Potential IPO & Investor Interest - The company acknowledges the significant interest from potential investors [1] - The company does not rule out the possibility of going public ("never say never") [1] Democratization & Fan Engagement - A potential benefit of going public is providing a larger platform to engage with fans and retail investors [2] - The company views a public offering as an opportunity to allow fans to financially benefit from the company's growth [2] - The company's mission is about democratization and reaching the common person globally [2] Global Reach - 70% of the company's viewers are located outside of North America [3] - Enabling global fans to participate financially in the company's journey is an interesting angle [3]

Geopolitical Impact on Markets - Research indicates that since 1950, the S&P 500 has historically declined by approximately 4% within 15 days following significant geopolitical shocks, but tends to recover this loss within about a month [2] - Markets have become more resilient to geopolitical tensions over time, with dips becoming shallower, as these tensions are typically contained in nine out of ten instances [3] Market Performance and Trends - International markets have shown strong performance this year, significantly influenced by the dollar [5] - Emerging markets are up double digits in dollar terms this year, indicating a catch-up trade where the US market had previously dominated [9] - Latin American stocks have been the best performing globally this year, driven by more politically friendly leaders [11] Investor Behavior - Retail investors have been notably smart, buying during market dips, outperforming hedge funds [7] - Capital is beginning to diversify away from the US after 15 years of concentration [12] Economic Factors - The US economy has been relatively resilient this year [8] - Various countries are implementing economic reforms, stimulus measures, and interest rate cuts in response to tariffs and other headwinds [10]