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Decoder with Nilay Patel

Decoder with Nilay Patel

Elon Musk is steamrolling Wall Street to become a trillionaire

Jun 4, 2026 · 49m

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About this episode

My guest today is Ryan Mac, a technology reporter at The New York Times and co-author of the excellent book Character Limit: How Elon Musk Destroyed Twitter, which came out in 2024. I wanted to have Ryan on today because we’re on the cusp of the SpaceX IPO, which promises to be one of the most consequential public offerings in history for a variety of reasons. Its biggest-ever size, of course, at nearly $2 trillion dollars. But also because all kinds of rules that keep our markets fair are being bent, if not outright broken, along the way. And, also because buried somewhere inside SpaceX is X, the social platform formerly known as Twitter, which Musk purchased in 2022. Read the full…