Mm-hmm

...

I think you have to think about what your view would be on a transaction and value and whatnot to be able to respond quickly because our disclosure rules are, are not great.

You know, you know, as far as for thirteen Ds, when accumulations that can happen through derivatives.

You may face a proposal to sell your company at a certain price, and it may go public, and your shareholders are gonna say, "Well, what do you think?" And you gotta-- You're not gonna tell them everything because you have to negotiate with the other side on value.

But there is an element of, you know, in the old days, when an activist would come, they would, you know, talk to you three or four times before you go public.

So often now, the first thing you see is a public disclosure-

So how are boards really getting prepared?

had

mostly happened.

I saw really a high alignment of interests of kind of mission outlook and things.

So really not much of a topic there.

I mean, certainly the litigation is a big topic.

And that's something I spend a lot of time on.

I'm talking to policymakers in Washington and state capitals.

What is the most exciting thing you're investing in right now and seeing?