SUN VALLEY, IDAHO - JULY 08: David Velez, CEO of Nubank, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: James Proud, founder and CEO of Substrate, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Bobby Kotick, former CEO of Activision Blizzard, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Evan Spiegel, co-founder and CEO of Snap Inc., attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Jeffrey Katzenberg, former CEO of DreamWorks Animation, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Evan Spiegel, co-founder and CEO of Snap Inc., attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Bobby Kotick, former CEO of Activision Blizzard, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 08: Bobby Kotick, former CEO of Activision Blizzard, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)