00:00Chinese and Hong Kong investors are going to be banned from the SpaceX IPO on security concerns. What do we
00:07know?
00:09Yeah. So this is a hot off the press just now. As you said a headline crossing there. So some
00:14investors won't be able to participate.
00:16And this has to do with sort of national security concerns. And it's somewhat in contrast to what we saw
00:21over the last decade where Chinese money was
00:23it was a welcome inflow into a lot of U.S. investments. And obviously now with tensions between the U
00:29.S. and China sort of still high
00:32there is some concern that you don't want too much involvement or scrutiny from the Chinese side. Also should we
00:38say control via inflows of funds.
00:41So a fairly robust response there. And so this is as the banks are marketing the IPO. It's going on
00:49right now. We will get the actual listing next week.
00:53And as you said the mood is positively giddy right now. Everybody's trying to get a piece of this pie.
00:58Elon Musk has sort of taken a take it or leave it type approach where there's one price fits all.
01:04Normally there's a range but he's sort of rewriting
01:06the rules and saying 135 that's the price you're going to get. But everybody's marketing this. We have the lead
01:13banks in this.
01:14Goldman Sachs, Morgan Stanley but also Jamie Dimon sort of the elder statesman of the U.S. banking industry is
01:21also playing
01:21a direct role in this sort of putting putting his face onto the marketing efforts from JP Morgan. So
01:28everybody as I said trying to get a piece of this pie. But it just seems that the Chinese and
01:33Hong Kong
01:33investors will be left out.
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