00:00 Speaker A
As we're thinking through multiple factors that the markets are considering right now, pressing most, I think, on some of the sentiment is, is really what is taking place with this tax bill and where we're seeing arguments made both from corporate elites, as well as some of the politicians who are voting on this. What's the read through from the acquisitions and desk and the team as you've been discussing and evaluating?
00:35 Speaker B
Sure. So, we're really looking at this from a private markets perspective and wondering, how does this bill impact the companies that are growing in the private markets? So, while there are things that may be changing last minute, what we can say pretty confidently is that this is going to be, um, a good opportunity for defense tech companies. There's a lot of defense spending that is part of this bill. We've seen Palantir and other public stocks run up because of that, and then in the private markets, we've seen increased interest in these private defense tech companies because of that. So, think of Anduril, mock industries, housing, companies that have really, um, you know, taken advantage of this opportunity, and we see big growth potential for them given, uh, what's in this bill.
01:48 Speaker A
And so, with that in mind, as you're looking across these companies, is there, is there one that is really positioned? Well, you mentioned defense, and defense is particularly interesting, especially with some of the spending carve outs within this bill. How though, for those industries that might be impacted, is there even more of a need for them to solidify some of the capital that they're getting right now to really navigate what types of changes could impact them in this bill as well?
02:35 Speaker B
Sure. So, I think one of the benefits for companies, even when there's uncertainty around this, is the R&D spending piece. So, companies that are innovating and are investing in future technologies may be able to get tax benefits because of that. So, even let's say you are in solar energy, or renewable energy, and there's a downside to what could come out of this bill, there may be a little bit of a silver lining. And I think for tech companies that are looking to innovate and grow, that could be the opportunity.
