Dan Caplinger

All of its investors, employees, all of that.

But they don't sell all of those shares in an IPO.

They don't need to come up with $2 trillion.

And I think that's so important, because we're talking about, oh, can the market support a $2 trillion IPO?

They only need to come up with $80 billion or whatever they end up pricing, just that small sliver they're going to sell.

Given how hot space is, and given investor interest in Elon Musk, I don't think it's a surprise that they can raise $80 or $100 billion.

And that's a lot more reasonable sounding than

the $2 trillion number.

There's a lot of other levers here.

I know Dan loves to talk about the index, so we can get into that.

But look, this is a very, very big company with a very large share count.

All they need to do is sell this small amount and gosh, there's interest.

So yeah, $2 trillion, $3 trillion, who knows what they can get to if they squeeze enough.

Absolutely.

The better question is, can they sustain that valuation?

Not the valuation they can get on the first day.

Look, I feel like we're re-debating Tesla.

As people have been saying for years, we can't sustain that.

I think I'd probably take the underlying

on whether or not it's still over $2 trillion, if it goes out of $2 trillion in six months.