Lloyd Blankfein

And in order to do that, you have to have cultivated, which Goleman has done for something over 150 years, a reputation for kind of being good at it, not always perfect at it.

but good at it.

And so we engage with pools of capital and engage with entrepreneurs.

And who else needs capital?

Governments need capital.

Municipalities, the federal government gets financed.

People who go through IPOs.

And so people in the audience will understand IPOs.

That's a way of getting finance for a private company, going public and raising stock and bonds.

And there's a lot of different mechanisms and instruments to do it.

But basically, we are the bridge and the intermediation

between people who have capital and people who need capital.

And I'll say that there's another corollary.

We're also a bridge between the people who have unwanted risk

And the people who are willing to take on the burdens of that risk and get paid for it.

And since those people don't always match up at the same time, we are a principle.

We will take on somebody's unwanted risk until we could find somebody else who will take the other side.

And when they take the other side, it's usually not exactly the same thing.

So we're very mathy and have algorithms to try to get something that's not quite like the other thing to be almost like it by, you know, buying a cocktail of things to replicate something else.

I know this is kind of abstract, but we can get specific too.