The Philip DeFranco Show - Joe Rogan Caught in "Michelle Obama is a Man" Scandal & & I'm Giving $1,000,000 Away

Episode Date: June 15, 2026

Just go to https://www.zocdoc.com/phil and download the Zocdoc app for FREE. Then find and book a top-rated doctor today! - Get Early Tickets to Join Us on Tour! https://linktr.ee/crashingouttour  - BEAUTIFUL BASTARD Premium blanks, signature fits, and the new tie dye drop. Go get your new favorite shirt! 👉 https://beautifulbastard.com LISTEN TO THE SHOW iTunes: https://podcasts.apple.com/us/podcast/the-philip-defranco-show/id1278424954 Spotify: https://open.spotify.com/show/6ESemquRbz6f8XLVywdZ2VWATCH CRASHING OUT w/ PHILIP & ALEX Youtube: https://www.youtube.com/channel/UCergKLoy-Yv9zlPk3XQYK7Q?sub_confirmation=1 Spotify: https://open.spotify.com/episode/2DkU87umhGH9mH1z24Bi9w?si=6sSdjhVNQjyVeBQDLiXcyg Apple: https://podcasts.apple.com/us/podcast/crashing-out-with-philip-defranco-and-alex-pearlman/id1843429519 JOIN OUR COMMUNITY 📸Instagram: https://instagram.com/PhillyDeFranco  🐦Twitter: https://twitter.com/phillyd  🎵TikTok: https://www.tiktok.com/@philipdefranco TODAY’S STORIES 00:00 - I Won MrBeast’s YouTuber Challenge & Am Giving Away $1 Million to Subscribers  03:05 - Eric Trump Accused of Trying to Profit off “Rigged” White House UFC Fights  08:38 - FIFA Proposes Israel vs. Palestine Match to Open Youth Soccer Tournament 12:50 - Sponsored by Zocdoc 13:59 - U.S. & Iran Announce Deal to End War and Reopen Strait of Hormuz 20:40 - SpaceX Stock Rises Even More on First Full Day of Trading 23:59 - Singer Oliver Tree Killed in Helicopter Crash THE TEAM Produced by: Cory Ray Edited by: James Girardier, Maxwell Enright, Julie Goldberg, Christian Meeks, Matthew Henry Art Department: William Crespo Writing/Research: Philip DeFranco, Brian Espinoza, Lili Stenn, Maddie Crichton, Chris Tolve, Star Pralle, Jared Paolino, Victor Sledge   ———————————— #DeFranco #OliverTree #JoeRogan Learn more about your ad choices. Visit megaphone.fm/adchoices

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free of charge. BetMGM operates pursuant to an operating agreement with Eye Gaming Ontario. Trump's UFC Freedom 250 birthday bash was more embarrassing than expected for reasons you couldn't have predicted. Oliver Trey's unexpected death is people heartbroken. The shocking new FIFA-Israel-Palestine controversy is people pissed, and I am giving a million dollars away. We're talking about all of that, and even more, on today's brand new Philip DeFranco show, you daily dive into the news. So buckle up, hit that like button and let's just jump into it, starting with this. I'm giving a million dollars away.

I can finally announce this. I'm going to have more details coming soon. I want to give 40 people 25K a pop. The reason that I'm able to do this, it's almost an accident. It was not expected. But out of the blue, I get an invite to the Mr. Beast 50 YouTuber challenge video,

something I definitely didn't expect given my past coverage of him because while I aim to be fair, the subject of really any of my stories, they're not usually Philip DeFranco fans. And it's also something I'd normally immediately decline. But then I thought, realistically, when am I ever going to get another chance

to see the behind the scenes of Beastink and what these productions are like, like for myself? I've covered stories about it over the years, so my thinking is, you know, even getting an on-the-reesome, Rails contestant experience that could be very helpful.

