Aidan Donnelly

has been reinvested into.

Like all the big companies now, yeah.

They're using it all.

And I think, you know, people have been asking, why is there so much hype over this?

And I think it's worth taking a step back and looking at the market dynamics that we've had over the last few years.

We haven't had...

you know, a proper IPO anywhere really globally in four or five years.

Like the IPO cycle has been, yeah, there has been a few IPOs, but nothing of major note, right?

And at the same time, if you look at the amount of shares that have been bought back by companies over the same period, right, you're probably looking at about

over $3 trillion of stock brought.

So if you will, the amount of stock in the market is reducing all the time.

There's a lot of cash looking for a home, right?

And to a certain extent, that's what's pushed some of the valuations of the Mach 7 up and all these other things, right?

So...

there is a certain amount of cash looking for a home.

So the fact that you have these three potential big IPOs, I think that's ultimately why they're probably getting more headlines than they necessarily would.

And then you've OpenAI coming through.

And they've all, by all accounts, you know, the other two have now filed their papers.

It doesn't mean they're going to IPO, but it just means that they have the paperwork.

Market conditions permitting.