Chamath

Pershing Square CEO and founder, Bill Ackman.

What did you think of Zara, the CEO of OpenAI?

I'm sorry, CFO.

Felt like the CEO.

I mean, that could have been like three hours in the documentary.

So they're undervalued in your mind?

What else is undervalued?

I don't know.

Define extremely cheap in fundamentals.

Is there any way to underrate, and I don't wanna pick on specific companies, but we have the three that are going public, and then you have a Palantir, let's say, and these things have become very popular in pop culture, in retard maxing on subreddits, on the public's consciousness, high net worth individuals wanting to buy into SPVs that are double...

loaded and then getting wiped off the cap tables.

Is there any way to underwrite 100 times revenue, 50 times revenue, 150 times revenue in these companies?

Or are these just tremendously overvalued because of the demand side?

Interesting.

Explain that.

Unpack it.

Allegedly.

Anthropic OpenAI and Palantir also fall into this category.

Do you underwrite those as venture investments as well?

And have you done the work on those?