David Solomon

And the growth dynamics for those businesses are quite attractive for us.

Technology in our business, you know, professional services, financial business, technology has been increasing productivity and allowing people to, smart people to do more, you know, for decades and decades.

And I, you know, just to be anecdotal about it for a moment, I go back to when I started

And I first was doing analysis, putting two companies together.

I go to the library and get the annual reports.

And on green line paper, I'd literally write the balance sheets and income statements down.

I'd add them together.

I mean, it would take me a week to 10 days to actually put two companies together and look at the combined financial results.

And then in 1985, somebody put an IBM 286 desktop computer on my desk and gave me Lotus 1-2-3 software.

And something that took me 10 days could be done in two hours.

And so the productivity game was massive.

You obviously here have dynamics where some of the work that analysts have been doing will be automated from this.

And we will use we may have less in the short run of those people.

But I think the opportunity is to have more people doing more productive things with clients that can't be done simply by the technology.

And so, you know, there'll be the shifting dynamic.

You know, if you look back at the firm 25 years ago when I joined and you looked at the productivity, when you look at people and revenues, the firm is much more productive today than it was 25 years ago.

I bet 10 years from now, it'll be much more productive than it is today.

But people, relationships, connectivity.

They're still hugely important in this.

And the question is, how do we shift the way people work and therefore free up more capacity to touch more clients, build more relationships, broaden the footprint?