Grant Harvey

You got to be there.

No.

I will say, and I wonder if you have any data around this.

Probably not because I feel like these folks are not raising money.

But I do think that the solo founder who doesn't raise could still operate a successful business in Kansas.

They just can't raise money out in Kansas.

Yeah, because the same I feel like the same trends are still true with the exception of you can't pour gasoline levels of of money on the fire.

But, you know, in the same way that all of these companies who are raising right now and are scaling are able to scale and get revenue so much quicker.

I feel like if you have a really good idea and you're a solo founder anywhere in the world, you can probably reach some of that same scale.

I don't know if you agree with that.

Fair, fair.

I love it.

So I want to touch on if Carta is doing anything else with AI in your own marketing efforts that you wanted to highlight or if you're building it into the tool at all.

Anything specific to Carta.

Yeah.

That's awesome.

We have this question.

You're probably not going to be able to answer it, but I want to get your take, if at all.

What technically counts as ARR?

Like, for instance, when a company like OpenAI or Anthropic reports ARR, are they also including the API revenue in there or is that just subscription revenue?