Rory O'Driscoll

You look at those circumstances and you say, there's a non-trivial chance that it pops to the downside.

Is it 30%?

Is it 30%?

I don't know.

I don't know.

But if you think about it, normally bankers bend over backwards to try and have the down thing pop, right?

But if you think about it, normally bankers bend over backwards to try and have the down thing pop, right?

So they're trying to get a 10, 15% pop.

So they're trying to get a 10, 15% pop.

and near 90% plus of the time it pops, but still 10% of the time it breaks IPO.

and near 90% plus of the time it pops, but still 10% of the time it breaks IPO.

They get it wrong.

They get it wrong.

Even trying to fix the game, they get it wrong.

Even trying to fix the game, they get it wrong.

In this case, they're not even trying to fix the game.

In this case, they're not even trying to fix the game.

And, you know, time will tell on Thursday night, are they too high or too low?

And, you know, time will tell on Thursday night, are they too high or too low?

But there is obviously by definition, some probably higher than 10% chance that on the day people go, everyone who put in for it, put in for it.