Oren Klaff

Yeah, I think the framing on that is important.

You got to think of there isn't an existing trading market for these smaller

uh, tertiary market SAS deals.

I spoke for a venture group in Palo Alto, uh, and this is very common.

I said, Hey, I got companies, uh, it's clear, clear view.

Yeah.

So, um, you know, I said, I got a company, a couple of companies might be looking at, I think they're a good fit, you know, from what I've seen from your portfolio and what we talked about here today.

And they said,

listen, gotta be San Francisco.

I mean, prefer Palo Alto, Atherton, Mountain View.

Can we walk to a meeting and see them?

So there's so much deal flow up there.

If you're in Cincinnati, if you're in Chicago, um, you know, we have a good company that is in, uh, that we're working with that's actually in Florida.

Um, you know, if you're in the North Pacific North, if you're in the Northeast Pacific Northwest, if you're in Austin, in some ways, um, the, uh,

San Francisco is not a great, you know, nobody really wants to invest in a small company sort of with $15 million pro forma revenue that's in Austin all the way from San Francisco.

How do you sit on the board?

It's very distracting.

So, you know, these are geographic markets as well, and that makes them even more smaller.

So that, so to me, I don't see that, right.

If you can just go to lighter, uh, or, you know, six of those guys, I don't see them.