Let's bring in Lar Larer Hippo partner Eric Hippo to discuss what he expects for the year ahead. Eric, um clearly there's plenty of companies ready, but do you really believe this is going to be a year of unlock in the public markets given how easy it's been for these companies to raise capital privately and put their own values on things. >> Well, we we uh good morning.Uh we we always hope that it's going to be the next year, but this year there are some really good signs. The IPO market as you mentioned u ...

Market Outlook - The IPO market is showing strong signs, with this year being the best for IPOs since 2021, indicating a potential continuation into 2026 [2][3] - There is a backlog of IPOs that will not be cleared all at once, but optimism remains for significant public offerings in the near future [2] AI Valuations - Current valuations for AI companies in the private market are considered unrealistic, with many companies potentially reaching valuations of $10 billion or more [4] - OpenAI has raised capital at an $800 billion valuation, surpassing most public companies, highlighting the inflated expectations in the AI sector [3][4] Future IPOs - Speculation exists around major upcoming IPOs, including OpenAI and SpaceX, with SpaceX potentially aiming for a $1.5 trillion offering [6] - The first $500 billion IPO is expected to be SpaceX rather than an AI company, indicating a shift in market focus [5][6] Emerging Trends - The next big frontier is anticipated to be space, with significant investments in space infrastructure, data centers, and potential military applications [7][8] - The integration of AI with hardware, particularly in robotics and automation, is transforming industries both in space and on Earth [8][9] Robotics and Automation - The deployment of AI in robotics is becoming more efficient, utilizing commoditized components to create advanced systems like driverless cars [9][10] - Companies like Whimo and Tesla are leading the way in developing AI-enabled driverless vehicles, which are considered safer than human drivers [10]