Benjamin Felix

In this case of this ETF, XOVR, they got burned.

They ended up losing.

Some good news, and this is also quite interesting, is that while it's generally difficult to get access to the private company shares that you want, a lot of public companies will make strategic investments into private companies.

From that perspective, public market investors are not entirely locked out of private.

markets.

Google invested in SpaceX in 2015.

More recently, Echo Star received SpaceX stock as part of a deal for wireless spectrum.

Amazon, Microsoft, and Nvidia are major investors in OpenAI.

There was a leak of OpenAI's cap table.

Microsoft owns a huge portion of their equity.

I don't know, man.

The hottest private companies, in many cases, public companies who saw potential in that now hot private company have invested in them.

And so if you're a public market investor, you're indirectly or not even indirectly, like you're participating in some of those private market successes before they trade on public markets.

I think Microsoft stock actually popped on.

It was an open AI announcement about their valuation, I think.

It's there.

You're not totally locked out of private market growth.

I agree.

Microsoft owns a huge portion of OpenAI.

Does it make sense for you to go out and