Sebastian Siemiatkowski

You have to wake up every day.

and do care about that, right?

And so the point is that this is going to be a brutal awakening for Fin and tech.

That's what's going to happen to all of us.

We're going to have to wake up every morning, make sure that we serve our customers, we work really hard and effortlessly to make them happy with what we're offering them.

And it's not going to be what it used to be.

And so I think that share-based compensation as an example, everything that was, was it really because it made sense or to what degree was it just a sports?

And I think to some degree, it's sports, right?

In some degree, it's relevant, like because some people can make a huge difference, but there's a balance between the two.

I think, so that again comes back to what we talked in 15.

Our conclusion was there's going to be different.

So what I thought was interesting, Solomon also recognized this at Goldman Sachs.

So he created Marcus.

And then talking about public companies, the challenge was that when FinTech was like,

Everything was high, 2021, you know, valuations up.

Marcus is the best thing a Goldman ever did.

And then suddenly what ends up happening is, you know, markets turn, and it's very hard for Solomon to defend Marcus.

But the problem is like Marcus would have needed five, ten years to fully mature.

And when you're a public company, that's hard to defend.

I don't know, maybe Solomon doesn't agree and he's like, I did the right thing and I changed it.