There's 50 people statistically I'm going to get eliminated. Maybe I get eliminated early. I can look around. And then also when this video goes live, I can compare the experience, what was filmed versus the final edit. But then I get there and I almost get eliminated in the first round, but I survive, and then I keep winning and winning, and then I win the whole thing. And now I get to pluck a million bucks at a Mr. Beats wallet and give it to a bunch of y'all. And it's also a thing that I want to stress. This is not me trying to make a bag for myself.

I've seen some misleading things, some misinformation out there. This is about giving money to my subscribers. This is for the beautiful bastards that a Franco nation, whether you've been with me for a day or from day one, you know the monkey logo. You're the people that, honestly, I mean, you gave me a life that I strive and I don't know if I do a good job to be worthy of every single day. So it is amazing to be able to give back and, you know, do some good in a way that can actually have an impact. And actually, funny enough, by giving this money away, it's probably going to cost me money. It turns out giving away money like this. It's very complicated depending on how you do it.

It can be very involved, very expensive. Yeah, details are being finalized, more information, it's going to be announced later. just, I guess, make sure you subscribe here. And also, I'd say, like, on all my social pages, something happened three, four weeks ago, and YouTube has just kind of suppressed this channel. I'm getting, like, half the impressions I was the week prior. Oh, and also, do you want a little drama?

I found out over the weekend, I almost got screwed out of this money for you guys. Well, J.C. Kalen was live. I asked him, hey, were people trying to rally votes near the end? I heard some kind of, like, murmuring. And he said this. Philip asked, if it's true that y'all were trying to rally votes in the back. I was offered some money.

Do not vote for you, someone else, right? And I still voted you, bro. And I didn't know that that was allegedly going on. I thought there was like an old school YouTuber versus like gaming tuber like thing going on. So one, I feel extra thankful to have this opportunity to give you all this money. And two, extra thankful to all the fantastic YouTubers who voted for me in general and or in the face of personally getting some cash themselves. If that was actually happening and it wasn't just with JC. And also if some of you interested in like my personal experience there, the things that I noticed that they cut out, the whole experience.

I might do like a watch party thing on Friday, but I'm 50-50 on it right now. So if you do want that, let me know in those comments. and then also, you know, subscribe, turn all notifications on, and maybe just for good measure, text me at 813-213-4-2-23 to join the Secret not-secret text line. Yeah, with that said, let's talk some news. Last night, professional fighter has walked out of the Oval Office down a red carpet into a cage on the White House South Lawn. While military bombers screamed overhead, the Marine band played, and Joe Rogan put on

maybe a child's tie and called the action. He's already little dude, why was the tie even smaller? Yeah, that was a setup to supposedly help celebrate America's 250th birthday, though it really seemed to be more about Trump's 80th birthday. And as far as the crowd, he had over 4,000 people, including JD Vans, much at Trump's cabinet, Mike Johnson, as well as Mark Zuckerberg and David Ellison,

who's Paramount Plus, actually streamed the event. The crowd, I mean, they got entertained with knockout after knockout and ads for everything from Budweiser to crypto. And actually, it almost didn't happen because a watchdog group called the Public Integrity Project, they sued to block it. They filed on behalf of two locals who said that they frequent this area. They were offended by a cage match going up next to the national monuments. They called the setup hideous, grotesque, disgust.

and they argued that the whole thing was corrupt, right? Arguing that it's a for-profit spectacle benefiting Trump's allies like UFC Boston, and David Ellison. But a judge tossed that case on the grounds that they really hadn't shown standing or any irreparable harm. But then also there was threat number two, the weather. The weather channel was warning about a 60% chance of thunderstorms and wind gusts of up to 35 miles per hour on the south lawn. The event even got pushed by an hour. But the West Wing's rapid response account, they apparently took offense and they fired back at the weather channel.

