Three major IPOs need $200B capital; mega-cap tech selling could crash entire S&P 500.

SpaceX, OpenAI, anthropic are all racing IPO at the same time. I mean, SpaceX IPO already. The market needs to come up with $200 billion in fresh capital to absorb them. That money has to come from somewhere. Large funds will start selling their biggest text positions to free up cash. NVIDIA, Microsoft, Google will be the first to get sold. The problem is, those three names are carrying the entire S&P 500. When they drop, everything drops. And he says, this is playing out exactly how it played out during the COVID era IPO wave. We had Rivian, Coinbase, and Robinhood all go public at absurd valuations. The Fed tightened, liquidity disappeared, and everything crashed 80%. AI and tech are already stretched thin.