Shreya Murthy

in healthcare, and so that brand is going to inevitably be carrying the torch for these business owners through development of AI.

So we're going to be working hand in hand in the weeds with these operators to develop the tools that they need to succeed.

How do you think about

the size of a company that you want to acquire and fold in?

Obviously there's some organizations that have already been sort of rolled up.

They're large, they're private.

There's probably public companies that you could do a take private of at the biggest scale.

There's also probably very small businesses with owner operators who might be getting older, looking for liquidity.

Like what is in your strike zone?

Out of curiosity, how significant is the back office like OPEX?

Because I imagine seniors want to be cared for by individuals.

I imagine they don't want to just like jump on a Zoom call and get care that way.

So is this a play that you think you can use AI to grow the business much faster and you feel like there's significant sort of back office savings or like where do you think you'll get the most return?

Justin, go ahead.

Yeah, look, I think what we're not suggesting is that a robot is going to replace a nurse in grandma's home.

That's not at all the case here.

Look, I think when we think about the delivery of service, if that takes up about 50% of the cost to pay your nurses, there's something like

40% of the remaining dollars are getting spent on a lot of administrative tasks that can be solved with AI.

And so our view, the way that we think about it at Figure is let's make the jobs of our back office team members easier.

And instead of what maybe a traditional PE or strategic would do, which is pocket those savings and market a huge margin accretion, let's share those savings with our workers.