Joe Weisenthal

Totally.

You know, it's interesting too, not really AI related, but the idea of being able to provide, you know, provide a solution, all of portfolio visibility.

What is one reason why the big get bigger within finance?

One reason is because only a really large entity would have the capacity to be able to say, and here's what we can offer you with private credit, and here's what we can offer you with indexing, et cetera.

So, okay, the end investor has this big portfolio consisting of lots of different types of asset classes.

As he mentioned, historically, the industry has sort of been verticalized by asset class.

If you want some entity that has

How do all the puzzle pieces fit together, which is the essence of portfolio construction?

Then theoretically, you just want like a really big company that understands all of it.

I also thought, and it was kind of also on the source of edge question, is we've talked about this before.

It always seems like one of the fun jobs in finance would be the channel check person.

The person who goes to the mall.

Yeah, the field trips.

It's like, okay, how many sweaters are on the gab shelf?

Whatever.

Maybe that becomes even more valuable because things that have not yet been put into a model.

Yeah.

And look, I love that people listen to odd lots.

I love that people read the news, particularly financial news on Bloomberg.

I've never thought by and large that people read an article and it's like, I'm going to make an investment decision based on that.