In Episode 807 of DHUnplugged, titled 'MahJong and Markets,' hosts John C. Dvorak and Andrew Horowitz delve into a series of market events that underscore the current volatility and peculiar trends. The episode, released June 23, 2026, features a new Closest to the Pin contest for SpaceX shares, a tribute to former Federal Reserve Chairman Alan Greenspan, and an analysis of soaring RAM prices.
SpaceX, which recently went public, has seen its shares slide below $147. The hosts 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. Horowitz frames Musk's deal-making as akin to a video game, stating, '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.'
The memory market is in turmoil, with DDR5 RAM prices jumping from about $75 to $450. Dell is 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.
Other market moves include Alphabet replacing Verizon in the Dow Jones Industrial Average, boosting tech weighting from 17% to 22%. The Korean KOSPI briefly plunged into correction territory overnight, and China's H-shares entered a bear market as retail sales contracted. Dvorak tracks insider selling across dozens of companies, noting a 'sea of red' with Cantor Equity Partners (linked to Commerce Secretary Howard Lutnick) as the lone buy.
The hosts revisit Greenspan's legacy, calling him a 'walking thesaurus' whose vocabulary once required decoding. They also explore the mahjong craze, citing Yelp's 4,400% search surge. Horowitz revisits his mattress-company thesis, pointing to Sleep Number (SNBR) collapsing from $140 to roughly ten cents, calling it a 'swing and a miss' short.
Depth comes from 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. The episode is available at dhunplugged.com and on Spotify and Amazon Music.
