Rob Armstrong

And they are letting it be represented, weighted in the index in a way that was not allowed before.

Right.

So they're changing the rules of entry to accommodate this company.

And to me, this is like, do you guys want to go to court if this goes wrong?

Right.

Is it like, I've always wanted to be questioned by a senator on national TV.

You know, it's like, what are you guys doing?

It seems very sporty.

Mostly we love it.

Mostly we love it.

There's so much in what you just said.

Let's start with the timing issue.

The traditional thinking was we don't really know how much a company is worth until it's banged around in the markets for a while.

And a lot of investors have had a chance to get a look at it.

It kind of finds its natural price range.

And for this reason, companies that are newly listed tend to be volatile.

And that's sort of the justification for not jamming them into the big indexes right away because you have this big, floppy, unpredictable thing acting all crazy until it kind of finds its feet in the market.

Rushing it into the big indices is like, who cares about all that?

We need a lot of passive demand for this product.

It needs to be in the big indexes as fast as possible so all the passive buyers in the market will own the thing.