SpaceX IPO Day, AI Cybersecurity Risks and When an S Corp Actually Makes Sense — Episode 193

Jun 25, 2026

AJ is joined by Ethan, BKFi's bookkeeper extraordinaire and tax expert, for a wide-ranging episode recorded on the actual day of the SpaceX IPO. They dig into whether SpaceX should be fast-tracked into the S&P 500, what BKFi clients with the opportunity to buy shares at IPO price should actually be thinking about, and a Brooklyn brownstone being listed for Anthropic stock that is either clever marketing or a sign of the times.

Then it's on to a Reuters story about hackers using Meta's AI chatbot to breach high-profile Instagram accounts, what it means for protecting your financial data in the age of AI, and Americans leaving the US in record numbers for the first time since the Great Depression. Plus a website called isaiprofitableyet.com that is tracking one very simple question.

They close with a listener question about whether a small business owner making $95K in profit should elect S corp status, and Ethan breaks down exactly when it makes sense and when it does not.

Topics covered:

• SpaceX IPO day and the 12-month S&P 500 waiting period
• Should you buy shares at the IPO price? What BKFi tells clients
• Brooklyn brownstone listed for Anthropic stock and Bitcoin
• Meta's AI chatbot breach and cybersecurity risks in the age of AI
• Americans leaving the US in record numbers, and the tax consequences of renouncing citizenship
• Is AI profitable yet? The website is tracking it in real time
• S corps: when they make sense and when they don't for small business owners

Timestamps:

• 00:00 Intro, Summer Fridays, and Ethan's fishing plans in Oxford, Mississippi
• 01:39 Today's episode preview and SpaceX IPO day
• 03:31 SpaceX and the 12-month S&P 500 waiting period
• 04:31 Should you buy shares at the IPO price? What BKFi tells clients
• 08:27 Brooklyn brownstone listed for Anthropic stock and Bitcoin
• 12:11 The tax consequences of selling your home for stock
• 14:45 Meta's AI chatbot breach and what it means for your financial security
• 17:13 Americans leaving the US in record numbers, and the citizenship question
• 22:24 Is AI profitable yet? Introducing isaiprofitableyet.com
• 28:00 Listener question: When does an S Corp actually make sense?

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