Ryan Urban

But no, that security deposit gets spread out over the lease.

So that that's not part of your your basic P&L on an ongoing basis.

Salaries of employees are put in a P&L.

Oh, not at all.

No, everything that should be included in a P&L is included in a P&L.

A security deposit and lease is not included in a P&L under any accounting standards.

So we follow everything that's an actual cost, whether it's a person, whether it's a desk, everything's in a regular P&L.

Office space is included in our P&L, but I'm saying the security deposit costs us over $3 million, which is not a P&L line item.

No, no, that would be crazy.

No, no.

Why do they require such a high security deposit?

Well, we have a 32,000 square foot floor here.

Okay.

And New York is just very competitive.

The price per square foot is somewhere between $60 and $80.

Wow.

So it's a lot.

We pay a few million dollars a year in rent, which does get counted on our P&L.

So we needed to absorb that rent and that one-time $3.5 million security deposit.

Uh, look, I choose one medium, which is email.