Writing on Twitter, this event is about celebrating America's unmatched greatness after 250 years, which apparently doesn't sit well with a friendless loser who wrote this bullshit clickbait, But also that reaction in controversy, it was nothing compared to the other two big things of the night. Or the first, centering around Daniel Kormier, who's, if you don't know, is a UFC Hall of Famer. He's one of the night's commentators alongside Rogan. And he's the man whose Twitter account posted something that just blew up on the internet. With the tweet reading, I'm probably going to get a lot of flack for bringing this to light. However, I refuse to stay silent.

I will not tolerate this type of insider behavior. Shame on anyone trying to ruin this beautiful event. And with that, there was a screenshot of a text exchange that appeared to be between Kormeer and Eric Trump. And in it, it looks like the president's son opens with anything you can tell me about the fighters who you got winning. Cormiere appears dodged, then it looks like Eric Gito gets a little more direct saying you placing any bets, you get another dodge. And you see the question, are any of the fighters injured that you know of? To which Cormii appears to answer in the screenshot, I'm not

quite sure why you're asking me this, but I think they're all in good shape. With a text that's allegedly from Eric reading, I'll just cut to the chase, are any of the fights tomorrow rigged? I've been eyeing the Lopez fight and I think an upset wouldn't be too unrealistic. With Cormiere appearing to shut it down saying, no, none of our fights are rigged and honestly I am appalled that you would even ask me something like that. And so if that exchange is authentic, would appear like the president's sons looking for insider info to bet on a fight, which would be extremely illegal. But then we see a number of things happen. You've got Eric Trump jumping on Twitter saying we are aware of the fake AI generated screenshots being circulated online, claiming I have never spoken to Daniel. He has since deleted his post,

which confirms it was clearly fabricated. And Cormier, who appeared to delete the post within minutes, seemed to back him up, writing, are people really this dumb? To which Eric replied, thanks, Daniel. And he actually thanked Cormier again when there was video posts that showed Cormier saying that he was hacked or something. And so for a lot of people, that was case closed, but then for a lot of other people, it just raised more questions. But initially you had a lot of people saying the Cormier account didn't actually tweet this out, but you had multiple journalists saying they saw the post come from the actual account, not some impersonator. Also before Cormier said that he was hacked, you had people going, okay, if this is AI, how did Cormier fall for a deep fake of himself

saying something that he know he never said? But then also you had people saying, okay, well, let's say he did get hacked. How did he get control back fast enough to delete it in minutes? And you also had a number of people bothered by D.C. saying, why would I tweet that? Which a number of people took that this is fake, but if it was real, he would have just stayed silent. And so generally there, that was a mess, but that is not where the mess ended. Because while a lot of the fighters kind of throughout the night, fresh off the thrill of some win, they'd run over to the president and give him, you know, the kind of Hooters treatment kneeling in front of him, shaking his hand.

The one that's really popped off was when Josh Hokit gifted Trump a gold chain and then delivered this victory speech to Rogan. I'm here with the winner Josh Hokka, Josh, once again, you prove the doubters wrong, moved to 10 and 0. Hey, shout at the Trump for having the balls to put some shit like this on. And if I'm gonna say anything, there's only one person more incredible than the incredible Hulk. And that's my Lord and Savior, Jesus Christ. And lastly, Moschelle Obama is a man. Am I right, America? Well, you saw a lot of Maga kind of loving this and race in this. There were also a lot of

people that thought that crossed the line. But even for a Trump event, a UFC event, and especially for America's 250th anniversary on the White House long. But even everyone from Shane Gillis to Dana White to Dave Portnoy seemed to not be a fan. And actually had Portnoy of all people saying that Trump should denounce it. Oh and then also I forgot about this because there was all the other stuff. There was drama last night about UFC middleweight champion Sean Strickland who made a big stink about supposedly being banned from the event on social media. Where he claimed that a UFC promised him entry but then he said I'd later got a call from the UFC saying I wasn't cleared

by the White House. And as far as why he said I made fun of Israel and Epstein. And also for additional contact Strickland he used to be a big Trump guy but ever since Trump started bombing Iran he's become a critic. And as far as Dana White he actually denied the accusation. Everybody's banned apparently. Apparently, everybody is banned. Um, of course Sean Strickland is. Sean Strickland is banned from humanity, okay? We don't want him near any human beings anywhere. It shows up a power slap. He starts fights. He's at and he made it very clear that he didn't want to be a part of this event and now apparently he's banned. And while it doesn't look like he went to the main event,

