Episode Details

Emergency episode with the tech bubble expert Dr Jeffrey Funk, discussing Anthropic's latest pre-IPO S-1 filing, the stolen $6.3 billion worth of crypto from the Binance security breach and the $1trillion tech market wipeout – all in one week!

After a massive, industry-wide sell-off on Friday, October 30, 2026, the broader tech sector—largely tracked by the Nasdaq—lost over $1 trillion in market value in a single session.

However, Google’s parent company, Alphabet, was the primary catalyst for the week's panic. Triggered by its Q3 2026 earnings report on October 28, Alphabet's stock suffered a historic 12% to 13% plunge on Thursday, October 29, erasing nearly $500 billion ($475B–$500B) in valuation in a single day. Over October 2026, Alphabet shed roughly $758 billion to $766 billion in total market cap.

The tech sector brags about the money going in and assumes money will come out, but as Jeff highlights, that is not the case. He believes the AI bubble could pop over the next month or so.

What is different from past downturns, Jeff argued, is the bond market. For example, CoreWeave must pay about 16% to borrow, and its rate rose about one percentage point in just a week. Another example is Nebius, which is close. Oracle pays about 8% and Anthropic about 10%. Broadcom can borrow at 5.5%, but it borrowed about $42B against $38B of profit.We are covering many more points related to this situation, including the potential impact of the US midterm elections.

Join the conversation and tell us what you think will happen in the coming weeks after such a brutal October market crash, and whether the outcome of the US midterm elections will affect the AI bubble.

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Episode Notes & Citations:

https://theretort.com/podcasts/ceoretort/2026/11/02/jeffrey-funk-the-ai-bubble-is-about-to-burst-what-could-happen-next/

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