Jonathan Palmer

I can't remember exactly.

I think it might have been Google.

Yeah, I mean, I think you make a good point.

We've seen some chipping away on the margin.

I like the example of Amazon Pharmacy bringing transparency to drug pricing, and that's definitely caused some behavior change.

You know, we were talking before we started about Mark Cuban and what he's doing, and you've seen drug pricings becoming more transparent.

I think Forward Health is the best example.

But I think that was an interesting one because the leader there very much, in my view, seemed more of the outside pushing in, that this is the tech way to do things versus maybe taking the inside out.

Right.

Right.

You know, as we're talking here, I'm thinking about the different cycles with the large cap companies.

And then I wanted to get your view on the cycles that you've seen, you know, in the digital world or really the health technology or however you want to describe it over the last decade and a half, because it seems like we've gone through a couple peaks and valleys.

And I also think as a public equity analyst, you know, we had that period in the pandemic with the IPOs and the SPACs and a lot of those didn't really work out.

I'd love to get your take of, you know, what cycles have you identified and maybe where are we right now and what do you see for the next, I don't know, year or two?

So maybe that's a good segue into AI.

I mean, I think it's really interesting the point you make around the providers, particularly the health systems, adopting these tools.

I have a sneaky suspicion that the reason managed care has had such a hard time the last couple of years is that there's been widespread adoption of a lot of the RCM tools.

And that's really driving up the on paper acuity of a lot of these patients.

I mean, we've seen a ton of deals in that space and a ton of funding.

So I guess the question I'd like to ask is the AI, you know, how much is hype and how much is reality in your view?