Glen James

And there's a question here that we'll ask.

Maybe I'll read it now because we'll swing back to it.

Shantarella in our group said, hi, is anyone concerned about these IPOs that industry super funds will be forced to invest in like SpaceX, OpenAI, Anthropic?

and their overinflated valuation risks.

How do you opt out as an industry super member?

So we'll talk about that.

But over to you.

What are your thoughts, opinion piece?

About 4.3% of SpaceX is listed.

I respect that.

All day long.

But this is where it comes to is it obviously –

We've got the NASDAQ, and in the U.S., if you want to buy the ETF QQQ, right, which is the index of the NASDAQ top 100 companies, usually on the NASDAQ it's tech companies.

Yep.

And there's a bit of history there.

I don't know if we should bore people, but traditionally there was less paperwork and it was just more digital.

If you're a tech company, list on this exchange.

It's easier, blah, blah, blah.

Yeah, you've just got to wonder about the commercials.

And I saw some commenters like, all right, we're changing these rules now just for these big whales.