Brandon Aceto

The owners are the people who this is all going to be accretive to in the long run.

They're going to be the beneficiaries of this because the profits ultimately will flow to them.

It's the workers.

You think of the structure of something like a law firm where you've got, say, 50 partners and 200 associates there.

What does a law firm want to do?

A law firm wants those associates to just bill, bill, bill, bill, bill.

The problem is now you've got incumbents that can come in that are, let's say –

a five-person law firm with five partners and a 20-person associate team, that law firm all of a sudden has the capability to be as efficient as the big law firm.

And what's going to happen there?

It's competition.

That big firm can no longer charge the huge rates that they wanted to.

Their associates can't just keep billing at $250 an hour.

And all of a sudden, the smaller firm has pricing power.

What's going to happen?

Prices come down.

Competition wins.

The big firms have to get disaggregated because the small firms are more competitive.

Does it still carry a big... You know, it'll be interesting to see how that materializes.

I...

I mean, I would argue that it's, especially in the scope of AI, it's probably one of the more valuable certifications you can have because something like a CFA, actually all the guys that work at investment banks, their jobs have maybe not become replaceable with AI, but that's a workload that AI can do very, very well.