Gavin Baker

But I saw Jason Calacanis fire back, say, hey, you can create a synthetic index that you want to own the S&P 499.

Just go do that.

And it seemed a little complicated.

How complicated is it actually to do that today if you're genuinely so bearish on SpaceX that it can't touch your portfolio?

Because you could go short or you could just buy everything else in equal proportion, but then there's reweighting that happens and it's sort of complicated.

But where are we from someone being able to just do that with a prompt or a click these days?

Yep, have to be profitable for a certain amount of quarters.

Have to be a certain size.

Yeah, totally makes sense.

I understand the critique.

And also like when I think about the S&P 500, I think most people mentally think, okay, I'm gonna have 0.2% in every company, but of course it's cap weighted.

And when you see a 2 trillion behemoth come into the index, you're like, well, that could be like 3% of my portfolio, maybe 5% of my portfolio if it runs.

And I don't want that index exposure necessarily.

Of course, everyone has different risk tolerances, different preferences, but good to know that there's an alternative out there.

Jordy, anything else?

And also, the market, I felt like there was one narrative that was like, if SpaceX wins, everyone else loses because there's gonna be so much rotation out of everything else, but the market's performed well today and stuff, and that's not what's happened at all.

White pill on a red suit day.

There you go.

Yeah.

What else?