Maria Gotsch

And we want both the people being disrupted and the disruptors in New York, because from an economic perspective,

On a net-net basis, the city wins if both are here.

Correct.

Initially, we take a very small warrant coverage in everybody that comes into the lab.

Now, we will invest in some of the graduates post-program.

Got it.

But that's separate from the lab.

So the lab is laser-focused on solving that problem of access to the customer.

Perfect.

And the program is 100% B2B or B2B2C.

So we're doing no direct-to-consumer companies in the program.

In all cases, the companies that come in, a large financial institution is a target customer or a target partner.

So consistently since the beginning, there have always been what I call the big three.

Data, security, risk management, currently known as reg tech, but basically it does risk management.

So those three categories have been on the top of the CIO's list since the beginning.

What we've seen in the last couple years, though, is now some new things coming in around blockchain.

Disruptive talent management, interestingly, has been a new category in thinking about how to engage their employees, both hiring and once they're hired.

Blockchain went through a very interesting cycle where for a couple of years there was nobody interested in touching it or being publicly associated.

This was when it was all about Bitcoin.

Then there were two or three years there where there was a very high interest in distributed ledger and blockchain.