Does a rising tide lift all ships?

Absolutely, 1000%.

There's an audience of people here at the show we've already run into, connected with, linked up, and we're going to have big gatherings while we're here.

100%.

I was in a room yesterday, the Nest Group from Informa that I'm a part of, you know, I'm in a room with, I was the only CEO of a brand.

There were two founder CEOs of smaller emerging brands.

And then it was 50-50 CTO, CMO.

When did you first learn about

In

case you really need a video tutorial, it's right there for you.

Some people do, man.

Yeah.

I got it.

But, you know, it's our job as the people, the proud people of Pepper Lunch to welcome you and show you and educate you as well.

So unfortunate if that is on a rare occasion doesn't happen.

Walk me through your opinion there and help us understand that point of view.

What do you know about SpaceX?

Yeah, so they have been engineering demand for, they've really been using unusually aggressive capital market tactics in order to drive retail and institutional investor demand.

So they're explicitly targeting retail investors like we've never seen before.

They're trying to allocate around 20 to 30% of their shares to retail, which is way more than usual.

Typically, we see 5% to 10% go to retail.

And they're even planning a very large 1500 investor retail event globally across the US, Europe and Asia to try to generate some enthusiasm for the listing.

And they've also been talking to the NASDAQ about fast tracking index inclusions sooner than they would normally.

How does it compare with the Mag 7?

Do you anticipate to see any challenges this year in 2026?

Oh, absolutely.

The geopolitical risks are alive and well, and I think advisors and issuers really need to be on their toes.

Like you mentioned, the sell American trade is a concern we need to be mindful of as the IPO calendar takes shape.

Because if there's fewer international investors taking part in these US IPOs, That can really add pressure to these deals and impact the quality of the books.

But so far, it's really been mostly talk.

We are still seeing foreign participation in both US stock allocations as well as the US Treasury auctions.

Are they the two biggest names to be watching? Are there others that are on your radar?