Regarding SpaceX & Starlink: The last piece. The Nasdaq just experienced its worst quarter of the year, and the war is still ongoing. In this environment, submitting an IPO, Musk's judgment is probably that the window won't get better, but it won't be so bad that it can't open. Besides whether you can buy in, there's one more thing worth noting. A $75 billion financing scale will draw a large amount of liquidity from the market.