What SpaceX's IPO Means for Tech Stocks, and Coping With Panic Attacks

Key takeaways

Investors and companies should be cautious with IPO timing, especially after significant market declines like those seen with SpaceX, as large IPOs can influence broader market sentiment.
Diversification across asset classes and geographies remains crucial, especially during uncertain market times, to protect wealth.
Approaching celebrities and CEOs should be done with respect, assessment of the situation, and brief, genuine compliments to avoid being intrusive.
Panic attacks are common and manageable; techniques like grounding exercises, practice, and medication can help, and vulnerability about mental health fosters understanding and connection.

Summary

Market Movements and the Impact of SpaceX's IPO

Scott delves into the recent performance of SpaceX's IPO, noting its initial surge followed by a significant decline, which led to the loss of almost $750 billion in market cap. He discusses how this performance might influence the timing of future tech IPOs like OpenAI and Anthropic, suggesting that a decline could lead to increased caution among underwriters, although historically, high-profile successes often encourage more IPO activity. Scott also analyzes the potential market-wide effects, suggesting that the large IPOs could trigger a broader decline in the stock market, possibly around 40%, over the next several years. He emphasizes the importance of diversification and not trying to time the market, advocating for a strategy of broad asset and geographical diversification.

How to Approach Celebrities and CEOs Respectfully in Public

Scott offers practical advice for interacting with celebrities and CEOs when encountered in public. He recommends assessing the situation—whether they are in a private or open setting—and keeping interactions brief and respectful. His go-to approach is a simple compliment like 'Love your work,' which can set a positive tone. Scott shares personal experiences, emphasizing that most people appreciate genuine, unobtrusive compliments. He also discusses the importance of reading body language and respecting their vibe, suggesting that a friendly, brief interaction is appropriate unless the individual seems receptive to more conversation.

Living with Panic Attacks and Managing Stress

Scott shares his personal experience with panic attacks, explaining that they are often genetic and triggered by stressful situations. He discusses his own struggles with panic attacks, their symptoms, and his strategies for managing them, including the '333' technique—focusing on visual, auditory, and physical grounding exercises—and medication like beta blockers. Scott emphasizes the importance of practice, exposure, and not withdrawing from stressful situations, as well as normalizing vulnerability around mental health. His overarching message is that panic attacks are common, manageable, and that facing them head-on can help reduce their power over you.

Show notes

Scott Galloway breaks down what SpaceX's rocky debut means for the looming OpenAI and Anthropic IPOs, how to approach celebrities and CEOs without being "that person," and what a lifetime of panic attacks has taught him.

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