Eric Larson

Things with objective function, things with functional verifiability where you can prove the answer are going to go so fast.

And, you know, there are areas in healthcare that have adjacency to that.

And again, revenue cycle management is sort of preeminent.

And, you know, we at Towerbrook, along with CD&R, have R1, our RCM company.

We're seeing this sprint ahead there.

So incumbents versus insurgents, I think, is the right mental model.

And how much time do the incumbents have?

And I think it's a depreciating asset.

Totally orthogonally.

They're like two armed encampments that have no understanding of the other.

I sort of charitably call it like a mutual incomprehension between what's happening in Silicon Valley and what's happening in the establishment U.S.

healthcare.

And U.S.

healthcare has been, you know, I kind of irreverently say super oligopolistic healthcare.

super incumbent dominated, super personality guided.

And on the other hand, you've got the insurgency.

And these are the Silicon Valley startups.

We saw 13,000 digital health startups during the pandemic.

We're seeing a whole new generation of AI and agentic native startups.

These are the hyperscalers, right?