Dick Costolo is the ex-CEO of Twitter and managing partner at 01 Advisors. Costolo joins Big Technology Podcast to look ahead to the SpaceX, OpenAI, and Anthropic IPOs, looking at whether the offerings will be successful, who should go first, how the companies differ, and where the capital will come from. Tune in for the second half where we discuss the state of Meta, Costolo's Twitter memories, and Silicon Valley's 'Permanent Underclass.' Tune in for a fun, in-depth discussion of the most important pending business event in decades. Chapters: 0:00 Intro 1:40 What Changes After an IPO 5:23 Twitter’s IPO Lessons 6:10 SpaceX, OpenAI, and Anthropic Go Public 7:00 Elon Musk’s SpaceX Narrative 13:01 OpenAI’s Compute Commitments 17:51 Codex vs. Claude Code 19:09 Anthropic’s IPO Story 21:24 Why IPO Order Matters 26:01 Where the AI IPO Story Could Break 32:02 Are AI Companies Real Platforms? 37:07 Meta, Twitter, and AI 49:34 AI Winners and the Permanent Underclass