David Perla, if you wanna hop in here, I, I wanted to ask your thoughts on, I guess, you know, specifically, you know, the MSO model that, that we're just discussing here, uh, that Chris was, uh, touching on and, you know, do, do we think that it's, it's likely to reach AM Law, you know, ranked firms? Do you think it's more likely to reshape the middle market first? Wanted to just get your take on, you know, uh, on, on some, some of your thoughts there.

Sure.

So I, I certainly agree with Chris.

It's happening, and y- we saw a deal today.

We've seen a lot of activity in investments in MSOs that are behind personal injury firms, immigration firms.

Today's announcement was a, a firm that specializes in corporate.

So I think you're seeing niche practices a- and you have some general practice, what I'll call mid-market firms that are doing this.

Any- anybody else have, uh, thoughts on, on that topic as well?

And I'm just, I'd love for you to share perspectives that other people don't see.

Sure.

So maybe I can break the business down into two sides, one being the core business and one being what we roll under our development office or future of law, future of Burford.

In the core business, we have a very rigorous, almost religious way of underwriting litigation risk.

And we will find... every way to value, finance, and monetize legal and litigation risk.

I think we're really creative.

We're probably not surprised that there are fewer players now than there were some years ago.

Can you describe that in real dollars?