Garth Bray

That's completely within the terms of the IPO though, isn't it?

There's no law or rule around that?

Just to give you some confidence that the people who actually invested in this thing are going to stick around to some extent.

It's not a pump and dump kind of a thing.

I guess, yeah.

I mean, if you're only putting sort of 4% or 4% or 5% of the company up on the first day, is that an unusually small amount for an IPO?

By any estimation, sort of $1.75, $2 trillion is an enormous valuation for a company to suddenly arrive in the market.

It's going to hit the NASDAQ sooner.

It'll wind up in the S&P 500 eventually.

What impact does that have on the market, on indexes, on passive investing?

That is an astonishing level of concentration.

And this is just probably the first installment of that coming down the road right at us.

I think we've actually got to the point where we ring the bell now.

We're setting a price.

How do we work that out?

Is it just whatever the market will bear on the day?

Is there a mechanism that's running behind there?

Is there someone that's trying to make those deals happen?

How are they trying to work out what value to give it, what price to put on it?

It sounds like a lot but it's all coming to a head June 12 I believe we expect this listing on the NASDAQ SPCX the ticker