Strickland did sneak into the fan fest of the White House ellipse where he jumped into this WWE ring and got kicked out by security. Them saying, the only male American champ banned at the the White House because I said Trump is owned by Benjamin Netanyahu. That's not public opinion, it's fact. But with all that said, one, I'd really love to know your thoughts on any of the controversies and just last night in general. And two, if anyone finds out which middle schooler Joe Rogan stole that clip on tie from, please let us know. Also, and this is kind of connected to where we need to go next, it was very interesting to see kind of the different kinds of celebrations we've seen recently. Because while there's definitely different levels to it,

and it's not a one-to-one, it's hard not to look at this and then also look to New York. Because I guess, I don't know, if you've lived under Iraq recently, you might not have seen the Knicks beat the San Antonio Spurs 94 to 90 in game five. They clinched their first championship title in over half a century. And fans, as many were expecting, went absolutely buck wild, though New York did not go full Gotham. Or even had Mayor Mamm Dani joining him at a bar to celebrate. And just general vibes have been immaculate. And actually just in general, it's been amazing to watch New York through the NBA playoffs, but also I think really since Mbondani got elected. But then now also where we're seeing a lot of energy is with the World Cup.

But what you might not have known is while those matches, they're playing out, FIFA is also working on an upcoming youth soccer tournament. And today we learned that the organization is reportedly wanting the opening match to be between Israel and Palestine. Right, because it's a youth tournament, the players are going to be under 15. They're going to be competing here in the States in September. And it's open to all 211 FIFA member associations, even Russia, right? Which is really notable because they're currently banned from FIFA competition since the Ukraine war. And while host city, it's not officially locked in.

It's expected that it's going to be Miami. And while this series of games are only going to include boys teams, there will be a girls tournament next year. And as far as why, open this with Israel and Palestine, you had sources telling the athletic that FIFA wants the opening game to broker world peace. So this idea, it's obviously a controversial one in Palestine's Football Association, didn't give any comment on these plans, though Israel's did, and they told the outlet, our FAA president will stick to what he said publicly several times at FIFA Congress and everywhere. We are more than ever willing to use football as an instrument to promote normalization and peace. And saying our hands are always extended for a better future for everyone. We hope to find a brave partner on the other side.

One of the other notable things here is that this is actually not the first time that FIFA has tried to insert itself into what what was happening there. Right next annual Congress meeting back in April, you had the president of FIFA asking representatives from both Israel and Palestine to join together on stage. But as Palestine's rep approach, he stopped short of actually standing alongside the Israeli rep and instead only talked to the president. And while we can't hear exactly what was said, he definitely seemed upset and uninterested in any impromptu public peace moment. But afterwards, you still had the president of FIFA saying, We will work together, President Rajub, Vice President Suleiman. Let's work together. Let's work together

to give hope to the children. Let's work together for that. We have a beautiful under-15 tournament coming up where we will invite all 211 countries to participate, all the children of the world. Let's do it for that. Please, we work together. You have my commitment.

You have the support of the whole room. Herb with the Palestinian rep ended up walking off the stage after this and told Al Jazeera, He has the right to try to bring people together but I think maybe he understand, but he does not know the deep suffering of the Palestinian people and the Palestinian sport family. Right, and actually, as far as public reactions, I mean, people have expressed similar sentiments to what we just heard. Like at the FIFA, they're just out of touch for suggesting this.

