Matt Wolf

These will be transacted, and we've seen in a lot of conversations I've had, deals we've seen of sponsors moving from provider deals, but they want to stay in healthcare, investing into health technology, healthcare services, healthcare consulting firms. They want a piece of that pie, but not the direct reimbursement risk. watching that shift, I think will be really interesting.

And I think it'll create buying opportunities for sponsors that remain committed to a healthcare reimbursement risk. And they have the operating, the deal teams to really execute on that because it's, it's a difficult thing to do and it's only going to become more complicated, but we'll see sponsors really specialize in it. And I think they'll be able to make some good deals.

And I think it'll create buying opportunities for sponsors that remain committed to a healthcare reimbursement risk. And they have the operating, the deal teams to really execute on that because it's, it's a difficult thing to do and it's only going to become more complicated, but we'll see sponsors really specialize in it. And I think they'll be able to make some good deals.

Absolutely. Absolutely. And every day we see fewer and fewer holdouts that are expecting that 2021 multiple on their exit. There's still some out there, but it's a new environment. It's a new regime. Craig, a couple of the core trends that you're watching currently.

Absolutely. Absolutely. And every day we see fewer and fewer holdouts that are expecting that 2021 multiple on their exit. There's still some out there, but it's a new environment. It's a new regime. Craig, a couple of the core trends that you're watching currently.

Yeah, I completely agree. And I'm hearing the same right from my perspective, my clients as part of the thing I would add to is that, you know, we kind of saw this story during the last administration. And there was a, you know, would be a bevy of executive orders or pronouncements or whatever people would really say. work hard to understand, internalize, try to react to them.

Yeah, I completely agree. And I'm hearing the same right from my perspective, my clients as part of the thing I would add to is that, you know, we kind of saw this story during the last administration. And there was a, you know, would be a bevy of executive orders or pronouncements or whatever people would really say. work hard to understand, internalize, try to react to them.

And then a day, a week, a month later, it fizzled into nothing. And so that's part of what we're trying to caution this time around again, as well as like, yes, it's important to pay attention to this, especially if, you know, we talked about home health, right?

And then a day, a week, a month later, it fizzled into nothing. And so that's part of what we're trying to caution this time around again, as well as like, yes, it's important to pay attention to this, especially if, you know, we talked about home health, right?

They're very much at risk for some of these Medicaid sort of discussions, and it's going to affect different investors, different leaders in different ways. but we want to take it with a grain of salt. I mean, it's several full-time jobs to keep attention to everything that's happening.

They're very much at risk for some of these Medicaid sort of discussions, and it's going to affect different investors, different leaders in different ways. but we want to take it with a grain of salt. I mean, it's several full-time jobs to keep attention to everything that's happening.

Thanks, Chanel. So, you know, as of this recording, it's been an interesting news cycle with Deep Seek's launch of their R1 recursive learning model or related learning model. And what does this mean for the future of AI and export controls and, you know, mega scalar tech prices and all of this? And it's been a fascinating discourse to watch.

Thanks, Chanel. So, you know, as of this recording, it's been an interesting news cycle with Deep Seek's launch of their R1 recursive learning model or related learning model. And what does this mean for the future of AI and export controls and, you know, mega scalar tech prices and all of this? And it's been a fascinating discourse to watch.

And I think there's a lot of nuance that has been missed in sort of the national discourse. financial news publications, and I thought I might just spend a few minutes talking about it, you know, from our perspective, my perspective, which is, again, I think a little more nuanced and based on the AI researchers that I've been reading and follow and study.

And I think there's a lot of nuance that has been missed in sort of the national discourse. financial news publications, and I thought I might just spend a few minutes talking about it, you know, from our perspective, my perspective, which is, again, I think a little more nuanced and based on the AI researchers that I've been reading and follow and study.

And I think the advent of this model is of the deep seek model is noteworthy only really because it came out of China. It's not surprising that a company was able to develop an AI model as cheaply as they did. However, the stated price of $6 million is not right. It was significantly more than that. But

And I think the advent of this model is of the deep seek model is noteworthy only really because it came out of China. It's not surprising that a company was able to develop an AI model as cheaply as they did. However, the stated price of $6 million is not right. It was significantly more than that. But

We've seen with the development of AI models, similar to the development of other computer transistors, processors, memory, where the cost falls down.

We've seen with the development of AI models, similar to the development of other computer transistors, processors, memory, where the cost falls down.

precipitously you're able to scale more with less over time and this is a pretty significant factor and so you know this new model that came out that has everybody talking again about ai or the export controls working what does this mean for nvidia what does it mean for facebook you know it's important to note that yes it was developed more cheaply but it doesn't score as well as the leading models