# The Chopping Block: SpaceX IPO Mania, Fable 5 Export Controls & The AI Privacy Fight

Page: https://stenobird.com/podcast/unchained-5662698/the-chopping-block-spacex-ipo-mania-fable-5-export-controls-the-ai-privacy-fight
Text version: https://stenobird.com/podcast/unchained-5662698/the-chopping-block-spacex-ipo-mania-fable-5-export-controls-the-ai-privacy-fight.md
Podcast: [Unchained](https://stenobird.com/podcast/unchained-5662698)
Published: 2026-06-18T16:00:00+00:00
Episode link: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML6890091820.mp3
Audio file: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML6890091820.mp3
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JSON: https://stenobird.com/v1/public/podcasts/unchained-5662698/episodes/the-chopping-block-spacex-ipo-mania-fable-5-export-controls-the-ai-privacy-fight
Duration seconds: 4493

## Resource

The crew breaks down the SpaceX IPO's crypto-like low float dynamics and Hyperliquid's price prediction, debates accredited investor laws and failed tokenized stock allocations, dives into Fable 5's export control shutdown after Amazon flagged a jailbreak to the Treasury Secretary, and argues whether open source AI models will eat frontier pricing. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. Robert is back after a brief hiatus recording his own podcast, The Pop, for Superstate — and the crew wastes no time roasting him for it before diving into the biggest week of news in recent memory. First up: the SpaceX IPO, the largest in history, and why it looks eerily like a crypto token launch — 4.2% float, retail getting cut out, and Hyperliquid perps predicting the first-day pop almost to the dollar. The crew debates TradeXYZ's winner-take-all dominance of HIP3 and why building on top of Hyperliquid might be a terrible startup environment. Then they unpack Elon's financial engineering genius — the Cursor acquisition as all-stock crypto playbook, XAI's pivot from failed AI lab to compute reseller, and why Grok is (unanimously) an embarrassing piece of shit. The conversation shifts to accredited investor laws, SPV dentists, and why every crypto platform failed to deliver SpaceX IPO allocations. From there, Coinbase's massive system update — tokenized stocks, an SEC-registered AI chatbot, combos, and 15-minute markets. Then things get spicy: Robert asks Claude about SBF on air, Sonnet gets it hilariously wrong, and everyone roasts him for not using Opus. The back half is all about Fable 5 — Amazon's jailbreak discovery, Andy Jassy calling Dario (who didn't pick up), an…

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## Transcript

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