Exploding professional sports franchise valuations are a direct reflection of stock market wealth, not traditional business fundamentals.

7:02throw up the sports team chart. >> All right. So, I had Claude make this. These are all the transactions in the NBA going back to when Steve Bomber purchased the Clippers for $2 billion. Then you got the Rockets at 2.2. You have the Nets at 3.3. There's some in between. The Suns at four. Celtics just sold for six. Lakers sold for 10 a minute ago. Now they're up for 12.5. The

7:22freaking Trailblazers are 4.25. You know what this is? It's the stock market. Where do you think Josh Kushner's wealth is coming from? >> It's AI. >> It's It's open AI, right? >> He has a $15 billion position on Open AI. Now, I know I know that's not his money, but whatever. Like all of this all of this upward trajectory, it's the top 1% of the 1% getting soing rich.

7:44>> Yeah. And that's what this is. >> The Celtics number. >> I agree with that. I agree with that 100%. It's this is not people that make made their money in shipping like the Steinbrers. This is straight up like shareholders in the 100 largest companies in the world. >> It's the stock market. >> Yeah. >> The Celtics at six has to feel slighted now. >> All right. So some of this data

8:05>> Wolves at 1.5 like 5 years ago >> I would say that the Nets had 3.3 billion could be the first franchise in history to resell at a lower price. >> Stop. >> Um like in modern history. >> Where are the No, the Bucks aren't on here. Um >> dude, I think Stein Burner bought the Yankees from CBS in the 70s for like $6 million. >> There was nothing.

8:28>> I think that's what I literally think that's what it is. >> All right, so I have a new rule a new rule proposal that will never pass muster. Although maybe it will. You don't want NBA teams being flipped. Now, I know there's extenduating circumstances. We don't know everything about what's happening with the owner, but he's under investigation. There's there's some smoke there, but there needs to be a 5-year holding period