Among other things, you have some noting that Israel's killed a number of Palestinian athletes and others saying Palestinian youth should not be forced to play representatives of the state committing the genocide of their people. Other saying, do these fuck-ass people think a friendly football match between Palestine and Israel can erase the genocide and ethnic cleansing Palestinians are going through? Right, in arguing that there is a particular cruelty in making these kids do this. Right, and this is playing out amid other backlash with the World Cup. In Canada, protesters unveiled a massive banner calling for Israel to be kicked out of FIFA. Also, Iran, they're playing a game in Los Angeles today, and there have been protests ahead of that. Los Angeles, they have a very high population of Iranian Americans, and yet some gathering to stand against Iran's government to call for democracy in the country.

Without Jazeera explaining that some opposition activists view the football squad as an extension of the, the governing system in Tehran. So before the game, they're going to likely protest outside of the stadium as well. The Wallsaw say there is kind of a split as some Iranian Americans just want to put politics aside for the game. But then also the war has created other contentious backdrops here. Iranian fans have had their tickets to U.S. games revoked and Iran's already under a travel ban as well. With their players, they've been granted visas for the games with Trump's World Cup Zarr recently calling this another example of the goodwill gesture to the team. Some still don't believe Iran's team and its fans have been treated fairly with one civil rights lawyers saying that

the restrictions that have been placed upon them run counter to the World Cup serving as an open global sporting event. saying I think it's disgraceful and fortunate and inappropriate. Sports bring people of all backgrounds and beliefs together. Then there's more that we've got to dive into in just a minute. But first, let me thank a sponsor and say, you know, nothing spikes your anxiety faster than Googling a symptom and getting search results ranging from drink more water to you have six minutes left, which is why I stopped letting the internet be my primary physician.

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This message is sponsored by Zock Doc. But then I've been right back into the news. The U.S. and Iran have announced a new preliminary deal to halt the fighting and reopen the straight-of-hor moves. And while the details of this agreement, they haven't been made public yet, it does seem like Donald Trump has failed to achieve almost every single one of his goals in this war. Or the future of Iran's nuclear program, for example, that hasn't been decided yet. And they're saying that issue has to be negotiated over the course of a new 60-day ceasefire that's set to begin after the signing of this framework agreement in Switzerland on Friday. And funny enough, when Trump announced that a deal had been reached yesterday, he didn't make any mention of that. Instead, you had him out there just trying to celebrate the possibility of a return to the pre-war status quo.

Writing a hereby fully authorized the toll-free opening of the Strait of Hermuz and simultaneously herewith, authorize the immediate removal of the United States naval blockage. Ships of the world, start your engines, let the oil flow. With him then claiming that many presidents had tried to make peace with Iran before him, but all had failed, and adding the leaders of the region had for the first time found a president who, who can help them achieve real peace. So yeah, okay, let's review. The US and Israel attacked Iran on February 28,

killing their supreme leader, numerous other high-ranking officials and more than 100 schoolchildren. Trump and his team, they laid out several other consistently shifting and sometimes contradicting objectives and justifications for this war. And in addition to keeping Iran from ever having a nuclear weapon, which US intelligence agencies had not found

that Iran was actually pursuing, these included. One, destroying Iran's military and especially ballistic missile capabilities, two, ending its support for regional proxy groups, and three, enabling the Iranian people to rise up and overthrow the regime. Or Trump initially claimed that the US would accomplish those goals in four or five weeks. Actually, just one week after the strike started, he said that

Iran's only path to a deal was unconditional surrender. But months later, U.S. intelligence showed that Iran retains significant missile capabilities, and we've seen no indication that the new deal includes restrictions. Iran's reportedly made it clear that it intends to keep building ballistic missiles. And they've reportedly made it clear that it will keep supporting its proxy forces as best it can, including Hezbollah and Lebanon, Hamas and Palestine, and the Houthis and Yemen. So as far as overthrowing the regime, while Trump has at times claimed otherwise, this is the same regime that killed thousands in brutal protest crackdowns earlier this year. In fact, the hardliners may have more power now. And there's also no sign that the deal includes any measures to keep them in check.

