Episode 807 of DHUnplugged, titled "MahJong and Markets," hosted by John C. Dvorak and Andrew Horowitz, arrived June 23, 2026, with a packed slate of market news. The duo announced a new Closest to the Pin contest for SpaceX shares, eulogized former Federal Reserve Chairman Alan Greenspan (who died at 100), and dissected the eye-watering surge in RAM prices rattling PC buyers. With the Korean KOSPI briefly plunging into correction territory overnight and Alphabet set to replace Verizon in the Dow Jones Industrial Average, the hosts argued the market is entering one of its strangest stretches in years.
Listeners can expect the hosts' signature skeptical read on several fast-moving stories. Threads covered include: SpaceX's post-IPO slide under $147, Elon Musk's $7.5 billion Tesla options cash-out, a $20 billion bond offering, and a $6.3 billion computing deal with Reflection AI at the Colossus 2 data center in Memphis. Alphabet's addition to the Dow lifted the index's tech weighting from roughly 17% to 22%. DDR5 RAM pricing jumped from about $75 to $450, and Dell quoted a $5,700 corporate desktop that costs $2,700 on the consumer site. China's H-shares entered a bear market as retail sales contracted.
The show leans into its unvarnished tone. On Musk's relentless deal-making, Horowitz relayed a striking framing: "Someone said something very interesting today, that he sees these as points in a game, like points in a video game, tokens that you win. It's not real money." Dvorak, tracking insider selling across dozens of companies, observed that his screen is a "sea of red," with Cantor Equity Partners (linked to Commerce Secretary Howard Lutnick) as the lone buy. The pair also revisited Greenspan's legacy, calling him a "walking thesaurus" whose vocabulary once required decoding.
Depth comes from the hosts' cyclical framework. Horowitz revisited his long-running mattress-company thesis, pointing to Sleep Number (SNBR) collapsing from $140 to roughly ten cents, and calling it a "swing and a miss" short. Dvorak warned that memory pricing defies the historical learning curve and that Micron, SanDisk, and Western Digital could face brutal oversupply. They dug into Chris Bloomstrand's analysis of hyperscalers shifting from asset-light to asset-heavy models, Satya Nadella's comment that AI has become commoditized, Oracle cutting 21,000 jobs, Getty Images soaring 145% on an OpenAI licensing deal, and a Chevron-Microsoft 20-year natural gas power pact dubbed Project Kirby. They also flagged the mahjong craze, citing Yelp's 4,400% search surge.
