Rob Armstrong

Right on.

Let me put a question to you, Richard.

There's kind of two sides to the Elon Musk story.

On the one hand, he is this person who can build incredible things at a scale and with a speed that other people just can't do.

An electric car company

that challenged the world's incumbent car makers, an electric car charging network in the United States, a satellite communications network, a commercially viable rocket company.

I mean, this stuff is amazing.

And that's the kind of earthbound reality side.

And then there's the kind of out in outer space, wild hype side where, you know, what is Tesla anyway?

It's going to make robots.

We're all going to have robots.

And then there's going to be satellites in space that maybe we're going to use as a way station to colonize the moon.

And it'll all be valued at a thousand times earnings.

How do you kind of fit those two sides of the Elon Musk story together?

If he could have done it two years ago, he'd be laughing.

He'd get it all done.

Even a year ago, when, you know, the massive spending by all the so-called hyperscalers or magnificent seven tech companies was just being swallowed by the market in one big bite.

But now...

The mood, and I think this is what you're getting at, has changed a little bit.

I mean, the market is still strong, but it's not quite what it was.