Downtown Josh Brown

You're talking about a $2 trillion IPO.

Even if you allow 10% of shares to be sold, think about how much new cash that is.

What does that cash do?

It finances the construction of new McMansion, probably Ferrari, more Rolexes, tons of stock market activity, tons of wealth management activity, fee-related stuff.

maybe starting new companies with that money.

Like it's just, so it's recursive.

And I don't know what breaks the cycle.

Obviously a stock market crash would do it.

Barring that, I just don't know where it ends.

I've heard some people say, this is great.

that SpaceX will be in the NASDAQ.

It'll be in the index in 10 days because.

how stupid would it be to have the fifth largest publicly traded company outside of the index that's meant to represent the stock market?

What are they going to wait for it to go up another a hundred percent at it?

So I heard that version and then I heard the other version, which is, so basically the world's richest man says to the stock market, here's how things work now because I need my shareholders to be able to sell and you need to provide suckers in the form of ETF shareholders.

So I don't feel strongly in either direction.

I understand both arguments.

What are your thoughts as an asset management executive?

It should be in the indices, right?

I mean, the basics.