John Zito

And I'm hopeful that we make sure we keep that intact because we've really benefited over the last 20 years.

Yeah, we can start there.

I think about more distribution function, ETF market.

How do people package and consume products, innovation in products?

Where's there been product innovation where there hasn't been product innovation?

You look at the ETF market.

Started in 93.

We got to a trillion dollar ETF market, probably 09.

And then we're north of 10 trillion today.

Sector focused, every access point, tax advantage, you name it.

Every delivery function through ETF has gotten pretty innovative.

You look at the fixed income market, I don't think the daily liquid fixed income products have changed once in 25 years, which is pretty stark.

And I think for us, a pretty cool opportunity, right?

I think we look at our business and we always joke the fixed income group is the brown suits and bologna sandwiches.

This just literally has not changed at all.

That's my internal, I created like a brown suits and bologna sandwich picture on AI.

And that's like our joke for like, we're not going to be this.

And you look at what we've done in our credit business.

When I joined Apollo, I was joining Apollo to join Apollo for what Apollo's brand is as the known as just the place when things are dislocated, we have some of the smartest investors and we're going to figure out a way to win and just tenacious in terms of underwriting work ethic, all the great things that if you're a competitive, you want to go work at a place that's going to be work really hard and

typically be on the right side of things.