00:49:39 路 John Coogan, Trent Simonian, Jordi Hays, Vinod Khosla
[00:49:39] S1: Okay. [00:49:39] S12: You know, okay. Who better to get word out about these Knicks colored boots than side talk. So we had people wear them in the episode. We were talking about them. We had to react to them. I think that feels authentic because that's kind of something we would do anyway. Mhmm. It it did really well. [00:49:53] S1: That's good. [00:49:55] S0: Predictions for tonight. [00:49:56] S12: We know if you're losing me by the way. [00:49:57] S1: A little bit. Yeah. It's a little patchy. [00:49:59] S0: We are losing you, but the energy is still there. Predictions for tonight. [00:50:06] S12: Nixon five. [00:50:07] S0: Nixon five? [00:50:08] S9: What's the plan for [00:50:09] S1: covering the game? Is this any isn't [00:50:12] S0: it in your Isn't it kind of in your best interest for it to be all seven games? Like, you know, more more [00:50:18] S1: More content. [00:50:18] S0: Yeah. More attention. You kinda want, you know, you we we obviously want your Knicks to win, but you don't want them to win too fast. Got [00:50:28] S12: a win in seven, I would like seven. If we can guarantee seven, that would be great. But listen, we need to get the win more than anything. [00:50:35] S1: Okay. What what the process of a shoot day? How early are you getting there? Who are you bringing with you? How big is the team?
00:50:35 路 John Coogan, Trent Simonian, Jordi Hays, Bret Taylor
[00:50:35] S1: Okay. What what the process of a shoot day? How early are you getting there? Who are you bringing with you? How big is the team? [00:50:45] S12: Definitely. It depends on what we're doing. We do such a wide variety of stuff. We can randomly go to a hot dog eating contest in Coney Island. We can go highlight a random character in Brooklyn. We can go obviously film these Knicks games. It was pretty dependent on what's going on, but with the Knicks games, we kinda show up in, like, the third quarter as it's ending. Unfortunately, we can't bring our equipment into the stadium, so we look. You just have to stand there and watch the game on our ESPN app and hope that the Knicks win or we hear, you know, someone just scored, something like that. And then the chaos erupts. We go into the chaos. We're there for, like, hours and hours at a time. And at the end of the day, people see, you know, fifty five seconds, but we're out shooting for, like, eight hours throughout these playoff games. [00:51:25] S1: Got it. Wild. Well, thank you so much for coming on. We appreciate you. Good luck. [00:51:30] S0: Yeah. We will we'll feature some of your videos in in tomorrow's episode from tonight. Good luck out there. Have fun. Be safe. [00:51:38] S1: Yeah. We'll talk to [00:51:39] S2: you soon. [00:51:39] S0: I'm hoping for I'm hoping for Knicks in seven personally. Let's do it. But can't guarantee it yet. So have have fun out there. Thank you for thank you for this walk and talk. [00:51:49] S12: Thank you, guys. Appreciate you. [00:51:51] S0: Yeah. Great to hang, dude.
00:51:51 路 Jordi Hays, John Coogan
[00:51:51] S0: Yeah. Great to hang, dude. [00:51:52] S1: Appreciate it. Thank you. Let me tell you about CrowdStrike. Your business is AI. Their business is securing it. CrowdStrike secures AI and stops breaches. We will be joined by the CEO of Snowflake in just a few minutes. Thank you for tuning in. We need to move on to the story. [00:52:11] S0: Cannon says, the cashier at Home Depot just asked if I want to round up to support the SpaceX IPO.
00:52:18 路 John Coogan
[00:52:18] S1: SpaceX IPO is gonna be big Friday. We might have a surprise guest. It's gonna be fun. Also, there's this crazy meta story going on. Not meta, the company, but, like, story about a story behind Ty Morse. He's going all out trying to get an Elon interview, and it's been fascinating watching him build the craziest set in podcasting history. We're rooting for you, Ty. Good luck. Hopefully, you land it. It is the quiet period, so it might be difficult, but I think that there's a plan to extend the effort and everyone's rooting for it to happen. It's been viral on X many many times. Also, Bloomberg's reporting that the SpaceX IPO is four x oversubscribed. Do they know that already? Does do do you get that information at this point? That's really good news for the market, for this for the overall. There was an interesting article. I mean, we can go through some of this. I think this was in The Economist SpaceX talking about, where is it? Can the market swallow SpaceX, Anthropic and OpenAI? Watch out for indigestion. But they talk about the float, the free float. This was very interesting. So obviously the company might be worth a trillion dollars. How much of that trillion dollars is actually actively being traded? Like sure Fidelity might at any point in time have a price at which they're willing to buy more and a price at which they're willing to buy to sell their stake. But founders are often locked up. Founders often want to maintain control. Employees are locked up for a certain amount time. Certain investors might be locked up unless you're Bill Gurley. Don't try to lock him up. Nobody can lock him up. He's a wild man. But the float is important because if it's a trillion dollar company and the CEO passed away a generation ago and there's all financial managers in, it's only owned by hedge funds. This was the story of Take Two before Strauss Zelnick came in. Take Two, the makers of Grand Theft Auto, It was entirely held by shareholders, by financial investors. And they were unhappy with the management team and the management team didn't have any equity. And so he was able to raise his hand and say like, I'll run this thing. And they were like, absolutely. Thank you. And they let him take over the company without really putting anything up.
00:54:45 路 John Coogan
He didn't need to do a hostile takeover like bring a bunch of capital to bear to get control of that company and become the CEO. And it's been a fantastic success for him and fantastic success for Take Two shareholders who stuck along stuck around for the Strauss Zelnick era. But the float matters. And Microsoft, it's 100% floated. The free float is 100% because the founders have moved on and divested and they're not locked up. At Apple, it's like 99%. Broadcom is also at 98%. NVIDIA at 96%. Amazon is at 91%. Only Jeff Bezos is considered sort of off the table. Alphabet at 90%. Tesla at 89. And Meta is notably, of the big tech companies, the lowest free float at something like 88%, 86%. And the reason for that is because Mark Zuckerberg has a lot of control. If he sells his stake, he loses control. So no one's expecting him to sell even if the stock goes way up or whatever. Like, he's going to maintain his position because he wants to run that company. Now, SpaceX is in an interesting, interesting place. So 13% of Meta's shares are owned by Mark Zuckerberg. SpaceX plans to release locked up shares in a series of tranches if its IPO issues $75,000,000,000 of shares valuing the firm at its hoped for $1,800,000,000,000 valuation, the initial free float because if you buy the IPO, you're not locked up. You can sell the next day if you want. Technically, this means
00:56:13 路 Jordi Hays, John Coogan
[00:56:13] S0: it's not like the whether whether somebody's like buying through, you know, investing through like JPM Yeah. Morgan Stanley Goldman. Goldman, all these pieces. Like, technically, you can go and sell. Yeah. They just might restrict you from other IPOs. So you would like And and this happens like on all the different apps, you know, Robinhood, public, etcetera. If you're buying into an IPO, they they basically are asking you nicely, do not sell. Don't don't flip don't flip here. Yeah. But people can. Yeah. And so with how many retail dollars are flowing into this, I expect a lot of people that are buying buying, you know you know, basically buying the IPO [00:57:01] S1: Yeah. [00:57:02] S0: To start trading almost immediately.