Joe Spector

That's how crazy it is.

So something that was $50 is literally $100 a year later.

Why?

There's a number of factors.

One, there's been a lot of private equity consolidation in this space.

Follow the money.

So, you know, that just means less supply and the demand's only growing.

That's one big factor.

The other factor is because it's a cash pay industry, there's really no insurance.

Veterinarians, and you'll read this in trade magazines,

they build their business on production which is basically selling you more stuff yes so a third of their revenue is dependent on you getting a blood exam getting x-ray etc and i think to be clear like the rank and file veterinarians are doing this only because they love pets i think what's happening is it's the few business owners and ultimately like i said private equity

that are simply raising prices for something that you're going to pay for no matter what.

And it's scaring people.

So at Dutch, my company, 50% of our customers say they haven't been to a vet in three years or more.

Oh, I bet that's right.

People are scared that the moment they enter a vet's office, they have a $500 bill or more.

I think it's like almost, it's like a third to a half probably.

Wow.

Okay, so they've been scooping them up.

Oh, massively.