Scott Galloway

This is wildly valued as a company.

And the question, of course, is why are people down to pay this much?

And I think Gil Luria said something really true and really striking on the show when we had him on last week.

He said that Elon, essentially what he does, he has this trick where he has his business that he sells for today, the business of tomorrow, and then the business that's way out in the future.

In the case of Tesla, you have the cars today, and then you have the robotaxis tomorrow, and then you have the humanoid robots way out in the future.

And in the case of SpaceX, he's done the same thing where you have Starlink today,

You have orbital space-based data centers tomorrow, supposedly.

And then way out in the future, you have asteroid mining and you have building civilizations and populations on Mars.

And all of that is a function of storytelling.

That's basically all he's doing in the same way as you described that Hermes can mark up their handbags to these extraordinary prices because they're really good at selling the brand, creating a culture and creating an ethos around the brand.

And that's what allows them to do it.

Elon is doing the exact same thing here.

The question is, how long does this last?

I mean, I predicted, I think you predicted, I think many of us predicted that on day one, this would be a hit.

And I got to say, it's been a little bit, I would say, underwhelmed compared to what expectations were.

I thought it was going to be 25% immediately.

And I saw a world in which it could go even higher than that.

We looked at an 11% jump right at the opening.

But again, the question becomes, what is it going to look like over the next five, six, seven, eight months?

What's going to happen as the lockup periods expire?