Scott Galloway

And it gets.

very, very confused, especially when you have this new paradigm where the biggest players in this market aren't publicly traded.

So we don't really know what's happening.

We don't really know what the valuation of OpenAI really is if it weren't being propped up by its vendors, the people from which it buys stuff from, i.e.

NVIDIA, etc.

Exactly.

So we don't really know what the actual market cap of these companies really are.

We don't know if, I mean, these companies are projected, and this is the incredible stat that we got from Paul Kudrowski, who we had on the program last week.

Anthropic, OpenAI, SpaceX, if they go public at what people expect, it's going to be

$3.75 trillion in market cap.

That is more than all of the inflation adjusted, that is more valuable than all of the dot-com IPOs put together.

So it's an incredible valuation here that we're about to see.

But again, if we saw the financials of these companies, if we really understood, if everyone really had a clear vision in their heads of this is how much OpenAI is spending,

This is what the unit economics look like.

This is how much money they are losing every time you put a little stupid prompt in on your computer.

What would the stock market actually look like?

What would happen to that stock price?

And how would people adjust their expectations of, say, Microsoft, which is down 20% year-to-date?

But we don't have that information, so I think the narratives are getting very confused.

But they can't do it with Microsoft.