypto... and yeah, YouTube finance is not short on material. The Strait of Hormuz being closed for 10+ weeks with oil near $102/barrel is doing a lot of heavy lifting on the inflation side — and nobody's found the off switch yet.