News Summary

• In the past year American markets have digested the largest-ever initial public offering (SpaceX), equity raise by a public company (Google) or a foreign firm.
• Worries about massive corporate scandals (First Brands) and hedge-fund blow-ups (Situational Awareness) are steamrollered by the relentless, totalising and extraordinarily flexible machine that is American finance.
• New markets have been created out of thin air (for compute) or become much bigger (for predictions)