← Home
Empire · June 5, 2026 · 1h 16m

SpaceX's $1.75T IPO, Strategy Sells Bitcoin & Crypto's Hard Reset

Jason Yanowitz, Rob Hadick, Ryan Zurrer, Santiago Roel
Show Notes

Empire hosts a weekly roundup on SpaceX's anticipated $1.75T IPO with early investor Ryan Zurrer, exploring valuation frameworks and market timing. The show also examines why the current crypto bear market feels worse than previous cycles, identifies DeFi opportunities for 2026, and discusses Strategy's Bitcoin sale and the potential path to $40k BTC.

This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.

Novel

•
The Machine Economy: Robots as Liquid Asset Class19:02
peaq OS introduces a framework where autonomous agents (robots) become tradeable assets with yield tied to real-world workloads, creating a new asset class.
ClaudeChatGPTGemini

Highlights

•
SpaceX Valuation at $1.75T IPO07:50
Ryan Zurrer and the Empire team break down how to value SpaceX ahead of its anticipated $1.75 trillion IPO, discussing bull vs. bear cases.
ClaudeChatGPTGemini
•
DeFi Opportunities Emerging in 202636:20
Despite bear market conditions, specific DeFi primitives and protocols are showing signs of opportunity for builders and investors.
ClaudeChatGPTGemini

Editorial

•
Crypto Bear Markets Feel Worse Than Previous Cycles19:48
The hosts observe that the current crypto bear market carries a different psychological weight and market structure than prior downturns.
ClaudeChatGPTGemini
•
Strategy's Bitcoin Sale Signals Market Psychology Shift48:50
Strategy (a major crypto holder) sells Bitcoin holdings, raising questions about whether $40k becomes the new technical floor or a bear market bottom.
ClaudeChatGPTGemini

Misc

✧Ryan Zurrer is an early SpaceX investor with deep insight into company valuation
✧Discussion highlights the psychological difference between this bear market and prior cycles
✧The episode touches on the 'Machine Economy' and AI agents as an emerging asset class
Was this useful?