00:00 Speaker A
Let’s start with SpaceX. It’s seeking the biggest IPO that we have ever seen, the biggest valuation. What do you make of it? Because what do you make of the interest in this company? Because people may think of it and think, okay, it’s just a rocket company, but it’s really not just that anymore.
00:15 Speaker B
Yeah. We think this is a Netscape moment for the space economy. in the same way that prior to Netscape going public in ’95, the, you know, the internet was this thing that academics and like government employees used. Um, it became an institutional grade asset class after that. Um, and a lot of capital flooded to the area, gave institutional investors a liquid asset to benchmark against. I think the same thing is happening here with SpaceX. I think it is uh, the IPO is is uh prompting allocators to reconsider just how large and strategically important the space economy has become.
00:54 Speaker B
Right. I mean, most people think of it as the Apollo Moon landings, the International Space Station, right? But it’s so much more than that. If you think about GPS, it is uh, the invisible backbone that powers the global economy. The global economy runs on infrastructure that’s in orbit that is increasingly converging with terrestrial infrastructure to provide us with new uh, uh products and services that weren’t there.
01:21 Speaker A
Like Starlink is part of that and all and other things. When you think about the timing of this IPO, there’s a lot of polymarket odds out there, many expecting that this could go public by June 15th or June 30th. What’s your take? When do when will we see this company go public?
01:42 Speaker B
Well, they the company and the founder have dropped some hints and so
01:46 Speaker A
Founder being Elon Musk.
01:47 Speaker B
Yes, he said uh that it’s when uh Venus and Mercury align, which is early June. You know, um Bloomberg reported that they filed confidentially yesterday. So that I think is it’s been a lot of talk and speculation and expectation, but like that makes it real, right? And it kind of puts them right on track for that timeline.