Collecting Keys - Real Estate Investing Podcast

EP 496 - Why SpaceX and Bitcoin Hype Pays Everyone But You

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0:00 | 47:09

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Kiavi just sold for $717 million, SpaceX is about to IPO at a $1.77 trillion valuation, and the through-line is the same: the people selling deals get paid whether you win or lose. In this episode, Mike, Dan, and Dylan break down why lenders are built to be flipped, why every standard metric on the SpaceX IPO makes zero sense, how AI data centers actually help your town, and why bigger funds quietly hand you worse returns. The lesson: before you invest, follow the incentives.

Topics discussed:
Introduction (00:00)
Kiavi sells to Figure for $717 million (04:38)
Why lenders are built to be sold, not held (06:22)
The fraud borrower with six loans (16:40)
Why the SpaceX IPO breaks every metric (18:12)
Mike bets SpaceX drops below $135 (23:16)
Is Bitcoin just the next hype trade? (23:32)
CPI games and the rigged inflation math (27:32)
Why AI data centers are a nothing sandwich (28:50)
A decade of inflation until 2030 (29:14)
America: the best house in a bad neighborhood (38:07)
Why bigger funds quietly punish you (42:59)
Follow the incentives before you invest (45:15)

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