The week of the largest initial public offering (IPO) in history may seem like an odd time to wonder if we need more, rather than less, investment into the US and global economies. Many investors believe the SpaceX IPO (target valuation: US$1.78 trillion or S$2.3 trillion) could signal a top to the technology-driven market bubble of the past several years.
Markets will always blow off steam at some point. But if we also consider that we are at a moment at which not only artificial intelligence, but also other sectors like energy, defence and manufacturing are growing in many parts of the world and require greater capital infusions, we should ask – are we at the beginning, rather than the end, of a new investment super-cycle?
