David Friedberg

And so I would hate that people are out on the risk curve without really understanding the risks, because Jason, you can't predict the market.

You don't know where these things are going to go.

I would just say do not invest in these things.

Don't at least, you know, just I think you're just as able to do it.

Well, that's stupid.

So we at 8090 have done the dance with all the big major private equity firms.

And here's how it goes.

It always goes the same way.

The partners love it because they're looking at minimal distributions, companies that are like good, but not great in many cases.

And they want to see improvements to EBITDA and performance so that they can either sell them or move them out.

No, I've talked to all of them.

Yeah, all of them.

With their existing portfolio companies.

So the GPs are like, this is genius.

We should do it.

Then they're like, here's a handful of companies to go talk to.

And I'll be really honest with you.

What you find in most private equity portfolios are B and C companies run by C and D folks.

And so the ability for them to go and embrace this is basically next to none.

So if I look at my customer distribution and concentration at 80, 90, okay?