Justin Ishbia

And I think we have a unique fund dynamic.

I'd be lying to you if I said I'm going to put a 31-year-old as a CEO of a $1.3 billion revenue business.

But my average business is 18 of revenue when I buy it.

I sure will make a 31-year-old first-time CEO if they performed well in the past.

And so I think our biggest risk is the high-quality talent we want to run small businesses.

I think, though, there's a lot of makings to it.

And so we homegrow our CEOs through this program called our CXO program, and we're

We home grow our CFOs.

We hire people out of big four accounting firms usually, come to Shore Capital for a 30-month tour of duty.

They go through this program, and the best ones can become CFOs.

So conceptually, how I think about it is I offset it by recruiting and home growing my own CEOs and CFOs.

That is the risk of, are you going to trust for a roll-up a CEO who is 41 years old the first time?

And one of the biggest challenges, if you get into a roll-up, and for some reason it's not going so well, a CEO is wrong,

but there's a big pipeline of deals you're buying, it's hard to unwind that and start again.

We've done it before.

That is the biggest risk, is that when you're doing a roll-up, you change leadership, but that's why you have a strong board.

That's why sometimes someone steps off the board and becomes a CEO.

I think that's where I would be if I was poking holes in my own firm, is can you find enough CEOs and CFOs and leaders?

I believe the answer is yes, and we try to home-grow them, but also...

As we continue to grow our firm, we have a system internally and kind of our all-star tracker.