And also, while you have Trump telling the New York Times that Iran will be unable to access sanctions relief and up to $25 billion in frozen funds, if it kills protesters again, there's reportedly not a condition that appears anywhere in the current text of the agreement. Instead, the issues of sanction relief and frozen assets will be tied to whatever concessions that Iran's willing to make regarding its nuclear program during the upcoming talks. So just based off what's out there right now, it's been described as the hardest things in this dispute to get both sides to agree on, the US and Iran haven't actually resolved those things.

But none of that seems to have stopped Trump from trying to play it off, like all that's left to do is dot the eyes and cross the T's. In fact, even before officially announcing that a deal had been reached, a deal that, again, only paves the way for further negotiations, you had him taken to social media to argue that he had outdone former President Barack Obama. Are you, Trump claiming that the nuclear deal reached under Obama in 2015, gave Iran an easy, beautiful, smooth road to a nuclear weapon. And he also claimed that if he had not ripped up that agreement,

Iran not only would have already built, but used a nuclear weapon. A claim that just appears to have zero basis in reality, at least partly because that Obama deal, it was working. Right, under the Obama agreement, Iran shipped 97% of its enriched uranium stockpile to Russia. They also complied with limits on enrichment set by the deal for the remainder of Obama's time in office all the way into Trump's first term. But then after Trump ripped up that deal, Iran began enriching uranium at its highest level ever. 60%, which is just shy of bomb grade. And they eventually stockpiled enough to build 10 to 12 nuclear weapons, although it never did.

And as far as we know, it never planned to. It's now that stockpile that's one of the key sticking points that are going to have to be worked out. Well, Trump in that post, claim that the U.S. will, when all is calm, go into Iran and recover its, highly enriched uranium stockpile. There are reports that Iran's only agreed to give up half of its stockpile while diluting the other half to levels that would only have civilian purposes. Also there, the other big question is how long Iran will agree to suspend uranium enrichment in the country? With Trump telling the the Times that he's pushing for a 20-year suspension on enrichment. We then also negotiated against himself, telling the times that he might even settle for 15 years. Just a little note is the same length of time that

Iran agreed to under the Obama deal. That agreement only allowed enrichment up to 3.67 percent, and you have Trump insisting that the enrichment at any level is going to be suspended. And then Trump also told the times that Iran would be forever barred from enriching uranium to levels with military applications, though he would not specify the exact percentage, though, that could be because he just does not personally know what that percentage is. And again, ultimately, all of this is going to depend on negotiations that haven't really even fully started yet. And that's also why you had one former American ambassador to Israel writing on social media. As for the nuclear issues, there really is no agreement. It is possible that no deal will ever be reached and very likely that if one is

reached, it will be worse than what we could have achieved through diplomacy before the war. And in general, you've seen a lot of experts kind of just having doubts. One argument the United States hasn't shown the patience necessary to complete a complicated nuclear deal that requires new monitoring and verification measures So then also remember it's not just the nuclear situation I understandably we're focusing a lot on that but it's not just that One of the other things that's popped up is that Trump has made claims about what Iran has agreed to that just may not be true For example in addition to getting traffic flowing through the Strait of Hormuz again He said that Iran had agreed that the straight would be permanently toll-free

