But from your perspective, you know, in the perspective of this article on the war for talent, Are you primarily referring to revenue generators and the PMs? Or are you seeing that broadly in all of the hedge fund industry, there is a general war for talent and it's competitive in every vertical across the fund?

writing is focused on the investing side of the business the revenue generators as you said but I don't think there's any doubt and this is something like you know we've covered for years that there is a battle over that top engineering talent the tech side of it the people who are able to build up these platforms that allow the revenue generators to be so good at what they do and that almost is like a even bigger kind of like battle for talent because that pulls in like the big tech companies that pulls in these AI labs who are you know Not only can offer like similar compensation, but can offer a different type of work that might be attracted to that type of talent.

That world is just as competitive.

We're definitely, or at least the astronomical figure, I think is definitely talking about the investing side of it.

For sure.

Just because, you know, you mentioned the sports, like the guys that are getting these like headline figures that are kind of like making everyone's jaws drop are the like, they are the Juan Soto's.

of the hedge fund industry that where it's like whoa that is a massive massive deal that only really goes to someone who's like not just like great but like historically great someone who's you know made money year in and year out and is just a machine and you know checks all the boxes mentors people and develops talent internally and can scale what they're doing and you know all that fun stuff but there's absolutely a battle for for talent it's why The kind of ripple effects of these funds institutionalizing, becoming these platforms, not just investment vehicles, has been fascinating to watch from a people's side.

So with that, what do we think the next four to six years in the hedge fund industry look like?