The AI IPO is worth fifty billion dollars because one day it might be worth one hundred billion dollars. The one hundred billion dollars is based on projections. The projections are based on expectations. The expectations are based on AI. And AI is the last remaining plan for debts that cannot be repaid. Retail gets access to the upside after the upside has already happened. SpaceX launches satellites. Anthropic raises capital. New IPOs arrive. Liquidity survives. Your purchasing power does not. This is not a Ponzi scheme. The people running a Ponzi scheme eventually run out of money. The modern economy creates new one.