Keep pulling the thread on Howard Marks.
SpaceX is expected to complete the largest initial public offering in history.
Anthropic and OpenAI have both filed to go public.
Google announced the biggest stock sale in history.
Meta has signaled that it is exploring a major equity raise.
SpaceX is expected to be priced at more than 100 times sales in its upcoming IPO.
Howard Marks does not believe there is an analytical or value-based way to decide whether to participate in AI company IPOs or at what price.
Howard Marks believes AI is likely to be the most powerful force any of us have ever seen.
Howard Marks asserts that if the current AI-driven technological innovation does not produce a money-losing bubble, it will be the first of its kind.
SpaceX is set to go public at a valuation close to $2 trillion.
Howard Marks theorizes that the economic benefits of AI may accrue to its users rather than to the AI providers themselves due to intense competition.
The private credit market, which did not exist in 2010, has grown to $1.7 trillion today.
Howard Marks' guess is that the basic capabilities of AI are more likely to be underestimated today than overestimated.