MahJong, Markets, and Mayhem: DHUnplugged 807

Episode 807 of DHUnplugged, titled MahJong and Markets, arrives June 23, 2026 with a packed slate of market news. Hosted by John C. Dvorak and Andrew Horowitz, the duo announces a new Closest to the Pin contest for SpaceX shares, eulogizes former Federal Reserve Chairman Alan Greenspan (who died at 100), and dissects 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 argue the market is entering one of its strangest stretches in years.

Listeners can expect the hosts' signature skeptical read on several fast-moving stories. 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 are key topics. Alphabet's addition to the Dow lifts the index's tech weighting from roughly 17% to 22%. DDR5 RAM pricing jumped from about $75 to $450, and Dell quotes a $5,700 corporate desktop that costs $2,700 on the consumer site. China's H-shares enter a bear market as retail sales contract. The show leans into its unvarnished tone. On Musk's relentless deal-making, Horowitz relays 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, observes 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 revisit Greenspan's legacy, calling him a "walking thesaurus" whose vocabulary once required decoding.

Depth comes from the hosts' cyclical framework. Horowitz revisits his long-running mattress-company thesis, pointing to Sleep Number collapsing from $140 to roughly ten cents, and calling it a "swing and a miss" short. Dvorak warns that memory pricing defies the historical learning curve and that Micron, SanDisk, and Western Digital could face brutal oversupply. They dig 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 flag the mahjong craze, citing Yelp's 4,400% search surge.