Chris Friedberg

Let's take a pause here.

Freiburg thoughts on price controls generally, and

if you want to expand into the overall relationship with China as it relates to rare earth metals, go for it.

Freeberg, can you explain price floors for people just in case?

All right, price floors, when we were talking about Kamala Harris running for president, she was asking for price flaws and price fixing and making sure the government got involved in this.

How is this different sex?

Yeah, we've been doing a little research on this, and here is neodymium.

Yeah, and you can see here, $50,000 for a ton.

Back in 2020 during COVID, it spiked almost up to a quarter million dollars, and then it came back down.

And if you look at the cost, we were just doing some research on it.

If you get your AirPods, it's 1% or 2% of the cost of that.

Medical devices, it's a lot more.

But even in a Tesla Model Y, it's 10 bps.

And as Elon said at the summit, he's building all those himself.

Right now, only 7% of the known deposits of it have been found.

There's plenty of it out there.

But to your point, I came to the same conclusion as you, Chamath, which is we should be building a strategic reserve of these.

And if you look, we could be buying them when these things are down and deploying them

All right.

Traders on PolyMarket think, or know, depending on the situation, that we are going to see cooler heads prevail.