Brad Gerstner

But look, the pushback on that is obviously that it's not a zero or one. Like you make it sound like it's binary, you either throw it away or it's super valuable. And what inevitably happens is the earning power of that product drops over time. And so there is, I think, a reasonable question, you know, should it be more of like an accelerated depreciation schedule?

The idea with depreciation is to kind of um you know they say the useful life so you'd kind of want it to mirror the earnability of the asset over time and so six years straight probably isn't the best fit for that but we'll see we'll see what happens over time you you know their peers the the incumbents in this world were at four years ago and pushed it to six which yeah wasn't uh

The idea with depreciation is to kind of um you know they say the useful life so you'd kind of want it to mirror the earnability of the asset over time and so six years straight probably isn't the best fit for that but we'll see we'll see what happens over time you you know their peers the the incumbents in this world were at four years ago and pushed it to six which yeah wasn't uh

The idea with depreciation is to kind of um you know they say the useful life so you'd kind of want it to mirror the earnability of the asset over time and so six years straight probably isn't the best fit for that but we'll see we'll see what happens over time you you know their peers the the incumbents in this world were at four years ago and pushed it to six which yeah wasn't uh

A riddle for you before we move. Yes. What do Salesforce, Netflix, Square, Amazon, Palo Alto Networks, Facebook, Snap, Proofpoint, NetSuite, and CoreWeave have in common? No idea. They all broke issue. Oh, wow. And so when the talking heads on CNBC and others are critical of a company because they trade below their IPO price, it's just such a wrong way to look at things. And, you know...

A riddle for you before we move. Yes. What do Salesforce, Netflix, Square, Amazon, Palo Alto Networks, Facebook, Snap, Proofpoint, NetSuite, and CoreWeave have in common? No idea. They all broke issue. Oh, wow. And so when the talking heads on CNBC and others are critical of a company because they trade below their IPO price, it's just such a wrong way to look at things. And, you know...

A riddle for you before we move. Yes. What do Salesforce, Netflix, Square, Amazon, Palo Alto Networks, Facebook, Snap, Proofpoint, NetSuite, and CoreWeave have in common? No idea. They all broke issue. Oh, wow. And so when the talking heads on CNBC and others are critical of a company because they trade below their IPO price, it's just such a wrong way to look at things. And, you know...

I think one of the reasons those high-quality companies get priced to perfection is the founders are stronger-minded and have more leverage and negotiate more on this agreed-upon price, which would also go away with a direct listing. But boy, what a silly way to think about quality, whether or not you give away more and pop. That's what a lot of people think. You know, I don't like that.

I think one of the reasons those high-quality companies get priced to perfection is the founders are stronger-minded and have more leverage and negotiate more on this agreed-upon price, which would also go away with a direct listing. But boy, what a silly way to think about quality, whether or not you give away more and pop. That's what a lot of people think. You know, I don't like that.

I think one of the reasons those high-quality companies get priced to perfection is the founders are stronger-minded and have more leverage and negotiate more on this agreed-upon price, which would also go away with a direct listing. But boy, what a silly way to think about quality, whether or not you give away more and pop. That's what a lot of people think. You know, I don't like that.

Which was probably engineered. Let's be realistic. There's some peculiar terms in this company that you may have played a part in. The Series C has a put right at like $38.75. No doubt in my mind, people wanted to make sure it priced above that, which may have played a factor here. Who knows? Yeah. But let's move on. Let's talk about one more thing before we go. So much news in one week.

Which was probably engineered. Let's be realistic. There's some peculiar terms in this company that you may have played a part in. The Series C has a put right at like $38.75. No doubt in my mind, people wanted to make sure it priced above that, which may have played a factor here. Who knows? Yeah. But let's move on. Let's talk about one more thing before we go. So much news in one week.

Which was probably engineered. Let's be realistic. There's some peculiar terms in this company that you may have played a part in. The Series C has a put right at like $38.75. No doubt in my mind, people wanted to make sure it priced above that, which may have played a factor here. Who knows? Yeah. But let's move on. Let's talk about one more thing before we go. So much news in one week.

The TikTok thing, there's new information as we speak. Tell me what you know.

The TikTok thing, there's new information as we speak. Tell me what you know.

The TikTok thing, there's new information as we speak. Tell me what you know.

So it'd be new fresh capital for new co. It wouldn't go to ByteDance.

So it'd be new fresh capital for new co. It wouldn't go to ByteDance.

So it'd be new fresh capital for new co. It wouldn't go to ByteDance.

You didn't mention what percentage was for that. But is that part of the cap table too?