But you had Iran's foreign ministry spokesperson suggesting today that while Iran won't collect tolls on ships passing through the waterway It could still charge fees in exchange for the services that are provided so we're definitely gonna have to keep eyes on where that lands, but either way, fully reopening the strait, it may not happen immediately. But there are still mines that have to be cleared, oil production and refining facilities, they need to get up and running again, and it may take time before shipping companies are convinced that the straits actually safe to get through. And actually at the head of one of these companies saying that it would take weeks or even months for him to feel comfortable sending ships into the Persian Gulf, saying there very well may still be uncertainties and unresolved issues that

would drag this out even longer. But with all that said, and the doubt that's in the air here, the markets have reacted very positively to the news. The price of Brent Crude fell nearly 5% to around $83 a barrel, which is way down from its $126 peak. Though it is still a decent amount up from the pre-war price of $73. And then actually with that, as far as the gas prices in the States, they're still up roughly 37% from the beginning of the war on average. And you know, as we've seen, the prices could shoot back up if anything turned south here. And actually, one of the reasons that could still happen,

and what we should talk about is Israel's continued occupation and attacks in Lebanon. In fact, Israel, they reportedly almost blew up the deal even before it was announced by once again bombing the southern suburbs of Beirut. You even had Trump writing on social media that the attack should not have happened when the deal was so close and warning that there should be no more attacks by Israel anywhere in Lebanon and no more attacks against Israel by Hezbollah. And now that this preliminary deal has been reached, while Iran, they've claimed it includes an immediate end to military operations on all fronts, including in Lebanon, Trump himself hasn't publicly commented on whether the ceasefire extends to the

fighting in Lebanon and neither Israel nor Hezbollah that right the sides that are actually fighting in Lebanon had agreed to do anything with this agreement. So Israeli leaders, they've made it very clear already that they do not see themselves as being bound by this deal. With Israel's defense minister saying in a statement this morning that he and Netanyahu opposed any Israeli withdrawal from Lebanon. So we're going to have to wait to see what happens there. But, you know, ultimately, the decision to attack Iran, it's come at an undeniable cost of thousands of lives, including over a dozen Americans. And it's caused massive economic and humanitarian fallout around the globe. And it looks like very little has actually been gained from any of this.

Iran, yes, they were militarily weakened, but not defeated. And it seems like, if anything, they've arguably significantly improved their negotiating position. Right, there was always a threat of escalation. Oh, gosh, what's going to happen with the United States, but they've effectively proved that they can turn off the straight of Hormuz and stand up to the world's biggest military power. Right. And then actually, speaking of different negotiating positions, that kind of works for a transition. SpaceX's share prices rose even more on its first full day at trading today. Right. And so with that, making Elon Musk even more of a trillionaire. Because after making its official debut last Friday, SpaceX raised $75 billion at a valuation of $1.77 trillion dollars, being at the single biggest initial

public offering ever recorded. It's now even bigger with shares rise in another 6% in early trading this morning. It pushed the valuation of the company to $2.2 trillion. So of course, this is a moving target. Trading still happening as I'm recording this. But it has cemented the company as one of the world's most valuable, and you had Elon Musk saying on Sunday that SpaceX could bring in a trillion dollars in revenue by 2030. And so he was supercharging Wall Street's optimism around this company that, you know, it's everything from rockets to AI. But of course, a big thing is that's Elon Musk talking about 2030, and as far as, like, now, SpaceX reported $18.7 billion in revenue in 2025, and they've yet to actually turn a profit. So one of the things that you're seeing is that there are a number of experts that have been and

are increasingly skeptical about the company's historic valuation. In fact, even ahead of the IPO and Analysis by Morningstar found that the company was actually worth less than half of its $1.77 trillion IPO target, with analysts actually put in the figure closer to $780 billion, claiming that the tech giant was significantly overvalue. And yeah, there are a number of reasons to believe that figure is inflated. I mean, one thing is that SpaceX has made a very small portion of its shares available to the market, roughly 5%. And if you're not super into this space, you would know it, that is significantly lower than the roughly 10 to 20% that a company usually floats. And because it's such a small first release, you have analysts saying, hey, you should take all these massive big numbers with a grain of salt.

low supply it could artificially inflate demand. Or as I saw places like Axios explain it, kind of like if say the Girl Scouts made a thousand boxes of Samoa cookies, but they put only 50 boxes up for sale. People would bid on the price of those delicious, caramel, chocolate, and toasted coconut confections. But once more cookies at the market,

the price would likely fall. Or perhaps our willingness to spend big for these cookies forever keeps its price higher. That's also not the only red flag. IPO documents show that almost all of the market opportunity, like literally all but $2 trillion dollars of the estimated $28.5 trillion dollars is based on the company's plans to expand its artificial intelligence development.

