This week we made the case that AI breaks a fundamental economic law: the bigger it gets, the more expensive it is to run, which is the exact opposite of how transformative technologies are supposed to work. The IPO trio of OpenAI, Anthropic, and SpaceX looks less like the next internet and more like the last big exit for early investors before the whole thing deflates. Then we looked at the manufacturing uptick, which sounds like good news until you realize a lot of it may just be companies stockpiling inventory before prices get even worse. Chapters Intro: 00:00:36 Quick Takes: 00:01:34 Max Notes: 00:09:02 Killer Left Take of the Week: 00:18:03 Chart of the Week: 00:19:27 Headlines: 00:21:11 Outro: 00:23:05 Resources CSPAN’s Book TV: Robert Caro Reveals Details of His Final Lyndon Johnson Biography Forbes Breaking News: Bessent Asked If Data Showing Americans Dipping Into Savings To Pay For Gas, Groceries Concerns Him CBS Mornings: Graham Platner’s sexting controversy rocks his campaign New York Times: Platner’s Texts With Women Concerned Campaign as Senate Race Took Off Yahoo! Finance: OpenAI CEO Altman denies company is looking into government bailout More Perfect Union: We Uncovered a Hidden Wealth Transfer in the SpaceX IPO. You’re Holding the Bag. ISM World: ISM® Manufacturing PMI® Report May 2026 Bloomberg: US Manufacturing Activity Expands by Most in Four Years Bloomberg: US Manufacturing Expands Most in Four Years on Stockpiling Rush CNN: Artists are bailing on a Trump-backed concert series for America’s 250th. Now he’s hosting his own ceremony Time: Sam Altman Says AI ‘Jobs Apocalypse’ He Once Predicted Probably Won’t Happen. Bloomberg: Canada Dips Into Technical Recession for First Time Since 2020 UNFTR Resources Watch: On The Record 6/2/26 (When the AI Bubble Will Burst | Ben Shapiro | Graham Platner). Essay: When the AI Bubble Will Pop. Read: The Donroe Doctrine. -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.