Sebastian Siemiatkowski

Our conclusion was there's going to be different.

Our conclusion was there's going to be different.

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

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

So he created Marcus.

So he created Marcus.

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

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

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

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

Marcus is the best thing a Goldman ever did.

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.

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.

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.

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.

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