Scott Galloway

100%.

And this is the thing that we were saying last week in terms of the equity supply.

And we've seen this with a lot of the big tech names.

We saw this with Microsoft and the Mag7 stocks and some of the chip stocks even, where in order to fund the incredible demand, essentially, or I guess...

given the massive injection of supply that has entered the markets because of the SpaceX IPO, a lot of people didn't have the money to fund that.

And so what did they do?

They decided to sell their positions.

And this is what I said to you on the show last week.

If you don't have the money available to buy the SpaceX IPO, but you want in, what do you sell?

you probably sell your existing tech positions.

You don't sell your defensive positions.

You don't sell, you certainly don't sell your house, but you sell all of your more speculative positions, trim those down so that you can fund this new position.

So yes, Virgin Galactic is down.

AST SpaceMobile is down.

Rocket Lab is down.

And in the buildup to this IPO, we saw the same thing with many of the tech names.

So I think, and this is exactly what we said,

I think that when you have open AI going public as well, Anthropic going public, I mean, we'll see when they go public.

It seems like they're going to go public very soon, perhaps around the same time.

You're going to see the same dynamic.