David Hoffman

That was the last time they raised.

These private valuations are gargantuan.

So this is still a private company.

There was some other news on the week that SpaceX, they are targeting a June listing at a $1.75 trillion valuation.

Now, this would be an IPO, okay?

So a company goes from zero to $175 trillion completely privately.

And then an IPO is to dump on retail.

No, I'm sure it's a great company.

But, like, after all of the upside has been achieved privately.

This is also such an indictment of our public markets today in the US, which is the vast majority of the growth, the most exciting companies, the DecaCorns and Future Unicorns are now happening privately and retail does not get access because of accredited investor laws.

So Amazon-

Contrast that, 1990s.

Amazon, if you bought at IPO, at IPO, and held all the way to now, that would have turned, let's say you had $1,000, you did that, $1,000 into $2.88 million.

Okay?

Almost a 3,000x return.

Returns like that just aren't existing as these companies are IPO-ing later in the cycle.

So, cool.

And also, I'm pretty frustrated by that.

I couldn't get it in either of these companies.

You sure about this?