In episode 807 of DHUnplugged, titled "MahJong and Markets," hosts John C. Dvorak and Andrew Horowitz dive into a whirlwind of market news, including SpaceX's stock falling below $147 after its IPO, the passing of former Federal Reserve Chairman Alan Greenspan at age 100, and a dramatic surge in RAM prices that is rattling PC buyers. The episode, released June 23, 2026, also covers the Korean KOSPI briefly entering correction territory and Alphabet replacing Verizon in the Dow Jones Industrial Average, which lifts the index's tech weighting from roughly 17% to 22%.
Horowitz and Dvorak launch a new "Closest to the Pin" contest for SpaceX shares, as the stock slides post-IPO. They discuss Elon Musk's $7.5 billion Tesla options cash-out, a $20 billion bond offering, and a $6.3 billion computing deal with Reflection AI at the Colossus 2 data center in Memphis. On Musk's relentless deal-making, Horowitz notes, "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." Dvorak, tracking insider selling, observes a "sea of red" on his screen, with Cantor Equity Partners (linked to Commerce Secretary Howard Lutnick) as the lone buyer.
The hosts revisit Greenspan's legacy, calling him a "walking thesaurus" whose vocabulary once required decoding. They also dissect the eye-watering surge in DDR5 RAM prices, which jumped from about $75 to $450, and note Dell quoting a $5,700 corporate desktop that costs $2,700 on the consumer site. Dvorak warns that memory pricing defies the historical learning curve and that Micron, SanDisk, and Western Digital could face brutal oversupply.
Horowitz revisits 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 duo digs 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. They also flag the mahjong craze, citing Yelp's 4,400% search surge.
With China's H-shares entering a bear market as retail sales contract, the hosts argue the market is entering one of its strangest stretches in years. Their skeptical, humorous edge permeates the episode, available at DHUnplugged.com and on Spotify, Amazon Music, Apple Podcasts, and RSS.
