Jason

So this is a very weird moment in time, right?

Yeah.

Freebird, just looking at this, do you believe that secondary market is a canary in the coal mine here with open AI?

Because if we we've and we've gone through this year after year here, these are exceptional businesses, they've grown incredible customers love their products, but the burn is brutal.

The circular financing problem is still out there.

Like what's reality here?

And that's going to all come out when these S1s get filed and they're publicly traded companies and have quarterly earnings reports.

Market share for these could be flipping, Anthropic and Gemini, other players coming into the market.

What are your thoughts here on Anthropic and OpenAI post the SpaceX IPO?

We talked about force majeure could come into play here if this surrounding spirals, God forbid, out of control.

Or it gets worse.

People could say, you know what?

We're going to downscale our commitments.

And hey, there's a war.

So we don't have to fund this.

Yeah.

All right.

Well, that's a good segue, I think, into talking a bit about Iran.

We took the week off from it last week.

And we're going to catch up here this week.