AI companies lose billions yearly. Average retail investors get worst valuations at IPO versus early VC investors.

But by the time they IPO, they are at these ridiculous bloated valuations. Open AAI loses hundreds of billions of dollars a year. So does Anthropic. So does SpaceX, I believe. I think all these companies lose money and these valuations are so big by the time the average person gets into it. It's like they're kind of screwed, right? Because it's like buying a VC coin, right? That a VC gets into super early. The ICO happens and the coin is down only. So by the time you buy it on the open market, it goes down 80%. But the people who got in on these um direct buys or SPVS are getting in at such a favorable valuation that even if the IPO drops 50%, they're still up. I invested in SpaceX at 400 billion. It's at two trillion right now.