Safety
Three companies are about to IPO at a higher combined value than all 2,600 dot-com IPOs from 1995 to 2000 combined. – SpaceX, OpenAI, Anthro…
Three companies are about to IPO at a higher combined value than all 2,600 dot-com IPOs from 1995 to 2000 combined. – SpaceX, OpenAI, Anthropic (2026): ~3.75 trillion – Every dot-com IPO from 1995–200
Three companies are about to IPO at a higher combined value than all 2,600 dot-com IPOs from 1995 to 2000 combined. – SpaceX, OpenAI, Anthropic (2026): ~3.75 trillion – Every dot-com IPO from 1995–2000, inflation-adjusted: ~3.00 trillion Three names vs. two thousand six hundred names. The 90s mania had Pets. com, Webvan, eToys, theGlobe, Drkoop, and a thousand others nobody remembers. This mania has three companies. Each one priced at "generational opportunity." Manias used to be diversified. This one is concentrated. History says concentration is what makes the unwinding faster, not slower.
Source: Gary Marcus (X) | 2026-05-31