AI news · Sunday, May 31, 2026
SpaceX is prepping a $2 trillion IPO, and small investors aren't buying the hype
The AI world is absolutely CRUSHED by massive, high-stakes drama right now as tech giants and billion-dollar IPOs battle for the spotlight. SpaceX is getting ready for a mind-blowing $2 trillion IPO, but retail investors are running for the hills, terrified it's just a massive trap for early insiders to dump their bags on the public. While everyone fights over the money, the job market is acting like a total roller coaster.
Economists are claiming there is 'zero evidence' of AI-driven job losses, insisting the tech is actually creating new roles and stoking hiring, yet major companies like Block, Cisco, and IBM are actively slashing thousands of workers and explicitly blaming AI for the cuts. It is a total war of narratives, and the tension is so thick you can cut it with a knife. The vibes are officially OFF at college graduations, where students are booing speakers like former Google CEO Eric Schmidt just for mentioning artificial intelligence, showing that a massive generation is ready to fight back against a future they feel is being stolen from them.
Meanwhile, the big tech companies are scrambling to shove AI into everything, often breaking things in the process. Google is under fire for trying to force AI into search, leading people to flee in droves to alternative engines like DuckDuckGo, which saw a 30% jump in installs. Even worse, scientists have discovered that leading AI 'research' agents are essentially faking it—they mostly just confirm what they already know instead of actually searching the web, failing completely when they have to find new, real-time information.
This is huge because it proves these models are just hallucinating their way through benchmarks. But the absolute wildest news comes from the world of 'vibe coding,' where normal people with zero experience are using AI to build their own tiny, hyper-specific apps. Whether it's tracking hair wash routines or planning wedding seats, regular people are reclaiming the tech, turning AI into a tool for the masses instead of a corporate weapon.
Even amidst all this, the scams are getting crazier, with phishing artists setting up fake 'MetaCareers' pages to steal logins, proving that as the tech explodes, so do the risks for everyday people just trying to find work. It is a total wild west, and we are just living in it.
The quick hits
- SpaceX is prepping for a massive $2 trillion IPO — but retail investors are terrified the company is overhyped and just a trap for early insiders.
- Major companies like Block, IBM, and Cisco are citing AI as a reason for thousands of layoffs — creating a massive divide between economists and real-world workers.
- College graduates are literally booing and protesting speakers who bring up AI — proving that the younger generation is deeply skeptical of the current tech trajectory.
- AI agents are failing to perform real research and are instead faking their results — proving that most models just rely on their own memory instead of actual facts.