Brayden Dennis

And note how a lot of people might hear these names.

Well, all of these companies are very profitable.

Unlike SpaceX.

So that's one of the big things.

It's trading at a valuation.

And of course, it's quite volatile for a company this large right now.

But it's trading at around 140, 150 times sales just based on Q1 2026 revenues.

And it's not easy to find data if you want to start comparing of what we saw during the dot-com bubble.

Because it was back in the 1990s.

And for those that weren't born in the 1990s, the internet was definitely more in its infancy.

And I did find an interesting article, literally like from back in the day where you would publish an HTML from David Simons in March of 1999.

It was from, I can't remember the exact university, but essentially it was an article where...

very old school and he just highlighted the valuations and apparently yahoo which i believe was profitable at the time was trading 130 times sales just to give an idea so this is definitely reminiscent of the dot-com bubble in terms of the sheer pricing in terms of sales and obviously the dot-com bubble also saw a lot of companies that barely had any sales and were not profitable just trading at pretty crazy valuation but again it's not that easy to find data

Going that back.

So before I continue, any comments here on the IPO?

They were huge.

I know it may be weird for younger listeners, but Google was not the...

go-to place to go for searches back then.

I think it really started in the early 2000s.

Google IPO'd later.