Hey it's J.B.

Did you guys see the Snowflake IPO this week?

It truly was a snowflake in the natural sense of the word.

Totally unique.

There's nothing like its first day pop and its valuation, really anywhere in the world.

Snowflake is essentially a data warehousing business that speeds up the usage of information you have in the

cloud by 10 times the current standard and they make that information that data

much more usable shareableable, and collaborative.

Not only can you work with your own data,

but APIs are plugged in, you can work with third party data,

one company can collaborate with another company,

and they can produce all of these insights that help them make their businesses work better.

And it's just this incredible story. The CEO had built service now from a hundred million to a more than billion dollar

revenue company and they brought him on board and you know Berkshire Hathaway took a stake in the company.

The company sold them shares directly, which might be the first time I've ever seen a technology company do that, or Berkshire do that with a tech company and then they also

bought more from a selling shareholder so they were involved to the tune of almost

six hundred million dollars top shelf bankers board public a lot of great venture capitalists have been involved in this one.

And people, when it came public on Wednesday, just went absolutely wild for it.

So Snowflake is an exciting business of course it's in a high growth area of the

global economy but I think investors might have lost their minds on this one in

February it was worth 12 billion dollars, which also sounded like a lot.

On its first day trading Wednesday, it popped 110% or so from its IPO price and ended up with a value of 70 billion.

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