> There are some concerned there won’t be enough willing to invest I say this as a former public-equity derivatives guy, and now a private capital markets guy:

> There are some concerned there won’t be enough willing to invest I say this as a former public-equity derivatives guy, and now a private capital markets guy: I'm not seeing this seriously argued. There is a real risk these companies are going out overvalued. But they're already overvalued in the private markets and arguably were even before near-term IPOs were on the horizon. Markets can go risk off for any reason. If they do between now and these companies' IPOs, that spoils the party. But if they don't, there is no reason to suspect the risk capital driving into all manner of speculative equities, to say nothig of structured products and weird debt creatures, is suddenly going to hold the line at the darlings of the private markets. > there’s talk that in that scenario SpaceX could end up with a 5T valuation Where?