The Washington Post, for example, explaining that the market opportunity rests on major, even far-fetched bets, including a constellation of millions of satellites for space-based data centers that will power AI from orbit, and the company will vastly expand its Starlink Internet service. And then also adding, Star Shield, SpaceX's secure satellite network where government will be used for defense and national security applications. And the post also noting that SpaceX has a recent track record of losing billions of dollars, including $13 billion since the beginning of 2023. Just last year, the company lost more than $4.9 billion because of increased

expenditures on AI. But that gamble could also be paying off. They reported $18.7 billion in revenue last year, up 33% from the year before. With all that said, I think there are two things I'll say here. One, a lot of the investing around Elon Musk's companies are less about the companies themselves. And it seems to be more about their belief in just Elon Musk himself. There's really never been a shortage of people saying that Elon Musk's companies are overvalued, that the numbers don't make sense. It makes a stock market look like it's based off of vibes and that it's a casino. At least historically, that's still worked out for Elon Musk. But then also, So two, you have many wondering, okay, does this IPO kind of show us the path forward for other AI companies?

Right, this IPO has been widely seen as a litmus test for anthropic and open AI. Both of those companies are expected to go public later this year. So some are wondering, you know, SpaceX's massive success on this front, has it cleared a path for them? Has it shown that there's a lot of demand for AI giants in this market? Also with that, you're seeing experts saying, if these other AI companies have similar successful debuts, you could totally upend the stock market as we know it. But hey, time will tell. But the next step from that, the final thing we need to talk about today.

It's sad news, and that is that American musician, Oliver Tree, is dead at 32. It was killed when the helicopter he was riding in collided with another helicopter over Rio de Janeiro on Sunday morning. Six people reportedly died in the crash. He was in the middle of the biggest tour of his life, 70 shows, 30 countries, all the continents. And at least as right now, nobody knows why these two helicopters ended up in the same place at the same time. Both helicopters were really came down on top of the car dealership lot.

One of them landed on a row of electric vehicles, which then set roughly 15 to 20 cars on fire. And according to Rio's military fire department, five of the victims were in one helicopter, and the 6th was flying on their own. But the Brazilian authorities opening an investigation, and at this stage, there's really no public conclusions about what went wrong. And one of the things here is that you've probably already heard this news. In addition to being immensely popular and having his own fans, I mean, his top tracks have been streamed more than 700 million times combined.

The Spotify page alone clocking in over 11 million monthly listeners. The outpouring of just grief and devastation from other high-profile people, it's been massive. And their comments, some of it was tied to his work, but also just who he was. People saying that in addition to him just being immensely talented, He was funny, generous, genuinely strange, in a deliberate, art-driven way. A real one-of-one. And as far as what else we know right now, the other passengers and the helicopter included

a Brazilian music producer and Argentine video director and a 23-year-old Argentine creator by the name of Gaspar Prime Diaz. In his audience, actually, knew him as Gaspi, at more than 2.8 million subscribers on YouTube, his streaming channel Blender, posted a tribute, calling him an artist with magic and sensitivity. And then as of right now, the pilot of the second helicopter hasn't been named yet. And unfortunately, all of this is yet another reminder that you never know, What is around the corner? Love who you have while you have them. Let them know you love them. Live your life because while we don't know how or when, certainly we will leave this planet.

We are, ideally, the relationships we have and the people we affect. And it is that somber note where we end today's show. Thank you for watching another daily dive into the news. Thank you for being a part of my life. I love you, O Faces, and I will see you right back here tomorrow.