The discussion centers on the existence and stability of small carbon molecules, particularly those smaller than C20. C2 is identified as a molecule that exists but is highly unstable, often reacting quickly with other substances like hydrogen to form more stable compounds such as ethane. The bonding in C2 raises questions about its natural occurrence and stability, with participants debating its geometric configurations and potential resonance stabilization. The conversation also touches on the theoretical existence of C4, which is speculated to have a planar rhombic structure due to its double bonds, though doubts remain about its synthesis and stability. Additionally, tetrahedral N4 is mentioned as a high-energy compound with potential applications as an environmentally-friendly rocket fuel, though it has not yet been synthesized. Overall, the discussion highlights the complexities of carbon molecule stability and the challenges in studying these small compounds.