Rory Driscoll

Absolutely be praised.

I think it's a smart acquisition for Cap 1 too, by the way.

And we can come back to that later.

But that's kind of the first big picture comment here.

And then on the second thing, and I really, I think there's three different sets of comments.

There's the, is it a great outcome in the abstract?

Of course it is.

Second big picture question, is it a great outcome relative to the $12 billion raise in 2021?

And there, actually, my co-podcaster, Jason, I thought, did an awesome piece on that.

And we should talk about that next, you know, hubristic financings.

And then, by the way, the last thing we'll circle back to is, is it a great outcome relative to ramp and the competitive dynamics?

So I'd like to throw it to Jason and say, I thought your post on hubristic financing and you know, the pros and cons of raising a 12 and selling at five was actually really good.

So over to you to get your thoughts.

When you take money at a high price, you run this risk of subsequently exiting at a lower price and having this weird, odd feeling for a day.

But I think the wider level comment is step away from the weird feeling.

Going back to 2021, who's going to say investors are offering you money at 12?

No, I'd prefer to take it at six.

Thank you very much.

I'm an idiot.

No, you raise the money because you needed the capital.