In the latest episode of DHUnplugged, hosts John C. Dvorak and Andrew Horowitz unpack a flurry of market developments, including SpaceX shares trading below their IPO price of $147, the death of former Federal Reserve Chairman Alan Greenspan at age 100, and a sharp rise in RAM prices that is rattling PC buyers. The episode, titled "MahJong and Markets," was released June 23, 2026.
SpaceX's stock has slipped under $147 following its initial public offering, a notable decline that comes amid Elon Musk's $7.5 billion cash-out of Tesla options and a $20 billion bond offering. The company also struck a $6.3 billion computing deal with Reflection AI at the Colossus 2 data center in Memphis. Horowitz highlighted a striking perspective on Musk's deal-making: "Someone said something very interesting today, that he sees these as points in a game, like points in a video game, tokens that you win. It's not real money."
In memory of Alan Greenspan, the hosts described him as a "walking thesaurus" whose vocabulary once required decoding. Greenspan, who served as Fed chairman from 1987 to 2006, died at 100, prompting reflections on his legacy.
RAM prices have exploded, with DDR5 modules jumping from about $75 to $450. Dvorak noted that Dell is quoting a $5,700 corporate desktop that costs $2,700 on its consumer site, highlighting the impact on businesses and consumers. The hosts warned that memory pricing defies the historical learning curve and that Micron, SanDisk, and Western Digital could face brutal oversupply.
Other stories covered include Alphabet replacing Verizon in the Dow Jones Industrial Average, lifting the index's tech weighting from roughly 17% to 22%; the Korean KOSPI briefly plunging into correction territory; and China's H-shares entering a bear market as retail sales contract. Dvorak observed that insider selling across dozens of companies shows a "sea of red," with Cantor Equity Partners (linked to Commerce Secretary Howard Lutnick) as the lone buy.
The hosts also delved into Chris Bloomstrand's analysis of hyperscalers shifting from asset-light to asset-heavy models, Satya Nadella's comment that AI has become commoditized, Oracle cutting 21,000 jobs, Getty Images soaring 145% on an OpenAI licensing deal, and a Chevron-Microsoft 20-year natural gas power pact dubbed Project Kirby. A mahjong craze was flagged, citing Yelp's 4,400% search surge.
Horowitz revisited his long-running mattress-company thesis, pointing to Sleep Number (SNBR) collapsing from $140 to roughly ten cents, calling it a "swing and a miss" short. The episode is available on DHUnplugged.com and on Spotify, Amazon Music, Apple Podcasts, and RSS.
