Skanda Amarnath

I think that's basically the story, right?

We've got, we've got World Cup tickets that are obviously selling for, I mean, not as much to me if people want, but like, we just have like so much, uh,

Discretionary spending is actually a pretty solid, maybe it's for the upper income part of the distribution, but it's still like a go-go time in terms of consumer spending.

That may not be backed up by all of the sort of job market itself, but it's good enough at the higher end for Knicks tickets, right?

It does feel kind of ironic that you have to say Texas versus New York.

Obviously, the story of Texas is like it's the booming state.

It's the state where everything's growing.

But like New York City's got the wealth.

That's good.

That's still what's overwhelming.

Why you have New York fans taking over San Antonio, but you probably won't have Spurs fans.

Toronto, Boston, Foxborough.

Thanks for having me.

Yeah, so the distribution of risks has shifted from where it was, call it six, nine, 12 months ago.

You had a lot of people talking about, well, there's a slowdown in the job market.

Inflation's coming down.

Yes, there's an AI boom, but everything else might be kind of soggy.

What have we learned since then?

Inflation is picking up.

It's not just about oil prices, although that's obviously a big part of it in terms of the closure of Strait of Hormuz.